| Intrinsic Valuation of: MELI | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 38 | Market Cap | $78B | |||||
| 2021 | - | - (-) | P/E Ratio | 41 | Total Asset | $43B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $4B | |||||
| 2023 | $5B | 86.4% (33.0%) | EBITDA | $4B | Total Liab | $36B | |||||
| 2024 | $7B | 52.4% (10.8%) | Opr Margin | 11.08 | Debt/Equity | 0.67 | |||||
| 2025 | $11B | 52.6% (9.8%) | PreTax Margin | 10.53 | BV/Share | 129 | |||||
| 5Y Average FCF | $6B | 15.0% (17.9%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 10.73% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | $11B | MBG Intrinsic Value | $341 | ||||||||
| 2027 | $12B | ||||||||||
| 2028 | $13B | ||||||||||
| 2029 | $14B | ||||||||||
| 2030 | $15B | ||||||||||
| 2031 | $15B | ||||||||||
| Terminal Value | $192B | Net Worth/Share | $133 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $161B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $4B | $3,159 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $4B | WACC | 8.7% | 3,761 | 3,967 | 4,205 | 4,485 | 4,818 | |||
| Equity Value | $160B | 9.7% | 3,289 | 3,439 | 3,610 | 3,806 | 4,034 | ||||
| Shares Outstanding | 50,697,182 | 10.7% | 2,919 | 3,033 | 3,160 | 3,303 | 3,466 | ||||
| 11.7% | 2,622 | 2,710 | 2,807 | 2,915 | 3,037 | ||||||
| DCF Intrinsic Value | $3,159 | 12.7% | 2,378 | 2,447 | 2,523 | 2,607 | 2,700 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||