| Intrinsic Valuation of: NTRS | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $30B | |||||
| 2021 | - | - (-) | P/E Ratio | 17 | Total Asset | $177B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $14B | |||||
| 2023 | $2B | 16.8% (16.6%) | EBITDA | - | Total Liab | $164B | |||||
| 2024 | $-1B | -163.2% (-151.6%) | Opr Margin | - | Debt/Equity | 1.08 | |||||
| 2025 | $5B | 486.5% (496.2%) | PreTax Margin | - | BV/Share | 61 | |||||
| 5Y Average FCF | $2B | 15.0% (120.4%) | |||||||||
| 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): | 10.21% | 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 | $5B | MBG Intrinsic Value | $86 | ||||||||
| 2027 | $5B | ||||||||||
| 2028 | $6B | ||||||||||
| 2029 | $6B | ||||||||||
| 2030 | $7B | ||||||||||
| 2031 | $7B | ||||||||||
| Terminal Value | $91B | Net Worth/Share | $70 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $76B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $61B | $667 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $14B | WACC | 8.2% | 750 | 779 | 814 | 856 | 907 | |||
| Equity Value | $123B | 9.2% | 684 | 705 | 730 | 758 | 792 | ||||
| Shares Outstanding | 185,047,258 | 10.2% | 633 | 649 | 667 | 687 | 711 | ||||
| 11.2% | 593 | 605 | 618 | 634 | 651 | ||||||
| DCF Intrinsic Value | $667 | 12.2% | 560 | 569 | 580 | 592 | 604 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||