| Intrinsic Valuation of: NTRS | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 11 | Market Cap | $25B | |||||
| 2021 | - | - (-) | P/E Ratio | 12 | Total Asset | $156B | |||||
| 2022 | $841M | - (-) | Net Income | $2B | Total Debt | $13B | |||||
| 2023 | $2B | 98.5% (89.8%) | EBITDA | - | Total Liab | $143B | |||||
| 2024 | $2B | 16.8% (16.6%) | Opr Margin | - | Debt/Equity | 1.05 | |||||
| 2025 | $-1B | -163.2% (-151.6%) | PreTax Margin | - | BV/Share | 58 | |||||
| 5Y Average FCF | $807M | -16.0% (-15.1%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (4.0%) | ||||||||||
| 2026 | $839M | MBG Intrinsic Value | $96 | ||||||||
| 2027 | $873M | ||||||||||
| 2028 | $908M | ||||||||||
| 2029 | $944M | ||||||||||
| 2030 | $982M | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $21B | Net Worth/Share | $66 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $18B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $45B | $258 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $13B | WACC | 7.3% | 247 | 253 | 260 | 269 | 280 | |||
| Equity Value | $50B | 7.4% | 246 | 252 | 259 | 267 | 278 | ||||
| Shares Outstanding | 194,539,008 | 7.4% | 245 | 251 | 258 | 266 | 277 | ||||
| 7.9% | 239 | 244 | 249 | 256 | 264 | ||||||
| DCF Intrinsic Value | $258 | 8.4% | 233 | 237 | 242 | 247 | 254 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||