| Intrinsic Valuation of: OKTA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 1 | Market Cap | $15B | |||||
| 2022 | - | - (-) | P/E Ratio | 63 | Total Asset | $10B | |||||
| 2023 | $63M | - (-) | Net Income | $235M | Total Debt | $0 | |||||
| 2024 | $488M | 674.6% (536.0%) | EBITDA | $355M | Total Liab | $3B | |||||
| 2025 | $730M | 49.6% (29.7%) | Opr Margin | 5.24 | Debt/Equity | - | |||||
| 2026 | $863M | 18.2% (5.7%) | PreTax Margin | 5.10 | BV/Share | 8 | |||||
| 5Y Average FCF | $536M | 15.0% (190.5%) | |||||||||
| 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): | 7.00% | 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%) | ||||||||||
| 2027 | $880M | MBG Intrinsic Value | $12 | ||||||||
| 2028 | $990M | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $1B | ||||||||||
| 2032 | $1B | ||||||||||
| Terminal Value | $29B | Net Worth/Share | $42 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $24B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $858M | $149 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 6.5% | 141 | 153 | 168 | 187 | 213 | |||
| Equity Value | $25B | 7.1% | 125 | 134 | 146 | 160 | 177 | ||||
| Shares Outstanding | 167,658,970 | 7.8% | 113 | 120 | 129 | 139 | 152 | ||||
| 8.4% | 103 | 108 | 115 | 123 | 132 | ||||||
| DCF Intrinsic Value | $149 | 9.0% | 95 | 99 | 104 | 111 | 118 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||