| Intrinsic Valuation of: OKTA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 1 | Market Cap | $17B | |||||
| 2021 | - | - (-) | P/E Ratio | 152 | Total Asset | $9B | |||||
| 2022 | $87M | - (-) | Net Income | $28M | Total Debt | $349M | |||||
| 2023 | $63M | -27.6% (-49.3%) | EBITDA | $139M | Total Liab | $3B | |||||
| 2024 | $488M | 674.6% (536.0%) | Opr Margin | -0.02 | Debt/Equity | 0.05 | |||||
| 2025 | $730M | 49.6% (29.7%) | PreTax Margin | -2.61 | BV/Share | 5 | |||||
| 5Y Average FCF | $342M | 232.2% (172.1%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | $912M | MBG Intrinsic Value | $6 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $3B | ||||||||||
| Terminal Value | $58B | Net Worth/Share | $38 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $45B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $409M | $272 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $349M | WACC | 7.3% | 236 | 255 | 278 | 306 | 341 | |||
| Equity Value | $45B | 7.4% | 234 | 252 | 275 | 302 | 336 | ||||
| Shares Outstanding | 167,163,008 | 7.4% | 232 | 250 | 272 | 298 | 332 | ||||
| 7.9% | 212 | 227 | 244 | 266 | 292 | ||||||
| DCF Intrinsic Value | $272 | 8.4% | 195 | 207 | 222 | 239 | 260 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||