| Intrinsic Valuation of: ON | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 1 | Market Cap | $20B | |||||
| 2021 | - | - (-) | P/E Ratio | 47 | Total Asset | $14B | |||||
| 2022 | $1B | - (-) | Net Income | $2B | Total Debt | $3B | |||||
| 2023 | $2B | 23.8% (0.2%) | EBITDA | $3B | Total Liab | $5B | |||||
| 2024 | $438M | -72.6% (-72.3%) | Opr Margin | 0.27 | Debt/Equity | 0.38 | |||||
| 2025 | $1B | 176.6% (222.3%) | PreTax Margin | 25.97 | BV/Share | 17 | |||||
| 5Y Average FCF | $1B | 42.6% (50.1%) | |||||||||
| 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 | $2B | MBG Intrinsic Value | $9 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $5B | ||||||||||
| Terminal Value | $96B | Net Worth/Share | $22 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $75B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $183 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $3B | WACC | 7.3% | 159 | 171 | 187 | 206 | 230 | |||
| Equity Value | $75B | 7.4% | 157 | 170 | 185 | 203 | 226 | ||||
| Shares Outstanding | 408,974,016 | 7.4% | 156 | 168 | 183 | 201 | 223 | ||||
| 7.9% | 142 | 152 | 164 | 179 | 196 | ||||||
| DCF Intrinsic Value | $183 | 8.4% | 130 | 139 | 149 | 161 | 175 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||