| Intrinsic Valuation of: PTC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $16B | |||||
| 2021 | - | - (-) | P/E Ratio | 14 | Total Asset | $7B | |||||
| 2022 | $409M | - (-) | Net Income | $734M | Total Debt | $1B | |||||
| 2023 | $587M | 43.4% (32.2%) | EBITDA | $1B | Total Liab | $3B | |||||
| 2024 | $736M | 25.3% (14.3%) | Opr Margin | 36.43 | Debt/Equity | 0.31 | |||||
| 2025 | $857M | 16.5% (-2.3%) | PreTax Margin | 33.62 | BV/Share | -4 | |||||
| 5Y Average FCF | $647M | 15.0% (14.7%) | |||||||||
| 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): | 8.62% | 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 | $913M | MBG Intrinsic Value | $93 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $22B | Net Worth/Share | $33 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $18B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $184M | $151 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 6.6% | 191 | 208 | 229 | 256 | 292 | |||
| Equity Value | $17B | 7.6% | 157 | 169 | 182 | 199 | 219 | ||||
| Shares Outstanding | 115,505,791 | 8.6% | 134 | 141 | 151 | 161 | 174 | ||||
| 9.6% | 116 | 121 | 128 | 135 | 144 | ||||||
| DCF Intrinsic Value | $151 | 10.6% | 101 | 106 | 111 | 116 | 122 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||