| Intrinsic Valuation of: RYAAY | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $31B | |||||
| 2021 | - | - (-) | P/E Ratio | 17 | Total Asset | $18B | |||||
| 2022 | $759M | - (-) | Net Income | $2B | Total Debt | $2B | |||||
| 2023 | $2B | 160.4% (16.0%) | EBITDA | $3B | Total Liab | $10B | |||||
| 2024 | $766M | -61.2% (-68.9%) | Opr Margin | 0.11 | Debt/Equity | 0.24 | |||||
| 2025 | $2B | 143.2% (134.4%) | PreTax Margin | 10.69 | BV/Share | 13 | |||||
| 5Y Average FCF | $1B | 80.8% (27.2%) | |||||||||
| 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 | $31 | ||||||||
| 2027 | $3B | ||||||||||
| 2028 | $4B | ||||||||||
| 2029 | $5B | ||||||||||
| 2030 | $6B | ||||||||||
| 2031 | $7B | ||||||||||
| Terminal Value | $148B | Net Worth/Share | $13 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $116B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $4B | $222 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $2B | WACC | 7.3% | 194 | 209 | 227 | 250 | 278 | |||
| Equity Value | $118B | 7.4% | 192 | 207 | 225 | 247 | 274 | ||||
| Shares Outstanding | 530,948,992 | 7.4% | 190 | 205 | 222 | 244 | 270 | ||||
| 7.9% | 174 | 186 | 200 | 217 | 238 | ||||||
| DCF Intrinsic Value | $222 | 8.4% | 160 | 170 | 182 | 196 | 213 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||