| Intrinsic Valuation of: SBAC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $21B | |||||
| 2021 | - | - (-) | P/E Ratio | 21 | Total Asset | $12B | |||||
| 2022 | $1B | - (-) | Net Income | $1B | Total Debt | $11B | |||||
| 2023 | $1B | 22.1% (18.6%) | EBITDA | $2B | Total Liab | $16B | |||||
| 2024 | $1B | -15.4% (-14.4%) | Opr Margin | 55.21 | Debt/Equity | -2.30 | |||||
| 2025 | $1B | -3.6% (-8.3%) | PreTax Margin | 38.28 | BV/Share | -73 | |||||
| 5Y Average FCF | $1B | 2.5% (-1.4%) | |||||||||
| 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): | 7.45% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (2.5%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $85 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $26B | Net Worth/Share | $-45 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $22B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $265M | $110 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $11B | WACC | 6.5% | 118 | 137 | 161 | 191 | 232 | |||
| Equity Value | $12B | 7.2% | 89 | 103 | 120 | 141 | 167 | ||||
| Shares Outstanding | 106,063,017 | 8.0% | 68 | 78 | 90 | 105 | 123 | ||||
| 8.7% | 50 | 58 | 68 | 79 | 92 | ||||||
| DCF Intrinsic Value | $110 | 9.4% | 36 | 43 | 50 | 58 | 68 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||