| Intrinsic Valuation of: TER | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 4 | Market Cap | $15B | |||||
| 2021 | - | - (-) | P/E Ratio | 26 | Total Asset | $4B | |||||
| 2022 | $966M | - (-) | Net Income | $542M | Total Debt | $0 | |||||
| 2023 | $415M | -57.1% (-49.6%) | EBITDA | $732M | Total Liab | $889M | |||||
| 2024 | $426M | 2.6% (21.0%) | Opr Margin | 0.20 | Debt/Equity | - | |||||
| 2025 | $474M | 11.4% (5.7%) | PreTax Margin | 19.46 | BV/Share | 15 | |||||
| 5Y Average FCF | $570M | -14.3% (-7.6%) | |||||||||
| 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 (4.0%) | ||||||||||
| 2026 | $493M | MBG Intrinsic Value | $32 | ||||||||
| 2027 | $513M | ||||||||||
| 2028 | $533M | ||||||||||
| 2029 | $555M | ||||||||||
| 2030 | $577M | ||||||||||
| 2031 | $600M | ||||||||||
| Terminal Value | $12B | Net Worth/Share | $18 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $11B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $553M | $70 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 62 | 66 | 71 | 78 | 85 | |||
| Equity Value | $11B | 7.4% | 61 | 66 | 71 | 77 | 84 | ||||
| Shares Outstanding | 160,420,000 | 7.4% | 61 | 65 | 70 | 76 | 83 | ||||
| 7.9% | 56 | 60 | 64 | 68 | 74 | ||||||
| DCF Intrinsic Value | $70 | 8.4% | 53 | 55 | 59 | 62 | 67 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||