| Intrinsic Valuation of: TER | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | $53B | |||||
| 2021 | - | - (-) | P/E Ratio | 62 | Total Asset | $4B | |||||
| 2022 | $415M | - (-) | Net Income | $554M | Total Debt | $0 | |||||
| 2023 | $426M | 2.6% (21.0%) | EBITDA | $788M | Total Liab | $1B | |||||
| 2024 | $474M | 11.4% (5.7%) | Opr Margin | 21.59 | Debt/Equity | - | |||||
| 2025 | $450M | -5.0% (-16.0%) | PreTax Margin | 21.37 | BV/Share | 14 | |||||
| 5Y Average FCF | $441M | 2.5% (3.6%) | |||||||||
| 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): | 13.34% | 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 | $459M | MBG Intrinsic Value | $49 | ||||||||
| 2027 | $470M | ||||||||||
| 2028 | $482M | ||||||||||
| 2029 | $494M | ||||||||||
| 2030 | $506M | ||||||||||
| 2031 | $519M | ||||||||||
| Terminal Value | $5B | Net Worth/Share | $18 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $4B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $294M | $29 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 11.3% | 33 | 34 | 35 | 36 | 38 | |||
| Equity Value | $5B | 12.0% | 31 | 32 | 33 | 34 | 35 | ||||
| Shares Outstanding | 156,542,162 | 12.7% | 29 | 30 | 31 | 32 | 33 | ||||
| 13.3% | 27 | 28 | 29 | 30 | 31 | ||||||
| DCF Intrinsic Value | $29 | 14.0% | 26 | 27 | 27 | 28 | 29 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||