| Intrinsic Valuation of: TLN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -1 | Market Cap | $15B | |||||
| 2021 | $-541M | - (-) | P/E Ratio | - | Total Asset | $11B | |||||
| 2022 | $-125M | 76.9 (83.0) | Net Income | $-219M | Total Debt | $7B | |||||
| 2023 | $-125M | 0.0% (0.0%) | EBITDA | $512M | Total Liab | $10B | |||||
| 2024 | $67M | 153.6% (162.4%) | Opr Margin | 0.61 | Debt/Equity | 6.20 | |||||
| 2025 | $498M | 643.3% (486.8%) | PreTax Margin | -10.89 | BV/Share | 24 | |||||
| 5Y Average FCF | $-45M | 15.0% (216.4%) | |||||||||
| 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): | 9.81% | 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 | $498M | MBG Intrinsic Value | $-5 | ||||||||
| 2027 | $561M | ||||||||||
| 2028 | $617M | ||||||||||
| 2029 | $663M | ||||||||||
| 2030 | $696M | ||||||||||
| 2031 | $713M | ||||||||||
| Terminal Value | $10B | Net Worth/Share | $24 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $8B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $689M | $50 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $7B | WACC | 7.8% | 89 | 104 | 121 | 142 | 168 | |||
| Equity Value | $2B | 8.8% | 58 | 68 | 80 | 94 | 111 | ||||
| Shares Outstanding | 45,395,007 | 9.8% | 34 | 42 | 50 | 60 | 71 | ||||
| 10.8% | 15 | 21 | 27 | 35 | 43 | ||||||
| DCF Intrinsic Value | $50 | 11.8% | 0 | 5 | 10 | 15 | 21 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||