| Intrinsic Valuation of: TPG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -0 | Market Cap | $18B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $11B | |||||
| 2022 | $1B | - (-) | Net Income | $23M | Total Debt | $0 | |||||
| 2023 | $1B | -6.8% (249.9%) | EBITDA | - | Total Liab | $7B | |||||
| 2024 | $704M | -48.8% (-58.2%) | Opr Margin | - | Debt/Equity | - | |||||
| 2025 | $504M | -28.4% (-48.7%) | PreTax Margin | - | BV/Share | -2 | |||||
| 5Y Average FCF | $1B | -28.0% (47.7%) | |||||||||
| 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 | $524M | MBG Intrinsic Value | $-3 | ||||||||
| 2027 | $545M | ||||||||||
| 2028 | $567M | ||||||||||
| 2029 | $590M | ||||||||||
| 2030 | $613M | ||||||||||
| 2031 | $638M | ||||||||||
| Terminal Value | $13B | Net Worth/Share | $31 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $11B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $808M | $104 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 92 | 98 | 106 | 115 | 126 | |||
| Equity Value | $12B | 7.4% | 91 | 97 | 105 | 114 | 125 | ||||
| Shares Outstanding | 116,991,000 | 7.4% | 91 | 97 | 104 | 112 | 123 | ||||
| 7.9% | 84 | 89 | 95 | 102 | 110 | ||||||
| DCF Intrinsic Value | $104 | 8.4% | 78 | 83 | 87 | 93 | 100 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||