| 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 | $16B | |||||
| 2021 | - | - (-) | P/E Ratio | 182 | Total Asset | $13B | |||||
| 2022 | $1B | - (-) | Net Income | $185M | Total Debt | $0 | |||||
| 2023 | $704M | -48.8% (-58.2%) | EBITDA | - | Total Liab | $9B | |||||
| 2024 | $504M | -28.4% (-48.7%) | Opr Margin | - | Debt/Equity | - | |||||
| 2025 | $1B | 99.1% (56.7%) | PreTax Margin | - | BV/Share | 0 | |||||
| 5Y Average FCF | $896M | 15.0% (-16.7%) | |||||||||
| 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): | 11.51% | 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 | $1B | MBG Intrinsic Value | $2 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $18B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $15B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $826M | $104 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 9.5% | 121 | 126 | 133 | 140 | 148 | |||
| Equity Value | $16B | 10.5% | 108 | 112 | 116 | 122 | 128 | ||||
| Shares Outstanding | 153,854,054 | 11.5% | 97 | 100 | 104 | 108 | 112 | ||||
| 12.5% | 88 | 91 | 94 | 97 | 100 | ||||||
| DCF Intrinsic Value | $104 | 13.5% | 81 | 83 | 85 | 88 | 90 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||