| Intrinsic Valuation of: TRI | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $36B | |||||
| 2021 | - | - (-) | P/E Ratio | 24 | Total Asset | $18B | |||||
| 2022 | $1B | - (-) | Net Income | $2B | Total Debt | $1B | |||||
| 2023 | $2B | 36.1% (32.8%) | EBITDA | $3B | Total Liab | $6B | |||||
| 2024 | $2B | 2.9% (-3.6%) | Opr Margin | 26.61 | Debt/Equity | 0.11 | |||||
| 2025 | $2B | 9.0% (5.8%) | PreTax Margin | 24.16 | BV/Share | -2 | |||||
| 5Y Average FCF | $2B | 8.9% (11.7%) | |||||||||
| 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): | 7.11% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (8.9%) | ||||||||||
| 2026 | $2B | MBG Intrinsic Value | $31 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $3B | ||||||||||
| Terminal Value | $60B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $51B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $371M | $115 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 6.5% | 110 | 120 | 132 | 148 | 170 | |||
| Equity Value | $50B | 7.2% | 97 | 104 | 114 | 125 | 139 | ||||
| Shares Outstanding | 436,538,837 | 7.8% | 87 | 92 | 99 | 108 | 118 | ||||
| 8.4% | 78 | 83 | 88 | 94 | 102 | ||||||
| DCF Intrinsic Value | $115 | 9.1% | 71 | 75 | 79 | 84 | 90 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||