| Intrinsic Valuation of: TRI | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | $91B | |||||
| 2021 | - | - (-) | P/E Ratio | 42 | Total Asset | $18B | |||||
| 2022 | $1B | - (-) | Net Income | $2B | Total Debt | $2B | |||||
| 2023 | $1B | 2.6% (-1.7%) | EBITDA | $3B | Total Liab | $6B | |||||
| 2024 | $2B | 36.1% (32.8%) | Opr Margin | 0.26 | Debt/Equity | 0.15 | |||||
| 2025 | $2B | 2.9% (-3.6%) | PreTax Margin | 23.35 | BV/Share | 0 | |||||
| 5Y Average FCF | $2B | 13.9% (9.2%) | |||||||||
| 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 (13.9%) | ||||||||||
| 2026 | $2B | MBG Intrinsic Value | $43 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $3B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $84B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $68B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $2B | $152 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $2B | WACC | 7.3% | 133 | 143 | 155 | 170 | 189 | |||
| Equity Value | $68B | 7.4% | 131 | 141 | 153 | 168 | 187 | ||||
| Shares Outstanding | 450,478,016 | 7.4% | 130 | 140 | 152 | 166 | 184 | ||||
| 7.9% | 119 | 128 | 137 | 148 | 163 | ||||||
| DCF Intrinsic Value | $152 | 8.4% | 110 | 117 | 125 | 134 | 145 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||