| Intrinsic Valuation of: TRMB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 2 | Market Cap | $13B | |||||
| 2021 | - | - (-) | P/E Ratio | 29 | Total Asset | $9B | |||||
| 2022 | $348M | - (-) | Net Income | $424M | Total Debt | $1B | |||||
| 2023 | $555M | 59.5% (54.4%) | EBITDA | $784M | Total Liab | $3B | |||||
| 2024 | $498M | -10.3% (-7.5%) | Opr Margin | 17.04 | Debt/Equity | 0.24 | |||||
| 2025 | $361M | -27.5% (-25.6%) | PreTax Margin | 14.97 | BV/Share | -1 | |||||
| 5Y Average FCF | $440M | 2.5% (7.1%) | |||||||||
| 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): | 10.76% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (2.5%) | ||||||||||
| 2026 | $394M | MBG Intrinsic Value | $17 | ||||||||
| 2027 | $404M | ||||||||||
| 2028 | $414M | ||||||||||
| 2029 | $424M | ||||||||||
| 2030 | $435M | ||||||||||
| 2031 | $446M | ||||||||||
| Terminal Value | $6B | Net Worth/Share | $25 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $5B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $253M | $16 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 8.8% | 19 | 21 | 22 | 24 | 26 | |||
| Equity Value | $4B | 9.8% | 16 | 17 | 18 | 20 | 21 | ||||
| Shares Outstanding | 233,111,519 | 10.8% | 14 | 15 | 16 | 16 | 17 | ||||
| 11.8% | 12 | 13 | 13 | 14 | 15 | ||||||
| DCF Intrinsic Value | $16 | 12.8% | 11 | 11 | 12 | 12 | 13 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||