| Intrinsic Valuation of: TRMB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 6 | Market Cap | $18B | |||||
| 2021 | - | - (-) | P/E Ratio | 12 | Total Asset | $9B | |||||
| 2022 | $704M | - (-) | Net Income | $2B | Total Debt | $1B | |||||
| 2023 | $348M | -50.6% (-50.8%) | EBITDA | $2B | Total Liab | $4B | |||||
| 2024 | $555M | 59.5% (54.4%) | Opr Margin | 0.13 | Debt/Equity | 0.24 | |||||
| 2025 | $498M | -10.3% (-7.5%) | PreTax Margin | 10.48 | BV/Share | -1 | |||||
| 5Y Average FCF | $526M | -0.5% (-1.3%) | |||||||||
| 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 | $518M | MBG Intrinsic Value | $55 | ||||||||
| 2027 | $538M | ||||||||||
| 2028 | $560M | ||||||||||
| 2029 | $582M | ||||||||||
| 2030 | $606M | ||||||||||
| 2031 | $630M | ||||||||||
| Terminal Value | $13B | Net Worth/Share | $24 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $11B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $739M | $44 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 7.3% | 39 | 42 | 45 | 50 | 55 | |||
| Equity Value | $11B | 7.4% | 38 | 41 | 45 | 49 | 54 | ||||
| Shares Outstanding | 238,587,008 | 7.4% | 38 | 41 | 44 | 48 | 54 | ||||
| 7.9% | 35 | 37 | 40 | 43 | 47 | ||||||
| DCF Intrinsic Value | $44 | 8.4% | 32 | 34 | 36 | 39 | 42 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||