| Intrinsic Valuation of: TROW | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $22B | |||||
| 2021 | - | - (-) | P/E Ratio | 11 | Total Asset | $14B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $0 | |||||
| 2023 | $911M | -57.1% (-56.9%) | EBITDA | $3B | Total Liab | $2B | |||||
| 2024 | $1B | 38.5% (26.2%) | Opr Margin | 33.87 | Debt/Equity | - | |||||
| 2025 | $1B | 17.2% (13.6%) | PreTax Margin | 33.87 | BV/Share | 37 | |||||
| 5Y Average FCF | $1B | 3.5% (-5.7%) | |||||||||
| 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): | 11.91% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (3.5%) | ||||||||||
| 2026 | $2B | MBG Intrinsic Value | $84 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $19B | Net Worth/Share | $56 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $16B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $92 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 9.9% | 105 | 109 | 113 | 118 | 124 | |||
| Equity Value | $20B | 10.9% | 95 | 98 | 101 | 105 | 109 | ||||
| Shares Outstanding | 214,266,606 | 11.9% | 87 | 90 | 92 | 95 | 98 | ||||
| 12.9% | 81 | 83 | 85 | 87 | 89 | ||||||
| DCF Intrinsic Value | $92 | 13.9% | 76 | 77 | 79 | 81 | 82 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||