| Intrinsic Valuation of: TSCO | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 2 | Market Cap | $29B | |||||
| 2021 | - | - (-) | P/E Ratio | 26 | Total Asset | $10B | |||||
| 2022 | $510M | - (-) | Net Income | $1B | Total Debt | $2B | |||||
| 2023 | $584M | 14.4% (2.5%) | EBITDA | $2B | Total Liab | $8B | |||||
| 2024 | $580M | -0.6% (-3.0%) | Opr Margin | 0.10 | Debt/Equity | 0.81 | |||||
| 2025 | $637M | 9.8% (7.3%) | PreTax Margin | 9.49 | BV/Share | 4 | |||||
| 5Y Average FCF | $578M | 7.8% (2.3%) | |||||||||
| 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 (7.8%) | ||||||||||
| 2026 | $687M | MBG Intrinsic Value | $18 | ||||||||
| 2027 | $741M | ||||||||||
| 2028 | $799M | ||||||||||
| 2029 | $861M | ||||||||||
| 2030 | $929M | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $21B | Net Worth/Share | $4 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $17B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $251M | $30 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $2B | WACC | 7.3% | 26 | 28 | 31 | 34 | 38 | |||
| Equity Value | $16B | 7.4% | 26 | 28 | 30 | 33 | 37 | ||||
| Shares Outstanding | 530,203,008 | 7.4% | 25 | 27 | 30 | 33 | 37 | ||||
| 7.9% | 23 | 25 | 27 | 29 | 32 | ||||||
| DCF Intrinsic Value | $30 | 8.4% | 21 | 23 | 24 | 26 | 29 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||