Intrinsic Valuation of: VLYPN
	Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF (FCF/Revenue)
	2020		-	-		EPS (FY)	-		Market Cap	-
	2021		-	- (-)		P/E Ratio	-		Total Asset	$62B
	2022		$837M	- (-)		Net Income	$380M		Total Debt	$3B
	2023		$1B	70.6% (25.1%)		EBITDA	-		Total Liab	$55B
	2024		$378M	-73.5% (-73.8%)		Opr Margin	-		Debt/Equity	0.43
	2025		$549M	45.0% (48.0%)		PreTax Margin	-		BV/Share	-
	5Y Average FCF		$798M	14.1% (-0.2%)
						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 (14.1%)
	2026		$626M			MBG Intrinsic Value			-
	2027		$714M
	2028		$814M
	2029		$928M
	2030		$1B
	2031		$1B
	Terminal Value		$25B			Net Worth/Share			-
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$20B				Growth Rate
	(+) Cash & Cash Equivalents	$2B			$19B	1.5%	2.0%	2.5%	3.0%	3.5%
	(-) Total Debt	$3B		WACC	7.3%	16,501,060,449	17,864,985,078	19,511,295,759	21,537,816,760	24,093,455,515
	Equity Value	$19B			7.4%	16,339,096,824	17,675,739,068	19,286,283,410	21,264,531,941	23,752,638,340
	Shares Outstanding	-			7.4%	16,179,886,932	17,490,001,817	19,065,860,086	20,997,442,569	23,420,521,868
					7.9%	14,725,097,883	15,806,071,840	17,086,120,190	18,625,813,236	20,513,066,789
	DCF Intrinsic Value	$19B			8.4%	13,482,099,717	14,385,957,883	15,442,237,325	16,693,043,367	18,197,562,603
Analyzed by QuantJuice (2025)