| Intrinsic Valuation of: VOD | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -2 | Market Cap | $27B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $129B | |||||
| 2022 | $11B | - (-) | Net Income | $-4B | Total Debt | $38B | |||||
| 2023 | $10B | -7.7% (-9.3%) | EBITDA | $12B | Total Liab | $75B | |||||
| 2024 | $10B | -5.8% (-3.4%) | Opr Margin | 0.11 | Debt/Equity | 0.70 | |||||
| 2025 | $9B | -10.5% (-12.3%) | PreTax Margin | 4.94 | BV/Share | 8 | |||||
| 5Y Average FCF | $10B | -8.0% (-8.3%) | |||||||||
| 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 | $9B | MBG Intrinsic Value | $-17 | ||||||||
| 2027 | $9B | ||||||||||
| 2028 | $10B | ||||||||||
| 2029 | $10B | ||||||||||
| 2030 | $11B | ||||||||||
| 2031 | $11B | ||||||||||
| Terminal Value | $228B | Net Worth/Share | $22 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $195B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $9B | $68 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $38B | WACC | 7.3% | 58 | 63 | 70 | 77 | 87 | |||
| Equity Value | $166B | 7.4% | 58 | 63 | 69 | 76 | 85 | ||||
| Shares Outstanding | 2,450,330,112 | 7.4% | 57 | 62 | 68 | 75 | 84 | ||||
| 7.9% | 52 | 56 | 61 | 66 | 73 | ||||||
| DCF Intrinsic Value | $68 | 8.4% | 47 | 50 | 54 | 59 | 65 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||