| Intrinsic Valuation of: VRSN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $27B | |||||
| 2021 | - | - (-) | P/E Ratio | 33 | Total Asset | $1B | |||||
| 2022 | $804M | - (-) | Net Income | $826M | Total Debt | $2B | |||||
| 2023 | $808M | 0.5% (-4.1%) | EBITDA | $1B | Total Liab | $3B | |||||
| 2024 | $874M | 8.2% (3.8%) | Opr Margin | 67.67 | Debt/Equity | -0.83 | |||||
| 2025 | $1B | 22.2% (14.8%) | PreTax Margin | 67.67 | BV/Share | -26 | |||||
| 5Y Average FCF | $889M | 7.2% (4.8%) | |||||||||
| 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): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (7.2%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $81 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $31B | Net Worth/Share | $-24 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $26B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $308M | $271 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $2B | WACC | 6.5% | 254 | 278 | 307 | 345 | 396 | |||
| Equity Value | $25B | 7.1% | 224 | 242 | 264 | 291 | 326 | ||||
| Shares Outstanding | 91,000,000 | 7.8% | 199 | 213 | 230 | 250 | 275 | ||||
| 8.4% | 179 | 190 | 204 | 219 | 238 | ||||||
| DCF Intrinsic Value | $271 | 9.0% | 163 | 172 | 183 | 195 | 209 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||