| Intrinsic Valuation of: VRTX | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -4 | Market Cap | $116B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $23B | |||||
| 2022 | $2B | - (-) | Net Income | $-536M | Total Debt | $0 | |||||
| 2023 | $4B | 63.0% (38.2%) | EBITDA | $486M | Total Liab | $6B | |||||
| 2024 | $3B | -16.5% (-24.4%) | Opr Margin | 0.40 | Debt/Equity | - | |||||
| 2025 | $-978M | -129.8% (-126.7%) | PreTax Margin | 39.60 | BV/Share | 56 | |||||
| 5Y Average FCF | $2B | -27.8% (-37.6%) | |||||||||
| 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 | $2B | MBG Intrinsic Value | $-34 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $3B | ||||||||||
| Terminal Value | $57B | Net Worth/Share | $64 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $49B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $5B | $207 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 184 | 196 | 211 | 229 | 251 | |||
| Equity Value | $53B | 7.4% | 183 | 195 | 209 | 226 | 248 | ||||
| Shares Outstanding | 256,796,992 | 7.4% | 181 | 193 | 207 | 224 | 245 | ||||
| 7.9% | 168 | 178 | 189 | 203 | 219 | ||||||
| DCF Intrinsic Value | $207 | 8.4% | 157 | 165 | 175 | 186 | 199 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||