| Intrinsic Valuation of: WBD | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -4 | Market Cap | $28B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $105B | |||||
| 2022 | $2B | - (-) | Net Income | $-11B | Total Debt | $37B | |||||
| 2023 | $3B | 36.8% (-50.7%) | EBITDA | $12B | Total Liab | $70B | |||||
| 2024 | $6B | 85.7% (52.0%) | Opr Margin | 0.00 | Debt/Equity | 1.05 | |||||
| 2025 | $4B | -28.1% (-24.5%) | PreTax Margin | -5.08 | BV/Share | -17 | |||||
| 5Y Average FCF | $4B | 31.5% (-7.7%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | $6B | MBG Intrinsic Value | $-38 | ||||||||
| 2027 | $7B | ||||||||||
| 2028 | $9B | ||||||||||
| 2029 | $11B | ||||||||||
| 2030 | $14B | ||||||||||
| 2031 | $17B | ||||||||||
| Terminal Value | $351B | Net Worth/Share | $14 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $275B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $5B | $98 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $37B | WACC | 7.3% | 84 | 92 | 101 | 112 | 127 | |||
| Equity Value | $244B | 7.4% | 83 | 91 | 100 | 111 | 125 | ||||
| Shares Outstanding | 2,474,070,016 | 7.4% | 82 | 90 | 98 | 109 | 123 | ||||
| 7.9% | 74 | 80 | 87 | 96 | 107 | ||||||
| DCF Intrinsic Value | $98 | 8.4% | 67 | 72 | 78 | 85 | 94 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||