| Intrinsic Valuation of: WBD | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -1 | Market Cap | $68B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $100B | |||||
| 2022 | $3B | - (-) | Net Income | $727M | Total Debt | $32B | |||||
| 2023 | $6B | 85.7% (52.0%) | EBITDA | $21B | Total Liab | $63B | |||||
| 2024 | $4B | -28.1% (-24.5%) | Opr Margin | 3.51 | Debt/Equity | 0.87 | |||||
| 2025 | $3B | -30.2% (-26.5%) | PreTax Margin | -2.08 | BV/Share | -15 | |||||
| 5Y Average FCF | $4B | 6.1% (0.3%) | |||||||||
| 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): | 10.25% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (6.1%) | ||||||||||
| 2026 | $4B | MBG Intrinsic Value | $-6 | ||||||||
| 2027 | $4B | ||||||||||
| 2028 | $4B | ||||||||||
| 2029 | $4B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $58B | Net Worth/Share | $15 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $50B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $5B | $9 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $32B | WACC | 8.2% | 13 | 14 | 16 | 18 | 20 | |||
| Equity Value | $22B | 9.2% | 10 | 11 | 12 | 13 | 15 | ||||
| Shares Outstanding | 2,507,136,702 | 10.2% | 7 | 8 | 9 | 10 | 11 | ||||
| 11.2% | 5 | 6 | 6 | 7 | 8 | ||||||
| DCF Intrinsic Value | $9 | 12.2% | 4 | 4 | 5 | 5 | 6 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||