| Intrinsic Valuation of: Z | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -0 | Market Cap | $17B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $6B | |||||
| 2022 | $-3B | - (-) | Net Income | $-112M | Total Debt | $0 | |||||
| 2023 | $4B | 233.0% (244.8%) | EBITDA | $179M | Total Liab | $981M | |||||
| 2024 | $189M | -95.7% (-95.6%) | Opr Margin | -0.08 | Debt/Equity | - | |||||
| 2025 | $257M | 36.0% (18.3%) | PreTax Margin | -10.11 | BV/Share | 8 | |||||
| 5Y Average FCF | $382M | 57.8% (55.8%) | |||||||||
| 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 | $321M | MBG Intrinsic Value | $-3 | ||||||||
| 2027 | $402M | ||||||||||
| 2028 | $502M | ||||||||||
| 2029 | $627M | ||||||||||
| 2030 | $784M | ||||||||||
| 2031 | $980M | ||||||||||
| Terminal Value | $20B | Net Worth/Share | $26 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $16B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $93 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 82 | 88 | 95 | 104 | 115 | |||
| Equity Value | $17B | 7.4% | 81 | 87 | 94 | 103 | 114 | ||||
| Shares Outstanding | 183,360,000 | 7.4% | 80 | 86 | 93 | 102 | 112 | ||||
| 7.9% | 74 | 79 | 84 | 91 | 99 | ||||||
| DCF Intrinsic Value | $93 | 8.4% | 68 | 72 | 77 | 83 | 89 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||