| 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 | $9B | |||||
| 2021 | - | - (-) | P/E Ratio | 151 | Total Asset | $6B | |||||
| 2022 | $4B | - (-) | Net Income | $23M | Total Debt | $0 | |||||
| 2023 | $189M | -95.7% (-95.6%) | EBITDA | $315M | Total Liab | $801M | |||||
| 2024 | $257M | 36.0% (18.3%) | Opr Margin | -1.24 | Debt/Equity | - | |||||
| 2025 | $101M | -60.7% (-66.0%) | PreTax Margin | -1.94 | BV/Share | 8 | |||||
| 5Y Average FCF | $1B | 3.5% (-47.8%) | |||||||||
| 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): | 14.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (3.5%) | ||||||||||
| 2026 | $454M | MBG Intrinsic Value | $2 | ||||||||
| 2027 | $469M | ||||||||||
| 2028 | $484M | ||||||||||
| 2029 | $498M | ||||||||||
| 2030 | $511M | ||||||||||
| 2031 | $524M | ||||||||||
| Terminal Value | $5B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $4B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $768M | $26 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 12.0% | 30 | 30 | 31 | 32 | 33 | |||
| Equity Value | $5B | 12.5% | 28 | 29 | 30 | 31 | 32 | ||||
| Shares Outstanding | 180,224,115 | 13.0% | 27 | 28 | 29 | 29 | 30 | ||||
| 13.5% | 26 | 27 | 28 | 28 | 29 | ||||||
| DCF Intrinsic Value | $26 | 14.0% | 25 | 26 | 26 | 27 | 28 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||