| Intrinsic Valuation of: ZG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -0 | Market Cap | $20B | |||||
| 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 | 30 | |||||
| 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 | $-2 | ||||||||
| 2027 | $402M | ||||||||||
| 2028 | $502M | ||||||||||
| 2029 | $627M | ||||||||||
| 2030 | $784M | ||||||||||
| 2031 | $980M | ||||||||||
| Terminal Value | $20B | Net Worth/Share | $97 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $16B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $340 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 299 | 321 | 348 | 380 | 422 | |||
| Equity Value | $17B | 7.4% | 296 | 318 | 344 | 376 | 416 | ||||
| Shares Outstanding | 50,090,000 | 7.4% | 294 | 315 | 340 | 372 | 411 | ||||
| 7.9% | 270 | 288 | 308 | 333 | 364 | ||||||
| DCF Intrinsic Value | $340 | 8.4% | 250 | 265 | 282 | 302 | 327 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||