| Intrinsic Valuation of: ZM | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 6 | Market Cap | $30B | |||||
| 2022 | - | - (-) | P/E Ratio | 16 | Total Asset | $12B | |||||
| 2023 | $1B | - (-) | Net Income | $2B | Total Debt | $0 | |||||
| 2024 | $1B | 25.2% (21.5%) | EBITDA | $1B | Total Liab | $2B | |||||
| 2025 | $2B | 22.9% (19.2%) | Opr Margin | 23.08 | Debt/Equity | - | |||||
| 2026 | $2B | 6.3% (1.9%) | PreTax Margin | 23.08 | BV/Share | 35 | |||||
| 5Y Average FCF | $2B | 9.4% (14.2%) | |||||||||
| 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): | 9.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (9.4%) | ||||||||||
| 2027 | $2B | MBG Intrinsic Value | $55 | ||||||||
| 2028 | $2B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $3B | ||||||||||
| 2032 | $3B | ||||||||||
| Terminal Value | $40B | Net Worth/Share | $37 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $34B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $134 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.0% | 165 | 177 | 192 | 211 | 235 | |||
| Equity Value | $36B | 8.0% | 140 | 148 | 158 | 170 | 184 | ||||
| Shares Outstanding | 266,044,474 | 9.0% | 121 | 127 | 134 | 142 | 152 | ||||
| 10.0% | 107 | 112 | 117 | 122 | 129 | ||||||
| DCF Intrinsic Value | $134 | 11.0% | 96 | 100 | 103 | 108 | 112 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||