Intrinsic Valuation of AMZN
	AMZN Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF Growth
	2021		($14,726,000,000)	-156.80%		EPS (FY)	3.24		Market Cap	1268B
	2020		$25,924,000,000	19.72%		P/E Ratio	59.21		Total Asset	411B
	2019		$21,653,000,000	25.19%		Net Income	33B		Total Debt	132B
	2018		$17,296,000,000	169.83%		EBITDA	56B		Total Liab	282B
	2017		$6,410,000,000	-33.96%		Opr Margin	0.0418		Debt/Equity	0.97
	2016		$9,706,000,000			PreTax Margin	0.0473		BV/Share	13.58
	5Y Average FCF		$11,311,400,000	4.80%
						Overall Market Assumptions:
	Assumptions:					P/E for No-Growth Company:			7.00
	Perpetual Growth Rate (g):	2.50%				Historical US Bond Yield:			4.40%
	Discount Rete (WACC):	10.08%				Current US Bond Yield:			1.48%
	Forcasting Future Free Cash Flow for next 6Y					Modified Benjamin Graham's Intrinsic Value
	Year		FCF Projection
	2022		($15,432,290,073)			MBG Intrinsic Value			$68.38
	2023		($16,172,455,311)
	2024		($16,948,120,437)
	2025		($17,760,988,102)
	2026		($18,612,842,617)
	2027		($19,505,553,875)
	Terminal Value		($263,649,356,461)			Net Worth/Share			$12.69
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	($209,216,248,439)				Growth Rate
	(+) Cash & Cash Equivalents	$96,309,000,000			-24.23	1.50%	2.00%	2.50%	3.00%	3.50%
	(-) Total Debt	$132,318,000,000		WACC	9.98%	-22.8	-23.6	-24.5	-25.6	-26.8
	Equity Value	($245,225,248,439)			10.03%	-22.7	-23.5	-24.4	-25.4	-26.6
	Shares Outstanding	10120000000			10.08%	-22.6	-23.4	-24.2	-25.3	-26.4
					10.58%	-21.5	-22.2	-22.9	-23.8	-24.8
	DCF Intrinsic Value	-$24.23			11.08%	-20.5	-21.1	-21.7	-22.5	-23.3
Swarnadeep Seth (2022)