Intrinsic Valuation of EICHERMOT
	EICHERMOT Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF Growth
	2021		$12,976,200,000	-3.30%		EPS (FY)	61.26		Market Cap	844B
	2020		$13,419,500,000	-5.02%		P/E Ratio	50.35		Total Asset	163B
	2019		$14,128,600,000	51.23%		Net Income	17B		Total Debt	1B
	2018		$9,342,400,000	-47.93%		EBITDA	22B		Total Liab	36B
	2017		$17,940,800,000	54.48%		Opr Margin	0.1671		Debt/Equity	0.01
	2016		$11,613,900,000			PreTax Margin	0.2080		BV/Share	461.12
	5Y Average FCF		$13,561,500,000	9.89%
						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):	9.73%				Current US Bond Yield:			1.48%
	Forcasting Future Free Cash Flow for next 6Y					Modified Benjamin Graham's Intrinsic Value
	Year		FCF Projection
	2022		$14,259,782,257			MBG Intrinsic Value			$1,292.67
	2023		$15,670,334,153
	2024		$17,220,415,292
	2025		$18,923,827,658
	2026		$20,795,738,497
	2027		$22,852,815,373
	Terminal Value		$323,971,819,823			Net Worth/Share			$463.50
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$247,389,533,135				Growth Rate
	(+) Cash & Cash Equivalents	$31,471,600,000			1016.06	1.50%	2.00%	2.50%	3.00%	3.50%
	(-) Total Debt	$1,077,100,000		WACC	9.63%	946.6	985.5	1029.7	1080.6	1139.9
	Equity Value	$277,784,033,135			9.68%	941.1	979.3	1022.9	1072.9	1131.1
	Shares Outstanding	273393761			9.73%	935.6	973.3	1016.1	1065.3	1122.4
					10.23%	884.4	916.8	953.4	995.1	1043.0
	DCF Intrinsic Value	$1,016.06			10.73%	838.9	867.0	898.6	934.2	974.8
© Swarnadeep Seth (2022)