Intrinsic Valuation of JUBLFOOD
	JUBLFOOD Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF Growth
	2021		$4,944,958,000	-9.09%		EPS (FY)	6.37		Market Cap	380B
	2020		$5,439,573,000	74.02%		P/E Ratio	81.77		Total Asset	48B
	2019		$3,125,863,000	11.57%		Net Income	4B		Total Debt	21B
	2018		$2,801,769,000	-6.48%		EBITDA	12B		Total Liab	28B
	2017		$2,995,850,000	2563.66%		Opr Margin	0.1697		Debt/Equity	1.08
	2016		$112,471,000			PreTax Margin	0.1373		BV/Share	-
	5Y Average FCF		$3,861,602,600	17.50%
						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):	9.25%				Current US Bond Yield:			1.48%
	Forcasting Future Free Cash Flow for next 6Y					Modified Benjamin Graham's Intrinsic Value
	Year		FCF Projection
	2022		$5,810,505,239			MBG Intrinsic Value			$134.32
	2023		$6,827,554,681
	2024		$8,022,624,711
	2025		$9,426,875,398
	2026		$11,076,920,956
	2027		$13,015,784,411
	Terminal Value		$197,609,486,551			Net Worth/Share			$29.63
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$144,949,885,427				Growth Rate
	(+) Cash & Cash Equivalents	$6,630,388,000			197.80	1.50%	2.00%	2.50%	3.00%	3.50%
	(-) Total Debt	$21,060,953,000		WACC	9.15%	178.6	189.3	201.5	215.8	232.6
	Equity Value	$130,519,320,427			9.20%	177.1	187.6	199.7	213.7	230.1
	Shares Outstanding	659845000			9.25%	175.7	186.0	197.8	211.6	227.7
					9.75%	162.2	171.0	181.0	192.6	205.9
	DCF Intrinsic Value	$197.80			10.25%	150.2	157.8	166.4	176.2	187.4
© Swarnadeep Seth (2022)			Ignored due to the abrupt increase in the Cash Flow percentage