How the value is built
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Assumptions
Open a section to change it. Values marked Alpha AI were set by Alpha AI after checking the company's history; grey values come straight from its numbers; anything you change turns gold and is remembered for this ticker.
Cash flow forecast
Click any projected cell to type your own number: growth, margin, CapEx or the free cash flow itself. Mix and match, the rest keeps following the assumptions.
Sensitivity
Value per share for other discount rates and terminal assumptions.
What the price implies
The constant revenue growth that makes the DCF equal today's price, with everything else as you set it.
Scenarios
Bear and bull move revenue growth by 40% of your forecast (at least 2 points a year), the cash flow margin by 3 points, CapEx by 1 point of revenue, the discount rate by 1 point and the terminal growth by half a point (or the exit multiple by 2×).
How this DCF is calculated
- Revenue starts from the last reported fiscal year. Where Wall Street analysts publish a revenue consensus (usually the next two fiscal years) it is used by default; after that, growth fades in a straight line to your final-year rate.
- Free cash flow = revenue × operating cash flow margin − revenue × CapEx %. Any year can be overridden by hand.
- Unlevered free cash flow adds back interest after tax, because operating cash flow already paid the lenders and the debt is subtracted at the end.
- Discount rate: WACC = equity weight × (risk-free + beta × (market return − risk-free)) + debt weight × cost of debt × (1 − tax rate).
- Valuation date is the latest balance sheet, so cash and debt match it. Only the part of the first fiscal year after that date is counted, and every cash flow is discounted from that date.
- Terminal value: last unlevered FCF × (1 + g) ÷ (WACC − g), or last FCF × exit multiple, discounted from the end of the forecast.
- Value per share = (present value of the cash flows + present value of the terminal value + cash − debt) ÷ shares outstanding (all share classes).