Stock Analyzer.

Bear, base and bull valuations side by side

从 DCF 恢复共享模型，或输入代码切换三页的当前公司。

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USD millions

Reference price ($)Forecast horizonTerminal method

Operating drivers	Latest FY	5Y average	10Y average	Bear	Base	Bull

5Y / 10Y = average of annual ratios; — marks missing years.

Starting financials USD millions

Key assumptions & formulas

Scenarios: Base follows DCF yearly assumptions; editing a Base driver applies it to all forecast years. Bear and Bull use fixed assumptions. For a 10-year forecast, Base years 6–10 repeat year 5.
Cash flow: FCFF = EBIT − max(EBIT, 0) × tax rate + D&A − CapEx − ΔNWC. NWC = revenue × NWC ratio; the first change uses the imported starting NWC.
Valuation: Discount FCFF and terminal value at year-end using WACC. Terminal value = final-year FCFF × (1 + g) ÷ (WACC − g), or final-year EBITDA × exit multiple. Growth valuation requires WACC > g.
Value per share: Value per share = (enterprise value + cash − debt) ÷ valuation shares. Upside = value per share ÷ reference price − 1.