WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 29.50 | 0.8961 | 26.44 | 26.44 |
| 2 | 33.93 | 0.8031 | 27.25 | 53.68 |
| 3 | 39.02 | 0.7196 | 28.08 | 81.76 |
| 4 | 44.87 | 0.6449 | 28.94 | 110.70 |
| 5 | 51.60 | 0.5779 | 29.82 | 140.52 |
| 6 | 59.34 | 0.5179 | 30.73 | 171.25 |
| 7 | 68.24 | 0.4641 | 31.67 | 202.92 |
| 8 | 78.48 | 0.4159 | 32.64 | 235.56 |
| 9 | 90.25 | 0.3727 | 33.64 | 269.20 |
| 10 | 103.79 | 0.3340 | 34.66 | 303.86 |
| 11 | 106.38 | 0.2993 | 31.84 | 335.70 |
| 12 | 109.04 | 0.2682 | 29.25 | 364.94 |
| 13 | 111.77 | 0.2404 | 26.86 | 391.81 |
| 14 | 114.56 | 0.2154 | 24.67 | 416.48 |
| 15 | 117.42 | 0.1930 | 22.66 | 439.15 |
| 16 | 120.36 | 0.1730 | 20.82 | 459.97 |
| 17 | 123.37 | 0.1550 | 19.12 | 479.09 |
| 18 | 126.45 | 0.1389 | 17.56 | 496.65 |
| 19 | 129.61 | 0.1245 | 16.13 | 512.79 |
| 20 | 132.86 | 0.1115 | 14.82 | 527.61 |
REVERSE DCF
At $2200.00, the market implies a stage-1 growth rate of 36.8%.
MARKET IMPLIES
36.8%
YOUR ASSUMPTION
15.0%
DELTA
+21.8pp
If $2200.00 is correct and your other inputs (WACC 11.6%, 10+10y, terminal 2.5%) hold, the market needs 2330.TW to grow cash flow at 36.8% annually for the next 10 years.