WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 29.50 | 0.8965 | 26.45 | 26.45 |
| 2 | 33.93 | 0.8037 | 27.27 | 53.71 |
| 3 | 39.02 | 0.7205 | 28.11 | 81.82 |
| 4 | 44.87 | 0.6459 | 28.98 | 110.80 |
| 5 | 51.60 | 0.5790 | 29.88 | 140.68 |
| 6 | 59.34 | 0.5191 | 30.80 | 171.48 |
| 7 | 68.24 | 0.4653 | 31.75 | 203.24 |
| 8 | 78.48 | 0.4171 | 32.74 | 235.97 |
| 9 | 90.25 | 0.3740 | 33.75 | 269.72 |
| 10 | 103.79 | 0.3352 | 34.79 | 304.52 |
| 11 | 106.38 | 0.3005 | 31.97 | 336.49 |
| 12 | 109.04 | 0.2694 | 29.38 | 365.87 |
| 13 | 111.77 | 0.2415 | 27.00 | 392.86 |
| 14 | 114.56 | 0.2165 | 24.81 | 417.67 |
| 15 | 117.42 | 0.1941 | 22.79 | 440.46 |
| 16 | 120.36 | 0.1740 | 20.94 | 461.40 |
| 17 | 123.37 | 0.1560 | 19.25 | 480.65 |
| 18 | 126.45 | 0.1398 | 17.68 | 498.33 |
| 19 | 129.61 | 0.1254 | 16.25 | 514.58 |
| 20 | 132.86 | 0.1124 | 14.93 | 529.52 |
REVERSE DCF
At $2400.00, the market implies a stage-1 growth rate of 38.1%.
MARKET IMPLIES
38.1%
YOUR ASSUMPTION
15.0%
DELTA
+23.1pp
If $2400.00 is correct and your other inputs (WACC 11.5%, 10+10y, terminal 2.5%) hold, the market needs 2330.TW to grow cash flow at 38.1% annually for the next 10 years.