WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 29.50 | 0.8959 | 26.43 | 26.43 |
| 2 | 33.93 | 0.8027 | 27.23 | 53.67 |
| 3 | 39.02 | 0.7192 | 28.06 | 81.73 |
| 4 | 44.87 | 0.6443 | 28.91 | 110.64 |
| 5 | 51.60 | 0.5773 | 29.79 | 140.43 |
| 6 | 59.34 | 0.5172 | 30.69 | 171.12 |
| 7 | 68.24 | 0.4634 | 31.62 | 202.74 |
| 8 | 78.48 | 0.4152 | 32.58 | 235.32 |
| 9 | 90.25 | 0.3720 | 33.57 | 268.89 |
| 10 | 103.79 | 0.3333 | 34.59 | 303.48 |
| 11 | 106.38 | 0.2986 | 31.76 | 335.25 |
| 12 | 109.04 | 0.2675 | 29.17 | 364.42 |
| 13 | 111.77 | 0.2397 | 26.79 | 391.21 |
| 14 | 114.56 | 0.2147 | 24.60 | 415.81 |
| 15 | 117.42 | 0.1924 | 22.59 | 438.40 |
| 16 | 120.36 | 0.1724 | 20.75 | 459.15 |
| 17 | 123.37 | 0.1544 | 19.05 | 478.20 |
| 18 | 126.45 | 0.1384 | 17.50 | 495.70 |
| 19 | 129.61 | 0.1240 | 16.07 | 511.76 |
| 20 | 132.86 | 0.1111 | 14.76 | 526.52 |
REVERSE DCF
At $2365.00, the market implies a stage-1 growth rate of 38.0%.
MARKET IMPLIES
38.0%
YOUR ASSUMPTION
15.0%
DELTA
+23.0pp
If $2365.00 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 38.0% annually for the next 10 years.