WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 1.32 | 0.8627 | 1.14 | 1.14 |
| 2 | 1.35 | 0.7443 | 1.00 | 2.14 |
| 3 | 1.37 | 0.6421 | 0.88 | 3.03 |
| 4 | 1.40 | 0.5540 | 0.78 | 3.80 |
| 5 | 1.43 | 0.4779 | 0.68 | 4.49 |
| 6 | 1.46 | 0.4123 | 0.60 | 5.09 |
| 7 | 1.49 | 0.3557 | 0.53 | 5.62 |
| 8 | 1.52 | 0.3069 | 0.47 | 6.08 |
| 9 | 1.55 | 0.2648 | 0.41 | 6.49 |
| 10 | 1.58 | 0.2284 | 0.36 | 6.85 |
| 11 | 1.62 | 0.1971 | 0.32 | 7.17 |
| 12 | 1.66 | 0.1700 | 0.28 | 7.46 |
| 13 | 1.70 | 0.1467 | 0.25 | 7.70 |
| 14 | 1.74 | 0.1265 | 0.22 | 7.93 |
| 15 | 1.79 | 0.1092 | 0.20 | 8.12 |
| 16 | 1.83 | 0.0942 | 0.17 | 8.29 |
| 17 | 1.88 | 0.0813 | 0.15 | 8.45 |
| 18 | 1.92 | 0.0701 | 0.13 | 8.58 |
| 19 | 1.97 | 0.0605 | 0.12 | 8.70 |
| 20 | 2.02 | 0.0522 | 0.11 | 8.80 |
REVERSE DCF
At $256.78, no stage-1 growth rate in [-20%, +50%] produces this price. The market implies growth > 50% — likely a pricing signal (acquisition, bubble, short-term news) rather than a DCF-defensible level.