WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 2.24 | 0.8347 | 1.87 | 1.87 |
| 2 | 2.57 | 0.6967 | 1.79 | 3.66 |
| 3 | 2.96 | 0.5816 | 1.72 | 5.38 |
| 4 | 3.40 | 0.4855 | 1.65 | 7.03 |
| 5 | 3.91 | 0.4052 | 1.58 | 8.61 |
| 6 | 4.50 | 0.3382 | 1.52 | 10.13 |
| 7 | 5.17 | 0.2823 | 1.46 | 11.59 |
| 8 | 5.95 | 0.2357 | 1.40 | 13.00 |
| 9 | 6.84 | 0.1967 | 1.35 | 14.34 |
| 10 | 7.87 | 0.1642 | 1.29 | 15.63 |
| 11 | 8.06 | 0.1371 | 1.10 | 16.74 |
| 12 | 8.26 | 0.1144 | 0.95 | 17.68 |
| 13 | 8.47 | 0.0955 | 0.81 | 18.49 |
| 14 | 8.68 | 0.0797 | 0.69 | 19.18 |
| 15 | 8.90 | 0.0665 | 0.59 | 19.78 |
| 16 | 9.12 | 0.0555 | 0.51 | 20.28 |
| 17 | 9.35 | 0.0464 | 0.43 | 20.72 |
| 18 | 9.58 | 0.0387 | 0.37 | 21.09 |
| 19 | 9.82 | 0.0323 | 0.32 | 21.40 |
| 20 | 10.07 | 0.0270 | 0.27 | 21.68 |
REVERSE DCF
At $197.01, 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.