WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 1.40 | 0.8563 | 1.20 | 1.20 |
| 2 | 1.43 | 0.7333 | 1.05 | 2.25 |
| 3 | 1.46 | 0.6279 | 0.92 | 3.16 |
| 4 | 1.49 | 0.5377 | 0.80 | 3.96 |
| 5 | 1.52 | 0.4604 | 0.70 | 4.66 |
| 6 | 1.55 | 0.3943 | 0.61 | 5.27 |
| 7 | 1.58 | 0.3376 | 0.53 | 5.81 |
| 8 | 1.61 | 0.2891 | 0.47 | 6.27 |
| 9 | 1.64 | 0.2476 | 0.41 | 6.68 |
| 10 | 1.68 | 0.2120 | 0.36 | 7.03 |
| 11 | 1.72 | 0.1816 | 0.31 | 7.35 |
| 12 | 1.76 | 0.1555 | 0.27 | 7.62 |
| 13 | 1.80 | 0.1331 | 0.24 | 7.86 |
| 14 | 1.85 | 0.1140 | 0.21 | 8.07 |
| 15 | 1.90 | 0.0976 | 0.19 | 8.25 |
| 16 | 1.94 | 0.0836 | 0.16 | 8.42 |
| 17 | 1.99 | 0.0716 | 0.14 | 8.56 |
| 18 | 2.04 | 0.0613 | 0.13 | 8.68 |
| 19 | 2.09 | 0.0525 | 0.11 | 8.79 |
| 20 | 2.14 | 0.0449 | 0.10 | 8.89 |
REVERSE DCF
At $365.44, 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.