WACC
PREDICTABILITY
GROWTH WINDOWS
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
| Year | CF | Discount factor | PV | Cumulative PV |
|---|---|---|---|---|
| 1 | 1.40 | 0.8534 | 1.20 | 1.20 |
| 2 | 1.43 | 0.7283 | 1.04 | 2.24 |
| 3 | 1.46 | 0.6215 | 0.91 | 3.14 |
| 4 | 1.49 | 0.5304 | 0.79 | 3.93 |
| 5 | 1.52 | 0.4526 | 0.69 | 4.62 |
| 6 | 1.55 | 0.3863 | 0.60 | 5.21 |
| 7 | 1.58 | 0.3296 | 0.52 | 5.73 |
| 8 | 1.61 | 0.2813 | 0.45 | 6.19 |
| 9 | 1.64 | 0.2401 | 0.39 | 6.58 |
| 10 | 1.67 | 0.2049 | 0.34 | 6.92 |
| 11 | 1.72 | 0.1748 | 0.30 | 7.22 |
| 12 | 1.76 | 0.1492 | 0.26 | 7.48 |
| 13 | 1.80 | 0.1273 | 0.23 | 7.71 |
| 14 | 1.85 | 0.1087 | 0.20 | 7.91 |
| 15 | 1.89 | 0.0927 | 0.18 | 8.09 |
| 16 | 1.94 | 0.0791 | 0.15 | 8.24 |
| 17 | 1.99 | 0.0675 | 0.13 | 8.38 |
| 18 | 2.04 | 0.0576 | 0.12 | 8.50 |
| 19 | 2.09 | 0.0492 | 0.10 | 8.60 |
| 20 | 2.14 | 0.0420 | 0.09 | 8.69 |
REVERSE DCF
At $405.62, 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.