Discounted cash flow

Two-stage DCF: explicit growth phase plus terminal value via Gordon growth.

Starting free cash flow ($)

High-growth rate: 8%High-growth years: 10Terminal growth: 2.5%Discount rate: 9%Diluted shares outstanding (optional)

Intrinsic value (enterprise)

$23.89B

Add shares outstanding to see per-share value.

Bear

$20.43B

r=10.0%

Base

$23.89B

r=9.0%

Bull

$28.64B

r=8.0%

Sensitivity shows ±1pp on the discount rate, holding all else equal. Real DCFs should also stress growth, terminal multiple, and reinvestment.

Formula

Year-t cash flow: FCF_t = FCF₀ × (1+g₁)^t. Terminal value: TV = FCF_n(1+g₂) / (r − g₂). Intrinsic value: V = Σ FCF_t/(1+r)^t + TV/(1+r)ⁿ.

Illustrative only. Calculator outputs assume constant inputs and ignore taxes, fees, inflation, and market volatility unless stated. For research and educational purposes only — not financial advice.