Cash flows and multiples
Explore DCF assumptions and valuation multiples separately. The valuation method can differ by company.
DISCOUNTED CASH FLOW
What are future cash flows worth today?
Select a company to explore its DCF valuation, assumptions and three scenarios.
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How DCF valuation works
A discounted cash flow model estimates future cash flows and discounts them to the present using a required rate of return. Forecasts, terminal value and the discount rate all influence the result.
Explore existing read-only models. Values are estimates, not guarantees or personalized investment advice.
Three scenarios, one perspective
Compare bear, base and bull cases. A valuation is a range of estimates, rather than a guaranteed price.
Read the financial statements
Inspect available financial history, profitability, cash flows and analyst views alongside the valuation.
How have valuations compared historically?
Explore the global backtestA closer look at the valuation
What does a DCF estimate tell me?
It expresses a stream of future cash flows as a value today. A cash flow expected several years from now is discounted because waiting and business risk have a cost. The result depends on the cash flow definition and assumptions used in that model.
How do cash flows become a value per share?
The model projects business performance, estimates the cash remaining for investors and discounts those amounts. A terminal value represents the years beyond the explicit forecast. Depending on the template, debt and other adjustments connect business value to equity value before the per-share calculation.
How precise is the result?
Small changes in growth, margins, discount rates or terminal assumptions can materially change the estimate. Read the bear, base and bull cases together and check whether their assumptions fit the business. Extra decimal places do not make a forecast more certain.
Does a DCF value above the price mean I should buy?
That difference indicates a discount under the selected assumptions. It does not identify a purchase date or guarantee a return. Read the financial statements, consider the risks and compare alternative scenarios before drawing a conclusion.
Can I change these assumptions in Sardis?
The current version displays the supplied models in read-only form. You can switch scenarios and inspect the forecast, but changing the display does not create or save a new valuation model.