Terminal Value
Terminal value represents the present value of all future cash flows beyond the explicit forecast period in a DCF model. It captures the ongoing value of a business assumed to continue operating indefinitely.
Formule
Exemple
If the final year FCF is $20M, the perpetuity growth rate is 2.5%, and WACC is 10%, the terminal value = $20M × 1.025 / (0.10 - 0.025) = $273.3M.
Pourquoi C'est Important
Terminal value typically accounts for 60-80% of total DCF value, making it the most influential component. Choosing between perpetuity growth and exit multiple methods can lead to significantly different stock valuations.
Comment MiniValuator Utilise Terminal Value
MiniValuator supports both perpetuity growth and exit multiple terminal value methods. Users can switch between them and see how the choice affects the final intrinsic value estimate.
En Pratique
- Comment le modèle DCF calcule la valeur intrinsèque
- Analyse de la valeur intrinsèque du secteur Consumer Cyclical
- Analyse de la valeur intrinsèque du secteur Industrials
Termes Connexes
- Discounted Cash Flow (DCF) — Discounted Cash Flow (DCF) is a fundamental stock valuation methodology that estimates the present v...
- Weighted Average Cost of Capital (WACC) — WACC is the blended rate of return that a company must earn on its invested capital to satisfy all o...
- Exit Multiple — An exit multiple is a stock valuation ratio (such as EV/EBITDA or EV/FCF) applied to a financial met...
- Perpetuity Growth Rate — The perpetuity growth rate (also called the terminal growth rate) is the constant rate at which a co...
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