TGM's two-stage DCF values Bill.com Holdings, Inc. (BILL) between $51.68 and $91.15 depending on assumptions, with a base case of $69.53. Growth is taken from the company's own record (5-year revenue CAGR (capped at 18%)), fading to 2.5% long-run; the discount rate (9.5%) reflects its beta.
What would today's price require?
$47.04 is justified only if free cash flow grows about +9.4% a year (fading to 2.5% long-run) at a 9.5% required return — slower than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 10.5% | $51.68 |
| Base case | 18.0%/yr | 9.5% | $69.53 |
| Optimistic | 20.0%/yr | 8.5% | $91.15 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 8, 2026 · assumptions not provided | $99.52 | |
The FMP figure is a third-party point estimate. Its cash-flow forecast, discount rate, terminal growth, and valuation date are not included in the stored response, so TGMCharts presents it only as a reference—not as an intrinsic-value conclusion or price target.
Current Price
$47.04
Market-Implied Growth
+9.4%/yr
vs +47.3% 5Y actual
Model Scenario Range
$51.68 – $91.15
model output — not a price target
Edit the assumptions to see how they change the estimated fair value. Opens seeded with TGM's data-driven base case for BILL (growth from its own 5-year record, discount from its beta), so the sandbox starts where the scenarios above leave off. Illustrative model — not investment advice.
Base inputs: FCF $283.8M · 0.10B shares · net debt $818.0M
Estimated Fair Value
$69.53
+47.8% vs $47.04
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 18.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $47.04; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.5% | $86.91 | $94.40 | $103 | $114 | $128 |
| 8.5% | $72.26 | $77.50 | $83.60 | $90.81 | $99.44 |
| 9.5% | $61.33 | $65.16 | $69.53 | $74.57 | $80.45 |
| 10.5% | $52.86 | $55.76 | $59.02 | $62.71 | $66.93 |
| 11.5% | $46.11 | $48.37 | $50.88 | $53.68 | $56.82 |
