TGM's two-stage DCF values CDW Corporation (CDW) between $74.50 and $151.77 depending on assumptions, with a base case of $101.56. Growth is taken from the company's own record (blend of 5-year revenue and FCF growth (floored at 2%)), fading to 2.5% long-run; the discount rate (8.9%) reflects its beta.
What would today's price require?
$136.67 is justified only if free cash flow grows about +7.2% a year (fading to 2.5% long-run) at a 8.9% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 0.5%/yr | 9.9% | $74.50 |
| Base case | 2.0%/yr | 8.9% | $101.56 |
| Optimistic | 5.0%/yr | 7.9% | $151.77 |
| Third-party model estimate (FMP) | independent reference · retrieved Aug 13, 2026 · assumptions not provided | $164.57 | |
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
$136.67
Market-Implied Growth
+7.2%/yr
vs -1.2% 5Y actual
Model Scenario Range
$74.50 – $151.77
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 CDW (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 $1.2B · 0.13B shares · net debt $5.6B
Estimated Fair Value
$101.56
-25.7% vs $136.67
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 2.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $136.67; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 6.9% | $134 | $149 | $167 | $190 | $220 |
| 7.9% | $106 | $116 | $128 | $143 | $160 |
| 8.9% | $86.01 | $93.23 | $102 | $111 | $123 |
| 9.9% | $70.54 | $75.92 | $82.01 | $88.98 | $97.02 |
| 10.9% | $58.37 | $62.51 | $67.12 | $72.31 | $78.19 |
