TGM's two-stage DCF values Expeditors International of Washington, Inc. (EXPD) between $105.67 and $174.54 depending on assumptions, with a base case of $133.90. Growth is taken from the company's own record (blend of 5-year revenue and FCF growth), fading to 2.5% long-run; the discount rate (9.4%) reflects its beta.
What would today's price require?
$193.61 is justified only if free cash flow grows about +14.8% a year (fading to 2.5% long-run) at a 9.4% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 2.0%/yr | 10.4% | $105.67 |
| Base case | 5.0%/yr | 9.4% | $133.90 |
| Optimistic | 8.0%/yr | 8.4% | $174.54 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 13, 2026 · assumptions not provided | $70.97 | |
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
$193.61
Market-Implied Growth
+14.8%/yr
vs +7.1% 5Y actual
Model Scenario Range
$105.67 – $174.54
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 EXPD (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 $983.6M · 0.13B shares · net cash $1.3B
Estimated Fair Value
$133.90
-30.8% vs $193.61
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 5.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $193.61; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.4% | $160 | $172 | $185 | $202 | $223 |
| 8.4% | $138 | $146 | $155 | $166 | $179 |
| 9.4% | $121 | $127 | $134 | $142 | $151 |
| 10.4% | $109 | $113 | $118 | $124 | $130 |
| 11.4% | $98.44 | $102 | $106 | $110 | $115 |