TGM's two-stage DCF values Five9, Inc. (FIVN) between $11.80 and $22.31 depending on assumptions, with a base case of $16.75. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use) (capped at 18%)), fading to 2.5% long-run; the discount rate (11.4%) reflects its beta.
What would today's price require?
$34.24 is justified only if free cash flow grows about +32.8% a year (fading to 2.5% long-run) at a 11.4% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 12.4% | $11.80 |
| Base case | 18.0%/yr | 11.4% | $16.75 |
| Optimistic | 20.0%/yr | 10.4% | $22.31 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 2, 2026 · assumptions not provided | $33.21 | |
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
$34.24
Market-Implied Growth
+32.8%/yr
vs +18.2% 5Y actual
Model Scenario Range
$11.80 – $22.31
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 FIVN (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 $88.1M · 0.08B shares · net debt $566.9M
Estimated Fair Value
$16.75
-51.1% vs $34.24
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 $34.24; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 9.4% | $21.06 | $22.66 | $24.48 | $26.58 | $29.04 |
| 10.4% | $17.56 | $18.76 | $20.12 | $21.65 | $23.41 |
| 11.4% | $14.78 | $15.71 | $16.75 | $17.91 | $19.22 |
| 12.4% | $12.52 | $13.26 | $14.07 | $14.98 | $15.98 |
| 13.4% | $10.65 | $11.25 | $11.90 | $12.62 | $13.40 |
