TGM's two-stage DCF values IBEX Limited (IBEX) between $39.22 and $72.98 depending on assumptions, with a base case of $52.33. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use)), fading to 2.5% long-run; the discount rate (7.7%) reflects its beta.
What would today's price require?
$43.53 is justified only if free cash flow grows about +3.1% a year (fading to 2.5% long-run) at a 7.7% required return — slower than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 4.7%/yr | 8.7% | $39.22 |
| Base case | 7.7%/yr | 7.7% | $52.33 |
| Optimistic | 10.7%/yr | 6.7% | $72.98 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 6, 2026 · assumptions not provided | $38.04 | |
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
$43.53
Market-Implied Growth
+3.1%/yr
vs +7.7% 5Y actual
Model Scenario Range
$39.22 – $72.98
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 IBEX (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 $27.2M · 0.01B shares · net cash $32.6M
Estimated Fair Value
$52.33
+20.2% vs $43.53
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 7.7%/yr FCF growth and 10-year horizon fixed. Green = above today's $43.53; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.7% | $66.75 | $74.36 | $84.33 | $97.99 | $118 |
| 6.7% | $54.08 | $58.74 | $64.51 | $71.84 | $81.44 |
| 7.7% | $45.51 | $48.62 | $52.33 | $56.82 | $62.38 |
| 8.7% | $39.32 | $41.53 | $44.09 | $47.09 | $50.66 |
| 9.7% | $34.66 | $36.29 | $38.14 | $40.27 | $42.73 |
