TGM's two-stage DCF values Kenvue Inc. (KVUE) between $11.94 and $24.95 depending on assumptions, with a base case of $16.34. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use) (floored at 2%)), fading to 2.5% long-run; the discount rate (7.5%) reflects its beta.
What would today's price require?
$19.23 is justified only if free cash flow grows about +5.1% a year (fading to 2.5% long-run) at a 7.5% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 0.5%/yr | 8.5% | $11.94 |
| Base case | 2.0%/yr | 7.5% | $16.34 |
| Optimistic | 5.0%/yr | 6.5% | $24.95 |
| Third-party model estimate (FMP) | independent reference · retrieved Aug 9, 2026 · assumptions not provided | $32.56 | |
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
$19.23
Market-Implied Growth
+5.1%/yr
vs +0.9% 5Y actual
Model Scenario Range
$11.94 – $24.95
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 KVUE (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 $1.9B · 1.92B shares · net debt $7.5B
Estimated Fair Value
$16.34
-15.0% vs $19.23
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 $19.23; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.5% | $22.28 | $25.50 | $29.79 | $35.80 | $44.81 |
| 6.5% | $17.03 | $18.97 | $21.39 | $24.49 | $28.63 |
| 7.5% | $13.54 | $14.81 | $16.34 | $18.21 | $20.54 |
| 8.5% | $11.04 | $11.94 | $12.98 | $14.21 | $15.68 |
| 9.5% | $9.17 | $9.83 | $10.58 | $11.44 | $12.45 |
