TGM's two-stage DCF values Procore Technologies, Inc. (PCOR) between $22.96 and $39.25 depending on assumptions, with a base case of $29.92. 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 (7.9%) reflects its beta.
What would today's price require?
$50.95 is justified only if free cash flow grows about +32.9% a year (fading to 2.5% long-run) at a 7.9% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 8.9% | $22.96 |
| Base case | 18.0%/yr | 7.9% | $29.92 |
| Optimistic | 20.0%/yr | 6.9% | $39.25 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 4, 2026 · assumptions not provided | $57.85 | |
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
$50.95
Market-Implied Growth
+32.9%/yr
vs +26.0% 5Y actual
Model Scenario Range
$22.96 – $39.25
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 PCOR (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 $112.0M · 0.15B shares · net cash $473.9M
Estimated Fair Value
$29.92
-41.3% vs $50.95
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 $50.95; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.9% | $37.69 | $41.67 | $46.82 | $53.74 | $63.53 |
| 6.9% | $30.90 | $33.39 | $36.44 | $40.27 | $45.22 |
| 7.9% | $26.25 | $27.93 | $29.92 | $32.32 | $35.25 |
| 8.9% | $22.88 | $24.07 | $25.46 | $27.07 | $28.99 |
| 9.9% | $20.31 | $21.20 | $22.21 | $23.37 | $24.70 |
