TGM's two-stage DCF values PPG Industries, Inc. (PPG) between $26.96 and $58.49 depending on assumptions, with a base case of $38.07. 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 (9.3%) reflects its beta.
What would today's price require?
$110.52 is justified only if free cash flow grows about +21.3% a year (fading to 2.5% long-run) at a 9.3% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 0.5%/yr | 10.3% | $26.96 |
| Base case | 2.0%/yr | 9.3% | $38.07 |
| Optimistic | 5.0%/yr | 8.3% | $58.49 |
| Third-party model estimate (FMP) | independent reference · retrieved Aug 2, 2026 · assumptions not provided | $143.08 | |
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
$110.52
Market-Implied Growth
+21.3%/yr
vs -7.1% 5Y actual
Model Scenario Range
$26.96 – $58.49
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 PPG (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 $931.0M · 0.22B shares · net debt $5.3B
Estimated Fair Value
$38.07
-65.6% vs $110.52
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 $110.52; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.3% | $51.11 | $56.83 | $63.75 | $72.25 | $82.99 |
| 8.3% | $40.07 | $44.04 | $48.69 | $54.21 | $60.88 |
| 9.3% | $31.86 | $34.75 | $38.07 | $41.90 | $46.39 |
| 10.3% | $25.52 | $27.70 | $30.16 | $32.95 | $36.15 |
| 11.3% | $20.47 | $22.17 | $24.05 | $26.16 | $28.54 |
