TGM's two-stage DCF values Primoris Services Corporation (PRIM) between $56.76 and $96.67 depending on assumptions, with a base case of $73.64. 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 (11.1%) reflects its beta.
What would today's price require?
$86.51 is justified only if free cash flow grows about +19.9% a year (fading to 2.5% long-run) at a 11.1% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 13.0%/yr | 12.1% | $56.76 |
| Base case | 16.0%/yr | 11.1% | $73.64 |
| Optimistic | 19.0%/yr | 10.1% | $96.67 |
| Third-party model estimate (FMP) | independent reference · retrieved Jul 26, 2026 · assumptions not provided | $87.69 | |
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
$86.51
Market-Implied Growth
+19.9%/yr
vs +6.6% 5Y actual
Model Scenario Range
$56.76 – $96.67
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 PRIM (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 $218.0M · 0.05B shares · net debt $409.6M
Estimated Fair Value
$73.64
-14.9% vs $86.51
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 16.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $86.51; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 9.1% | $88.44 | $94.02 | $100 | $108 | $117 |
| 10.1% | $76.35 | $80.53 | $85.26 | $90.64 | $96.83 |
| 11.1% | $66.82 | $70.04 | $73.64 | $77.67 | $82.22 |
| 12.1% | $59.12 | $61.67 | $64.47 | $67.58 | $71.05 |
| 13.1% | $52.78 | $54.83 | $57.07 | $59.52 | $62.23 |
