TGM's two-stage DCF values Radware Ltd. (RDWR) between $12.71 and $19.95 depending on assumptions, with a base case of $15.23. Growth is taken from the company's own record (blend of 5-year revenue and FCF growth (floored at 2%)), fading to 2.5% long-run; the discount rate (8.4%) reflects its beta.
What would today's price require?
$30.64 is justified only if free cash flow grows about +21.4% a year (fading to 2.5% long-run) at a 8.4% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 0.5%/yr | 9.4% | $12.71 |
| Base case | 2.0%/yr | 8.4% | $15.23 |
| Optimistic | 5.0%/yr | 7.4% | $19.95 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 6, 2026 · assumptions not provided | $6.36 | |
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
$30.64
Market-Implied Growth
+21.4%/yr
vs -4.2% 5Y actual
Model Scenario Range
$12.71 – $19.95
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 RDWR (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 $32.4M · 0.04B shares · net cash $105.1M
Estimated Fair Value
$15.23
-50.3% vs $30.64
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 $30.64; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 6.4% | $18.36 | $19.87 | $21.77 | $24.22 | $27.52 |
| 7.4% | $15.65 | $16.64 | $17.83 | $19.29 | $21.11 |
| 8.4% | $13.73 | $14.42 | $15.23 | $16.18 | $17.33 |
| 9.4% | $12.30 | $12.80 | $13.38 | $14.04 | $14.82 |
| 10.4% | $11.18 | $11.57 | $12.00 | $12.48 | $13.04 |
