Why we don't show a single “fair value” for TER
Even the optimistic scenario of a conservative trailing-FCF model ($47.74) sits far below today's price — the market is paying for growth and durability beyond what this model structure captures. Off today's cash-flow base, no plausible growth rate bridges to the current price — the market is valuing normalized future cash flows, not the depressed base. The model scenarios below are shown for reference only.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 3.6%/yr | 12.5% | $30.03 |
| Base case | 6.6%/yr | 11.5% | $37.56 |
| Optimistic | 9.6%/yr | 10.5% | $47.74 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 8, 2026 · assumptions not provided | $45.43 | |
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
$372.06
Market-Implied Growth
N/A
Base-Case Model Value
$37.56
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 TER (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 $438.0M · 0.16B shares · net cash $10.5M
Estimated Fair Value
$37.56
-89.9% vs $372.06
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 6.6%/yr FCF growth and 10-year horizon fixed. Green = above today's $372.06; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 9.5% | $43.75 | $46.02 | $48.60 | $51.58 | $55.05 |
| 10.5% | $38.74 | $40.46 | $42.39 | $44.58 | $47.07 |
| 11.5% | $34.74 | $36.08 | $37.56 | $39.22 | $41.09 |
| 12.5% | $31.47 | $32.54 | $33.71 | $35.00 | $36.44 |
| 13.5% | $28.75 | $29.61 | $30.56 | $31.59 | $32.73 |
