TGM's two-stage DCF values TORM plc (TRMD) between $66.47 and $132.37 depending on assumptions, with a base case of $94.08. Growth is taken from the company's own record (5-year revenue CAGR (capped at 18%)), fading to 2.5% long-run; the discount rate (7.5%) reflects its beta.
What would today's price require?
$39.05 is justified only if free cash flow grows about -0.4% a year (fading to 2.5% long-run) at a 7.5% required return — slower than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 8.5% | $66.47 |
| Base case | 18.0%/yr | 7.5% | $94.08 |
| Optimistic | 20.0%/yr | 6.5% | $132.37 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 6, 2026 · assumptions not provided | $88.45 | |
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
$39.05
Market-Implied Growth
-0.4%/yr
vs +26.4% 5Y actual
Model Scenario Range
$66.47 – $132.37
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 TRMD (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 $267.3M · 0.10B shares · net debt $837.8M
Estimated Fair Value
$94.08
+140.9% vs $39.05
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 $39.05; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.5% | $126 | $144 | $167 | $199 | $248 |
| 6.5% | $97.86 | $108 | $121 | $138 | $160 |
| 7.5% | $79.00 | $85.86 | $94.08 | $104 | $117 |
| 8.5% | $65.57 | $70.37 | $75.96 | $82.57 | $90.48 |
| 9.5% | $55.55 | $59.06 | $63.07 | $67.69 | $73.07 |
