TGM's two-stage DCF values Workiva Inc. (WK) between $32.44 and $68.31 depending on assumptions, with a base case of $47.47. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use) (capped at 18%)), fading to 2.5% long-run; the discount rate (7.5%) reflects its beta.
What would today's price require?
$71.11 is justified only if free cash flow grows about +26.9% a year (fading to 2.5% long-run) at a 7.5% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 8.5% | $32.44 |
| Base case | 18.0%/yr | 7.5% | $47.47 |
| Optimistic | 20.0%/yr | 6.5% | $68.31 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 2, 2026 · assumptions not provided | $23.27 | |
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
$71.11
Market-Implied Growth
+26.9%/yr
vs +19.8% 5Y actual
Model Scenario Range
$32.44 – $68.31
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 WK (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 $77.3M · 0.05B shares · net debt $445.4M
Estimated Fair Value
$47.47
-33.2% vs $71.11
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 $71.11; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.5% | $64.98 | $74.47 | $87.10 | $105 | $131 |
| 6.5% | $49.53 | $55.21 | $62.31 | $71.43 | $83.58 |
| 7.5% | $39.26 | $43.00 | $47.47 | $52.94 | $59.76 |
| 8.5% | $31.96 | $34.57 | $37.61 | $41.20 | $45.51 |
| 9.5% | $26.50 | $28.41 | $30.59 | $33.11 | $36.04 |
