TGM's two-stage DCF values AudioCodes Ltd. (AUDC) between $5.22 and $8.40 depending on assumptions, with a base case of $6.33. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use) (floored at 2%)), fading to 2.5% long-run; the discount rate (9%) reflects its beta.
What would today's price require?
$10.84 is justified only if free cash flow grows about +15.7% a year (fading to 2.5% long-run) at a 9% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 0.5%/yr | 10.0% | $5.22 |
| Base case | 2.0%/yr | 9.0% | $6.33 |
| Optimistic | 5.0%/yr | 8.0% | $8.40 |
| Third-party model estimate (FMP) | independent reference · retrieved Oct 6, 2026 · assumptions not provided | $6.21 | |
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
$10.84
Market-Implied Growth
+15.7%/yr
vs +1.2% 5Y actual
Model Scenario Range
$5.22 – $8.40
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 AUDC (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 $9.9M · 0.03B shares · net cash $7.5M
Estimated Fair Value
$6.33
-41.6% vs $10.84
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 $10.84; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.0% | $7.67 | $8.27 | $9.01 | $9.93 | $11.11 |
| 8.0% | $6.53 | $6.94 | $7.43 | $8.01 | $8.72 |
| 9.0% | $5.70 | $5.99 | $6.33 | $6.73 | $7.20 |
| 10.0% | $5.06 | $5.28 | $5.53 | $5.82 | $6.14 |
| 11.0% | $4.56 | $4.73 | $4.92 | $5.13 | $5.37 |