TGM's two-stage DCF values Bill.com Holdings, Inc. (BILL) between $35.73 and $61.88 depending on assumptions, with a base case of $47.68. 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 (9.9%) reflects its beta.
What would today's price require?
$45.46 is justified only if free cash flow grows about +16.9% a year (fading to 2.5% long-run) at a 9.9% required return — slower than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 15.0%/yr | 10.9% | $35.73 |
| Base case | 18.0%/yr | 9.9% | $47.68 |
| Optimistic | 20.0%/yr | 8.9% | $61.88 |
| Third-party model estimate (FMP) | independent reference · retrieved Jul 27, 2026 · assumptions not provided | $87.31 | |
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
$45.46
Market-Implied Growth
+16.9%/yr
vs +51.3% 5Y actual
Model Scenario Range
$35.73 – $61.88
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 BILL (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 $207.2M · 0.10B shares · net debt $574.5M
Estimated Fair Value
$47.68
+4.9% vs $45.46
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 $45.46; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 7.9% | $59.01 | $63.72 | $69.29 | $76.00 | $84.22 |
| 8.9% | $49.54 | $52.90 | $56.78 | $61.31 | $66.68 |
| 9.9% | $42.36 | $44.85 | $47.68 | $50.92 | $54.65 |
| 10.9% | $36.73 | $38.64 | $40.78 | $43.18 | $45.91 |
| 11.9% | $32.20 | $33.71 | $35.37 | $37.21 | $39.27 |
