TGM's two-stage DCF values Primoris Services Corporation (PRIM) between $54.18 and $91.82 depending on assumptions, with a base case of $70.14. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use)), fading to 2.5% long-run; the discount rate (11.3%) reflects its beta.
What would today's price require?
$75.09 is justified only if free cash flow grows about +17.1% a year (fading to 2.5% long-run) at a 11.3% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 12.5%/yr | 12.3% | $54.18 |
| Base case | 15.5%/yr | 11.3% | $70.14 |
| Optimistic | 18.5%/yr | 10.3% | $91.82 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 9, 2026 · assumptions not provided | $87.28 | |
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
$75.09
Market-Implied Growth
+17.1%/yr
vs +6.6% 5Y actual
Model Scenario Range
$54.18 – $91.82
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 PRIM (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 $218.0M · 0.05B shares · net debt $409.6M
Estimated Fair Value
$70.14
-6.6% vs $75.09
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 15.5%/yr FCF growth and 10-year horizon fixed. Green = above today's $75.09; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 9.3% | $83.97 | $89.11 | $95.01 | $102 | $110 |
| 10.3% | $72.72 | $76.59 | $80.96 | $85.91 | $91.59 |
| 11.3% | $63.80 | $66.80 | $70.14 | $73.88 | $78.08 |
| 12.3% | $56.56 | $58.94 | $61.56 | $64.46 | $67.68 |
| 13.3% | $50.58 | $52.50 | $54.60 | $56.90 | $59.43 |
