Overview
Discounted cash flow
Income / accounting-based
Multiples & assets
Scenario
Toolbox
Weighted blend
$95.69
-9.40% vs spot
Underweight
Spot price
$105.62
Mkt cap $38.92B
subtle cardAnalyst PT consensus
$108.78
+2.99% vs spot
subtle cardMethods covered
17 / 18
7 in blend
subtle cardFootball field
ED · fair-value range by method
Method comparison
ED · fair value by valuation framework
| Method | Category | Fair value | Range | vs spot | Weight | Driver | Conf. |
|---|---|---|---|---|---|---|---|
| DCF · FCFF | dcf | -$64.99 | -$67.17 – -$58.83 | -161.53% | — | WACC 4.4%, g₀=6.6%, gₗ=2.3% | high |
| DDM · Gordon | ddm | $89.23 | $69.26 – $125.40 | -15.51% | 13.3% | D₁ 3.03, kₑ 5.7%, gₗ 2.3% | med |
| DDM · H-model | ddm | $108.08 | $73.73 – $170.27 | +2.33% | — | D₀ 3.03, g₀=6.6%, gₗ=2.3%, H 5y | med |
| DDM · multi-stage | ddm | $98.69 | $83.88 – $113.49 | -6.57% | 24.0% | 5y schedule 6.6% → 2.3%, kₑ 5.7% | high |
| Residual income | income | $66.57 | $58.58 – $74.55 | -36.98% | 13.3% | BV 62.76, ROE 8.4% → kₑ | high |
| EVA / MVA | income | $146.54 | $128.96 – $164.13 | +38.74% | 6.7% | IC 51.3B, WACC 4.4% | high |
| P/E · sector | multiple | $101.52 | $89.34 – $113.70 | -3.88% | 16.0% | EPS 5.64 × peer P/E 18.0 | med |
| P/S · sector | multiple | $96.57 | $82.09 – $111.06 | -8.57% | — | Rev/sh 43.90 × peer P/S 2.20 | med |
| EV / EBITDA | multiple | $105.18 | $92.56 – $117.80 | -0.42% | 20.0% | EBITDA × peer 11.0× − ND 27.1B | high |
| EV / EBIT | multiple | $30.01 | $25.51 – $34.51 | -71.59% | — | EBIT × peer 13.2× − ND | med |
| EV / Sales | multiple | $11.71 | $9.95 – $13.47 | -88.91% | — | Sales × peer 1.87× − ND | med |
| PEG-anchored | multiple | $46.23 | $39.30 – $53.16 | -56.23% | — | PEG=1, fwd EPS g 8.2% | med |
| Earnings power | intrinsic | $63.07 | $55.50 – $70.64 | -40.28% | — | NOPAT / WACC, no growth | med |
| Graham revised | intrinsic | $120.71 | $102.60 – $138.81 | +14.29% | — | EPS×(8.5+2g)·4.4/Y | low |
| Lynch P/E=g | intrinsic | $37.21 | $31.63 – $42.79 | -64.77% | — | PE = g (6.6) | low |
| Book NAV | asset | $62.76 | $59.63 – $65.90 | -40.58% | 6.7% | (Assets − Liabilities) / Shares | high |
| Liquidation | asset | $5.96 | $5.07 – $6.86 | -94.36% | — | Cash 100% + non-cash 70% − Liab. | low |
| Reverse DCF | reverse | — | — | — | — | Implied g 50.0% · Heroic — market needs ≥25% FCF growth | high |
Cost-of-capital build-up
CAPM cost of equity, after-tax cost of debt, WACC. Risk-free as of 2026-05-12.
| Risk-free rate (US 10y Treasury)rf | 4.46% |
| Equity beta (0.29)β | × 0.29 |
| Equity risk premiumERP | 4.46% |
| Cost of equity (CAPM)kₑ | 5.74% |
| Pre-tax cost of debtkd | 4.29% |
| Effective tax ratet | 22.1% |
| After-tax cost of debt | 3.34% |
| Equity weight$24.2B | 45.7% |
| Debt weight$28.8B | 54.3% |
| WACC | 4.44% |
Growth assumptions
Blended forward growth used as DCF default; terminal pegged to long-run nominal GDP.
| Analyst forward revenue growthFMP | 3.69% |
| Analyst forward EPS growthFMP | 8.20% |
| Historical 5y revenue CAGRFY | 5.47% |
| Historical 5y EPS CAGRFY | 10.02% |
| Sustainable g (ROE × retention)Δ | 3.54% |
| Blended near-term growth (g₀) | 6.60% |
| Terminal growth (gₗ) | 2.28% |
Sources
- FMP /analyst-estimates— 8 rows(as of 2023-12-31)
- Treasury rates · 10y— 4.46% rf(as of 2026-05-12)
- market_risk_premium · DB— 4.46% ERP(as of 2026-05-13)
- Sector multiple defaults— Utilities (live sector PE unavailable)
- FMP /price-target-consensus— mean $108.78
This page is generated by a quantitative valuation engine for research purposes only and does not constitute investment advice. Methodology follows standard CFA / Damodaran frameworks; assumptions are driven by analyst consensus from Financial Modeling Prep and reported financial statements.