A 5-year unlevered free cash flow forecast, discounted at WACC with a Gordon Growth terminal value, producing an implied enterprise and equity value.
Free cash flow build & value bridge
Unlevered FCF grows from the Year-1 base as margins expand; PV of terminal value makes up the majority of enterprise value, typical for a 5-year explicit forecast.
Sensitivity — implied share price
WACC (rows) vs. terminal growth rate (columns). Highlighted cell is the base case.