Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
DCF Valuation
Base-case fair value
£163.92
Intrinsic £218.56 · 25% MOS
Base-case summary
Our base-case DCF for Next plc (NXT.XLON) projects 10 years of free cash flow growth at 8.5% for years 1–5 and 4.3% for years 6–10, anchored to 8.5% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from £1.1B in trailing free cash flow, this produces an intrinsic value of £218.56 per share. A 25% safety margin gives a fair value of £163.92.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
£1.1B
Cash & equivalents
£96M
Total debt
£1.8B
Shares outstanding
117M