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DCF Valuation
Base-case fair value
$6.30
Intrinsic $8.40 · 25% MOS
Base-case summary
Our base-case DCF for On24 Inc. (ONTF) projects 10 years of free cash flow growth at 19.5% for years 1–5 and 9.8% for years 6–10, anchored to 19.5% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $4M in trailing free cash flow, this produces an intrinsic value of $8.40 per share. A 25% safety margin gives a fair value of $6.30.
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
$4M
Cash & equivalents
$168M
Total debt
$6M
Shares outstanding
42M