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DCF Valuation
Base-case fair value
$17.14
Intrinsic $22.86 · 25% MOS
Current price: $14.15
Base-case summary
Our base-case DCF for OneSpan Inc. (OSPN) projects 10 years of free cash flow growth at 2.0% for years 1–5 and 1.0% for years 6–10, anchored to 1.5% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $48M in trailing free cash flow, this produces an intrinsic value of $22.86 per share. A 25% safety margin gives a fair value of $17.14, suggesting the stock is currently 21% undervalued against the $14.15 market price.
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
$48M
Cash & equivalents
$50M
Total debt
$8M
Shares outstanding
38M