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DCF Valuation
Base-case fair value
$179.38
Intrinsic $239.17 · 25% MOS
Current price: $163.81
Base-case summary
Our base-case DCF for Tjx Companies Inc (TJX) projects 10 years of free cash flow growth at 20.0% for years 1–5 and 10.0% for years 6–10, anchored to 22.2% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $5.5B in trailing free cash flow, this produces an intrinsic value of $239.17 per share. A 25% safety margin gives a fair value of $179.38, suggesting the stock is currently 10% undervalued against the $163.81 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
$5.5B
Cash & equivalents
$5.6B
Total debt
$14.2B
Shares outstanding
1.1B