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DCF Valuation
Base-case fair value
$167.04
Intrinsic $222.72 · 25% MOS
Current price: $100.77
Base-case summary
Our base-case DCF for Tradeweb Markets Inc. (TW) projects 10 years of free cash flow growth at 15.7% for years 1–5 and 7.9% for years 6–10, anchored to 15.7% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $1.2B in trailing free cash flow, this produces an intrinsic value of $222.72 per share. A 25% safety margin gives a fair value of $167.04, suggesting the stock is currently 66% undervalued against the $100.77 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
$1.2B
Cash & equivalents
$1.9B
Total debt
$143M
Shares outstanding
213M