| Year | Revenue | Y/Y | Op. income | Op. margin | Adj. FCF | FCF margin | PV of FCF |
|---|---|---|---|---|---|---|---|
| Y1 | £3.61bn | 3.5% | £487m | 13.5% | £307m | 8.5% | £282m |
| Y2 | £3.74bn | 3.5% | £504m | 13.5% | £318m | 8.5% | £267m |
| Y3 | £3.87bn | 3.5% | £522m | 13.5% | £329m | 8.5% | £254m |
| Y4 | £4.00bn | 3.5% | £540m | 13.5% | £340m | 8.5% | £241m |
| Y5 | £4.14bn | 3.5% | £559m | 13.5% | £352m | 8.5% | £229m |
We grow revenue at your rate for five years, apply your operating and FCF margins, discount the free cash flow, and cap it with an exit EV/EBIT multiple on year-5 operating income — then subtract net debt. Defaults use the trailing 5-year rates.
New to this? Learn the mechanics with our DCF calculator and what intrinsic value means.
Educational estimate only — not financial advice or a price target. Intrinsic value is a range, highly sensitive to the assumptions above; sector multiples are typical reference levels, not live peer data. Always do your own research.