CNXC
Concentrix Corporation
$33.41
Platform & Compounding FCF
85%
Two-stage FCF DCF
Strong
·
Conviction
Undervalued
Trading 59.9% below fair value
You pay
$33.41
Bear
$83.28
Fair
$83.28
Bull
$93.68
Bear
$83.28
+149.3%
3% stage 1 growth, 11% discount
Fair
$83.28
+149.3%
3% stage 1 growth, 11% discount
Bull
$93.68
+180.4%
4% stage 1 growth, 11% discount
Adjust Assumptions
3.0%
11.0%
3.0%
Key Value Driver
FCF growth rate (3% base case)
Terminal Value % of EV
33%
Implied Market Multiple
8.7x
Market is pricing in (growth)
-2.5%
vs 3.0% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (9 analysts)
$33.50
Divergence from AlphaVal
149%
Summary
Using a two-stage FCF DCF with 3% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $83.28 per share.
Warnings
Wall Street's average price target is $33.50 (from 9 analysts). Our estimate is 149% above the consensus -- consider that gap carefully.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions