IPAR
Inter Parfums, Inc.
$115.22
Platform & Compounding FCF
85%
Two-stage FCF DCF
Moderate
·
Conviction
Fair Value
Trading 16.2% below fair value
You pay
$115.22
Bear
$101.74
Fair
$137.42
Bull
$172.74
Bear
$101.74
-11.7%
6% stage 1 growth, 11% discount
Fair
$137.42
+19.3%
10% stage 1 growth, 11% discount
Bull
$172.74
+49.9%
13% stage 1 growth, 11% discount
Adjust Assumptions
10.3%
11.0%
3.0%
Key Value Driver
FCF growth rate (10% base case)
Terminal Value % of EV
39%
Implied Market Multiple
18.5x
Market is pricing in (growth)
7.9%
vs 10.3% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (21 analysts)
$136.50
Divergence from AlphaVal
1%
Summary
Using a two-stage FCF DCF with 10% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $137.42 per share.
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