IPAR
Inter Parfums, Inc.
$111.66
Platform & Compounding FCF
85%
Two-stage FCF DCF
Moderate
·
Conviction
Fair Value
Trading 20.8% below fair value
You pay
$111.66
Bear
$103.30
Fair
$141.03
Bull
$178.72
Bear
$103.30
-7.5%
6% stage 1 growth, 11% discount
Fair
$141.03
+26.3%
11% stage 1 growth, 11% discount
Bull
$178.72
+60.1%
14% stage 1 growth, 11% discount
Adjust Assumptions
10.7%
11.0%
3.0%
Key Value Driver
FCF growth rate (11% base case)
Terminal Value % of EV
39%
Implied Market Multiple
17.9x
Market is pricing in (growth)
7.5%
vs 10.7% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (21 analysts)
$136.50
Divergence from AlphaVal
3%
Summary
Using a two-stage FCF DCF with 11% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $141.03 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