NYT
The New York Times Company
$65.64
Platform & Compounding FCF
75%
Two-stage FCF DCF
Mild
·
Conviction
Overvalued
Trading 0.8% above fair value
You pay
$65.64
Bear
$50.64
Fair
$65.13
Bull
$79.01
Bear
$50.64
-22.8%
5% stage 1 growth, 11% discount
Fair
$65.13
-0.8%
9% stage 1 growth, 11% discount
Bull
$79.01
+20.4%
12% stage 1 growth, 11% discount
Adjust Assumptions
9.1%
11.0%
3.0%
Key Value Driver
FCF growth rate (9% base case)
Terminal Value % of EV
38%
Implied Market Multiple
20.3x
Market is pricing in (growth)
9.2%
vs 9.1% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (17 analysts)
$83.00
Divergence from AlphaVal
22%
Summary
Using a two-stage FCF DCF with 9% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $65.13 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