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DCF valuation

What is Arcosa, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Arcosa, Inc.'s reported free cash flow gives $59.93 per share. The share price was $146.62 on September 25, 2026, 145% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$175.5M
Average free cash flow, last 5 years
$132.6M
Cash
$432.1M
balance sheet of June 30, 2026
Debt
$1.44B
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
49,000,000
Revenue growth per year, last 5 years
8.3%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear3.5%3.0%2.0%10.0%$29.60-80%
Base8.5%5.5%2.5%9.0%$59.93-59%
Bull13.5%8.5%3.0%8.0%$120.40-18%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$82.61$89.57$98.08$108.72$122.39
8.0%$65.66$70.17$75.51$81.91$89.74
9.0%$53.28$56.37$59.93$64.09$69.00
10.0%$43.87$46.06$48.55$51.39$54.67
11.0%$36.47$38.08$39.88$41.90$44.20

Where the presets come from

Base: years 1 to 5 grow at Arcosa, Inc.'s revenue growth rate over the last 5 fiscal years (8.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Arcosa, Inc. company page