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DCF valuation

What is AstroNova, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on AstroNova, Inc.'s reported free cash flow gives $26.13 per share. The share price was $28.99 on August 26, 2026, 11% above that value.

Inputs from the filings

Free cash flow, fiscal 2026
$11.4M
Average free cash flow, last 5 years
$4.6M
Cash
$4.7M
balance sheet of April 30, 2026
Debt
$20.5M
balance sheet of April 30, 2026
Diluted shares, fiscal 2026
7,614,000
Revenue growth per year, last 5 years
5.3%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear0.5%1.5%2.0%10.0%$15.58-46%
Base5.5%4.0%2.5%9.0%$26.13-10%
Bull10.5%7.0%3.0%8.0%$47.14+63%

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%$33.86$36.22$39.10$42.70$47.32
8.0%$28.09$29.62$31.43$33.59$36.24
9.0%$23.88$24.92$26.13$27.53$29.19
10.0%$20.66$21.40$22.24$23.21$24.32
11.0%$18.13$18.67$19.28$19.97$20.74

Where the presets come from

Base: years 1 to 5 grow at AstroNova, Inc.'s revenue growth rate over the last 5 fiscal years (5.3% 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

AstroNova, Inc. company page