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DCF valuation

What is Benchmark Electronics Inc worth?

With the base-case assumptions below, a discounted cash flow model on Benchmark Electronics Inc's reported free cash flow gives $48.51 per share. The share price was $63.64 on November 10, 2026, 31% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$88.4M
Average free cash flow, last 5 years
$17M
Cash
$290.7M
balance sheet of September 30, 2026
Debt
$157.8M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
36,300,000
Revenue growth per year, last 5 years
5.2%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear0.0%1.0%2.0%10.0%$31.35-51%
Base5.0%4.0%2.5%9.0%$48.51-24%
Bull10.0%6.5%3.0%8.0%$80.56+27%

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%$60.79$64.53$69.10$74.81$82.15
8.0%$51.64$54.06$56.93$60.37$64.57
9.0%$44.95$46.60$48.51$50.75$53.38
10.0%$39.84$41.02$42.36$43.88$45.64
11.0%$35.83$36.69$37.66$38.74$39.97

Where the presets come from

Base: years 1 to 5 grow at Benchmark Electronics Inc's revenue growth rate over the last 5 fiscal years (5.2% 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

Benchmark Electronics Inc company page