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What is DMC Global Inc. worth?

With the base-case assumptions below, a discounted cash flow model on DMC Global Inc.'s reported free cash flow gives $60.76 per share. The share price was $7.77 on November 10, 2026, 87% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$37M
Average free cash flow, last 5 years
$24.2M
Cash
$38M
balance sheet of September 30, 2026
Debt
$51.7M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
19,912,020
Revenue growth per year, last 5 years
21.6%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$36.64+372%
Base15.0%9.0%2.5%9.0%$60.76+682%
Bull20.0%11.5%3.0%8.0%$105.65+1,260%

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%$79.01$84.70$91.66$100.35$111.53
8.0%$65.30$68.99$73.35$78.59$84.98
9.0%$55.32$57.84$60.76$64.15$68.17
10.0%$47.75$49.55$51.58$53.91$56.59
11.0%$41.83$43.15$44.62$46.28$48.15

Where the presets come from

Base: years 1 to 5 grow at DMC Global Inc.'s revenue growth rate over the last 5 fiscal years (21.6% 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

DMC Global Inc. company page