What is Cardlytics, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Cardlytics, Inc.'s reported free cash flow gives -$0.00 per share. The share price was $3.30 on September 25, 2026, 6,011,145% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -0.5% | 10.0% | -$1.12 | -134% |
| Base | 4.5% | 9.0% | -$0.00 | -100% |
| Bull | 9.5% | 8.0% | $2.19 | -34% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $0.80 | $1.04 | $1.34 | $1.71 | $2.19 |
| 8.0% | $0.20 | $0.36 | $0.55 | $0.77 | $1.04 |
| 9.0% | -$0.23 | -$0.12 | -$0.00 | $0.14 | $0.32 |
| 10.0% | -$0.56 | -$0.49 | -$0.40 | -$0.30 | -$0.19 |
| 11.0% | -$0.83 | -$0.77 | -$0.71 | -$0.64 | -$0.56 |
Where the presets come from
Base: years 1 to 5 grow at Cardlytics, Inc.'s revenue growth rate over the last 5 fiscal years (4.5% 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