What is Five9, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Five9, Inc.'s reported free cash flow gives $77.68 per share. The share price was $35.77 on September 25, 2026, 54% 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 | 10.0% | 10.0% | $48.04 | +34% |
| Base | 15.0% | 9.0% | $77.68 | +117% |
| Bull | 20.0% | 8.0% | $132.89 | +272% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $100.13 | $107.13 | $115.68 | $126.38 | $140.12 |
| 8.0% | $83.27 | $87.81 | $93.17 | $99.61 | $107.47 |
| 9.0% | $71.00 | $74.10 | $77.68 | $81.86 | $86.80 |
| 10.0% | $61.70 | $63.90 | $66.40 | $69.26 | $72.56 |
| 11.0% | $54.42 | $56.04 | $57.84 | $59.88 | $62.18 |
Where the presets come from
Base: years 1 to 5 grow at Five9, Inc.'s revenue growth rate over the last 5 fiscal years (21.4% 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