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DCF valuation

What is Flowco Holdings Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Flowco Holdings Inc.'s reported free cash flow gives $58.39 per share. The share price was $20.61 on November 10, 2026, 65% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$167.1M
Average free cash flow, last 3 years
$98.1M
Cash
$137.8M
balance sheet of September 30, 2026
Debt
$363.4M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
90,673,021
Revenue growth per year, last 2 years
76.7%

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%$34.50+67%
Base15.0%9.0%2.5%9.0%$58.39+183%
Bull20.0%11.5%3.0%8.0%$102.88+399%

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%$76.48$82.12$89.01$97.63$108.71
8.0%$62.89$66.55$70.87$76.06$82.40
9.0%$53.01$55.51$58.39$61.76$65.74
10.0%$45.51$47.29$49.30$51.61$54.27
11.0%$39.65$40.95$42.41$44.05$45.90

Where the presets come from

Base: years 1 to 5 grow at Flowco Holdings Inc.'s revenue growth rate over the last 2 fiscal years (76.7% 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

Flowco Holdings Inc. company page