What is German American Bancorp, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on German American Bancorp, Inc.'s reported free cash flow gives $140.84 per share. The share price was $49.50 on September 25, 2026, 65% 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% | $86.58 | +75% |
| Base | 15.0% | 9.0% | $140.84 | +185% |
| Bull | 20.0% | 8.0% | $241.87 | +389% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $181.92 | $194.73 | $210.38 | $229.95 | $255.11 |
| 8.0% | $151.06 | $159.36 | $169.18 | $180.96 | $195.36 |
| 9.0% | $128.60 | $134.28 | $140.84 | $148.48 | $157.52 |
| 10.0% | $111.58 | $115.62 | $120.19 | $125.43 | $131.46 |
| 11.0% | $98.26 | $101.22 | $104.53 | $108.25 | $112.47 |
Where the presets come from
Base: years 1 to 5 grow at German American Bancorp, Inc.'s revenue growth rate over the last 3 fiscal years (20.6% 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