What is Howmet Aerospace Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Howmet Aerospace Inc.'s reported free cash flow gives $75.33 per share. The share price was $232.48 on September 25, 2026, 209% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 4.5% | 10.0% | $43.60 | -81% |
| Base | 9.5% | 9.0% | $75.33 | -68% |
| Bull | 14.5% | 8.0% | $138.59 | -40% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $99.20 | $106.54 | $115.52 | $126.74 | $141.16 |
| 8.0% | $81.34 | $86.11 | $91.74 | $98.49 | $106.74 |
| 9.0% | $68.32 | $71.58 | $75.33 | $79.72 | $84.90 |
| 10.0% | $58.41 | $60.73 | $63.35 | $66.35 | $69.81 |
| 11.0% | $50.64 | $52.34 | $54.23 | $56.37 | $58.79 |
Where the presets come from
Base: years 1 to 5 grow at Howmet Aerospace Inc.'s revenue growth rate over the last 5 fiscal years (9.4% 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