What is i3 Verticals, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on i3 Verticals, Inc.'s reported free cash flow gives -$0.94 per share. The share price was $14.88 on September 25, 2026, 1,682% 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 | 2.5% | 10.0% | -$1.81 | -112% |
| Base | 7.5% | 9.0% | -$0.94 | -106% |
| Bull | 12.5% | 8.0% | $0.80 | -95% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | -$0.29 | -$0.09 | $0.15 | $0.46 | $0.85 |
| 8.0% | -$0.78 | -$0.65 | -$0.49 | -$0.31 | -$0.09 |
| 9.0% | -$1.13 | -$1.04 | -$0.94 | -$0.82 | -$0.68 |
| 10.0% | -$1.40 | -$1.34 | -$1.27 | -$1.19 | -$1.09 |
| 11.0% | -$1.61 | -$1.57 | -$1.51 | -$1.46 | -$1.39 |
Where the presets come from
Base: years 1 to 5 grow at i3 Verticals, Inc.'s revenue growth rate over the last 5 fiscal years (7.3% 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