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DCF valuation

What is Koppers Holdings Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Koppers Holdings Inc.'s reported free cash flow gives $10.36 per share. The share price was $29.61 on November 10, 2026, 186% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$67.5M
Average free cash flow, last 5 years
$22M
Cash
$42.8M
balance sheet of September 30, 2026
Debt
$895.8M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
20,405,000
Revenue growth per year, last 5 years
2.4%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-2.5%-0.5%2.0%10.0%-$9.38-132%
Base2.5%2.5%2.5%9.0%$10.36-65%
Bull7.5%5.5%3.0%8.0%$48.81+65%

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%$24.24$28.43$33.55$39.94$48.17
8.0%$13.92$16.64$19.85$23.70$28.40
9.0%$6.36$8.22$10.36$12.86$15.82
10.0%$0.59$1.91$3.41$5.12$7.09
11.0%-$3.96-$2.99-$1.91-$0.70$0.68

Where the presets come from

Base: years 1 to 5 grow at Koppers Holdings Inc.'s revenue growth rate over the last 5 fiscal years (2.4% 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

Koppers Holdings Inc. company page