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DCF valuation

What is Paymentus Holdings, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Paymentus Holdings, Inc.'s reported free cash flow gives $44.32 per share. The share price was $30.17 on September 25, 2026, 32% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$161.8M
Average free cash flow, last 5 years
$66.1M
Cash
$377.7M
balance sheet of June 30, 2026
Debt
$0
not reported, counted as 0
Diluted shares, fiscal 2025
129,113,684
Revenue growth per year, last 4 years
41.1%

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%$28.08-7%
Base15.0%9.0%2.5%9.0%$44.32+47%
Bull20.0%11.5%3.0%8.0%$74.57+147%

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%$56.62$60.45$65.14$71.00$78.53
8.0%$47.38$49.87$52.81$56.33$60.64
9.0%$40.66$42.36$44.32$46.61$49.31
10.0%$35.56$36.77$38.14$39.71$41.51
11.0%$31.57$32.46$33.45$34.56$35.83

Where the presets come from

Base: years 1 to 5 grow at Paymentus Holdings, Inc.'s revenue growth rate over the last 4 fiscal years (41.1% 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

Paymentus Holdings, Inc. company page