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DCF valuation

What is People Inc worth?

With the base-case assumptions below, a discounted cash flow model on People Inc's reported free cash flow gives $5.29 per share. The share price was $43.79 on November 10, 2026, 728% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$44.8M
Average free cash flow, last 5 years
$57.3M
Cash
$1.32B
balance sheet of September 30, 2026
Debt
$1.41B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
80,077,000
Revenue growth per year, last 5 years
-2.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-8.0%-3.0%2.0%10.0%$2.92-93%
Base-3.0%-0.0%2.5%9.0%$5.29-88%
Bull2.0%2.5%3.0%8.0%$9.71-78%

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%$6.89$7.37$7.95$8.68$9.61
8.0%$5.71$6.02$6.38$6.82$7.35
9.0%$4.84$5.05$5.29$5.57$5.91
10.0%$4.17$4.32$4.49$4.68$4.90
11.0%$3.64$3.75$3.87$4.01$4.16

Where the presets come from

Base: years 1 to 5 grow at People Inc's revenue growth rate over the last 5 fiscal years (-2.8% 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

People Inc company page