What is Park National Corp worth?
With the base-case assumptions below, a discounted cash flow model on Park National Corp's reported free cash flow gives $312.04 per share. The share price was $181.68 on September 25, 2026, 42% 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 | 4.0% | 10.0% | $205.06 | +13% |
| Base | 9.0% | 9.0% | $312.04 | +72% |
| Bull | 14.0% | 8.0% | $511.64 | +182% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $390.46 | $414.59 | $444.07 | $480.93 | $528.31 |
| 8.0% | $331.80 | $347.45 | $365.94 | $388.12 | $415.24 |
| 9.0% | $289.01 | $299.70 | $312.04 | $326.44 | $343.46 |
| 10.0% | $256.46 | $264.06 | $272.68 | $282.53 | $293.90 |
| 11.0% | $230.91 | $236.48 | $242.71 | $249.73 | $257.67 |
Where the presets come from
Base: years 1 to 5 grow at Park National Corp's revenue growth rate over the last 3 fiscal years (8.9% 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