What is Primo Brands Corp worth?
With the base-case assumptions below, a discounted cash flow model on Primo Brands Corp's reported free cash flow gives $12.94 per share. The share price was $19.50 on September 25, 2026, 51% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 9.5% | 10.0% | $3.12 | -84% |
| Base | 14.5% | 9.0% | $12.94 | -34% |
| Bull | 19.5% | 8.0% | $32.51 | +67% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $20.54 | $22.91 | $25.80 | $29.41 | $34.05 |
| 8.0% | $14.84 | $16.37 | $18.18 | $20.36 | $23.01 |
| 9.0% | $10.68 | $11.73 | $12.94 | $14.35 | $16.02 |
| 10.0% | $7.53 | $8.28 | $9.12 | $10.09 | $11.20 |
| 11.0% | $5.07 | $5.62 | $6.23 | $6.91 | $7.69 |
Where the presets come from
Base: years 1 to 5 grow at Primo Brands Corp's revenue growth rate over the last 3 fiscal years (14.5% 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