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DCF valuation

What is Rush Enterprises Inc worth?

With the base-case assumptions below, a discounted cash flow model on Rush Enterprises Inc's reported free cash flow gives $135.73 per share. The share price was $44.69 on November 10, 2026, 67% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$462M
Cash
$226.4M
balance sheet of September 30, 2026
Debt
$269.8M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
80,726,000
Revenue growth per year, last 5 years
9.4%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear4.5%3.5%2.0%10.0%$84.21+88%
Base9.5%6.0%2.5%9.0%$135.73+204%
Bull14.5%9.0%3.0%8.0%$238.44+434%

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%$174.49$186.41$200.98$219.20$242.62
8.0%$145.50$153.23$162.37$173.33$186.74
9.0%$124.35$129.63$135.73$142.85$151.26
10.0%$108.26$112.02$116.28$121.15$126.77
11.0%$95.64$98.39$101.47$104.94$108.87

Where the presets come from

Base: years 1 to 5 grow at Rush Enterprises Inc's revenue growth rate over the last 5 fiscal years (9.4% 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

Rush Enterprises Inc company page