What is Sonos Inc worth?
With the base-case assumptions below, a discounted cash flow model on Sonos Inc's reported free cash flow gives $15.03 per share. The share price was $18.18 on September 25, 2026, 21% 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 | -3.5% | 10.0% | $10.01 | -45% |
| Base | 1.5% | 9.0% | $15.03 | -17% |
| Bull | 6.5% | 8.0% | $24.80 | +36% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $18.53 | $19.59 | $20.88 | $22.49 | $24.56 |
| 8.0% | $15.93 | $16.61 | $17.42 | $18.39 | $19.58 |
| 9.0% | $14.02 | $14.49 | $15.03 | $15.66 | $16.40 |
| 10.0% | $12.56 | $12.90 | $13.27 | $13.70 | $14.20 |
| 11.0% | $11.41 | $11.66 | $11.93 | $12.24 | $12.58 |
Where the presets come from
Base: years 1 to 5 grow at Sonos Inc's revenue growth rate over the last 5 fiscal years (1.7% 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