What is Spok Holdings, Inc worth?
With the base-case assumptions below, a discounted cash flow model on Spok Holdings, Inc's reported free cash flow gives $16.88 per share. The share price was $11.86 on November 10, 2026, 30% 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 | -6.0% | 10.0% | $11.11 | -6% |
| Base | -1.0% | 9.0% | $16.88 | +42% |
| Bull | 4.0% | 8.0% | $27.65 | +133% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $20.84 | $22.02 | $23.47 | $25.28 | $27.60 |
| 8.0% | $17.91 | $18.67 | $19.58 | $20.67 | $22.00 |
| 9.0% | $15.75 | $16.27 | $16.88 | $17.59 | $18.42 |
| 10.0% | $14.10 | $14.47 | $14.90 | $15.38 | $15.94 |
| 11.0% | $12.80 | $13.07 | $13.38 | $13.72 | $14.11 |
Where the presets come from
Base: years 1 to 5 grow at Spok Holdings, Inc's revenue growth rate over the last 5 fiscal years (-1.2% 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