What is Travelzoo worth?
With the base-case assumptions below, a discounted cash flow model on Travelzoo's reported free cash flow gives $13.64 per share. The share price was $5.58 on September 25, 2026, 59% 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 | 6.5% | 10.0% | $8.69 | +56% |
| Base | 11.5% | 9.0% | $13.64 | +144% |
| Bull | 16.5% | 8.0% | $23.52 | +321% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $17.41 | $18.58 | $20.00 | $21.78 | $24.07 |
| 8.0% | $14.59 | $15.34 | $16.24 | $17.31 | $18.62 |
| 9.0% | $12.53 | $13.04 | $13.64 | $14.34 | $15.16 |
| 10.0% | $10.96 | $11.33 | $11.75 | $12.22 | $12.77 |
| 11.0% | $9.74 | $10.01 | $10.31 | $10.65 | $11.03 |
Where the presets come from
Base: years 1 to 5 grow at Travelzoo's revenue growth rate over the last 5 fiscal years (11.3% 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