What is Yelp Inc worth?
With the base-case assumptions below, a discounted cash flow model on Yelp Inc's reported free cash flow gives $131.76 per share. The share price was $18.03 on September 25, 2026, 86% 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% | $81.04 | +349% |
| Base | 11.0% | 9.0% | $131.76 | +631% |
| Bull | 16.0% | 8.0% | $226.35 | +1,155% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $169.37 | $180.99 | $195.20 | $212.95 | $235.78 |
| 8.0% | $141.20 | $148.73 | $157.64 | $168.33 | $181.40 |
| 9.0% | $120.66 | $125.82 | $131.76 | $138.70 | $146.90 |
| 10.0% | $105.07 | $108.73 | $112.88 | $117.63 | $123.11 |
| 11.0% | $92.83 | $95.52 | $98.52 | $101.90 | $105.73 |
Where the presets come from
Base: years 1 to 5 grow at Yelp Inc's revenue growth rate over the last 5 fiscal years (10.9% 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