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 $132.16 per share. The share price was $20.15 on November 10, 2026, 85% 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% | $81.44 | +304% |
| Base | 11.0% | 9.0% | $132.16 | +556% |
| Bull | 16.0% | 8.0% | $226.74 | +1,025% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $169.76 | $181.39 | $195.59 | $213.35 | $236.18 |
| 8.0% | $141.59 | $149.13 | $158.04 | $168.73 | $181.79 |
| 9.0% | $121.06 | $126.21 | $132.16 | $139.10 | $147.30 |
| 10.0% | $105.46 | $109.12 | $113.28 | $118.03 | $123.50 |
| 11.0% | $93.23 | $95.92 | $98.92 | $102.30 | $106.13 |
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