Overview
Discounted cash flow
Income / accounting-based
Multiples & assets
Scenario
Toolbox
Weighted blend
$226.59
+41.64% vs spot
Strong Buy
Spot price
$159.97
Mkt cap $77.07B
subtle cardAnalyst PT consensus
$207.11
+29.47% vs spot
subtle cardMethods covered
18 / 20
9 in blend
subtle cardFootball field
MRSH · fair-value range by method
Method comparison
MRSH · fair value by valuation framework
| Method | Category | Fair value | Range | vs spot | Weight | Driver | Conf. |
|---|---|---|---|---|---|---|---|
| DCF · FCFF | dcf | $1,123.04 | $565.50 – $3,944.15 | +602.03% | 6.0% | WACC 5.0%, g₀=14.9%, gₗ=3.5% | high |
| DCF · FCFE | dcf | $381.70 | $263.93 – $595.83 | +138.61% | 11.9% | kₑ 7.3%, g₀=14.9%, gₗ=3.5% | high |
| DDM · Gordon | ddm | $93.26 | $73.70 – $126.95 | -41.70% | 11.9% | D₁ 3.39, kₑ 7.3%, gₗ 3.5% | med |
| DDM · H-model | ddm | $144.41 | $103.45 – $214.97 | -9.72% | — | D₀ 3.39, g₀=14.9%, gₗ=3.5%, H 5y | med |
| DDM · multi-stage | ddm | $120.34 | $102.29 – $138.39 | -24.78% | 11.9% | 5y schedule 14.9% → 3.5%, kₑ 7.3% | high |
| Residual income | income | $45.75 | $40.26 – $51.24 | -71.40% | 21.4% | BV 30.60, ROE 27.2% → kₑ | high |
| EVA / MVA | income | $812.40 | $714.91 – $909.89 | +407.85% | 7.1% | IC 34.1B, WACC 5.0% | high |
| Excess returns | income | $55.83 | $49.13 – $62.53 | -65.10% | 14.3% | BV 30.60, ROE 27.2% | high |
| P/E · sector | multiple | $118.02 | $103.86 – $132.18 | -26.22% | 9.5% | EPS 8.43 × peer P/E 14.0 | med |
| P/S · sector | multiple | $161.72 | $137.47 – $185.98 | +1.10% | — | Rev/sh 53.91 × peer P/S 3.00 | med |
| EV / EBITDA | multiple | $110.27 | $97.03 – $123.50 | -31.07% | — | EBITDA × peer 10.0× − ND 18.8B | high |
| EV / EBIT | multiple | $111.72 | $94.96 – $128.47 | -30.16% | — | EBIT × peer 12.0× − ND | med |
| EV / Sales | multiple | $99.98 | $84.98 – $114.98 | -37.50% | — | Sales × peer 2.55× − ND | med |
| PEG-anchored | multiple | $197.24 | $167.65 – $226.82 | +23.30% | — | PEG=1, fwd EPS g 23.4% | med |
| Earnings power | intrinsic | $150.11 | $132.10 – $168.12 | -6.16% | — | NOPAT / WACC, no growth | med |
| Graham revised | intrinsic | $318.37 | $270.61 – $366.12 | +99.02% | — | EPS×(8.5+2g)·4.4/Y | low |
| Lynch P/E=g | intrinsic | $125.53 | $106.70 – $144.36 | -21.53% | — | PE = g (14.9) | low |
| Book NAV | asset | $30.60 | $29.07 – $32.13 | -80.87% | 6.0% | (Assets − Liabilities) / Shares | high |
| Liquidation | asset | — | — | — | — | Cash 100% + non-cash 70% − Liab. | low |
| Reverse DCF | reverse | — | — | — | — | Implied g -20.0% · Pessimistic — market pricing decline | high |
Cost-of-capital build-up
CAPM cost of equity, after-tax cost of debt, WACC. Risk-free as of 2026-05-12.
| Risk-free rate (US 10y Treasury)rf | 4.46% |
| Equity beta (0.64)β | × 0.64 |
| Equity risk premiumERP | 4.46% |
| Cost of equity (CAPM)kₑ | 7.30% |
| Pre-tax cost of debtkd | 4.48% |
| Effective tax ratet | 24.3% |
| After-tax cost of debt | 3.39% |
| Equity weight$15.3B | 41.7% |
| Debt weight$21.4B | 58.3% |
| WACC | 5.02% |
Growth assumptions
Blended forward growth used as DCF default; terminal pegged to long-run nominal GDP.
| Analyst forward revenue growthFMP | 5.38% |
| Analyst forward EPS growthFMP | 23.40% |
| Historical 5y revenue CAGRFY | 8.02% |
| Historical 5y EPS CAGRFY | 8.29% |
| Sustainable g (ROE × retention)Δ | 16.07% |
| Blended near-term growth (g₀) | 14.89% |
| Terminal growth (gₗ) | 3.53% |
Sources
- FMP /analyst-estimates— 8 rows(as of 2021-12-31)
- Treasury rates · 10y— 4.46% rf(as of 2026-05-12)
- market_risk_premium · DB— 4.46% ERP(as of 2026-05-13)
- Sector multiple defaults— Financial Services (live sector PE unavailable)
- FMP /price-target-consensus— mean $207.11
This page is generated by a quantitative valuation engine for research purposes only and does not constitute investment advice. Methodology follows standard CFA / Damodaran frameworks; assumptions are driven by analyst consensus from Financial Modeling Prep and reported financial statements.