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Euronet Worldwide, Inc. (EEFT) Intrinsic Value

DCF-based fair value calculation with Bear, Base, and Bull scenarios

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Euronet Worldwide, Inc. (EEFT)

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Intrinsic Value (DCF)

Current$74.69
→
Intrinsic$254.53
+241%
$172.90$254.53$409.69
Market implies 1% growth for 5 years
DCF analysis suggests EEFT could have 241% upside at 11% growth — verify assumptions match your view.
At $75, the market prices in only 1% growth — below historical 11%, suggesting low expectations.
Range: Bear $173 → Bull $410. Current price implies expectations below the bear case — very conservative expectations.
Discount ↓Growth →7%9%11%13%
8%$304$332$361$393
10%$215$234$255$276
12%$166$180$195$212
14%$135$146$158$171

Bull Case

  • Bull case ($410) offers 449% upside at 13% growth, 9% discount
  • Price below even worst-case scenario — strong margin of safety
  • Market-implied growth (1%) ≤ historical CAGR (11%)

Bear Case

  • Bear case ($173) with 8% growth, 12% discount rate
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5-Year Free Cash Flow Projection

Year 1$680.41M
Year 2$752.04M
Year 3$831.21M
Year 4$918.72M
Year 5$1.02B
Terminal$14.94B

📐 Model Inputs

Growth Rate10.5%5Y CAGR (cascade: 5Y→3Y→TTM)
Discount Rate10.0%WACC estimate
Terminal Growth3.0%Perpetuity rate
Base Free Cash Flow$615.60MTTM actual
Bear g×0.8, r+2%
Base Historical CAGR
Bull g×1.2, r−1.5%
ℹ️

DCF estimates based on historical growth rates extrapolated forward. See FAQ below for full methodology.

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Frequently Asked Questions

Is EEFT stock undervalued or overvalued?
🟢 UNDERVALUED

EEFT trades at $74.69 vs. our DCF-derived intrinsic value of $254.53, implying +232% upside. At a 10.0% WACC and 10.5% projected FCF growth, the market appears to be underpricing the present value of EEFT's future cash flows. The bear case ($179.34) still suggests upside, providing margin of safety.

What is EEFT's intrinsic value?

Using a 5-year DCF model: Base FCF of $616M, projected at 10.5% 5Y CAGR (best of revenue, EPS, or FCF growth), discounted at 10.0% WACC, with 3.0% terminal growth. Terminal value calculated via Gordon Growth Model: TV = FCF₅ × (1+g) / (WACC−g). After deducting $162M net debt and dividing by 0.05B shares: Bear $179.34 | Base $254.53 | Bull $357.40. Current price $74.69 implies +232% to base case.

How is EEFT's fair value calculated?

DCF Methodology:

① Project FCF years 1-5 using 10.5% growth derived from 5-year historical CAGR (best of revenue, EPS, or FCF growth, with 8% floor and 25% cap).

② Calculate terminal value at year 5 using perpetuity growth model with g=3.0%.

③ Discount all cash flows to PV using WACC=10.0%.

④ Sum PV of explicit period + PV of terminal value = Enterprise Value ($12.40B).

⑤ Subtract net debt, divide by shares outstanding.

Sensitivity analysis available above—adjust WACC ±2% or growth ±3% to stress-test the valuation. Implied EV/FCF multiple: 20.1x.