Nothing to paste? — 10-K excerpts and a market-data screen for a fictional flow-control maker. Or , rendered from a saved reply with no run and no charge.
Paste the material
10-K excerpts, a data screen, your notes. Or paste an assumptions JSON straight into the editor and press Compute locally — the whole engine runs free in your browser, no sign-in.
The model proposes, the engine computes
The AI extracts the facts and proposes Bear/Base/Bull assumptions — it never does the arithmetic. Projections, WACC, terminal value, the equity bridge, the reverse DCF and the sensitivity grids are computed deterministically here.
Audit, edit, recompute
Every number traces to a line you pasted or an explicit "assumed" flag. Disagree with one? Edit the JSON and recompute instantly, free, and compare the new implied price against your previous build. The source skill's sanity checks run on every build.
Is DCF Studio investment advice?
No. DCF Studio is a modelling aid, not investment advice and not a professional valuation. Every figure it prints is arithmetic applied to assumptions that you or a language model supplied, and a different but equally defensible set of assumptions gives a different answer. Nothing it produces is a price target.
Does the AI do the arithmetic?
No, and that is deliberate. The model's only job is judgement: extract the facts from what you pasted and propose defensible Bear, Base and Bull assumptions. Every projection, the CAPM WACC, the mid-year discounting, the perpetuity terminal value, the equity bridge and the sensitivity grids are computed by a deterministic engine that runs in your browser, so the same assumptions always give the same numbers.
What happens if the terminal growth rate is not below the discount rate?
The scenario is refused rather than computed. A perpetuity terminal value divides by the discount rate minus the terminal growth rate, so as growth approaches the discount rate the value diverges toward infinity. DCF Studio requires at least 25 basis points of headroom and otherwise reports the scenario as not computable, because a confident wrong number is worse than no number.
Can I use DCF Studio without signing in or spending anything?
Yes. Paste or hand-edit an assumptions JSON object and press Compute locally: the entire valuation engine — projections, WACC, terminal value, equity bridge, reverse DCF and all three sensitivity grids — runs in your browser with no sign-in, no network call and no charge. Only the AI extraction lane, which reads your pasted financials and proposes the assumptions, is metered.
What is the reverse DCF?
The forward model answers what the company is worth under your assumptions. The reverse DCF answers the inverse: holding everything else at your base case, what terminal growth rate, discount rate, beta or change in revenue growth would make the model print today's actual share price. It is solved by bisection over the same engine, so it costs nothing and works in the free lane too.