The defaults are the Argos Index for Q2 2026: the median paid for unlisted euro-area companies worth EUR 15M to 500M, by strategic buyers, by all buyers and by private equity funds. Type your own comparables over them.
04 Cash flow cross-check
Five years of free cash flow and a terminal value, discounted. The four sliders are your assumptions.
EBITDA growth a year 5%-10%30%
Share of EBITDA left as free cash flow 60%0%100%After tax, capital spending and working capital
Discount rate 12%5%30%
Growth after year five 2%0%4%
What it returns
Equity value
n/a
Enterprise value
n/a
Equity, cash flow
n/a
The detail behind itEquity value by method, low to high