Many sites print a price target. We show the arithmetic.
What a business is worth, and why.
Type a ticker to see a fair value, a 0–100 score and every assumption behind them, built for investors who do the reading themselves.
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Built by Miraaj Patel — every input shown with the filing it came from.
See a worked exampleNo ticker? Browse companies below fair valueFree to read. Prices are delayed. Not advice.
Delayed price
$343.99
As of · Prices are delayed.- Fair value
- $162.45
- Downside to fair value
- 52.8%
- TickerWorth Score
- D43/100Expensive vs our estimate — the business scores well
How the score is built
Ranked against Technology companies in US
| Measure | Weight | Score |
|---|---|---|
| Value | 25% | 32 |
| Price vs worth | 15% | 8 |
| Quality | 20% | 78 |
| Financial health | 15% | 38 |
| Growth | 15% | 29 |
| Momentum | 10% | 85 |
What goes into the fair value
- Base-year revenue$416,161,000,000Apple FY2025 10-K (accession 0000320193-25-000079, filed 2025-10-31), fiscal year ended 2025-09-27: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, FY2025 = $416,161M, +6.4% on FY2024's $391,035M. This is the latest COMPLETED fiscal year with a filed 10-K: FY2026 ended 2026-09-26 but its 10-K is not filed yet (Apple usually files in early November), so FY2025 stays the base and FY2026 is Year 1. CROSS-CHECK, Q3 FY2026 10-Q: nine-month revenue $364,357M vs $313,695M a year earlier, +16.2%; Q3 alone $109,417M, +16.4%. Trailing twelve months through 2026-06-27 = $416,161M - $313,695M + $364,357M = $466,823M.
- Risk-free rate5.2%US 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. House input shared by every model in the tracker.
- Forecast revenue growth15% → 7% → 6% → 5% → 4%ESTIMATEAssumption — TickerWorth's 5-year explicit forecast
Sources
Every assumption, with its source.
Each input says where it came from: a filing, a market feed, or our own assumption, labelled ESTIMATE with its basis.
What goes into Apple Inc.’s fair value
- Base EBIT margin32.0%Apple FY2025 10-K (accession 0000320193-25-000079, filed 2025-10-31): us-gaap:OperatingIncomeLoss FY2025 $133,050M / revenue $416,161M = 31.97%. Apple reports an operating-income line, so this is read off the filing, not derived. Gross margin $195,201M (46.9%) less R&D $34,550M and SG&A $27,601M. History for context: FY2024 31.51% ($123,216M / $391,035M). CROSS-CHECK, Q3 FY2026 10-Q: nine-month operating income $122,432M / $364,357M = 33.60%, BUT that includes tariff refunds — Apple says Q3's 50.1% gross margin carried 'a favorable impact of approximately 2 percentage points from tariff refunds' (Ex-99.1), after the Supreme Court struck down the IEEPA tariffs on 2026-02-20 (10-Q MD&A). Ex-refunds the nine-month margin is ~33.0%. Non-operating income (FY2025: -$321M) is excluded; interest income is captured through the net-cash bridge instead.
- Beta1.08Yahoo Finance 5Y-monthly beta via yfinance, read 2026-10-03: Published 5Y-monthly beta 1.085, used AS PUBLISHED — no normalization. There is an argument in each direction and neither is strong enough to override the published figure: Apple's cash flows are steadier than a 1.085 beta suggests (argues lower), but it is also ~7% of the S&P 500, so its beta is partly its own weight in the index (argues for leaving it alone). Sensitivity: beta 1.0 gives ~$125.6/share, 0.9 gives ~$134.0, 1.2 gives ~$111.6. The reverse DCF shows no plausible beta closes the gap to the price (see explainer).
- Forecast revenue growth15% → 7% → 6% → 5% → 4%ESTIMATEAssumption — TickerWorth's 5-year explicit forecast
- Terminal growth2.5%ESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability with every other company in this tracker. Not raised for Apple: a ~$590B-revenue business by FY2030 growing faster than the world economy forever is exactly the assumption the market price is making, and this model should show that rather than adopt it. 3.5% would give ~$131/share. Well below the 10.56% WACC.
Refusals
We say when a model doesn’t fit.
A cash-flow model is the wrong tool for some businesses. Their pages say so, and show what we can support instead.
JPMorgan Chase & Co.
JPMDCF declined · bank model used
Valuation Snapshot
This is a bank / insurer / financial. A free-cash-flow DCF is structurally the wrong lens here (their debt and float are raw material, not financing), so we don't publish one. Instead we value it with a bank model — justified price-to-book, (ROE − g) ÷ (cost of equity − g), on a return on equity of 18.0% and a cost of equity of 9.9% — at about $276.72 a share ($243.85–$319.85 for a cost of equity one point either way), against a price of $335.19. A dividend-discount cross-check gives about $91.22, shown as a reference only. Every input is listed with its source; it is a model estimate, not a price target.
bank / insurer · bank model (justified price-to-book)
Coverage
Price against fair value, wherever we publish one.
The delayed price beside our fair value, for the 889 of 1,711 companies that carry one.
Table assembled · Prices are delayed.
| Company | Price | Our fair value | Gap |
|---|---|---|---|
| AMZNPrice $262.37 | $168.86Computed | 35.6% over | |
| AVGOPrice $337.80 | $226.80Computed | 32.9% over | |
| AMDPrice $552.72 | $226.01Computed | 59.1% over · our model understates this oneWhy this caveatHide the caveatOur cash-flow model is a poor lens for this company: it holds margins flat and fades growth toward a long-run rate, which understates a fast-growing business. The company page carries this same caveat — this is it, next to the number it applies to. | |
| COSTPrice $998.31 | $329.45Computed | 67.0% over | |
| ADBEPrice $255.06 | $310.06Computed | 21.6% under | |
| BKNGPrice $158.38 | $238.48Computed | 50.6% under | |
| CRMPrice $241.78 | $170.43Computed | 29.5% over |
Popular valuations
What readers look up most.
Ranked by how often each ticker is searched here. Each page shows our estimate of what the business is worth and where its inputs came from, or why we decline to give one.
- AAPL Apple Inc.
- GOOGL Alphabet Inc.
- MSFT Microsoft Corporation
- NVDA NVIDIA Corporation
- DVA DaVita Inc.
- META Meta Platforms, Inc.
- AMZN Amazon.com, Inc.
- CAT Caterpillar Inc.
- MU Micron Technology, Inc.
- T AT&T Inc.
- AAOI Applied Optoelectronics, Inc.
- LULU lululemon athletica inc.
- HON Honeywell International Inc. (operating as Honeywell Technologies)
- SMCI Super Micro Computer, Inc.
- TGT Target Corporation
- MAS Masco Corporation
- BMY Bristol-Myers Squibb Company
- AMD Advanced Micro Devices, Inc.
- FDX FedEx Corporation
- AVGO Broadcom Inc.
- KO The Coca-Cola Company
- SNDK Sandisk Corporation
- COST Costco Wholesale Corporation
- PLTR Palantir Technologies Inc.
Pricing
What’s free, and what Pro adds.
Free
- Fair value, verdict and gap for all 889 companies we value.
- Every input, and where it came from.
- The discount-rate dial and reverse DCF.
- 25 screener matches, a watchlist and a portfolio.
- Apple, with every paid panel open.
Pro
- Edit growth, margin, horizon and discount rate.
- The whole screen, with export.
- Portfolio stress tests against our fair values.
- The workbook, with live formulas.
- Alerts when a score or fair value moves.
Questions
Before you start.
Is this investment advice?
No. We publish estimates of what a business is worth and show how we got there, never a recommendation, a prediction or a price target.
Why are prices delayed?
We use a delayed market feed, and every price says so. Where the feed gives the time of a quote we print it; a page built as a dated snapshot says it has no quote time. Valuations are built from filings, where a few minutes makes no difference.
Why won’t you value some companies?
A cash-flow model is the wrong tool for banks, insurers, REITs and regulated utilities. Their pages say so and show what we can support instead.
Why doesn’t my ticker have a fair value yet?
Either we chose not to put one on it, or we haven’t modeled it yet. Of the 1,711 companies we cover, 889 have a published fair value and 200 are shown as a range only. We decline to value 618 and say why on each page, and 4 are not modeled yet. A company we haven’t modeled is valued live when you open it: 1 a day signed out, 5 a day with a free account. How we decide when a model fits. What has changed, and when.
How do I know your growth assumptions aren’t optimistic?
You don’t have to take them on trust. Every assumption on a company page is printed with its basis, and one we chose rather than read from a filing is labelled ESTIMATE. The fair value blends several valuation methods, weighted toward the one that suits the business, so a generous growth rate moves only the DCF’s share of it, and the reverse DCF shows the growth today’s price already implies, so you can set the two side by side. How we value a company.
How is the score built?
Each measure is weighted as listed and ranked against companies in the same sector and region. The grade describes the company at today’s price, and it isn’t a rating to buy or sell.
Can I cancel Pro any time?
Yes, from Manage billing, with no call or email. You keep Pro until the end of the period you paid for. Nothing renews after that.
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