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Elevent Index Advisory / Valuation workspace

Company valuation calculator.
Understand every assumption.

An intrinsic DCF with every step on the page, and market cross-checks kept separate. No hidden price, no AI touching your numbers. See the DCF methodology.

Our division

Elevent Index Advisory

Part of Elevent Index’s advisory division.

This valuation workspace is part of the advisory division of Elevent Index.

What this calculator does

The Elevent Index Advisory calculator estimates a company's operating enterprise value by discounting free cash flow to the firm (FCFF), a discounted cash flow (DCF) method. It then adds cash and non-operating assets, subtracts debt and other claims, and divides by fully diluted shares to reach an equity value per share.

Educational estimate only. Results depend entirely on your assumptions, are not a market price, and are not investment, tax or legal advice.

01Inputs

Company and units

1.1Company and units

Choose the country for your default currency and number scale. This does not fetch company accounts, change tax assumptions or convert amounts into another currency.

Enter the business name for the report. A name alone does not look up or verify its financial information.

Currency (label only)

Choose the currency used in the financial statements. Every amount must use this currency. Selecting a different currency changes the label only, not the exchange rate.

Match the size unit in your accounts: 1 lakh = 1,00,000; 1 crore = 1,00,00,000; 1 million = 10,00,000. Enter 10 for an amount of ten crores when “Crores” is selected. Shares, percentages and multiples are never scaled.

Country sets the default currency and amount scale. Both can be changed independently. Switching units preserves underlying amounts; switching currency is not an exchange-rate conversion.

Base-year financials

1.2Base-year financials

Actual figures for the latest full year, all in the selected scale.

Input guidance is educational, not accounting advice. Use the same full financial year and the same consolidated business for every financial figure. If a required amount is unknown, do not assume it is zero.

₹ Cr

What to enter: Enter total annual sales, not profit. Find “Revenue from operations” or “Net sales” in the latest full-year income statement. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter annual profit before interest, tax, depreciation and amortisation. If only operating profit (EBIT) is available, add depreciation and amortisation. Do not substitute net profit. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter the annual depreciation and amortisation expense, not the total asset balance. Look in the cash-flow statement or the notes to accounts. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter annual net profit attributable to ordinary shareholders after interest and tax. This is only used for the P/E comparison. A loss can be entered as a negative number. Use INR crores (1,00,00,000) for this amount.

%

What to enter: Enter the tax rate expected on operating profit: type 25 for 25%, not 0.25. Check the company’s applicable tax regime; do not blindly use last year’s tax bill divided by profit.

₹ Cr

What to enter: Enter annual cash spent buying property, equipment and other long-term operating assets. Find it under investing cash flows. Enter spending as a positive amount even if the statement shows a minus sign. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter this year’s increase in operating working capital, not its closing balance. Compare inventories plus customer receivables minus supplier payables across two years; exclude cash and borrowing. An increase is positive; a release of cash is negative. Use INR crores (1,00,00,000) for this amount.

Forecast

1.3Forecast

Choose how future cash flows are built. Drivers mode is recommended; it forecasts revenue, margin and reinvestment separately.

Forecast method

Revenue growth fades to terminal growth; margin, depreciation, capex and working capital follow your drivers.

%

What to enter: Enter your expected first-year sales growth: type 8 for 8%. Use sales history, capacity and business plans to justify it, not share-price growth. The drivers forecast gradually moves this rate toward long-run growth.

yrs

What to enter: Enter a whole number from 1 to 10. This is how many years you will forecast in detail before estimating the continuing business value.

%

What to enter: Enter the operating profit margin you expect by the final forecast year: EBIT divided by revenue × 100. Type 15 for 15%. Use a realistic margin after depreciation, not an EBITDA margin.

%

What to enter: Enter annual depreciation and amortisation as a percentage of sales. Calculate annual depreciation ÷ annual revenue × 100 as a starting point, then adjust for planned assets.

%

What to enter: Enter expected annual capital spending as a percentage of sales. Calculate annual capex ÷ annual revenue × 100, and consider future maintenance and expansion spending.

%

What to enter: Enter how much extra inventory and unpaid customer bills, net of supplier credit, are needed for additional sales. Type 10 if each 100 of extra sales needs 10 of extra working capital. This is a percentage of the CHANGE in revenue.

%

What to enter: Enter a modest annual growth rate after the detailed forecast ends. It must be below WACC and sustainable indefinitely in the chosen currency; short-term fast growth is not a suitable perpetual rate.

%

What to enter: Enter the after-tax return expected on each unit of NEW capital invested after the forecast. Type 12 for 12%. It must be positive and at least terminal growth. Historical returns are a starting point, not a guarantee.

Terminal growth needs reinvestment: reinvestment rate = terminal growth / return on new capital. Must be positive and at least terminal growth.

Discount rate and timing

1.4Discount rate and timing

All rates are your own assumptions. Nothing here is a live market benchmark.

Discount rate method

Type the discount rate you have already decided on.

Research starting point / 05 Jan 2026

Optional country equity-risk premiums for 178 markets. This is a dated research snapshot, not a live market feed or a company-specific recommendation.

Choose the market where the company earns money and bears operating risk, not simply where its shares are listed or which currency you selected. A multinational may need a revenue-weighted premium that this simple picker does not calculate.

India: total equity risk premium 7.08% (includes country risk of 2.85%).

Review and update this estimate before using it. The calculator’s simple CAPM applies beta to the total premium; a separate country-risk exposure model is not implemented. Applying it changes only the equity-risk premium and switches to CAPM. No financial statements, bond yields or other inputs are filled automatically.

%

What to enter: Enter the annual return required by shareholders and lenders together: type 12 for 12%. It must exceed terminal growth. If unsure, choose “Build with CAPM” rather than entering an unsupported rate.

Cash flow timing

Cash flow in year t is discounted t years. Conservative and simple.

Equity bridge

1.5Equity bridge

Converts enterprise value to value for shareholders.

₹ Cr

What to enter: Enter cash and cash equivalents that belong to shareholders and are not required in the operating cash flows. Find them on the balance sheet; do not count the same cash in other non-operating assets. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter the separately estimated value of investments or other assets excluded from operating cash flows. Do not include cash again. Enter 0 if none apply; book value is not always market value. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter interest-bearing borrowings and any debt-like obligations consistently included in your valuation. Find them in the balance sheet and borrowing notes. Enter 0 only if genuinely debt-free, and avoid counting leases twice. Use INR crores (1,00,00,000) for this amount.

₹ Cr

What to enter: Enter claims ahead of ordinary shareholders, such as preferred shares or non-controlling interests. Do not include debt already entered above. Enter 0 if none apply. Use INR crores (1,00,00,000) for this amount.

shares

What to enter: Enter the fully diluted share COUNT in full units, including likely dilution from options and convertibles. Use the share-capital or earnings-per-share notes. For ten lakh shares, enter 1000000 even when money is shown in crores.

1.6Market cross-checks (optional)

Peer multiples apply to your current positive metrics and are shown one by one, never averaged. An exit multiple gives a separate terminal-value check and does not replace the DCF. Enter 0 to skip any of them.

x

What to enter: Optional: enter a comparable-company enterprise value ÷ EBITDA multiple, such as 10 for 10×. Use comparable businesses and matching financial periods. Enter 0 to skip; a non-positive EBITDA is not a meaningful denominator.

x

What to enter: Optional: enter a comparable-company price ÷ earnings multiple, such as 20 for 20×. Use ordinary-shareholder earnings for a matching period. Enter 0 to skip; loss-making earnings cannot support this comparison.

x

What to enter: Optional: enter comparable-company enterprise value ÷ annual sales, such as 2 for 2×. Compare businesses with similar margins and growth. Enter 0 to skip.

x

What to enter: Optional: enter comparable-company enterprise value ÷ operating profit AFTER depreciation, such as 12 for 12×. This is not EV/EBITDA. Enter 0 to skip; non-positive EBIT is not a meaningful denominator.

x

What to enter: Optional: enter a plausible enterprise-value/EBITDA multiple for the business at the END of the forecast. This is a separate cross-check, not the main valuation. Enter 0 to skip; it only applies when terminal EBITDA is actually projected.

02Results

No valuation yet

Fill in the inputs or load the labelled example, then calculate. Nothing is shown until you do.

Quick answers

What does this company valuation calculator calculate?

The Elevent Index Advisory company valuation calculator estimates operating enterprise value from discounted free cash flow to the firm (FCFF). It adds non-operating cash and assets, subtracts debt and other claims, and divides equity value by fully diluted shares to estimate value per share. The result is an educational estimate based on your inputs, not a quoted market price.

Who publishes this valuation workspace?

This valuation workspace is published by Elevent Index Advisory and is part of the advisory division of Elevent Index. The calculator and Dr. Ghosh provide valuation education; this affiliation alone does not establish regulatory registration or certification.

How is free cash flow to the firm calculated?

FCFF equals after-tax operating profit plus depreciation and amortisation, minus capital expenditure and the increase in noncash operating working capital. EBIT equals EBITDA minus depreciation and amortisation. The calculator charges operating tax only when EBIT is positive; it does not assume an immediate tax credit for losses.

What is the difference between drivers mode and simple FCFF mode?

Drivers mode forecasts revenue, EBIT margin, depreciation, capital expenditure and working-capital investment separately. Revenue growth fades toward terminal growth and the EBIT margin moves toward your target. Simple FCFF mode grows the base-year FCFF at a constant rate; it does not independently model sales, margins or a loss-making turnaround.

Read all valuation questions and answers