Free guide

How to value a company.

A beginner's guide to discounted cash flow (DCF) valuation, step by step. We use Amazon as a real example and walk through every number together. All you need is a calculator.

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Page 2: money later is worth less, with the discount table
Every number shown
Page 1: What Is Amazon Actually Worth? The plan, in four steps
A real company
Page 6: after year 10, then per share, ending in an intrinsic value per share
A real answer

What you'll learn

  • Why money later is worth less today, and exactly how much less.
  • Four steps to value Amazon, with every number worked out in front of you.
  • How much one small number moves the answer, and how to use it without fooling yourself.

Figures from Amazon's FY2025 annual report; share price as of 6 Nov 2026. The forecast is one illustrative set of assumptions, not a price target. Educational only, not financial advice. Do your own research.