EODHD Academy

DCF & Intrinsic Value

Intrinsic value from first principles — forecast cash flow, discount it, and see how your assumptions, not the market, drive the answer.

4 units · 16 lessons · 61 min read · plus hands-on practice, at your pace

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What is a company actually worth, apart from its price?

The Idea of Intrinsic Value · 4 min read · practitioner

Start the first lesson

Unit 1 The Idea of Intrinsic Value

  1. What is a company actually worth, apart from its price? 4 min
  2. What is a future euro worth today, and why does it matter for stocks? 3 min
  3. Which cash flow do we value — the firm's or the shareholder's? 5 min
  4. Is a DCF a crystal ball, or a mirror for your assumptions? 3 min
Practice Check · Unit 1 A short check · cannot be failed Start

Unit 2 Forecasting Cash Flows

  1. How do you turn financial statements into free cash flow? 6 min
  2. How do you forecast the next few years of cash without pretending to know the future? 4 min
  3. How do you tell an honest forecast from wishful thinking? 3 min
  4. What does a full free-cash-flow forecast look like end to end? 3 min
Practice Check · Unit 2 A short check · cannot be failed Start

Unit 3 Discount Rate & Terminal Value

  1. What return should you demand — and where does it come from? 5 min
  2. How do you blend the cost of debt and equity into one discount rate? 4 min
  3. How do you value everything after your forecast ends? 3 min
  4. How do the pieces come together into one intrinsic value? 5 min
Practice Check · Unit 3 A short check · cannot be failed Start

Unit 4 Sensitivity & Humility

  1. How much does the answer move when one assumption changes? 3 min
  2. How do you present a value you're honestly unsure about? 3 min
  3. Why do careful investors demand a margin of safety? 3 min
  4. What have you actually learned about intrinsic value? 4 min
Practice Check · Unit 4 A short check · cannot be failed Start

Last Course exam

One exam, the whole course Unlocks when you have read all 16 lessons

Passing it earns the course certificate. It also counts toward the Analyst track (course 4 of 8): pass every course exam in a track to earn its track certificate.