Fair value calculator.
We’ll do the math.

Plenty of sites use the two words as if they mean one thing. We do not. They are worked out two different ways, and your report shows both, on their own lines.

Intrinsic value starts with cash. Take the cash the business throws off after it pays to keep itself running. Project that out ten years, discount every year back to today, and add what the business is still worth at the end. No opinion about the market enters it.

Fair value starts with earnings. Grow this year’s earnings per share out ten years, apply a multiple to what the company earns by then, and discount that future price back to today. It asks what a share would reasonably sell for later, and works backwards.

Two roads, two numbers. When they land close together, the picture is consistent. When they are far apart, that gap is worth reading, and it usually means earnings and cash flow are telling different stories.

Neither one is a buy price. Both are estimates of what a business is worth. The market price is a separate thing again. It is what someone will pay today, and the gap between worth and price is where a value investor works.

Four numbers, not one. One estimate is an opinion. Four of them, built from different parts of the filings, is information.

The growth rate behind the projections is the company’s own ten year record, not a guess and not a forecast we like the look of. It is capped at 15% no matter how fast the last decade ran. Your report also shows what analysts expect, side by side, so you can see where the two disagree. The analyst figure is shown, never used.

Intrinsic value discounts owner earnings, the way described above.

Fair value grows earnings and discounts the future price back. This is the number the margin of safety comes off. You do not pay fair value. You wait for a price well below it, so you have room to be wrong. We take half. Being roughly right and paying too much is still losing money.

Owner earnings value asks a simpler question. If you bought the whole business outright, would the cash it throws off pay you a 10% return? That gives a third price.

Cash payback price asks how long the company’s cash flow would take to pay back what you paid for it. Eight years is the mark. That gives a fourth.

Three of those are prices you might pay: fair value with the margin of safety taken off, the owner earnings value, and the cash payback price. They rarely agree, and they are not averaged. The buy zone opens at the highest of the three, because a price under any one of them stands on its own.

There is a guard on top of that. If those three run too far ahead of fair value, fair value wins and the buy zone comes back down to it. The most optimistic method never gets to set the price by itself.

The four numbers above are easier to judge against a business you already know. We ran Apple through the same method, using its FY2025 filings, and showed every figure: the fair value, the price the margin of safety implies, the owner earnings value, the cash payback price, and where that leaves the buy zone against what the stock actually trades at.

Read the Apple walk-through, then put your own ticker in the box above and get the same thing for a company you care about.

Every company we cover gets four zones: buy, watch, hold, sell.

The zones come from the numbers above. Buy opens at the highest of the three buy prices. Watch covers the 20% above that. Sell starts once a price reaches 150% of fair value. The app works the boundaries out and flags when a price crosses one. You never set them by hand, and neither do we.

There is one case with no buy band at all. When a company’s own growth record is too weak for the earnings projection to mean anything, the report says so instead of printing a number that looks precise and is not.

What you do with that is your call. The math tells you what a price implies. It does not tell you what to do about it.

One company, all of it.

Intrinsic value and fair value, worked out separately. The margin of safety price. Owner earnings value and cash payback price. Quality score, plus the moat score and the management score it averages. Ten year growth record covering sales, earnings, equity and cash flow, with return on invested capital at five different lengths. Current price zone.

Free. No card. About a minute.

You can. Plenty of good investors do, and the arithmetic is not hard.

The problem is not the math. It is doing the same math the same way on the fortieth company as you did on the first, a year later, without quietly nudging a number because you like the business.

That is the whole job here. Same method, same inputs, every company, every time.