AllianceBernstein Holding L.P.

AI-generated fair value estimate for this company.

Method: 10-year two-stage distributable-cash-flow DCF: $313.9M TTM FCF base, closely tracking AB Holding's pass-through net income from its AllianceBernstein L.P. interest; 5% growth years 1-5; 3.5% years 6-10; 9% discount rate; 3% terminal growth; approximately $0 net debt at the Holding-company level; 93.08M units outstanding.

Reasoning: AB Holding's sole asset is its limited partnership interest in AllianceBernstein L.P., and its cash flow passes through almost entirely as distributable cash, so a DCF on that distributable cash flow is the natural method; growth assumptions reflect expected AUM and fee growth across AB's asset-management platform.