Kanzhun Limited

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $550M normalized FCF base (approximate, between reported TTM FCF of ~$634M and a more conservative run-rate); 6% annual FCF growth years 1-5; 3% years 6-10; 14% discount rate reflecting elevated China/ADR risk premium (regulatory and capital-repatriation risk); 2% terminal growth; ~$2.86B net cash (20.7B CNY converted at ~7.25 CNY/USD); 447.10M shares outstanding.

Reasoning: Kanzhun (BOSS Zhipin) is a highly cash-generative, asset-light two-sided recruitment marketplace with a very large net cash position relative to market cap, so a standard FCF DCF is appropriate, but with a materially elevated discount rate versus a comparable US internet platform to reflect the added regulatory, geopolitical and capital-control risks associated with Chinese ADRs.