Cracker Barrel Old Country Store, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $95M normalized FCF base (FY2026 actual ~$91M, a turnaround year with a GAAP operating loss but positive cash flow); 4% growth years 1-5 (early brand turnaround); 2% years 6-10; 10% discount rate (execution risk); 1.5% terminal growth; $300.7M net debt (company-reported funded debt, excluding store operating leases); 22.5M diluted shares.

Reasoning: Cracker Barrel is a mature, slow-unit-growth concept mid-way through an operational and brand turnaround with volatile recent GAAP results; using actual cash FCF rather than the noisy GAAP operating loss, with conservative growth and an elevated discount rate for execution risk, gives the most grounded estimate.