Compass, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $700M pro-forma normalized FCF base (post Christie's International/@properties combination, annualizing ~$191M quarterly operating cash flow less modest capex); 6% annual FCF growth for years 1-5; 4% for years 6-10; 10% discount rate; 2.5% terminal growth; $3.415B net debt subtracted; 757.52M shares outstanding.

Reasoning: Compass roughly doubled scale through 2025-2026 acquisitions and management guided to FY26 free-cash-flow positive; because the brokerage model runs on thin net commission margins, a FCF DCF anchored to the newly combined cost structure (rather than trailing GAAP losses) best reflects intrinsic value, and the 10% discount rate reflects housing-market cyclicality and integration execution risk.