Fastly, Inc.

AI-generated fair value estimate for this company.

Method: Two-stage unlevered FCF DCF: FCF base $50.68M (TTM) grown 25% in year 1 (to $63.4M) then 20%/yr years 1-5, 10%/yr years 6-10 (deceleration as security-product growth matures), terminal growth 3%, WACC 9.5%; less net debt of $60.8M (cash $337.5M, total debt $398.29M)

Reasoning: Fastly is not yet GAAP profitable but generates positive free cash flow (TTM FCF $50.68M) with accelerating revenue growth (TTM +20.4%, Q2 2026 +23.3% driven by security products) and raised FY2026 guidance; DCF value of ~$2.07B is meaningfully below the ~$4.11B market cap, implying the market is pricing a faster path to durable double-digit FCF growth and margin expansion than this base case assumes