Vnitřní hodnota
Intrinsic Value · Fundamental Value
The true fundamental value of a company or stock, estimated from future cash flows — independent of the current market price.
What it is
Intrinsic value is the answer to the question: how much would a rational investor pay for a company if they knew all its future cash flows?
Most often estimated using the DCF method. The result is a price per share that reflects fundamentals — not market sentiment, trends, or speculation.
If the market price is below intrinsic value → the stock is potentially undervalued. If the market price is above intrinsic value → the stock is potentially overvalued.
Why track it
Comparing intrinsic value to market price is the heart of value investing. The goal is to buy quality companies when the market price is below intrinsic value — with an adequate safety buffer (Margin of Safety).
Real-world example
Microsoft April 2026:
- →Base DCF: $376/share
- →Market price: $382/share
- →Conclusion: the market is pricing Microsoft exactly at the base scenario — no significant discount or premium.