DCF Undervaluation Gap

A discounted‑cash‑flow (DCF) model projects an intrinsic value of roughly $37.87–$38 per share. According to the model, the shares trade 44.8% below this DCF value and 44.6% undervalued relative to the current market price, suggesting a wide gap between the market’s price and what future free cash flows imply. The valuation gap underscores that the stock’s high P/S multiple may not fully account for the cash‑flow projections that underpin investor expectations of the club’s ability to monetize its global brand into steady cash flows.