Discounted Cash Flow — intrinsic valuation that sums the present value of projected unlevered free cash flows plus a terminal value, discounted at WACC: EV = sum_t=1^n (UFCF_t)/((1+WACC)^t) + (TV)/((1+WACC)^n). Terminal value (Exit Multiple or Perpetuity Growth) typically represents 60-80% of total EV, making TV assumptions the single most impactful input. Strength: theoretically rigorous; weakness: highly sensitive to WACC, growth, and exit-multiple assumptions.