[clairity]

comps on ratios at best gives you first-order approximations of valuation, and the assumptions underlying the comp is both fixed snd hidden. DCF is more explicit about its assumptions and you can change as well as bound those assumptions with new information.

sure, it’s more unsettling to have a range than a single number but a range is as close to reality as we’re likely to get with any valuation (unless it’s a well-established company in a stable industry, where DCF can provide a tight answer).