DCF Sensitivity Usage: Accuracy Benchmarks (2026)
2026-01-21
Technical
Research
Data
• 1 min readAggregated data shows how often candidates use DCF sensitivities and how it impacts accuracy, plus a simple sensitivity checklist for interviews and cases.
What this dataset is
Benchmarks below are based on anonymized, aggregated DCF practice attempts and answer reviews. Use them as directional guidance.
Sample and method
- n=18,640 DCF walkthrough attempts
- Accuracy scored on steps, math logic, and assumptions
- Sensitivity usage tracked as none, one-way, or two-way
Sensitivity usage vs accuracy
| Sensitivity usage | Accuracy rate | Common miss |
|---|---|---|
| None | 49% | Terminal value mismatch |
| One-way (WACC or g) | 57% | Inconsistent assumptions |
| Two-way (WACC x g) | 63% | Bridge errors to equity value |
Sensitivity checklist
- State a base case range for WACC and terminal growth
- Check value per share at two extremes
- Explain which driver matters most and why
Related: Walk Me Through a DCF and SBC in DCF.
External references: NYU Stern valuation resources and CFA Institute programs.