Show uncapped historical FCF growth

2 files changed, 23 insertions, 5 deletions

diff --git a/components/valuation.py b/components/valuation.py
index 24405d6..4e2d003 100644
--- a/components/valuation.py
+++ b/components/valuation.py
@@ -30,6 +30,7 @@ from services.valuation_service import (
     run_ev_revenue,
     run_price_to_book,
     compute_historical_growth_rate,
+    compute_raw_historical_growth_rate,
 )
 from utils.formatters import fmt_ratio, fmt_pct, fmt_large, fmt_currency
 
@@ -337,6 +338,7 @@ def _build_model_context(ticker: str) -> dict:
 
     base_fcf = _coerce_float(get_free_cash_flow_ttm(ticker))
     hist_growth = compute_historical_growth_rate(fcf_series) if len(fcf_series) >= 2 else None
+    hist_growth_raw = compute_raw_historical_growth_rate(fcf_series) if len(fcf_series) >= 2 else None
     ebitda = _coerce_float(ratios_data.get("ebitdaTTM"))
     revenue_ttm = _coerce_float(get_revenue_ttm(ticker))
     if revenue_ttm is None or revenue_ttm <= 0:
@@ -435,6 +437,7 @@ def _build_model_context(ticker: str) -> dict:
         "fcf_series": fcf_series,
         "base_fcf": base_fcf,
         "hist_growth": hist_growth,
+        "hist_growth_raw": hist_growth_raw,
         "ebitda": ebitda,
         "revenue_ttm": revenue_ttm,
         "book_value_per_share": book_value_per_share,
@@ -473,7 +476,9 @@ def _render_dcf_model(ctx: dict):
     st.markdown("**Discounted Cash Flow (DCF)**")
 
     hist_growth = ctx["hist_growth"]
+    hist_growth_raw = ctx["hist_growth_raw"]
     hist_growth_pct = hist_growth * 100 if hist_growth is not None else 5.0
+    hist_growth_raw_pct = hist_growth_raw * 100 if hist_growth_raw is not None else hist_growth_pct
     slider_default = float(max(-20.0, min(30.0, hist_growth_pct)))
 
     st.caption(
@@ -515,11 +520,11 @@ def _render_dcf_model(ctx: dict):
             max_value=30.0,
             value=round(slider_default, 1),
             step=0.5,
-            help=f"Historical median: {hist_growth_pct:.1f}%. Drag to override.",
+            help=f"Historical median: {hist_growth_raw_pct:.1f}%. Drag to override.",
             key=f"dcf_growth_{ctx['ticker']}",
         )
 
-    st.caption(f"Historical FCF growth (median): **{hist_growth_pct:.1f}%**")
+    st.caption(f"Historical FCF growth (median): **{hist_growth_raw_pct:.1f}%**")
 
     result = run_dcf(
         fcf_series=ctx["fcf_series"],
diff --git a/services/valuation_service.py b/services/valuation_service.py
index 1230aa5..0b8dfde 100644
--- a/services/valuation_service.py
+++ b/services/valuation_service.py
@@ -12,9 +12,9 @@ def _cap_growth(value: float) -> float:
     return max(GROWTH_FLOOR, min(GROWTH_CAP, float(value)))
 
 
-def compute_historical_growth_rate(fcf_series: pd.Series) -> float | None:
+def _compute_median_historical_growth_rate(fcf_series: pd.Series) -> float | None:
     """
-    Return a capped median YoY FCF growth rate from historical data.
+    Return the raw median YoY FCF growth rate from historical data.
 
     Notes:
     - skips periods with near-zero prior FCF
@@ -40,7 +40,20 @@ def compute_historical_growth_rate(fcf_series: pd.Series) -> float | None:
     if not growth_rates:
         return None
 
-    return _cap_growth(float(np.median(growth_rates)))
+    return float(np.median(growth_rates))
+
+
+def compute_historical_growth_rate(fcf_series: pd.Series) -> float | None:
+    """Return a capped median YoY FCF growth rate from historical data."""
+    raw_growth = _compute_median_historical_growth_rate(fcf_series)
+    if raw_growth is None:
+        return None
+    return _cap_growth(raw_growth)
+
+
+def compute_raw_historical_growth_rate(fcf_series: pd.Series) -> float | None:
+    """Return the uncapped median YoY FCF growth rate from historical data."""
+    return _compute_median_historical_growth_rate(fcf_series)
 
 
 def run_dcf(