DCF Valuation Tree

digraph dcf {
  rankdir=BT;
  graph [bgcolor=transparent];
  node [shape=box, style="rounded,filled", fontname=Inter, fontsize=10, fillcolor="#dbeafe"];

  EV [label="Enterprise Value", fillcolor="#dcfce7"];
  PV [label="Σ PV(FCF)\nyears 1-5"];
  TV [label="PV(Terminal Value)"];
  FCF [label="FCF_t"];
  WACC [label="WACC discount"];
  Rev [label="Revenue"];
  Marg [label="EBIT margin"];
  Tax [label="× (1 - tax)"];
  CapEx [label="- CapEx"];
  WCC [label="- ΔWC"];
  g [label="Terminal growth g"];

  FCF -> PV;
  PV -> EV; TV -> EV;
  Rev -> FCF; Marg -> FCF; Tax -> FCF; CapEx -> FCF; WCC -> FCF;
  WACC -> PV; WACC -> TV; g -> TV;
}