The document discusses the discounted cash flow (DCF) valuation method. DCF values a business based on projections of its future free cash flows discounted back to the present. It involves estimating future cash flows, determining an appropriate discount rate, and calculating a terminal value. DCF is an income-based approach that values a company based on its expected future profitability rather than its current assets or market value. The document outlines the DCF calculation process and considerations like growth projections, business cycles, capital expenditures, and taxes that go into the valuation.