Because the cash that can flow from a business is not an annuity and instead is based on a number of fundamental factors that are impossible to predict with certainty, determining the value of a business is an art and not a science. Almost every investor will have a slightly different way of determining the intrinsic value of a business, and there is nothing inherently wrong with that fact. For this reason, it is best to think about intrinsic value as falling within a range rather than an exact figure.
