This is my first attempt at doing a DCF, I attempted to use a fairly simple method, with projected numbers that I could come up with using the best of my knowledge of Lulu as a company. Data was provided by yahoo finance, but projections out to the future were completely assumed by me. The overall verdict was that Lulu is fairly valued at around 381, and that investors should be aware that paying more than that could very well mean they are paying a premium. On the other hand, some investors may not be worried as they may have more bullish outlook than I on the balance sheet for the company.