> ## Documentation Index > Fetch the complete documentation index at: https://docs.sterlinglabs.co/llms.txt > Use this file to discover all available pages before exploring further. # What the market is pricing in > See the growth, earnings path, valuation multiple and time horizon today's share price assumes, then test your own price target against it. ## What Priced In shows you * **Market view** and **Custom analysis** — the market's assumptions, or a scenario of your own. * **Summary figures** — the implied P/E, the horizon, and the revenue and net-income growth today's price requires, with how likely that growth looks. * **Revenue Expectations** — reported revenue extended into the implied forecast, with the market's revenue thesis and the peer comparison. * **Net Income Expectations** — the implied earnings path against history, with the earnings thesis and the exit multiple. * **Snapshots** — earlier readings, to see how expectations have shifted as the price moved. ## Where to find it Open the company, then select **Priced In** under its name in the left-hand navigation. ## Using Priced In ### Read what's priced in today **Market view** opens by default. Start with the summary figures at the top: **Implied LTM P/E**, the **Market-implied horizon**, and the **Revenue CAGR** and **Net income CAGR** the price requires. A bar under each growth figure shows how likely it looks. A high implied P/E and a long horizon mean the market is underwriting a lot. In **Revenue Expectations** and **Net Income Expectations**, compare the forecast part of each chart with the company's history. Growth well above what it has done before is a large bet. Hover the **Market thesis**, **Comparison to peers**, **Earnings thesis** and **Exit multiple forecast** notes for **Read in analyst**, and select one for the fuller explanation in [the Analyst](/analyst/what-is-the-analyst). ### See how expectations have moved Use **Previous snapshot** and **Next snapshot**, or **Choose snapshot date** to pick a date from the calendar. Only dates with a snapshot can be selected. The top bar shows the **Price then** and how far it is from today's price, so you can see what the market assumed at that price. ### Test your own view 1. Switch to **Custom analysis**. 2. Choose **Custom price target** or **Target IRR**, enter your number, and pick the **Time period** the thesis plays out in. 3. Select **Calculate**. A full analysis runs, which can take up to about a minute. The results show what your scenario requires: the revenue and earnings growth it implies, the valuation multiple and how it compares with peers, and how likely that growth looks. While your scenario is showing, the snapshot controls are hidden. Switch back to **Market view** to return to the market's assumptions. ## Frequently asked questions ### The page says there's no analysis for this company. Sterling hasn't produced a priced-in view for that company yet. Its overview and research pages still work. ### How is Priced In different from the price target? Sterling's price target is Sterling's view of where the stock should go. Priced In works the other way: it shows what the *current* price implies the market believes. Comparing the two is often where the interesting disagreements are. ### What do Revenue CAGR and the horizon mean? **Revenue CAGR** is the compound annual revenue growth the current price implies. The **Market-implied horizon** is how many years of that growth the price assumes. Together with the exit multiple, they're the assumptions that make today's price fair. ### Does the custom scenario change anything else? No. It's a what-if on this page only. The market view and snapshots are unchanged when you switch back. ## Related articles * [Researching a company](/companies/researching-a-company) * [Comparing a company with its peers](/companies/comparing-with-peers) * [Reading Sterling's research on a company](/companies/reading-a-research-report) This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.