Purpose - This paper sets out to look at "calculation of worth" as it relates to valuations. Design/methodology/approach - A number of pricing models and valuation methods are analysed. Forecasting is also considered. Findings - It is possible to adapt the discounted cash flow (DCF) method to incorporate subjective predicted growth rates. In the case of a rack-rented freehold, the DCF method produces the same value as the traditional method. Originality/value - This paper looks at "testing the assumptions".