The value of a company equals the discounted present value of all future free cash flows. Here is the formula for calculating value (noting that the growth rate must be less than the discount rate for the formula to work):
V = Value
FCF = Free Cash Flows
k = discount rate
g = growth rate
In words, the value of the company is the free cash flow projected for the next year, divided by the difference between the discount rate and the growth rate.