This article presents the finite valuation model (FVM), a rigorous mathematical formula for valuing a firm. This new approach, fully consistent with the free cash flow methodology, avoids the problems associated with terminal values. Since firms do not stay in business and generate excess returns indefinitely, FVM limits the time interval for earning such returns and ties valuation to the internal rate of return. The formula also works correctly when the growth rate equals or temporarily exceeds the cost of capital. Due to these and other advantages, FVM can relatively quickly provide a better estimate of firm value than many elaborate spreadsheets.