You would be correct if the only thing that drove the price of a stock was current cash flows. What you are leaving out is growth. Stock prices include expect

You would be correct if the only thing that drove the price of a stock was current cash flows. What you are leaving out is growth. Stock prices include expected growth of future profits which by no means is a science. Not to mention all kinds of other things can affect a stock price such as global macroeconomic conditions, interest rates, etc...