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How to write an excellent thesis conclusion [with examples]

At this point in your writing, you have most likely finished your introduction and the body of your thesis, dissertation, or research paper . While this is a reason to celebrate, you should not underestimate the importance of your conclusion. The conclusion is the last thing that your reader will see, so it should be memorable.

A good conclusion will review the key points of the thesis and explain to the reader why the information is relevant, applicable, or related to the world as a whole. Make sure to dedicate enough of your writing time to the conclusion and do not put it off until the very last minute.

This article provides an effective technique for writing a conclusion adapted from Erika Eby’s The College Student's Guide to Writing a Good Research Paper: 101 Easy Tips & Tricks to Make Your Work Stand Out .

While the thesis introduction starts out with broad statements about the topic, and then narrows it down to the thesis statement , a thesis conclusion does the same in the opposite order.

• Restate the thesis.
• Review or reiterate key points of your work.
• Explain why your work is relevant.
• Include a core take-away message for the reader.
• Restate the thesis

Tip: Don’t just copy and paste your thesis into your conclusion. Restate it in different words.

The best way to start a conclusion is simply by restating the thesis statement. That does not mean just copying and pasting it from the introduction, but putting it into different words.

You will need to change the structure and wording of it to avoid sounding repetitive. Also, be firm in your conclusion just as you were in the introduction. Try to avoid sounding apologetic by using phrases like "This paper has tried to show..."

The conclusion should address all the same parts as the thesis while making it clear that the reader has reached the end. You are telling the reader that your research is finished and what your findings are.

I have argued throughout this work that the point of critical mass for biopolitical immunity occurred during the Romantic period because of that era's unique combination of post-revolutionary politics and innovations in smallpox prevention. In particular, I demonstrated that the French Revolution and the discovery of vaccination in the 1790s triggered a reconsideration of the relationship between bodies and the state.

• Review or reiterate key points of your work

Tip: Try to reiterate points from your introduction in your thesis conclusion.

The next step is to review the main points of the thesis as a whole. Look back at the body of of your project and make a note of the key ideas. You can reword these ideas the same way you reworded your thesis statement and then incorporate that into the conclusion.

You can also repeat striking quotations or statistics, but do not use more than two. As the conclusion represents your own closing thoughts on the topic , it should mainly consist of your own words.

In addition, conclusions can contain recommendations to the reader or relevant questions that further the thesis. You should ask yourself:

• What you would ideally like to see your readers do in reaction to your paper?
• Do you want them to take a certain action or investigate further?
• Is there a bigger issue that your paper wants to draw attention to?

Also, try to reference your introduction in your conclusion. You have already taken a first step by restating your thesis. Now, check whether there are other key words, phrases or ideas that are mentioned in your introduction that fit into your conclusion. Connecting the introduction to the conclusion in this way will help readers feel satisfied.

I explored how Mary Wollstonecraft, in both her fiction and political writings, envisions an ideal medico-political state, and how other writers like William Wordsworth and Mary Shelley increasingly imagined the body politic literally, as an incorporated political collective made up of bodies whose immunity to political and medical ills was essential to a healthy state.

• Explain why your work is relevant

Tip: Make sure to explain why your thesis is relevant to your field of research.

Although you can encourage readers to question their opinions and reflect on your topic, do not leave loose ends. You should provide a sense of resolution and make sure your conclusion wraps up your argument. Make sure you explain why your thesis is relevant to your field of research and how your research intervenes within, or substantially revises, existing scholarly debates.

This project challenged conventional ideas about the relationship among Romanticism, medicine, and politics by reading the unfolding of Romantic literature and biopolitical immunity as mutual, co-productive processes. In doing so, this thesis revises the ways in which biopolitics has been theorized by insisting on the inherent connections between Romantic literature and the forms of biopower that characterize early modernity.

• A take-away for the reader

Tip: If you began your thesis with an anecdote or historical example, you may want to return to that in your conclusion.

End your conclusion with something memorable, such as:

• a call to action
• a recommendation
• a gesture towards future research
• a brief explanation of how the problem or idea you covered remains relevant

Ultimately, you want readers to feel more informed, or ready to act, as they read your conclusion.

Yet, the Romantic period is only the beginning of modern thought on immunity and biopolitics. Victorian writers, doctors, and politicians upheld the Romantic idea that a "healthy state" was a literal condition that could be achieved by combining politics and medicine, but augmented that idea through legislation and widespread public health measures. While many nineteenth-century efforts to improve citizens' health were successful, the fight against disease ultimately changed course in the twentieth century as global immunological threats such as SARS occupied public consciousness. Indeed, as subsequent public health events make apparent, biopolitical immunity persists as a viable concept for thinking about the relationship between medicine and politics in modernity.

• More resources on writing thesis conclusions

Need more advice? Read our 5 additional tips on how to write a good thesis conclusion.

• Frequently Asked Questions about writing an excellent thesis conclusion

The conclusion is the last thing that your reader will see, so it should be memorable. To write a great thesis conclusion you should:

The basic content of a conclusion is to review the main points from the paper. This part represents your own closing thoughts on the topic. It should mainly consist of the outcome of the research in your own words.

The length of the conclusion will depend on the length of the whole thesis. Usually, a conclusion should be around 5-7% of the overall word count.

End your conclusion with something memorable, such as a question, warning, or call to action. Depending on the topic, you can also end with a recommendation.

In Open Access: Theses and Dissertations you can find thousands of completed works. Take a look at any of the theses or dissertations for real-life examples of conclusions that were already approved.

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• Conclusions

One of the most common questions we receive at the Writing Center is “what am I supposed to do in my conclusion?” This is a difficult question to answer because there’s no one right answer to what belongs in a conclusion. How you conclude your paper will depend on where you started—and where you traveled. It will also depend on the conventions and expectations of the discipline in which you are writing. For example, while the conclusion to a STEM paper could focus on questions for further study, the conclusion of a literature paper could include a quotation from your central text that can now be understood differently in light of what has been discussed in the paper. You should consult your instructor about expectations for conclusions in a particular discipline.

With that in mind, here are some general guidelines you might find helpful to use as you think about your conclusion.  

Begin with the “what”  

In a short paper—even a research paper—you don’t need to provide an exhaustive summary as part of your conclusion. But you do need to make some kind of transition between your final body paragraph and your concluding paragraph. This may come in the form of a few sentences of summary. Or it may come in the form of a sentence that brings your readers back to your thesis or main idea and reminds your readers where you began and how far you have traveled.

So, for example, in a paper about the relationship between ADHD and rejection sensitivity, Vanessa Roser begins by introducing readers to the fact that researchers have studied the relationship between the two conditions and then provides her explanation of that relationship. Here’s her thesis: “While socialization may indeed be an important factor in RS, I argue that individuals with ADHD may also possess a neurological predisposition to RS that is exacerbated by the differing executive and emotional regulation characteristic of ADHD.”

In her final paragraph, Roser reminds us of where she started by echoing her thesis: “This literature demonstrates that, as with many other conditions, ADHD and RS share a delicately intertwined pattern of neurological similarities that is rooted in the innate biology of an individual’s mind, a connection that cannot be explained in full by the behavioral mediation hypothesis.”  

Highlight the “so what”  

At the beginning of your paper, you explain to your readers what’s at stake—why they should care about the argument you’re making. In your conclusion, you can bring readers back to those stakes by reminding them why your argument is important in the first place. You can also draft a few sentences that put those stakes into a new or broader context.

In the conclusion to her paper about ADHD and RS, Roser echoes the stakes she established in her introduction—that research into connections between ADHD and RS has led to contradictory results, raising questions about the “behavioral mediation hypothesis.”

She writes, “as with many other conditions, ADHD and RS share a delicately intertwined pattern of neurological similarities that is rooted in the innate biology of an individual’s mind, a connection that cannot be explained in full by the behavioral mediation hypothesis.”  

Leave your readers with the “now what”  

After the “what” and the “so what,” you should leave your reader with some final thoughts. If you have written a strong introduction, your readers will know why you have been arguing what you have been arguing—and why they should care. And if you’ve made a good case for your thesis, then your readers should be in a position to see things in a new way, understand new questions, or be ready for something that they weren’t ready for before they read your paper.

In her conclusion, Roser offers two “now what” statements. First, she explains that it is important to recognize that the flawed behavioral mediation hypothesis “seems to place a degree of fault on the individual. It implies that individuals with ADHD must have elicited such frequent or intense rejection by virtue of their inadequate social skills, erasing the possibility that they may simply possess a natural sensitivity to emotion.” She then highlights the broader implications for treatment of people with ADHD, noting that recognizing the actual connection between rejection sensitivity and ADHD “has profound implications for understanding how individuals with ADHD might best be treated in educational settings, by counselors, family, peers, or even society as a whole.”

To find your own “now what” for your essay’s conclusion, try asking yourself these questions:

• What can my readers now understand, see in a new light, or grapple with that they would not have understood in the same way before reading my paper? Are we a step closer to understanding a larger phenomenon or to understanding why what was at stake is so important?  
• What questions can I now raise that would not have made sense at the beginning of my paper? Questions for further research? Other ways that this topic could be approached?  
• Are there other applications for my research? Could my questions be asked about different data in a different context? Could I use my methods to answer a different question?  
• What action should be taken in light of this argument? What action do I predict will be taken or could lead to a solution?  
• What larger context might my argument be a part of?  

What to avoid in your conclusion  

• a complete restatement of all that you have said in your paper.  
• a substantial counterargument that you do not have space to refute; you should introduce counterarguments before your conclusion.  
• an apology for what you have not said. If you need to explain the scope of your paper, you should do this sooner—but don’t apologize for what you have not discussed in your paper.  
• fake transitions like “in conclusion” that are followed by sentences that aren’t actually conclusions. (“In conclusion, I have now demonstrated that my thesis is correct.”)
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Writing Your Thesis Conclusion Section: Making the last impression count

A thesis conclusion is the final section of a master’s or a Ph.D. thesis that summarizes the main findings of the research and presents the researcher's conclusions and recommendations. This section aims to provide a concise and comprehensive overview of the research, highlighting the key contributions and significance of the study. A thesis conclusion should also address the research questions or hypotheses and explain how the findings relate to the broader field of study. Overall, a thesis conclusion serves as a critical component of the thesis, showcasing the researcher's ability to synthesize and communicate complex information effectively.

This article describes the importance of your thesis conclusion section. It covers the details on how to write a thesis conclusion section and the final steps required after you have written this section.

What is the thesis conclusion section?

It is a summary of the thesis, highlighting the importance of the thesis study and how it stands in the context of the field of research.

The conclusion section is the final part of your thesis/dissertation. It is a summary of the thesis, highlighting the importance of the thesis study and how it stands in the context of the field of research.

The discussion and conclusion sections are usually written as separate chapters. However, they may be written as a single section in some fields. If you are unsure which structure to use, ask your supervisor for guidance and check the requirements of your academic institution.

What should the thesis conclusion section include?

• An explanation of how your findings have helped to solve a problem and contributed to the knowledge in your field of research (refer back to your thesis question)
• An explanation of how your findings have contributed to a gap in knowledge (refer back to your  literature review )
• A discussion of how your findings fall within existing theories or assumptions in your field of research. Do they confirm or challenge them?
• A discussion of the limitations of your thesis study (if already mentioned in the discussion section, highlight only the important limitations in the conclusion section)
• Recommendations for practical applications of your findings and future investigations (if already mentioned in the discussion section, highlight only the key recommendations in the conclusion section)

End your conclusion with something memorable, such as a question, warning, or call to action.

We cannot afford further devastating and unnecessary deaths. The training of first responders on how to deal with a nuclear accident should be implemented immediately.

What should I avoid in the conclusion section of my thesis?

• Don’t underestimate the importance of your conclusion by treating it as an afterthought. It is a crucial section of your thesis study that incorporates the key results into a final takeaway message that the reader will remember.
• Don’t exaggerate the contributions of your research. Be realistic, and link your contribution back to existing literature.
• Don’t include new data, interpretations, or arguments.
• Don’t restate the results. Instead, incorporate the key findings into a final takeaway message for the reader.
• Avoid phrases like “To conclude…” or “In conclusion….” if the conclusion section is a chapter that is separate from the discussion. Your reader knows which section they are looking over.

Writing a great thesis conclusion section

When writing your thesis conclusion, consider what you would like the reader to remember if this was the only section of your thesis they read.

The thesis conclusion section must be able to stand alone as a separate entity from the other sections of your study. When writing your thesis conclusion, consider what you would like the reader to remember if this was the only section of your thesis they read. Thesis examiners often look at the abstract, introduction, and conclusion sections to gain an overall impression of your thesis study before delving into the other sections.

A great thesis conclusion section leaves the reader with a clear understanding of the main argument or discovery that resulted from your thesis study. It reminds them why you chose your particular approach, what you expected to find, and whether the findings met your expectations.

It is essential to highlight the relevance of your thesis study in the conclusion section so that the readers will be engaged and perhaps consider taking up one of your recommendations or collaborating with you on further research in your field of study.

The Sciences domain usually includes quantitative research, while the Humanities and Social Sciences(HSS) domain usually includes qualitative research. Therefore, the structure of the conclusion section is slightly different for each area.

Steps to writing a thesis conclusion section in the Sciences domain

• Restate and answer your thesis question

By evaluating the response to the Fukushima Daiichi nuclear disaster in 2011, we demonstrated that there was an insufficient number of adequately trained first responders.

• Summarize your findings .

This study demonstrates that ABC affects DEF but raises fundamental questions about the role of GHI.

• Explain or suggest the reasons for your thesis findings.

The significant relationship observed between ABC and JKL (p < 0.001) could be due to the synergistic effect of MNO on JKL.

• Explain the contributions of your study to the field.

This is the first report of Species X in Central Africa. Prior to this, Species X has only been observed in Northern Africa.

• Explain the limitations of your study.

Because the response rate to our questionnaire was only 19%, the significance of our findings may not be generalizable to the general population.

• Mention recommendations for practical applications and further research.

Further large-scale studies are suggested to confirm the association between ABC and JKL.

Steps to writing a thesis conclusion section in the HSS domain

• Restate the study purpose and findings.

This research aimed to…

• Summarize the relationship with previous research.

These findings concurred with those of...

• Discuss the limitations of your study/anticipation of criticism.

I have only addressed the role of… It must be stressed that I deliberately did not…

• Discuss problems that occurred when performing your research.

We were unable to e-mail the questionnaire to all of the selected participants because some of the addresses no longer existed.

• Mention the implications of your findings.

Our findings suggest that ABC may be a vital contributor to DEF.

• Make recommendations according to your study findings.

Future research into ABC is essential to confirm…

• Mention the contribution of your research to the field of study.

These findings provide an alternative theory to that proposed by…

• Give an autobiographical reflection.

While undertaking this research, I gained valuable insight into… This thesis study has prompted me to…

Study limitations

If you didn’t mention the limitations of your study in the  discussion section , they must be included in the conclusion section. When discussing your study limitations, first identify them, then explain their impact on your study, and finally suggest how they could be addressed in future investigations. These three steps will help you to demonstrate the weaknesses of your study without undermining the value and integrity of your research.

Examples of study limitations: sample size, differences in methods used for data collection or analysis, study type (e.g., retrospective vs. prospective), inclusion/exclusion criteria of the study population, and effects of confounders Example study limitation statement: This was a single-institution study, and the results may not be generalizable to populations in rural areas…

Recommendations arising from your study findings

If you didn’t mention recommendations arising from your study findings in the discussion section of your thesis study, they must be included in the conclusion section. Don’t exaggerate the contributions or significance of your findings.

Recommendations should consider the relevance of your findings for further investigations or how your findings could be extended to other academic or real-world settings and practices. This could include:

• Addressing questions related to your study that remain unanswered

Because the cause of the association remains unelucidated, this should be the topic of future studies

• Suggesting a logical progression of your research using concrete ideas

Building on our findings that the number of staff trained to respond to a nuclear accident was inadequate, we suggest developing and rolling out a compulsory training program for all first responders.

• Suggesting future work based on the study limitations that you have identified

Future studies using a larger sample size from multiple sites are recommended to confirm the generalizability of our findings

Final steps after completing your thesis conclusion

• Write your thesis abstract. This is the ideal time to do so because you have just summarized the key points of your research in the conclusion section so that the information will be fresh in your mind.
• Complete and   format the reference list .
• Add an acknowledgments section thanking those who helped you (e.g., your supervisor, co-supervisors, and academic and support staff). Also, mention all organizations that provided funding for your thesis study and include the grant number, if applicable.
• Add any appendices.
• Add a list of abbreviations.
• Some institutions may require a list of figures and tables. Add this in if required.
• Create the table of contents .
• Create the title page. Check with your institution what elements are required and how the title page should be formatted.
• Some institutions require a declaration by the candidate stating that the work is original and that all sources have been cited. Check with your institution for specific requirements.
• Consider adding a dedication statement. For example, you may want to thank your spouse for their support.
• Proofread and edit your thesis. For professional thesis editing and thesis proofreading services, visit Enago Thesis Editing  for more information.

A thesis is the most important document you will write during your academic studies. For professional thesis editing and thesis proofreading services , visit  Enago Thesis Editing for more information.

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Have you answered the thesis question clearly and concisely?

Have you summarized the overall argument of the key message?

Have you mentioned the limitations of your thesis study?

Have you given recommendations for the next steps and future investigations?

Have you clearly explained how your research contributes to or addresses a gap in the knowledge of your subject area?

What are the differences between the discussion and conclusion sections in a thesis? +

The discussion section mentions specific results and interprets them in depth. On the other hand, the conclusion section makes general statements that summarize the most important insights stemming from your thesis study.

What is the recommended length of the thesis conclusion section? +

The thesis conclusion should be shorter than the discussion section. It typically comprises 5%–7% of the overall word count.

How does the introduction link to the conclusion section in a thesis? +

The introduction section poses the thesis question and explains the background to the problem. The conclusion section answers the thesis question by summarizing the topic and the research findings.

Free Download 📥

Dissertation/thesis conclusion template.

You’ve reached the final stretch of your dissertation – the conclusion chapter – but you’re unsure what you need to cover and in what order. Fear not – in this free conclusion chapter template , we provide a recommended structure and explain what you need to cover in each section, step by step (along with loads of examples). 

What’s Included:

This template covers all the core components required in the conclusion chapter of a typical dissertation, thesis or research project:

• The opening/overview section
• Summary of key findings
• Limitations
• Recommendations for future research
• Contribution
• Concluding summary

The purpose of each section is explained in plain language, followed by an overview of the key elements that you need to cover. The template also includes practical examples to help you understand exactly what’s required, along with links to additional free resources (articles, videos, etc.) to help you along your research journey.

The cleanly-formatted Word document is fully editable , so you can use it as-is for your dissertation or thesis, copy over the contents to a fresh document, or convert it to LaTeX.

PS – if you’d like a high-level template for the entire thesis, you can grab that here .

Need a helping hand?

Frequently Asked Questions

What format is the template (DOC, PDF, PPT, etc.)?

The conclusion chapter template is provided in a fully editable MS Word document (.DOCX format). Of course, you’re welcome to convert it to whatever format works best for you, including LaTeX or PDF. Feel free to adapt the template to suit your specific needs, especially any specific requirements required by your university.

What types of dissertations/theses can this be used for?

The conclusion chapter template follows the standard format for academic research projects, which means it will be suitable for the majority of dissertations, theses and research projects (especially those within the sciences).

Keep in mind that the exact requirements for the conclusion chapter/section will vary between universities and degree programs. For example, your university may require that the discussion chapter and conclusion chapter are merged into one (this is common for shorter projects). So, be sure to double-check your university’s requirements before you finalize your structure.

Is this template for an undergrad, Master or PhD-level thesis?

This template can be used for a dissertation, thesis or research project at any level of study. Doctoral-level projects typically require the a lengthier, more comprehensive conclusion, but the structure will typically remain the same. Again, be sure to check your university’s requirements and norms in terms of document structure.

How long should the conclusion chapter be?

This can vary a fair deal, depending on the level of study (undergrad, Master or Doctoral), the field of research, as well as your university’s specific requirements. Therefore, it’s best to check with your university or review past dissertations from your program to get an accurate estimate.

Can I share this template with my friends/colleagues? 

Yes, you’re welcome to share this template in its original format (no editing allowed). If you want to post about it on your blog or social media, please reference this page as your source.

Do you have templates for the other chapters?

Yes, we do. We are constantly developing our collection of free resources to help students complete their dissertations and theses. You can view all of our template resources here .

Can Grad Coach help me with my dissertation’s conclusion?

Yes, we can provide coaching-based assistance with your discussion chapter (or any other chapter). If you’re interested, get in touch to discuss our private coaching services .

Psst… there’s more (for free)

This post is part of our dissertation mini-course, which covers everything you need to get started with your dissertation, thesis or research project. 

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• How to Write a Thesis Statement | 4 Steps & Examples

How to Write a Thesis Statement | 4 Steps & Examples

Published on January 11, 2019 by Shona McCombes . Revised on August 15, 2023 by Eoghan Ryan.

A thesis statement is a sentence that sums up the central point of your paper or essay . It usually comes near the end of your introduction .

Your thesis will look a bit different depending on the type of essay you’re writing. But the thesis statement should always clearly state the main idea you want to get across. Everything else in your essay should relate back to this idea.

You can write your thesis statement by following four simple steps:

• Start with a question
• Write your initial answer
• Develop your answer
• Refine your thesis statement

Table of contents

What is a thesis statement, placement of the thesis statement, step 1: start with a question, step 2: write your initial answer, step 3: develop your answer, step 4: refine your thesis statement, types of thesis statements, other interesting articles, frequently asked questions about thesis statements.

A thesis statement summarizes the central points of your essay. It is a signpost telling the reader what the essay will argue and why.

The best thesis statements are:

• Concise: A good thesis statement is short and sweet—don’t use more words than necessary. State your point clearly and directly in one or two sentences.
• Contentious: Your thesis shouldn’t be a simple statement of fact that everyone already knows. A good thesis statement is a claim that requires further evidence or analysis to back it up.
• Coherent: Everything mentioned in your thesis statement must be supported and explained in the rest of your paper.

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The thesis statement generally appears at the end of your essay introduction or research paper introduction .

The spread of the internet has had a world-changing effect, not least on the world of education. The use of the internet in academic contexts and among young people more generally is hotly debated. For many who did not grow up with this technology, its effects seem alarming and potentially harmful. This concern, while understandable, is misguided. The negatives of internet use are outweighed by its many benefits for education: the internet facilitates easier access to information, exposure to different perspectives, and a flexible learning environment for both students and teachers.

You should come up with an initial thesis, sometimes called a working thesis , early in the writing process . As soon as you’ve decided on your essay topic , you need to work out what you want to say about it—a clear thesis will give your essay direction and structure.

You might already have a question in your assignment, but if not, try to come up with your own. What would you like to find out or decide about your topic?

For example, you might ask:

After some initial research, you can formulate a tentative answer to this question. At this stage it can be simple, and it should guide the research process and writing process .

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Now you need to consider why this is your answer and how you will convince your reader to agree with you. As you read more about your topic and begin writing, your answer should get more detailed.

In your essay about the internet and education, the thesis states your position and sketches out the key arguments you’ll use to support it.

The negatives of internet use are outweighed by its many benefits for education because it facilitates easier access to information.

In your essay about braille, the thesis statement summarizes the key historical development that you’ll explain.

The invention of braille in the 19th century transformed the lives of blind people, allowing them to participate more actively in public life.

A strong thesis statement should tell the reader:

• Why you hold this position
• What they’ll learn from your essay
• The key points of your argument or narrative

The final thesis statement doesn’t just state your position, but summarizes your overall argument or the entire topic you’re going to explain. To strengthen a weak thesis statement, it can help to consider the broader context of your topic.

These examples are more specific and show that you’ll explore your topic in depth.

Your thesis statement should match the goals of your essay, which vary depending on the type of essay you’re writing:

• In an argumentative essay , your thesis statement should take a strong position. Your aim in the essay is to convince your reader of this thesis based on evidence and logical reasoning.
• In an expository essay , you’ll aim to explain the facts of a topic or process. Your thesis statement doesn’t have to include a strong opinion in this case, but it should clearly state the central point you want to make, and mention the key elements you’ll explain.

If you want to know more about AI tools , college essays , or fallacies make sure to check out some of our other articles with explanations and examples or go directly to our tools!

• Ad hominem fallacy
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A thesis statement is a sentence that sums up the central point of your paper or essay . Everything else you write should relate to this key idea.

The thesis statement is essential in any academic essay or research paper for two main reasons:

• It gives your writing direction and focus.
• It gives the reader a concise summary of your main point.

Without a clear thesis statement, an essay can end up rambling and unfocused, leaving your reader unsure of exactly what you want to say.

Follow these four steps to come up with a thesis statement :

• Ask a question about your topic .
• Write your initial answer.
• Develop your answer by including reasons.
• Refine your answer, adding more detail and nuance.

The thesis statement should be placed at the end of your essay introduction .

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How to Write a Relevant Conclusion for Your Dissertation

The last portion of your dissertation is called the conclusion. The objective of the dissertation conclusion is to answer the primary question of the research, provide a summary of the research, make recommendations for possible research on the subject and list the new information that your research contributes to the field.

Although the discussion and the conclusion have similar elements, they are not the same. They may be combined in shorter journal articles and papers. However, in a thesis, both the conclusion and discussion must be included.

While a discussion includes specific interpretations and results, the conclusion makes broader statements to sum up all the important points of your research.

Writing a good conclusion is important to clarify the main discoveries and arguments of your research. Here are some tips on how to conclude a thesis.

Provide Answers to The Primary Question in Your Research

The first step is to understand how to start a conclusion. It must begin with the key question of your dissertation. This allows you to show the results of your work. It must be clear and concise. You do not have to repeat all the results discussed along the thesis. Just combine them into a few words that will become the final takeaway for readers.

For example, the conclusion for a dissertation that aims at making theoretical arguments by analysing case studies, the beginning can be as follows:

“A detailed analysis of the changing representations of the UK border policy and migration over the last ten years, the influence of media discourse in political decision making is highlighted in this dissertation”

Summarise Your Research

The thesis conclusion gives your readers a reminder about why you approached a topic in a certain way. You must summarize the expected results and the actual results that matched these expectations.

The summary should not have too many repetitions. It is not meant to summarize every chapter. Instead, it must reflect your views and ideas that were developed through the course of the thesis. This is also a good opportunity to list any limitations in the research. You can also highlight why your methodology was best suited for the topic discussed.

Here is an example of how to restate thesis in conclusion:

This research evidently shows “X” while raising a few questions about “Y”. In keeping with the example provided above, the summary can begin as follows: “In addition to showcasing the various representations of UK border policy, this thesis also raises questions on the credibility of media exposure in these representations.”

Provide Recommendations

In the discussion of your research, you may have provided possible areas to explore in future research. However, with the conclusion, you can elaborate on these suggestions. Make sure you include the implications of all your findings in the field of study.

These examples will help you understand ways to start a dissertation conclusion recommendation:

“Further research is required to determine the relationship between the changing political views on migration and their effect on global economy”, or, “Based on the conclusions of this research, practitioners may consider studying the relationship between migration and economy”

Make sure that you do not exaggerate how applicable your research is. Instead, provide broader statements to highlight important insights of your thesis. Remember, the conclusion must not include any new interpretations, data or arguments.

Highlight the Contributions of You Research

A good thesis is one that provides some new knowledge to a particular field of study. This gives your readers a very strong impression about the contributions of your thesis. You can highlight the contributions of your research in different ways as mentioned below:

• Go back to the problem statement and explain how your thesis has helped solve it.
• Use references from the literature review to showcase how your research has addressed any gaps in information.
• Write about how the results of your thesis challenges existing assumptions and theories.

You need to make sure that you do not repeat information that has already been covered in the discussion. Choose only the important points and provide a brief overview.

Complete the Dissertation

Once the conclusion is written, there are a few final steps to complete your dissertation:

• Write the thesis abstract in 200 words or less .
• Review your reference list and format it as per the writing style. You can also use online reference generators to speed up this process.
• Create the table of contents and complete the title page .

Make sure you review the document completely to ensure that there are no language errors.

Dissertation Conclusion Checklist

To make sure that you have understood the essence of the conclusion, compare this checklist with any available dissertation conclusion sample:

The research question is answered The argument is summarised There is some reflection on the methods and results Limitations, if any, are highlighted The most relevant recommendations are discussed The important contributions of the thesis are explained clearly There is no inclusion of new data

If you need any thesis writing help or wish to read through example of conclusion in thesis, our experts are always ready to help you. Get in touch with us now to create an impressive conclusion for your thesis.

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Writing a Conclusion

Writing a conclusion is an important part of any piece of writing. It is often possible to get a good overview of an assignment by looking briefly at the conclusion. However, writing a conclusion can be quite difficult. This is because it can often be hard to find something interesting or useful to say in the conclusion. Conclusions should be attractive and interesting but often they are rather dull and "formula written".

Although formulae for writing conclusions are tempting to use, it is always best to avoid set phrases such as "Therefore, let us conclude that..." which are clichés, and do not help to end your work in the best light.

Helpful information, advice and materials for writing conclusions

1. What are the typical ingredients in a conclusion?  

2. What are the differences between writing conclusions to essays and to dissertations/theses?

3. See a sample conclusion

4. Try a practice activity

5. Check out further advice on writing conclusions

6. Download a checklist to help you edit your written work

What are the typical 'ingredients' of a conclusion?  

Trzeciak and Mackay (1994) ( Study skills for academic writing. New York: Prentice Hall ) observe a number of useful "ingredients" that form part of a conclusion. Again (as with introductions) it will not always be necessary or desirable to include all the elements they mention. However, you will probably want to use some of these in some combination, in order to conclude your work.

• A summary of the main part of the text
• A deduction made on the basis of the main body
• Your personal opinion on what has been discussed
• A statement about the limitations of the work
• A comment about the future based on what has been discussed
• The implications of the work for future research
• Important facts and figures not mentioned in the main body

Pallant (2009) sees five basic ingredients of a conclusion as follows, though these will not always be used in the same conclusion:

• A summary of the main points (being careful not to repeat exactly what you have written before)
• Concluding statements  
• Recommendations
• Predictions

These recommendations probably apply more to discussion essays than they do to other kinds of assessed writing at university. For example, if you are writing a business plan or discussing a law scenario, or answering an examination question, you may not need the above elements, unless the question specifically asks you for them or unless it is known that it is expected of you in the discipline you are working in.

However, you will generally need a final section to indicate that you are 'rounding off' the discusion. Always be very careful to check what the conventions are in the discipline you are working in, and ideally, it is best to look at examples of past students' work so that you can see what you are aiming for.

  back ^

What are the differences between writing conclusions to essays and to dissertations/theses?  

When writing longer pieces of work, it is still very important to observe some of the principles above. For instance, you will still want to ensure that your conclusion really does conclude , and does not just go off at a tangent to discuss something that is unrelated to the thesis. Some people believe (mistakenly) that a conclusion is the place for you to relax and 'say whatever you want'. This is incorrect. If you do this, you will be likely to be marked down.

There are also likely to be some key differences in your approach when writing conclusions. Certainly, conclusions will be even more important in a dissertation or thesis, purely because of the length of the piece. Among the differences you will notice are the following:

• As well as having an overall conclusion to your dissertation or thesis, each chapter should also have a conclusion (as well as an introduction). The reason for this is that in a longer piece of writing, it becomes more important to remind the reader of what you have done and why you have done it, before you move onto the next stage.
• The conclusion of a dissertation or thesis is not an opportunity to engage in a personal 'rant'. You must draw out key aspects of the literature you have studied, along with your recommendations , and say how they are justified or contradicted by your research.
• It is a good idea in a chapter conclusion to remind the reader what happened in the chapter (e.g. In this chapter, the literature relating to the teaching of vocabulary was considered.). After this, you need to build a bridge linking this chapter with the next one. (e.g. This will be further discussed in the next chapter.)
• In a dissertation or thesis, there is likely to be a longer section on the limitations of your research . Important though this is, however, you also need to be sure to sell your research in the conclusion - so it is best not to be too negative or over-modest about your achievements at this point. The key to many dissertations and theses is the need to emphasise the contribution that it makes to research.
• In a dissertation or thesis, it is more likely that you will have a section on the need for future research . In an MA or MSc dissertation you may like to suggest something that could be developed from your work as a PhD thesis. In a PhD thesis you may like to indicate some potential for post-doctoral work.

Further advice on writing conclusions

When writing an assignment, be careful of the following points:

• The topic you are writing about may not always require a full conclusion (this is particularly the case if your work is heavily analytical or mathematical, or not very discursive.) Remember not all assignments require discussion. Check what the expectations are in your own department. Ask your tutor if you are not sure.
• Even if you do not need a full conclusion, remember that any assignment nearly always needs to be rounded off in some way and brought to an end. Consider this: will the reader know that you have finished your work? (Or will they just think that you have run out of time - or energy)?
• Keep in mind the balance of your assignment. The conclusion should be clear and relatively brief.
• In discussion-type assignments, it is often a better idea to raise questions and problems in the conclusion than to provide over-simplified/ naive answers to the assignment title. Examiners will usually be very wary of essays, theses or dissertations that presume to solve all the world's problems in a simplistic and trivial way. Remember, life is never that simple. However, remember not to introduce any new material in the conclusion.
• There is no need to go over everything again that you have already mentioned; this would be unnecessarily boring and tedious.
• Make sure that the conclusion is based on what you have said before. It is often tempting to go off at a tangent and to say things that are completely unrelated to the topic. Be wary of this.
• It is permissible to give your opinion in the conclusion but try to do so subtly and try not to sound too pompous or authoritarian . Usually your viewpoint will be obvious from your discussion, so there is no need to conclude with statements such as: In conclusion, I think Hamlet is a great play. Allow your enthusiasm for the topic to show in how you discuss it. Make sure that you do not use the conclusion as an opportunity to engage in an over-generalised an unfocussed 'rant'.
• Be careful with tenses. In a conclusion, you will usually want to use the present perfect (e.g. The aim of this dissertation has been to....) followed by the simple past (Chapter 1 provided an overview of...).
• Be very careful about using the word "conclusion" anywhere other than the conclusion itself! This can mislead the reader. If you use the word conclusion several times in an essay, the reader will give up trying to work out where the conclusion really is.

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How To Write a Thesis Conclusion – Example & Tips

A thesis conclusion is the last and the most crucial section of your thesis or dissertation. It is the summary of the dissertation. Put it this way: the conclusion paragraph is your entire dissertation wrapped in a few paragraphs. But, concluding a thesis is never easy for many people. Therefore, what is the best way for concluding a thesis or dissertation?

In this post, we will take a closer look at the dissertation conclusion to help you understand how to write a winning conclusion for a research paper as well as a thesis. We will narrow it down further to outline the best structure of a conclusion.

What is the Importance of the Conclusion Paragraph?

Discussion vs conclusion, what is the best format for writing a conclusion, get a sigh of relief concluding thesis.

Before digging deeper into the mechanics of how to write a conclusion for a research paper or thesis, you need to ask yourself the question: “Why is it important?”

Your dissertation conclusion is the last part that you work on after completing the research and the write-up. No matter the area of study you are focusing on, the conclusion can help you to achieve the following goals:

• Answering the research questions that you posed in the first chapter of the dissertation.
• The conclusion paragraph is the part where you reflect on the dissertation.
• In the conclusion, you draw the recommendations for additional studies in areas where you found gaps.
• When writing a dissertation conclusion, you demonstrate what new knowledge you are contributing to the field.

Note that just like the rest of the dissertation, you should not shy from asking your supervisor for a great dissertation conclusion example, especially from past students. This is very important because your department might have a preferred format for writing dissertation conclusions. You can also get a perfect example of a conclusion in the thesis as you research your topic.

When designing a conclusion format, it is important to differentiate it from the results and discussion parts of the thesis. This will help you to strike the perfect flow and win the readers’ affection.

The dissertation results chapter outlines the findings you generated from the research. You should use tables and graphs to demonstrate the findings of the study. The results chapter comes before the discussion.

In the discussion section, you delve deeper into the results you have just presented. You are simply deciphering the findings in line with your research questions. It is the discussion that will set the stage for approving or disproving the thesis statement that you outlined in the first chapter.

NOTE: In some colleges, the results and discussions are put together into one chapter. Therefore, it is very important to follow your college’s recommendation.

While the results and discussions focus more on the results, the conclusion wraps up the entire dissertation. If your dissertation ends at the discussion part, the reader will be left hanging. But writing the conclusion makes the dissertation feel complete and authentic.

As you think about how to write a conclusion, there is one question you need to get right: “How long should a conclusion be?” If you are writing a conclusion for a standard research paper or short thesis, one to three paragraphs should suffice. To put it in percentage, the conclusion should be about 5% of the overall word count. Therefore, you should start by establishing “how long should a thesis be”.

In most cases, the conclusion for empirical scientific research is generally short while that of humanities dissertations is longer. Here is the best format for how to end a research paper or thesis.

• Start by answering the thesis question: Your conclusion should commence by restating the main thesis question that you anticipate answering. Finally, you have the opportunity to answer the question. Ensure the answer is clear and concise.
• Reflect on the research that you have just finished: After stating the study question, you need to remind the marker or readers why the study was important. Why did you set off on the journey, what was the anticipation, and did the results confirm the expectation? Give an overview of steps that were used during the research and construction of your argument.

At this point, you might be wondering – do I summarize every chapter? The answer is ‘no.’ Instead, you should write more reflectively and answer whether the methodology used was effective in answering the study questions. Make sure also to mention the limitations you experienced during the study.

• Outline recommendations: Although you might have noted the areas that need further research when discussing results, the conclusion is a perfect place to elaborate. Its recommendations interweave well with personal reflections. Try to make recommendations specific. Here are some examples of how to frame recommendations:

Further studies are needed to establish the implications of …. From the conclusion, sociology researchers should consider ….. To understand the effects of the findings, further research can help to ….

• What was your contribution? This part of the conclusion is used to answer the question: “So what?” It provides the right impression of how the thesis contributed to the researcher’s field of study. To achieve this, you can use the following strategies:

Revisit the study problem statement and explain how the thesis helped to solve it. Refer to the study’s literature review to demonstrate how the dissertation has helped to fill the existing gap. If your dissertation is in humanities, you can demonstrate how the findings challenged or confirmed the current viewpoints, assumptions, or theories.

Note that the conclusion should not appear as a stand-alone chapter in the dissertation. Rather, it should articulately interweave with the rest of the paper. To perfect your skills, make sure to also check top conclusion paragraph examples from other students.

From this post on how to write a conclusion paragraph, there is no doubt that you should find it an easy and enjoyable process. After working so hard to complete the dissertation, the conclusion paragraph is simply aimed at wrapping everything up. To get the best conclusions, you should also read top-rated conclusion paragraph examples to see how experts do it. But we must agree that even with this simplified demonstration, crafting the perfect conclusion paragraph is no easy task. It takes time and practice.

There are times when students, even after working on the biggest chunk of their dissertations, feel inadequate to write the conclusions. Often, the process can be complicated when you are required to follow specific models such as MLA or APA conclusions. Even if you have the best conclusion examples and working hard to hone your writing skills, a tight deadline or other engagements might make it hard to craft the best. If you feel inadequate about writing a Harvard or MLA format conclusion because of any reason, do not hesitate to seek writing help.

Writing help is offered by expert writers who understand the structure of Ph.D. conclusion chapters to guarantee you the best grades. No matter your area of study, the experts are cheap and will get you the best. In addition to helping you write the conclusion, they can also provide you with the best sample of a conclusion paragraph for practice. What a great way to sharpen your skills in dissertation writing?

Do not let writing a thesis conclusion stress you: Use this post to make it fun!

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Introduction and conclusion thesis chapters

Both the introduction and conclusion chapters frame your thesis. The introduction gives a preview of the thesis and often indicates the standard of the thesis. The conclusion gives a convincing summary of the thesis’s findings.

• The introduction chapter
• The conclusion chapter

The introduction allows you to orient the reader to your research project and preview the organisation of your thesis. In the introduction, state what the topic is about, explain why it needs to be further researched and introduce your research question(s) or hypothesis.

Whilst patterns of organisation in introductions vary, there are some common features that will help you to achieve an informative and engaging introduction. Let’s identify these features:

• Introduce the topic
• Define key terms and concepts
• Give background and context for the topic (this may include a brief literature review)
• Review and evaluate the current state of knowledge in the topic (this may include a brief literature review)
• Identify any gaps, shortcomings and problems in the research to date
• Introduce your research question(s) or hypothesis
• Briefly describe your methodology and/or theoretical approach
• Explain the aim of your research and what contribution it will make to the topic
• Give an overview of the chapter outline of the thesis.

It’s important to note that, depending on your field of study and the faculty requirements of your thesis, not all of these features will be relevant. Also, these features may occur in varied orders.

Most people write many drafts of their introduction. It can be useful to write one early in the research process to clarify your thinking. You will need to write a version for your confirmation proposal and other milestones. As your research progresses and your ideas develop, you will need to revise it. When the final draft of chapters is complete, check the introduction once more to make sure that it accurately reflects what you have actually done.

Check your understanding View

Read the following sentences from a doctoral thesis introduction. The research topic is Motivations for multiple tattoo acquisition (Applied Psychology).

Determine what introduction feature is demonstrated in the extract and scroll down to check your response before moving on to the next part of the activity.

Source: Stephanie Kalanj-Mizzi (2021). Motivations for multiple tattoo acquisition. (Unpublished doctoral dissertation). Monash University, Melbourne, Australia.

Depending on the type of research presented in the thesis, conclusion chapters or sections tend to include at least some of the following:

• A clear answer to your research question or hypothesis
• Summary of the main findings or argument
• Connections between your findings or argument to other research
• Explanation and significance of the findings
• Implications of the findings
• Limitations of the research and methodology
• Recommendations for future research

Your conclusion chapter is the place to emphasise the new knowledge that you’ve contributed to the field of study and explain its significance. This chapter is your opportunity to leave a strong impression on the reader (assessors) about the strength and relevance of your research, and your skills as a researcher.

Importantly, the conclusion chapter must link with your introduction chapter to complete the framing of the thesis and demonstrate that you have achieved what you set out to do.

Read the following sentences from a doctoral thesis conclusion. The research topic is Investigating the Role of Myeloid Cell Autophagy in Autoimmune Disease (STEM).

Source: Md Abul Hasnat (2021).  Investigating the Role of Myeloid Cell Autophagy in Autoimmune Disease. (Unpublished doctoral dissertation). Monash University, Melbourne, Australia.

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Dissertation Conclusion: The Perfect Way to End Your Dissertation

Table of Contents

• 1. Definition of a dissertation conclusion
• 2. How to write a dissertation conclusion
• 3. How long should a dissertation conclusion be?
• 4. Differentiating conclusion and discussion
• 5. Writing a dissertation conclusion
• 5.1. Step 1: Start by Answering the Thesis Questions
• 5.2. Step 2: Summarize the Thesis Findings
• 5.3. Step 3. Draw Key Recommendations
• 5.4. Step 4. Highlight the Contribution
• 6. Close the thesis

Dissertation Conclusion: What Is It?

The dissertation conclusion is the final chapter of the thesis, wrapping up the research conducted and summarizing the key outcomes of a discussion section.

How To Write A Dissertation Conclusion

• Answer the research questions of the study . These are solutions to the questions that you brought forward in the first chapter of the dissertation.
• Summarize the dissertation/ your study . The summary captures the key arguments brought out in the dissertations and also reflects on them.
• Draw the main recommendations . These are further elaborations on the recommendations that you drew in the discussion.
• Demonstrate the contribution you have made . This gives your readers a clear impression of the impact that you have made with the dissertation in the area of study.

When thinking of how to write thesis conclusion, it is important to make it easy-to-read, concise, and fun to read. Your goal should be putting across the argument that your dissertation brought out. Although you will most probably have handled the introduction, literature review, methodology, and discussion of the dissertation, the importance of the dissertation conclusion cannot be underestimated.

• It answers the research questions of the study.
• It provides you with the opportunity to summarize the findings of the study.
• Offers you the opportunity to make recommendations for additional studies.
• Clearly highlights the additional knowledge that your dissertation has added.

How Long Should a Dissertation Conclusion be?

Before we can dig deeper into the main ways to start a conclusion of a thesis, it is prudent to know how long it should be.

The recommended length of a dissertation conclusion is 5-7% of the overall word count .

But you should note that empirical scientific studies, which are shorter, rock shorter conclusions compared to those of studies in humanities. You might want to check a dissertation conclusion sample from a top student or expert to see how he/she did the conclusion.

Differentiating Conclusion and Discussion

Taking a closer look, you might notice that a dissertation conclusion and discussion have some similar components. Indeed, some universities recommend combining the conclusion and discussion.

The main difference between the two is that a conclusion is shorter and takes a more general perspective compared to the discussion. Note that a conclusion should not introduce new information or arguments.

Writing A Dissertation Conclusion

To make concluding your thesis easy and direct, you should follow these four steps. Since you are concluding, it is important to have the arguments clear both in your mind and the thesis. Here is a step-by-step guide on how to conclude a thesis.

Step 1: Start by Answering the Thesis Questions

If you have been wondering how to start a thesis conclusion, the best way is restating the main study questions and thesis . The conclusion offers you the chance to show the reader that the thesis achieved the core goal it was intended to. So, it is important to craft a straightforward answer to the questions of the research. Remember to avoid simply restating the findings because you will sound repetitive. Instead, synthesize them and put them across in an easy-to-remember manner. See the examples of how to restate thesis in conclusion.

By evaluating the fast-changing representation of migration and Italy border policy in the past 15 years, this demonstrated that media discourse can help to shape the decision making in a country.

Step 2: Summarize the Thesis Findings

The person who is reading your dissertation conclusion has come a long way from the first chapter. Before finishing reading the study, this is a great opportunity to remind him/her why you started working on the study in the first place. Well, go a step further and demonstrate how articulately the results from the study synched with your main expectations. So, summarize the study coherently, showing the entire journey that was followed during the study.

At this point, many students find themselves doing a lot of repetition, which can make the conclusion boring. Instead of simply summarizing chapters, consider using a reflective approach. For example, how effectively did the findings answer the questions of the study? Here are some examples of how to do it:

This study strongly demonstrates that Y, but further raises fundamental questions about X and Z

Step 3. Draw Key Recommendations

Although you are likely to have highlighted the recommendations when writing the discussions, here is another opportunity to provide further elaboration. So, how do you do it? Here are some examples :

From these conclusions, researchers should factor …. To comprehend the impacts of the findings brought out in this study, more studies could help to find out … Additional studies are required to bring out the relationship between …

Here, it is important to be factual. Remember that when you call for additional studies, a question about it could be thrown your way during the thesis defense.

Step 4. Highlight the Contribution that Your Thesis has made in Your Area of Study

As you close the thesis, your reader should not be left in doubt about the contribution that you made to knowledge in the area of study. Here are some unique ways that you can achieve this:

Revisit the main problem of the study and demonstrate how the study solves it. Using the literature review, demonstrate how the study helped to seal the gaps that existed there.

Close the Thesis

After writing the thesis, you are finally approaching the end. So, it is the best moment to hit the final steps because everything is still clear and fresh in mind. Make sure to also check another top example of conclusion in thesis and compare it with yours. The aim is to make your conclusion look better. Here are the main things that you need to work on:

• The abstract. Although this is coming in the last part of the dissertation, it is positioned before the table of content of the dissertation.
• Reference list.
• Appendices.
• Proofread your dissertation.

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• Basics of Dissertation & Thesis Writing
• How to Write a Dissertation or Thesis Conclusion: Guide & Examples

How to Write a Dissertation or Thesis Conclusion: Guide & Examples

Table of contents

A dissertation conclusion serves as the final chapter and is often the last thing the reader will see. It should provide a concise summary of the research project, including the research questions or hypotheses, the methods used to conduct the research, and the key findings and conclusions. The conclusion section should also discuss the implications of the research, including its significance for the field and any practical applications of the findings.

Are you a PhD, doctorate, or bachelor student looking forward to writing your dissertation/thesis conclusion and don't know where to start? Stop worrying — help is here. Continue reading this blog post to gain an idea on how to write a conclusion for a thesis or dissertation. In this article, we will discuss what a dissertation conclusion is, its length, and what it should include. Our dissertation services  also provided examples, and explained some typical mistakes you have to avoid.

What Is a Dissertation Conclusion?

So, what is a thesis conclusion? It is a concluding chapter in a dissertation or thesis paper. It is the last section of an academic work, carefully written to summarize the information discussed in a document and offer readers insight into what the research has achieved. Your dissertation or thesis conclusion should be well-drafted as it is a reference point that people will remember most. The purpose of dissertation conclusion is to give those reading a sense of closure and reiterate any critical issues discussed. Each conclusion for dissertation should be concise, clear, and definitive. Also, its aim is to offer recommendations for further investigation as well as give readers an understanding of the dissertation discussion chapter .

Thesis or Dissertation Conclusion Length

The conclusion of a thesis or a dissertation is a long chapter — not one single sentence but a whole page or more. Generally, it should be 5–7% of the overall word count. The length of a thesis or dissertation conclusion chapter depends on several factors, such as your academic field, research topic , and stated number of pages. However, it can vary depending on other circumstances. Indeed, you should always refer to each set of your university guidelines for writing conclusions. It's important to note that this section ought not to introduce any new information and be a summary of the research findings. Also, every dissertation conclusion must not be too long as it can distract from other aspects of your thesis. Make sure that you provide a balanced summary and avoid repeating yourself. Lastly, it has to be long enough to discuss its implications for future studies.

What to Include in the Conclusion of a Dissertation or Thesis?

Writing a thesis conclusion can be challenging, but every student needs to understand how to create it, as this is one of the most critical parts of your Ph.D. work. Below is the list of things every dissertation conclusion structure should include:

• Summary of the major findings of your research Summarize the main points discussed in your work.
• Implications of your research Discuss your study's implications for future research and academic fields. Doing this here is essential to indicate an author's transparency and willingness to accept the flaws of their report.
• Recommendations for further study Provide suggestions for the next investigation if needed.
• Reviewing any limitations and weaknesses of the research process and findings It is an integral part of dissertation conclusions as it allows authors to reflect on the process.
• Evaluation or analysis of your findings Analyze your research findings and provide an assessment.
• Conclusion statement Provide a specific conclusion that summarizes your thesis or dissertation.

Hopefully, these tips on writing a conclusion chapter for your thesis or dissertation will help you finish your work confidently. All these components should be present when writing a conclusion for thesis or dissertation. Additionally, ensure that you do not repeat yourself. Lastly, keep your length appropriate and based on your university guidelines.

How to Write a Dissertation Conclusion Chapter?

When writing this chapter, you should ensure its content is clear and concise. Equipping yourself with some knowledge of how to write a conclusion for a dissertation or thesis is imperative, as it will help you keep your piece organized, logical, and interesting. This chapter is the last part of your work that your professors or readers will read, and it should make a lasting impression on them. Below is a step-by-step instruction on how to write a dissertation conclusion section.

1. Restate Your Research Question and Answer It

While writing a dissertation conclusion, your first step is to restate the research question offered in your dissertation introduction and reveal the answer. It is essential to do this in your conclusion in thesis or dissertation because it helps readers be aware of every primary point you were trying to achieve in writing. In addition, restating available research questions in your conclusion in a dissertation or thesis will also make people understand the significance of your inquiry. In other words, it should remind people of the original purpose of writing. Provide further insights into a topic when answering each research question. In addition, responses must be related to your dissertation results section and offer evidence for any conclusions you made in your study. When writing a dissertation conclusion chapter, you ought to be able to give a meaningful response to the study question that adds value to your work. Keeping replies short, concise, and clear will help you to avoid writing irrelevant content. Below is an example of how to start a dissertation conclusion:

In conclusion, this research has successfully answered the primary research question: how does gender discrimination impact job satisfaction in the workplace? The study determined that gender discrimination directly impacts job satisfaction and can make employees feel demoralized, undervalued, and frustrated. Furthermore, employers must create policies and initiatives promoting workplace inclusion and equality. It can help employees feel valued, respected, and satisfied.

2. Summarize Key Points

The next element in your conclusion section is summarizing the main points of your dissertation. In this section, students need to reflect on their study and mention critical findings and the methodology's effectiveness. Straightforwardly compose your summary and ensure you use your own words to write a conclusion in a dissertation. Avoid copying and pasting sentences from other parts of your work to evade plagiarism and repetition. In concluding a dissertation, each written summary should include findings, results, data, and additional relevant literature. The following is an example of how to summarize a dissertation:

The study aimed to research the effects of gender discrimination on job satisfaction in the workplace. A survey was conducted on 106 participants across different industries using qualitative and quantitative research methods, allowing data collection from employees. Findings revealed that gender discrimination has a direct impact and can lead to feeling demoralized, undervalued, and frustrated. On the other hand, the research found that inclusivity and equality initiatives can help employees feel better about their job roles. Therefore, it is essential that organizations take adequate steps to create a more inclusive and equitable workstation.

3. Explain Why Your Study Is Valuable

After summarizing your key points, the next step to writing a dissertation conclusion is to explain why your research was valuable. Here you should provide readers with an additional perspective of the study to better understand the importance of your study. When it's time to write a conclusion to a thesis paper or dissertation, you must explain what makes it worthwhile to any academic or scientific community. It can include topics such as answering a critical research question, using unique methods to explore an issue, or discovering something new about an existing topic. You should note that you have to provide further recommendations to help improve the research. Composing a dissertation conclusion shows how your work has impacted the field of study, either in progress or resolving an existing problem. It is essential to demonstrate how your study contributes to future studies and influences society or policymaking. Doing this is crucial in your dissertation conclusion chapter as it shows readers the importance of research in that field and validates what you have achieved throughout your investigation. Also, explaining some study implications to society will help people understand why this topic is valuable and relevant. Below you can find an example of how to write contributions in a dissertation conclusion:

The research discussed in this work demonstrates that gender discrimination directly impacts job satisfaction in the workplace. The results of this study have several implications for society, most notably for employers, to create policies and initiatives to promote workplace inclusion. In addition, it's valuable to organizations to help them make more equitable and inclusive offices, to academics to inform their research on diversity and inclusivity, and to policymakers to develop initiatives to reduce gender discrimination in places of work. The research provides valuable insight to inform future studies on this topic and serves to highlight the need to create policies to protect employees from gender discrimination better.

If you experience difficulties with any section of your PhD work, don’t hesitate to ask our professional academic writers for thesis help. 

4. Mention the Limitations of Your Study

When writing a thesis or dissertation conclusion, mentioning your study's limitations is imperative. It includes discussing any issues you encountered in collecting data, constraints that limited your research, and specific parameters. Citing these shortcomings can help provide insight into why certain elements may not be included in your work and explain any discrepancies your readers might have noticed and, hence, missing in your conclusion chapter. Additionally, writing about any drawbacks can deliver an opportunity to offer further suggestions for future studies and make recommendations on how best to address these uncovered issues. In concluding a dissertation, constraints should not be seen as unfavorable but rather as an additional chance to deliver more understanding of your investigation. Limitations in a thesis conclusion example can look as follows:

The study is subject to some limitations, such as small sample size and limited scope of data collection. Moreover, due to time constraints, this research did not address some potential implications of gender discrimination in other areas, such as pay, career development, and career advancement. Future studies could further explore these topics in more depth to gain a more comprehensive understanding of their effects on job satisfaction.

When writing about identified limitations of the research, you demonstrate to readers that you considered critical shortcomings and that you are aware of available potential issues. That will provide insight into addressing these limitations and help display your researching and writing credibility.

5. Offer Recommendations Based on Implications

Including recommendations is an integral part of writing every conclusion of a dissertation. In this section, you can provide insight into how to address any issues you have uncovered in your study and make suggestions for future research. When including recommendations, you should first give an overview of the implications of your research and then link it to how you may deal with them. A bachelor conclusion ought to consist of advice for students to guide their future writing. Offer insights for further investigation based on data results and analysis of literature review . Below is an example of how to write dissertation conclusion recommendations:

The research discussed in this study provides several implications for employers, academics, and policymakers. For employers, the results of this study suggest that they should create policies and initiatives to promote workplace inclusion and diversity. Academics can use these findings to inform their research on gender discrimination in the workplace, and policymakers can develop initiatives to reduce it. Furthermore, future studies should explore other potential implications of gender discrimination in the workplace, such as pay, career development, and career advancement. Doing so would provide a more comprehensive understanding of the issue and potential solutions.

6. Conclude Your Dissertation with a Summary

The end of conclusion final chapter will close with a summary of the study. Wrapping up your dissertation or thesis conclusions is an excellent way to leave long-lasting impressions on your readers and ensure they remember all critical points of your research. You should summarize key points from previous sections and how they contribute to your overall context. When writing the conclusion chapter of a dissertation, the summary should be brief but comprehensive. Moreover, these findings can offer an innovative perspective on how to conclude a thesis or a dissertation. It provides comprehensive insights into outcomes and their relevance in today's world. Here is how to wrap up a conclusion of a dissertation example:

Overall, the findings from this research suggest that gender discrimination in the workplace has adverse effects on job satisfaction. Such discrimination often takes the form of unequal pay, career development opportunities, and access to promotions. Employers should take action to create policies that promote workplace inclusion and diversity to address this problem. Additionally, academics and policymakers should further explore the implications of gender discrimination in the workplace and develop initiatives to reduce it. The research provides a valuable starting point for understanding this complex issue and offers insight into potential solutions.

Thesis & Dissertation Conclusion Examples

Before writing a thesis or dissertation conclusion, you are encouraged to check at least two examples. These instances can provide insights on effectively linking your key findings with possible implications for future studies. In addition, you may use these examples as guides to writing your dissertation conclusions. Attached below is a thesis conclusion example sample.

Thesis paper conclusion example

Dissertation conclusion example

Mistakes to Avoid When Writing Dissertation Conclusions

Mistakes are inevitable when writing conclusions in a dissertation, but you can avoid them through careful proofreading and editing. Including new information or data in your dissertation or thesis conclusion chapter is one such mistake. The chapter should only incorporate information or data already mentioned and discussed in other preceding body paragraphs. How not to write a dissertation conclusion can be seen in complex language, lengthy sentences, and confusing grammar. In addition, one should evade making unsubstantiated claims or generalizations not supported by research findings. Shun writing phrases or any argument considered jargon. Lastly, ensuring that the conclusion chapter in a dissertation answers the research question and that you have provided sufficient evidence to support your conclusions is essential. Therefore, we simply recommend that you review and proofread it before submission. Following these tips mentioned above and examples of dissertation or thesis conclusions should help you write effectively.

Dissertation/ Thesis Dissertation Conclusion Writing Checklist

Writing a conclusion to a thesis paper or dissertation can be daunting because there is a lot of pressure to ensure you wrap up all the key points and tie together any loose ends. Checklists are helpful guides. The reason is that they provide practical tips on how to write dissertation conclusions by breaking each writing process down into manageable steps. Below is a checklist of important things you should keep in mind and follow when writing any conclusion:

• checkbox There is a summary of the research objectives and findings.
• checkbox I have covered research implications for a broader field.
• checkbox I have offered study limitations and how to address them in future exploration.
• checkbox I have provided recommendations for further research and applications of the findings.
• checkbox I have made a summary of all main points from the discussion section.
• checkbox I have explained why I chose that particular field for examination.
• checkbox My main conclusions are stated.
• checkbox I have proofread and edited my work after completion.

Final Thoughts on Dissertation Conclusion

The article discussed how to write the conclusion of a dissertation or thesis writing. It has outlined some critical steps and provided a checklist that you can use as a practical guide. Reasonable inferences require clear objectives, knowing the appropriate structure, addressing any limitations within your work, summarizing key points, providing recommendations for further research, and citing sources appropriately. Also, we offered some samples of how to write a thesis conclusion example. Following these steps will ensure that you conclude your dissertation or thesis writing successfully. Finally, proofread and edit your writing to provide high-quality outcome. All these tips will help you in writing a thesis or dissertation conclusion chapter that is effective and comprehensive.

Keep in mind that our expert writers are always here to support you! They can assist in preparing any section of your study. While we are assisting you with writing, you are relaxing your mind or focusing on other important tasks!

FAQ About How to Write a Conclusion to a Thesis or Dissertation

1. how to write a good thesis conclusion.

When writing every thesis conclusion, it's essential to focus on summarizing the key points, providing implications to that broader field, addressing any limitations, and making recommendations for further study. Additionally, it should be concise, clear, logical, and coherent. Finally, it's crucial to proofread and edit it to ensure its high quality.

2. How to start a dissertation conclusion?

Beginning each dissertation's concluding chapter is best done by restating the research question, as it provides the link between your introduction, research objectives, and conclusion. That allows an individual to transition smoothly into summarizing all main points from the discussion. For you to start a dissertation conclusion chapter effectively, it is essential to understand the purpose of writing it in the first place.

4. What is the difference between discussion and conclusion?

The difference between a discussion and a conclusion is in the depth of exploration. A discussion is a detailed assessment of the results, while a conclusion is shorter and more general. The discussion section will usually include a detailed analysis of the data collected, while the conclusion section will often provide an overview of the key points and implications. Additionally, this part will offer recommendations for further research.

3. Can I add new data in a conclusion of the dissertation?

No, including new data in the conclusion of a dissertation is not advisable. This section should summarize the research objectives, findings, and implications. Adding new data would not be appropriate as it may create confusion or inconsistency throughout your research. Conversely, it is prudent to summarize every content your work addresses.

5. How to end a thesis or a dissertation?

The end of a dissertation or a thesis should be memorable and end on a high note. One way to accomplish this is by including something unforgettable, such as a question, warning, or call to action. It will give every reader something to think about and engage in further discussion. 

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Guide to Writing Introductions and Conclusions

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First and last impressions are important in any part of life, especially in writing. This is why the introduction and conclusion of any paper – whether it be a simple essay or a long research paper – are essential. Introductions and conclusions are just as important as the body of your paper. The introduction is what makes the reader want to continue reading your paper. The conclusion is what makes your paper stick in the reader’s mind.

Introductions

Your introductory paragraph should include:

1) Hook:  Description, illustration, narration or dialogue that pulls the reader into your paper topic. This should be interesting and specific.

2) Transition: Sentence that connects the hook with the thesis.

3) Thesis: Sentence (or two) that summarizes the overall main point of the paper. The thesis should answer the prompt question.

The examples below show are several ways to write a good introduction or opening to your paper. One example shows you how to paraphrase in your introduction. This will help you understand the idea of writing sequences using a hook, transition, and thesis statement.

» Thesis Statement Opening

This is the traditional style of opening a paper. This is a “mini-summary” of your paper.

For example:

» Opening with a Story (Anecdote)

A good way of catching your reader’s attention is by sharing a story that sets up your paper. Sharing a story gives a paper a more personal feel and helps make your reader comfortable.

This example was borrowed from Jack Gannon’s The Week the World Heard Gallaudet (1989):

Astrid Goodstein, a Gallaudet faculty member, entered the beauty salon for her regular appointment, proudly wearing her DPN button. (“I was married to that button that week!” she later confided.) When Sandy, her regular hairdresser, saw the button, he spoke and gestured, “Never! Never! Never!” Offended, Astrid turned around and headed for the door but stopped short of leaving. She decided to keep her appointment, confessing later that at that moment, her sense of principles had lost out to her vanity. Later she realized that her hairdresser had thought she was pushing for a deaf U.S. President. Hook: a specific example or story that interests the reader and introduces the topic.

Transition: connects the hook to the thesis statement

Thesis: summarizes the overall claim of the paper

» Specific Detail Opening

Giving specific details about your subject appeals to your reader’s curiosity and helps establish a visual picture of what your paper is about.

» Open with a Quotation

Another method of writing an introduction is to open with a quotation. This method makes your introduction more interactive and more appealing to your reader.

» Open with an Interesting Statistic

Statistics that grab the reader help to make an effective introduction.

» Question Openings

Possibly the easiest opening is one that presents one or more questions to be answered in the paper. This is effective because questions are usually what the reader has in mind when he or she sees your topic.

Source : *Writing an Introduction for a More Formal Essay. (2012). Retrieved April 25, 2012, from http://flightline.highline.edu/wswyt/Writing91/handouts/hook_trans_thesis.htm

Conclusions

The conclusion to any paper is the final impression that can be made. It is the last opportunity to get your point across to the reader and leave the reader feeling as if they learned something. Leaving a paper “dangling” without a proper conclusion can seriously devalue what was said in the body itself. Here are a few effective ways to conclude or close your paper. » Summary Closing Many times conclusions are simple re-statements of the thesis. Many times these conclusions are much like their introductions (see Thesis Statement Opening).

» Close with a Logical Conclusion

This is a good closing for argumentative or opinion papers that present two or more sides of an issue. The conclusion drawn as a result of the research is presented here in the final paragraphs.

» Real or Rhetorical Question Closings

This method of concluding a paper is one step short of giving a logical conclusion. Rather than handing the conclusion over, you can leave the reader with a question that causes him or her to draw his own conclusions.

» Close with a Speculation or Opinion This is a good style for instances when the writer was unable to come up with an answer or a clear decision about whatever it was he or she was researching. For example:

» Close with a Recommendation

A good conclusion is when the writer suggests that the reader do something in the way of support for a cause or a plea for them to take action.

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PayPal: Why It Can Still Perform Bad Against Peers

• PayPal's financial outlook is characterized by complexities, with optimistic growth scenarios potentially hindered by declining net income and challenges in achieving the required revenue growth rates.
• The company's financial decisions, including a significant share repurchase program, raise questions about the potential impact on returns and cash flow.
• A conservative target of $56.60 and a "hold" rating are assigned to PayPal, reflecting a cautious perspective on its near-term performance.
• The uncertain economic landscape, marked by the Federal Reserve's efforts to reduce purchasing power and persistent inflation, further underscores the need for a restrained outlook.
• Overall, while PayPal presents opportunities for growth, the potential downside risks and economic uncertainties suggest a measured approach to investment.

Justin Sullivan

In light of the complex dynamics shaping PayPal Holdings, Inc. ( NASDAQ: PYPL ) financial landscape, a cautiously optimistic outlook emerges, underscoring the importance of a prudent investment approach. With a conservative target of $56.60 and a "hold" rating, the company's immediate future is viewed through a measured lens. This stance reflects concerns over declining net income and the challenges associated with achieving the required revenue growth, as well as the potential repercussions of financial decisions such as an extensive share repurchase program. Amidst economic uncertainties, typified by the Federal Reserve's endeavors to reduce purchasing power and persistent inflation, this thesis highlights the need for a tempered perspective on PayPal's near-term performance.

PayPal surprised the community in Q3 by surpassing revenue and earnings expectations. However, they have reaffirmed their Q4 earnings target of $1.38 per share, which aligns closely with analysts' predictions.

Another noteworthy development is their announcement that they will repurchase shares in 2024, with a total value of $5 billion. In my opinion, this amount appears excessive given the company's cash flow generation.

Furthermore, as you can observe in the financials section, while PayPal may have exceeded earnings expectations, their Q3 TTM net income is approximately 9% lower than Q2's TTM net income. This indicates that PayPal's net income did not decrease as significantly as analysts had anticipated, which is a positive outcome.

PayPal Holdings' (PYPL) stock rose over 6%, with Q3 earnings and revenue surpassing Wall Street estimates. However, the company's Q4 earnings expectations of $1.38, trailed the average analyst estimate of $1.40. The company also reaffirmed expectations for 2023 share repurchases of approximately $5B. The company also named Jamie Miller, most recently Global CFO at EY, its chief financial officer, effective Nov. 6.

Fintech Market User Growth Projections

The fintech market is anticipated to reach 5.48 billion users by 2027, which signifies an annual increase of 5.85% from 4.44 billion in 2023.

In the previous five-year period (2019-2023), the market observed a growth rate of 9.79% in new user adoption. This marks a slowdown in the adoption of fintech for digital payments, the market in which PayPal operates.

Fintech Market Transaction Volume Growth Projections

The fintech digital payments market is poised to achieve a transaction volume of approximately $14.17 trillion by 2027, a significant increase from the $8.89 trillion recorded in 2023. This projection implies an annual CAGR of 14.84%, significantly surpassing the projected user growth rate of 5.85%. This suggests that new users will need to conduct larger transactions for digital payment companies, like PayPal, to sustain substantial growth.

Revenue by User

As depicted in the table below, the transaction per user in the digital payments market is expected to grow at a CAGR of 7.25% from 2023 to 2027, with each user projected to transact approximately $2,580.

This data presents a contradiction, as it raises questions about how the transaction value can grow at a rate of 14.84%, while the average transaction per user increases at a rate of 7.25%, only slightly higher than the projected user growth of 5.85%.

For the period from 2019 to 2023, the average transaction value per user increased at a rate of 11.76%, which closely matched the user growth rate of 9.79% annually, leaving a gap of just 1.97%.

Since my last article on PayPal, which was released in Q2 2023, revenue has increased by a modest 2.1%, TTM growth of only 5.8%.

Meanwhile, operating income has seen a 1.48% growth compared to Q2's TTM figure of $4.72 billion. This places PayPal's TTM at approximately 18.85%, which significantly outpaces the growth rate displayed in revenue.

On the other hand, net income has declined from $4.07 billion in Q2 to $3.76 billion in Q3, marking a 9% decrease. While the operating margin has remained relatively stable, the net income margin has dropped from 14.27% to 12.93%, representing a 1.34% decrease.

Author's Calculations

PayPal maintains a reasonable balance sheet. However, if we trace back to 2017, the balance sheet has deteriorated over time. In 2017, PayPal had less debt compared to its cash reserves. Now, as evident, debt and cash holdings are nearly at the same level.

Furthermore, PayPal's free cash flow has worsened, not only since 2020 but also between Q2 and Q3 when PayPal managed to reduce its free cash flow from approximately $3 billion to $2.5 billion. The margin has also decreased, falling from 10.6% to 8.7%.

In summary, PayPal's financial condition is showing signs of deterioration. While its balance sheet remains robust, there is a potential for an increase in debt, possibly surpassing its cash reserves. The most impacted metric is the free cash flow, which has consistently decreased, as I mentioned earlier.

In this valuation, I will present three residual earnings models. The first model will consider analysts' expectations for both revenue growth and EPS growth. The second model will exclusively focus on revenue growth, while maintaining net income at the average net income margin recorded from 2017 to 2023, effectively assuming net income grows in line with revenue. Finally, the third model will represent the most pessimistic scenario, aiming to explore the worst-case outlook for PayPal.

As illustrated in the table below, depreciation and amortization (D&A) and interest expenses will be calculated based on margins associated with revenue. The discount rate will be determined using the CAPM (Capital Asset Pricing Model).

Analysts Estimates:

In this first scenario, which is also the most optimistic one, I aim to determine PayPal's fair value based on analysts' expectations. The first metric is revenue, which is expected to grow at a rate of 8.31%. The projected EPS growth rate, used to estimate net income, stands at 15.69% over the next five years.

Growth Estimates (Seeking Alpha)

For 2023, analysts anticipate revenue of $29.62 billion, and for 2024, it's projected to reach $32.22 billion. As for EPS, analysts expect figures of $4.97 and $5.61, which could translate to net incomes of $5.36 and $6 billion, respectively.

Revenue Estimates (Seeking Alpha)

EPS Estimates (Seeking Alpha)

As demonstrated, this model suggests that if PayPal achieves these growth figures, the present fair value would be $122.21, representing a significant 117.8% upside from the current stock price of $56.1. The future stock price of $231.03 implies annual returns of 63.1%, which is substantial.

Earnings growing at pace with Revenue

In this second model, I will continue to maintain the expected revenue growth rate of 8.31%. Operating income will maintain its 2017-2023 average margin of 15.86%, effectively implying that operating income will grow at the same pace as revenue, 8.31%.

This model suggests that if PayPal follows these growth figures, the present fair value would be $58.76, indicating a modest 4.7% upside from the current stock price of $56.1. The future stock price of $111.08 suggests annual returns of 19.6%, which, while not as substantial as the previous model, seems more realistically optimistic. The prior model would require PayPal to more than double its current net income of $3.7 billion, a significant challenge given the recent downturn from Q2's TTM figure of $4.07 billion. Moreover, the EPS figures in the first model may be achievable through share repurchases, masking the actual figures that are on a downward trajectory.

Then why PayPal still falls despite it being hugely undervalued?

The major concern lies in the potential for rapid deterioration should such a scenario unfold. Expected user growth has already seen a significant decline, and this has a direct correlation with the revenue these companies can generate.

One striking observation from the data is the projected user growth of 5.85% in the 2023-2027 period, while revenue growth for 2023-2028 is estimated at 8.57%. This clear discrepancy implies that PayPal users would need to increase their spending significantly to help PayPal reach its revenue goals. The challenge arises from the fact that people primarily use PayPal for money transfers, and during tough economic times, this revenue source could diminish rapidly.

In addition, PayPal's decision to enter the world of cryptocurrencies is a notable development. However, in adverse economic conditions, the revenue that PayPal derives from this venture could quickly decline. Furthermore, PayPal's decision to repurchase shares might be perceived as a sign of desperation, and it has the potential to erode the company's cash reserves. As evident in the overview section, PayPal has already confirmed plans to repurchase shares worth $5 billion in 2024. Meanwhile, as indicated in the financials section, the company's current free cash flow stands at $2.5 billion, and even considering the 2020 figure of $5.19 billion, a share repurchase of such magnitude would equate to spending approximately 1 to 2 years' worth of free cash flow on buying back shares.

Additionally, it's worth noting that my models are all based on 6-year projections, while the majority of analysts tend to set targets for a 3-year timeframe. This difference significantly impacts the present fair value of stocks.

7.49% growth rate scenario

In this final model, I project PayPal's value with a more modest 7.49% revenue growth rate. This rate is derived from the transaction volume growth projection of 5.85%, augmented by the 1.97% gap between total transaction volume and transaction volume per user for the 2019-2023 period.

For the period 2019-2023, the average transaction value per user grew at a rate of 11.76%, which was more at pair with the user growth rate registered in that period of 9.79% annually, a 1.97% gap.

As indicated by this model, if PayPal attains these growth figures, the present fair value would be $56.60, representing a minor 0.9% upside from the current stock price of $56.1. The future stock price of $106.87 suggests annual returns of 18.1%, just slightly less than what the previous model indicated. This scenario takes into account a more conservative growth rate and is grounded in a more cautious assessment of PayPal's potential.

PayPal currently appears to be fairly valued, and in the near future, it may trade in a relatively flat pattern. As mentioned earlier, the growth in net income is insufficient to achieve the extremely optimistic valuation suggested in the first model. Additionally, with revenue only growing at 5.8%, questions arise about the feasibility of reaching the 8.31% revenue growth rate required in the second model.

Moreover, the financial decisions made by PayPal could potentially dampen the return rates projected by the last two models. Given these considerations, I am setting a target of $56.60 for PayPal and assigning it a "hold" rating.

It's important to note that the first scenario's potential is somewhat complicated by the Federal Reserve's efforts to reduce purchasing power and the persistence of inflation, which continues to impact people's finances. Therefore, in the near term, a downside seems more likely than a significant upside.

Risks to Thesis

The primary risk to this bearish thesis is the potential for PayPal to effectively encourage its users to significantly increase the volume of their transactions, ultimately achieving a sustained 14% total transaction volume growth by 2027.

Another potential upside is that PayPal could successfully reduce its expenses on the required scale to boost its EPS without resorting to share buybacks. This approach could have the most favorable impact on PayPal's shares. Nevertheless, it's essential to note that the already planned share repurchase program of $5 billion is set to reduce cash flow for 2024, which could pose a challenge.

However, it's worth mentioning that the feasibility of the first scenario is somewhat complicated by the Federal Reserve's efforts to reduce purchasing power and the persistent nature of inflation, which continues to impact people's financial situations. Consequently, in the near term, a downside seems more likely than a significant upside.

In conclusion, the assessment of PayPal's current financial position and future prospects reveals a nuanced picture. While optimistic growth scenarios have been considered, they appear to be tempered by several key factors. The declining trajectory of net income, coupled with challenges in achieving the necessary revenue growth, raises concerns about PayPal's ability to meet the aggressive valuation targets presented in the models. Moreover, the company's financial decisions, including a substantial share repurchase program, have the potential to hinder the envisioned returns. These considerations lead to a conservative target of $56.60 and a "hold" rating for PayPal, reflecting a cautious stance towards the company's near-term performance. Given the uncertain economic landscape, characterized by the Federal Reserve's efforts to reduce purchasing power and persistent inflation, a more restrained outlook for the stock's immediate future is warranted.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PYPL over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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