Discounted Cash Flow

Axcelis Technologies Inc.

ACLS · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $267.0m $11.0m $-11.3m 4.1% $0.38
2017 $410.6m (53.8%) $127.0m (1054.1%) $49.0m (533.4%) 30.9% (650.5%) $4.11 (981.6%)
2018 $442.6m (7.8%) $45.9m (-63.9%) $42.2m (-13.8%) 10.4% (-66.5%) $1.42 (-65.5%)
2019 $343.0m (-22.5%) $17.0m (-62.9%) $-25.6m (-160.5%) 5.0% (-52.1%) $0.52 (-63.4%)
2020 $474.6m (38.4%) $50.0m (193.4%) $62.3m (343.6%) 10.5% (112.1%) $1.50 (188.5%)
2021 $662.4m (39.6%) $98.7m (97.4%) $141.5m (127.2%) 14.9% (41.4%) $2.94 (96.0%)
2022 $920.0m (38.9%) $183.1m (85.6%) $204.9m (44.9%) 19.9% (33.6%) $5.54 (88.4%)
2023 $1.1b (22.9%) $246.3m (34.5%) $136.2m (-33.5%) 21.8% (9.5%) $7.52 (35.7%)
2024 $1.0b (-10.0%) $201.0m (-18.4%) $128.6m (-5.6%) 19.7% (-9.3%) $6.17 (-18.0%)
2025 $839.0m (-17.6%) $120.2m (-40.2%) $107.0m (-16.8%) 14.3% (-27.4%) $3.81 (-38.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model