Discounted Cash Flow

Aecom

ACM · 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 $17.4b $96.1m $622.8m 0.6% $0.62
2017 $18.2b (4.6%) $339.4m (253.1%) $610.3m (-2.0%) 1.9% (237.8%) $2.18 (251.6%)
2018 $20.2b (10.7%) $195.5m (-42.4%) $661.3m (8.4%) 1.0% (-48.0%) $0.86 (-60.6%)
2019 $20.2b (0.1%) $211.0m (7.9%) $677.0m (2.4%) 1.0% (7.8%) $-1.66 (-293.0%)
2020 $13.2b (-34.4%) $170.5m (-19.2%) $215.0m (-68.2%) 1.3% (23.1%) $-1.17 (29.5%)
2021 $13.3b (0.8%) $294.7m (72.9%) $568.4m (164.3%) 2.2% (71.6%) $1.18 (200.9%)
2022 $13.1b (-1.4%) $389.1m (32.0%) $576.6m (1.4%) 3.0% (34.0%) $2.21 (87.3%)
2023 $14.4b (9.4%) $114.1m (-70.7%) $590.4m (2.4%) 0.8% (-73.2%) $0.40 (-81.9%)
2024 $16.1b (12.0%) $505.9m (343.5%) $707.9m (19.9%) 3.1% (295.9%) $2.97 (642.5%)
2025 $16.1b (0.2%) $638.3m (26.2%) $684.9m (-3.2%) 4.0% (25.9%) $4.24 (42.8%)

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