Discounted Cash Flow

Andersons, Inc.

ANDE · 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 $3.9b $11.6m $-38.2m 0.3% $0.41
2017 $3.7b (-6.1%) $42.5m (266.7%) $40.7m (206.6%) 1.2% (290.4%) $1.51 (268.3%)
2018 $898.9m (-75.6%) $41.5m (-2.4%) $-178.1m (-537.8%) 4.6% (300.2%) $1.47 (-2.6%)
2019 $1.4b (54.8%) $18.3m (-55.9%) $18.3m (110.3%) 1.3% (-71.5%) $0.56 (-61.9%)
2020 $1.5b (9.7%) $7.7m (-57.9%) $-151.6m (-928.0%) 0.5% (-61.6%) $0.23 (-58.9%)
2021 $2.2b (44.8%) $104.0m (1248.7%) $-126.8m (16.3%) 4.7% (831.3%) $3.12 (1256.5%)
2022 $3.0b (37.3%) $131.1m (26.1%) $178.8m (241.0%) 4.3% (-8.2%) $3.89 (24.7%)
2023 $3.2b (5.4%) $101.2m (-22.8%) $796.3m (345.3%) 3.2% (-26.8%) $3.00 (-22.9%)
2024 $11.3b (251.6%) $114.0m (12.7%) $182.3m (-77.1%) 1.0% (-68.0%) $3.35 (11.7%)
2025 $1.5b (-86.4%) $95.7m (-16.1%) $-56.1m (-130.8%) 6.3% (517.3%) $2.81 (-16.1%)

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