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
Dividends

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 $812.7m (-78.0%) $41.5m (-2.4%) $-178.1m (-537.8%) 5.1% (342.7%) $1.47 (-2.6%)
2019 $1.9b (132.0%) $18.3m (-55.9%) $183.3m (202.9%) 1.0% (-81.0%) $0.56 (-61.9%)
2020 $8.2b (335.3%) $7.7m (-57.9%) $-151.6m (-182.7%) 0.1% (-90.3%) $0.23 (-58.9%)
2021 $3.8b (-53.9%) $104.0m (1248.7%) $-126.8m (16.3%) 2.7% (2826.7%) $3.12 (1256.5%)
2022 $17.3b (358.0%) $131.1m (26.1%) $178.8m (241.0%) 0.8% (-72.5%) $3.89 (24.7%)
2023 $14.8b (-14.9%) $101.2m (-22.8%) $796.3m (345.3%) 0.7% (-9.3%) $3.00 (-22.9%)
2024 $11.3b (-23.7%) $114.0m (12.7%) $182.3m (-77.1%) 1.0% (47.6%) $3.35 (11.7%)
2025 $11.0b (-2.2%) $95.7m (-16.1%) $-56.1m (-130.8%) 0.9% (-14.2%) $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