Discounted Cash Flow

Academy Sports & Outdoors, Inc.

ASO · 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)
2019 $4.8b $21.4m $90.6m 0.4% $0.30
2020 $4.8b (1.0%) $120.0m (459.8%) $200.9m (121.7%) 2.5% (454.5%) $1.66 (459.5%)
2021 $5.7b (17.8%) $308.8m (157.2%) $970.3m (383.1%) 5.4% (118.4%) $3.96 (139.0%)
2022 $6.8b (19.1%) $671.4m (117.4%) $597.5m (-38.4%) 9.9% (82.6%) $7.38 (86.5%)
2023 $6.4b (-5.6%) $628.0m (-6.5%) $443.7m (-25.7%) 9.8% (-0.9%) $7.70 (4.3%)
2024 $6.2b (-3.7%) $519.2m (-17.3%) $328.0m (-26.1%) 8.4% (-14.2%) $6.89 (-10.5%)
2025 $5.9b (-3.7%) $418.4m (-19.4%) $328.5m (0.1%) 7.1% (-16.3%) $5.87 (-14.8%)
2026 $6.1b (2.0%) $376.8m (-10.0%) $222.1m (-32.4%) 6.2% (-11.7%) $5.66 (-3.6%)

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