Discounted Cash Flow

Autohome Inc. ADR

ATHM · Based on 10 years of SEC filings · Converted from CNY to USD

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 $858.7m $26.2m $32.8m 3.0% $1.55
2017 $954.5m (11.2%) $45.5m (73.9%) $54.3m (65.7%) 4.8% (56.5%) $2.64 (70.3%)
2018 $1.1b (10.2%) $61.8m (35.7%) $64.5m (18.9%) 5.9% (23.1%) $3.55 (34.5%)
2019 $1.2b (15.0%) $68.0m (10.1%) $57.1m (-11.5%) 5.6% (-4.3%) $3.88 (9.3%)
2020 $1.3b (9.7%) $77.2m (13.5%) $69.4m (21.7%) 5.8% (3.5%) $1.09 (-71.9%)
2021 $1.1b (-14.4%) $52.2m (-32.4%) $76.8m (10.5%) 4.6% (-21.0%) $0.67 (-38.5%)
2022 $1.0b (-11.4%) $39.8m (-23.8%) $377.1m (391.3%) 4.0% (-14.0%) $0.52 (-22.4%)
2023 $1.0b (0.6%) $40.3m (1.3%) $361.2m (-4.2%) 4.0% (0.8%) $0.54 (3.8%)
2024 $964.4m (-4.7%) $34.1m (-15.5%) $200.4m (-44.5%) 3.5% (-11.4%) $0.46 (-14.8%)
2025 $922.6m (-4.3%) $30.5m (-10.4%) $129.1m (-35.6%) 3.3% (-6.4%) $0.42 (-8.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.

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