Discounted Cash Flow

Axos Financial, Inc.

AX · 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 $261.0m $119.3m $210.6m 45.7% $1.85
2017 $313.2m (20.0%) $134.7m (13.0%) $223.9m (6.3%) 43.0% (-5.9%) $2.07 (11.9%)
2018 $368.5m (17.6%) $152.4m (13.1%) $167.9m (-25.0%) 41.4% (-3.9%) $2.41 (16.4%)
2019 $27.6m (-92.5%) $155.1m (1.8%) $204.4m (21.7%) 561.5% (1257.7%) $2.50 (3.7%)
2020 $33.8m (22.2%) $183.4m (18.2%) $284.1m (39.0%) 543.3% (-3.2%) $3.01 (20.4%)
2021 $538.7m (1495.7%) $215.7m (17.6%) $412.6m (45.2%) 40.0% (-92.6%) $3.64 (20.9%)
2022 $59.4m (-89.0%) $240.7m (11.6%) $195.1m (-52.7%) 405.0% (911.5%) $4.04 (11.0%)
2023 $65.3m (9.8%) $307.2m (27.6%) $166.5m (-14.7%) 470.7% (16.2%) $5.15 (27.5%)
2024 $64.6m (-1.0%) $450.0m (46.5%) $269.5m (61.9%) 696.2% (47.9%) $7.82 (51.8%)
2025 $65.8m (1.8%) $432.9m (-3.8%) $436.1m (61.8%) 658.0% (-5.5%) $7.61 (-2.7%)

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