Discounted Cash Flow

Axis Capital Holdings Ltd.

AXS · 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 $4.0b $513.4m $406.7m 12.8% $5.13
2017 $4.6b (14.6%) $-369.0m (-171.9%) $259.2m (-36.3%) -8.0% (-162.7%) $-4.94 (-196.3%)
2018 $5.1b (10.9%) $43.0m (111.7%) $10.8m (-95.8%) 0.8% (110.5%) $0.00 (100.0%)
2019 $5.2b (1.6%) $323.5m (651.9%) $199.0m (1747.2%) 6.3% (639.8%) $3.37
2020 $4.8b (-6.4%) $-120.4m (-137.2%) $343.5m (72.6%) -2.5% (-139.8%) $-1.79 (-153.1%)
2021 $5.3b (9.9%) $618.6m (613.7%) $1.1b (224.5%) 11.6% (567.4%) $6.95 (488.3%)
2022 $5.1b (-3.5%) $223.1m (-63.9%) $798.0m (-28.4%) 4.3% (-62.6%) $2.27 (-67.3%)
2023 $5.6b (9.9%) $376.3m (68.7%) $1.3b (57.3%) 6.7% (53.5%) $4.06 (78.9%)
2024 $6.0b (5.6%) $1.1b (187.5%) $1.8b (46.9%) 18.2% (172.3%) $12.49 (207.6%)
2025 $6.6b (10.2%) $1.0b (-6.7%) $-40.9m (-102.2%) 15.4% (-15.3%) $12.52 (0.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

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