Discounted Cash Flow

Bank Bradesco ADR

BBDO · Based on 10 years of SEC filings · Converted from BRL 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 $147.7b $3.5b $6.2b 2.3% $5.88
2017 $126.2b (-14.5%) $3.3b (-4.5%) $6.9b (11.4%) 2.6% (11.7%) $5.61 (-4.6%)
2018 $122.1b (-3.3%) $3.2b (-3.0%) $-1.3b (-118.3%) 2.6% (0.4%) $4.96 (-11.6%)
2019 $124.4b (1.9%) $4.1b (26.8%) $-3.8b (-199.4%) 3.3% (24.4%) $5.23 (5.4%)
2020 $119.7b (-3.8%) $3.1b (-24.7%) $27.5b (832.2%) 2.6% (-21.7%) $3.59 (-31.4%)
2021 $138.2b (15.4%) $4.5b (46.3%) $-19.7b (-171.6%) 3.2% (26.8%) $4.78 (33.1%)
2022 $200.6b (45.1%) $4.0b (-9.4%) $7.8b (139.6%) 2.0% (-37.6%) $1.87 (-60.9%)
2023 $211.5b (5.4%) $2.7b (-32.1%) $-1.8b (-123.1%) 1.3% (-35.6%) $1.27 (-32.1%)
2024 $211.7b (0.1%) $3.3b (21.1%) $8.1b (552.7%) 1.6% (20.9%) $3.26 (156.7%)
2025 $267.1b (26.2%) $4.6b (37.2%) $-14.3b (-275.8%) 1.7% (8.8%) $4.48 (37.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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

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