Discounted Cash Flow

Banco Bilbao Vizcaya Argentaria, S.A. ADR

BBVA · 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 $27.7b $3.5b $-1.7b 12.5% $0.49
2017 $29.3b (5.7%) $3.5b (1.3%) $2.1b (221.0%) 12.0% (-4.2%) $0.48 (-2.0%)
2018 $29.8b (1.8%) $5.3b (51.3%) $8.7b (321.6%) 17.8% (48.6%) $0.76 (58.3%)
2019 $31.1b (4.1%) $3.5b (-34.0%) $-8.2b (-194.8%) 11.3% (-36.6%) $0.47 (-38.2%)
2020 $22.4b (-27.9%) $1.3b (-62.8%) $1.3b (115.9%) 5.8% (-48.4%) $0.14 (-70.2%)
2021 $23.0b (2.8%) $4.7b (256.6%) $-1.2b (-195.2%) 20.2% (246.9%) $0.67 (378.6%)
2022 $29.1b (26.6%) $6.4b (38.0%) $21.3b (1813.1%) 22.0% (9.0%) $0.99 (47.8%)
2023 $42.1b (44.6%) $8.0b (24.9%) $-2.5b (-111.9%) 19.0% (-13.6%) $1.29 (30.3%)
2024 $55.2b (31.0%) $10.1b (25.4%) $-20.2b (-695.0%) 18.2% (-4.3%) $1.68 (30.2%)
2025 $52.8b (-4.4%) $10.5b (4.5%) $13.2b (165.2%) 19.9% (9.3%) $1.76 (4.8%)

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