Discounted Cash Flow

Business First Bancshares, Inc.

BFST · 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 $37.6m $5.1m $6.7m 13.6% $0.73
2017 $44.4m (18.0%) $4.8m (-5.1%) $7.5m (10.6%) 10.9% (-19.6%) $0.63 (-13.7%)
2018 $2.8m (-93.7%) $14.1m (190.7%) $18.4m (146.0%) 501.5% (4489.7%) $1.27 (101.6%)
2019 $4.0m (43.6%) $23.8m (68.7%) $20.5m (11.5%) 589.1% (17.5%) $1.79 (40.9%)
2020 $5.4m (32.8%) $30.0m (26.2%) $26.4m (28.9%) 559.8% (-5.0%) $1.65 (-7.8%)
2021 $6.8m (27.2%) $52.1m (73.8%) $52.5m (99.0%) 765.2% (36.7%) $2.54 (53.9%)
2022 $8.3m (21.4%) $54.3m (4.2%) $61.8m (17.8%) 656.4% (-14.2%) $2.34 (-7.9%)
2023 $9.7m (17.3%) $71.0m (30.8%) $80.8m (30.7%) 732.1% (11.5%) $2.62 (12.0%)
2024 $10.6m (9.0%) $65.1m (-8.4%) $59.8m (-25.9%) 615.6% (-15.9%) $2.27 (-13.4%)
2025 $10.7m (1.2%) $87.9m (34.9%) $92.0m (53.8%) 820.8% (33.3%) $2.81 (23.8%)

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