Discounted Cash Flow

Benchmark Electronics Inc.

BHE · 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 $2.3b $64.0m $242.6m 2.8% $1.30
2017 $2.5b (6.8%) $-32.0m (-149.9%) $95.1m (-60.8%) -1.3% (-146.7%) $-0.64 (-149.2%)
2018 $2.6b (4.0%) $22.8m (171.4%) $13.9m (-85.4%) 0.9% (168.6%) $0.49 (176.6%)
2019 $2.3b (-11.6%) $23.4m (2.7%) $60.6m (336.3%) 1.0% (16.2%) $0.61 (24.5%)
2020 $2.1b (-6.1%) $14.1m (-40.0%) $85.9m (41.8%) 0.7% (-36.1%) $0.38 (-37.7%)
2021 $2.3b (10.1%) $35.8m (154.5%) $-41.4m (-148.2%) 1.5% (131.2%) $1.00 (163.2%)
2022 $3.0b (28.4%) $68.2m (90.7%) $-220.8m (-433.2%) 2.3% (48.5%) $1.94 (94.0%)
2023 $3.0b (-1.5%) $64.3m (-5.7%) $100.8m (145.7%) 2.2% (-4.3%) $1.81 (-6.7%)
2024 $2.8b (-7.0%) $63.3m (-1.5%) $157.9m (56.6%) 2.3% (5.8%) $1.76 (-2.8%)
2025 $2.7b (-0.4%) $24.9m (-60.8%) $88.4m (-44.1%) 0.9% (-60.6%) $0.69 (-60.8%)

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