Discounted Cash Flow

Macro Bank Inc. ADR

BMA · 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)
2017 $55.8b $5.9b $-26.1b 10.6% $9.43
2018 $74.7b (33.9%) $-701.2m (-111.8%) $111.8b (528.6%) -0.9% (-108.8%) $-1.06 (-111.2%)
2019 $151.6b (102.8%) $20.7b (3044.9%) $16.4b (-85.3%) 13.6% (1552.1%) $32.30 (3146.8%)
2020 $157.1b (3.6%) $26.2b (26.7%) $119.8b (631.7%) 16.7% (22.2%) $40.90 (26.7%)
2021 $1.1t (617.8%) $22.9b (-12.5%) $2.8b (-97.6%) 2.0% (-87.8%) $35.77 (-12.5%)
2022 $3.3t (190.9%) $40.8b (78.2%) $352.8b (12304.3%) 1.2% (-38.7%) $63.76 (78.2%)
2023 $8.1t (146.3%) $587.3b (1340.7%) $-248.7b (-170.5%) 7.3% (484.8%) $918.54 (1340.7%)
2024 $5.9t (-26.4%) $325.5b (-44.6%) $1.8t (839.1%) 5.5% (-24.7%) $509.06 (-44.6%)
2025 $3.1t (-48.3%) $289.5b (-11.1%) $555.2b (-69.8%) 9.4% (72.1%) $452.75 (-11.1%)

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