Discounted Cash Flow

Badger Meter Inc.

BMI · 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 $393.8m $32.3m $45.6m 8.2% $1.12
2017 $402.4m (2.2%) $34.6m (7.0%) $34.7m (-23.9%) 8.6% (4.7%) $1.20 (7.1%)
2018 $433.7m (7.8%) $27.8m (-19.6%) $51.7m (49.1%) 6.4% (-25.4%) $0.96 (-20.0%)
2019 $424.6m (-2.1%) $47.2m (69.8%) $73.2m (41.6%) 11.1% (73.4%) $1.63 (69.8%)
2020 $425.5m (0.2%) $49.3m (4.6%) $80.5m (10.0%) 11.6% (4.4%) $1.70 (4.3%)
2021 $505.2m (18.7%) $60.9m (23.4%) $80.8m (0.3%) 12.1% (3.9%) $2.09 (22.9%)
2022 $565.6m (11.9%) $66.5m (9.2%) $76.6m (-5.2%) 11.8% (-2.4%) $2.28 (9.1%)
2023 $703.6m (24.4%) $92.6m (39.3%) $98.1m (28.2%) 13.2% (11.9%) $3.16 (38.6%)
2024 $826.6m (17.5%) $124.9m (34.9%) $142.2m (44.9%) 15.1% (14.9%) $4.26 (34.8%)
2025 $916.7m (10.9%) $141.6m (13.4%) $169.7m (19.3%) 15.5% (2.2%) $4.82 (13.1%)

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