Discounted Cash Flow

Broadridge Financial Solutions, Inc.

BR · 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 $2.9b $307.5m $380.0m 10.6% $2.60
2017 $4.1b (43.0%) $326.7m (6.2%) $430.5m (13.3%) 7.9% (-25.7%) $2.77 (6.5%)
2018 $4.3b (4.5%) $427.9m (31.0%) $616.9m (43.3%) 9.9% (25.3%) $3.66 (32.1%)
2019 $4.4b (0.7%) $482.1m (12.7%) $566.4m (-8.2%) 11.1% (11.8%) $4.16 (13.7%)
2020 $4.5b (3.8%) $462.5m (-4.1%) $535.5m (-5.5%) 10.2% (-7.6%) $4.03 (-3.1%)
2021 $5.0b (10.3%) $547.5m (18.4%) $588.2m (9.8%) 11.0% (7.4%) $4.73 (17.4%)
2022 $5.7b (14.3%) $539.1m (-1.5%) $414.5m (-29.5%) 9.4% (-13.9%) $4.62 (-2.3%)
2023 $6.1b (6.2%) $630.6m (17.0%) $784.9m (89.4%) 10.4% (10.2%) $5.36 (16.0%)
2024 $6.5b (7.4%) $698.1m (10.7%) $998.8m (27.3%) 10.7% (3.1%) $5.93 (10.6%)
2025 $6.9b (5.9%) $839.5m (20.3%) $1.1b (12.9%) 12.2% (13.6%) $7.17 (20.9%)

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