Discounted Cash Flow

Banco Santander (Brasil) S.A. ADR

BSBR · 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 $77.1b $7.3b $6.7b 9.5%
2017 $71.4b (-7.4%) $8.9b (21.7%) $50.3b (645.2%) 12.5% (31.4%)
2018 $70.5b (-1.3%) $12.6b (41.0%) $8.3b (-83.5%) 17.9% (42.9%)
2019 $72.8b (3.4%) $16.4b (30.4%) $24.9b (200.5%) 22.5% (26.2%)
2020 $62.8b (-13.8%) $13.4b (-18.2%) $42.3b (70.1%) 21.4% (-5.1%)
2021 $78.0b (24.2%) $15.5b (15.7%) $6.8b (-83.9%) 19.9% (-6.9%)
2022 $115.2b (47.7%) $14.3b (-8.0%) $4.0b (-41.5%) 12.4% (-37.7%)
2023 $128.3b (11.3%) $9.4b (-33.9%) $33.3b (735.0%) 7.4% (-40.6%)
2024 $137.2b (6.9%) $13.4b (41.4%) $-23.7b (-171.4%) 9.7% (32.3%)
2025 $162.5b (18.5%) $12.8b (-4.5%) $1.3b (105.6%) 7.9% (-19.4%)

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