Discounted Cash Flow

Cardinal Health Inc.

CAH · 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 $121.5b $1.4b $2.5b 1.2% $4.36
2017 $130.0b (6.9%) $1.1b (-20.0%) $797.0m (-68.2%) 0.9% (-25.2%) $4.06 (-6.9%)
2018 $136.8b (5.3%) $256.0m (-77.6%) $2.4b (199.1%) 0.2% (-78.7%) $0.82 (-79.8%)
2019 $145.5b (6.4%) $1.4b (432.4%) $2.4b (0.4%) 0.9% (400.5%) $4.55 (454.9%)
2020 $152.9b (5.1%) $-3.7b (-371.2%) $1.6b (-33.8%) -2.4% (-358.1%) $-12.61 (-377.1%)
2021 $162.5b (6.2%) $611.0m (116.5%) $2.0b (28.0%) 0.4% (115.6%) $2.09 (116.6%)
2022 $181.4b (11.6%) $-933.0m (-252.7%) $2.7b (34.8%) -0.5% (-236.8%) $-3.35 (-260.3%)
2023 $205.0b (13.0%) $261.0m (128.0%) $2.4b (-13.8%) 0.1% (124.7%) $1.00 (129.9%)
2024 $226.8b (10.6%) $852.0m (226.4%) $3.3b (37.9%) 0.4% (195.0%) $3.48 (248.0%)
2025 $222.6b (-1.9%) $1.6b (83.2%) $1.9b (-43.1%) 0.7% (86.7%) $6.48 (86.2%)

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