Discounted Cash Flow

Cass Information Systems Inc.

CASS · 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 $125.5m $24.3m $-8.2m 19.4% $2.18
2017 $135.3m (7.8%) $25.0m (2.7%) $34.8m (526.2%) 18.5% (-4.7%) $2.04 (-6.4%)
2018 $148.3m (9.6%) $30.3m (21.0%) $43.9m (26.4%) 20.4% (10.4%) $2.06 (1.0%)
2019 $157.2m (6.0%) $30.4m (0.4%) $39.4m (-10.3%) 19.3% (-5.3%) $2.11 (2.4%)
2020 $145.0m (-7.8%) $25.2m (-17.2%) $45.8m (16.2%) 17.4% (-10.2%) $1.75 (-17.1%)
2021 $109.7m (-24.3%) $28.6m (13.6%) $30.2m (-34.1%) 26.1% (50.1%) $2.03 (16.0%)
2022 $125.0m (13.9%) $34.9m (22.0%) $45.7m (51.6%) 27.9% (7.1%) $2.58 (27.1%)
2023 $130.5m (4.4%) $30.1m (-13.9%) $22.6m (-50.6%) 23.0% (-17.5%) $2.22 (-14.0%)
2024 $131.8m (1.1%) $19.2m (-36.2%) $29.6m (31.0%) 14.5% (-36.9%) $1.42 (-36.0%)
2025 $108.0m (-18.1%) $35.1m (83.2%) $31.8m (7.3%) 32.5% (123.7%) $2.66 (87.3%)

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