Discounted Cash Flow

CNB Financial Corp./Pa

CCNE · 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 $20.5m $16.6m $1.42
2017 $23.9m (16.2%) $25.5m (53.5%) $1.57 (10.6%)
2018 $33.7m (41.3%) $40.7m (59.3%) $2.21 (40.8%)
2019 $40.1m (18.9%) $42.9m (5.3%) $2.63 (19.0%)
2020 $32.7m (-18.3%) $23.1m (-46.1%) $1.97 (-25.1%)
2021 $57.7m (76.2%) $52.4m (126.9%) $3.16 (60.4%)
2022 $63.2m (9.5%) $51.8m (-1.3%) $3.26 (3.2%)
2023 $58.0m (-8.2%) $36.2m (-30.1%) $2.56 (-21.5%)
2024 $54.6m (-5.9%) $55.2m (52.7%) $2.39 (-6.6%)
2025 $66.1m (21.2%) $58.7m (6.2%) $2.50 (4.6%)

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