Discounted Cash Flow

Citizens Financial Group Inc./Ri

CFG · 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 $5.3b $1.0b $1.5b 19.9% $1.97
2017 $5.7b (8.6%) $1.7b (58.1%) $1.9b (26.4%) 28.9% (45.6%) $3.26 (65.5%)
2018 $6.1b (7.4%) $1.7b (4.2%) $1.8b (-6.2%) 28.1% (-3.0%) $3.54 (8.6%)
2019 $1.2b (-80.9%) $1.8b (4.1%) $1.6b (-11.1%) 152.8% (444.1%) $3.82 (7.9%)
2020 $1.1b (-7.8%) $1.1b (-41.0%) $111.0m (-92.9%) 97.9% (-36.0%) $2.22 (-41.9%)
2021 $1.3b (22.7%) $2.3b (119.4%) $2.3b (1949.5%) 175.0% (78.8%) $5.18 (133.3%)
2022 $1.3b (-2.0%) $2.1b (-10.6%) $4.0b (75.5%) 159.6% (-8.8%) $4.12 (-20.5%)
2023 $1.3b (-2.5%) $1.6b (-22.4%) $2.8b (-30.2%) 127.0% (-20.4%) $3.14 (-23.8%)
2024 $1.5b (21.1%) $1.5b (-6.2%) $1.9b (-32.6%) 98.4% (-22.5%) $3.05 (-2.9%)
2025 $1.6b (6.7%) $1.8b (21.3%) $2.0b (8.4%) 112.0% (13.8%) $3.90 (27.9%)

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