Discounted Cash Flow

Chemed Corp.

CHE · 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 $1.6b $108.7m $95.6m 6.9% $6.64
2017 $1.7b (5.7%) $98.2m (-9.7%) $98.2m (2.7%) 5.9% (-14.6%) $6.11 (-8.0%)
2018 $1.2b (-28.1%) $205.5m (109.4%) $234.3m (138.6%) 17.2% (191.4%) $12.80 (109.5%)
2019 $1.3b (7.0%) $219.9m (7.0%) $248.2m (6.0%) 17.2% (0.0%) $13.77 (7.6%)
2020 $1.3b (4.2%) $319.5m (45.3%) $430.5m (73.4%) 23.9% (39.4%) $20.02 (45.4%)
2021 $1.3b (-5.5%) $268.6m (-15.9%) $249.9m (-41.9%) 21.3% (-11.0%) $17.14 (-14.4%)
2022 $1.2b (-4.7%) $249.6m (-7.0%) $252.6m (1.1%) 20.8% (-2.4%) $16.72 (-2.5%)
2023 $1.3b (9.4%) $272.5m (9.2%) $273.4m (8.3%) 20.7% (-0.3%) $18.11 (8.3%)
2024 $1.5b (16.4%) $302.0m (10.8%) $368.0m (34.6%) 19.7% (-4.8%) $20.10 (11.0%)
2025 $2.5b (65.3%) $265.2m (-12.2%) $325.5m (-11.5%) 10.5% (-46.9%) $18.42 (-8.4%)

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