Discounted Cash Flow

Chewy, Inc.

CHWY · 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)
2018 $2.1b $-338.1m $-120.0m -16.1%
2019 $3.5b (67.9%) $-267.9m (20.8%) $-57.6m (52.0%) -7.6% (52.8%)
2020 $4.8b (37.2%) $-252.4m (5.8%) $-2.1m (96.4%) -5.2% (31.3%) $-0.63
2021 $7.1b (47.4%) $-92.5m (63.4%) $2.0m (197.9%) -1.3% (75.1%) $-0.23 (63.5%)
2022 $8.9b (24.4%) $-73.8m (20.2%) $8.6m (325.1%) -0.8% (35.8%) $-0.18 (21.7%)
2023 $10.1b (13.6%) $49.2m (166.7%) $119.3m (1294.6%) 0.5% (158.7%) $0.12 (164.8%)
2024 $11.1b (10.4%) $39.6m (-19.6%) $342.9m (187.5%) 0.4% (-27.2%) $0.09 (-20.9%)
2025 $11.9b (6.4%) $392.7m (892.3%) $452.5m (31.9%) 3.3% (832.6%) $0.93 (911.4%)
2026 $12.6b (6.2%) $222.8m (-43.3%) $562.4m (24.3%) 1.8% (-46.6%) $0.54 (-42.3%)

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