Discounted Cash Flow

Colliers International Group Inc. Foreign

CIGI · 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 $1.9b $68.0m $131.2m 3.6% $1.76
2017 $2.3b (20.0%) $49.3m (-27.4%) $173.4m (32.1%) 2.2% (-39.5%) $1.32 (-25.0%)
2018 $2.8b (24.2%) $97.7m (98.0%) $221.9m (28.0%) 3.5% (59.5%) $2.49 (88.6%)
2019 $3.0b (7.8%) $102.9m (5.4%) $266.6m (20.1%) 3.4% (-2.3%) $2.60 (4.4%)
2020 $2.9b (-6.0%) $49.1m (-52.3%) $126.1m (-52.7%) 1.7% (-49.3%) $1.23 (-52.7%)
2021 $4.2b (47.7%) $-390.3m (-895.4%) $231.0m (83.2%) -9.2% (-638.6%) $-9.09 (-839.0%)
2022 $4.5b (5.5%) $46.3m (111.8%) $-650.0k (-100.3%) 1.0% (111.2%) $1.07 (111.8%)
2023 $4.3b (-2.8%) $65.5m (41.7%) $81.1m (12582.6%) 1.5% (45.8%) $1.43 (33.6%)
2024 $4.8b (11.2%) $161.7m (146.7%) $260.9m (221.6%) 3.4% (121.8%) $3.24 (126.6%)
2025 $5.6b (15.3%) $103.1m (-36.2%) $251.4m (-3.6%) 1.9% (-44.7%) $2.03 (-37.3%)

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