Discounted Cash Flow

Corcept Therapeutics Inc.

CORT · 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 $8.1m $18.2m $0.07
2017 $129.1m (1486.3%) $60.5m (232.6%) $1.14 (1528.6%)
2018 $251.2m $75.4m (-41.6%) $115.4m (90.6%) 30.0% $0.65 (-43.0%)
2019 $306.5m (22.0%) $94.2m (24.9%) $135.0m (17.0%) 30.7% (2.4%) $0.82 (26.2%)
2020 $353.9m (15.5%) $106.0m (12.6%) $150.7m (11.6%) 30.0% (-2.5%) $0.92 (12.2%)
2021 $366.0m (3.4%) $112.5m (6.1%) $167.4m (11.1%) 30.7% (2.6%) $0.97 (5.4%)
2022 $401.9m (9.8%) $101.4m (-9.9%) $119.9m (-28.4%) 25.2% (-17.9%) $0.95 (-2.1%)
2023 $482.4m (20.0%) $106.1m (4.7%) $126.9m (5.8%) 22.0% (-12.8%) $1.02 (7.4%)
2024 $675.0m (39.9%) $141.2m (33.0%) $195.9m (54.4%) 20.9% (-4.9%) $1.35 (32.4%)
2025 $761.4m (12.8%) $99.7m (-29.4%) $141.8m (-27.6%) 13.1% (-37.4%) $0.95 (-29.6%)

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