Discounted Cash Flow

Criteo S.A. ADR

CRTO · 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 $1.8b $82.3m $153.5m 4.6% $1.30
2017 $2.3b (27.7%) $91.2m (10.9%) $245.5m (59.9%) 4.0% (-13.1%) $1.40 (7.7%)
2018 $2.3b (0.2%) $88.6m (-2.8%) $260.7m (6.2%) 3.9% (-3.0%) $1.33 (-5.0%)
2019 $2.3b (-1.7%) $90.7m (2.4%) $222.8m (-14.5%) 4.0% (4.1%) $1.41 (6.0%)
2020 $2.1b (-8.4%) $71.7m (-21.0%) $185.4m (-16.8%) 3.5% (-13.8%) $1.18 (-16.3%)
2021 $2.3b (8.8%) $134.5m (87.6%) $220.9m (19.2%) 6.0% (72.5%) $2.21 (87.3%)
2022 $2.0b (-10.5%) $9.0m (-93.3%) $256.0m (15.9%) 0.4% (-92.6%) $0.15 (-93.2%)
2023 $1.9b (-3.3%) $53.3m (494.9%) $224.2m (-12.4%) 2.7% (515.6%) $0.95 (533.3%)
2024 $1.9b (-0.8%) $111.6m (109.5%) $258.2m (15.1%) 5.8% (111.2%) $2.04 (114.7%)
2025 $1.9b (0.6%) $144.6m (29.6%) $311.2m (20.6%) 7.4% (28.8%) $2.73 (33.8%)

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