Discounted Cash Flow

California Water Service Group

CWT · 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 $609.4m $48.7m $159.7m 8.0% $1.02
2017 $666.9m (9.4%) $67.2m (38.0%) $147.8m (-7.4%) 10.1% (26.1%) $1.40 (37.3%)
2018 $698.2m (4.7%) $65.6m (-2.4%) $179.0m (21.1%) 9.4% (-6.8%) $1.36 (-2.9%)
2019 $714.6m (2.3%) $63.1m (-3.8%) $168.8m (-5.7%) 8.8% (-6.0%) $1.31 (-3.7%)
2020 $794.3m (11.2%) $96.8m (53.4%) $117.9m (-30.1%) 12.2% (38.0%) $1.97 (50.4%)
2021 $790.9m (-0.4%) $101.1m (4.4%) $231.7m (96.5%) 12.8% (4.9%) $1.96 (-0.5%)
2022 $846.4m (7.0%) $96.0m (-5.1%) $-84.0m (-136.2%) 11.3% (-11.3%) $1.77 (-9.7%)
2023 $794.6m (-6.1%) $51.9m (-45.9%) $-165.9m (-97.6%) 6.5% (-42.4%) $0.91 (-48.6%)
2024 $1.0b (30.5%) $190.8m (267.6%) $-179.9m (-8.4%) 18.4% (181.7%) $3.26 (258.2%)
2025 $1.0b (-3.5%) $128.2m (-32.8%) $-214.4m (-19.2%) 12.8% (-30.3%) $2.15 (-34.0%)

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