Discounted Cash Flow

Citizens Financial Services Inc.

CZFS · 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
Dividends

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 $45.9m $12.6m $16.2m 27.6% $3.78
2017 $50.9m (11.0%) $13.0m (3.1%) $15.7m (-2.8%) 25.6% (-7.2%) $3.74 (-1.1%)
2018 $54.9m (7.9%) $18.0m (38.5%) $21.5m (36.5%) 32.8% (28.3%) $5.14 (37.4%)
2019 $58.3m (6.2%) $19.5m (8.1%) $21.8m (1.3%) 33.4% (1.8%) $5.54 (7.8%)
2020 $73.6m (26.2%) $25.1m (28.8%) $11.8m (-45.7%) 34.1% (2.1%) $6.60 (19.1%)
2021 $78.4m (6.5%) $29.1m (16.0%) $38.7m (227.3%) 37.1% (8.9%) $7.38 (11.8%)
2022 $81.9m (4.4%) $29.1m (-0.2%) $31.6m (-18.3%) 35.5% (-4.4%) $7.32 (-0.8%)
2023 $91.9m (12.2%) $17.8m (-38.7%) $23.9m (-24.3%) 19.4% (-45.4%) $4.06 (-44.5%)
2024 $101.9m (10.9%) $27.8m (56.2%) $31.9m (33.2%) 27.3% (40.9%) $5.86 (44.3%)
2025 $112.3m (10.3%) $36.6m (31.5%) $35.2m (10.6%) 32.6% (19.2%) $7.62 (30.0%)

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