Discounted Cash Flow

Citizens & Northern Corp.

CZNC · 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 $15.8m $16.9m $1.30
2017 $13.4m (-14.8%) $17.7m (4.4%) $1.10 (-15.4%)
2018 $22.0m (63.9%) $24.7m (39.9%) $1.79 (62.7%)
2019 $19.5m (-11.4%) $19.6m (-20.8%) $1.46 (-18.4%)
2020 $19.2m (-1.4%) $21.6m (10.5%) $1.30 (-11.0%)
2021 $30.6m (59.0%) $33.0m (52.4%) $1.92 (47.7%)
2022 $26.6m (-12.9%) $31.3m (-5.1%) $1.71 (-10.9%)
2023 $24.1m (-9.3%) $31.3m (-0.1%) $1.57 (-8.2%)
2024 $26.0m (7.5%) $31.1m (-0.5%) $1.69 (7.6%)
2025 $23.4m (-9.8%) $30.1m (-3.3%) $1.46 (-13.6%)

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