Discounted Cash Flow

Dover Corp.

DOV · 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 $6.8b $508.9m $696.8m 7.5% $3.28
2017 $7.8b (15.2%) $811.7m (59.5%) $624.8m (-10.3%) 10.4% (38.4%) $5.21 (58.8%)
2018 $7.0b (-10.7%) $570.3m (-29.7%) $618.2m (-1.1%) 8.2% (-21.3%) $3.80 (-27.1%)
2019 $7.1b (2.1%) $677.9m (18.9%) $758.5m (22.7%) 9.5% (16.5%) $4.67 (22.9%)
2020 $6.7b (-6.3%) $683.5m (0.8%) $939.1m (23.8%) 10.2% (7.6%) $4.74 (1.5%)
2021 $7.9b (18.3%) $1.1b (64.4%) $944.4m (0.6%) 14.2% (39.0%) $7.81 (64.8%)
2022 $8.5b (7.6%) $1.1b (-5.2%) $584.8m (-38.1%) 12.5% (-11.9%) $7.47 (-4.4%)
2023 $8.4b (-0.8%) $1.1b (-0.8%) $1.1b (95.6%) 12.5% (0.0%) $7.56 (1.2%)
2024 $7.7b (-8.2%) $2.7b (155.2%) $920.3m (-19.5%) 34.8% (178.0%) $19.58 (159.0%)
2025 $8.1b (4.5%) $1.1b (-59.4%) $1.1b (21.5%) 13.5% (-61.2%) $7.99 (-59.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

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