Discounted Cash Flow

Duke Energy Corp.

DUK · 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 $22.7b $2.2b $5.8b 9.5% $3.11
2017 $23.6b (3.6%) $3.1b (42.1%) $5.6b (-3.4%) 13.0% (37.2%) $4.36 (40.2%)
2018 $24.5b (4.1%) $2.7b (-12.8%) $6.1b (8.4%) 10.9% (-16.2%) $3.76 (-13.8%)
2019 $25.1b (2.3%) $3.7b (40.6%) $6.9b (12.8%) 14.9% (37.5%) $5.06 (34.6%)
2020 $23.9b (-4.8%) $1.4b (-63.3%) $7.7b (12.9%) 5.8% (-61.4%) $1.72 (-66.0%)
2021 $25.1b (5.1%) $3.9b (183.8%) $7.0b (-10.0%) 15.6% (169.9%) $4.94 (187.2%)
2022 $28.8b (14.6%) $2.5b (-34.7%) $4.2b (-40.3%) 8.9% (-43.1%) $3.17 (-35.8%)
2023 $29.1b (1.0%) $2.8b (11.4%) $8.0b (91.5%) 9.8% (10.3%) $3.54 (11.7%)
2024 $30.4b (4.5%) $4.5b (59.2%) $10.4b (30.7%) 14.9% (52.4%) $5.71 (61.3%)
2025 $32.2b (6.2%) $5.0b (9.8%) $9.7b (-7.3%) 15.4% (3.4%) $6.31 (10.5%)

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