Discounted Cash Flow

Equifax Inc.

EFX · 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 $3.1b $488.8m $622.3m 15.5% $4.10
2017 $3.4b (6.9%) $587.3m (20.2%) $597.8m (-3.9%) 17.5% (12.4%) $4.89 (19.3%)
2018 $3.4b (1.5%) $299.8m (-49.0%) $350.3m (-41.4%) 8.8% (-49.7%) $2.49 (-49.1%)
2019 $3.5b (2.8%) $-398.8m (-233.0%) $-85.8m (-124.5%) -11.4% (-229.4%) $-3.30 (-232.5%)
2020 $4.1b (17.7%) $520.1m (230.4%) $524.9m (711.8%) 12.6% (210.8%) $4.28 (229.7%)
2021 $4.9b (19.3%) $744.2m (43.1%) $865.8m (64.9%) 15.1% (19.9%) $6.11 (42.8%)
2022 $5.1b (4.0%) $696.2m (-6.4%) $132.6m (-84.7%) 13.6% (-10.1%) $5.69 (-6.9%)
2023 $5.3b (2.8%) $545.3m (-21.7%) $515.5m (288.8%) 10.4% (-23.8%) $4.44 (-22.0%)
2024 $5.7b (7.9%) $604.1m (10.8%) $813.0m (57.7%) 10.6% (2.7%) $4.88 (9.9%)
2025 $6.1b (6.9%) $660.3m (9.3%) $1.1b (39.5%) 10.9% (2.2%) $5.36 (9.8%)

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