Discounted Cash Flow

Energizer Holdings, Inc.

ENR · 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 $1.6b $127.7m $165.2m 7.8% $2.06
2017 $1.8b (7.4%) $201.5m (57.8%) $172.0m (4.1%) 11.5% (46.9%) $3.27 (58.7%)
2018 $1.8b (2.4%) $93.5m (-53.6%) $204.5m (18.9%) 5.2% (-54.7%) $1.56 (-52.3%)
2019 $2.5b (38.8%) $51.1m (-45.3%) $94.4m (-53.8%) 2.0% (-60.6%) $0.59 (-62.2%)
2020 $2.7b (10.0%) $-93.3m (-282.6%) $311.1m (229.6%) -3.4% (-265.9%) $-1.59 (-369.5%)
2021 $3.0b (10.1%) $160.9m (272.5%) $114.8m (-63.1%) 5.3% (256.7%) $2.12 (233.3%)
2022 $3.1b (0.9%) $-231.5m (-243.9%) $-76.8m (-166.9%) -7.6% (-242.5%) $-3.37 (-259.0%)
2023 $3.0b (-3.0%) $140.5m (160.7%) $338.4m (540.6%) 4.7% (162.5%) $1.97 (158.5%)
2024 $2.9b (-2.5%) $38.1m (-72.9%) $331.7m (-2.0%) 1.3% (-72.2%) $0.53 (-73.1%)
2025 $3.0b (2.3%) $239.0m (527.3%) $63.2m (-80.9%) 8.1% (513.3%) $3.37 (535.8%)

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