Discounted Cash Flow

Enterprise Products Partners L.P. LP

EPD · 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 $23.0b $2.5b $1.0b 10.9% $1.20
2017 $29.2b (27.0%) $2.8b (11.4%) $1.5b (45.8%) 9.6% (-12.3%) $1.30 (8.3%)
2018 $36.5b (24.9%) $4.2b (49.1%) $1.9b (25.3%) 11.4% (19.3%) $1.91 (46.9%)
2019 $32.8b (-10.3%) $4.6b (10.0%) $2.0b (4.5%) 14.0% (22.6%) $2.09 (9.4%)
2020 $27.2b (-17.0%) $3.8b (-17.8%) $2.6b (30.9%) 13.9% (-0.9%) $1.71 (-18.2%)
2021 $40.8b (50.0%) $4.6b (22.8%) $6.3b (141.6%) 11.4% (-18.2%) $2.11 (23.4%)
2022 $58.2b (42.6%) $5.5b (18.4%) $6.1b (-3.4%) 9.4% (-17.0%) $2.50 (18.5%)
2023 $49.7b (-14.6%) $5.5b (0.8%) $4.3b (-29.2%) 11.1% (17.9%) $2.52 (0.8%)
2024 $56.2b (13.1%) $5.9b (6.7%) $3.6b (-17.0%) 10.5% (-5.7%) $2.69 (6.7%)
2025 $52.6b (-6.4%) $5.8b (-1.5%) $3.0b (-17.0%) 11.0% (5.3%) $2.66 (-1.1%)

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