Discounted Cash Flow

First Commonwealth Financial Corp. /Pa/

FCF · 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 $59.6m $82.2m $0.67
2017 $55.2m (-7.4%) $77.9m (-5.2%) $0.58 (-13.4%)
2018 $107.5m (94.9%) $125.7m (61.3%) $1.09 (87.9%)
2019 $105.3m (-2.0%) $90.3m (-28.2%) $1.07 (-1.8%)
2020 $73.4m (-30.3%) $98.1m (8.7%) $0.75 (-29.9%)
2021 $138.3m (88.2%) $154.4m (57.4%) $1.45 (93.3%)
2022 $128.2m (-7.3%) $140.2m (-9.2%) $1.37 (-5.5%)
2023 $157.1m (22.5%) $128.7m (-8.2%) $1.55 (13.1%)
2024 $142.6m (-9.2%) $113.9m (-11.5%) $1.40 (-9.7%)
2025 $152.3m (6.8%) $171.5m (50.5%) $1.48 (5.7%)

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