Discounted Cash Flow

First Interstate Bancsystem Inc.

FIBK · 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 $297.4m $95.6m $118.1m 32.2% $2.13
2017 $377.8m (27.0%) $106.5m (11.4%) $154.7m (31.0%) 28.2% (-12.3%) $2.07 (-2.8%)
2018 $473.4m (25.3%) $160.2m (50.4%) $220.2m (42.4%) 33.8% (20.0%) $2.77 (33.8%)
2019 $554.0m (17.0%) $181.0m (13.0%) $127.3m (-42.2%) 32.7% (-3.5%) $2.84 (2.5%)
2020 $523.6m (-5.5%) $161.2m (-10.9%) $268.3m (110.8%) 30.8% (-5.8%) $2.53 (-10.9%)
2021 $505.5m (-3.5%) $192.1m (19.2%) $282.3m (5.2%) 38.0% (23.4%) $3.12 (23.3%)
2022 $1.0b (102.1%) $202.2m (5.3%) $523.9m (85.6%) 19.8% (-47.9%) $1.96 (-37.2%)
2023 $1.3b (25.3%) $257.5m (27.3%) $399.8m (-23.7%) 20.1% (1.6%) $2.48 (26.5%)
2024 $1.3b (1.7%) $226.0m (-12.2%) $332.0m (-17.0%) 17.4% (-13.7%) $2.19 (-11.7%)
2025 $1.2b (-9.6%) $302.1m (33.7%) $277.8m (-16.3%) 25.6% (47.8%) $2.95 (34.7%)

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