Discounted Cash Flow

First MID Bancshares, Inc.

FMBH · 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 $21.8m $26.7m $2.07
2017 $26.7m (22.2%) $44.9m (67.9%) $2.13 (2.9%)
2018 $36.6m (37.2%) $39.1m (-13.0%) $2.53 (18.8%)
2019 $47.9m (31.0%) $58.7m (50.3%) $2.88 (13.8%)
2020 $45.3m (-5.6%) $61.1m (4.0%) $2.71 (-5.9%)
2021 $51.5m (13.7%) $65.9m (7.9%) $2.88 (6.3%)
2022 $73.0m (41.7%) $60.8m (-7.7%) $3.62 (25.7%)
2023 $68.9m (-5.5%) $68.8m (13.1%) $3.17 (-12.4%)
2024 $78.9m (14.5%) $119.5m (73.7%) $3.31 (4.4%)
2025 $91.7m (16.3%) $124.0m (3.8%) $3.84 (16.0%)

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