Discounted Cash Flow

Farmers National Banc Corp. /Oh/

FMNB · 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 $68.1m $20.6m $23.5m 30.2% $0.76
2017 $73.6m (8.1%) $22.7m (10.5%) $29.6m (26.0%) 30.8% (2.2%) $0.82 (7.9%)
2018 $78.5m (6.6%) $32.6m (43.4%) $39.5m (33.5%) 41.5% (34.5%) $1.18 (43.9%)
2019 $82.4m (4.9%) $35.8m (9.8%) $37.3m (-5.7%) 43.4% (4.6%) $1.29 (9.3%)
2020 $96.2m (16.8%) $41.9m (17.1%) $46.3m (24.2%) 43.5% (0.3%) $1.48 (14.7%)
2021 $108.0m (12.3%) $51.8m (23.8%) $53.6m (15.6%) 48.0% (10.3%) $1.78 (20.3%)
2022 $124.2m (15.0%) $60.6m (16.9%) $78.2m (46.0%) 48.8% (1.7%) $1.79 (0.6%)
2023 $137.8m (11.0%) $49.9m (-17.6%) $58.4m (-25.3%) 36.2% (-25.7%) $1.34 (-25.1%)
2024 $269.4m (95.6%) $45.9m (-8.0%) $54.9m (-6.0%) 17.1% (-52.9%) $1.23 (-8.2%)
2025 $279.9m (3.9%) $54.6m (18.8%) $52.2m (-5.0%) 19.5% (14.4%) $1.46 (18.7%)

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