Discounted Cash Flow

Formfactor Inc.

FORM · 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 $383.9m $-6.6m $5.9m -1.7% $-0.10
2017 $548.4m (42.9%) $40.9m (724.0%) $68.6m (1061.8%) 7.5% (536.7%) $0.57 (670.0%)
2018 $529.7m (-3.4%) $104.0m (154.3%) $48.8m (-28.8%) 19.6% (163.3%) $1.42 (149.1%)
2019 $589.5m (11.3%) $39.3m (-62.2%) $100.2m (105.2%) 6.7% (-66.0%) $0.52 (-63.4%)
2020 $693.6m (17.7%) $78.5m (99.6%) $113.4m (13.2%) 11.3% (69.6%) $1.02 (96.2%)
2021 $769.7m (11.0%) $83.9m (6.9%) $72.9m (-35.7%) 10.9% (-3.7%) $1.08 (5.9%)
2022 $747.9m (-2.8%) $50.7m (-39.5%) $66.5m (-8.7%) 6.8% (-37.8%) $0.65 (-39.8%)
2023 $663.1m (-11.3%) $82.4m (62.4%) $8.6m (-87.1%) 12.4% (83.2%) $1.06 (63.1%)
2024 $763.6m (15.2%) $69.6m (-15.5%) $79.1m (822.4%) 9.1% (-26.6%) $0.90 (-15.1%)
2025 $785.0m (2.8%) $54.4m (-21.9%) $11.7m (-85.2%) 6.9% (-24.0%) $0.70 (-22.2%)

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