Discounted Cash Flow

Gold Fields Ltd. ADR

GFI · 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 $2.7b $158.2m $621.9m 5.9% $0.19
2017 $2.8b (3.6%) $-18.7m (-111.8%) $388.6m (-37.5%) -0.7% (-111.4%) $-0.04 (-121.1%)
2018 $2.6b (-6.7%) $-348.2m (-1762.0%) $174.3m (-55.1%) -13.5% (-1894.9%) $-0.42 (-950.0%)
2019 $3.0b (15.1%) $161.6m (146.4%) $672.3m (285.7%) 5.4% (140.3%) $0.20 (147.6%)
2020 $3.9b (31.2%) $723.0m (347.4%) $1.2b (76.4%) 18.6% (241.1%) $0.82 (310.0%)
2021 $4.2b (7.8%) $789.3m (9.2%) $1.2b (-0.8%) 18.8% (1.3%) $0.89 (8.5%)
2022 $4.3b (2.2%) $711.0m (-9.9%) $1.5b (24.7%) 16.6% (-11.8%) $0.80 (-10.1%)
2023 $4.5b (5.0%) $703.3m (-1.1%) $1.2b (-20.8%) 15.6% (-5.8%) $0.79 (-1.3%)
2024 $5.2b (15.6%) $1.2b (77.0%) $1.6b (37.3%) 23.9% (53.2%) $1.39 (75.9%)
2025 $8.8b (68.2%) $5.3b (325.3%) $4.3b (170.1%) 60.5% (152.8%) $3.99 (187.1%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

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