Discounted Cash Flow

Gerdau S.A. ADR

GGB · 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 $37.7b $-2.9b $3.4b -7.7% $-1.70
2017 $36.9b (-1.9%) $-359.4m (87.6%) $1.2b (-64.8%) -1.0% (87.3%) $-0.21 (87.6%)
2018 $46.2b (25.0%) $2.3b (741.1%) $1.8b (46.0%) 5.0% (612.7%) $1.35 (742.9%)
2019 $39.6b (-14.1%) $1.2b (-47.8%) $-103.8m (-105.9%) 3.0% (-39.2%) $0.71 (-47.4%)
2020 $43.8b (10.5%) $2.4b (96.5%) $6.4b (6272.8%) 5.4% (77.8%) $1.39 (95.8%)
2021 $78.3b (78.8%) $15.5b (554.9%) $9.5b (48.1%) 19.8% (266.3%) $9.09 (554.0%)
2022 $82.4b (5.2%) $11.4b (-26.3%) $6.7b (-29.7%) 13.9% (-29.9%) $13.06 (43.7%)
2023 $68.9b (-16.4%) $7.5b (-34.3%) $5.8b (-13.0%) 10.9% (-21.5%) $8.58 (-34.3%)
2024 $67.0b (-2.7%) $4.6b (-39.1%) $5.4b (-6.3%) 6.8% (-37.4%) $4.36 (-49.2%)
2025 $69.9b (4.2%) $1.4b (-69.6%) $1.1b (-79.1%) 2.0% (-70.9%) $1.38 (-68.3%)

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