Discounted Cash Flow

Global Payments Inc.

GPN · 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 $2.9b $271.7m $496.1m 9.4% $2.05
2017 $4.0b (37.2%) $468.4m (72.4%) $330.5m (-33.4%) 11.8% (25.7%) $3.03 (47.8%)
2018 $3.4b (-15.3%) $452.1m (-3.5%) $892.8m (170.1%) 13.4% (14.0%) $2.85 (-5.9%)
2019 $4.9b (45.9%) $430.6m (-4.7%) $1.1b (21.4%) 8.8% (-34.7%) $2.17 (-23.9%)
2020 $7.4b (51.1%) $584.5m (35.7%) $1.9b (73.3%) 7.9% (-10.2%) $1.95 (-10.1%)
2021 $8.5b (14.8%) $965.5m (65.2%) $2.3b (21.8%) 11.3% (43.9%) $3.30 (69.2%)
2022 $9.0b (5.3%) $111.5m (-88.5%) $111.5m (-95.1%) 1.2% (-89.0%) $0.41 (-87.6%)
2023 $9.7b (7.6%) $986.2m (784.6%) $1.9b (1596.7%) 10.2% (722.4%) $3.78 (822.0%)
2024 $10.1b (4.7%) $1.6b (59.2%) $2.4b (26.0%) 15.5% (52.1%) $6.18 (63.5%)
2025 $7.7b (-23.7%) $1.4b (-10.8%) $2.0b (-14.4%) 18.2% (16.9%) $5.79 (-6.3%)

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