Discounted Cash Flow

Grifols S.A. ADR

GRFS · 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 $4.0b $545.5m $540.6m 13.5% $0.80
2017 $4.3b (6.6%) $662.7m (21.5%) $841.7m (55.7%) 15.3% (13.9%) $0.97 (21.2%)
2018 $4.5b (3.9%) $596.6m (-10.0%) $737.4m (-12.4%) 13.3% (-13.4%) $0.87 (-10.3%)
2019 $5.1b (13.6%) $625.1m (4.8%) $568.9m (-22.8%) 12.3% (-7.8%) $0.91 (4.6%)
2020 $5.3b (4.7%) $618.5m (-1.1%) $1.1b (95.2%) 11.6% (-5.5%) $0.90 (-1.1%)
2021 $4.9b (-7.3%) $188.7m (-69.5%) $471.3m (-57.6%) 3.8% (-67.1%) $0.28 (-68.9%)
2022 $6.1b (23.0%) $208.3m (10.4%) $-14.3m (-103.0%) 3.4% (-10.3%) $0.31 (10.7%)
2023 $6.6b (8.3%) $59.3m (-71.5%) $208.3m (1553.9%) 0.9% (-73.7%) $0.09 (-71.0%)
2024 $7.2b (9.4%) $156.9m (164.6%) $530.2m (154.5%) 2.2% (141.8%) $0.23 (155.6%)
2025 $7.5b (4.3%) $730.0m (365.2%) $624.0m (17.7%) 9.7% (345.9%) $0.59 (156.5%)

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