Discounted Cash Flow

GSK Plc. ADR

GSK · 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 $27.9b $912.0m $1.6b 3.3% $0.19
2017 $30.2b (8.2%) $1.5b (68.0%) $6.9b (330.0%) 5.1% (55.2%) $0.31 (67.0%)
2018 $30.8b (2.1%) $3.6b (136.5%) $8.4b (21.7%) 11.8% (131.6%) $0.74 (134.7%)
2019 $33.8b (9.5%) $4.6b (28.2%) $8.0b (-4.8%) 13.8% (17.1%) $0.94 (27.4%)
2020 $34.1b (1.0%) $5.7b (23.8%) $8.4b (5.2%) 16.9% (22.5%) $1.16 (23.0%)
2021 $34.1b (0.0%) $4.4b (-23.7%) $8.0b (-5.8%) 12.9% (-23.8%) $0.88 (-24.2%)
2022 $29.3b (-14.0%) $15.0b (241.1%) $5.1b (-35.3%) 51.0% (296.8%) $3.71 (324.0%)
2023 $30.3b (3.4%) $4.9b (-67.1%) $4.4b (-14.0%) 16.2% (-68.1%) $1.22 (-67.3%)
2024 $31.4b (3.5%) $2.6b (-47.7%) $3.6b (-19.3%) 8.2% (-49.5%) $0.63 (-48.0%)
2025 $32.7b (4.1%) $5.7b (122.0%) $6.4b (78.2%) 17.5% (113.2%) $1.41 (123.3%)

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