Discounted Cash Flow

Hdfc Bank Ltd. ADR

HDB · Based on 10 years of SEC filings · Converted from INR to USD

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

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 $5.5b $18.8m $18.8m 0.3% $0.71
2017 $6.5b (17.9%) $22.9m (21.7%) $22.9m (21.7%) 0.4% (3.3%) $0.85 (19.7%)
2018 $7.8b (19.4%) $29.0m (26.5%) $29.0m (26.5%) 0.4% (6.0%) $1.06 (24.7%)
2019 $8.6b (10.3%) $33.7m (16.1%) $33.7m (16.1%) 0.4% (5.3%) $1.19 (12.3%)
2020 $8.9b (3.9%) $36.5m (8.5%) $36.5m (8.5%) 0.4% (4.4%) $0.63 (-47.1%)
2021 $10.7b (19.6%) $47.1m (29.1%) $47.1m (29.1%) 0.4% (7.9%) $0.81 (28.6%)
2022 $11.8b (10.0%) $53.8m (14.1%) $53.8m (14.1%) 0.5% (3.8%) $0.92 (13.6%)
2023 $13.8b (17.0%) $63.8m (18.5%) $63.8m (18.5%) 0.5% (1.3%) $1.08 (17.4%)
2024 $1.9t (13370.4%) $79.0m (23.9%) $10.8b (16849.1%) 0.0% (-99.1%) $1.06 (-1.9%)
2025 $2.2t (18.1%) $83.4m (5.5%) $12.6b (16.9%) 0.0% (-10.7%) $1.05 (-0.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in INR. Values above are converted to USD for comparison with the US-listed share price.

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