Discounted Cash Flow

High Templar Tech Ltd. ADR

HTT · Based on 10 years of SEC filings · Converted from CNY to USD

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 $1.4b $85.3m $116.8m 5.9% $7.27
2017 $734.0m (-49.1%) $49.2m (-42.3%) $453.6m (288.2%) 6.7% (13.4%) $68.52 (842.5%)
2018 $1.1b (52.4%) $53.6m (8.9%) $472.4m (4.1%) 4.8% (-28.5%) $7.82 (-88.6%)
2019 $1.3b (13.5%) $69.4m (29.4%) $69.4m (-85.3%) 5.5% (14.0%) $46.88 (499.5%)
2020 $565.2m (-55.5%) $21.7m (-68.7%) $21.7m (-68.7%) 3.8% (-29.6%) $15.12 (-67.7%)
2021 $259.6m (-54.1%) $13.7m (-37.1%) $65.7m (201.9%) 5.3% (37.0%) $9.28 (-38.6%)
2022 $83.7m (-67.7%) $-7.8m (-156.8%) $-1.9m (-102.9%) -9.3% (-276.0%) $-5.88 (-163.4%)
2023 $17.8m (-78.7%) $815.7k (110.5%) $815.7k (143.2%) 4.6% (149.4%) $0.72 (112.2%)
2024 $29.7m (66.6%) $1.9m (128.0%) $1.9m (128.0%) 6.3% (36.8%) $2.00 (177.8%)
2025 $5.9m (-80.2%) $15.0m (706.3%) $84.4m (4439.2%) 256.0% (3981.5%) $17.48 (774.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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

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