Discounted Cash Flow

ICF International, Inc.

ICFI · 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 $1.2b $46.6m $79.6m 3.9% $2.45
2017 $1.2b (3.7%) $62.9m (35.0%) $117.2m (47.3%) 5.1% (30.1%) $3.35 (36.7%)
2018 $1.3b (8.9%) $61.4m (-2.3%) $74.7m (-36.3%) 4.6% (-10.3%) $3.27 (-2.4%)
2019 $1.5b (10.5%) $68.9m (12.3%) $91.4m (22.5%) 4.7% (1.6%) $3.66 (11.9%)
2020 $1.5b (1.9%) $55.0m (-20.3%) $173.1m (89.4%) 3.6% (-21.8%) $2.92 (-20.2%)
2021 $1.6b (3.1%) $71.1m (29.4%) $90.3m (-47.9%) 4.6% (25.6%) $3.77 (29.1%)
2022 $1.8b (14.6%) $64.2m (-9.7%) $137.7m (52.6%) 3.6% (-21.2%) $3.41 (-9.5%)
2023 $2.0b (10.3%) $82.6m (28.6%) $130.0m (-5.6%) 4.2% (16.6%) $4.39 (28.7%)
2024 $2.0b (2.9%) $110.2m (33.4%) $150.1m (15.4%) 5.5% (29.6%) $5.88 (33.9%)
2025 $1.9b (-7.3%) $91.6m (-16.9%) $120.2m (-19.9%) 4.9% (-10.3%) $4.97 (-15.5%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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