Discounted Cash Flow

Interdigital, Inc.

IDCC · 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 $665.9m $305.5m $424.9m 45.9% $8.95
2017 $532.9m (-20.0%) $170.7m (-44.1%) $313.7m (-26.2%) 32.0% (-30.2%) $5.04 (-43.7%)
2018 $307.4m (-42.3%) $63.9m (-62.6%) $144.2m (-54.0%) 20.8% (-35.1%) $1.85 (-63.3%)
2019 $318.9m (3.7%) $20.9m (-67.2%) $84.9m (-41.1%) 6.6% (-68.4%) $0.66 (-64.3%)
2020 $359.0m (12.6%) $44.8m (114.1%) $151.7m (78.6%) 12.5% (90.2%) $1.46 (121.2%)
2021 $425.4m (18.5%) $55.3m (23.4%) $127.9m (-15.7%) 13.0% (4.2%) $1.80 (23.3%)
2022 $457.8m (7.6%) $93.7m (69.4%) $282.9m (121.2%) 20.5% (57.5%) $3.11 (72.8%)
2023 $549.6m (20.1%) $214.1m (128.5%) $209.5m (-26.0%) 39.0% (90.3%) $7.97 (156.3%)
2024 $868.5m (58.0%) $358.6m (67.5%) $265.7m (26.8%) 41.3% (6.0%) $14.16 (77.7%)
2025 $834.0m (-4.0%) $406.6m (13.4%) $528.6m (98.9%) 48.8% (18.1%) $15.77 (11.4%)

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