Discounted Cash Flow

Immersion Corp.

IMMR · 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 $57.1m $-39.4m $21.7m -69.0% $-1.37
2017 $35.0m (-38.7%) $-45.3m (-15.0%) $-44.0m (-302.6%) -129.4% (-87.5%) $-1.55 (-13.1%)
2018 $111.0m (217.0%) $54.3m (220.0%) $69.8m (258.9%) 49.0% (137.9%) $1.78 (214.8%)
2019 $36.0m (-67.6%) $-20.0m (-136.9%) $-34.2m (-149.0%) -55.8% (-213.9%) $-0.64 (-136.0%)
2020 $30.5m (-15.3%) $5.4m (126.9%) $-25.0k (99.9%) 17.7% (131.8%) $0.19 (129.7%)
2021 $35.1m (15.2%) $12.5m (131.1%) $17.1m (68556.0%) 35.6% (100.6%) $0.40 (110.5%)
2022 $38.5m (9.6%) $30.7m (145.6%) $40.1m (134.4%) 79.7% (124.1%) $0.92 (130.0%)
2023 $33.9m (-11.8%) $34.0m (10.8%) $-156.7m (-490.7%) 100.2% (25.6%) $1.05 (14.1%)
2025 $1.6b (4487.0%) $64.3m (89.2%) $-68.8m (56.1%) 4.1% (-95.9%) $1.94 (84.8%)
2026 $1.7b (11.2%) $4.5m (-93.0%) $42.9m (162.3%) 0.3% (-93.7%) $0.14 (-92.8%)

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