Discounted Cash Flow

Itron, Inc.

ITRI · 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 $2.0b $31.8m $72.3m 1.6% $0.83
2017 $2.0b (0.2%) $57.3m (80.4%) $141.9m (96.2%) 2.8% (79.9%) $1.48 (78.3%)
2018 $2.4b (17.7%) $-99.2m (-273.2%) $49.8m (-64.9%) -4.2% (-247.1%) $-2.53 (-270.9%)
2019 $2.5b (5.3%) $49.0m (149.4%) $112.1m (125.1%) 2.0% (146.9%) $1.24 (149.0%)
2020 $2.2b (-13.2%) $-58.0m (-218.3%) $63.3m (-43.5%) -2.7% (-236.2%) $-1.44 (-216.1%)
2021 $2.0b (-8.8%) $-81.3m (-40.2%) $120.1m (89.7%) -4.1% (-53.8%) $-1.83 (-27.1%)
2022 $1.8b (-9.4%) $-9.7m (88.0%) $4.8m (-96.0%) -0.5% (86.8%) $-0.22 (88.0%)
2023 $2.2b (21.1%) $96.9m (1095.9%) $98.1m (1963.7%) 4.5% (922.7%) $2.13 (1068.2%)
2024 $2.4b (12.3%) $239.1m (146.7%) $207.6m (111.7%) 9.8% (119.7%) $5.27 (147.4%)
2025 $2.4b (-3.0%) $301.1m (25.9%) $383.1m (84.5%) 12.7% (29.8%) $6.62 (25.6%)

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