Discounted Cash Flow

Johnson Controls International Plc.

JCI · 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 $20.8b $-868.0m $646.0m -4.2% $-1.30
2017 $30.2b (44.8%) $1.6b (285.6%) $-1.3b (-306.0%) 5.3% (228.2%) $1.77 (236.2%)
2018 $31.4b (4.1%) $2.2b (34.2%) $1.5b (211.4%) 6.9% (29.0%) $2.34 (32.2%)
2019 $24.0b (-23.7%) $5.7b (162.4%) $-1.1b (-176.0%) 23.7% (243.8%) $1.26 (-46.2%)
2020 $22.3b (-6.9%) $631.0m (-88.9%) $-703.0m (37.6%) 2.8% (-88.1%) $0.84 (-33.3%)
2021 $23.7b (6.1%) $1.6b (159.4%) $-616.0m (12.4%) 6.9% (144.6%) $2.11 (151.2%)
2022 $25.3b (6.9%) $1.5b (-6.4%) $750.0m (221.8%) 6.1% (-12.4%) $2.19 (3.8%)
2023 $26.8b (5.9%) $1.8b (20.7%) $1.4b (88.0%) 6.9% (14.0%) $2.69 (22.8%)
2024 $23.0b (-14.3%) $1.7b (-7.8%) $1.1b (-23.8%) 7.4% (7.6%) $2.08 (-22.7%)
2025 $23.6b (2.8%) $3.3b (93.0%) $2.1b (97.4%) 13.9% (87.8%) $2.63 (26.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

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