Discounted Cash Flow

Kimberly Clark Corp.

KMB · 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 $18.2b $2.2b $2.5b 11.9% $6.03
2017 $18.3b (0.3%) $2.3b (5.2%) $2.1b (-12.9%) 12.5% (4.8%) $6.44 (6.8%)
2018 $18.5b (1.2%) $1.4b (-38.1%) $2.1b (-2.4%) 7.6% (-38.9%) $4.05 (-37.1%)
2019 $18.4b (-0.2%) $2.2b (53.0%) $1.5b (-27.0%) 11.7% (53.3%) $6.28 (55.1%)
2020 $19.1b (3.7%) $2.4b (9.0%) $2.5b (64.5%) 12.3% (5.1%) $6.90 (9.9%)
2021 $19.4b (1.6%) $1.8b (-22.9%) $1.7b (-31.4%) 9.3% (-24.1%) $5.38 (-22.0%)
2022 $20.2b (3.8%) $1.9b (6.6%) $1.9b (7.8%) 9.6% (2.7%) $5.73 (6.5%)
2023 $20.4b (1.3%) $1.8b (-8.8%) $2.8b (49.5%) 8.6% (-9.9%) $5.22 (-8.9%)
2024 $20.1b (-1.8%) $2.5b (44.3%) $2.5b (-9.5%) 12.7% (47.0%) $7.58 (45.2%)
2025 $16.4b (-18.0%) $2.0b (-20.6%) $1.6b (-34.8%) 12.3% (-3.2%) $6.09 (-19.7%)

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