Discounted Cash Flow

Liberty Energy Inc.

LBRT · 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)
2017 $1.5b $0 $195.1m 0.0%
2018 $2.2b (44.7%) $126.3m $351.3m (80.0%) 5.9% $1.84
2019 $2.0b (-7.6%) $39.0m (-69.1%) $261.1m (-25.7%) 2.0% (-66.6%) $0.54 (-70.7%)
2020 $965.8m (-51.5%) $-115.6m (-396.3%) $85.4m (-67.3%) -12.0% (-710.7%) $-1.36 (-351.9%)
2021 $2.5b (155.8%) $-179.2m (-55.1%) $135.5m (58.6%) -7.3% (39.4%) $-1.03 (24.3%)
2022 $4.1b (67.9%) $399.6m (322.9%) $71.0m (-47.6%) 9.6% (232.8%) $2.17 (310.7%)
2023 $4.7b (14.4%) $556.3m (39.2%) $411.3m (478.9%) 11.7% (21.7%) $3.24 (49.3%)
2024 $4.3b (-9.1%) $316.0m (-43.2%) $813.3m (97.8%) 7.3% (-37.5%) $1.91 (-41.0%)
2025 $4.0b (-7.2%) $147.9m (-53.2%) $14.1m (-98.3%) 3.7% (-49.6%) $0.91 (-52.4%)

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