Discounted Cash Flow

Cheniere Energy, Inc.

LNG · 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 $1.3b $-610.0m $-4.8b -47.5% $-2.67
2017 $5.6b (336.5%) $-393.0m (35.6%) $-2.1b (55.3%) -7.0% (85.2%) $-1.68 (37.1%)
2018 $7.9b (40.2%) $471.0m (219.8%) $-1.7b (22.2%) 6.0% (185.5%) $1.92 (214.3%)
2019 $9.6b (22.0%) $648.0m (37.6%) $-1.2b (26.0%) 6.8% (12.7%) $2.53 (31.8%)
2020 $9.3b (-3.1%) $-85.0m (-113.1%) $-574.0m (53.1%) -0.9% (-113.5%) $-0.34 (-113.4%)
2021 $17.5b (88.6%) $-2.3b (-2656.5%) $1.5b (361.8%) -13.4% (-1361.2%) $-9.25 (-2620.6%)
2022 $33.3b (90.0%) $1.4b (160.9%) $8.7b (478.4%) 4.3% (132.1%) $5.69 (161.5%)
2023 $19.9b (-40.3%) $9.9b (591.9%) $6.3b (-27.6%) 49.7% (1058.6%) $40.99 (620.4%)
2024 $15.4b (-22.5%) $3.3b (-67.1%) $3.2b (-49.9%) 21.1% (-57.5%) $14.24 (-65.3%)
2025 $19.5b (26.3%) $5.3b (63.9%) $2.5b (-22.0%) 27.4% (29.8%) $24.19 (69.9%)

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