Discounted Cash Flow

Liquidity Services Inc.

LQDT · 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 $233.8m $-59.9m $39.7m -25.6%
2017 $188.6m (-19.4%) $-40.5m (32.5%) $-39.5m (-199.3%) -21.5% (16.3%)
2018 $149.7m (-20.6%) $-11.6m (71.3%) $-3.6m (91.0%) -7.8% (63.8%)
2019 $226.5m (51.3%) $-19.3m (-65.8%) $-12.2m (-242.6%) -8.5% (-9.6%)
2020 $205.9m (-9.1%) $-3.8m (80.4%) $12.3m (200.9%) -1.8% (78.4%)
2021 $257.5m (25.1%) $50.9m (1450.0%) $60.0m (388.1%) 19.8% (1179.6%)
2022 $280.1m (8.7%) $40.3m (-20.9%) $36.7m (-38.8%) 14.4% (-27.2%)
2023 $314.5m (12.3%) $21.0m (-48.0%) $41.6m (13.4%) 6.7% (-53.7%)
2024 $363.3m (15.5%) $20.0m (-4.7%) $61.3m (47.3%) 5.5% (-17.5%)
2025 $476.7m (31.2%) $28.1m (40.5%) $59.0m (-3.8%) 5.9% (7.1%)

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