Discounted Cash Flow

Mitek Systems Inc.

MITK · 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 $34.7m $2.0m $7.6m 5.6% $0.06
2017 $45.4m (30.8%) $14.1m (619.3%) $10.0m (30.9%) 31.0% (449.9%) $0.43 (616.7%)
2018 $63.6m (40.0%) $-11.8m (-183.8%) $1.3m (-86.8%) -18.6% (-159.8%) $-0.33 (-176.7%)
2019 $84.6m (33.1%) $-724.0k (93.9%) $13.2m (899.8%) -0.9% (95.4%) $-0.02 (93.9%)
2020 $101.3m (19.8%) $7.8m (1179.3%) $23.3m (76.8%) 7.7% (1001.2%) $0.19 (1050.0%)
2021 $119.8m (18.2%) $8.0m (2.1%) $36.0m (54.2%) 6.7% (-13.7%) $0.18 (-5.3%)
2022 $143.9m (20.2%) $3.0m (-62.0%) $25.2m (-29.8%) 2.1% (-68.4%) $0.07 (-61.1%)
2023 $172.6m (19.9%) $8.0m (164.7%) $30.6m (21.1%) 4.7% (120.8%) $0.18 (157.1%)
2024 $172.1m (-0.3%) $3.3m (-59.2%) $30.2m (-1.0%) 1.9% (-59.1%) $0.07 (-61.1%)
2025 $179.7m (4.4%) $8.8m (168.3%) $54.2m (79.1%) 4.9% (157.0%) $0.19 (171.4%)

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