Discounted Cash Flow
Morningstar, Inc.
—
—
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
—
%
%
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | $798.6m | $161.0m | $150.9m | 20.2% | $3.74 |
| 2017 | $911.7m (14.2%) | $136.9m (-15.0%) | $183.5m (21.6%) | 15.0% (-25.5%) | $3.21 (-14.2%) |
| 2018 | $1.0b (11.9%) | $183.0m (33.7%) | $238.7m (30.1%) | 17.9% (19.5%) | $4.30 (34.0%) |
| 2019 | $1.2b (15.6%) | $114.1m (-37.7%) | $254.4m (6.6%) | 9.7% (-46.1%) | $3.56 (-17.2%) |
| 2020 | $1.4b (17.9%) | $137.7m (20.7%) | $307.6m (20.9%) | 9.9% (2.4%) | $5.22 (46.6%) |
| 2021 | $1.7b (22.3%) | $155.7m (13.1%) | $348.1m (13.2%) | 9.2% (-7.5%) | $4.50 (-13.8%) |
| 2022 | $1.9b (10.1%) | $25.9m (-83.4%) | $168.3m (-51.7%) | 1.4% (-84.9%) | $1.65 (-63.3%) |
| 2023 | $2.0b (9.0%) | $68.4m (164.1%) | $197.3m (17.2%) | 3.4% (142.3%) | $3.31 (100.6%) |
| 2024 | $2.3b (11.6%) | $296.8m (333.9%) | $448.9m (127.5%) | 13.0% (288.8%) | $8.64 (161.0%) |
| 2025 | $2.4b (7.5%) | $374.2m (26.1%) | $442.6m (-1.4%) | 15.3% (17.3%) | $8.93 (3.4%) |
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): —
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.