Discounted Cash Flow

Mplx L.P. LP

MPLX · 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 $3.0b $233.0m $-25.0m 7.7%
2017 $3.9b (27.7%) $794.0m (240.8%) $496.0m (2084.0%) 20.5% (166.9%)
2018 $5.0b (29.5%) $1.8b (129.0%) $907.0m (82.9%) 36.3% (76.8%)
2019 $7.0b (40.6%) $1.0b (-43.2%) $1.7b (84.6%) 14.7% (-59.6%)
2020 $6.9b (-2.1%) $-720.0m (-169.7%) $3.3b (99.4%) -10.4% (-171.2%)
2021 $10.0b (45.4%) $3.1b (527.4%) $4.4b (31.3%) 30.7% (393.9%)
2022 $11.6b (15.8%) $3.9b (28.2%) $4.2b (-3.9%) 34.0% (10.7%)
2023 $8.7b (-24.8%) $3.9b (-0.4%) $4.5b (5.9%) 45.0% (32.4%)
2024 $9.2b (5.2%) $4.3b (9.2%) $4.9b (9.6%) 46.7% (3.8%)
2025 $9.7b (5.8%) $4.9b (14.5%) $4.1b (-16.1%) 50.5% (8.2%)

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