Discounted Cash Flow

Meridian Corp.

MRBK · 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)
2018 $44.1m $8.2m $9.4m 18.5% $1.28
2019 $52.9m (20.0%) $10.5m (28.4%) $20.8m (121.7%) 19.8% (7.0%) $1.64 (28.1%)
2020 $62.7m (18.5%) $26.4m (152.2%) $-158.9m (-863.0%) 42.2% (112.8%) $4.32 (163.4%)
2021 $71.5m (14.2%) $35.6m (34.6%) $159.7m (200.5%) 49.8% (17.9%) $5.91 (36.8%)
2022 $88.7m (24.0%) $21.8m (-38.7%) $81.8m (-48.8%) 24.6% (-50.5%) $1.85 (-68.7%)
2023 $136.6m (54.0%) $13.2m (-39.3%) $17.0m (-79.2%) 9.7% (-60.6%) $1.19 (-35.7%)
2024 $156.0m (14.2%) $16.3m (23.4%) $9.0m (-47.0%) 10.5% (8.1%) $1.47 (23.5%)
2025 $166.3m (6.6%) $21.8m (33.6%) $22.6m (149.9%) 13.1% (25.3%) $1.93 (31.3%)

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