Discounted Cash Flow
Morgan Stanley
—
—
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 | $34.6b | $6.0b | $2.4b | 17.3% | $2.98 |
| 2017 | $37.9b (9.6%) | $6.1b (2.2%) | $-4.5b (-284.1%) | 16.1% (-6.7%) | $3.14 (5.4%) |
| 2018 | $40.1b (5.7%) | $8.7b (43.2%) | $7.3b (262.2%) | 21.8% (35.4%) | $4.81 (53.2%) |
| 2019 | $41.4b (3.3%) | $9.0b (3.4%) | $40.8b (458.2%) | 21.8% (0.1%) | $5.26 (9.4%) |
| 2020 | $48.2b (16.4%) | $11.0b (21.6%) | $-25.2b (-161.9%) | 22.8% (4.5%) | $6.55 (24.5%) |
| 2021 | $59.8b (24.0%) | $15.0b (36.7%) | $34.0b (234.6%) | 25.2% (10.3%) | $8.16 (24.6%) |
| 2022 | $53.7b (-10.2%) | $11.0b (-26.6%) | $-9.5b (-127.9%) | 20.6% (-18.3%) | $6.23 (-23.7%) |
| 2023 | $54.1b (0.9%) | $9.1b (-17.6%) | $-36.9b (-290.0%) | 16.8% (-18.3%) | $5.24 (-15.9%) |
| 2024 | $61.8b (14.1%) | $13.4b (47.4%) | $-2.1b (94.3%) | 21.7% (29.2%) | $8.04 (53.4%) |
| 2025 | $70.6b (14.4%) | $16.9b (25.9%) | $-20.8b (-889.9%) | 23.9% (10.1%) | $10.32 (28.4%) |
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): —
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.