Discounted Cash Flow

NBT Bancorp Inc.

NBTB · 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 $264.4m $78.4m $109.5m 29.7% $1.81
2017 $283.5m (7.2%) $82.2m (4.8%) $136.9m (25.0%) 29.0% (-2.3%) $1.89 (4.4%)
2018 $126.0m (-55.6%) $112.6m (37.0%) $147.8m (7.9%) 89.3% (208.3%) $2.58 (36.5%)
2019 $134.5m (6.7%) $121.0m (7.5%) $153.5m (3.9%) 90.0% (0.8%) $2.76 (7.0%)
2020 $140.9m (4.8%) $104.4m (-13.7%) $142.4m (-7.2%) 74.1% (-17.7%) $2.39 (-13.4%)
2021 $151.0m (7.2%) $154.9m (48.4%) $157.6m (10.7%) 102.6% (38.5%) $3.57 (49.4%)
2022 $150.7m (-0.2%) $152.0m (-1.9%) $176.2m (11.8%) 100.9% (-1.6%) $3.54 (-0.8%)
2023 $144.7m (-3.9%) $118.8m (-21.9%) $148.2m (-15.9%) 82.1% (-18.7%) $2.67 (-24.6%)
2024 $165.7m (14.5%) $140.6m (18.4%) $176.8m (19.3%) 84.9% (3.4%) $2.98 (11.6%)
2025 $183.0m (10.4%) $169.2m (20.3%) $218.9m (23.8%) 92.5% (9.0%) $3.34 (12.1%)

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