Discounted Cash Flow

National Energy Services Reunited Corp.

NESR · 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 $0 $8.3m
2017 $0 $28.4m (239.6%)
2019 $170.6m $39.4m (38.8%) $-18.8m 23.1% $0.45
2020 $171.3m (0.4%) $50.1m (27.2%) $43.1m (328.9%) 29.2% (26.7%) $0.56 (24.4%)
2021 $876.7m (411.8%) $-64.6m (-228.9%) $20.7m (-52.1%) -7.4% (-125.2%) $-0.71 (-226.8%)
2022 $909.5m (3.7%) $-36.4m (43.6%) $-29.8m (-244.4%) -4.0% (45.6%) $-0.39 (45.1%)
2023 $1.1b (26.0%) $12.6m (134.5%) $108.8m (464.5%) 1.1% (127.4%) $0.13 (133.3%)
2024 $1.3b (13.6%) $76.3m (506.6%) $124.2m (14.2%) 5.9% (434.0%) $0.80 (515.4%)
2025 $1.3b (1.7%) $51.1m (-33.0%) $120.8m (-2.8%) 3.9% (-34.1%) $0.52 (-35.0%)

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