Discounted Cash Flow

Newmark Group, Inc.

NMRK · 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)
2017 $1.6b $147.1m $834.6m 9.2% $1.08
2018 $2.0b (28.3%) $224.6m (52.7%) $-353.4m (-142.3%) 11.0% (19.0%) $0.65 (-39.8%)
2019 $2.2b (8.3%) $258.8m (15.2%) $952.2m (369.5%) 11.7% (6.4%) $0.59 (-9.2%)
2020 $1.9b (-14.1%) $130.8m (-49.5%) $-797.3m (-183.7%) 6.9% (-41.2%) $0.39 (-33.9%)
2021 $2.9b (52.6%) $356.3m (172.5%) $-68.4m (91.4%) 12.3% (78.6%) $3.91 (902.6%)
2022 $2.7b (-6.9%) $138.3m (-61.2%) $1.1b (1757.4%) 5.1% (-58.3%) $0.46 (-88.2%)
2023 $2.5b (-8.7%) $139.7m (1.0%) $-321.3m (-128.3%) 5.7% (10.7%) $0.25 (-45.7%)
2024 $2.7b (10.9%) $185.4m (32.7%) $-41.4m (87.1%) 6.8% (19.7%) $0.36 (44.0%)
2025 $3.3b (20.3%) $282.0m (52.1%) $142.6m (444.1%) 8.6% (26.5%) $0.71 (97.2%)

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