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
Dividends

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 $1.3b $168.4m $-671.4m 12.5%
2017 $1.6b (18.3%) $144.5m (-14.2%) $834.6m (224.3%) 9.1% (-27.4%) $1.08
2018 $1.7b (6.5%) $106.7m (-26.1%) $-353.4m (-142.3%) 6.3% (-30.7%) $0.65 (-39.8%)
2019 $1.8b (8.3%) $117.3m (9.9%) $952.2m (369.5%) 6.4% (1.5%) $0.59 (-9.2%)
2020 $1.4b (-22.1%) $80.1m (-31.8%) $-797.3m (-183.7%) 5.6% (-12.4%) $0.39 (-33.9%)
2021 $2.5b (74.1%) $750.7m (837.7%) $-68.4m (91.4%) 30.0% (438.6%) $3.91 (902.6%)
2022 $2.3b (-7.8%) $83.3m (-88.9%) $83.3m (221.7%) 3.6% (-88.0%) $0.46 (-88.2%)
2023 $2.1b (-9.7%) $62.4m (-25.1%) $-321.3m (-485.9%) 3.0% (-17.1%) $0.25 (-45.7%)
2024 $2.3b (9.2%) $85.5m (37.1%) $-41.4m (87.1%) 3.8% (25.5%) $0.36 (44.0%)
2025 $2.8b (21.9%) $126.2m (47.6%) $142.6m (444.1%) 4.6% (21.1%) $0.71 (97.2%)

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