Discounted Cash Flow

Nerdwallet, Inc.

NRDS · 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)
2019 $228.3m $24.2m $30.7m 10.6% $0.57
2020 $245.3m (7.4%) $5.3m (-78.1%) $14.1m (-54.1%) 2.2% (-79.6%) $0.12 (-79.2%)
2021 $379.6m (54.7%) $-42.5m (-901.9%) $4.9m (-65.2%) -11.2% (-618.2%) $-0.82 (-784.5%)
2022 $538.9m (42.0%) $-10.2m (76.0%) $20.4m (316.3%) -1.9% (83.1%) $-0.14 (82.4%)
2023 $599.4m (11.2%) $-11.8m (-15.7%) $71.4m (250.0%) -2.0% (-4.0%) $-0.15 (-6.5%)
2024 $687.6m (14.7%) $30.4m (357.6%) $71.2m (-0.3%) 4.4% (324.6%) $0.40 (358.3%)
2025 $836.6m (21.7%) $48.7m (60.2%) $130.3m (83.0%) 5.8% (31.7%) $0.66 (64.9%)

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