Discounted Cash Flow

NEW York Times Co.

NYT · 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 $1.6b $29.1m $64.2m 1.9% $0.18
2017 $1.7b (7.7%) $4.3m (-85.2%) $2.0m (-96.9%) 0.3% (-86.3%) $0.03 (-83.3%)
2018 $1.7b (4.4%) $125.7m (2825.6%) $79.6m (3964.8%) 7.2% (2703.5%) $0.76 (2433.3%)
2019 $1.8b (3.6%) $140.0m (11.4%) $144.5m (81.4%) 7.7% (7.5%) $0.84 (10.5%)
2020 $1.8b (-1.6%) $100.1m (-28.5%) $263.5m (82.4%) 5.6% (-27.3%) $0.60 (-28.6%)
2021 $2.1b (16.3%) $220.0m (119.7%) $234.5m (-11.0%) 10.6% (88.9%) $1.31 (118.3%)
2022 $2.3b (11.3%) $173.9m (-20.9%) $113.7m (-51.5%) 7.5% (-28.9%) $1.04 (-20.6%)
2023 $2.4b (5.1%) $232.4m (33.6%) $337.9m (197.2%) 9.6% (27.1%) $1.41 (35.6%)
2024 $2.6b (6.6%) $293.8m (26.4%) $381.3m (12.8%) 11.4% (18.6%) $1.79 (27.0%)
2025 $2.8b (9.2%) $344.0m (17.1%) $550.5m (44.4%) 12.2% (7.2%) $2.11 (17.9%)

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