Discounted Cash Flow

OGE Energy Corp.

OGE · 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 $2.3b $338.2m $-15.5m 15.0% $1.69
2017 $2.3b (0.1%) $619.0m (83.0%) $-39.6m (-155.5%) 27.4% (82.9%) $3.10 (83.4%)
2018 $2.2b (-2.2%) $425.5m (-31.3%) $377.5m (1053.3%) 19.2% (-29.7%) $2.13 (-31.3%)
2019 $2.2b (-1.6%) $433.6m (1.9%) $46.0m (-87.8%) 19.9% (3.6%) $2.17 (1.9%)
2020 $2.1b (-4.9%) $-173.7m (-140.1%) $62.3m (35.4%) -8.4% (-142.1%) $-0.87 (-140.1%)
2021 $3.6b (73.4%) $737.3m (524.5%) $-1.1b (-1852.5%) 20.5% (344.8%) $3.68 (523.0%)
2022 $3.3b (-7.9%) $665.7m (-9.7%) $-98.5m (91.0%) 20.1% (-1.9%) $3.33 (-9.5%)
2023 $2.6b (-21.1%) $416.8m (-37.4%) $54.1m (154.9%) 16.0% (-20.7%) $2.08 (-37.5%)
2024 $2.9b (11.9%) $441.5m (5.9%) $-278.1m (-614.0%) 15.1% (-5.3%) $2.20 (5.8%)
2025 $3.2b (9.4%) $470.7m (6.6%) $82.7m (129.7%) 14.8% (-2.6%) $2.33 (5.9%)

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