Discounted Cash Flow

Primerica, Inc.

PRI · 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 $1.5b $219.4m $292.2m 14.4% $4.59
2017 $1.7b (11.2%) $350.3m (59.6%) $388.5m (33.0%) 20.7% (43.6%) $7.63 (66.2%)
2018 $1.9b (12.5%) $324.1m (-7.5%) $478.1m (23.0%) 17.1% (-17.7%) $7.35 (-3.7%)
2019 $2.1b (8.0%) $366.4m (13.1%) $485.5m (1.6%) 17.9% (4.6%) $8.65 (17.7%)
2020 $2.2b (8.0%) $386.2m (5.4%) $643.4m (32.5%) 17.4% (-2.4%) $9.60 (11.0%)
2021 $2.7b (22.2%) $373.4m (-3.3%) $657.0m (2.1%) 13.8% (-20.9%) $9.41 (-2.0%)
2022 $2.7b (0.4%) $373.0m (-0.1%) $731.9m (11.4%) 13.7% (-0.5%) $9.77 (3.8%)
2023 $2.8b (3.5%) $576.6m (54.6%) $658.6m (-10.0%) 20.5% (49.3%) $15.97 (63.5%)
2024 $3.1b (9.7%) $470.5m (-18.4%) $737.1m (11.9%) 15.2% (-25.6%) $13.73 (-14.0%)
2025 $3.3b (6.6%) $751.2m (59.7%) $875.1m (18.7%) 22.8% (49.8%) $22.95 (67.2%)

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