Discounted Cash Flow

Park National Corp. /Oh/

PRK · 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 $322.1m $86.1m $80.4m 26.7% $5.62
2017 $330.2m (2.5%) $84.2m (-2.2%) $81.0m (0.7%) 25.5% (-4.6%) $5.51 (-2.0%)
2018 $368.0m (11.5%) $110.4m (31.0%) $121.4m (49.9%) 30.0% (17.6%) $7.13 (29.4%)
2019 $394.9m (7.3%) $102.7m (-7.0%) $96.1m (-20.8%) 26.0% (-13.3%) $6.33 (-11.2%)
2020 $453.3m (14.8%) $127.9m (24.6%) $83.0m (-13.6%) 28.2% (8.5%) $7.85 (24.0%)
2021 $459.8m (1.4%) $153.9m (20.3%) $143.2m (72.5%) 33.5% (18.6%) $9.45 (20.4%)
2022 $483.0m (5.0%) $148.4m (-3.6%) $126.9m (-11.4%) 30.7% (-8.3%) $9.13 (-3.4%)
2023 $465.7m (-3.6%) $126.7m (-14.6%) $142.9m (12.6%) 27.2% (-11.4%) $7.84 (-14.1%)
2024 $520.6m (11.8%) $151.4m (19.5%) $169.7m (18.7%) 29.1% (6.9%) $9.38 (19.6%)
2025 $557.2m (7.0%) $180.1m (18.9%) $191.9m (13.1%) 32.3% (11.1%) $11.18 (19.2%)

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