Discounted Cash Flow

PTC Inc.

PTC · 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 $1.1b $-54.5m $157.0m -4.8% $-0.48
2017 $1.2b (2.1%) $6.2m (111.5%) $109.1m (-30.5%) 0.5% (111.2%) $0.05 (110.4%)
2018 $1.2b (6.7%) $52.0m (733.3%) $211.8m (94.0%) 4.2% (681.1%) $0.45 (800.0%)
2019 $1.3b (1.1%) $-27.5m (-152.8%) $220.7m (4.2%) -2.2% (-152.2%) $-0.23 (-151.1%)
2020 $1.5b (16.1%) $130.7m (575.9%) $213.6m (-3.2%) 9.0% (509.8%) $1.13 (591.3%)
2021 $1.8b (23.9%) $476.9m (264.9%) $344.1m (61.1%) 26.4% (194.5%) $4.08 (261.1%)
2022 $1.9b (7.0%) $313.1m (-34.4%) $415.8m (20.8%) 16.2% (-38.6%) $2.67 (-34.6%)
2023 $2.1b (8.5%) $245.5m (-21.6%) $587.0m (41.2%) 11.7% (-27.7%) $2.07 (-22.5%)
2024 $2.3b (9.6%) $376.3m (53.3%) $735.6m (25.3%) 16.4% (39.8%) $3.14 (51.7%)
2025 $2.7b (19.2%) $734.0m (95.0%) $856.7m (16.5%) 26.8% (63.7%) $6.12 (94.9%)

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