Discounted Cash Flow

Rambus Inc.

RMBS · 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 $336.6m $6.8m $6.8m 2.0% $0.06
2017 $393.1m (16.8%) $-22.9m (-435.2%) $108.1m (1484.3%) -5.8% (-387.0%) $-0.21 (-450.0%)
2018 $231.2m (-41.2%) $-158.0m (-590.9%) $76.4m (-29.3%) -68.3% (-1074.7%) $-1.46 (-595.2%)
2019 $224.0m (-3.1%) $-90.4m (42.8%) $122.1m (59.9%) -40.4% (40.9%) $-0.81 (44.5%)
2020 $246.3m (10.0%) $-40.5m (55.2%) $155.7m (27.6%) -16.4% (59.3%) $-0.36 (55.6%)
2021 $328.3m (33.3%) $18.3m (145.3%) $18.3m (-88.2%) 5.6% (134.0%) $0.17 (147.2%)
2022 $454.8m (38.5%) $-14.3m (-178.1%) $-14.3m (-178.1%) -3.1% (-156.3%) $-0.13 (-176.5%)
2023 $461.1m (1.4%) $333.9m (2433.4%) $172.5m (1305.8%) 72.4% (2401.4%) $3.09 (2476.9%)
2024 $556.6m (20.7%) $179.8m (-46.1%) $199.9m (15.9%) 32.3% (-55.4%) $1.67 (-46.0%)
2025 $707.6m (27.1%) $230.5m (28.2%) $333.2m (66.7%) 32.6% (0.8%) $2.14 (28.1%)

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