Discounted Cash Flow

Resmed Inc.

RMD · 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 $1.8b $352.4m $489.4m 19.2% $2.51
2017 $2.1b (12.4%) $342.3m (-2.9%) $351.8m (-28.1%) 16.6% (-13.6%) $2.42 (-3.6%)
2018 $2.3b (13.2%) $315.6m (-7.8%) $442.4m (25.8%) 13.5% (-18.6%) $2.21 (-8.7%)
2019 $2.6b (11.4%) $404.6m (28.2%) $390.3m (-11.8%) 15.5% (15.1%) $2.83 (28.1%)
2020 $3.0b (13.4%) $621.7m (53.7%) $706.9m (81.1%) 21.0% (35.4%) $4.31 (52.3%)
2021 $3.2b (8.1%) $474.5m (-23.7%) $634.0m (-10.3%) 14.8% (-29.4%) $3.27 (-24.1%)
2022 $3.6b (11.9%) $779.4m (64.3%) $216.3m (-65.9%) 21.8% (46.8%) $5.34 (63.3%)
2023 $4.2b (18.0%) $897.6m (15.2%) $573.6m (165.2%) 21.3% (-2.4%) $6.12 (14.6%)
2024 $4.7b (10.9%) $1.0b (13.7%) $1.3b (126.9%) 21.8% (2.5%) $6.94 (13.4%)
2025 $5.1b (9.8%) $1.4b (37.2%) $1.7b (27.6%) 27.2% (24.9%) $9.55 (37.6%)

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