Discounted Cash Flow

Southern First Bancshares Inc.

SFST · 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 $45.1m $13.0m $11.7m 28.9% $2.06
2017 $61.2m (35.6%) $13.0m (0.1%) $11.8m (1.3%) 21.3% (-26.2%) $1.86 (-9.7%)
2018 $76.7m (25.2%) $22.3m (70.9%) $29.8m (151.9%) 29.1% (36.4%) $3.02 (62.4%)
2019 $92.7m (20.9%) $27.9m (25.0%) $9.9m (-66.9%) 30.1% (3.4%) $3.70 (22.5%)
2020 $94.8m (2.3%) $18.3m (-34.2%) $13.3m (35.4%) 19.3% (-35.7%) $2.37 (-35.9%)
2021 $93.2m (-1.7%) $46.7m (154.9%) $51.6m (286.4%) 50.1% (159.4%) $5.96 (151.5%)
2022 $117.7m (26.3%) $29.1m (-37.7%) $36.4m (-29.5%) 24.7% (-50.6%) $3.66 (-38.6%)
2023 $177.6m (50.9%) $13.4m (-53.9%) $16.4m (-54.9%) 7.6% (-69.4%) $1.67 (-54.4%)
2024 $201.2m (13.3%) $15.5m (15.7%) $24.8m (51.0%) 7.7% (2.1%) $1.92 (15.0%)
2025 $211.5m (5.1%) $30.4m (95.5%) $29.9m (20.6%) 14.4% (86.0%) $3.75 (95.3%)

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