Discounted Cash Flow

Sherwin Williams Co.

SHW · 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 $0 $1.1b $1.1b 322707407407.4% $12.33
2017 $0 (-9.1%) $1.8b (56.5%) $1.7b (55.3%) 555568025078.4% (72.2%) $19.08 (54.7%)
2018 $0 (-10.0%) $1.1b (-37.4%) $1.7b (1.9%) 386322648083.6% (-30.5%) $11.92 (-37.5%)
2019 $0 (2.8%) $1.5b (39.0%) $2.0b (17.7%) 522474576271.2% (35.2%) $16.79 (40.9%)
2020 $0 (1.0%) $2.0b (31.7%) $3.1b (55.8%) 681342281879.2% (30.4%) $22.45 (33.7%)
2021 $0 (43.6%) $1.9b (-8.2%) $1.9b (-39.7%) 435607476635.5% (-36.1%) $7.10 (-68.4%)
2022 $0 (-1.6%) $2.0b (8.4%) $1.3b (-31.9%) 479833729216.2% (10.2%) $7.83 (10.3%)
2023 $0 (10.9%) $2.4b (18.3%) $2.6b (106.5%) 511520342612.4% (6.6%) $9.35 (19.4%)
2024 $0 (3.9%) $2.7b (12.2%) $2.1b (-20.9%) 552865979381.4% (8.1%) $10.68 (14.2%)
2025 $0 (-32.8%) $2.6b (-4.2%) $2.7b (27.4%) 787883435582.8% (42.5%) $10.37 (-2.9%)

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