Discounted Cash Flow

Smartfinancial Inc.

SMBK · 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 $42.6m $5.8m $4.6m 13.6% $0.82
2017 $52.0m (22.2%) $5.0m (-13.5%) $3.8m (-16.4%) 9.6% (-29.2%) $0.56 (-31.7%)
2018 $92.2m (77.3%) $18.1m (261.0%) $17.0m (341.7%) 19.6% (103.6%) $1.46 (160.7%)
2019 $108.5m (17.6%) $26.5m (46.7%) $23.6m (39.0%) 24.5% (24.7%) $1.90 (30.1%)
2020 $117.6m (8.4%) $24.3m (-8.3%) $23.6m (0.1%) 20.7% (-15.5%) $1.63 (-14.2%)
2021 $125.2m (6.5%) $34.8m (43.0%) $43.8m (85.4%) 27.8% (34.3%) $2.23 (36.8%)
2022 $158.8m (26.8%) $43.0m (23.7%) $44.3m (1.1%) 27.1% (-2.5%) $2.57 (15.2%)
2023 $218.0m (37.3%) $28.6m (-33.5%) $33.4m (-24.5%) 13.1% (-51.6%) $1.70 (-33.9%)
2024 $251.1m (15.2%) $36.1m (26.4%) $46.3m (38.4%) 14.4% (9.7%) $2.16 (27.1%)
2025 $286.0m (13.9%) $50.3m (39.3%) $59.3m (28.2%) 17.6% (22.3%) $3.00 (38.9%)

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