Discounted Cash Flow

Sunlands Technology Group ADR

STG · Based on 10 years of SEC filings · Converted from CNY to USD

DCF estimate unavailable — only_2_profitable_out_of_10

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 $418.9m $-37.6m $13.3m -9.0% $-66.40
2017 $970.2m (131.6%) $-20.2k (99.9%) $62.6m (372.0%) -0.0% (100.0%) $-232.80 (-250.6%)
2018 $2.0b (104.3%) $10.7k (152.9%) $15.6m (-75.0%) 0.0% (125.9%) $-147.27 (36.7%)
2019 $2.2b (11.0%) $-51.7k (-583.3%) $-79.7m (-610.4%) -0.0% (-535.4%) $-57.81 (60.7%)
2020 $2.2b (0.2%) $-66.2k (-28.2%) $-28.3m (64.5%) -0.0% (-28.0%) $-63.74 (-10.3%)
2021 $2.5b (13.9%) $-993.3k (-1400.0%) $-55.7m (-97.0%) -0.0% (-1217.1%) $32.56 (151.1%)
2022 $2.3b (-7.2%) $-141.0k (85.8%) $1.3m (102.3%) -0.0% (84.7%) $13.65 (-58.1%)
2023 $2.2b (-7.1%) $148 (100.1%) $20.8m (1513.9%) 0.0% (100.1%) $13.08 (-4.2%)
2024 $2.0b (-7.8%) $0 (-100.0%) $29.0m (39.6%) 0.0% (-100.0%) $6.87 (-47.5%)
2025 $2.0b (1.5%) $0 $21.8m (-24.9%) 0.0% $7.76 (13.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.

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

only_2_profitable_out_of_10

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.