Discounted Cash Flow

Stmicroelectronics N.V. ADR

STM · 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 $7.0b $165.0m $1.0b 2.4% $0.19
2017 $8.3b (19.7%) $802.0m (386.1%) $1.7b (64.3%) 9.6% (306.1%) $0.91 (378.9%)
2018 $9.7b (15.8%) $1.3b (60.5%) $1.8b (8.1%) 13.3% (38.6%) $1.43 (57.1%)
2019 $9.6b (-1.1%) $1.0b (-19.8%) $1.9b (1.1%) 10.8% (-18.9%) $1.15 (-19.6%)
2020 $10.2b (6.9%) $1.1b (7.2%) $2.1b (12.2%) 10.8% (0.2%) $1.24 (7.8%)
2021 $12.8b (24.9%) $2.0b (80.8%) $3.0b (45.4%) 15.7% (44.8%) $2.21 (78.2%)
2022 $16.1b (26.4%) $4.0b (98.0%) $1.6b (-48.5%) 24.6% (56.7%) $4.37 (97.7%)
2023 $17.3b (7.2%) $4.2b (6.3%) $6.0b (282.0%) 24.4% (-0.8%) $4.66 (6.6%)
2024 $13.3b (-23.2%) $1.6b (-63.0%) $-216.0m (-103.6%) 11.7% (-51.8%) $1.73 (-62.9%)
2025 $11.8b (-11.1%) $166.0m (-89.3%) $-52.0m (75.9%) 1.4% (-88.0%) $0.19 (-89.0%)

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