Discounted Cash Flow

Stock Yards Bancorp, Inc.

SYBT · 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 $97.3m $41.0m $56.9m 42.2% $1.84
2017 $103.6m (6.5%) $38.0m (-7.3%) $50.9m (-10.6%) 36.7% (-13.0%) $1.69 (-8.2%)
2018 $23.8m (-77.0%) $55.5m (45.9%) $58.8m (15.6%) 233.2% (535.0%) $2.45 (45.0%)
2019 $22.6m (-4.9%) $66.1m (19.0%) $53.3m (-9.3%) 291.8% (25.1%) $2.92 (19.2%)
2020 $23.4m (3.4%) $58.9m (-10.9%) $71.7m (34.4%) 251.5% (-13.8%) $2.61 (-10.6%)
2021 $171.1m (630.9%) $74.6m (26.8%) $97.5m (36.1%) 43.6% (-82.7%) $3.00 (14.9%)
2022 $233.4m (36.4%) $93.0m (24.6%) $90.3m (-7.4%) 39.8% (-8.7%) $3.24 (8.0%)
2023 $247.3m (6.0%) $107.7m (15.9%) $99.0m (9.6%) 43.6% (9.4%) $3.69 (13.9%)
2024 $257.0m (3.9%) $114.5m (6.3%) $133.0m (34.4%) 44.6% (2.3%) $3.91 (6.0%)
2025 $300.3m (16.8%) $140.2m (22.4%) $154.0m (15.8%) 46.7% (4.7%) $4.77 (22.0%)

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