Discounted Cash Flow

TFS Financial Corp.

TFSL · 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 $80.6m $75.8m $0.28
2017 $88.9m (10.3%) $104.5m (37.9%) $0.32 (14.3%)
2018 $85.4m (-3.9%) $138.6m (32.6%) $0.31 (-3.1%)
2019 $80.2m (-6.1%) $99.2m (-28.4%) $0.29 (-6.5%)
2020 $83.3m (3.8%) $118.6m (19.5%) $0.30 (3.4%)
2021 $81.0m (-2.8%) $81.8m (-31.0%) $0.29 (-3.3%)
2022 $74.6m (-8.0%) $36.2m (-55.7%) $0.26 (-10.3%)
2023 $75.2m (0.9%) $85.6m (136.3%) $0.27 (3.8%)
2024 $79.6m (5.8%) $85.5m (-0.1%) $0.28 (3.7%)
2025 $91.0m (14.3%) $71.0m (-17.0%) $0.32 (14.3%)

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