Discounted Cash Flow

First Financial Corp. /In/

THFF · 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 $109.4m $38.4m $38.1m 35.1% $3.12
2017 $114.2m (4.4%) $29.1m (-24.2%) $47.2m (23.6%) 25.5% (-27.4%) $2.38 (-23.7%)
2018 $126.2m (10.5%) $46.6m (59.9%) $55.4m (17.6%) 36.9% (44.7%) $3.80 (59.7%)
2019 $149.1m (18.1%) $48.9m (4.9%) $48.8m (-12.0%) 32.8% (-11.2%) $3.80 (0.0%)
2020 $160.5m (7.6%) $53.8m (10.2%) $73.5m (50.7%) 33.6% (2.4%) $3.93 (3.4%)
2021 $152.2m (-5.2%) $53.0m (-1.6%) $51.2m (-30.3%) 34.8% (3.8%) $4.02 (2.3%)
2022 $183.3m (20.4%) $71.1m (34.2%) $77.4m (51.0%) 38.8% (11.4%) $5.82 (44.8%)
2023 $228.4m (24.6%) $60.7m (-14.7%) $79.5m (2.8%) 26.6% (-31.5%) $5.08 (-12.7%)
2024 $264.7m (15.9%) $47.3m (-22.1%) $54.3m (-31.8%) 17.9% (-32.8%) $4.00 (-21.3%)
2025 $305.6m (15.4%) $79.2m (67.5%) $86.4m (59.3%) 25.9% (45.2%) $6.68 (67.0%)

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