Discounted Cash Flow

Tennant Co.

TNC · 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 $808.6m $46.6m $31.4m 5.8% $2.66
2017 $1.0b (24.1%) $-6.2m (-113.3%) $33.7m (7.6%) -0.6% (-110.7%) $-0.35 (-113.2%)
2018 $1.1b (12.0%) $33.4m (639.3%) $61.2m (81.4%) 3.0% (581.5%) $1.86 (631.4%)
2019 $1.1b (1.3%) $45.8m (37.1%) $33.5m (-45.3%) 4.0% (35.4%) $2.53 (36.0%)
2020 $1.0b (-12.0%) $33.7m (-26.4%) $103.9m (210.1%) 3.4% (-16.4%) $1.84 (-27.3%)
2021 $1.1b (9.0%) $64.9m (92.6%) $50.0m (-51.9%) 5.9% (76.7%) $3.51 (90.8%)
2022 $1.1b (0.1%) $66.3m (2.2%) $-50.1m (-200.2%) 6.1% (2.0%) $3.58 (2.0%)
2023 $1.2b (13.9%) $109.5m (65.2%) $165.6m (430.5%) 8.8% (45.1%) $5.92 (65.4%)
2024 $1.3b (3.5%) $83.7m (-23.6%) $68.8m (-58.5%) 6.5% (-26.1%) $4.46 (-24.7%)
2025 $1.2b (-6.5%) $43.8m (-47.7%) $43.3m (-37.1%) 3.6% (-44.1%) $2.38 (-46.6%)

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