Discounted Cash Flow

Trustmark Corp.

TRMK · 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 $412.1m $108.4m $137.2m 26.3% $1.60
2017 $449.8m (9.2%) $105.6m (-2.6%) $193.4m (40.9%) 23.5% (-10.7%) $1.56 (-2.5%)
2018 $485.6m (8.0%) $149.6m (41.6%) $224.6m (16.1%) 30.8% (31.2%) $2.22 (42.3%)
2019 $510.5m (5.1%) $150.5m (0.6%) $99.1m (-55.9%) 29.5% (-4.3%) $2.33 (5.0%)
2020 $468.3m (-8.3%) $160.0m (6.4%) $42.8m (-56.9%) 34.2% (15.9%) $2.52 (8.2%)
2021 $442.5m (-5.5%) $147.4m (-7.9%) $321.4m (651.5%) 33.3% (-2.5%) $2.35 (-6.7%)
2022 $541.8m (22.4%) $71.9m (-51.2%) $269.9m (-16.0%) 13.3% (-60.2%) $1.17 (-50.2%)
2023 $878.8m (62.2%) $165.5m (130.2%) $156.8m (-41.9%) 18.8% (41.9%) $2.71 (131.6%)
2024 $960.3m (9.3%) $223.0m (34.8%) $93.4m (-40.4%) 23.2% (23.3%) $3.65 (34.7%)
2025 $948.6m (-1.2%) $224.1m (0.5%) $232.0m (148.2%) 23.6% (1.7%) $3.72 (1.9%)

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