Discounted Cash Flow

WEX Inc.

WEX · 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 $1.0b $60.6m $-212.9m 6.0% $1.49
2017 $1.3b (22.8%) $160.3m (164.3%) $53.7m (125.2%) 12.8% (115.3%) $3.73 (150.3%)
2018 $1.5b (19.4%) $168.3m (5.0%) $313.1m (483.3%) 11.3% (-12.0%) $3.90 (4.6%)
2019 $1.7b (15.5%) $156.3m (-7.1%) $560.3m (79.0%) 9.1% (-19.6%) $2.29 (-41.3%)
2020 $1.6b (-9.5%) $-283.9m (-281.6%) $776.5m (38.6%) -18.2% (-300.7%) $-5.56 (-342.8%)
2021 $1.3b (-13.5%) $135.3m (147.6%) $64.4m (-91.7%) 10.0% (155.1%) $0.00 (100.0%)
2022 $1.7b (25.2%) $167.2m (23.6%) $566.5m (780.3%) 9.9% (-1.3%) $4.54
2023 $2.5b (50.8%) $266.6m (59.5%) $764.3m (34.9%) 10.5% (5.7%) $6.23 (37.2%)
2024 $2.6b (3.2%) $309.6m (16.1%) $334.1m (-56.3%) 11.8% (12.6%) $7.59 (21.8%)
2025 $2.7b (1.2%) $304.1m (-1.8%) $313.7m (-6.1%) 11.4% (-3.0%) $8.57 (12.9%)

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