Discounted Cash Flow

Waterstone Financial, Inc.

WSBF · 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 $25.5m $-25.1m $0.94
2017 $26.0m (1.7%) $105.5m (519.6%) $0.95 (1.1%)
2018 $30.8m (18.4%) $39.0m (-63.1%) $1.12 (17.9%)
2019 $35.9m (16.7%) $-43.3m (-211.2%) $1.38 (23.2%)
2020 $81.1m (126.0%) $-101.8m (-134.9%) $3.32 (140.6%)
2021 $70.8m (-12.8%) $153.7m (251.0%) $2.98 (-10.2%)
2022 $19.5m (-72.5%) $206.0m (34.0%) $0.89 (-70.1%)
2023 $9.4m (-51.9%) $-28.3m (-113.7%) $0.47 (-47.2%)
2024 $18.7m (99.3%) $47.0m (266.1%) $1.01 (114.9%)
2025 $26.4m (41.3%) $23.0m (-51.0%) $1.48 (46.5%)

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