Discounted Cash Flow
Audiocodes Ltd. Foreign
—
Sales growth has weakened: 10.5% (2022) → -11.2% (2023) → -0.9% (2024) → 1.4% (2025). Revenue growth has been decelerating or declining in recent years and is now 1.4% — a slowing company may not sustain the growth the DCF projects, so the valuation could be overstated.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | $48.0m | $5.4m | $5.6m | 11.2% | $0.46 |
| 2017 | $51.7m (7.7%) | $1.3m (-75.2%) | $5.3m (-4.0%) | 2.6% (-77.0%) | $0.13 (-71.7%) |
| 2018 | $58.2m (12.4%) | $4.5m (234.8%) | $8.0m (49.7%) | 7.7% (197.8%) | $0.47 (261.5%) |
| 2019 | $66.1m (13.7%) | $1.3m (-70.5%) | $7.0m (-12.5%) | 2.0% (-74.1%) | $0.14 (-70.2%) |
| 2020 | $72.9m (10.2%) | $9.0m (585.1%) | $12.2m (74.1%) | 12.3% (521.6%) | $0.87 (521.4%) |
| 2021 | $82.1m (12.7%) | $11.1m (23.9%) | $15.2m (25.0%) | 13.6% (9.9%) | $1.03 (18.4%) |
| 2022 | $90.8m (10.5%) | $9.4m (-15.7%) | $2.2m (-85.3%) | 10.3% (-23.7%) | $0.89 (-13.6%) |
| 2023 | $80.7m (-11.2%) | $2.9m (-69.2%) | $2.9m (31.4%) | 3.6% (-65.3%) | $0.28 (-68.5%) |
| 2024 | $79.9m (-0.9%) | $5.1m (74.4%) | $3.6m (22.9%) | 6.3% (76.0%) | $0.51 (82.1%) |
| 2025 | $81.1m (1.4%) | $3.0m (-41.5%) | $7.6m (108.6%) | 3.6% (-42.3%) | $0.31 (-39.2%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in ILS. Values above are converted to USD for comparison with the US-listed share price.
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): —
Net debt deduction: —
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.