Discounted Cash Flow
Bank of Montreal /Can/ Foreign
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Audit / VIE / HFCA: Financial-sector DCF: free cash flow for lenders/insurers includes loan principal and deposits, so FCF ≈ 5-10× net income and is not a valuation proxy; the model shows moderate/unstable predictability and the DCF can be 5-40× market cap (lender pattern).
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
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 | $21.1b | $4.6b | $-3.0b | 21.9% | $6.94 |
| 2017 | $22.3b (5.6%) | $5.3b (15.7%) | $2.6b (188.3%) | 24.0% (9.6%) | $7.95 (14.6%) |
| 2018 | $23.0b (3.5%) | $5.5b (1.9%) | $17.6b (574.4%) | 23.7% (-1.5%) | $8.19 (3.0%) |
| 2019 | $25.5b (10.6%) | $5.8b (5.7%) | $28.8b (63.9%) | 22.6% (-4.5%) | $8.68 (6.0%) |
| 2020 | $25.2b (-1.2%) | $5.1b (-11.5%) | $50.4b (75.0%) | 20.2% (-10.4%) | $7.56 (-12.9%) |
| 2021 | $27.2b (7.9%) | $7.8b (52.1%) | $43.6b (-13.6%) | 28.5% (40.9%) | $11.60 (53.4%) |
| 2022 | $33.7b (24.0%) | $13.5b (74.6%) | $4.2b (-90.4%) | 40.2% (40.8%) | $20.04 (72.8%) |
| 2023 | $31.2b (-7.4%) | $4.4b (-67.8%) | $8.7b (108.3%) | 14.0% (-65.2%) | $5.69 (-71.6%) |
| 2024 | $32.8b (5.1%) | $7.3b (67.7%) | $27.8b (219.1%) | 22.3% (59.5%) | $9.52 (67.3%) |
| 2025 | $36.3b (10.6%) | $8.7b (19.0%) | $9.7b (-64.9%) | 24.0% (7.6%) | $11.46 (20.4%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
Values abbreviated: b = billions, m = millions, k = thousands.
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.