Discounted Cash Flow

Ceco Environmental Corp.

CECO · Based on 10 years of SEC filings · Converted from EUR to USD

⚠ Cash flow predictability 36/100 (unstable) — FCF YoY std dev 87%, net income 80% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

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 $484.4m $-44.4m $79.6m -9.2% $-1.12
2017 $400.8m (-17.3%) $-3.5m (92.1%) $6.4m (-91.9%) -0.9% (90.4%) $-0.09 (92.0%)
2018 $391.9m (-2.2%) $-8.3m (-135.1%) $21.9m (240.3%) -2.1% (-140.5%) $-0.21 (-133.3%)
2019 $397.1m (1.3%) $20.6m (348.7%) $5.3m (-75.8%) 5.2% (345.4%) $0.51 (342.9%)
2020 $367.1m (-7.6%) $9.5m (-53.6%) $552.9k (-89.6%) 2.6% (-49.8%) $0.23 (-54.9%)
2021 $376.5m (2.6%) $1.7m (-82.6%) $12.4m (2144.1%) 0.4% (-83.1%) $0.04 (-82.6%)
2022 $490.9m (30.4%) $20.2m (1121.4%) $30.5m (146.0%) 4.1% (836.8%) $0.50 (1150.0%)
2023 $632.9m (28.9%) $15.0m (-25.9%) $42.1m (38.0%) 2.4% (-42.5%) $0.37 (-26.0%)
2024 $648.1m (2.4%) $15.1m (0.4%) $8.7m (-79.4%) 2.3% (-2.0%) $0.37 (0.0%)
2025 $899.5m (38.8%) $58.1m (286.3%) $-6.4m (-173.5%) 6.5% (178.3%) $1.42 (283.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in EUR. 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):

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