Discounted Cash Flow

Criteo S.A. ADR

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

Cash flow predictability 79/100 (stable) — FCF YoY std dev 23%, net income 60% (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 $2.1b $95.9m $178.8m 4.6% $1.30
2017 $2.7b (27.7%) $106.3m (10.9%) $286.0m (59.9%) 4.0% (-13.1%) $1.40 (7.7%)
2018 $2.7b (0.2%) $103.3m (-2.8%) $303.8m (6.2%) 3.9% (-3.0%) $1.33 (-5.0%)
2019 $2.6b (-1.7%) $105.7m (2.4%) $259.6m (-14.5%) 4.0% (4.1%) $1.41 (6.0%)
2020 $2.4b (-8.4%) $83.5m (-21.0%) $216.0m (-16.8%) 3.5% (-13.8%) $1.18 (-16.3%)
2021 $2.6b (8.8%) $156.7m (87.6%) $257.4m (19.2%) 6.0% (72.5%) $2.21 (87.3%)
2022 $2.4b (-10.5%) $10.4m (-93.3%) $298.3m (15.9%) 0.4% (-92.6%) $0.15 (-93.2%)
2023 $2.3b (-3.3%) $62.1m (494.9%) $261.3m (-12.4%) 2.7% (515.6%) $0.95 (533.3%)
2024 $2.3b (-0.8%) $130.0m (109.5%) $300.8m (15.1%) 5.8% (111.2%) $2.04 (114.7%)
2025 $2.3b (0.6%) $168.5m (29.6%) $362.7m (20.6%) 7.4% (28.8%) $2.73 (33.8%)

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