Discounted Cash Flow

Elbit Systems Ltd. ADR

ESLT · Based on 10 years of SEC filings · Converted from ILS to USD

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⚠ Cash flow predictability 39/100 (unstable) — FCF YoY std dev 92%, net income 27% (full history)

▲ Accelerating sales growth

Sales growth has accelerated: 4.4% (2022) → 8.4% (2023) → 14.3% (2024) → 16.3% (2025). Revenue growth has been accelerating in recent years and is now 16.3% — rapidly accelerating growth may be difficult to sustain at this pace, or the DCF (based on historical averages) may understate future momentum.

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.

Or enter your own rate

Inflation rate (used with B/E only)

Historical inputs (10 fiscal years)

YEAR	Sales	Net Income	Free Cash Flow	Net Margin	EPS (diluted)
2016	$1.1b	$78.2m	$27.6m	7.3%	$5.54
2017	$1.1b (3.6%)	$78.9m (0.9%)	$-2.3m (-108.3%)	7.1% (-2.6%)	$5.59 (0.9%)
2018	$1.2b (9.1%)	$68.2m (-13.5%)	$29.5m (1378.9%)	5.6% (-20.7%)	$4.84 (-13.4%)
2019	$1.5b (22.4%)	$75.2m (10.2%)	$-63.0m (-313.7%)	5.1% (-9.9%)	$5.20 (7.4%)
2020	$1.5b (3.4%)	$78.4m (4.3%)	$48.4m (176.8%)	5.1% (0.9%)	$5.38 (3.5%)
2021	$1.7b (13.2%)	$90.5m (15.4%)	$75.3m (55.7%)	5.2% (2.0%)	$6.21 (15.4%)
2022	$1.8b (4.4%)	$90.9m (0.4%)	$11.5m (-84.7%)	5.0% (-3.8%)	$6.21 (0.0%)
2023	$2.0b (8.4%)	$71.0m (-21.9%)	$-24.2m (-309.8%)	3.6% (-28.0%)	$4.85 (-21.9%)
2024	$2.3b (14.3%)	$106.0m (49.3%)	$105.5m (535.8%)	4.7% (30.6%)	$7.22 (48.9%)
2025	$2.6b (16.3%)	$176.3m (66.4%)	$182.4m (73.0%)	6.7% (43.1%)	$11.69 (61.9%)

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): —

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