Discounted Cash Flow

Gold Fields Ltd. ADR

GFI · Based on 10 years of SEC filings · Converted from ZAR to USD

—

⚠ Cash flow predictability 55/100 (moderate) — FCF YoY std dev 55%, net income 77% (full history)

▲ Accelerating sales growth

Sales growth has accelerated: 2.2% (2022) → 5.0% (2023) → 15.6% (2024) → 68.2% (2025). Revenue growth has been accelerating in recent years and is now 68.2% — 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	$165.1m	$9.8m	$38.5m	5.9%	$0.19
2017	$171.0m (3.6%)	$-1.2m (-111.8%)	$24.1m (-37.5%)	-0.7% (-111.4%)	$-0.04 (-121.1%)
2018	$159.6m (-6.7%)	$-21.6m (-1762.0%)	$10.8m (-55.1%)	-13.5% (-1894.9%)	$-0.42 (-950.0%)
2019	$183.8m (15.1%)	$10.0m (146.4%)	$41.6m (285.7%)	5.4% (140.3%)	$0.20 (147.6%)
2020	$241.0m (31.2%)	$44.8m (347.4%)	$73.4m (76.4%)	18.6% (241.1%)	$0.82 (310.0%)
2021	$259.8m (7.8%)	$48.9m (9.2%)	$72.9m (-0.8%)	18.8% (1.3%)	$0.89 (8.5%)
2022	$265.5m (2.2%)	$44.0m (-9.9%)	$90.9m (24.7%)	16.6% (-11.8%)	$0.80 (-10.1%)
2023	$278.7m (5.0%)	$43.6m (-1.1%)	$72.0m (-20.8%)	15.6% (-5.8%)	$0.79 (-1.3%)
2024	$322.1m (15.6%)	$77.1m (77.0%)	$98.8m (37.3%)	23.9% (53.2%)	$1.39 (75.9%)
2025	$542.0m (68.2%)	$327.9m (325.3%)	$266.9m (170.1%)	60.5% (152.8%)	$3.99 (187.1%)

Base FCF: — (latest fiscal year)

Discount rate: %

Terminal growth: —

Projection period: — years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in ZAR. 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