Discounted Cash Flow
Galaxy Digital Inc.
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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 | $11.5m | $-5.8m | $-2.0m | -50.0% | $-4.20 |
| 2017 | $11.8m (2.5%) | $-1.4m (76.3%) | $-714.4k (63.5%) | -11.6% (76.9%) | $-0.45 (89.3%) |
| 2018 | $9.8m (-16.7%) | $-2.8m (-102.3%) | $-831.6k (-16.4%) | -28.1% (-142.9%) | $-89.05 (-19688.9%) |
| 2019 | $7.2m (-26.7%) | $-4.1m (-48.7%) | $-3.1m (-267.5%) | -56.9% (-102.7%) | $-8.16 (90.8%) |
| 2020 | $7.9m (9.6%) | $-1.3m (68.3%) | $-360.4k (88.2%) | -16.5% (71.0%) | $-0.59 (92.8%) |
| 2021 | $9.6m (21.6%) | $-1.4m (-11.1%) | $-773.0k (-114.5%) | -15.1% (8.6%) | $-26.63 (-4413.6%) |
| 2022 | $12.2m (26.8%) | $-1.5m (-2.6%) | $-181.7k (76.5%) | -12.2% (19.2%) | $8.26 (131.0%) |
| 2023 | $37.4b (306855.1%) | $-694.8k (53.1%) | $-11.4m (-6196.0%) | -0.0% (100.0%) | $-1.89 (-122.9%) |
| 2024 | $30.8b (-17.7%) | $-287.3k (58.6%) | $-148.5m (-1198.7%) | -0.0% (49.8%) | $-0.66 (65.1%) |
| 2025 | $43.6b (41.7%) | $0 (100.0%) | $-313.7m (-111.2%) | 0.0% (100.0%) | $-0.80 (-21.2%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in CAD. 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): —
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.