Discounted Cash Flow

Pagseguro Digital Ltd. Foreign

PAGS · Based on 10 years of SEC filings · Converted from BRL to USD

⚠ Cash flow predictability 40/100 (moderate) — FCF YoY std dev 87%, net income 38% (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 $222.1m $24.8m $14.6m 11.2%
2017 $492.4m (121.7%) $93.4m (276.4%) $87.0m (494.4%) 19.0% (69.8%)
2018 $845.9m (71.8%) $177.4m (89.9%) $-356.1m (-509.4%) 21.0% (10.6%) $2.86
2019 $1.1b (31.7%) $266.5m (50.2%) $29.5m (108.3%) 23.9% (14.1%) $4.15 (45.1%)
2020 $1.3b (19.4%) $252.1m (-5.4%) $411.3m (1293.4%) 19.0% (-20.8%) $3.92 (-5.4%)
2021 $2.0b (53.3%) $227.6m (-9.7%) $124.9m (-69.6%) 11.2% (-41.1%) $3.53 (-10.0%)
2022 $3.0b (46.8%) $293.6m (29.0%) $635.7m (409.0%) 9.8% (-12.1%) $4.60 (30.3%)
2023 $3.1b (4.0%) $322.7m (9.9%) $702.6m (10.5%) 10.4% (5.7%) $5.14 (11.7%)
2024 $3.7b (17.9%) $413.0m (28.0%) $-819.7m (-216.7%) 11.3% (8.5%) $6.70 (30.3%)
2025 $4.0b (8.5%) $413.4m (0.1%) $1.3b (255.3%) 10.4% (-7.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in BRL. Values above are converted to USD for comparison with the US-listed share price.

Values abbreviated: b = billions, m = millions, k = thousands.

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