Discounted Cash Flow
PPG Industries Inc.
—
Sales growth has weakened: 5.1% (2022) → 3.4% (2023) → -13.2% (2024) → 0.2% (2025). Revenue growth has been decelerating or declining in recent years and is now 0.2% — a slowing company may not sustain the growth the DCF projects, so the valuation could be overstated.
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 | $17.1b | $1.0b | $1.1b | 5.9% | $3.30 |
| 2017 | $17.1b (-0.0%) | $1.9b (81.8%) | $1.4b (30.9%) | 10.8% (81.8%) | $6.22 (88.5%) |
| 2018 | $17.9b (4.2%) | $1.6b (-15.9%) | $1.2b (-12.6%) | 8.7% (-19.3%) | $5.50 (-11.6%) |
| 2019 | $17.6b (-1.5%) | $1.4b (-7.3%) | $1.9b (57.9%) | 8.2% (-5.9%) | $5.25 (-4.5%) |
| 2020 | $16.1b (-8.7%) | $1.2b (-14.8%) | $2.1b (9.5%) | 7.7% (-6.7%) | $4.47 (-14.9%) |
| 2021 | $19.5b (21.5%) | $1.7b (35.9%) | $1.4b (-34.8%) | 8.6% (11.9%) | $6.06 (35.6%) |
| 2022 | $20.5b (5.1%) | $1.2b (-28.7%) | $516.9m (-62.6%) | 5.8% (-32.1%) | $4.34 (-28.4%) |
| 2023 | $21.2b (3.4%) | $1.5b (23.8%) | $2.2b (318.4%) | 7.0% (19.8%) | $5.38 (24.0%) |
| 2024 | $18.4b (-13.2%) | $1.3b (-12.1%) | $812.0m (-62.5%) | 7.0% (1.2%) | $4.77 (-11.3%) |
| 2025 | $18.4b (0.2%) | $1.8b (41.2%) | $1.4b (66.4%) | 9.9% (41.0%) | $6.96 (45.9%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in EUR. 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): —
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.