Discounted Cash Flow

Terex Corp.

TEX · Based on 10 years of SEC filings · Converted from EUR to USD

⚠ Cash flow predictability 53/100 (moderate) — FCF YoY std dev 75%, net income 68% (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 $5.2b $-205.2m $359.9m -4.0% $-1.63
2017 $5.1b (-1.8%) $150.0m (173.1%) $127.6m (-64.6%) 2.9% (174.4%) $1.39 (185.3%)
2018 $6.0b (17.5%) $132.5m (-11.7%) $-11.2m (-108.8%) 2.2% (-24.8%) $1.51 (8.6%)
2019 $5.1b (-15.1%) $63.4m (-52.2%) $79.1m (807.3%) 1.2% (-43.7%) $0.77 (-49.0%)
2020 $3.6b (-29.3%) $-12.4m (-119.5%) $187.5m (137.0%) -0.3% (-127.6%) $-0.15 (-119.5%)
2021 $4.5b (26.3%) $257.4m (2184.0%) $272.3m (45.2%) 5.7% (1749.5%) $3.17 (2213.3%)
2022 $5.1b (13.7%) $349.6m (35.8%) $175.9m (-35.4%) 6.8% (19.5%) $4.38 (38.2%)
2023 $6.0b (16.6%) $603.6m (72.7%) $386.8m (119.9%) 10.1% (48.1%) $7.67 (75.1%)
2024 $6.0b (-0.5%) $390.3m (-35.3%) $220.2m (-43.1%) 6.5% (-35.0%) $5.00 (-34.8%)
2025 $6.3b (5.7%) $257.5m (-34.0%) $375.2m (70.4%) 4.1% (-37.6%) $3.36 (-32.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in EUR. 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):

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