Discounted Cash Flow

Assurant, Inc.

AIZ · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

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 $7.5b $565.4m $49.3m 7.5% $9.23
2017 $6.4b (-14.8%) $519.6m (-8.1%) $468.3m (850.0%) 8.1% (7.9%) $9.45 (2.4%)
2018 $8.1b (25.6%) $251.0m (-51.7%) $573.9m (22.5%) 3.1% (-61.5%) $4.00 (-57.7%)
2019 $10.1b (25.2%) $382.6m (52.4%) $1.3b (127.1%) 3.8% (21.8%) $5.87 (46.8%)
2020 $10.1b (0.1%) $441.8m (15.5%) $1.2b (-6.3%) 4.4% (15.4%) $7.04 (19.9%)
2021 $10.2b (0.9%) $1.4b (210.6%) $594.3m (-51.3%) 13.5% (207.8%) $23.13 (228.6%)
2022 $10.2b (0.1%) $276.6m (-79.8%) $410.6m (-30.9%) 2.7% (-79.9%) $5.09 (-78.0%)
2023 $11.1b (9.2%) $642.5m (132.3%) $935.6m (127.9%) 5.8% (112.7%) $12.02 (136.1%)
2024 $11.9b (6.7%) $760.2m (18.3%) $1.1b (18.8%) 6.4% (10.9%) $14.55 (21.0%)
2025 $12.8b (7.9%) $872.7m (14.8%) $1.6b (43.8%) 6.8% (6.4%) $17.14 (17.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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