Discounted Cash Flow

First Hawaiian, Inc.

FHB · 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 $491.7m $230.2m $219.9m 46.8% $1.65
2017 $528.8m (7.6%) $183.7m (-20.2%) $269.8m (22.7%) 34.7% (-25.8%) $1.32 (-20.0%)
2018 $745.3m (40.9%) $264.4m (43.9%) $351.4m (30.3%) 35.5% (2.1%) $1.93 (46.2%)
2019 $765.9m (2.8%) $284.4m (7.6%) $296.5m (-15.6%) 37.1% (4.7%) $2.14 (10.9%)
2020 $733.1m (-4.3%) $185.8m (-34.7%) $209.5m (-29.3%) 25.3% (-31.8%) $1.43 (-33.2%)
2021 $715.5m (-2.4%) $265.7m (43.1%) $417.1m (99.1%) 37.1% (46.6%) $2.06 (44.1%)
2022 $793.1m (10.8%) $265.7m (-0.0%) $417.3m (0.0%) 33.5% (-9.8%) $2.08 (1.0%)
2023 $836.9m (5.5%) $235.0m (-11.6%) $239.0m (-42.7%) 28.1% (-16.2%) $1.84 (-11.5%)
2024 $808.5m (-3.4%) $230.1m (-2.1%) $288.7m (20.8%) 28.5% (1.4%) $1.80 (-2.2%)
2025 $880.8m (8.9%) $276.3m (20.0%) $303.3m (5.0%) 31.4% (10.2%) $2.21 (22.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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