Discounted Cash Flow

First Industrial Realty Trust Inc. REIT

FR · 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 $378.0m $121.2m $173.3m 32.1% $1.05
2017 $396.4m (4.9%) $201.5m (66.2%) $191.1m (10.3%) 50.8% (58.5%) $1.70 (61.9%)
2018 $404.0m (1.9%) $163.2m (-19.0%) $210.5m (10.1%) 40.4% (-20.5%) $1.31 (-22.9%)
2019 $426.0m (5.5%) $238.8m (46.3%) $245.5m (16.6%) 56.1% (38.7%) $1.89 (44.3%)
2020 $448.0m (5.2%) $196.0m (-17.9%) $240.4m (-2.1%) 43.7% (-22.0%) $1.53 (-19.0%)
2021 $476.3m (6.3%) $271.0m (38.3%) $266.9m (11.0%) 56.9% (30.1%) $2.09 (36.6%)
2022 $539.9m (13.4%) $359.1m (32.5%) $410.9m (54.0%) 66.5% (16.9%) $2.72 (30.1%)
2023 $614.0m (13.7%) $274.8m (-23.5%) $304.8m (-25.8%) 44.8% (-32.7%) $2.08 (-23.5%)
2024 $669.6m (9.1%) $287.6m (4.6%) $352.5m (15.7%) 42.9% (-4.1%) $2.17 (4.3%)
2025 $727.1m (8.6%) $247.4m (-13.9%) $461.3m (30.9%) 34.0% (-20.7%) $1.87 (-13.8%)

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