Discounted Cash Flow

Federal Realty Investment Trust REIT

FRT · 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 $801.6m $249.9m $419.3m 31.2% $3.51
2017 $857.3m (7.0%) $289.9m (16.0%) $459.2m (9.5%) 33.8% (8.5%) $3.97 (13.1%)
2018 $915.4m (6.8%) $241.9m (-16.6%) $516.7m (12.5%) 26.4% (-21.9%) $3.18 (-19.9%)
2019 $935.8m (2.2%) $353.9m (46.3%) $461.9m (-10.6%) 37.8% (43.1%) $4.61 (45.0%)
2020 $835.5m (-10.7%) $131.7m (-62.8%) $369.9m (-19.9%) 15.8% (-58.3%) $1.62 (-64.9%)
2021 $951.2m (13.9%) $261.5m (98.5%) $471.4m (27.4%) 27.5% (74.4%) $3.26 (101.2%)
2022 $1.1b (12.9%) $385.5m (47.4%) $100.1m (-78.8%) 35.9% (30.5%) $4.71 (44.5%)
2023 $1.1b (5.4%) $237.0m (-38.5%) $244.7m (144.5%) 20.9% (-41.7%) $2.80 (-40.6%)
2024 $1.2b (6.2%) $295.2m (24.6%) $327.8m (34.0%) 24.6% (17.3%) $3.42 (22.1%)
2025 $1.3b (6.4%) $411.1m (39.2%) $331.0m (1.0%) 32.1% (30.9%) $4.68 (36.8%)

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