Discounted Cash Flow

Host Hotels & Resorts, Inc. REIT

HST · 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 $5.4b $762.0m $1.0b 14.0% $1.03
2017 $5.4b (-0.8%) $564.0m (-26.0%) $1.0b (1.5%) 10.5% (-25.4%) $0.76 (-26.2%)
2018 $5.5b (2.5%) $1.1b (92.7%) $1.0b (0.1%) 19.7% (88.0%) $1.47 (93.4%)
2019 $5.5b (-1.0%) $920.0m (-15.4%) $1.2b (21.8%) 16.8% (-14.5%) $1.26 (-14.3%)
2020 $1.6b (-70.4%) $-732.0m (-179.6%) $-307.0m (-124.6%) -45.2% (-368.6%) $-1.04 (-182.5%)
2021 $2.9b (78.4%) $-11.0m (98.5%) $292.0m (195.1%) -0.4% (99.2%) $-0.02 (98.1%)
2022 $4.9b (69.8%) $633.0m (5854.5%) $912.0m (212.3%) 12.9% (3489.2%) $0.89 (4550.0%)
2023 $5.3b (8.2%) $740.0m (16.9%) $795.0m (-12.8%) 13.9% (8.0%) $1.04 (16.9%)
2024 $5.7b (7.0%) $697.0m (-5.8%) $950.0m (19.5%) 12.3% (-12.0%) $0.99 (-4.8%)
2025 $6.1b (7.6%) $765.0m (9.8%) $866.0m (-8.8%) 12.5% (2.0%) $1.11 (12.1%)

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