Discounted Cash Flow

Renaissancere Holdings Ltd.

RNR · 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 $1.7b $503.0m $469.8m 29.1% $11.50
2017 $2.1b (21.8%) $-222.4m (-144.2%) $1.0b (122.6%) -10.6% (-136.3%) $-6.15 (-153.5%)
2018 $2.1b (-1.4%) $227.4m (202.2%) $1.2b (16.8%) 11.0% (203.7%) $4.91 (179.8%)
2019 $4.2b (102.5%) $748.8m (229.3%) $2.1b (74.9%) 17.8% (62.6%) $16.32 (232.4%)
2020 $5.2b (23.1%) $762.4m (1.8%) $2.0b (-6.8%) 14.7% (-17.3%) $15.34 (-6.0%)
2021 $5.3b (2.0%) $-40.2m (-105.3%) $1.2b (-38.0%) -0.8% (-105.2%) $-1.57 (-110.2%)
2022 $5.1b (-4.1%) $-1.1b (-2542.8%) $1.6b (29.9%) -21.0% (-2656.2%) $-25.50 (-1524.2%)
2023 $9.1b (80.5%) $2.6b (341.3%) $1.9b (19.2%) 28.0% (233.7%) $52.40 (305.5%)
2024 $11.7b (28.0%) $1.9b (-27.0%) $4.2b (117.9%) 16.0% (-43.0%) $35.31 (-32.6%)
2025 $12.8b (9.9%) $2.7b (43.4%) $3.7b (-11.3%) 20.9% (30.5%) $56.23 (59.2%)

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