Discounted Cash Flow

Tanger Inc. REIT

SKT · 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 $1.0b $193.7m $478.6m 18.7%
2017 $976.5m (-6.0%) $139.6m (-27.9%) $506.3m (5.8%) 14.3% (-23.4%)
2018 $989.4m (1.3%) $89.6m (-35.8%) $516.6m (2.0%) 9.1% (-36.6%)
2019 $956.7m (-3.3%) $180.4m (101.2%) $440.8m (-14.7%) 18.9% (108.1%)
2020 $780.0m (-18.5%) $-74.5m (-141.3%) $329.6m (-25.2%) -9.5% (-150.6%)
2021 $853.0m (9.4%) $18.7m (125.1%) $18.7m (-94.3%) 2.2% (122.9%)
2022 $885.2m (3.8%) $167.9m (799.0%) $427.9m (2191.2%) 19.0% (766.3%)
2023 $928.8m (4.9%) $202.8m (20.8%) $459.1m (7.3%) 21.8% (15.1%)
2024 $1.1b (13.3%) $201.4m (-0.7%) $521.3m (13.5%) 19.1% (-12.3%)
2025 $1.2b (10.5%) $234.3m (16.3%) $590.8m (13.3%) 20.1% (5.2%)

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