Discounted Cash Flow

Whitestone Reit REIT

WSR · 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 $104.4m $7.9m $39.2m 7.6% $0.26
2017 $126.0m (20.6%) $8.3m (5.1%) $41.0m (4.5%) 6.6% (-12.9%) $0.22 (-15.4%)
2018 $119.9m (-4.8%) $21.4m (157.2%) $39.6m (-3.4%) 17.9% (170.2%) $0.54 (145.5%)
2019 $119.3m (-0.5%) $23.7m (10.5%) $47.7m (20.7%) 19.9% (11.1%) $0.59 (9.3%)
2020 $117.9m (-1.1%) $6.0m (-74.5%) $42.8m (-10.4%) 5.1% (-74.2%) $0.14 (-76.3%)
2021 $125.4m (6.3%) $12.0m (99.7%) $47.0m (10.0%) 9.6% (87.8%) $0.26 (85.7%)
2022 $139.4m (11.2%) $35.3m (192.7%) $44.3m (-5.8%) 25.3% (163.2%) $0.72 (176.9%)
2023 $147.0m (5.4%) $19.2m (-45.6%) $47.5m (7.1%) 13.1% (-48.4%) $0.39 (-45.8%)
2024 $154.3m (5.0%) $36.9m (92.4%) $58.0m (22.2%) 23.9% (83.2%) $0.73 (87.2%)
2025 $160.9m (4.3%) $49.9m (35.3%) $50.5m (-13.0%) 31.0% (29.8%) $0.98 (34.2%)

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