$24.45
+3.4%Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 74 properties in the United States and five properties internationally totaling approximately 46,100 rooms. The Company also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriottยฎ, Ritz-Carltonยฎ, Westinยฎ, Sheratonยฎ, Wยฎ, St. Regisยฎ, The Luxury Collectionยฎ, Hyattยฎ, Fairmontยฎ, Hiltonยฎ, Swissรดtelยฎ, ibisยฎ and Novotelยฎ, as well as independent brands. For additional information, please visit the Company's website at www.hosthotels.com.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.4B | $1.2B | $1.1B | $999.4M | $902.6M | $815.2M | $736.2M | $664.9M | $600.5M | $542.4M |
| Maintenance CapEx | -$116.3M | -$105.1M | -$94.9M | -$85.7M | -$77.4M | -$69.9M | -$63.1M | -$57.0M | -$51.5M | -$46.5M |
| Owner Earnings | $1.2B | $1.1B | $1.0B | $913.7M | $825.2M | $745.3M | $673.1M | $607.9M | $549.0M | $495.9M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $1.1B | $960.3M | $803.1M | $671.6M | $561.6M | $469.6M | $392.7M | $328.4M | $274.7M | $229.7M |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.