AVB - NYSE
AvalonBay Communities, Inc.
$189.19
+3.2%As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the Expansion Markets).
At a Glance
Live SnapshotAvalonBay Communities, Inc. Fair Value Envelope
Owner Earnings Valuation Tool
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Historical Financial Data
Base year metrics used for projections
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Forecast period and terminal assumptions
DCF Valuation Summary
Calculation flow from present value to intrinsic value per share
Owner Earnings Projections
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 | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B |
| Maintenance CapEx | -$53.1M | -$53.3M | -$53.4M | -$53.6M | -$53.7M | -$53.9M | -$54.0M | -$54.1M | -$54.3M | -$54.4M |
| Owner Earnings | $1.6B | $1.6B | $1.6B | $1.6B | $1.6B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $1.5B | $1.4B | $1.3B | $1.2B | $1.1B | $1.0B | $966.6M | $897.4M | $833.2M | $773.6M |
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