$25.74
-0.44%AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. The company sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. As of July 1, 2022, it owned approximately 17,000 acres in Sandoval County, New Mexico. The company owns an approximately 160-acre property in Brighton, Colorado. It also owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado. Additionally, the company focuses on selling single-family detached homes and attached homes. AMREP Corporation was founded in 1961 and is headquartered in Havertown, Pennsylvania.
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 | $9.6M | $9.1M | $8.6M | $8.1M | $7.6M | $7.1M | $6.7M | $6.3M | $6.0M | $5.6M |
| Maintenance CapEx | -$109.8K | -$103.4K | -$97.4K | -$91.7K | -$86.3K | -$81.3K | -$76.6K | -$72.1K | -$67.9K | -$63.9K |
| Owner Earnings | $9.5M | $9.0M | $8.5M | $8.0M | $7.5M | $7.1M | $6.6M | $6.3M | $5.9M | $5.6M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $8.8M | $7.7M | $6.7M | $5.9M | $5.1M | $4.4M | $3.9M | $3.4M | $2.9M | $2.6M |
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.