$60.00
+0.76%Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.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 | $152.2M | $235.2M | $363.6M | $562.0M | $868.7M | $1.3B | $2.1B | $3.2B | $5.0B | $7.7B |
| Maintenance CapEx | -$10.6M | -$16.3M | -$25.2M | -$39.0M | -$60.3M | -$93.2M | -$144.0M | -$222.6M | -$344.1M | -$531.9M |
| Owner Earnings | $141.6M | $218.9M | $338.4M | $523.0M | $808.4M | $1.2B | $1.9B | $3.0B | $4.6B | $7.1B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $131.1M | $187.7M | $268.6M | $384.4M | $550.2M | $787.4M | $1.1B | $1.6B | $2.3B | $3.3B |
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.