$51.81
-0.19%FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as engages in the mortgage origination business. The company also provides owner-occupied and non-owner-occupied real estate commercial, residential real estate 1-4 family mortgage, multi-family residential, commercial and industrial, construction, land acquisition, residential lines of credit, and land development loans; and consumer and other loans, such as car, boat, and other recreational vehicle loans, as well as manufactured homes without real estate and personal lines of credit. In addition, the company offers mortgage banking services through its bank branch networks in the southeastern United States; an internet delivery channel; and trust, insurance, and investment services, as well as online and mobile banking services. As of December 31, 2021, it operated 82 full-service bank branches and 9 limited-service branches locations throughout Tennessee, North Alabama, Southern Kentucky, and North Georgia; and 23 mortgage offices throughout the southeastern United States. The company was formerly known as First South Bancorp, Inc. and changed its name to FB Financial Corporation in 2016. FB Financial Corporation was founded in 1906 and is headquartered in Nashville, Tennessee.
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 | $173.3M | $192.6M | $214.1M | $238.0M | $264.5M | $294.1M | $326.9M | $363.4M | $403.9M | $449.0M |
| Maintenance CapEx | -$2.0M | -$2.2M | -$2.4M | -$2.7M | -$3.0M | -$3.3M | -$3.7M | -$4.1M | -$4.6M | -$5.1M |
| Owner Earnings | $171.3M | $190.4M | $211.7M | $235.3M | $261.5M | $290.7M | $323.2M | $359.2M | $399.3M | $443.9M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $158.6M | $163.2M | $168.0M | $172.9M | $178.0M | $183.2M | $188.6M | $194.1M | $199.8M | $205.6M |
Snapshot
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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.