Intrinsic value of American Homes 4 Rent Cl A - AMH

Previous Close

$22.74

  Intrinsic Value

$4.16

stock screener

  Rating & Target

str. sell

-82%

  Value-price divergence*

-4%

Previous close

$22.74

 
Intrinsic value

$4.16

 
Up/down potential

-82%

 
Rating

str. sell

 
Value-price divergence*

-4%

Our model is not good at valuating stocks of financial companies, such as AMH.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AMH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  39.30
  20.00
  18.50
  17.15
  15.94
  14.84
  13.86
  12.97
  12.17
  11.46
  10.81
  10.23
  9.71
  9.24
  8.81
  8.43
  8.09
  7.78
  7.50
  7.25
  7.03
  6.82
  6.64
  6.48
  6.33
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
Revenue, $m
  879
  1,055
  1,250
  1,464
  1,698
  1,950
  2,220
  2,508
  2,813
  3,135
  3,474
  3,830
  4,201
  4,589
  4,994
  5,415
  5,853
  6,308
  6,782
  7,273
  7,784
  8,316
  8,868
  9,442
  10,040
  10,662
  11,310
  11,985
  12,689
  13,423
  14,189
Variable operating expenses, $m
 
  895
  1,059
  1,238
  1,434
  1,644
  1,871
  2,112
  2,367
  2,637
  2,921
  3,207
  3,518
  3,843
  4,182
  4,534
  4,901
  5,282
  5,679
  6,090
  6,518
  6,963
  7,425
  7,906
  8,407
  8,928
  9,470
  10,036
  10,625
  11,240
  11,881
Fixed operating expenses, $m
 
  146
  149
  153
  157
  161
  165
  169
  173
  177
  182
  186
  191
  196
  201
  206
  211
  216
  221
  227
  233
  239
  244
  251
  257
  263
  270
  277
  284
  291
  298
Total operating expenses, $m
  887
  1,041
  1,208
  1,391
  1,591
  1,805
  2,036
  2,281
  2,540
  2,814
  3,103
  3,393
  3,709
  4,039
  4,383
  4,740
  5,112
  5,498
  5,900
  6,317
  6,751
  7,202
  7,669
  8,157
  8,664
  9,191
  9,740
  10,313
  10,909
  11,531
  12,179
Operating income, $m
  -9
  14
  42
  73
  107
  144
  184
  227
  273
  321
  371
  437
  492
  551
  612
  675
  741
  810
  882
  956
  1,033
  1,114
  1,198
  1,285
  1,376
  1,471
  1,570
  1,673
  1,780
  1,893
  2,010
EBITDA, $m
  290
  378
  471
  574
  686
  807
  938
  1,076
  1,224
  1,379
  1,543
  1,715
  1,895
  2,083
  2,279
  2,483
  2,696
  2,916
  3,146
  3,385
  3,633
  3,891
  4,159
  4,438
  4,728
  5,031
  5,346
  5,675
  6,017
  6,374
  6,748
Interest expense (income), $m
  116
  126
  159
  197
  238
  283
  331
  383
  438
  496
  558
  623
  691
  762
  836
  914
  995
  1,078
  1,166
  1,256
  1,351
  1,448
  1,550
  1,656
  1,766
  1,880
  2,000
  2,124
  2,253
  2,388
  2,528
Earnings before tax, $m
  10
  -112
  -117
  -124
  -130
  -138
  -146
  -155
  -165
  -176
  -187
  -186
  -199
  -211
  -225
  -239
  -253
  -269
  -284
  -300
  -317
  -334
  -352
  -371
  -390
  -410
  -430
  -451
  -473
  -495
  -518
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  7
  -112
  -117
  -124
  -130
  -138
  -146
  -155
  -165
  -176
  -187
  -186
  -199
  -211
  -225
  -239
  -253
  -269
  -284
  -300
  -317
  -334
  -352
  -371
  -390
  -410
  -430
  -451
  -473
  -495
  -518

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  119
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,107
  9,589
  11,363
  13,312
  15,433
  17,724
  20,180
  22,797
  25,573
  28,503
  31,584
  34,815
  38,195
  41,723
  45,399
  49,227
  53,209
  57,348
  61,650
  66,121
  70,767
  75,596
  80,616
  85,838
  91,271
  96,926
  102,817
  108,954
  115,352
  122,025
  128,988
Adjusted assets (=assets-cash), $m
  7,988
  9,589
  11,363
  13,312
  15,433
  17,724
  20,180
  22,797
  25,573
  28,503
  31,584
  34,815
  38,195
  41,723
  45,399
  49,227
  53,209
  57,348
  61,650
  66,121
  70,767
  75,596
  80,616
  85,838
  91,271
  96,926
  102,817
  108,954
  115,352
  122,025
  128,988
Revenue / Adjusted assets
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
  0.110
Average production assets, $m
  6,927
  8,312
  9,850
  11,539
  13,377
  15,363
  17,492
  19,761
  22,166
  24,706
  27,377
  30,178
  33,107
  36,165
  39,352
  42,670
  46,122
  49,710
  53,439
  57,314
  61,341
  65,526
  69,878
  74,404
  79,114
  84,016
  89,121
  94,441
  99,987
  105,771
  111,807
Working capital, $m
  0
  -105
  -125
  -146
  -170
  -195
  -222
  -251
  -281
  -314
  -347
  -383
  -420
  -459
  -499
  -542
  -585
  -631
  -678
  -727
  -778
  -832
  -887
  -944
  -1,004
  -1,066
  -1,131
  -1,198
  -1,269
  -1,342
  -1,419
Total debt, $m
  2,923
  3,708
  4,577
  5,532
  6,571
  7,694
  8,897
  10,180
  11,540
  12,975
  14,485
  16,068
  17,724
  19,453
  21,255
  23,130
  25,081
  27,110
  29,218
  31,408
  33,685
  36,051
  38,511
  41,070
  43,732
  46,503
  49,389
  52,396
  55,531
  58,801
  62,213
Total liabilities, $m
  3,914
  4,699
  5,568
  6,523
  7,562
  8,685
  9,888
  11,171
  12,531
  13,966
  15,476
  17,059
  18,715
  20,444
  22,246
  24,121
  26,072
  28,101
  30,209
  32,399
  34,676
  37,042
  39,502
  42,061
  44,723
  47,494
  50,380
  53,387
  56,522
  59,792
  63,204
Total equity, $m
  4,193
  4,890
  5,795
  6,789
  7,871
  9,039
  10,292
  11,627
  13,042
  14,536
  16,108
  17,756
  19,479
  21,278
  23,154
  25,106
  27,137
  29,248
  31,442
  33,722
  36,091
  38,554
  41,114
  43,777
  46,548
  49,432
  52,436
  55,566
  58,829
  62,233
  65,784
Total liabilities and equity, $m
  8,107
  9,589
  11,363
  13,312
  15,433
  17,724
  20,180
  22,798
  25,573
  28,502
  31,584
  34,815
  38,194
  41,722
  45,400
  49,227
  53,209
  57,349
  61,651
  66,121
  70,767
  75,596
  80,616
  85,838
  91,271
  96,926
  102,816
  108,953
  115,351
  122,025
  128,988
Debt-to-equity ratio
  0.697
  0.760
  0.790
  0.810
  0.830
  0.850
  0.860
  0.880
  0.880
  0.890
  0.900
  0.900
  0.910
  0.910
  0.920
  0.920
  0.920
  0.930
  0.930
  0.930
  0.930
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.950
Adjusted equity ratio
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  7
  -112
  -117
  -124
  -130
  -138
  -146
  -155
  -165
  -176
  -187
  -186
  -199
  -211
  -225
  -239
  -253
  -269
  -284
  -300
  -317
  -334
  -352
  -371
  -390
  -410
  -430
  -451
  -473
  -495
  -518
Depreciation, amort., depletion, $m
  299
  364
  429
  501
  579
  663
  753
  849
  951
  1,059
  1,172
  1,279
  1,403
  1,532
  1,667
  1,808
  1,954
  2,106
  2,264
  2,429
  2,599
  2,777
  2,961
  3,153
  3,352
  3,560
  3,776
  4,002
  4,237
  4,482
  4,738
Funds from operations, $m
  233
  253
  312
  377
  448
  525
  607
  694
  786
  883
  985
  1,092
  1,204
  1,321
  1,443
  1,569
  1,701
  1,838
  1,980
  2,128
  2,282
  2,442
  2,609
  2,782
  2,962
  3,150
  3,346
  3,551
  3,764
  3,987
  4,219
Change in working capital, $m
  -46
  -18
  -20
  -21
  -23
  -25
  -27
  -29
  -31
  -32
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -46
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -65
  -68
  -70
  -73
  -77
Cash from operations, $m
  279
  270
  332
  399
  472
  550
  634
  723
  817
  916
  1,019
  1,128
  1,241
  1,360
  1,483
  1,611
  1,745
  1,883
  2,028
  2,177
  2,333
  2,495
  2,664
  2,839
  3,022
  3,213
  3,411
  3,618
  3,834
  4,060
  4,296
Maintenance CAPEX, $m
  0
  -293
  -352
  -417
  -489
  -567
  -651
  -741
  -837
  -939
  -1,047
  -1,160
  -1,279
  -1,403
  -1,532
  -1,667
  -1,808
  -1,954
  -2,106
  -2,264
  -2,429
  -2,599
  -2,777
  -2,961
  -3,153
  -3,352
  -3,560
  -3,776
  -4,002
  -4,237
  -4,482
New CAPEX, $m
  -68
  -1,385
  -1,538
  -1,689
  -1,839
  -1,985
  -2,129
  -2,269
  -2,406
  -2,540
  -2,671
  -2,801
  -2,929
  -3,058
  -3,187
  -3,318
  -3,451
  -3,588
  -3,729
  -3,875
  -4,027
  -4,186
  -4,352
  -4,526
  -4,709
  -4,902
  -5,106
  -5,320
  -5,546
  -5,784
  -6,036
Cash from investing activities, $m
  -522
  -1,678
  -1,890
  -2,106
  -2,328
  -2,552
  -2,780
  -3,010
  -3,243
  -3,479
  -3,718
  -3,961
  -4,208
  -4,461
  -4,719
  -4,985
  -5,259
  -5,542
  -5,835
  -6,139
  -6,456
  -6,785
  -7,129
  -7,487
  -7,862
  -8,254
  -8,666
  -9,096
  -9,548
  -10,021
  -10,518
Free cash flow, $m
  -243
  -1,409
  -1,558
  -1,708
  -1,856
  -2,002
  -2,146
  -2,288
  -2,426
  -2,563
  -2,699
  -2,833
  -2,967
  -3,101
  -3,237
  -3,374
  -3,515
  -3,659
  -3,808
  -3,962
  -4,122
  -4,290
  -4,464
  -4,648
  -4,840
  -5,042
  -5,254
  -5,478
  -5,713
  -5,961
  -6,222
Issuance/(repayment) of debt, $m
  -57
  785
  869
  955
  1,039
  1,122
  1,203
  1,283
  1,360
  1,436
  1,510
  1,583
  1,656
  1,729
  1,802
  1,876
  1,951
  2,028
  2,108
  2,191
  2,276
  2,366
  2,460
  2,559
  2,662
  2,771
  2,886
  3,007
  3,135
  3,270
  3,412
Issuance/(repurchase) of shares, $m
  509
  928
  1,022
  1,117
  1,212
  1,306
  1,399
  1,490
  1,581
  1,670
  1,758
  1,834
  1,922
  2,011
  2,100
  2,191
  2,284
  2,380
  2,478
  2,580
  2,686
  2,797
  2,913
  3,034
  3,161
  3,294
  3,434
  3,581
  3,736
  3,899
  4,070
Cash from financing (excl. dividends), $m  
  413
  1,713
  1,891
  2,072
  2,251
  2,428
  2,602
  2,773
  2,941
  3,106
  3,268
  3,417
  3,578
  3,740
  3,902
  4,067
  4,235
  4,408
  4,586
  4,771
  4,962
  5,163
  5,373
  5,593
  5,823
  6,065
  6,320
  6,588
  6,871
  7,169
  7,482
Total cash flow (excl. dividends), $m
  169
  304
  333
  365
  396
  426
  456
  486
  514
  542
  570
  585
  611
  638
  665
  693
  720
  749
  778
  809
  841
  874
  908
  945
  983
  1,023
  1,066
  1,110
  1,158
  1,207
  1,260
Retained Cash Flow (-), $m
  -934
  -928
  -1,022
  -1,117
  -1,212
  -1,306
  -1,399
  -1,490
  -1,581
  -1,670
  -1,758
  -1,834
  -1,922
  -2,011
  -2,100
  -2,191
  -2,284
  -2,380
  -2,478
  -2,580
  -2,686
  -2,797
  -2,913
  -3,034
  -3,161
  -3,294
  -3,434
  -3,581
  -3,736
  -3,899
  -4,070
Prev. year cash balance distribution, $m
 
  119
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -505
  -689
  -753
  -817
  -880
  -943
  -1,005
  -1,067
  -1,128
  -1,189
  -1,250
  -1,311
  -1,372
  -1,435
  -1,498
  -1,564
  -1,631
  -1,700
  -1,771
  -1,846
  -1,923
  -2,004
  -2,089
  -2,178
  -2,271
  -2,368
  -2,471
  -2,578
  -2,691
  -2,810
Discount rate, %
 
  7.80
  8.19
  8.60
  9.03
  9.48
  9.95
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.41
  27.73
  29.12
  30.58
  32.11
PV of cash for distribution, $m
 
  -469
  -589
  -588
  -578
  -559
  -533
  -501
  -464
  -423
  -379
  -335
  -292
  -250
  -210
  -174
  -141
  -113
  -88
  -67
  -51
  -37
  -26
  -18
  -13
  -8
  -5
  -3
  -2
  -1
  -1
Current shareholders' claim on cash, %
  100
  85.4
  73.7
  64.4
  56.8
  50.4
  45.2
  40.7
  37.0
  33.7
  30.9
  28.4
  26.3
  24.4
  22.7
  21.2
  19.8
  18.6
  17.5
  16.5
  15.5
  14.7
  13.9
  13.2
  12.5
  11.9
  11.3
  10.7
  10.2
  9.7
  9.3

American Homes 4 Rent is a real estate investment trust. The firm engages in the acquisition, renovation, leasing, and operating single-family home rental properties in the United States. American Homes 4 Rent was founded in 2012 and is based in Malibu, California.

FINANCIAL RATIOS  of  American Homes 4 Rent Cl A (AMH)

Valuation Ratios
P/E Ratio 790.6
Price to Sales 6.3
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 19.8
Price to Free Cash Flow 26.2
Growth Rates
Sales Growth Rate 39.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 151.9%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 69.7%
Total Debt to Equity 69.7%
Interest Coverage 1
Management Effectiveness
Return On Assets 1.7%
Ret/ On Assets - 3 Yr. Avg. 0.5%
Return On Total Capital 0.1%
Ret/ On T. Cap. - 3 Yr. Avg. -0.7%
Return On Equity 0.2%
Return On Equity - 3 Yr. Avg. -1.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 56%
Gross Margin - 3 Yr. Avg. 54%
EBITDA Margin 48.4%
EBITDA Margin - 3 Yr. Avg. 43.7%
Operating Margin -0.9%
Oper. Margin - 3 Yr. Avg. -4.5%
Pre-Tax Margin 1.1%
Pre-Tax Margin - 3 Yr. Avg. -4.9%
Net Profit Margin 0.8%
Net Profit Margin - 3 Yr. Avg. -7%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 1257.1%

AMH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AMH stock intrinsic value calculation we used $879 million for the last fiscal year's total revenue generated by American Homes 4 Rent Cl A. The default revenue input number comes from 2016 income statement of American Homes 4 Rent Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AMH stock valuation model: a) initial revenue growth rate of 20% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.8%, whose default value for AMH is calculated based on our internal credit rating of American Homes 4 Rent Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of American Homes 4 Rent Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AMH stock the variable cost ratio is equal to 85.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $142 million in the base year in the intrinsic value calculation for AMH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.3% for American Homes 4 Rent Cl A.

Corporate tax rate of 27% is the nominal tax rate for American Homes 4 Rent Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AMH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AMH are equal to 788%.

Life of production assets of 23.6 years is the average useful life of capital assets used in American Homes 4 Rent Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AMH is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4193 million for American Homes 4 Rent Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 244.767 million for American Homes 4 Rent Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of American Homes 4 Rent Cl A at the current share price and the inputted number of shares is $5.6 billion.

RELATED COMPANIES Price Int.Val. Rating
SFR Colony Starwoo 37.60 5.32  str.sell
BX Blackstone Gro 31.52 501.61  str.buy
CNS Cohen&Steers 39.09 58.57  buy

COMPANY NEWS

▶ American Homes 4 Rent reports 2Q results   [Aug-04-17 01:09AM  Associated Press]
▶ American Homes 4 Rent Announces Distributions   [Aug-03-17 05:10PM  PR Newswire]
▶ [$$] Meet Your New Landlord: Wall Street   [Jul-21-17 10:46AM  The Wall Street Journal]
▶ American Homes 4 Rent to Present at NAREIT REITWeek 2017   [May-30-17 04:16PM  PR Newswire]
▶ 3 Top Residential REIT Stocks to Buy in 2017   [May-19-17 10:03AM  Motley Fool]
▶ American Homes 4 Rent reports 1Q results   [May-05-17 05:02AM  Associated Press]
▶ American Homes 4 Rent Announces Distributions   [May-04-17 05:10PM  PR Newswire]
▶ 5 Top Dividend Stocks in Residential REITs   [Mar-14-17 08:27AM  Motley Fool]
▶ 2 Little-Known Dividend Stocks That Could Make You Rich   [Mar-11-17 08:37AM  Motley Fool]
▶ Smart Money Is Gaining Confidence in American Homes 4 Rent (AMH)   [Dec-01-16 02:02PM  at Insider Monkey]
▶ [$$] As Crude Collapsed, Alaska Capitalized on the U.S. Housing Bust   [Nov-13-16 07:00AM  at The Wall Street Journal]
▶ American Homes 4 Rent Announces Distributions   [Nov-01-16 06:25PM  PR Newswire]
▶ Thousands of REIT Properties in Hurricane Matthew's Path   [Oct-07-16 04:40PM  at Barrons.com]
▶ Billionaire Michael Platts BlueCrest Grows More Bullish on Energy   [Sep-16-16 08:54AM  at Insider Monkey]
Stock chart of AMH Financial statements of AMH
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.