REG Regency Centers
too hard · 51
Owner-earnings value$95.39
Price$74.28
Margin of safety
+28.4%
Quality gate · 51/100
⚠ sub-hurdle returns (median roic 5% < 9%) · over-levered (net debt/EBITDA 4.5x > 4x)
Median ROIC4.7%
Gross margin70.5%
Net debt / EBITDA4.5x
FCF conversion169%
Share count / yr+2.3%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 819.39M |
| Owner-earnings yield | 5.9% |
| Free-cash-flow yield | 5.9% |
| Growth used (normalized) | 8.2% |
| Market-implied growth (reverse DCF) | 2.2% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.0% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 886.61M | 8.2% | 813.40M |
| 2 | 954.22M | 7.6% | 803.15M |
| 3 | 1.02B | 7.0% | 788.76M |
| 4 | 1.09B | 6.5% | 770.45M |
| 5 | 1.15B | 5.9% | 748.47M |
| 6 | 1.21B | 5.3% | 723.15M |
| 7 | 1.27B | 4.7% | 694.85M |
| 8 | 1.32B | 4.2% | 663.98M |
| 9 | 1.37B | 3.6% | 630.95M |
| 10 | 1.41B | 3.0% | 596.22M |
⚠ owner earnings approximated by free cash flow · Price pays for ~2%/yr owner-earnings growth over 10y (reverse DCF); model credits 8%. Capped at market + 6pts.