/
DCF Valuation
Base-case fair value
$63.68
Intrinsic $84.91 · 25% MOS
Base-case summary
Our base-case DCF for HA Sustainable Infrastructure Capital, Inc. (HASI) projects 10 years of free cash flow growth at 20.0% for years 1–5 and 10.0% for years 6–10, anchored to 75.3% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $220M in trailing free cash flow, this produces an intrinsic value of $84.91 per share. A 25% safety margin gives a fair value of $63.68.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$220M
Cash & equivalents
$124M
Total debt
$400M
Shares outstanding
128M