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Intrinsic value of First Republic Bank (FRC)

Previous Close$163.96
Intrinsic Value
Upside potential
Previous Close
$163.96
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh279.6 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit. It also offers a range of lending products that comprise residential mortgage loans, home equity lines of credit, multifamily loans, commercial real estate loans, personal loans, business loans, construction loans, and smaller loans and lines of credit to businesses and individuals. The company's loans are secured by single family residences, multifamily buildings, and commercial real estate properties. In addition, it provides wealth management services, which include various investment strategies and products, online investment management services, trust and custody services, online brokerage, financial and estate planning, and access to alternative investments, as well as investing, insurance, and foreign exchange services; and treasury services. Additionally, the company offers online and mobile banking services; student loan refinancing services; and ATM and debit cards. As of December 31, 2019, the company offered its services through 89 offices, including 78 licensed deposit-taking offices in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; Jackson; and Wyoming, as well as 11 offices that provided lending, wealth management, and trust services. First Republic Bank was founded in 1985 and is headquartered in San Francisco, California.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %28.6NaN
Revenue, $5034NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m3206NaN
Operating income, $m1828NaN
EBITDA, $m2012NaN
Interest expense (income), $mNaN
Earnings before tax, $m1729NaN
Tax expense, $m350NaN
Net income, $m1379NaN

BALANCE SHEET

Cash and short-term investments, $m12947NaN
Total assets, $m181714NaN
Adjusted assets (=assets-cash), $m168767NaN
Average production assets, $m1796NaN
Working capital, $m-9111NaN
Total debt, $m6882NaN
Total liabilities, $m165816NaN
Total equity, $m15898NaN
Debt-to-equity ratio0.433NaN
Adjusted equity ratio0.021NaN

CASH FLOW

Net income, $m1379NaN
Depreciation, amort., depletion, $m184NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m2303NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-198NaN
Free cash flow, $m2501NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-9111
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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