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Stocks CUZ DCF valuation

DCF valuation

What is Cousins Properties Inc worth?

With the base-case assumptions below, a discounted cash flow model on Cousins Properties Inc's reported free cash flow gives -$6.43 per share. The share price was $28.65 on September 25, 2026, 545% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$135M
Cash
$6.7M
balance sheet of June 30, 2026
Debt
$3.73B
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
168,716,000
Revenue growth per year, last 5 years
6.1%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear1.0%1.5%2.0%10.0%-$12.44-143%
Base6.0%4.5%2.5%9.0%-$6.43-122%
Bull11.0%7.0%3.0%8.0%$4.78-83%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%-$2.11-$0.79$0.83$2.84$5.44
8.0%-$5.34-$4.48-$3.47-$2.25-$0.77
9.0%-$7.69-$7.11-$6.43-$5.64-$4.71
10.0%-$9.49-$9.07-$8.60-$8.06-$7.44
11.0%-$10.90-$10.60-$10.26-$9.87-$9.44

Where the presets come from

Base: years 1 to 5 grow at Cousins Properties Inc's revenue growth rate over the last 5 fiscal years (6.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Cousins Properties Inc company page