MeritValue

AMERICAN COASTAL INSURANCE Corp

ACICdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$228.7M1$221.7M2$264.4M3$296.7M3$335.4M3
Net income−$57.9M4−$469.9M5$309.9M6$75.7M6$106.8M6
Operating cash flow−$295.4M7−$173.1M8−$136M9$243.5M9$71M9
Capital expenditure$5.27M10$3.05M11$196,00012$22,00012$155,00012
Free cash flow (derived)−$300.7M7−$176.2M8−$136.2M9$243.5M9$70.9M9
Total debt$158.6M13$150M14$150M14$150M15$150M16
Cash & equivalents$212M17$229.9M17$171.8M18$137M19$198.8M19
Diluted shares42.9M43.1M44.4M49.4M49.8M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000020%
of the whole company
Your share of last year’s profit
$21.46
Your share of its debt
$30.13
Your share of free cash flow
$14.24
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$29.09
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$70.9M
DCF · Growth Exit 5Y
$26.87
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$70.9M
Earnings Power Value
$16.03
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$75.7M
  • growthAssumed0.0%
Graham Number
$17.57
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years5.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $26.87

Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001401521-24-000024 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001401521-25-000032 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001401521-26-000015 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001401521-24-000024 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001401521-25-000032 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001401521-26-000015 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001401521-24-000024 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001401521-25-000032 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001401521-26-000015 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001401521-24-000024 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001401521-25-000032 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001401521-26-000015 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001401521-23-000023 (LongTermDebt)
  14. 10-K · period ending 2022-12-31 · accession 0001401521-24-000024 (LongTermDebt)
  15. 10-K · period ending 2024-12-31 · accession 0001401521-25-000032 (LongTermDebt)
  16. 10-K · period ending 2025-12-31 · accession 0001401521-26-000015 (LongTermDebt)
  17. 10-K · period ending 2021-12-31 · accession 0001401521-23-000023 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0001401521-25-000032 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  19. 10-K · period ending 2024-12-31 · accession 0001401521-26-000015 (CashAndCashEquivalentsAtCarryingValue)