The Toronto-Dominion Bank (TD:TSE) Fundamental Valuation Report

Fundamental Valuation Report

The Toronto-Dominion Bank(TD:TSE)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$73.48 (CAD) 29/11/2018

Weighted Valuation
$81.87 (CAD)

Overall Rating
Undervalued by 11.4%

Valuation Models Analyst Consensus: $85.13 (CAD)
(in order of importance) Adjusted Book Value: $77.28 (CAD)
Discounted Cash Flow: $81.30 (CAD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (TD:TSE CAD)

Price 73.48
Range 72.97 – 74.26
52 week 69.50 – 79.73
Open 74.26
Vol / Avg. 3.43M/2.84M
Mkt cap 134.4B
P/E 12.56
Div/yield 2.61/0.04
EPS 6.01
Shares 1.83B
Beta 0.84

Company Description

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 42% ownership stake in TD Ameritrade, a discount brokerage.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for TD:TSE

Using a discounted cash flow model we generated an intrinsic value of $81.30 (CAD) for TD:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

TD:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $81.30 1% 5% 1% 5%
WACC (or Ke) 9.53 $96.43 $70.20
Terminal Growth Rate 3.00 $71.47 $94.70
Tax Rate 0.23 $86.83 $75.78
Cash Flow 14,935,290,939 $76.91 $85.70
Capital Expenditures -725,400,000 $81.11 $81.50
Long Term Debt 0 $81.30 $81.30

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $55.28 (CAD) for TD:TSE. We also generated a valuation of $82.64 (CAD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:TSE), Bank of Nova Scotia (BNS:TSE) and Royal Bank of Canada (RY:TSE).

Company TD:TSE End Date Value
Earnings/Share $6.01 (CAD)
Book Value/Share $39.34 (CAD)
Sales/Share $20.43 (CAD)
Cash Flow/Share $14.51 (CAD)
EBITDA/Share $15.64 (CAD)
Price Based on Comps Adjustment Factor (%)
$71.52 (CAD) -55.4
$64.42 (CAD) 21.8
$62.86 (CAD) 36.1
$14.61 (CAD) -69.1
$0.00 (CAD) -77.4
TD:TSE Ratios Used Average Values BMO:TSE BNS:TSE RY:TSE
12.48 PE Ratio 11.90 13.30 10.48 11.92
1.86 PB Ratio 1.64 1.55 1.43 1.93
3.57 PS Ratio 3.08 2.82 3.12 3.29
5.03 PCF Ratio 5.63 6.59 0.00 4.67
0.00 EV to EBITDA 0.00 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $57.12 (CAD) for TD:TSE

Company TD:TSE End Date Value
Earnings/Share $6.01 (CAD)
Book Value/Share $39.34 (CAD)
Sales/Share $20.43 (CAD)
Cash Flow/Share $14.51 (CAD)
EBITDA/Share $15.64 (CAD)
Price Based on Comps Adjustment Factor
$79.20 (CAD) 0
$70.65 (CAD) 0
$69.49 (CAD) 0
$48.10 (CAD) 0
$18.14 (CAD) 0
Ratios Ratio Average
PE Ratio 13.18
PB Ratio 1.80
PS Ratio 3.40
PCF Ratio 3.31
EV to EBITDA 1.16

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  TD:TSE for the last 10 years was  1.79

We ran the Adjusted Book Value for  TD:TSE and generated a book value of  $43.19 (CAD)
By multiplying these we get an adjusted valuation of  $77.28 (CAD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for TD:TSE. The 8 analysts have a concensus valuation for TD:TSE for 2019 of $85.13 (CAD).

TD:TSE The Toronto-Dominion Bank

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
4 2 0 4.2222 Outperform 2018-11-28

Current Price: 73.48 CAD

Analyst Consensus
CAD Millions 2019 2020
Mean EPS 6.92 7.35
# EPS Analysts 8 7
Mean Revenue 39,220.50 41,668.80
# Revenue Analysts 6 4
Mean Target Price 85.13
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Monmouth Real Estate Inv (MNR:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Monmouth Real Estate Inv(MNR:NYS)

Real Estate:REIT-Industrial

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$13.88 (USD) 29/11/2018

Weighted Valuation
$19.01 (USD)

Overall Rating
Undervalued by 36.9%

Valuation Models Analyst Consensus: $19.50 (USD)
(in order of importance) Comparables: $18.27 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (MNR:NYS USD)

Price 13.88
Range 13.83 – 14.68
52 week 13.88 – 18.19
Open 14.68
Vol / Avg. 740090/458796
Mkt cap 1.27B
P/E 28.33
Div/yield 0.68/0.05
EPS 0.49
Shares 91.59M
Beta 0.67

Company Description

Monmouth Real Estate Investment Corp is engaged in the ownership and management of industrial buildings subject to long-term net leases, mainly to investment grade tenants. The company’s primary business is the ownership of real estate. Its investment focus is to own well-located, modern, single tenant, industrial buildings, leased primarily to investment-grade tenants.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for MNR:NYS

Using a discounted cash flow model we generated an intrinsic value of $7.42 (USD) for MNR:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

MNR:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $7.42 1% 5% 1% 5%
WACC (or Ke) 9.28 $9.04 $6.25
Terminal Growth Rate 3.00 $6.38 $8.86
Tax Rate 0.26 $8.00 $6.85
Cash Flow 69,954,644 $7.01 $7.84
Capital Expenditures 2,594,501 $7.44 $7.41
Long Term Debt 0 $7.42 $7.42

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $18.27 (USD) for MNR:NYS. We also generated a valuation of $26.78 (USD) using other metrics and comparables.
The comparable companies were EastGroup Properties (EGP:NYS), Life Storage (LSI:NYS), National Storage (NSA:NYS), Stag Industrial (STAG:NYS) and Terreno Realty (TRNO:NYS).

Company MNR:NYS End Date Value
Earnings/Share $0.49 (USD)
Book Value/Share $5.71 (USD)
Sales/Share $1.58 (USD)
Cash Flow/Share $1.12 (USD)
EBITDA/Share $1.61 (USD)
Price Based on Comps Adjustment Factor (%)
$35.00 (USD) -36.7
$14.32 (USD) -0.3
$15.21 (USD) 19.6
$9.49 (USD) -11.8
$0.00 (USD) 37.0
MNR:NYS Ratios Used Average Values EGP:NYS LSI:NYS NSA:NYS STAG:NYS TRNO:NYS
30.53 PE Ratio 71.43 38.47 33.87 204.85 45.62 34.34
2.62 PB Ratio 2.51 3.98 2.18 2.32 2.12 1.94
9.49 PS Ratio 9.65 11.43 8.12 6.49 7.82 14.39
13.32 PCF Ratio 18.60 19.27 17.50 13.55 13.99 28.69
0.00 EV to EBITDA 18.95 21.71 19.74 16.55 14.75 21.99

Multiples

Using a multiples approach we generated a valuation of  $22.51 (USD) for MNR:NYS

Company MNR:NYS End Date Value
Earnings/Share $0.49 (USD)
Book Value/Share $5.71 (USD)
Sales/Share $1.58 (USD)
Cash Flow/Share $1.12 (USD)
EBITDA/Share $1.61 (USD)
Price Based on Comps Adjustment Factor
$21.32 (USD) 0
$13.44 (USD) 0
$16.59 (USD) 0
$18.48 (USD) 0
$42.69 (USD) 0
Ratios Ratio Average
PE Ratio 43.51
PB Ratio 2.35
PS Ratio 10.53
PCF Ratio 16.46
EV to EBITDA 26.51

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  MNR:NYS for the last 10 years was  2.31

We ran the Adjusted Book Value for  MNR:NYS and generated a book value of  $9.79 (USD)
By multiplying these we get an adjusted valuation of  $22.62 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for MNR:NYS. The 2 analysts have a concensus valuation for MNR:NYS for 2019 of $19.50 (USD).

MNR:NYS Monmouth Real Estate Inv

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 0 0 5.0000 Buy 2018-11-28

Current Price: 13.88 USD

Analyst Consensus
USD Millions 2019
Mean EPS 0.49
# EPS Analysts 1
Mean Revenue 172.40
# Revenue Analysts 1
Mean Target Price 19.50
Mean Cash Flow 1.00
Mean EBITDA 138.80
Mean Net Income 40.10
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate 6.00
Mean Capital Expenditure 1,110.00

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Canadian Imperial Bank (CM:TSE) Fundamental Valuation Report

Fundamental Valuation Report

Canadian Imperial Bank(CM:TSE)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$112.46 (CAD) 29/11/2018

Weighted Valuation
$129.72 (CAD)

Overall Rating
Undervalued by 15.3%

Valuation Models Analyst Consensus: $133.50 (CAD)
(in order of importance) Comparables: $134.56 (CAD)
Multiples: $108.70 (CAD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (CM:TSE CAD)

Price 112.46
Range 111.41 – 115.17
52 week 110.11 – 124.59
Open 114.38
Vol / Avg. 3.23M/1.2M
Mkt cap 49.9B
P/E 9.85
Div/yield 5.32/0.05
EPS 11.65
Shares 443.7M
Beta 1.00

Company Description

Canadian Imperial Bank of Commerce is Canada’s fifth-largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for CM:TSE

Using a discounted cash flow model we generated an intrinsic value of $152.86 (CAD) for CM:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

CM:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $152.86 1% 5% 1% 5%
WACC (or Ke) 10.66 $176.23 $134.90
Terminal Growth Rate 3.00 $137.29 $173.12
Tax Rate 0.21 $162.80 $142.93
Cash Flow 7,496,377,181 $144.94 $160.79
Capital Expenditures -146,200,000 $152.73 $153.00
Long Term Debt 0 $152.86 $152.86

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $134.56 (CAD) for CM:TSE. We also generated a valuation of $103.46 (CAD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:NYS) and Royal Bank of Canada (RY:NYS).

Company CM:TSE End Date Value
Earnings/Share $11.65 (CAD)
Book Value/Share $72.42 (CAD)
Sales/Share $39.56 (CAD)
Cash Flow/Share $29.51 (CAD)
EBITDA/Share $31.82 (CAD)
Price Based on Comps Adjustment Factor (%)
$146.34 (CAD) -58.3
$125.73 (CAD) 47.1
$120.39 (CAD) 23.8
$156.35 (CAD) -13.5
$0.00 (CAD) -81.2
CM:TSE Ratios Used Average Values BMO:NYS RY:NYS
9.95 PE Ratio 12.56 13.25 11.87
1.57 PB Ratio 1.74 1.55 1.92
2.87 PS Ratio 3.04 2.81 3.28
3.85 PCF Ratio 5.61 6.56 4.66
0.00 EV to EBITDA 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $108.70 (CAD) for CM:TSE

Company CM:TSE End Date Value
Earnings/Share $11.65 (CAD)
Book Value/Share $72.42 (CAD)
Sales/Share $39.56 (CAD)
Cash Flow/Share $29.51 (CAD)
EBITDA/Share $31.82 (CAD)
Price Based on Comps Adjustment Factor
$123.16 (CAD) 0
$136.53 (CAD) 0
$112.84 (CAD) 0
$107.00 (CAD) 0
$63.98 (CAD) 0
Ratios Ratio Average
PE Ratio 10.57
PB Ratio 1.89
PS Ratio 2.85
PCF Ratio 3.63
EV to EBITDA 2.01

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  CM:TSE for the last 10 years was  1.89

We ran the Adjusted Book Value for  CM:TSE and generated a book value of  $78.91 (CAD)
By multiplying these we get an adjusted valuation of  $149.05 (CAD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for CM:TSE. The 8 analysts have a concensus valuation for CM:TSE for 2019 of $133.50 (CAD).

CM:TSE Canadian Imperial Bank

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 5 0 3.6667 Outperform 2018-11-28

Current Price: 112.46 CAD

Analyst Consensus
CAD Millions 2019 2020
Mean EPS 12.70 13.32
# EPS Analysts 8 7
Mean Revenue 18,799.00 19,797.00
# Revenue Analysts 6 4
Mean Target Price 133.50
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Royal Bank of Canada (RY:TSE) Fundamental Valuation Report

Fundamental Valuation Report

Royal Bank of Canada(RY:TSE)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$97.82 (CAD) 29/11/2018

Weighted Valuation
$112.89 (CAD)

Overall Rating
Undervalued by 15.4%

Valuation Models Analyst Consensus: $110.88 (CAD)
(in order of importance) Adjusted Book Value: $116.80 (CAD)
Discounted Cash Flow: $111.12 (CAD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (RY:TSE CAD)

Price 97.82
Range 97.41 – 98.74
52 week 93.62 – 108.05
Open 98.00
Vol / Avg. 2.66M/2.33M
Mkt cap 141.15B
P/E 11.70
Div/yield 3.77/0.04
EPS 8.36
Shares 1.44B
Beta 0.98

Company Description

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for RY:TSE

Using a discounted cash flow model we generated an intrinsic value of $111.12 (CAD) for RY:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

RY:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $111.12 1% 5% 1% 5%
WACC (or Ke) 10.33 $129.52 $97.13
Terminal Growth Rate 3.00 $98.90 $127.19
Tax Rate 0.21 $118.65 $103.58
Cash Flow 18,104,671,839 $104.94 $117.30
Capital Expenditures -1,037,000,000 $110.80 $111.43
Long Term Debt 0 $111.12 $111.12

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $87.03 (CAD) for RY:TSE. We also generated a valuation of $83.02 (CAD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:TSE) and The Toronto-Dominion Bank (TD:TSE).

Company RY:TSE End Date Value
Earnings/Share $8.36 (CAD)
Book Value/Share $49.68 (CAD)
Sales/Share $29.14 (CAD)
Cash Flow/Share $20.52 (CAD)
EBITDA/Share $21.83 (CAD)
Price Based on Comps Adjustment Factor (%)
$107.78 (CAD) -55.5
$84.72 (CAD) 53.1
$93.17 (CAD) 26.6
$112.92 (CAD) -56.0
$0.00 (CAD) -60.2
RY:TSE Ratios Used Average Values BMO:TSE TD:TSE
11.92 PE Ratio 12.89 13.30 12.48
1.93 PB Ratio 1.71 1.55 1.86
3.29 PS Ratio 3.20 2.82 3.57
4.67 PCF Ratio 5.81 6.59 5.03
0.00 EV to EBITDA 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $82.09 (CAD) for RY:TSE

Company RY:TSE End Date Value
Earnings/Share $8.36 (CAD)
Book Value/Share $49.68 (CAD)
Sales/Share $29.14 (CAD)
Cash Flow/Share $20.52 (CAD)
EBITDA/Share $21.83 (CAD)
Price Based on Comps Adjustment Factor
$105.29 (CAD) 0
$104.64 (CAD) 0
$99.23 (CAD) 0
$97.38 (CAD) 0
$3.91 (CAD) 0
Ratios Ratio Average
PE Ratio 12.60
PB Ratio 2.11
PS Ratio 3.40
PCF Ratio 4.75
EV to EBITDA 0.18

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  RY:TSE for the last 10 years was  2.10

We ran the Adjusted Book Value for  RY:TSE and generated a book value of  $55.51 (CAD)
By multiplying these we get an adjusted valuation of  $116.80 (CAD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for RY:TSE. The 8 analysts have a concensus valuation for RY:TSE for 2019 of $110.88 (CAD).

RY:TSE Royal Bank of Canada

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 5 0 3.7000 Outperform 2018-11-28

Current Price: 97.82 CAD

Analyst Consensus
CAD Millions 2019 2020
Mean EPS 9.03 9.59
# EPS Analysts 8 7
Mean Revenue 44,294.70 46,824.80
# Revenue Analysts 6 4
Mean Target Price 110.88
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Hennessy Advisors (HNNA:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Hennessy Advisors(HNNA:NAS)

Financial Services:Asset Management

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$11.40 (USD) 29/11/2018

Weighted Valuation
$16.25 (USD)

Overall Rating
Undervalued by 42.6%

Valuation Models Analyst Consensus: $20.25 (USD)
(in order of importance) Comparables: $10.26 (USD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (HNNA:NAS USD)

Price 11.40
Range 10.80 – 11.40
52 week 10.81 – 19.98
Open 10.80
Vol / Avg. 5890/6224
Mkt cap 90.24M
P/E 4.37
Div/yield 0.38/0.04
EPS 2.61
Shares 7.92M
Beta 0.57

Company Description

Hennessy Advisors Inc is an investment management company, engaged in the managing and marketing of open-end mutual funds branded as the Hennessy Funds. It offers domestic equity, sectors, and specialty, balanced and fixed income products. It provides investment advisory services and shareholder services to the Hennessy Funds. Its investment advisory services include managing the composition of each fund’s portfolio, including the purchase, retention, and disposition of portfolio securities in accordance with the Fund’s investment objectives, policies and restrictions; conducting investment research, and monitoring compliance with each fund’s investment restrictions and applicable laws and regulations.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for HNNA:NAS

Using a discounted cash flow model we generated an intrinsic value of $57.67 (USD) for HNNA:NAS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

HNNA:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $57.67 1% 5% 1% 5%
WACC (or Ke) 6.40 $73.15 $47.35
Terminal Growth Rate 1.40 $48.30 $71.72
Tax Rate 0.12 $61.11 $54.23
Cash Flow 28,697,070 $54.62 $60.72
Capital Expenditures -223,600 $57.65 $57.69
Long Term Debt 31,718,000 $57.87 $57.47

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $10.26 (USD) for HNNA:NAS. We also generated a valuation of $9.06 (USD) using other metrics and comparables.
The comparable companies were Blackrock CA Muni 2018 (BJZ:NYS), Calamos Global Total (CGO:NAS), Delaware Investments Div (DDF:NYS), Great Elm Capital Gr (GEC:NAS) and Blackrock Muniyield (MFT:NYS).

Company HNNA:NAS End Date Value
Earnings/Share $2.61 (USD)
Book Value/Share $8.61 (USD)
Sales/Share $6.95 (USD)
Cash Flow/Share $2.50 (USD)
EBITDA/Share $3.15 (USD)
Price Based on Comps Adjustment Factor (%)
$15.79 (USD) 28.4
$8.80 (USD) -28.5
$56.94 (USD) -81.7
$46.34 (USD) -91.7
$0.00 (USD) 87.3
HNNA:NAS Ratios Used Average Values BJZ:NYS CGO:NAS DDF:NYS GEC:NAS MFT:NYS
4.80 PE Ratio 50.67 71.33 4.77 7.33 0.00 119.25
1.44 PB Ratio 1.02 1.00 0.88 1.03 1.34 0.86
1.78 PS Ratio 23.34 65.45 4.24 6.36 13.99 26.66
4.95 PCF Ratio 19.60 0.00 0.00 0.00 0.00 19.60
3.95 EV to EBITDA 0.00 0.00 0.00 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $24.73 (USD) for HNNA:NAS

Company HNNA:NAS End Date Value
Earnings/Share $2.61 (USD)
Book Value/Share $8.61 (USD)
Sales/Share $6.95 (USD)
Cash Flow/Share $2.50 (USD)
EBITDA/Share $3.15 (USD)
Price Based on Comps Adjustment Factor
$29.67 (USD) 0
$26.02 (USD) 0
$20.98 (USD) 0
$23.52 (USD) 0
$23.45 (USD) 0
Ratios Ratio Average
PE Ratio 11.37
PB Ratio 3.02
PS Ratio 3.02
PCF Ratio 9.39
EV to EBITDA 7.45

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  HNNA:NAS for the last 10 years was  2.96

We ran the Adjusted Book Value for  HNNA:NAS and generated a book value of  $8.99 (USD)
By multiplying these we get an adjusted valuation of  $26.64 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for HNNA:NAS. The 1 analysts have a concensus valuation for HNNA:NAS for 2019 of $20.25 (USD).

HNNA:NAS Hennessy Advisors

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 0 0 5.0000 Buy 2018-11-28

Current Price: 11.4 USD

Analyst Consensus
USD Millions 2019
Mean EPS 2.23
# EPS Analysts 1
Mean Revenue 56.60
# Revenue Analysts 1
Mean Target Price 20.25
Mean Cash Flow 1.70
Mean EBITDA
Mean Net Income 17.70
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 0.30

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


BrightView Holdings (BV:NYS) Fundamental Valuation Report

Fundamental Valuation Report

BrightView Holdings(BV:NYS)

Industrials:Business Services

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$13.18 (USD) 29/11/2018

Weighted Valuation
$20.37 (USD)

Overall Rating
Undervalued by 54.5%

Valuation Models Analyst Consensus: $21.00 (USD)
(in order of importance) Comparables: $19.42 (USD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (BV:NYS USD)

Price 13.18
Range 13.11 – 13.94
52 week 11.78 – 22.87
Open 13.36
Vol / Avg. 584532/469644
Mkt cap 1.38B
P/E 0.00
Div/yield 0.00/0.00
EPS -0.18
Shares 104.47M
Beta 0.00

Company Description

BrightView Holdings Inc is a provider of commercial landscaping services in the United States. The company provides commercial landscaping services, landscape maintenance and enhancements to tree care and landscape development. It operates through two segments namely Maintenance Services, and Development Services. The Maintenance Services are self-performed through national branch network and are route-based in nature, and Development Services are comprised of sophisticated design, coordination and installation of landscapes at recognizable corporate, athletic and university complexes. The company generates a majority of its revenue from the Maintenance Services.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for BV:NYS

Using a discounted cash flow model we generated an intrinsic value of $36.56 (USD) for BV:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

BV:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $36.56 1% 5% 1% 5%
WACC (or Ke) 6.50 $45.94 $30.31
Terminal Growth Rate 1.50 $30.87 $45.10
Tax Rate 0.27 $39.41 $33.71
Cash Flow 368,961,930 $34.11 $39.00
Capital Expenditures -72,043,000 $36.10 $37.01
Long Term Debt 0 $36.56 $36.56

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $33.22 (USD) for BV:NYS. We also generated a valuation of $19.42 (USD) using other metrics and comparables.
The comparable companies were CoreLogic (CLGX:NYS), Exponent (EXPO:NAS), FTI Consulting (FCN:NYS), Maximus (MMS:NYS) and Morningstar (MORN:NAS).

Company BV:NYS End Date Value
Earnings/Share ($0.18) (USD)
Book Value/Share $6.91 (USD)
Sales/Share $22.33 (USD)
Cash Flow/Share $1.24 (USD)
EBITDA/Share $2.36 (USD)
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 0.0
$31.89 (USD) 0.0
$57.25 (USD) 0.0
$8.64 (USD) 0.0
$35.12 (USD) 0.0
BV:NYS Ratios Used Average Values CLGX:NYS EXPO:NAS FCN:NYS MMS:NYS MORN:NAS
0.00 PE Ratio 27.29 19.44 54.55 13.71 18.83 29.93
2.13 PB Ratio 4.62 3.18 8.23 1.96 3.98 5.74
0.66 PS Ratio 3.53 1.83 7.41 1.32 1.75 5.36
11.83 PCF Ratio 18.07 9.25 34.71 12.54 15.68 18.17
13.51 EV to EBITDA 14.88 10.92 27.81 9.94 10.38 15.36

Multiples

Using a multiples approach we generated a valuation of  $22.81 (USD) for BV:NYS

Company BV:NYS End Date Value
Earnings/Share ($0.18) (USD)
Book Value/Share $6.91 (USD)
Sales/Share $22.33 (USD)
Cash Flow/Share $1.24 (USD)
EBITDA/Share $2.36 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$17.14 (USD) 0
$17.78 (USD) 0
$19.49 (USD) 0
$36.82 (USD) 0
Ratios Ratio Average
PE Ratio 0.00
PB Ratio 2.48
PS Ratio 0.80
PCF Ratio 15.67
EV to EBITDA 15.60

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  BV:NYS for the last 0 years was  2.31

We ran the Adjusted Book Value for  BV:NYS and generated a book value of  $11.75 (USD)
By multiplying these we get an adjusted valuation of  $27.15 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for BV:NYS. The 2 analysts have a concensus valuation for BV:NYS for 2019 of $21.00 (USD).

BV:NYS BrightView Holdings

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 1 0 4.0000 Outperform 2018-11-28

Current Price: 13.18 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 1.16 1.43
# EPS Analysts 1 1
Mean Revenue 2,408.40 2,562.90
# Revenue Analysts 1 1
Mean Target Price 21.00
Mean Cash Flow 1.71 2.63
Mean EBITDA 310.10 336.10
Mean Net Income 117.60 145.10
Mean Debt Outstanding 1,088.90 921.10
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 60.60 63.60

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Atkore International Gr (ATKR:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Atkore International Gr(ATKR:NYS)

Industrials:Diversified Industrials

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$20.64 (USD) 29/11/2018

Weighted Valuation
$29.00 (USD)

Overall Rating
Undervalued by 40.5%

Valuation Models Analyst Consensus: $29.00 (USD)
(in order of importance)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Overvalued on an Asset Valuation

Company Overview (ATKR:NYS USD)

Price 20.64
Range 20.57 – 22.15
52 week 17.50 – 28.20
Open 20.98
Vol / Avg. 812311/367137
Mkt cap 971.72M
P/E 8.32
Div/yield 0.00/0.00
EPS 2.48
Shares 47.08M
Beta 0.00

Company Description

Atkore International Group Inc is a diversified Industrials company. The business manufacturers and distributes electrical raceway products. Atkore International has two business segments, Electrical Raceway and Mechanical Products & Solutions. The Electrical Raceway segment manufactures products such as electrical conduits, armored cables, cable trays, and mounting systems. The Mechanical Products & Solutions segment manufacturers metal framing products and galvanized mechanical tubes. The company generates the majority of its revenue in the United States.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for ATKR:NYS

Using a discounted cash flow model we generated an intrinsic value of $42.64 (USD) for ATKR:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

ATKR:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $42.64 1% 5% 1% 5%
WACC (or Ke) 12.47 $49.28 $37.27
Terminal Growth Rate 3.00 $38.14 $48.20
Tax Rate 0.18 $46.03 $39.25
Cash Flow 329,907,222 $39.87 $45.41
Capital Expenditures 1,874,200 $42.65 $42.63
Long Term Debt 631,471,000 $43.31 $41.97

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $38.83 (USD) for ATKR:NYS. We also generated a valuation of $32.42 (USD) using other metrics and comparables.
The comparable companies were Actuant (ATU:NYS), Kadant (KAI:NYS), EnPro Industries (NPO:NYS), Raven Industries (RAVN:NAS) and Standex International (SXI:NYS).

Company ATKR:NYS End Date Value
Earnings/Share $2.48 (USD)
Book Value/Share $1.57 (USD)
Sales/Share $29.89 (USD)
Cash Flow/Share $3.01 (USD)
EBITDA/Share $4.56 (USD)
Price Based on Comps Adjustment Factor (%)
$54.46 (USD) 0.0
$4.62 (USD) 0.0
$53.95 (USD) 0.0
$30.39 (USD) 0.0
$50.72 (USD) 0.0
ATKR:NYS Ratios Used Average Values ATU:NYS KAI:NYS NPO:NYS RAVN:NAS SXI:NYS
8.96 PE Ratio 21.96 0.00 30.18 2.48 28.05 27.13
12.29 PB Ratio 2.95 2.60 3.23 1.49 5.18 2.26
0.64 PS Ratio 1.80 1.22 1.85 0.91 3.85 1.19
6.40 PCF Ratio 15.66 13.59 14.89 10.46 24.82 14.54
7.18 EV to EBITDA 11.13 12.07 12.62 2.39 18.17 10.38

Multiples

Using a multiples approach we generated a valuation of  $29.03 (USD) for ATKR:NYS

Company ATKR:NYS End Date Value
Earnings/Share $2.48 (USD)
Book Value/Share $1.57 (USD)
Sales/Share $29.89 (USD)
Cash Flow/Share $3.01 (USD)
EBITDA/Share $4.56 (USD)
Price Based on Comps Adjustment Factor
$42.42 (USD) 0
$7.26 (USD) 0
$25.79 (USD) 0
$29.22 (USD) 0
$40.48 (USD) 0
Ratios Ratio Average
PE Ratio 17.11
PB Ratio 4.64
PS Ratio 0.86
PCF Ratio 9.71
EV to EBITDA 8.88

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  ATKR:NYS for the last 2 years was  4.84

We ran the Adjusted Book Value for  ATKR:NYS and generated a book value of  $2.59 (USD)
By multiplying these we get an adjusted valuation of  $12.54 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for ATKR:NYS. The 2 analysts have a concensus valuation for ATKR:NYS for 2019 of $29.00 (USD).

ATKR:NYS Atkore International Gr

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 1 0 4.0000 Outperform 2018-11-28

Current Price: 20.64 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 3.12 3.57
# EPS Analysts 2 1
Mean Revenue 1,866.70 1,928.60
# Revenue Analysts 2 1
Mean Target Price 29.00
Mean Cash Flow 4.81 5.06
Mean EBITDA 291.60 308.50
Mean Net Income 150.50 171.10
Mean Debt Outstanding 586.00 473.80
Mean Tax Rate 26.00
Mean Growth Rate
Mean Capital Expenditure 34.70 35.70

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Exco Technologies (XTC:TSE) Fundamental Valuation Report

Fundamental Valuation Report

Exco Technologies(XTC:TSE)

Consumer Cyclical:Auto Parts

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$9.38 (CAD) 29/11/2018

Weighted Valuation
$11.45 (CAD)

Overall Rating
Undervalued by 22.1%

Valuation Models Analyst Consensus: $11.45 (CAD)
(in order of importance)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (XTC:TSE CAD)

Price 9.38
Range 9.12 – 9.46
52 week 8.65 – 10.42
Open 9.12
Vol / Avg. 44923/32666
Mkt cap 388.7M
P/E 9.38
Div/yield 0.34/0.04
EPS 1.00
Shares 41.84M
Beta 0.55

Company Description

Exco Technologies Ltd is a designer, developer, and manufacturer of dies, moulds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries. The company reports in two business segments namely, Casting and Extrusion segment and Automotive Solutions segment. Operations are based in North America, South America, and Thailand and serve automotive and industrial markets around the world. The company’s primary focus is for die-cast moulds, extrusion dies and machine consumable parts in the Canadian, European, South American and United States markets. The majority of the company revenue is derived from the geographical segment of United States followed by Europe.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for XTC:TSE

Using a discounted cash flow model we generated an intrinsic value of $14.33 (CAD) for XTC:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

XTC:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $14.33 1% 5% 1% 5%
WACC (or Ke) 8.76 $17.86 $11.85
Terminal Growth Rate 3.00 $12.07 $17.55
Tax Rate 0.23 $15.73 $12.93
Cash Flow 87,840,780 $13.04 $15.62
Capital Expenditures -20,005,800 $14.06 $14.60
Long Term Debt 88,952,000 $14.44 $14.22

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $4.88 (CAD) for XTC:TSE. We also generated a valuation of $11.67 (CAD) using other metrics and comparables.
The comparable companies were Martinrea International (MRE:TSE) and Uni-Select (UNS:TSE).

Company XTC:TSE End Date Value
Earnings/Share $1.00 (CAD)
Book Value/Share $7.85 (CAD)
Sales/Share $13.38 (CAD)
Cash Flow/Share $1.24 (CAD)
EBITDA/Share $1.81 (CAD)
Price Based on Comps Adjustment Factor (%)
$10.00 (CAD) -51.8
$8.65 (CAD) -40.4
$4.61 (CAD) 2.3
$5.41 (CAD) -17.6
$11.97 (CAD) -58.6
XTC:TSE Ratios Used Average Values MRE:TSE UNS:TSE
10.26 PE Ratio 10.00 5.50 14.49
1.18 PB Ratio 1.10 0.89 1.31
0.69 PS Ratio 0.34 0.28 0.41
7.42 PCF Ratio 5.00 3.60 6.39
5.36 EV to EBITDA 6.61 3.50 9.72

Multiples

Using a multiples approach we generated a valuation of  $12.29 (CAD) for XTC:TSE

Company XTC:TSE End Date Value
Earnings/Share $1.00 (CAD)
Book Value/Share $7.85 (CAD)
Sales/Share $13.38 (CAD)
Cash Flow/Share $1.24 (CAD)
EBITDA/Share $1.81 (CAD)
Price Based on Comps Adjustment Factor
$11.70 (CAD) 0
$14.99 (CAD) 0
$12.56 (CAD) 0
$10.31 (CAD) 0
$11.90 (CAD) 0
Ratios Ratio Average
PE Ratio 11.70
PB Ratio 1.91
PS Ratio 0.94
PCF Ratio 8.29
EV to EBITDA 6.57

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  XTC:TSE for the last 10 years was  1.81

We ran the Adjusted Book Value for  XTC:TSE and generated a book value of  $7.89 (CAD)
By multiplying these we get an adjusted valuation of  $14.30 (CAD)

Analyst Data

In the Stockcalc database there are 5 analysts that provide a valuation for XTC:TSE. The 5 analysts have a concensus valuation for XTC:TSE for 2019 of $11.45 (CAD).

XTC:TSE Exco Technologies

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 3 0 3.4000 Hold 2018-11-28

Current Price: 9.38 CAD

Analyst Consensus
CAD Millions 2019 2020 2021
Mean EPS 1.11 1.19 1.41
# EPS Analysts 5 5 1
Mean Revenue 601.00 614.30 641.00
# Revenue Analysts 5 5 1
Mean Target Price 11.45
Mean Cash Flow 1.63 1.69 1.93
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


The Toronto-Dominion Bank (TD:NYS) Fundamental Valuation Report

Fundamental Valuation Report

The Toronto-Dominion Bank(TD:NYS)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$73.56 (CAD) / $55.25 (USD) 29/11/2018

Weighted Valuation
$79.94 (CAD) / $60.04 (USD)

Use a conversion rate of 0.7510439 from CAD to USD.

Overall Rating
Undervalued by 8.7%

Valuation Models Analyst Consensus: $85.13 (CAD) / $63.93 (USD)
(in order of importance) Adjusted Book Value: $77.20 (CAD) / $57.98 (USD)
Discounted Cash Flow: $69.85 (CAD) / $52.46 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Fairly valued on an Asset Valuation

Company Overview (TD:NYS USD)

Price 0.00
Range 0.00 – 0.00
52 week 0.00 – 0.00
Open 0.00
Vol / Avg. 0/0
Mkt cap 0
P/E 0.00
Div/yield 0.00/0.00
EPS 0.00
Shares 0
Beta 0.00

Company Description

Toronto-Dominion is one of Canada’s two largest banks and operates three business segments: Canadian retail banking, U.S. retail banking, and wholesale banking. The bank’s U.S. operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 42% ownership stake in TD Ameritrade, a discount brokerage.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for TD:NYS

Using a discounted cash flow model we generated an intrinsic value of $69.85 (CAD) / $52.46 (USD) for TD:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

TD:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $69.85 1% 5% 1% 5%
WACC (or Ke) 10.57 $80.85 $61.43
Terminal Growth Rate 3.00 $62.53 $79.41
Tax Rate 0.23 $74.62 $65.08
Cash Flow 14,935,290,939 $66.06 $73.64
Capital Expenditures -725,400,000 $69.69 $70.02
Long Term Debt 0 $69.85 $69.85

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $55.96 (CAD) / $42.03 (USD) for TD:NYS. We also generated a valuation of $80.93 (CAD) / $60.78 (USD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:TSE), Bank of Nova Scotia (BNS:TSE) and Royal Bank of Canada (RY:NYS).

Company TD:NYS End Date Value
Earnings/Share $6.01 (CAD) / $4.51 (USD)
Book Value/Share $39.93 (CAD) / $29.99 (USD)
Sales/Share $20.73 (CAD) / $15.57 (USD)
Cash Flow/Share $14.73 (CAD) / $11.06 (USD)
EBITDA/Share $15.64 (CAD) / $11.75 (USD)
Price Based on Comps Adjustment Factor (%)
$71.43 (CAD) / $53.65 (USD) -55.4
$65.28 (CAD) / $49.03 (USD) 21.9
$63.71 (CAD) / $47.85 (USD) 36.2
($6.55) (CAD) / ($4.92) (USD) -69.1
$0.00 (CAD) / $0.00 (USD) -77.3
TD:NYS Ratios Used Average Values BMO:TSE BNS:TSE RY:NYS
12.44 PE Ratio 11.89 13.30 10.48 11.87
1.85 PB Ratio 1.64 1.55 1.43 1.92
3.56 PS Ratio 3.07 2.82 3.12 3.28
5.01 PCF Ratio 5.62 6.59 0.00 4.66
0.00 EV to EBITDA 0.00 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $57.77 (CAD) / $43.39 (USD) for TD:NYS

Company TD:NYS End Date Value
Earnings/Share $6.01 (CAD) / $4.51 (USD)
Book Value/Share $39.93 (CAD) / $29.99 (USD)
Sales/Share $20.73 (CAD) / $15.57 (USD)
Cash Flow/Share $14.73 (CAD) / $11.06 (USD)
EBITDA/Share $15.64 (CAD) / $11.75 (USD)
Price Based on Comps Adjustment Factor
$79.23 (CAD) / $59.50 (USD) 0
$71.64 (CAD) / $53.81 (USD) 0
$70.53 (CAD) / $52.97 (USD) 0
$48.82 (CAD) / $36.67 (USD) 0
$18.63 (CAD) / $13.99 (USD) 0
Ratios Ratio Average
PE Ratio 13.18
PB Ratio 1.79
PS Ratio 3.40
PCF Ratio 3.32
EV to EBITDA 1.19

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  TD:NYS for the last 10 years was  1.79

We ran the Adjusted Book Value for  TD:NYS and generated a book value of  $43.19 (CAD) / $32.43 (USD)
By multiplying these we get an adjusted valuation of  $77.20 (CAD) / $57.98 (USD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for TD:NYS. The 8 analysts have a concensus valuation for TD:NYS for 2019 of $85.13 (CAD) / $63.93 (USD).

TD:NYS The Toronto-Dominion Bank

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
4 2 0 4.2222 Outperform 2018-11-28

Current Price: 55.25 USD

Analyst Consensus
CAD Millions 2019 2020
Mean EPS 6.92 7.35
# EPS Analysts 8 7
Mean Revenue 39,220.50 41,668.80
# Revenue Analysts 6 4
Mean Target Price 85.13
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Lockheed Martin (LMT:NYS) and Constellation Brands (STZ.B:NYS) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on NYSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on NYSE

Today’s data is for companies listed on the New York Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
BA Boeing Co 2019 333.500000 435.7143 USD 7
LMT Lockheed Martin Corp 2019 299.940000 365.2500 USD 4
GS Goldman Sachs Group Inc 2019 198.350000 276.6667 USD 6
BLK BlackRock Inc 2019 427.270000 512.0000 USD 3
FDX FedEx Corp 2019 231.850000 288.8000 USD 5
AGN Allergan PLC 2019 154.750000 220.0000 USD 5
STZ.B Constellation Brands Inc 2020 200.869400 271.6000 USD 5
STZ Constellation Brands Inc 2020 201.320000 271.6000 USD 5
PXD Pioneer Natural Resources Co 2019 147.900000 238.1750 USD 8
FLT Fleetcor Technologies Inc 2019 192.940000 249.2500 USD 4
BAP Credicorp Ltd 2019 225.080000 568.1400 USD 2
ANET Arista Networks Inc 2019 235.400000 287.8333 USD 6
PANW Palo Alto Networks Inc 2019 176.540000 250.7778 USD 9
SHOP Shopify Inc 2019 149.960000 213.5895 CAD 9
MKL Markel Corp 2019 1120.110000 1300.0000 USD 1
LLL L3 Technologies Inc 2019 183.270000 235.3333 USD 3
WCG WellCare Health Plans Inc 2019 251.820000 330.0000 USD 1
URI United Rentals Inc 2019 117.250000 176.0000 USD 4
BIO Bio-Rad Laboratories Inc 2019 274.750000 350.0000 USD 1
BIO.B Bio-Rad Laboratories Inc 2019 269.100000 350.0000 USD 1
WEX WEX Inc 2019 157.130000 210.5000 USD 4
MSG The Madison Square Garden Co 2019 274.630000 360.0000 USD 1
THO Thor Industries Inc 2019 66.200000 125.0000 USD 2
RH RH 2020 116.610000 169.3333 USD 3
MED Medifast Inc 2019 146.760000 249.0000 USD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

LMT:NYS Lockheed Martin

http://www.lockheedmartin.com
Lockheed Martin has 100000 employees and is headquartered in United States.
Lockheed Martin Corp is a security and aerospace company engaged in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services.

STZ.B:NYS Constellation Brands

http://www.cbrands.com
Constellation Brands has 9600 employees and is headquartered in United States.
Constellation Brands Inc is engaged in the beverage industry. Its core products are alcoholic drinks such as beers, wines and other spirits.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.