Dell-VMWare Tracking (DVMT:NYS) Fundamental Valuation Report


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Dell-VMWare Tracking $89.20 (USD) Close Price as of 20/06/2018

Based on the analysis conducted in this report, Dell-VMWare Tracking, (DVMT:NYS) is found to be  Undervalued.

Company Dell-VMWare Tracking
Symbol:Exchange DVMT:NYS
Industry Technology:Software-Infrastructure
Close Price/Date $89.20 (USD) 20/06/2018
Weighted Average Valuation $120.00 (USD)
Summary DVMT:NYS is found to be  Undervalued by 34.5% using the 1 valuation models shown below.
Valuation Models Used Analyst Consensus: $120.00 (USD)
Valuation Methods Analysis This company is:
Cash Flow Basis: Overvalued on a Cash Flow Valuation basis
Comparable Company Basis: Undervalued on a Comparable Valuation basis
Asset Basis: Undervalued on an Asset Valuation basis

Valuation Details

Dell-VMWare Tracking Valuations

Summary chart

 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 DVMT:NYS

Using a discounted cash flow model we generated an intrinsic value of $0.00 (USD) for DVMT:NYS

Comparables Model

Using similar companies and price based ratios we generated a valuation of $197.43 (USD) for DVMT:NYS. We also generated a valuation of $108.03 (USD) using other metrics and comparables.
The comparable companies were CA (CA:NAS), Citrix Systems (CTXS:NAS), DST Systems (DST.DL:NYS), F5 Networks (FFIV:NAS) and Fair Isaac (FICO:NYS).

Company DVMT:NYS End Date Value
Earnings/Share $3.13 (USD)
Book Value/Share $24.09 (USD)
Sales/Share $40.62 (USD)
Cash Flow/Share $0.00 (USD)
EBITDA/Share $8.40 (USD)
Price Based on Comps Adjustment Factor (%)
$173.52 (USD) 0.0
$286.78 (USD) 0.0
$192.31 (USD) 0.0
$0.00 (USD) 0.0
$137.09 (USD) 0.0
DVMT:NYS Ratios Used Average Values CA:NAS CTXS:NAS DST.DL:NYS FFIV:NAS FICO:NYS
28.24 PE Ratio 55.44 32.98 154.99 11.67 26.80 50.75
3.67 PB Ratio 11.91 2.63 27.69 4.01 9.09 16.10
2.18 PS Ratio 4.73 3.65 5.70 2.35 5.47 6.50
0.00 PCF Ratio 21.95 12.91 16.04 34.34 15.39 31.09
11.42 EV to EBITDA 16.31 9.96 18.63 8.04 15.64 29.30

Multiples

Using a multiples approach we generated a valuation of  $110.54 (USD) for DVMT:NYS

Company DVMT:NYS End Date Value
Earnings/Share $3.13 (USD)
Book Value/Share $24.09 (USD)
Sales/Share $40.62 (USD)
Cash Flow/Share $0.00 (USD)
EBITDA/Share $8.40 (USD)
Price Based on Comps Adjustment Factor
$167.87 (USD) 0
$105.64 (USD) 0
$80.00 (USD) 0
$0.00 (USD) 0
$88.65 (USD) 0
Ratios Ratio Average
PE Ratio 53.63
PB Ratio 4.39
PS Ratio 1.97
PCF Ratio 6.78
EV to EBITDA 10.55

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  DVMT:NYS for the last 2 years was  4.39

We ran the Adjusted Book Value for  DVMT:NYS and generated a book value of  $37.60 (USD)
By multiplying these we get an adjusted valuation of  $164.92 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for DVMT:NYS. The 1 analysts have a concensus valuation for DVMT:NYS for 2019 of $120.00 (USD).

Company Overview (DVMT: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

Summary chart

Detailed Company Description

Dell-VMWare Tracking Stock is an information technology company. The company offers virtualization and cloud infrastructure solutions, which enable organizations to manage IT resources across complex multi-cloud, multi-device environments.

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


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