Antero Midstream GP (AMGP:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Antero Midstream GP(AMGP:NYS)

Energy:Oil & Gas Midstream

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

Close Price/Date
$13.54 (USD) 14/02/2019

Weighted Valuation
$14.68 (USD)

Overall Rating
Undervalued by 8.4%

Valuation Models Analyst Consensus: $15.00 (USD)
(in order of importance) Multiples: $14.20 (USD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Overvalued on an Asset Valuation

Company Overview (AMGP:NYS USD)

Price 13.54
Range 13.17 – 13.71
52 week 10.53 – 20.52
Open 13.25
Vol / Avg. 1.79M/1.23M
Mkt cap 2.52B
P/E 41.08
Div/yield 0.45/0.04
EPS 0.33
Shares 186.24M
Beta 0.00

Company Description

ASV Holdings Inc is a designer and manufacturer of a broad range of high quality compact track loader (CTL) and skid steer loader (SSL) equipments. CTLs are compact tracked vehicles with lift arms that function particularly well in wet, muddy, snowy or harsh conditions and where there are slopes and grades, such as in a construction, agriculture or forestry environment. SSLs are wheeled vehicles with lift arms that can be outfitted with the same attachments as CTLs and can therefore be used in most of the same applications. It also serves as a private label original equipment manufacturer for several manufacturers. The company’s markets through a distribution network in North America, Australia and New Zealand under the ASV and Terex brands.

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 AMGP:NYS

Using a discounted cash flow model we generated an intrinsic value of $18.43 (USD) for AMGP:NYS

Sensitivity Analysis

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

AMGP:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $18.43 1% 5% 1% 5%
WACC (or Ke) 16.63 $20.07 $17.02
Terminal Growth Rate 3.00 $17.29 $19.75
Tax Rate 0.33 $20.22 $16.64
Cash Flow 1,242,351,716 $17.00 $19.86
Capital Expenditures -332,586,000 $18.09 $18.77
Long Term Debt 0 $18.43 $18.43

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $10.09 (USD) for AMGP:NYS. We also generated a valuation of $10.95 (USD) using other metrics and comparables.
The comparable companies were Enbridge Energy (EEQ.DL:NYS), EnLink Midstream Partners (ENLK.DL:NYS), Genesis Energy (GEL:NYS), Holly Energy Partners (HEP:NYS) and NuStar Energy (NS:NYS).

Company AMGP:NYS End Date Value
Earnings/Share $0.33 (USD)
Book Value/Share $0.13 (USD)
Sales/Share $0.66 (USD)
Cash Flow/Share $0.39 (USD)
EBITDA/Share $0.53 (USD)
Price Based on Comps Adjustment Factor (%)
$39.72 (USD) 0.0
$0.35 (USD) 0.0
$1.47 (USD) 0.0
$2.75 (USD) 0.0
$6.14 (USD) 0.0
AMGP:NYS Ratios Used Average Values EEQ.DL:NYS ENLK.DL:NYS GEL:NYS HEP:NYS NS:NYS
53.68 PE Ratio 120.37 0.00 227.79 0.00 12.95 0.00
99.47 PB Ratio 269.73 1338.17 1.06 1.01 7.24 1.16
20.28 PS Ratio 2.23 0.00 0.57 0.87 6.17 1.29
34.66 PCF Ratio 7.10 0.00 5.93 5.83 11.14 5.52
30.29 EV to EBITDA 11.54 0.00 8.01 11.02 12.03 15.10

Multiples

Using a multiples approach we generated a valuation of  $14.20 (USD) for AMGP:NYS

Company AMGP:NYS End Date Value
Earnings/Share $0.33 (USD)
Book Value/Share $0.13 (USD)
Sales/Share $0.66 (USD)
Cash Flow/Share $0.39 (USD)
EBITDA/Share $0.53 (USD)
Price Based on Comps Adjustment Factor
$13.35 (USD) 0
$23.81 (USD) 0
$9.44 (USD) 0
$11.02 (USD) 0
$13.39 (USD) 0
Ratios Ratio Average
PE Ratio 40.47
PB Ratio 176.50
PS Ratio 14.26
PCF Ratio 28.46
EV to EBITDA 25.18

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  AMGP:NYS for the last 1 years was  173.44

We ran the Adjusted Book Value for  AMGP:NYS and generated a book value of  $0.00 (USD)
By multiplying these we get an adjusted valuation of  $0.00 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for AMGP:NYS. The 1 analysts have a concensus valuation for AMGP:NYS for 2019 of $15.00 (USD).

AMGP:NYS Antero Midstream GP

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 1 0 3.0000 Hold 2019-2-13

Current Price: 13.54 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 1.09 1.35
# EPS Analysts 1 1
Mean Revenue 1,081.50 1,222.00
# Revenue Analysts 1 1
Mean Target Price 15.00
Mean Cash Flow 1.47 1.81
Mean EBITDA 791.10 995.50
Mean Net Income 548.80 688.30
Mean Debt Outstanding 2,846.70 3,353.80
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 749.20 564.80

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.


Antero Resources (AR:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Antero Resources(AR:NYS)

Energy:Oil & Gas E&P

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

Close Price/Date
$9.07 (USD) 14/02/2019

Weighted Valuation
$12.00 (USD)

Overall Rating
Undervalued by 32.3%

Valuation Models Analyst Consensus: $12.00 (USD)
(in order of importance)
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 (AR:NYS USD)

Price 9.07
Range 8.73 – 9.32
52 week 8.73 – 22.44
Open 9.01
Vol / Avg. 13.69M/5.45M
Mkt cap 2.8B
P/E 13.74
Div/yield 0.00/0.00
EPS -1.26
Shares 308.65M
Beta 1.06

Company Description

Antero Resources, based in Denver, engages in the exploration for and production of natural gas and NGLs in the United States and Canada. At the end of 2017, the company reported proven reserves of 17.3 trillion cubic feet of natural gas equivalent. Daily production averaged approximately 2,252 mmcfe a day in 2017, at a ratio of 28% liquids and 72% natural gas.

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 AR:NYS

Using a discounted cash flow model we generated an intrinsic value of ($54.59) (USD) for AR:NYS

Comparables Model

Using similar companies and price based ratios we generated a valuation of $21.30 (USD) for AR:NYS. We also generated a valuation of $13.70 (USD) using other metrics and comparables.
The comparable companies were Gulfport Energy (GPOR:NAS), Matador Resources (MTDR:NYS), Range Resources (RRC:NYS), SM Energy (SM:NYS) and Whiting Petroleum (WLL:NYS).

Company AR:NYS End Date Value
Earnings/Share ($1.26) (USD)
Book Value/Share $25.64 (USD)
Sales/Share $10.17 (USD)
Cash Flow/Share $4.97 (USD)
EBITDA/Share $3.44 (USD)
Price Based on Comps Adjustment Factor (%)
($12.64) (USD) 0.0
$19.84 (USD) -38.8
$15.11 (USD) 23.5
($2.72) (USD) 7.8
$36.69 (USD) 99.4
AR:NYS Ratios Used Average Values GPOR:NAS MTDR:NYS RRC:NYS SM:NYS WLL:NYS
15.24 PE Ratio 10.03 3.32 12.42 11.49 12.91 0.00
0.39 PB Ratio 0.77 0.44 1.47 0.47 0.85 0.64
0.99 PS Ratio 1.49 1.10 2.77 0.90 1.40 1.26
2.03 PCF Ratio 2.93 1.88 4.40 2.75 3.24 2.40
6.79 EV to EBITDA 10.66 5.90 6.96 8.49 5.14 26.81

Multiples

Using a multiples approach we generated a valuation of  $27.04 (USD) for AR:NYS

Company AR:NYS End Date Value
Earnings/Share ($1.26) (USD)
Book Value/Share $25.64 (USD)
Sales/Share $10.17 (USD)
Cash Flow/Share $4.97 (USD)
EBITDA/Share $3.44 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$27.14 (USD) 0
$22.93 (USD) 0
$28.40 (USD) 0
$29.69 (USD) 0
Ratios Ratio Average
PE Ratio 12.50
PB Ratio 1.06
PS Ratio 2.25
PCF Ratio 5.72
EV to EBITDA 8.63

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  AR:NYS for the last 5 years was  1.07

We ran the Adjusted Book Value for  AR:NYS and generated a book value of  $24.84 (USD)
By multiplying these we get an adjusted valuation of  $26.65 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for AR:NYS. The 1 analysts have a concensus valuation for AR:NYS for 2019 of $12.00 (USD).

AR:NYS Antero Resources

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 1 0 3.5000 Hold 2019-2-13

Current Price: 9.07 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 0.55 -0.35
# EPS Analysts 2 1
Mean Revenue 4,685.30 4,505.30
# Revenue Analysts 2 1
Mean Target Price 12.00
Mean Cash Flow 6.10 6.10
Mean EBITDA 2,147.10 2,094.00
Mean Net Income 189.00 -100.30
Mean Debt Outstanding 5,848.20 6,303.00
Mean Tax Rate
Mean Growth Rate 36.54
Mean Capital Expenditure 2,174.10 2,141.50

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.


UnitedHealth Group (UNH:NYS) and Goldman Sachs Group (GS: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
UNH UnitedHealth Group Inc 2019 263.800000 307.8000 USD 5
ANTM Anthem Inc 2019 305.700000 359.2500 USD 4
CI Cigna Corp 2019 188.800000 245.6000 USD 5
GS Goldman Sachs Group Inc 2019 194.690000 244.6667 USD 6
BLK BlackRock Inc 2019 427.450000 491.6667 USD 3
ZF Bank of New York Mellon Corp 2019 9.415000 53.3333 USD 3
AGN Allergan PLC 2019 140.330000 178.7500 USD 4
HUM Humana Inc 2019 299.350000 348.5000 USD 4
STZ Constellation Brands Inc 2020 174.770000 225.6000 USD 5
STZ.B Constellation Brands Inc 2020 174.910000 225.6000 USD 5
PXD Pioneer Natural Resources Co 2019 145.950000 210.2857 USD 7
TDG TransDigm Group Inc 2019 432.090000 470.3333 USD 3
SHOP Shopify Inc 2019 172.020000 252.0672 CAD 9
ANET Arista Networks Inc 2019 236.400000 314.2500 USD 4
MKL Markel Corp 2019 1016.870000 1300.0000 USD 1
FNV Franco-Nevada Corp 2019 74.120000 111.9064 CAD 13
WCG WellCare Health Plans Inc 2019 270.490000 330.0000 USD 1
ADS Alliance Data Systems Corp 2019 169.410000 219.0667 USD 6
ALB Albemarle Corp 2019 81.730000 119.8000 USD 5
XPO XPO Logistics Inc 2019 59.670000 106.2000 USD 5
WEX WEX Inc 2019 172.030000 209.6667 USD 3
HHC The Howard Hughes Corp 2019 112.090000 162.5000 USD 2
I Intelsat SA 2019 23.000000 66.0000 USD 1
MED Medifast Inc 2019 131.540000 249.0000 USD 1
LNN Lindsay Corp 2019 88.500000 132.0000 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.

UNH:NYS UnitedHealth Group

http://www.unitedhealthgroup.com
UnitedHealth Group has 300000 employees and is headquartered in United States.
UnitedHealth Group Inc is a diversified health care company in the United States. It designs products, provides services and applies technologies that improve access to health and well-being services, and make health care more affordable.

GS:NYS Goldman Sachs Group

http://www.gs.com
Goldman Sachs Group has 39800 employees and is headquartered in United States.
Goldman Sachs Group Inc is engaged in capital market activities. Its services primarily include investment banking operations.

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.

Aircastle (AYR:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Aircastle(AYR:NYS)

Industrials:Rental & Leasing Services

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

Close Price/Date
$20.54 (USD) 13/02/2019

Weighted Valuation
$23.73 (USD)

Overall Rating
Undervalued by 15.5%

Valuation Models Analyst Consensus: $23.00 (USD)
(in order of importance) Adjusted Book Value: $24.82 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (AYR:NYS USD)

Price 20.54
Range 20.53 – 21.09
52 week 16.19 – 22.95
Open 20.98
Vol / Avg. 231934/307640
Mkt cap 1.54B
P/E 6.48
Div/yield 1.14/0.06
EPS 3.17
Shares 75.13M
Beta 1.74

Company Description

Aircastle Ltd is engaged in acquiring, leasing, and selling of commercial jet aircraft to airlines. The company has only single operating segment which is leasing, financing, selling, and managing commercial flight equipment.

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 AYR:NYS

Using a discounted cash flow model we generated an intrinsic value of ($23.43) (USD) for AYR:NYS

Comparables Model

Using similar companies and price based ratios we generated a valuation of $14.82 (USD) for AYR:NYS. We also generated a valuation of $30.32 (USD) using other metrics and comparables.
The comparable companies were and Triton International (TRTN:NYS).

Company AYR:NYS End Date Value
Earnings/Share $3.17 (USD)
Book Value/Share $25.96 (USD)
Sales/Share $9.44 (USD)
Cash Flow/Share $6.27 (USD)
EBITDA/Share $10.21 (USD)
Price Based on Comps Adjustment Factor (%)
$18.53 (USD) -15.7
$33.02 (USD) -74.7
$19.95 (USD) 12.0
($42.13) (USD) -51.0
$78.78 (USD) 4.9
AYR:NYS Ratios Used Average Values TRTN:NYS
8.27 PE Ratio 5.85 5.85
0.80 PB Ratio 1.27 1.27
2.21 PS Ratio 2.11 2.11
3.32 PCF Ratio 3.05 3.05
7.90 EV to EBITDA 7.71 7.71

Multiples

Using a multiples approach we generated a valuation of  $37.67 (USD) for AYR:NYS

Company AYR:NYS End Date Value
Earnings/Share $3.17 (USD)
Book Value/Share $25.96 (USD)
Sales/Share $9.44 (USD)
Cash Flow/Share $6.27 (USD)
EBITDA/Share $10.21 (USD)
Price Based on Comps Adjustment Factor
$40.74 (USD) 0
$24.63 (USD) 0
$20.13 (USD) 0
$21.52 (USD) 0
$81.34 (USD) 0
Ratios Ratio Average
PE Ratio 12.85
PB Ratio 0.95
PS Ratio 2.13
PCF Ratio 3.43
EV to EBITDA 7.96

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  AYR:NYS for the last 10 years was  0.93

We ran the Adjusted Book Value for  AYR:NYS and generated a book value of  $26.62 (USD)
By multiplying these we get an adjusted valuation of  $24.82 (USD)

Analyst Data

In the Stockcalc database there are 3 analysts that provide a valuation for AYR:NYS. The 3 analysts have a concensus valuation for AYR:NYS for 2019 of $23.00 (USD).

AYR:NYS Aircastle

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 3 0 3.0000 Hold 2019-2-12

Current Price: 20.54 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 2.31 2.71
# EPS Analysts 2 1
Mean Revenue 844.70 895.30
# Revenue Analysts 2 1
Mean Target Price 23.00
Mean Cash Flow 8.59 9.39
Mean EBITDA 727.80 795.00
Mean Net Income 167.70 204.30
Mean Debt Outstanding 4,428.00
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 1,105.00 1,105.00

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.


Groupon (GRPN:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Groupon(GRPN:NAS)

Technology:Internet Content & Information

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

Close Price/Date
$3.52 (USD) 13/02/2019

Weighted Valuation
$4.37 (USD)

Overall Rating
Undervalued by 24.1%

Valuation Models Analyst Consensus: $5.00 (USD)
(in order of importance) Discounted Cash Flow: $3.23 (USD)
Adjusted Book Value: $4.75 (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 (GRPN:NAS USD)

Price 3.52
Range 3.31 – 3.60
52 week 2.85 – 5.27
Open 3.60
Vol / Avg. 28.77M/7.58M
Mkt cap 2.01B
P/E 0.00
Div/yield 0.00/0.00
EPS -0.02
Shares 570.31M
Beta 1.37

Company Description

Groupon Inc acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store. It offers consumers daily deals (in the form of online vouchers) from local merchants. Groupon also sells products directly to consumers. It generates revenue from the take rate on the purchase and/or usage of the vouchers (40% of total revenue) and from direct sales (60% of total revenue). More than 65% of Groupon’s revenue comes from North America.

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 GRPN:NAS

Using a discounted cash flow model we generated an intrinsic value of $3.23 (USD) for GRPN:NAS

Sensitivity Analysis

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

GRPN:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $3.23 1% 5% 1% 5%
WACC (or Ke) 12.12 $3.69 $2.86
Terminal Growth Rate 3.00 $2.92 $3.61
Tax Rate 0.27 $3.48 $2.97
Cash Flow 334,880,446 $3.01 $3.44
Capital Expenditures -74,005,200 $3.18 $3.27
Long Term Debt 230,148,000 $3.25 $3.21

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $7.07 (USD) for GRPN:NAS. We also generated a valuation of $5.32 (USD) using other metrics and comparables.
The comparable companies were GrubHub (GRUB:NYS), Liberty Expedia Holdings (LEXEA:NAS) and Yelp (YELP:NYS).

Company GRPN:NAS End Date Value
Earnings/Share ($0.02) (USD)
Book Value/Share $0.58 (USD)
Sales/Share $4.73 (USD)
Cash Flow/Share $0.24 (USD)
EBITDA/Share $0.24 (USD)
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 0.0
$1.76 (USD) 86.2
$0.00 (USD) -55.9
$4.01 (USD) 74.8
$9.17 (USD) 0.0
GRPN:NAS Ratios Used Average Values GRUB:NYS LEXEA:NAS YELP:NYS
0.00 PE Ratio 53.25 53.25 0.00 0.00
6.49 PB Ratio 3.03 5.09 0.96 0.00
0.80 PS Ratio 4.08 7.95 0.21 0.00
15.42 PCF Ratio 18.07 34.94 1.21 0.00
12.64 EV to EBITDA 37.43 37.43 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $4.84 (USD) for GRPN:NAS

Company GRPN:NAS End Date Value
Earnings/Share ($0.02) (USD)
Book Value/Share $0.58 (USD)
Sales/Share $4.73 (USD)
Cash Flow/Share $0.24 (USD)
EBITDA/Share $0.24 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$4.12 (USD) 0
$3.98 (USD) 0
$4.50 (USD) 0
$6.77 (USD) 0
Ratios Ratio Average
PE Ratio 114.88
PB Ratio 7.09
PS Ratio 0.84
PCF Ratio 18.38
EV to EBITDA 27.65

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  GRPN:NAS for the last 7 years was  7.10

We ran the Adjusted Book Value for  GRPN:NAS and generated a book value of  $0.67 (USD)
By multiplying these we get an adjusted valuation of  $4.75 (USD)

Analyst Data

In the Stockcalc database there are 3 analysts that provide a valuation for GRPN:NAS. The 3 analysts have a concensus valuation for GRPN:NAS for 2019 of $5.00 (USD).

GRPN:NAS Groupon

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 2 0 4.0000 Outperform 2019-2-12

Current Price: 3.52 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 0.25 0.29 0.32
# EPS Analysts 5 4 2
Mean Revenue 2,624.60 2,636.00 2,646.80
# Revenue Analysts 5 4 2
Mean Target Price 5.00
Mean Cash Flow 0.46 0.53 0.69
Mean EBITDA 274.00 323.80
Mean Net Income 147.80 174.20 172.30
Mean Debt Outstanding -993.20 -1,206.50 -1,070.50
Mean Tax Rate 10.00 21.00 21.00
Mean Growth Rate 9.63
Mean Capital Expenditure 62.10 68.80 73.90

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.


Huntsman (HUN:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Huntsman(HUN:NYS)

Basic Materials:Chemicals

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

Close Price/Date
$22.59 (USD) 13/02/2019

Weighted Valuation
$28.50 (USD)

Overall Rating
Undervalued by 26.2%

Valuation Models Analyst Consensus: $28.50 (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: Undervalued on an Asset Valuation

Company Overview (HUN:NYS USD)

Price 22.59
Range 22.56 – 23.15
52 week 18.14 – 33.85
Open 22.79
Vol / Avg. 4.15M/2.77M
Mkt cap 5.27B
P/E 7.15
Div/yield 0.65/0.03
EPS 1.39
Shares 233.38M
Beta 2.26

Company Description

Huntsman Corp is a US-based manufacturer of differentiated organic chemical products. Its product portfolio comprises of the methylene diphenyl diisocyanate (MDI), amines, surfactants, maleic anhydride, epoxy-based polymer formulations, textile chemicals, dyes and others. The company’s products are used in the adhesives, aerospace, automotive, construction products, among others. Its operating segments are Polyurethanes, Performance Products, Advanced Materials and Textile Effects. It derives a majority of the revenue from the Polyurethanes segment which includes product used to produce rigid and flexible foams, as well as coatings, adhesives, sealants, and elastomers. The company operates in the US and other countries, of which key revenue is derived from the US.

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 HUN:NYS

Using a discounted cash flow model we generated an intrinsic value of $37.74 (USD) for HUN:NYS

Sensitivity Analysis

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

HUN:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $37.74 1% 5% 1% 5%
WACC (or Ke) 12.94 $44.17 $32.48
Terminal Growth Rate 3.00 $33.36 $43.09
Tax Rate 0.10 $40.96 $34.51
Cash Flow 1,643,153,556 $34.84 $40.63
Capital Expenditures 0 $37.74 $37.74
Long Term Debt 4,556,000,000 $38.71 $36.76

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $31.31 (USD) for HUN:NYS. We also generated a valuation of $48.91 (USD) using other metrics and comparables.
The comparable companies were Ashland Global Holdings (ASH:NYS), Balchem (BCPC:NAS), Celanese (CE:NYS), Eastman Chemical (EMN:NYS) and Minerals Technologies (MTX:NYS).

Company HUN:NYS End Date Value
Earnings/Share $1.39 (USD)
Book Value/Share $12.67 (USD)
Sales/Share $38.38 (USD)
Cash Flow/Share $5.79 (USD)
EBITDA/Share $5.79 (USD)
Price Based on Comps Adjustment Factor (%)
$29.55 (USD) 30.1
$32.66 (USD) -36.3
$73.74 (USD) -73.5
$70.89 (USD) -62.7
$65.96 (USD) -15.3
HUN:NYS Ratios Used Average Values ASH:NYS BCPC:NAS CE:NYS EMN:NYS MTX:NYS
6.10 PE Ratio 21.26 45.72 26.87 10.70 10.66 12.33
1.73 PB Ratio 2.58 1.40 3.91 4.11 1.94 1.53
0.57 PS Ratio 1.92 1.30 4.21 1.81 1.13 1.15
3.79 PCF Ratio 13.90 16.36 24.39 10.35 7.47 10.95
4.76 EV to EBITDA 11.38 12.43 18.66 9.24 5.20 11.38

Multiples

Using a multiples approach we generated a valuation of  $32.83 (USD) for HUN:NYS

Company HUN:NYS End Date Value
Earnings/Share $1.39 (USD)
Book Value/Share $12.67 (USD)
Sales/Share $38.38 (USD)
Cash Flow/Share $5.79 (USD)
EBITDA/Share $5.79 (USD)
Price Based on Comps Adjustment Factor
$25.29 (USD) 0
$35.29 (USD) 0
$19.80 (USD) 0
$32.28 (USD) 0
$51.48 (USD) 0
Ratios Ratio Average
PE Ratio 18.19
PB Ratio 2.78
PS Ratio 0.52
PCF Ratio 5.57
EV to EBITDA 8.88

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  HUN:NYS for the last 10 years was  2.74

We ran the Adjusted Book Value for  HUN:NYS and generated a book value of  $10.82 (USD)
By multiplying these we get an adjusted valuation of  $29.68 (USD)

Analyst Data

In the Stockcalc database there are 4 analysts that provide a valuation for HUN:NYS. The 4 analysts have a concensus valuation for HUN:NYS for 2019 of $28.50 (USD).

HUN:NYS Huntsman

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
3 1 0 4.5000 Outperform 2019-2-12

Current Price: 22.59 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 3.11 3.69
# EPS Analysts 4 4
Mean Revenue 9,427.40 9,892.00
# Revenue Analysts 3 3
Mean Target Price 28.50
Mean Cash Flow 4.40 5.20
Mean EBITDA 1,415.50 1,555.00
Mean Net Income 719.00 808.40
Mean Debt Outstanding 1,932.10 1,475.60
Mean Tax Rate 23.75 23.70
Mean Growth Rate
Mean Capital Expenditure 342.50 355.00

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.


Amazon.com (AMZN:NAS) and Alphabet (GOOGL:NAS) 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 NASDAQ

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 NASDAQ

Today’s data is for companies listed on the NASDAQ.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
AMZN Amazon.com Inc 2019 1638.010000 2133.6360 USD 11
GOOG Alphabet Inc 2019 1121.370000 1362.0000 USD 10
GOOGL Alphabet Inc 2019 1127.580000 1362.0000 USD 10
BKNG Booking Holdings Inc 2019 1895.290000 2195.0000 USD 5
ISRG Intuitive Surgical Inc 2019 539.710000 591.0000 USD 5
ILMN Illumina Inc 2019 292.200000 350.0000 USD 4
EQIX Equinix Inc 2019 397.480000 480.6667 USD 3
FANG Diamondback Energy Inc 2019 98.680000 149.6000 USD 5
SIVB SVB Financial Group 2019 242.130000 298.3333 USD 3
SRPT Sarepta Therapeutics Inc 2019 132.910000 200.8000 USD 5
JAZZ Jazz Pharmaceuticals PLC 2019 121.810000 173.4000 USD 5
SAGE Sage Therapeutics Inc 2019 153.890000 213.3333 USD 3
TLRY Tilray Inc 2019 75.940000 200.0000 USD 1
STMP Stamps.com Inc 2019 195.380000 260.0000 USD 1
ROLL RBC Bearings Inc 2020 132.650000 186.0000 USD 1
COHR Coherent Inc 2019 130.260000 189.5000 USD 2
GBT Global Blood Therapeutics Inc 2019 50.360000 109.3333 USD 3
STRA Strategic Education Inc 2019 114.900000 175.0000 USD 1
LGND Ligand Pharmaceuticals Inc 2019 119.760000 238.0000 USD 2
WTW Weight Watchers International Inc 2019 29.350000 90.0000 USD 3
MDGL Madrigal Pharmaceuticals Inc 2019 120.100000 301.6667 USD 3
ANAB AnaptysBio Inc 2019 69.340000 123.2500 USD 4
GTHX G1 Therapeutics Inc 2019 21.380000 75.0000 USD 1
ALBO Albireo Pharma Inc 2019 25.880000 86.0000 USD 1
CATB Catabasis Pharmaceuticals Inc 2019 4.450000 77.0000 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.

AMZN:NAS Amazon.com

http://www.amazon.com
Amazon.com has 647500 employees and is headquartered in United States.
Amazon.com Inc is an online retailer. The Company sells its products through the website which provides services, such as advertising services and co-branded credit card agreements. It also offers electronic devices like Kindle e-readers and Fire tablets.

GOOGL:NAS Alphabet

https://www.abc.xyz
Alphabet has 98771 employees and is headquartered in United States.
Alphabet Inc is a provider of internet content products and portals. Its suite of brands includes Search, Android, YouTube, Apps, Maps & Ads.

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.

Advanced Micro Devices (AMD:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Advanced Micro Devices(AMD:NAS)

Technology:Semiconductors

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

Close Price/Date
$22.96 (USD) 11/02/2019

Weighted Valuation
$24.30 (USD)

Overall Rating
Undervalued by 5.8%

Valuation Models Analyst Consensus: $25.36 (USD)
(in order of importance) Adjusted Book Value: $24.58 (USD)
Multiples: $20.57 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (AMD:NAS USD)

Price 22.96
Range 22.66 – 23.28
52 week 9.53 – 32.72
Open 23.05
Vol / Avg. 59.99M/100.24M
Mkt cap 23.08B
P/E 71.75
Div/yield 0.00/0.00
EPS 0.32
Shares 1.01B
Beta 3.40

Company Description

Advanced Micro Devices designs and produces microprocessors and low-power processor solutions for the computer and consumer electronics industries. The majority of the firm’s sales are in the computer market via CPUs and GPUs. AMD acquired graphics processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain. In 2009, the firm spun out its manufacturing operations to form a foundry joint venture, GlobalFoundries.

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 AMD:NAS

Using a discounted cash flow model we generated an intrinsic value of $4.62 (USD) for AMD:NAS

Sensitivity Analysis

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

AMD:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $4.62 1% 5% 1% 5%
WACC (or Ke) 18.56 $5.10 $4.21
Terminal Growth Rate 3.00 $4.29 $5.00
Tax Rate 0.03 $5.03 $4.23
Cash Flow 1,545,309,000 $4.22 $5.03
Capital Expenditures -107,200,000 $4.60 $4.65
Long Term Debt 1,632,000,000 $4.71 $4.54

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $7.25 (USD) for AMD:NAS. We also generated a valuation of $23.53 (USD) using other metrics and comparables.
The comparable companies were Analog Devices (ADI:NAS), Integrated Device Tech (IDTI:NAS), Microchip Technology (MCHP:NAS), Maxim Integrated Products (MXIM:NAS) and NVIDIA (NVDA:NAS).

Company AMD:NAS End Date Value
Earnings/Share $0.32 (USD)
Book Value/Share $1.26 (USD)
Sales/Share $6.09 (USD)
Cash Flow/Share $0.32 (USD)
EBITDA/Share $0.58 (USD)
Price Based on Comps Adjustment Factor (%)
$14.47 (USD) -57.2
$9.18 (USD) 0.0
$35.55 (USD) -73.8
$4.93 (USD) 0.0
$15.57 (USD) -62.2
AMD:NAS Ratios Used Average Values ADI:NAS IDTI:NAS MCHP:NAS MXIM:NAS NVDA:NAS
76.28 PE Ratio 412.87 0.00 60.31 1148.14 30.15 0.00
19.38 PB Ratio 7.29 0.00 9.73 3.68 8.45 0.00
4.01 PS Ratio 5.84 0.00 7.07 4.38 6.08 0.00
75.50 PCF Ratio 18.87 0.00 24.04 13.43 19.15 0.00
54.60 EV to EBITDA 26.69 0.00 46.17 20.79 13.10 0.00

Multiples

Using a multiples approach we generated a valuation of  $20.57 (USD) for AMD:NAS

Company AMD:NAS End Date Value
Earnings/Share $0.32 (USD)
Book Value/Share $1.26 (USD)
Sales/Share $6.09 (USD)
Cash Flow/Share $0.32 (USD)
EBITDA/Share $0.58 (USD)
Price Based on Comps Adjustment Factor
$20.65 (USD) 0
$25.82 (USD) 0
$11.31 (USD) 0
$27.61 (USD) 0
$17.49 (USD) 0
Ratios Ratio Average
PE Ratio 64.52
PB Ratio 20.49
PS Ratio 1.86
PCF Ratio 85.41
EV to EBITDA 29.96

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  AMD:NAS for the last 9 years was  19.51

We ran the Adjusted Book Value for  AMD:NAS and generated a book value of  $1.26 (USD)
By multiplying these we get an adjusted valuation of  $24.58 (USD)

Analyst Data

In the Stockcalc database there are 7 analysts that provide a valuation for AMD:NAS. The 7 analysts have a concensus valuation for AMD:NAS for 2019 of $25.36 (USD).

AMD:NAS Advanced Micro Devices

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
4 5 1 3.6000 Outperform 2019-2-8

Current Price: 22.96 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 0.63 0.90 1.05
# EPS Analysts 9 9 2
Mean Revenue 6,776.80 8,027.40 9,527.80
# Revenue Analysts 7 7 2
Mean Target Price 25.36
Mean Cash Flow 0.95 1.07 1.44
Mean EBITDA 858.20 1,054.80 1,500.30
Mean Net Income 668.50 1,016.90 1,310.00
Mean Debt Outstanding -832.80 -1,956.60 -3,544.30
Mean Tax Rate 8.43 9.50 10.20
Mean Growth Rate 16.97
Mean Capital Expenditure 183.20 202.40 143.00

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.


CONSOL Energy (CEIX:NYS) Fundamental Valuation Report

Fundamental Valuation Report

CONSOL Energy(CEIX:NYS)

Basic Materials:Coal

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

Close Price/Date
$34.49 (USD) 11/02/2019

Weighted Valuation
$41.10 (USD)

Overall Rating
Undervalued by 19.2%

Valuation Models Analyst Consensus: $44.00 (USD)
(in order of importance) Comparables: $36.75 (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 (CEIX:NYS USD)

Price 34.49
Range 33.29 – 35.69
52 week 27.45 – 47.35
Open 33.70
Vol / Avg. 298683/206154
Mkt cap 946.33M
P/E 6.41
Div/yield 0.00/0.00
EPS 5.38
Shares 27.44M
Beta 0.00

Company Description

CONSOL Energy Inc is a Canonsburg-based producer and exporter of high-BTU bituminous thermal coal. It owns and operates longwall mining operations in the nation and export terminals on the Eastern seaboard. The principal activity involves mining, preparation, and marketing of thermal coal, sold primarily to power generators. It also includes selling, general and administrative activities. It has its operations in Pennsylvania Mining Complex, Marine Terminal, and others.

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 CEIX:NYS

Using a discounted cash flow model we generated an intrinsic value of $194.83 (USD) for CEIX:NYS

Sensitivity Analysis

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

CEIX:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $194.83 1% 5% 1% 5%
WACC (or Ke) 7.88 $243.21 $162.63
Terminal Growth Rate 2.90 $165.26 $239.27
Tax Rate 0.05 $207.29 $182.37
Cash Flow 366,331,746 $182.96 $206.71
Capital Expenditures 0 $194.83 $194.83
Long Term Debt 0 $194.83 $194.83

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $36.75 (USD) for CEIX:NYS. We also generated a valuation of $44.31 (USD) using other metrics and comparables.
The comparable companies were Arch Coal (ARCH:NYS), Alliance Resource (ARLP:NAS), Peabody Energy (BTU:NYS), Contura Energy (CTRA:NYS) and Warrior Met Coal (HCC:NYS).

Company CEIX:NYS End Date Value
Earnings/Share $5.38 (USD)
Book Value/Share $11.70 (USD)
Sales/Share $54.03 (USD)
Cash Flow/Share $14.62 (USD)
EBITDA/Share $16.63 (USD)
Price Based on Comps Adjustment Factor (%)
$13.86 (USD) 0.0
$37.06 (USD) 0.0
$33.36 (USD) 0.0
$20.93 (USD) 0.0
$78.53 (USD) 0.0
CEIX:NYS Ratios Used Average Values ARCH:NYS ARLP:NAS BTU:NYS CTRA:NYS HCC:NYS
11.72 PE Ratio 2.58 0.00 0.00 0.00 2.58 0.00
3.04 PB Ratio 3.17 0.00 0.00 1.19 5.15 0.00
0.66 PS Ratio 0.62 0.00 0.00 0.87 0.37 0.00
2.43 PCF Ratio 3.52 0.00 0.00 4.04 3.00 0.00
3.47 EV to EBITDA 4.72 0.00 0.00 0.00 4.72 0.00

Multiples

Using a multiples approach we generated a valuation of  $51.95 (USD) for CEIX:NYS

Company CEIX:NYS End Date Value
Earnings/Share $5.38 (USD)
Book Value/Share $11.70 (USD)
Sales/Share $54.03 (USD)
Cash Flow/Share $14.62 (USD)
EBITDA/Share $16.63 (USD)
Price Based on Comps Adjustment Factor
$69.99 (USD) 0
$42.96 (USD) 0
$38.00 (USD) 0
$42.94 (USD) 0
$65.85 (USD) 0
Ratios Ratio Average
PE Ratio 13.01
PB Ratio 3.67
PS Ratio 0.70
PCF Ratio 2.94
EV to EBITDA 3.96

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  CEIX:NYS for the last 1 years was  3.63

We ran the Adjusted Book Value for  CEIX:NYS and generated a book value of  $14.94 (USD)
By multiplying these we get an adjusted valuation of  $54.30 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for CEIX:NYS. The 1 analysts have a concensus valuation for CEIX:NYS for 2019 of $44.00 (USD).

CEIX:NYS CONSOL Energy

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 0 0 5.0000 Buy 2019-2-8

Current Price: 34.49 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 4.02 2.90 1.70
# EPS Analysts 1 1 1
Mean Revenue 1,502.00 1,487.80 1,471.30
# Revenue Analysts 1 1 1
Mean Target Price 44.00
Mean Cash Flow
Mean EBITDA 412.00 360.00
Mean Net Income 114.70 82.80 48.50
Mean Debt Outstanding
Mean Tax Rate 10.00 10.00 10.00
Mean Growth Rate
Mean Capital Expenditure 130.50 130.50 117.60

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.


Cerner (CERN:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Cerner(CERN:NAS)

Technology:Healthcare Information Services

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

Close Price/Date
$57.50 (USD) 11/02/2019

Weighted Valuation
$65.50 (USD)

Overall Rating
Undervalued by 13.9%

Valuation Models Analyst Consensus: $65.00 (USD)
(in order of importance) Discounted Cash Flow: $66.25 (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 (CERN:NAS USD)

Price 57.50
Range 56.04 – 57.58
52 week 48.90 – 67.08
Open 56.16
Vol / Avg. 3.24M/2.62M
Mkt cap 18.65B
P/E 30.42
Div/yield 0.00/0.00
EPS 1.89
Shares 324.36M
Beta 1.00

Company Description

Cerner is a top-tier healthcare information technology supplier that helps its provider clients to improve efficiency within their complex healthcare operations. The company provides a wide range of software, hardware, and services to more than 9,000 facilities globally and has a footprint in roughly 30% of all U.S. hospitals.

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 CERN:NAS

Using a discounted cash flow model we generated an intrinsic value of $66.25 (USD) for CERN:NAS

Sensitivity Analysis

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

CERN:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $66.25 1% 5% 1% 5%
WACC (or Ke) 9.02 $79.99 $56.44
Terminal Growth Rate 3.00 $57.43 $78.59
Tax Rate 0.21 $70.97 $61.54
Cash Flow 2,069,575,813 $62.46 $70.05
Capital Expenditures -55,316,800 $66.16 $66.35
Long Term Debt 572,539,000 $66.34 $66.16

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $0.00 (USD) for CERN:NAS. We also generated a valuation of $97.06 (USD) using other metrics and comparables.
The comparable companies were athenahealth (ATHN:NAS) and Veeva Systems (VEEV:NYS).

Company CERN:NAS End Date Value
Earnings/Share $1.89 (USD)
Book Value/Share $15.62 (USD)
Sales/Share $15.84 (USD)
Cash Flow/Share $4.16 (USD)
EBITDA/Share $4.35 (USD)
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) -54.1
$0.00 (USD) -23.6
$0.00 (USD) 0.8
($1.33) (USD) -27.9
$0.00 (USD) -18.8
CERN:NAS Ratios Used Average Values ATHN:NAS VEEV:NYS
22.05 PE Ratio 0.00 0.00 0.00
3.52 PB Ratio 0.00 0.00 0.00
3.47 PS Ratio 0.00 0.00 0.00
13.19 PCF Ratio 0.00 0.00 0.00
11.83 EV to EBITDA 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $72.23 (USD) for CERN:NAS

Company CERN:NAS End Date Value
Earnings/Share $1.89 (USD)
Book Value/Share $15.62 (USD)
Sales/Share $15.84 (USD)
Cash Flow/Share $4.16 (USD)
EBITDA/Share $4.35 (USD)
Price Based on Comps Adjustment Factor
$65.76 (USD) 0
$78.43 (USD) 0
$71.24 (USD) 0
$80.92 (USD) 0
$64.78 (USD) 0
Ratios Ratio Average
PE Ratio 34.79
PB Ratio 5.02
PS Ratio 4.50
PCF Ratio 19.44
EV to EBITDA 14.89

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  CERN:NAS for the last 10 years was  5.00

We ran the Adjusted Book Value for  CERN:NAS and generated a book value of  $15.20 (USD)
By multiplying these we get an adjusted valuation of  $75.94 (USD)

Analyst Data

In the Stockcalc database there are 3 analysts that provide a valuation for CERN:NAS. The 3 analysts have a concensus valuation for CERN:NAS for 2019 of $65.00 (USD).

CERN:NAS Cerner

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 3 0 3.8333 Outperform 2019-2-8

Current Price: 57.5 USD

Analyst Consensus
USD Millions 2019 2020
Mean EPS 2.67 2.83
# EPS Analysts 6 1
Mean Revenue 5,781.10 6,111.80
# Revenue Analysts 3 1
Mean Target Price 65.00
Mean Cash Flow 4.34
Mean EBITDA 1,689.60
Mean Net Income 873.50 931.10
Mean Debt Outstanding
Mean Tax Rate 22.00 24.00
Mean Growth Rate 12.39
Mean Capital Expenditure 729.90

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.