Nordstrom (JWN:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Nordstrom(JWN:NYS)

Consumer Cyclical:Department Stores

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

Close Price/Date
$43.45 (USD) 20/03/2019

Weighted Valuation
$46.29 (USD)

Overall Rating
Undervalued by 6.5%

Valuation Models Analyst Consensus: $56.00 (USD)
(in order of importance) Comparables: $32.82 (USD)
Adjusted Book Value: $44.10 (USD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Fairly valued on an Asset Valuation

Company Overview (JWN:NYS USD)

Price 43.45
Range 43.36 – 44.64
52 week 43.45 – 67.46
Open 44.55
Vol / Avg. 2.65M/3.19M
Mkt cap 6.73B
P/E 13.09
Div/yield 1.48/0.03
EPS 3.32
Shares 155M
Beta 0.54

Company Description

Nordstrom is a fashion retailer that operates approximately 140 department stores in the U.S. and Canada and approximately 240 outlet stores under the names Nordstrom Rack and Last Chance. The company also operates e-commerce sites and a personalized styling service called Trunk Club. Nordstrom’s largest merchandise categories are women’s apparel (32% of sales) and shoes (24% of sales). Nordstrom, which traces its history to a shoe store opened in Seattle in 1901, continues to be partially owned and managed by members of the Nordstrom family.

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 JWN:NYS

Using a discounted cash flow model we generated an intrinsic value of $182.93 (USD) for JWN:NYS

Sensitivity Analysis

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

JWN:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $182.93 1% 5% 1% 5%
WACC (or Ke) 5.73 $233.28 $149.29
Terminal Growth Rate 0.70 $152.49 $228.47
Tax Rate 0.23 $195.07 $170.79
Cash Flow 1,955,191,200 $173.59 $192.26
Capital Expenditures 0 $182.93 $182.93
Long Term Debt 2,782,000,000 $183.83 $182.03

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $32.82 (USD) for JWN:NYS. We also generated a valuation of $33.32 (USD) using other metrics and comparables.
The comparable companies were Dillard’s (DDS:NYS), Kohl’s (KSS:NYS) and Macy’s (M:NYS).

Company JWN:NYS End Date Value
Earnings/Share $3.32 (USD)
Book Value/Share $7.63 (USD)
Sales/Share $93.29 (USD)
Cash Flow/Share $7.62 (USD)
EBITDA/Share $8.95 (USD)
Price Based on Comps Adjustment Factor (%)
$34.13 (USD) -8.8
$11.45 (USD) 0.0
$37.82 (USD) 56.8
$23.08 (USD) -30.1
$46.90 (USD) 12.7
JWN:NYS Ratios Used Average Values DDS:NYS KSS:NYS M:NYS
14.24 PE Ratio 10.28 12.61 11.27 6.96
6.19 PB Ratio 1.50 1.27 2.05 1.18
0.51 PS Ratio 0.41 0.33 0.58 0.31
6.20 PCF Ratio 5.10 5.84 5.01 4.45
5.98 EV to EBITDA 5.24 5.69 5.76 4.28

Multiples

Using a multiples approach we generated a valuation of  $57.89 (USD) for JWN:NYS

Company JWN:NYS End Date Value
Earnings/Share $3.32 (USD)
Book Value/Share $7.63 (USD)
Sales/Share $93.29 (USD)
Cash Flow/Share $7.62 (USD)
EBITDA/Share $8.95 (USD)
Price Based on Comps Adjustment Factor
$65.21 (USD) 0
$62.32 (USD) 0
$55.74 (USD) 0
$43.72 (USD) 0
$62.47 (USD) 0
Ratios Ratio Average
PE Ratio 19.64
PB Ratio 8.16
PS Ratio 0.60
PCF Ratio 5.74
EV to EBITDA 6.98

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  JWN:NYS for the last 10 years was  7.96

We ran the Adjusted Book Value for  JWN:NYS and generated a book value of  $5.54 (USD)
By multiplying these we get an adjusted valuation of  $44.10 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for JWN:NYS. The 2 analysts have a concensus valuation for JWN:NYS for 2020 of $56.00 (USD).

JWN:NYS Nordstrom

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 2 0 3.7500 Outperform 2019-3-19

Current Price: 43.45 USD

Analyst Consensus
USD Millions 2020 2021 2022
Mean EPS 3.77 4.13 5.20
# EPS Analysts 4 3 1
Mean Revenue 16,233.70 16,642.30 17,445.90
# Revenue Analysts 3 2 1
Mean Target Price 56.00
Mean Cash Flow 8.35 8.99 9.76
Mean EBITDA 1,633.30 1,736.10 1,941.60
Mean Net Income 616.50 671.80 827.80
Mean Debt Outstanding 1,990.40 1,931.90 942.70
Mean Tax Rate
Mean Growth Rate 15.17
Mean Capital Expenditure 855.80 624.40 574.70

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.


Burlington Stores (BURL:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Burlington Stores(BURL:NYS)

Consumer Defensive:Discount Stores

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

Close Price/Date
$149.05 (USD) 20/03/2019

Weighted Valuation
$157.20 (USD)

Overall Rating
Undervalued by 5.5%

Valuation Models Analyst Consensus: $166.67 (USD)
(in order of importance) Comparables: $139.97 (USD)
Multiples: $163.26 (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 (BURL:NYS USD)

Price 149.05
Range 147.67 – 150.16
52 week 127.91 – 175.74
Open 148.60
Vol / Avg. 1.74M/2.03M
Mkt cap 10.05B
P/E 24.68
Div/yield 0.00/0.00
EPS 6.04
Shares 67.41M
Beta 0.15

Company Description

The third-largest American off-price apparel and home fashion retail firm (with 629 stores as of the end of fiscal 2017), Burlington Stores offers an assortment of products from over 5,000 brands through an everyday low price approach that undercuts conventional retailers’ regular prices by up to 65%. The company focuses on providing a treasure hunt experience, with a quickly changing array of merchandise in a relatively low-frills shopping environment. In fiscal 2017, 23% of sales came from women’s ready-to-wear apparel, 22% from accessories and footwear, 20% from menswear, 16% from youth apparel and baby, 14% from home décor, and 5% from coats. All sales come from 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 BURL:NYS

Using a discounted cash flow model we generated an intrinsic value of $187.07 (USD) for BURL:NYS

Sensitivity Analysis

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

BURL:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $187.07 1% 5% 1% 5%
WACC (or Ke) 5.27 $240.17 $151.78
Terminal Growth Rate 0.30 $154.85 $235.52
Tax Rate 0.10 $198.54 $175.61
Cash Flow 949,339,500 $174.63 $199.52
Capital Expenditures -205,654,600 $184.66 $189.49
Long Term Debt 1,353,342,000 $188.08 $186.07

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $139.97 (USD) for BURL:NYS. We also generated a valuation of $172.80 (USD) using other metrics and comparables.
The comparable companies were Dollar General (DG:NYS), Dollar Tree (DLTR:NAS), Ollie’s Bargain Outlet (OLLI:NAS) and Target (TGT:NYS).

Company BURL:NYS End Date Value
Earnings/Share $6.04 (USD)
Book Value/Share $2.87 (USD)
Sales/Share $95.98 (USD)
Cash Flow/Share $11.04 (USD)
EBITDA/Share $0.00 (USD)
Price Based on Comps Adjustment Factor (%)
$120.96 (USD) 57.0
$12.71 (USD) 0.0
$182.55 (USD) 2.1
$221.22 (USD) -22.8
$0.00 (USD) 19.3
BURL:NYS Ratios Used Average Values DG:NYS DLTR:NAS OLLI:NAS TGT:NYS
25.00 PE Ratio 20.03 17.55 13.07 37.38 12.11
59.17 PB Ratio 4.43 4.90 3.19 6.24 3.39
1.77 PS Ratio 1.90 1.27 1.00 4.82 0.53
15.37 PCF Ratio 20.03 14.62 11.67 47.37 6.46
16.21 EV to EBITDA 15.60 13.29 10.51 31.33 7.26

Multiples

Using a multiples approach we generated a valuation of  $163.26 (USD) for BURL:NYS

Company BURL:NYS End Date Value
Earnings/Share $6.04 (USD)
Book Value/Share $2.87 (USD)
Sales/Share $95.98 (USD)
Cash Flow/Share $11.04 (USD)
EBITDA/Share $10.03 (USD)
Price Based on Comps Adjustment Factor
$179.22 (USD) 0
$234.84 (USD) 0
$105.71 (USD) 0
$156.40 (USD) 0
$140.15 (USD) 0
Ratios Ratio Average
PE Ratio 29.67
PB Ratio 81.86
PS Ratio 1.10
PCF Ratio 14.16
EV to EBITDA 13.97

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  BURL:NYS for the last 0 years was  77.15

We ran the Adjusted Book Value for  BURL:NYS and generated a book value of  $2.85 (USD)
By multiplying these we get an adjusted valuation of  $219.82 (USD)

Analyst Data

In the Stockcalc database there are 3 analysts that provide a valuation for BURL:NYS. The 3 analysts have a concensus valuation for BURL:NYS for 2020 of $166.67 (USD).

BURL:NYS Burlington Stores

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 0 1 3.2500 Hold 2019-3-19

Current Price: 149.05 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 6.24 7.07 7.95
# EPS Analysts 4 4 3
Mean Revenue 6,700.70 7,245.30 7,860.10
# Revenue Analysts 4 4 3
Mean Target Price 166.67
Mean Cash Flow 10.14 11.10 11.96
Mean EBITDA 786.50 863.40 946.50
Mean Net Income 441.20 480.10 531.40
Mean Debt Outstanding 896.20 747.80 587.00
Mean Tax Rate 18.30 21.40 22.00
Mean Growth Rate 17.59
Mean Capital Expenditure 274.70 297.90 297.10

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.


Express (EXPR:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Express(EXPR:NYS)

Consumer Cyclical:Apparel Stores

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

Close Price/Date
$4.19 (USD) 19/03/2019

Weighted Valuation
$8.70 (USD)

Overall Rating
Undervalued by 107.6%

Valuation Models Analyst Consensus: $10.00 (USD)
(in order of importance) Comparables: $6.92 (USD)
Multiples: $8.35 (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 (EXPR:NYS USD)

Price 4.19
Range 4.19 – 4.37
52 week 4.19 – 11.59
Open 4.31
Vol / Avg. 2.55M/2.29M
Mkt cap 287.13M
P/E 32.23
Div/yield 0.00/0.00
EPS 0.13
Shares 68.53M
Beta 1.11

Company Description

Express, Inc. is a specialty apparel retailer targeting men and women between 20 and 30 years old. The company operates around hundreds of stores in North America and has franchisees in Latin America, the Middle East, and South Africa. It also sells through its e-commerce website and its mobile app. Most apparel is designed in-house and manufactured by third parties located primarily in Asia and South and Central America. The company uses third-party distribution centers in Ohio and Kentucky to receive and distribute most products. Express leases all of its retail stores, most of which are located in shopping malls.

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 EXPR:NYS

Using a discounted cash flow model we generated an intrinsic value of $17.94 (USD) for EXPR:NYS

Sensitivity Analysis

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

EXPR:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $17.94 1% 5% 1% 5%
WACC (or Ke) 10.82 $20.60 $15.89
Terminal Growth Rate 3.00 $16.16 $20.24
Tax Rate 0.27 $19.21 $16.68
Cash Flow 150,019,692 $17.02 $18.87
Capital Expenditures 0 $17.94 $17.94
Long Term Debt 0 $17.94 $17.94

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $6.92 (USD) for EXPR:NYS. We also generated a valuation of $8.88 (USD) using other metrics and comparables.
The comparable companies were Buckle (BKE:NYS), Boot Barn Holdings (BOOT:NYS), Cato (CATO:NYS), Chico’s FAS (CHS:NYS) and Duluth Holdings (DLTH:NAS).

Company EXPR:NYS End Date Value
Earnings/Share $0.13 (USD)
Book Value/Share $8.92 (USD)
Sales/Share $28.54 (USD)
Cash Flow/Share $1.17 (USD)
EBITDA/Share $1.56 (USD)
Price Based on Comps Adjustment Factor (%)
$2.57 (USD) -32.1
$17.30 (USD) 22.3
$0.00 (USD) -51.1
$12.37 (USD) -40.5
$9.18 (USD) -32.7
EXPR:NYS Ratios Used Average Values BKE:NYS BOOT:NYS CATO:NYS CHS:NYS DLTH:NAS
10.40 PE Ratio 19.77 9.69 22.09 20.44 9.27 37.35
0.58 PB Ratio 2.74 2.28 3.17 1.19 1.12 5.94
0.18 PS Ratio 0.89 1.03 1.09 0.46 0.33 1.54
4.43 PCF Ratio 10.53 8.49 12.97 7.47 3.80 19.89
1.36 EV to EBITDA 8.65 4.53 12.11 3.86 3.03 19.74

Multiples

Using a multiples approach we generated a valuation of  $8.35 (USD) for EXPR:NYS

Company EXPR:NYS End Date Value
Earnings/Share $0.13 (USD)
Book Value/Share $8.92 (USD)
Sales/Share $28.54 (USD)
Cash Flow/Share $1.17 (USD)
EBITDA/Share $1.56 (USD)
Price Based on Comps Adjustment Factor
$2.00 (USD) 0
$14.27 (USD) 0
$12.36 (USD) 0
$7.03 (USD) 0
$6.08 (USD) 0
Ratios Ratio Average
PE Ratio 15.37
PB Ratio 1.60
PS Ratio 0.43
PCF Ratio 5.98
EV to EBITDA 3.90

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  EXPR:NYS for the last 8 years was  1.66

We ran the Adjusted Book Value for  EXPR:NYS and generated a book value of  $8.25 (USD)
By multiplying these we get an adjusted valuation of  $13.68 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for EXPR:NYS. The 1 analysts have a concensus valuation for EXPR:NYS for 2020 of $10.00 (USD).

EXPR:NYS Express

No analyst recommendation
Current Price: not available

No analyst consensus

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.


Gap (GPS:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Gap(GPS:NYS)

Consumer Cyclical:Apparel Stores

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

Close Price/Date
$25.70 (USD) 19/03/2019

Weighted Valuation
$29.17 (USD)

Overall Rating
Undervalued by 13.5%

Valuation Models Analyst Consensus: $29.17 (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 (GPS:NYS USD)

Price 25.70
Range 25.48 – 25.88
52 week 24.60 – 33.75
Open 25.59
Vol / Avg. 4.82M/8.48M
Mkt cap 9.71B
P/E 9.92
Div/yield 0.97/0.04
EPS 2.59
Shares 378M
Beta 0.53

Company Description

Gap is a global apparel and accessories retailer for men, women, and children operating under the brand names of Gap, Banana Republic, Old Navy, Athleta, and Intermix. Distribution channels include about 3,220 specialty and outlet stores, online, and franchises. About 80% of revenue is generated in the United States, and just under 80% of revenue comes from the Gap and Old Navy 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 GPS:NYS

Using a discounted cash flow model we generated an intrinsic value of $42.19 (USD) for GPS:NYS

Sensitivity Analysis

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

GPS:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $42.19 1% 5% 1% 5%
WACC (or Ke) 6.49 $54.12 $34.25
Terminal Growth Rate 1.50 $34.97 $53.02
Tax Rate 0.24 $45.70 $38.68
Cash Flow 1,861,205,500 $38.59 $45.79
Capital Expenditures -642,600,000 $41.04 $43.34
Long Term Debt 1,745,000,000 $42.42 $41.96

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $43.18 (USD) for GPS:NYS. We also generated a valuation of $51.91 (USD) using other metrics and comparables.
The comparable companies were American Eagle Outfitters (AEO:NYS), L Brands (LB:NYS), Lululemon Athletica (LULU:NAS), Ross Stores (ROST:NAS) and Urban Outfitters (URBN:NAS).

Company GPS:NYS End Date Value
Earnings/Share $2.59 (USD)
Book Value/Share $9.40 (USD)
Sales/Share $42.73 (USD)
Cash Flow/Share $3.56 (USD)
EBITDA/Share $5.09 (USD)
Price Based on Comps Adjustment Factor (%)
$59.77 (USD) -53.1
$70.80 (USD) 7.8
$50.28 (USD) -31.6
$46.86 (USD) -29.3
$62.59 (USD) -29.6
GPS:NYS Ratios Used Average Values AEO:NYS LB:NYS LULU:NAS ROST:NAS URBN:NAS
9.81 PE Ratio 23.08 13.08 11.32 52.78 22.31 15.90
2.70 PB Ratio 7.53 2.72 0.00 14.16 11.03 2.23
0.59 PS Ratio 2.27 0.91 0.55 6.65 2.38 0.87
7.14 PCF Ratio 14.07 8.10 5.69 30.05 18.11 8.40
5.05 EV to EBITDA 12.31 6.01 10.24 25.69 13.98 5.63

Multiples

Using a multiples approach we generated a valuation of  $30.84 (USD) for GPS:NYS

Company GPS:NYS End Date Value
Earnings/Share $2.59 (USD)
Book Value/Share $9.40 (USD)
Sales/Share $42.73 (USD)
Cash Flow/Share $3.56 (USD)
EBITDA/Share $5.09 (USD)
Price Based on Comps Adjustment Factor
$34.72 (USD) 0
$35.98 (USD) 0
$29.76 (USD) 0
$26.40 (USD) 0
$27.36 (USD) 0
Ratios Ratio Average
PE Ratio 13.40
PB Ratio 3.83
PS Ratio 0.70
PCF Ratio 7.42
EV to EBITDA 5.38

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  GPS:NYS for the last 10 years was  3.81

We ran the Adjusted Book Value for  GPS:NYS and generated a book value of  $9.40 (USD)
By multiplying these we get an adjusted valuation of  $35.80 (USD)

Analyst Data

In the Stockcalc database there are 3 analysts that provide a valuation for GPS:NYS. The 3 analysts have a concensus valuation for GPS:NYS for 2020 of $29.17 (USD).

GPS:NYS Gap

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 4 0 3.2000 Hold 2019-3-18

Current Price: 25.7 USD

Analyst Consensus
USD Millions 2020 2021 2022
Mean EPS 2.55 2.53 2.54
# EPS Analysts 4 3 1
Mean Revenue 16,981.50 17,060.90 16,926.80
# Revenue Analysts 3 2 1
Mean Target Price 29.17
Mean Cash Flow 4.24 4.33 4.43
Mean EBITDA 1,939.30 1,903.60 1,833.70
Mean Net Income 978.20 942.10 920.70
Mean Debt Outstanding -352.80 -399.10 30.90
Mean Tax Rate
Mean Growth Rate 7.49
Mean Capital Expenditure 766.50 827.10 846.30

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.


HD Supply Holdings (HDS:NAS) Fundamental Valuation Report


Fundamental Valuation Report

HD Supply Holdings(HDS:NAS)

Industrials:Industrial Distribution

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

Close Price/Date
$41.45 (USD) 19/03/2019

Weighted Valuation
$42.15 (USD)

Overall Rating
Fairly valued to slightly Undervalued by 1.7%

Valuation Models Analyst Consensus: $46.00 (USD)
(in order of importance) Discounted Cash Flow: $35.00 (USD)
Comparables: $44.88 (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 (HDS:NAS USD)

Price 41.45
Range 41.10 – 44.00
52 week 35.62 – 45.94
Open 43.49
Vol / Avg. 4.42M/1.57M
Mkt cap 7.08B
P/E 26.74
Div/yield 0.00/0.00
EPS 2.17
Shares 170.7M
Beta 1.25

Company Description

Through a combination of acquisitions and organic growth, HD Supply has become one of the largest industrial distributors in North America. It is the market leader in the two sectors in which it operates (facilities and home improvement maintenance, repair, and operations and specialty construction). Today, HD Supply offers 600,000 stock-keeping units and serves 500,000 customers through 220 branches across the United States and 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 HDS:NAS

Using a discounted cash flow model we generated an intrinsic value of $35.00 (USD) for HDS:NAS

Sensitivity Analysis

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

HDS:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $35.00 1% 5% 1% 5%
WACC (or Ke) 8.54 $48.38 $25.71
Terminal Growth Rate 3.00 $26.51 $47.23
Tax Rate 0.26 $40.19 $29.81
Cash Flow 1,071,511,057 $31.17 $38.84
Capital Expenditures 8,400,000 $35.03 $34.97
Long Term Debt 4,308,000,000 $36.26 $33.74

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $44.88 (USD) for HDS:NAS. We also generated a valuation of $41.03 (USD) using other metrics and comparables.
The comparable companies were Applied Industrial Tech (AIT:NYS), Anixter International (AXE:NYS), Fastenal (FAST:NAS), W.W. Grainger (GWW:NYS) and MSC Industrial Direct Co (MSM:NYS).

Company HDS:NAS End Date Value
Earnings/Share $2.17 (USD)
Book Value/Share $9.37 (USD)
Sales/Share $31.33 (USD)
Cash Flow/Share $3.04 (USD)
EBITDA/Share $4.19 (USD)
Price Based on Comps Adjustment Factor (%)
$37.67 (USD) 96.3
$44.68 (USD) 0.0
$47.25 (USD) -21.9
$39.18 (USD) -37.4
$48.75 (USD) 0.0
HDS:NAS Ratios Used Average Values AIT:NYS AXE:NYS FAST:NAS GWW:NYS MSM:NYS
27.75 PE Ratio 17.36 13.88 12.81 24.02 22.20 13.88
4.59 PB Ratio 4.77 2.53 1.25 7.82 8.83 3.39
1.37 PS Ratio 1.51 0.67 0.24 3.64 1.54 1.46
14.15 PCF Ratio 16.77 11.92 14.53 26.81 16.30 14.27
12.69 EV to EBITDA 11.64 9.86 8.51 16.12 13.08 10.62

Multiples

Using a multiples approach we generated a valuation of  $43.36 (USD) for HDS:NAS

Company HDS:NAS End Date Value
Earnings/Share $2.17 (USD)
Book Value/Share $9.37 (USD)
Sales/Share $31.33 (USD)
Cash Flow/Share $3.04 (USD)
EBITDA/Share $4.19 (USD)
Price Based on Comps Adjustment Factor
$38.29 (USD) 0
$56.51 (USD) 0
$29.10 (USD) 0
$46.50 (USD) 0
$46.38 (USD) 0
Ratios Ratio Average
PE Ratio 17.65
PB Ratio 6.03
PS Ratio 0.93
PCF Ratio 15.30
EV to EBITDA 11.07

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  HDS:NAS for the last 2 years was  5.97

We ran the Adjusted Book Value for  HDS:NAS and generated a book value of  $7.50 (USD)
By multiplying these we get an adjusted valuation of  $44.83 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for HDS:NAS. The 2 analysts have a concensus valuation for HDS:NAS for 2020 of $46.00 (USD).

HDS:NAS HD Supply Holdings

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 2 0 3.7500 Outperform 2019-3-18

Current Price: 41.45 USD

Analyst Consensus
USD Millions 2020
Mean EPS 3.48
# EPS Analysts 2
Mean Revenue 6,364.10
# Revenue Analysts 1
Mean Target Price 46.00
Mean Cash Flow 3.85
Mean EBITDA 914.00
Mean Net Income 641.60
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate 12.20
Mean Capital Expenditure 127.30

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.


JC Penney Co (JCP:NYS) Fundamental Valuation Report


Fundamental Valuation Report

JC Penney Co(JCP:NYS)

Consumer Cyclical:Department Stores

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

Close Price/Date
$1.70 (USD) 19/03/2019

Weighted Valuation
$0.85 (USD)

Overall Rating
Overvalued by 50.0%

Valuation Models Analyst Consensus: $0.85 (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 (JCP:NYS USD)

Price 1.70
Range 1.67 – 1.71
52 week 0.97 – 3.51
Open 1.70
Vol / Avg. 4.84M/14.22M
Mkt cap 536.18M
P/E 0.00
Div/yield 0.00/0.00
EPS -0.81
Shares 315.4M
Beta 1.09

Company Description

JC Penney is an American omnichannel retailer. JC Penney sells merchandise and services to consumers through department stores and its own website. The product portfolio mainly comprises apparel and footwear, accessories, fine and fashion jewelry, home furnishings, and beauty products (the latter through Sephora inside JC Penney). JC Penney offers private, exclusive, and national brands across the United States and Puerto Rico.

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 JCP:NYS

Using a discounted cash flow model we generated an intrinsic value of $19.94 (USD) for JCP:NYS

Sensitivity Analysis

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

JCP:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $19.94 1% 5% 1% 5%
WACC (or Ke) 7.03 $28.63 $14.14
Terminal Growth Rate 2.00 $14.71 $27.78
Tax Rate 0.06 $21.53 $18.35
Cash Flow 536,416,693 $18.45 $21.44
Capital Expenditures 0 $19.94 $19.94
Long Term Debt 4,725,000,000 $20.69 $19.19

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $4.26 (USD) for JCP:NYS. We also generated a valuation of $5.02 (USD) using other metrics and comparables.
The comparable companies were and Dillard’s (DDS:NYS).

Company JCP:NYS End Date Value
Earnings/Share ($0.81) (USD)
Book Value/Share $3.71 (USD)
Sales/Share $38.07 (USD)
Cash Flow/Share $1.14 (USD)
EBITDA/Share $1.89 (USD)
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 27.4
$4.71 (USD) -50.3
$0.00 (USD) -51.9
($6.09) (USD) -33.7
$0.00 (USD) 0.0
JCP:NYS Ratios Used Average Values DDS:NYS
0.00 PE Ratio 12.61 12.61
0.41 PB Ratio 1.27 1.27
0.04 PS Ratio 0.33 0.33
1.34 PCF Ratio 5.84 5.84
6.97 EV to EBITDA 5.69 5.69

Multiples

Using a multiples approach we generated a valuation of  $7.54 (USD) for JCP:NYS

Company JCP:NYS End Date Value
Earnings/Share ($0.81) (USD)
Book Value/Share $3.71 (USD)
Sales/Share $38.07 (USD)
Cash Flow/Share $1.14 (USD)
EBITDA/Share $1.89 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$4.63 (USD) 0
$6.21 (USD) 0
$5.76 (USD) 0
$13.57 (USD) 0
Ratios Ratio Average
PE Ratio 1716.11
PB Ratio 1.25
PS Ratio 0.16
PCF Ratio 5.07
EV to EBITDA 7.16

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  JCP:NYS for the last 10 years was  1.25

We ran the Adjusted Book Value for  JCP:NYS and generated a book value of  $3.70 (USD)
By multiplying these we get an adjusted valuation of  $4.64 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for JCP:NYS. The 1 analysts have a concensus valuation for JCP:NYS for 2020 of $0.85 (USD).

JCP:NYS JC Penney Co

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 0 2 1.0000 Sell 2019-3-18

Current Price: 1.7 USD

Analyst Consensus
USD Millions 2020 2021
Mean EPS -0.97 -1.08
# EPS Analysts 2 1
Mean Revenue 11,849.80 11,675.60
# Revenue Analysts 1 1
Mean Target Price 0.85
Mean Cash Flow 0.96 0.57
Mean EBITDA 467.30 519.20
Mean Net Income -390.40 -342.50
Mean Debt Outstanding 3,675.20 3,728.10
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 313.50 283.20

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.


Michaels Companies (MIK:NAS) Fundamental Valuation Report


Fundamental Valuation Report

Michaels Companies(MIK:NAS)

Consumer Cyclical:Specialty Retail

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

Close Price/Date
$12.79 (USD) 19/03/2019

Weighted Valuation
$20.00 (USD)

Overall Rating
Undervalued by 56.4%

Valuation Models Analyst Consensus: $20.00 (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 (MIK:NAS USD)

Price 12.79
Range 12.24 – 13.70
52 week 11.68 – 21.93
Open 12.50
Vol / Avg. 13.34M/2.57M
Mkt cap 2.02B
P/E 6.80
Div/yield 0.00/0.00
EPS 1.86
Shares 157.77M
Beta 0.00

Company Description

The Michaels Companies Inc is an arts and crafts specialty retailer in North America. The company provides materials, project ideas, and education for creative activities like crafting classes, store events, store displays, mobile applications, and online videos. The company sells merchandise through two stores: Michaels and Aaron Brothers. Michaels’ revenue segments are general crafts, home decor and seasonal, framing, and papercrafting. Aaron Brothers offers unique framing assortments. The company operates its own distribution network through a wholly owned subsidiary to supply merchandise in the stores.

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 MIK:NAS

Using a discounted cash flow model we generated an intrinsic value of $68.54 (USD) for MIK:NAS

Sensitivity Analysis

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

MIK:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $68.54 1% 5% 1% 5%
WACC (or Ke) 5.53 $90.51 $53.87
Terminal Growth Rate 0.50 $55.19 $88.52
Tax Rate 0.23 $74.60 $62.48
Cash Flow 1,095,256,749 $63.41 $73.67
Capital Expenditures -129,919,800 $67.97 $69.11
Long Term Debt 2,802,087,000 $69.43 $67.65

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $24.64 (USD) for MIK:NAS. We also generated a valuation of $28.31 (USD) using other metrics and comparables.
The comparable companies were Dick’s Sporting Goods (DKS:NYS), Five Below (FIVE:NAS), KAR Auction Services (KAR:NYS), Murphy USA (MUSA:NYS) and RH (RH:NYS).

Company MIK:NAS End Date Value
Earnings/Share $1.86 (USD)
Book Value/Share ($11.34) (USD)
Sales/Share $30.29 (USD)
Cash Flow/Share $2.50 (USD)
EBITDA/Share $4.02 (USD)
Price Based on Comps Adjustment Factor (%)
$49.13 (USD) -59.1
$0.00 (USD) 0.0
$51.93 (USD) -38.8
$23.32 (USD) -60.3
$54.61 (USD) -19.8
MIK:NAS Ratios Used Average Values DKS:NYS FIVE:NAS KAR:NYS MUSA:NYS RH:NYS
7.52 PE Ratio 26.41 11.91 52.79 19.48 12.00 35.89
0.00 PB Ratio 24.80 2.08 12.78 4.28 3.11 101.77
0.47 PS Ratio 1.71 0.46 4.62 1.70 0.18 1.62
5.66 PCF Ratio 15.66 5.05 44.41 8.53 6.43 13.87
6.58 EV to EBITDA 13.59 5.22 30.55 9.58 6.92 15.71

Multiples

Using a multiples approach we generated a valuation of  $27.25 (USD) for MIK:NAS

Company MIK:NAS End Date Value
Earnings/Share $1.86 (USD)
Book Value/Share ($11.34) (USD)
Sales/Share $30.29 (USD)
Cash Flow/Share $2.50 (USD)
EBITDA/Share $4.02 (USD)
Price Based on Comps Adjustment Factor
$24.58 (USD) 0
$0.00 (USD) 0
$27.07 (USD) 0
$21.64 (USD) 0
$35.73 (USD) 0
Ratios Ratio Average
PE Ratio 13.22
PB Ratio 0.00
PS Ratio 0.89
PCF Ratio 8.67
EV to EBITDA 8.89

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  MIK:NAS for the last 0 years was  0.00

We ran the Adjusted Book Value for  MIK:NAS and generated a book value of  ($10.31) (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 MIK:NAS. The 1 analysts have a concensus valuation for MIK:NAS for 2020 of $20.00 (USD).

MIK:NAS Michaels Companies

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 0 0 5.0000 Buy 2019-3-18

Current Price: 12.79 USD

Analyst Consensus
USD Millions 2020
Mean EPS 2.50
# EPS Analysts 1
Mean Revenue 5,287.80
# Revenue Analysts 1
Mean Target Price 20.00
Mean Cash Flow 3.59
Mean EBITDA 836.40
Mean Net Income 395.00
Mean Debt Outstanding 2,300.40
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure 160.00

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.


Nordstrom (JWN:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Nordstrom(JWN:NYS)

Consumer Cyclical:Department Stores

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

Close Price/Date
$44.56 (USD) 19/03/2019

Weighted Valuation
$51.24 (USD)

Overall Rating
Undervalued by 15.0%

Valuation Models Analyst Consensus: $56.00 (USD)
(in order of importance) Adjusted Book Value: $44.10 (USD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Fairly valued on an Asset Valuation

Company Overview (JWN:NYS USD)

Price 44.56
Range 44.01 – 44.95
52 week 43.74 – 67.46
Open 44.39
Vol / Avg. 2.08M/3.19M
Mkt cap 6.91B
P/E 13.42
Div/yield 1.48/0.03
EPS 3.32
Shares 155M
Beta 0.54

Company Description

Nordstrom Inc is a fashion retailer that operates approximately 140 department stores in the U.S. and Canada and approximately 240 outlet stores under the names Nordstrom Rack and Last Chance. The company also operates e-commerce sites and a personalized styling service called Trunk Club. Nordstrom’s largest merchandise categories are women’s apparel (32% of sales) and shoes (23% of sales). Nordstrom, which traces its history to a shoe store opened in Seattle in 1901, continues to be partially owned and managed by members of the Nordstrom family.

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 JWN:NYS

Using a discounted cash flow model we generated an intrinsic value of $167.21 (USD) for JWN:NYS

Sensitivity Analysis

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

JWN:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $167.21 1% 5% 1% 5%
WACC (or Ke) 5.73 $213.22 $136.45
Terminal Growth Rate 0.70 $139.40 $208.80
Tax Rate 0.23 $178.32 $156.10
Cash Flow 1,774,582,628 $158.66 $175.75
Capital Expenditures 0 $167.21 $167.21
Long Term Debt 2,782,000,000 $168.10 $166.31

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $32.82 (USD) for JWN:NYS. We also generated a valuation of $33.50 (USD) using other metrics and comparables.
The comparable companies were Dillard’s (DDS:NYS), Kohl’s (KSS:NYS) and Macy’s (M:NYS).

Company JWN:NYS End Date Value
Earnings/Share $3.32 (USD)
Book Value/Share $7.63 (USD)
Sales/Share $93.29 (USD)
Cash Flow/Share $7.62 (USD)
EBITDA/Share $8.95 (USD)
Price Based on Comps Adjustment Factor (%)
$34.13 (USD) -8.8
$11.45 (USD) 0.0
$37.82 (USD) 56.8
$23.08 (USD) -30.1
$46.90 (USD) 12.7
JWN:NYS Ratios Used Average Values DDS:NYS KSS:NYS M:NYS
14.24 PE Ratio 10.28 12.61 11.27 6.96
6.19 PB Ratio 1.50 1.27 2.05 1.18
0.51 PS Ratio 0.41 0.33 0.58 0.31
6.20 PCF Ratio 5.10 5.84 5.01 4.45
5.98 EV to EBITDA 5.24 5.69 5.76 4.28

Multiples

Using a multiples approach we generated a valuation of  $57.89 (USD) for JWN:NYS

Company JWN:NYS End Date Value
Earnings/Share $3.32 (USD)
Book Value/Share $7.63 (USD)
Sales/Share $93.29 (USD)
Cash Flow/Share $7.62 (USD)
EBITDA/Share $8.95 (USD)
Price Based on Comps Adjustment Factor
$65.21 (USD) 0
$62.32 (USD) 0
$55.74 (USD) 0
$43.72 (USD) 0
$62.47 (USD) 0
Ratios Ratio Average
PE Ratio 19.64
PB Ratio 8.16
PS Ratio 0.60
PCF Ratio 5.74
EV to EBITDA 6.98

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  JWN:NYS for the last 10 years was  7.96

We ran the Adjusted Book Value for  JWN:NYS and generated a book value of  $5.54 (USD)
By multiplying these we get an adjusted valuation of  $44.10 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for JWN:NYS. The 2 analysts have a concensus valuation for JWN:NYS for 2020 of $56.00 (USD).

JWN:NYS Nordstrom

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 2 0 3.7500 Outperform 2019-3-18

Current Price: 44.56 USD

Analyst Consensus
USD Millions 2020 2021
Mean EPS 3.76 4.10
# EPS Analysts 4 3
Mean Revenue 16,311.60 16,748.70
# Revenue Analysts 3 2
Mean Target Price 56.00
Mean Cash Flow 8.30 8.79
Mean EBITDA 1,651.10 1,739.80
Mean Net Income 624.90 682.90
Mean Debt Outstanding 1,556.10 1,419.30
Mean Tax Rate
Mean Growth Rate 15.17
Mean Capital Expenditure 794.20 645.70

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.


Workday (WDAY:NAS) Fundamental Valuation Report


Fundamental Valuation Report

Workday(WDAY:NAS)

Technology:Software-Application

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

Close Price/Date
$191.53 (USD) 19/03/2019

Weighted Valuation
$174.90 (USD)

Overall Rating
Overvalued by 8.7%

Valuation Models Analyst Consensus: $198.67 (USD)
(in order of importance) Comparables: $149.63 (USD)
Multiples: $154.13 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Overvalued on an Asset Valuation

Company Overview (WDAY:NAS USD)

Price 191.53
Range 186.81 – 192.08
52 week 117.72 – 197.93
Open 188.61
Vol / Avg. 2.23M/2.28M
Mkt cap 42.52B
P/E 0.00
Div/yield 0.00/0.00
EPS -1.93
Shares 222M
Beta 1.82

Company Description

Workday Inc is a software-as-a-service provider that offers enterprise resource planning software for medium and large enterprises. The firm’s roots are in ERP software vendor PeopleSoft, which was founded by Workday cofounder David Duffield, while fellow Workday cofounder Aneel Bhusri served as vice chairman at PeopleSoft. The company’s product portfolio is centered on human capital and financial management software, though it continues to add new applications to the product set. Just over 75% of the firm’s revenue comes from the U.S.

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 WDAY:NAS

Using a discounted cash flow model we generated an intrinsic value of $34.43 (USD) for WDAY:NAS

Sensitivity Analysis

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

WDAY:NAS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $34.43 1% 5% 1% 5%
WACC (or Ke) 15.79 $37.48 $31.83
Terminal Growth Rate 3.00 $32.37 $36.84
Tax Rate 0.01 $36.02 $32.86
Cash Flow 1,055,546,766 $32.84 $36.02
Capital Expenditures -47,462,600 $34.38 $34.49
Long Term Debt 0 $34.43 $34.43

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $107.80 (USD) for WDAY:NAS. We also generated a valuation of $149.63 (USD) using other metrics and comparables.
The comparable companies were Adobe (ADBE:NAS), Autodesk (ADSK:NAS), Akamai Technologies (AKAM:NAS), Ansys (ANSS:NAS) and Cadence Design Systems (CDNS:NAS).

Company WDAY:NAS End Date Value
Earnings/Share ($1.93) (USD)
Book Value/Share $8.82 (USD)
Sales/Share $13.02 (USD)
Cash Flow/Share $2.80 (USD)
EBITDA/Share ($0.76) (USD)
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 0.0
$77.94 (USD) 0.0
$135.39 (USD) 0.0
$104.51 (USD) 0.0
$0.00 (USD) 0.0
WDAY:NAS Ratios Used Average Values ADBE:NAS ADSK:NAS AKAM:NAS ANSS:NAS CDNS:NAS
0.00 PE Ratio 43.23 50.48 0.00 39.58 36.32 46.54
22.44 PB Ratio 8.83 13.71 0.00 3.56 5.60 12.46
15.20 PS Ratio 10.40 14.47 13.89 4.34 11.77 7.53
70.73 PCF Ratio 39.33 32.43 94.62 11.69 31.31 26.62
0.00 EV to EBITDA 87.83 40.03 328.59 13.45 26.26 30.80

Multiples

Using a multiples approach we generated a valuation of  $154.13 (USD) for WDAY:NAS

Company WDAY:NAS End Date Value
Earnings/Share ($1.93) (USD)
Book Value/Share $8.82 (USD)
Sales/Share $13.02 (USD)
Cash Flow/Share $2.80 (USD)
EBITDA/Share ($0.76) (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$131.50 (USD) 0
$165.74 (USD) 0
$165.14 (USD) 0
$0.00 (USD) 0
Ratios Ratio Average
PE Ratio 0.00
PB Ratio 14.91
PS Ratio 12.73
PCF Ratio 59.01
EV to EBITDA 0.00

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  WDAY:NAS for the last 6 years was  14.98

We ran the Adjusted Book Value for  WDAY:NAS and generated a book value of  $8.82 (USD)
By multiplying these we get an adjusted valuation of  $132.18 (USD)

Analyst Data

In the Stockcalc database there are 9 analysts that provide a valuation for WDAY:NAS. The 9 analysts have a concensus valuation for WDAY:NAS for 2020 of $198.67 (USD).

WDAY:NAS Workday

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
5 1 2 3.6000 Outperform 2019-3-18

Current Price: 191.53 USD

Analyst Consensus
USD Millions 2020 2021 2022
Mean EPS 1.64 2.18 2.99
# EPS Analysts 10 10 3
Mean Revenue 3,553.80 4,338.30 5,259.40
# Revenue Analysts 9 9 3
Mean Target Price 198.67
Mean Cash Flow 2.79 3.80 4.63
Mean EBITDA 261.60 429.20 409.50
Mean Net Income 404.00 537.40 669.50
Mean Debt Outstanding -553.30 -946.30 -1,857.90
Mean Tax Rate 17.00 17.00
Mean Growth Rate 29.23
Mean Capital Expenditure 300.90 366.40 492.70

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.


Chico’s FAS (CHS:NYS) Fundamental Valuation Report


Fundamental Valuation Report

Chico’s FAS(CHS:NYS)

Consumer Cyclical:Apparel Stores

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

Close Price/Date
$4.59 (USD) 19/03/2019

Weighted Valuation
$9.00 (USD)

Overall Rating
Undervalued by 96.1%

Valuation Models Analyst Consensus: $9.00 (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: Undervalued on an Asset Valuation

Company Overview (CHS:NYS USD)

Price 4.59
Range 4.59 – 4.74
52 week 4.59 – 10.82
Open 4.62
Vol / Avg. 3.08M/3.98M
Mkt cap 577.12M
P/E 16.39
Div/yield 0.34/0.07
EPS 0.28
Shares 125.73M
Beta 0.41

Company Description

Chico’s FAS Inc is an apparel retailer with a portfolio of private-label brands that sell women’s clothing and accessories. Brands include Chico’s, White House/Black Market, Soma Intimates, and Boston Proper. The brands generally target women over 35 years old with moderate to high income levels. The company sells direct to consumer through its retail stores, websites, and telephone call centers. All stores are leased and in North America. The company sources most of its product from foreign manufacturers and distributes all products from its distribution center in Georgia.

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 CHS:NYS

Using a discounted cash flow model we generated an intrinsic value of $12.10 (USD) for CHS:NYS

Sensitivity Analysis

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

CHS:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $12.10 1% 5% 1% 5%
WACC (or Ke) 8.28 $15.18 $10.00
Terminal Growth Rate 3.00 $10.18 $14.92
Tax Rate 0.18 $12.98 $11.22
Cash Flow 177,289,672 $11.10 $13.10
Capital Expenditures -67,798,800 $11.75 $12.45
Long Term Debt 87,252,000 $12.13 $12.06

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

Comparables Model

Using similar companies and price based ratios we generated a valuation of $10.99 (USD) for CHS:NYS. We also generated a valuation of $11.97 (USD) using other metrics and comparables.
The comparable companies were Abercrombie & Fitch (ANF:NYS), Buckle (BKE:NYS), Boot Barn Holdings (BOOT:NYS), Duluth Holdings (DLTH:NAS) and DSW (DSW:NYS).

Company CHS:NYS End Date Value
Earnings/Share $0.28 (USD)
Book Value/Share $5.19 (USD)
Sales/Share $17.65 (USD)
Cash Flow/Share $1.54 (USD)
EBITDA/Share $1.10 (USD)
Price Based on Comps Adjustment Factor (%)
$9.20 (USD) 0.0
$15.80 (USD) -39.9
$17.16 (USD) -29.0
$17.34 (USD) -19.7
$11.08 (USD) -7.6
CHS:NYS Ratios Used Average Values ANF:NYS BKE:NYS BOOT:NYS DLTH:NAS DSW:NYS
9.27 PE Ratio 32.84 29.27 9.69 22.09 37.35 65.80
1.12 PB Ratio 3.04 1.29 2.28 3.17 5.94 2.52
0.33 PS Ratio 0.97 0.42 1.03 1.09 1.54 0.79
3.80 PCF Ratio 11.60 4.57 8.49 12.97 19.89 12.07
3.03 EV to EBITDA 10.07 3.69 4.53 12.11 19.74 10.28

Multiples

Using a multiples approach we generated a valuation of  $10.13 (USD) for CHS:NYS

Company CHS:NYS End Date Value
Earnings/Share $0.28 (USD)
Book Value/Share $5.19 (USD)
Sales/Share $17.65 (USD)
Cash Flow/Share $1.54 (USD)
EBITDA/Share $1.10 (USD)
Price Based on Comps Adjustment Factor
$8.07 (USD) 0
$12.07 (USD) 0
$10.67 (USD) 0
$11.73 (USD) 0
$8.12 (USD) 0
Ratios Ratio Average
PE Ratio 28.81
PB Ratio 2.32
PS Ratio 0.60
PCF Ratio 7.64
EV to EBITDA 7.38

Adjusted Book Value versus Historical Price to Book

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

We ran the Adjusted Book Value for  CHS:NYS and generated a book value of  $4.96 (USD)
By multiplying these we get an adjusted valuation of  $11.45 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for CHS:NYS. The 1 analysts have a concensus valuation for CHS:NYS for 2020 of $9.00 (USD).

CHS:NYS Chico’s FAS

No analyst recommendation
Current Price: not available

No analyst consensus

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.