Intrinsic value of Aveda Transportation and Energy Services - AVE

Previous Close

$0.51

  Intrinsic Value

$0.10

stock screener

  Rating & Target

str. sell

-80%

  Value-price divergence*

0%

Previous close

$0.51

 
Intrinsic value

$0.10

 
Up/down potential

-80%

 
Rating

str. sell

 
Value-price divergence*

0%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AVE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -27.72
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  73
  117
  180
  270
  392
  552
  759
  1,019
  1,339
  1,722
  2,176
  2,702
  3,303
  3,981
  4,737
  5,570
  6,479
  7,463
  8,521
  9,650
  10,850
  12,118
  13,453
  14,854
  16,321
  17,853
  19,451
  21,115
  22,846
  24,645
  26,516
Variable operating expenses, $m
 
  160
  247
  370
  536
  757
  1,041
  1,397
  1,834
  2,360
  2,981
  3,701
  4,525
  5,454
  6,490
  7,631
  8,876
  10,225
  11,674
  13,221
  14,864
  16,601
  18,431
  20,350
  22,360
  24,459
  26,648
  28,927
  31,298
  33,764
  36,327
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  99
  160
  247
  370
  536
  757
  1,041
  1,397
  1,834
  2,360
  2,981
  3,701
  4,525
  5,454
  6,490
  7,631
  8,876
  10,225
  11,674
  13,221
  14,864
  16,601
  18,431
  20,350
  22,360
  24,459
  26,648
  28,927
  31,298
  33,764
  36,327
Operating income, $m
  -25
  -43
  -67
  -100
  -145
  -204
  -281
  -377
  -495
  -637
  -805
  -1,000
  -1,222
  -1,473
  -1,753
  -2,061
  -2,397
  -2,761
  -3,153
  -3,571
  -4,014
  -4,484
  -4,978
  -5,496
  -6,039
  -6,606
  -7,197
  -7,812
  -8,453
  -9,119
  -9,811
EBITDA, $m
  -7
  -14
  -22
  -33
  -48
  -68
  -93
  -125
  -164
  -211
  -267
  -331
  -405
  -488
  -581
  -683
  -794
  -915
  -1,044
  -1,183
  -1,330
  -1,485
  -1,649
  -1,821
  -2,001
  -2,188
  -2,384
  -2,588
  -2,800
  -3,021
  -3,250
Interest expense (income), $m
  6
  7
  11
  18
  28
  41
  58
  80
  108
  142
  182
  231
  287
  351
  423
  504
  592
  689
  794
  907
  1,027
  1,155
  1,290
  1,432
  1,581
  1,737
  1,901
  2,071
  2,248
  2,432
  2,624
Earnings before tax, $m
  -32
  -50
  -78
  -118
  -173
  -245
  -339
  -457
  -603
  -779
  -987
  -1,230
  -1,509
  -1,824
  -2,176
  -2,564
  -2,989
  -3,450
  -3,947
  -4,477
  -5,041
  -5,638
  -6,267
  -6,928
  -7,620
  -8,343
  -9,097
  -9,883
  -10,701
  -11,551
  -12,435
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -32
  -50
  -78
  -118
  -173
  -245
  -339
  -457
  -603
  -779
  -987
  -1,230
  -1,509
  -1,824
  -2,176
  -2,564
  -2,989
  -3,450
  -3,947
  -4,477
  -5,041
  -5,638
  -6,267
  -6,928
  -7,620
  -8,343
  -9,097
  -9,883
  -10,701
  -11,551
  -12,435

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  131
  210
  324
  485
  703
  992
  1,364
  1,830
  2,403
  3,092
  3,906
  4,850
  5,930
  7,148
  8,504
  9,999
  11,632
  13,399
  15,298
  17,326
  19,479
  21,756
  24,153
  26,668
  29,302
  32,052
  34,921
  37,908
  41,015
  44,247
  47,605
Adjusted assets (=assets-cash), $m
  131
  210
  324
  485
  703
  992
  1,364
  1,830
  2,403
  3,092
  3,906
  4,850
  5,930
  7,148
  8,504
  9,999
  11,632
  13,399
  15,298
  17,326
  19,479
  21,756
  24,153
  26,668
  29,302
  32,052
  34,921
  37,908
  41,015
  44,247
  47,605
Revenue / Adjusted assets
  0.557
  0.557
  0.556
  0.557
  0.558
  0.556
  0.556
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
Average production assets, $m
  112
  179
  277
  414
  601
  847
  1,165
  1,564
  2,053
  2,642
  3,337
  4,144
  5,067
  6,107
  7,266
  8,544
  9,939
  11,449
  13,071
  14,804
  16,644
  18,589
  20,637
  22,786
  25,037
  27,387
  29,837
  32,390
  35,045
  37,806
  40,676
Working capital, $m
  16
  26
  40
  59
  86
  121
  166
  223
  293
  377
  476
  592
  723
  872
  1,037
  1,220
  1,419
  1,634
  1,866
  2,113
  2,376
  2,654
  2,946
  3,253
  3,574
  3,910
  4,260
  4,624
  5,003
  5,397
  5,807
Total debt, $m
  94
  159
  253
  385
  565
  803
  1,110
  1,494
  1,966
  2,534
  3,205
  3,983
  4,872
  5,876
  6,994
  8,226
  9,571
  11,027
  12,591
  14,262
  16,037
  17,913
  19,888
  21,961
  24,131
  26,397
  28,761
  31,222
  33,783
  36,445
  39,213
Total liabilities, $m
  108
  173
  267
  399
  579
  817
  1,124
  1,508
  1,980
  2,548
  3,219
  3,997
  4,886
  5,890
  7,008
  8,240
  9,585
  11,041
  12,605
  14,276
  16,051
  17,927
  19,902
  21,975
  24,145
  26,411
  28,775
  31,236
  33,797
  36,459
  39,227
Total equity, $m
  23
  37
  57
  85
  124
  175
  240
  322
  423
  544
  687
  854
  1,044
  1,258
  1,497
  1,760
  2,047
  2,358
  2,692
  3,049
  3,428
  3,829
  4,251
  4,694
  5,157
  5,641
  6,146
  6,672
  7,219
  7,787
  8,379
Total liabilities and equity, $m
  131
  210
  324
  484
  703
  992
  1,364
  1,830
  2,403
  3,092
  3,906
  4,851
  5,930
  7,148
  8,505
  10,000
  11,632
  13,399
  15,297
  17,325
  19,479
  21,756
  24,153
  26,669
  29,302
  32,052
  34,921
  37,908
  41,016
  44,246
  47,606
Debt-to-equity ratio
  4.087
  4.300
  4.440
  4.520
  4.570
  4.600
  4.620
  4.640
  4.650
  4.660
  4.660
  4.670
  4.670
  4.670
  4.670
  4.670
  4.670
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
  4.680
Adjusted equity ratio
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176
  0.176

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -32
  -50
  -78
  -118
  -173
  -245
  -339
  -457
  -603
  -779
  -987
  -1,230
  -1,509
  -1,824
  -2,176
  -2,564
  -2,989
  -3,450
  -3,947
  -4,477
  -5,041
  -5,638
  -6,267
  -6,928
  -7,620
  -8,343
  -9,097
  -9,883
  -10,701
  -11,551
  -12,435
Depreciation, amort., depletion, $m
  18
  29
  45
  67
  97
  137
  188
  252
  331
  426
  538
  668
  817
  985
  1,172
  1,378
  1,603
  1,847
  2,108
  2,388
  2,684
  2,998
  3,329
  3,675
  4,038
  4,417
  4,812
  5,224
  5,652
  6,098
  6,561
Funds from operations, $m
  -35
  -21
  -34
  -51
  -76
  -108
  -151
  -205
  -272
  -353
  -449
  -562
  -692
  -839
  -1,004
  -1,186
  -1,386
  -1,604
  -1,838
  -2,090
  -2,357
  -2,640
  -2,939
  -3,253
  -3,582
  -3,926
  -4,285
  -4,659
  -5,048
  -5,453
  -5,874
Change in working capital, $m
  -14
  10
  14
  20
  27
  35
  45
  57
  70
  84
  99
  115
  132
  149
  165
  182
  199
  216
  232
  247
  263
  278
  292
  307
  321
  336
  350
  364
  379
  394
  410
Cash from operations, $m
  -21
  -31
  -47
  -71
  -102
  -144
  -196
  -262
  -342
  -437
  -548
  -677
  -823
  -987
  -1,169
  -1,369
  -1,586
  -1,819
  -2,070
  -2,337
  -2,620
  -2,918
  -3,231
  -3,560
  -3,903
  -4,261
  -4,635
  -5,023
  -5,427
  -5,848
  -6,284
Maintenance CAPEX, $m
  0
  -18
  -29
  -45
  -67
  -97
  -137
  -188
  -252
  -331
  -426
  -538
  -668
  -817
  -985
  -1,172
  -1,378
  -1,603
  -1,847
  -2,108
  -2,388
  -2,684
  -2,998
  -3,329
  -3,675
  -4,038
  -4,417
  -4,812
  -5,224
  -5,652
  -6,098
New CAPEX, $m
  -4
  -67
  -98
  -137
  -187
  -247
  -318
  -399
  -490
  -589
  -695
  -807
  -923
  -1,040
  -1,159
  -1,278
  -1,395
  -1,510
  -1,623
  -1,733
  -1,840
  -1,945
  -2,048
  -2,150
  -2,250
  -2,350
  -2,451
  -2,552
  -2,655
  -2,761
  -2,870
Cash from investing activities, $m
  -1
  -85
  -127
  -182
  -254
  -344
  -455
  -587
  -742
  -920
  -1,121
  -1,345
  -1,591
  -1,857
  -2,144
  -2,450
  -2,773
  -3,113
  -3,470
  -3,841
  -4,228
  -4,629
  -5,046
  -5,479
  -5,925
  -6,388
  -6,868
  -7,364
  -7,879
  -8,413
  -8,968
Free cash flow, $m
  -22
  -116
  -174
  -253
  -356
  -487
  -651
  -848
  -1,083
  -1,357
  -1,670
  -2,022
  -2,414
  -2,845
  -3,313
  -3,818
  -4,358
  -4,932
  -5,539
  -6,178
  -6,847
  -7,547
  -8,277
  -9,038
  -9,828
  -10,650
  -11,503
  -12,388
  -13,307
  -14,261
  -15,252
Issuance/(repayment) of debt, $m
  22
  65
  94
  132
  180
  238
  306
  385
  472
  568
  670
  778
  890
  1,003
  1,118
  1,232
  1,345
  1,456
  1,565
  1,671
  1,774
  1,876
  1,975
  2,073
  2,170
  2,266
  2,363
  2,461
  2,561
  2,663
  2,767
Issuance/(repurchase) of shares, $m
  0
  64
  98
  146
  211
  296
  404
  539
  704
  900
  1,131
  1,397
  1,699
  2,038
  2,414
  2,827
  3,277
  3,761
  4,281
  4,834
  5,420
  6,039
  6,689
  7,371
  8,083
  8,827
  9,602
  10,409
  11,248
  12,120
  13,026
Cash from financing (excl. dividends), $m  
  22
  129
  192
  278
  391
  534
  710
  924
  1,176
  1,468
  1,801
  2,175
  2,589
  3,041
  3,532
  4,059
  4,622
  5,217
  5,846
  6,505
  7,194
  7,915
  8,664
  9,444
  10,253
  11,093
  11,965
  12,870
  13,809
  14,783
  15,793
Total cash flow (excl. dividends), $m
  0
  13
  18
  26
  35
  47
  60
  75
  92
  111
  131
  152
  174
  197
  219
  241
  263
  285
  306
  327
  348
  367
  387
  406
  425
  444
  463
  482
  502
  522
  542
Retained Cash Flow (-), $m
  34
  -64
  -98
  -146
  -211
  -296
  -404
  -539
  -704
  -900
  -1,131
  -1,397
  -1,699
  -2,038
  -2,414
  -2,827
  -3,277
  -3,761
  -4,281
  -4,834
  -5,420
  -6,039
  -6,689
  -7,371
  -8,083
  -8,827
  -9,602
  -10,409
  -11,248
  -12,120
  -13,026
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -51
  -80
  -120
  -176
  -249
  -344
  -464
  -611
  -789
  -999
  -1,244
  -1,525
  -1,842
  -2,196
  -2,586
  -3,013
  -3,476
  -3,974
  -4,507
  -5,073
  -5,672
  -6,302
  -6,965
  -7,658
  -8,383
  -9,139
  -9,927
  -10,746
  -11,598
  -12,484
Discount rate, %
 
  13.30
  13.97
  14.66
  15.40
  16.17
  16.97
  17.82
  18.71
  19.65
  20.63
  21.66
  22.75
  23.88
  25.08
  26.33
  27.65
  29.03
  30.48
  32.01
  33.61
  35.29
  37.05
  38.91
  40.85
  42.89
  45.04
  47.29
  49.65
  52.14
  54.74
PV of cash for distribution, $m
 
  -45
  -61
  -80
  -99
  -118
  -134
  -147
  -155
  -157
  -153
  -144
  -130
  -114
  -96
  -78
  -61
  -46
  -33
  -23
  -15
  -10
  -6
  -4
  -2
  -1
  -1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  31.4
  10.1
  3.4
  1.1
  0.4
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Aveda Transportation and Energy Services Inc. is a Canada-based company engaged in the transportation of products, materials, and equipment required for the exploration, development and production of petroleum resources, including rig moving, heavy haul and hot shot services, and the rental of equipment associated with oilfields operations. The Company carries on its oilfield hauling activities in Canada and the United States under the name, Aveda Transportation and Energy Services; carries on its rental operations under the name, Aveda Rentals, and carries on specialized transportation services under Aveda Heavy Haul. Its rental operations include the rental of tanks, mats, pickers, light towers, well-site shacks and other equipment necessary for oilfield operations. It has presence in the Western Canadian Sedimentary Basin and in the United States, principally in and across the states of Texas, North Dakota, Pennsylvania, Oklahoma and West Virginia.

FINANCIAL RATIOS  of  Aveda Transportation and Energy Services (AVE)

Valuation Ratios
P/E Ratio -0.3
Price to Sales 0.1
Price to Book 0.4
Price to Tangible Book
Price to Cash Flow -0.5
Price to Free Cash Flow -0.4
Growth Rates
Sales Growth Rate -27.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 300%
Cap. Spend. - 3 Yr. Gr. Rate -10.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 408.7%
Total Debt to Equity 408.7%
Interest Coverage -4
Management Effectiveness
Return On Assets -19.3%
Ret/ On Assets - 3 Yr. Avg. -11.1%
Return On Total Capital -26%
Ret/ On T. Cap. - 3 Yr. Avg. -15.1%
Return On Equity -80%
Return On Equity - 3 Yr. Avg. -39.4%
Asset Turnover 0.5
Profitability Ratios
Gross Margin -15.1%
Gross Margin - 3 Yr. Avg. -3.5%
EBITDA Margin -11%
EBITDA Margin - 3 Yr. Avg. -3.5%
Operating Margin -35.6%
Oper. Margin - 3 Yr. Avg. -22.9%
Pre-Tax Margin -43.8%
Pre-Tax Margin - 3 Yr. Avg. -27.7%
Net Profit Margin -43.8%
Net Profit Margin - 3 Yr. Avg. -23.1%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 32.4%
Payout Ratio 0%

AVE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AVE stock intrinsic value calculation we used $73 million for the last fiscal year's total revenue generated by Aveda Transportation and Energy Services. The default revenue input number comes from 2016 income statement of Aveda Transportation and Energy Services. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AVE stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.3%, whose default value for AVE is calculated based on our internal credit rating of Aveda Transportation and Energy Services, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Aveda Transportation and Energy Services.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AVE stock the variable cost ratio is equal to 137%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AVE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.2% for Aveda Transportation and Energy Services.

Corporate tax rate of 27% is the nominal tax rate for Aveda Transportation and Energy Services. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AVE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AVE are equal to 153.4%.

Life of production assets of 6.2 years is the average useful life of capital assets used in Aveda Transportation and Energy Services operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AVE is equal to 21.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $23 million for Aveda Transportation and Energy Services - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.349 million for Aveda Transportation and Energy Services is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Aveda Transportation and Energy Services at the current share price and the inputted number of shares is $0.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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Financial statements of AVE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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