Intrinsic value of ARC Resources Ltd. - ARX

Previous Close

$18.42

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$18.42

 
Intrinsic value

$2.29

 
Up/down potential

-88%

 
Rating

str. sell

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of ARX 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 6.5

 

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, %
  -10.55
  15.50
  14.45
  13.51
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.30
  7.97
  7.67
  7.40
  7.16
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.49
Revenue, $m
  975
  1,126
  1,289
  1,463
  1,648
  1,844
  2,050
  2,267
  2,495
  2,732
  2,980
  3,238
  3,507
  3,786
  4,076
  4,378
  4,692
  5,017
  5,356
  5,708
  6,075
  6,456
  6,853
  7,267
  7,697
  8,147
  8,616
  9,105
  9,616
  10,149
  10,707
Variable operating expenses, $m
 
  1,625
  1,856
  2,103
  2,366
  2,644
  2,938
  3,246
  3,569
  3,906
  4,258
  4,600
  4,981
  5,378
  5,791
  6,219
  6,665
  7,128
  7,609
  8,109
  8,630
  9,171
  9,735
  10,323
  10,935
  11,573
  12,239
  12,934
  13,660
  14,418
  15,210
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
  863
  1,625
  1,856
  2,103
  2,366
  2,644
  2,938
  3,246
  3,569
  3,906
  4,258
  4,600
  4,981
  5,378
  5,791
  6,219
  6,665
  7,128
  7,609
  8,109
  8,630
  9,171
  9,735
  10,323
  10,935
  11,573
  12,239
  12,934
  13,660
  14,418
  15,210
Operating income, $m
  112
  -498
  -567
  -640
  -718
  -800
  -887
  -978
  -1,074
  -1,174
  -1,278
  -1,362
  -1,475
  -1,592
  -1,714
  -1,841
  -1,973
  -2,110
  -2,253
  -2,401
  -2,555
  -2,715
  -2,882
  -3,056
  -3,237
  -3,426
  -3,623
  -3,829
  -4,044
  -4,268
  -4,503
EBITDA, $m
  546
  1
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  9
  9
Interest expense (income), $m
  51
  47
  65
  85
  106
  128
  152
  177
  203
  231
  259
  289
  320
  353
  387
  422
  458
  496
  536
  577
  619
  664
  710
  758
  808
  860
  914
  971
  1,030
  1,092
  1,156
Earnings before tax, $m
  243
  -545
  -632
  -725
  -824
  -929
  -1,039
  -1,155
  -1,277
  -1,404
  -1,537
  -1,651
  -1,795
  -1,945
  -2,101
  -2,263
  -2,431
  -2,606
  -2,788
  -2,977
  -3,174
  -3,379
  -3,592
  -3,814
  -4,045
  -4,286
  -4,537
  -4,800
  -5,074
  -5,360
  -5,659
Tax expense, $m
  42
  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
  201
  -545
  -632
  -725
  -824
  -929
  -1,039
  -1,155
  -1,277
  -1,404
  -1,537
  -1,651
  -1,795
  -1,945
  -2,101
  -2,263
  -2,431
  -2,606
  -2,788
  -2,977
  -3,174
  -3,379
  -3,592
  -3,814
  -4,045
  -4,286
  -4,537
  -4,800
  -5,074
  -5,360
  -5,659

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  672
  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
  5,991
  6,154
  7,043
  7,994
  9,006
  10,076
  11,205
  12,390
  13,632
  14,930
  16,284
  17,694
  19,162
  20,688
  22,275
  23,924
  25,637
  27,418
  29,269
  31,193
  33,195
  35,279
  37,448
  39,708
  42,063
  44,518
  47,080
  49,753
  52,544
  55,460
  58,508
Adjusted assets (=assets-cash), $m
  5,319
  6,154
  7,043
  7,994
  9,006
  10,076
  11,205
  12,390
  13,632
  14,930
  16,284
  17,694
  19,162
  20,688
  22,275
  23,924
  25,637
  27,418
  29,269
  31,193
  33,195
  35,279
  37,448
  39,708
  42,063
  44,518
  47,080
  49,753
  52,544
  55,460
  58,508
Revenue / Adjusted assets
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
Average production assets, $m
  4,684
  5,410
  6,192
  7,028
  7,917
  8,858
  9,851
  10,893
  11,984
  13,125
  14,316
  15,555
  16,846
  18,188
  19,582
  21,032
  22,538
  24,104
  25,731
  27,423
  29,183
  31,015
  32,922
  34,908
  36,979
  39,137
  41,389
  43,739
  46,193
  48,757
  51,436
Working capital, $m
  703
  96
  110
  124
  140
  157
  174
  193
  212
  232
  253
  275
  298
  322
  346
  372
  399
  426
  455
  485
  516
  549
  583
  618
  654
  692
  732
  774
  817
  863
  910
Total debt, $m
  1,026
  1,357
  1,767
  2,205
  2,672
  3,165
  3,685
  4,232
  4,804
  5,403
  6,027
  6,677
  7,354
  8,057
  8,789
  9,549
  10,339
  11,160
  12,013
  12,900
  13,823
  14,784
  15,784
  16,825
  17,911
  19,043
  20,224
  21,456
  22,743
  24,087
  25,492
Total liabilities, $m
  2,506
  2,837
  3,247
  3,685
  4,152
  4,645
  5,165
  5,712
  6,284
  6,883
  7,507
  8,157
  8,834
  9,537
  10,269
  11,029
  11,819
  12,640
  13,493
  14,380
  15,303
  16,264
  17,264
  18,305
  19,391
  20,523
  21,704
  22,936
  24,223
  25,567
  26,972
Total equity, $m
  3,485
  3,317
  3,796
  4,309
  4,854
  5,431
  6,039
  6,678
  7,348
  8,047
  8,777
  9,537
  10,328
  11,151
  12,006
  12,895
  13,818
  14,778
  15,776
  16,813
  17,892
  19,015
  20,185
  21,403
  22,672
  23,995
  25,376
  26,817
  28,321
  29,893
  31,536
Total liabilities and equity, $m
  5,991
  6,154
  7,043
  7,994
  9,006
  10,076
  11,204
  12,390
  13,632
  14,930
  16,284
  17,694
  19,162
  20,688
  22,275
  23,924
  25,637
  27,418
  29,269
  31,193
  33,195
  35,279
  37,449
  39,708
  42,063
  44,518
  47,080
  49,753
  52,544
  55,460
  58,508
Debt-to-equity ratio
  0.294
  0.410
  0.470
  0.510
  0.550
  0.580
  0.610
  0.630
  0.650
  0.670
  0.690
  0.700
  0.710
  0.720
  0.730
  0.740
  0.750
  0.760
  0.760
  0.770
  0.770
  0.780
  0.780
  0.790
  0.790
  0.790
  0.800
  0.800
  0.800
  0.810
  0.810
Adjusted equity ratio
  0.529
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539
  0.539

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  201
  -545
  -632
  -725
  -824
  -929
  -1,039
  -1,155
  -1,277
  -1,404
  -1,537
  -1,651
  -1,795
  -1,945
  -2,101
  -2,263
  -2,431
  -2,606
  -2,788
  -2,977
  -3,174
  -3,379
  -3,592
  -3,814
  -4,045
  -4,286
  -4,537
  -4,800
  -5,074
  -5,360
  -5,659
Depreciation, amort., depletion, $m
  434
  499
  568
  641
  719
  802
  889
  980
  1,076
  1,176
  1,281
  1,365
  1,478
  1,595
  1,718
  1,845
  1,977
  2,114
  2,257
  2,406
  2,560
  2,721
  2,888
  3,062
  3,244
  3,433
  3,631
  3,837
  4,052
  4,277
  4,512
Funds from operations, $m
  628
  -46
  -64
  -84
  -104
  -127
  -150
  -175
  -201
  -228
  -257
  -287
  -318
  -350
  -383
  -418
  -454
  -492
  -531
  -572
  -614
  -658
  -704
  -752
  -801
  -853
  -907
  -963
  -1,022
  -1,083
  -1,147
Change in working capital, $m
  -3
  13
  14
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  30
  31
  32
  34
  35
  37
  38
  40
  42
  43
  45
  47
Cash from operations, $m
  631
  -311
  -78
  -98
  -120
  -143
  -168
  -193
  -220
  -249
  -278
  -309
  -340
  -374
  -408
  -444
  -481
  -520
  -560
  -602
  -645
  -690
  -738
  -787
  -838
  -891
  -947
  -1,005
  -1,065
  -1,129
  -1,195
Maintenance CAPEX, $m
  0
  -411
  -475
  -543
  -616
  -694
  -777
  -864
  -956
  -1,051
  -1,151
  -1,256
  -1,365
  -1,478
  -1,595
  -1,718
  -1,845
  -1,977
  -2,114
  -2,257
  -2,406
  -2,560
  -2,721
  -2,888
  -3,062
  -3,244
  -3,433
  -3,631
  -3,837
  -4,052
  -4,277
New CAPEX, $m
  -591
  -726
  -782
  -836
  -889
  -941
  -992
  -1,042
  -1,092
  -1,141
  -1,190
  -1,240
  -1,290
  -1,342
  -1,395
  -1,450
  -1,506
  -1,565
  -1,627
  -1,692
  -1,760
  -1,832
  -1,907
  -1,987
  -2,070
  -2,159
  -2,252
  -2,350
  -2,454
  -2,564
  -2,679
Cash from investing activities, $m
  -393
  -1,137
  -1,257
  -1,379
  -1,505
  -1,635
  -1,769
  -1,906
  -2,048
  -2,192
  -2,341
  -2,496
  -2,655
  -2,820
  -2,990
  -3,168
  -3,351
  -3,542
  -3,741
  -3,949
  -4,166
  -4,392
  -4,628
  -4,875
  -5,132
  -5,403
  -5,685
  -5,981
  -6,291
  -6,616
  -6,956
Free cash flow, $m
  238
  -1,447
  -1,334
  -1,478
  -1,626
  -1,779
  -1,937
  -2,100
  -2,268
  -2,441
  -2,619
  -2,804
  -2,995
  -3,193
  -3,398
  -3,611
  -3,832
  -4,062
  -4,302
  -4,551
  -4,811
  -5,082
  -5,365
  -5,661
  -5,970
  -6,293
  -6,632
  -6,986
  -7,356
  -7,744
  -8,151
Issuance/(repayment) of debt, $m
  -55
  383
  410
  438
  466
  494
  520
  547
  572
  598
  624
  650
  677
  704
  731
  760
  790
  821
  853
  887
  923
  961
  1,000
  1,042
  1,086
  1,132
  1,181
  1,232
  1,287
  1,344
  1,405
Issuance/(repurchase) of shares, $m
  1
  896
  1,404
  1,552
  1,705
  1,863
  2,025
  2,192
  2,364
  2,542
  2,725
  2,914
  3,110
  3,312
  3,522
  3,740
  3,966
  4,201
  4,446
  4,701
  4,967
  5,245
  5,534
  5,837
  6,154
  6,485
  6,831
  7,194
  7,574
  7,972
  8,388
Cash from financing (excl. dividends), $m  
  -55
  1,279
  1,814
  1,990
  2,171
  2,357
  2,545
  2,739
  2,936
  3,140
  3,349
  3,564
  3,787
  4,016
  4,253
  4,500
  4,756
  5,022
  5,299
  5,588
  5,890
  6,206
  6,534
  6,879
  7,240
  7,617
  8,012
  8,426
  8,861
  9,316
  9,793
Total cash flow (excl. dividends), $m
  183
  -1,065
  -924
  -1,039
  -1,160
  -1,286
  -1,417
  -1,553
  -1,695
  -1,842
  -1,995
  -2,154
  -2,319
  -2,489
  -2,667
  -2,851
  -3,042
  -3,241
  -3,448
  -3,664
  -3,888
  -4,122
  -4,365
  -4,619
  -4,885
  -5,162
  -5,451
  -5,753
  -6,069
  -6,400
  -6,746
Retained Cash Flow (-), $m
  -96
  -452
  -479
  -513
  -545
  -577
  -608
  -639
  -669
  -699
  -730
  -760
  -791
  -823
  -855
  -889
  -924
  -960
  -998
  -1,037
  -1,079
  -1,123
  -1,169
  -1,218
  -1,269
  -1,323
  -1,381
  -1,441
  -1,505
  -1,572
  -1,642
Prev. year cash balance distribution, $m
 
  620
  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
 
  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
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for 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
Current shareholders' claim on cash, %
  100
  85.7
  69.8
  57.3
  47.3
  39.2
  32.7
  27.4
  23.0
  19.4
  16.4
  14.0
  11.9
  10.1
  8.7
  7.4
  6.4
  5.5
  4.7
  4.1
  3.5
  3.0
  2.6
  2.3
  2.0
  1.7
  1.5
  1.3
  1.1
  1.0
  0.8

ARC Resources Ltd., together with its subsidiaries, acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in Western Canada. It has operations in Northeast British Columbia, Northern and South Central Alberta, Southeast Saskatchewan, Pembina, and Manitoba. The company was founded in 1996 and is headquartered in Calgary, Canada.

FINANCIAL RATIOS  of  ARC Resources Ltd. (ARX)

Valuation Ratios
P/E Ratio 32.4
Price to Sales 6.7
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 10.3
Price to Free Cash Flow 162.7
Growth Rates
Sales Growth Rate -10.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 11.9%
Cap. Spend. - 3 Yr. Gr. Rate -8%
Financial Strength
Quick Ratio 13
Current Ratio 0.7
LT Debt to Equity 27.9%
Total Debt to Equity 29.4%
Interest Coverage 6
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 2.1%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 1.8%
Return On Equity 5.8%
Return On Equity - 3 Yr. Avg. 2.3%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 70.4%
Gross Margin - 3 Yr. Avg. 74.3%
EBITDA Margin 74.7%
EBITDA Margin - 3 Yr. Avg. 74.4%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. -2.3%
Pre-Tax Margin 24.9%
Pre-Tax Margin - 3 Yr. Avg. 6.7%
Net Profit Margin 20.6%
Net Profit Margin - 3 Yr. Avg. 3.4%
Effective Tax Rate 17.3%
Eff/ Tax Rate - 3 Yr. Avg. 15.7%
Payout Ratio 63.7%

ARX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARX stock intrinsic value calculation we used $975 million for the last fiscal year's total revenue generated by ARC Resources Ltd.. The default revenue input number comes from 2016 income statement of ARC Resources Ltd.. 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 ARX stock valuation model: a) initial revenue growth rate of 15.5% 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 4.3%, whose default value for ARX is calculated based on our internal credit rating of ARC Resources Ltd., 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 ARC Resources Ltd..
    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 ARX stock the variable cost ratio is equal to 144.6%.

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 ARX 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 4.8% for ARC Resources Ltd..

Corporate tax rate of 27% is the nominal tax rate for ARC Resources Ltd.. 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 ARX 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 ARX are equal to 480.4%.

Life of production assets of 11.4 years is the average useful life of capital assets used in ARC Resources Ltd. 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 ARX is equal to 8.5%. 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 - $3485 million for ARC Resources Ltd. - 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 353.344 million for ARC Resources Ltd. 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 ARC Resources Ltd. at the current share price and the inputted number of shares is $6.5 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
CNQ Canadian Natur 44.12 5.87  str.sell
BIR Birchcliff Ene 7.09 1.62  str.sell
TOU Tourmaline Oil 28.12 6.30  str.sell
MEG MEG Energy Cor 6.20 2.85  str.sell
SPE Spartan Energy 2.42 0.65  str.sell
AAV Advantage Oil 8.73 1.62  str.sell
Stock chart of ARX Financial statements of ARX
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.