Intrinsic value of Acacia Research - Acacia Technologies - ACTG

Previous Close

$4.15

  Intrinsic Value

$1.37

stock screener

  Rating & Target

str. sell

-67%

  Value-price divergence*

+31%

Previous close

$4.15

 
Intrinsic value

$1.37

 
Up/down potential

-67%

 
Rating

str. sell

 
Value-price divergence*

+31%

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

We calculate the intrinsic value of ACTG 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 0.2

 

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, %
  22.40
  22.40
  20.66
  19.09
  17.68
  16.42
  15.27
  14.25
  13.32
  12.49
  11.74
  11.07
  10.46
  9.91
  9.42
  8.98
  8.58
  8.22
  7.90
  7.61
  7.35
  7.12
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
Revenue, $m
  153
  187
  226
  269
  317
  369
  425
  486
  550
  619
  692
  768
  849
  933
  1,021
  1,112
  1,208
  1,307
  1,410
  1,518
  1,629
  1,745
  1,866
  1,991
  2,121
  2,257
  2,398
  2,544
  2,697
  2,857
  3,023
Variable operating expenses, $m
 
  416
  502
  598
  704
  819
  944
  1,079
  1,223
  1,375
  1,537
  1,707
  1,885
  2,072
  2,268
  2,471
  2,683
  2,904
  3,134
  3,372
  3,620
  3,878
  4,145
  4,424
  4,713
  5,014
  5,327
  5,654
  5,993
  6,348
  6,717
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
  190
  416
  502
  598
  704
  819
  944
  1,079
  1,223
  1,375
  1,537
  1,707
  1,885
  2,072
  2,268
  2,471
  2,683
  2,904
  3,134
  3,372
  3,620
  3,878
  4,145
  4,424
  4,713
  5,014
  5,327
  5,654
  5,993
  6,348
  6,717
Operating income, $m
  -37
  -229
  -276
  -329
  -387
  -451
  -519
  -593
  -672
  -756
  -845
  -939
  -1,037
  -1,140
  -1,247
  -1,359
  -1,476
  -1,597
  -1,723
  -1,854
  -1,991
  -2,132
  -2,280
  -2,433
  -2,592
  -2,757
  -2,930
  -3,109
  -3,296
  -3,491
  -3,694
EBITDA, $m
  -3
  -198
  -239
  -285
  -335
  -390
  -450
  -514
  -582
  -655
  -732
  -813
  -898
  -987
  -1,080
  -1,177
  -1,278
  -1,384
  -1,493
  -1,607
  -1,725
  -1,847
  -1,975
  -2,107
  -2,245
  -2,389
  -2,538
  -2,693
  -2,855
  -3,024
  -3,200
Interest expense (income), $m
  0
  0
  0
  0
  1
  1
  1
  2
  2
  3
  3
  4
  4
  5
  5
  6
  7
  7
  8
  9
  9
  10
  11
  12
  13
  13
  14
  15
  16
  17
  19
Earnings before tax, $m
  -37
  -229
  -276
  -329
  -388
  -452
  -521
  -595
  -675
  -759
  -848
  -942
  -1,041
  -1,144
  -1,252
  -1,365
  -1,482
  -1,604
  -1,731
  -1,863
  -2,000
  -2,143
  -2,291
  -2,444
  -2,604
  -2,771
  -2,944
  -3,125
  -3,313
  -3,508
  -3,713
Tax expense, $m
  18
  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
  -54
  -229
  -276
  -329
  -388
  -452
  -521
  -595
  -675
  -759
  -848
  -942
  -1,041
  -1,144
  -1,252
  -1,365
  -1,482
  -1,604
  -1,731
  -1,863
  -2,000
  -2,143
  -2,291
  -2,444
  -2,604
  -2,771
  -2,944
  -3,125
  -3,313
  -3,508
  -3,713

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  147
  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
  296
  182
  220
  262
  308
  359
  414
  473
  536
  603
  673
  748
  826
  908
  994
  1,083
  1,176
  1,273
  1,373
  1,478
  1,586
  1,699
  1,816
  1,938
  2,065
  2,197
  2,334
  2,477
  2,626
  2,782
  2,944
Adjusted assets (=assets-cash), $m
  149
  182
  220
  262
  308
  359
  414
  473
  536
  603
  673
  748
  826
  908
  994
  1,083
  1,176
  1,273
  1,373
  1,478
  1,586
  1,699
  1,816
  1,938
  2,065
  2,197
  2,334
  2,477
  2,626
  2,782
  2,944
Revenue / Adjusted assets
  1.027
  1.027
  1.027
  1.027
  1.029
  1.028
  1.027
  1.027
  1.026
  1.027
  1.028
  1.027
  1.028
  1.028
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
  1.028
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
  1.027
Average production assets, $m
  125
  153
  185
  220
  259
  301
  347
  397
  450
  506
  565
  628
  693
  762
  834
  909
  987
  1,068
  1,152
  1,240
  1,331
  1,426
  1,524
  1,626
  1,733
  1,844
  1,959
  2,079
  2,204
  2,334
  2,470
Working capital, $m
  160
  16
  19
  23
  27
  31
  36
  41
  47
  53
  59
  65
  72
  79
  87
  95
  103
  111
  120
  129
  138
  148
  159
  169
  180
  192
  204
  216
  229
  243
  257
Total debt, $m
  0
  7
  14
  23
  32
  42
  53
  65
  78
  91
  105
  120
  136
  153
  170
  188
  206
  226
  246
  267
  289
  312
  335
  360
  385
  412
  439
  468
  498
  529
  562
Total liabilities, $m
  30
  37
  44
  53
  62
  72
  83
  95
  108
  121
  135
  150
  166
  183
  200
  218
  236
  256
  276
  297
  319
  342
  365
  390
  415
  442
  469
  498
  528
  559
  592
Total equity, $m
  266
  146
  176
  209
  246
  287
  331
  378
  428
  482
  538
  598
  660
  726
  794
  865
  940
  1,017
  1,097
  1,181
  1,267
  1,358
  1,451
  1,549
  1,650
  1,756
  1,865
  1,979
  2,098
  2,223
  2,352
Total liabilities and equity, $m
  296
  183
  220
  262
  308
  359
  414
  473
  536
  603
  673
  748
  826
  909
  994
  1,083
  1,176
  1,273
  1,373
  1,478
  1,586
  1,700
  1,816
  1,939
  2,065
  2,198
  2,334
  2,477
  2,626
  2,782
  2,944
Debt-to-equity ratio
  0.000
  0.050
  0.080
  0.110
  0.130
  0.150
  0.160
  0.170
  0.180
  0.190
  0.200
  0.200
  0.210
  0.210
  0.210
  0.220
  0.220
  0.220
  0.220
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.240
  0.240
  0.240
  0.240
  0.240
Adjusted equity ratio
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799
  0.799

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -54
  -229
  -276
  -329
  -388
  -452
  -521
  -595
  -675
  -759
  -848
  -942
  -1,041
  -1,144
  -1,252
  -1,365
  -1,482
  -1,604
  -1,731
  -1,863
  -2,000
  -2,143
  -2,291
  -2,444
  -2,604
  -2,771
  -2,944
  -3,125
  -3,313
  -3,508
  -3,713
Depreciation, amort., depletion, $m
  34
  31
  37
  44
  52
  60
  69
  79
  90
  101
  113
  126
  139
  152
  167
  182
  197
  214
  230
  248
  266
  285
  305
  325
  347
  369
  392
  416
  441
  467
  494
Funds from operations, $m
  38
  -198
  -239
  -285
  -336
  -391
  -451
  -516
  -585
  -658
  -735
  -817
  -902
  -992
  -1,086
  -1,183
  -1,285
  -1,391
  -1,501
  -1,615
  -1,734
  -1,857
  -1,986
  -2,119
  -2,258
  -2,402
  -2,552
  -2,709
  -2,872
  -3,042
  -3,219
Change in working capital, $m
  4
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  12
  13
  14
  14
Cash from operations, $m
  34
  -201
  -243
  -289
  -340
  -396
  -456
  -521
  -590
  -664
  -742
  -823
  -909
  -999
  -1,093
  -1,191
  -1,293
  -1,399
  -1,510
  -1,624
  -1,743
  -1,867
  -1,996
  -2,130
  -2,269
  -2,414
  -2,564
  -2,721
  -2,885
  -3,055
  -3,233
Maintenance CAPEX, $m
  0
  -25
  -31
  -37
  -44
  -52
  -60
  -69
  -79
  -90
  -101
  -113
  -126
  -139
  -152
  -167
  -182
  -197
  -214
  -230
  -248
  -266
  -285
  -305
  -325
  -347
  -369
  -392
  -416
  -441
  -467
New CAPEX, $m
  -1
  -28
  -32
  -35
  -39
  -42
  -46
  -49
  -53
  -56
  -59
  -63
  -66
  -69
  -72
  -75
  -78
  -81
  -84
  -88
  -91
  -95
  -98
  -102
  -106
  -111
  -115
  -120
  -125
  -130
  -136
Cash from investing activities, $m
  -41
  -53
  -63
  -72
  -83
  -94
  -106
  -118
  -132
  -146
  -160
  -176
  -192
  -208
  -224
  -242
  -260
  -278
  -298
  -318
  -339
  -361
  -383
  -407
  -431
  -458
  -484
  -512
  -541
  -571
  -603
Free cash flow, $m
  -7
  -254
  -305
  -361
  -423
  -490
  -562
  -640
  -722
  -810
  -902
  -999
  -1,100
  -1,207
  -1,317
  -1,433
  -1,553
  -1,678
  -1,808
  -1,942
  -2,083
  -2,228
  -2,380
  -2,537
  -2,701
  -2,871
  -3,048
  -3,233
  -3,425
  -3,626
  -3,835
Issuance/(repayment) of debt, $m
  0
  7
  8
  8
  9
  10
  11
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  23
  24
  25
  25
  27
  28
  29
  30
  31
  33
Issuance/(repurchase) of shares, $m
  0
  256
  306
  363
  425
  492
  565
  642
  725
  813
  905
  1,002
  1,104
  1,210
  1,321
  1,436
  1,557
  1,682
  1,812
  1,947
  2,087
  2,233
  2,384
  2,542
  2,706
  2,876
  3,054
  3,239
  3,432
  3,632
  3,842
Cash from financing (excl. dividends), $m  
  -1
  263
  314
  371
  434
  502
  576
  654
  738
  826
  919
  1,017
  1,120
  1,226
  1,338
  1,454
  1,576
  1,701
  1,832
  1,968
  2,109
  2,256
  2,408
  2,567
  2,731
  2,903
  3,082
  3,268
  3,462
  3,663
  3,875
Total cash flow (excl. dividends), $m
  -8
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  33
  35
  36
  37
  39
Retained Cash Flow (-), $m
  44
  -256
  -306
  -363
  -425
  -492
  -565
  -642
  -725
  -813
  -905
  -1,002
  -1,104
  -1,210
  -1,321
  -1,436
  -1,557
  -1,682
  -1,812
  -1,947
  -2,087
  -2,233
  -2,384
  -2,542
  -2,706
  -2,876
  -3,054
  -3,239
  -3,432
  -3,632
  -3,842
Prev. year cash balance distribution, $m
 
  147
  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
 
  -101
  -297
  -353
  -414
  -480
  -551
  -628
  -710
  -796
  -888
  -984
  -1,085
  -1,190
  -1,300
  -1,415
  -1,534
  -1,658
  -1,787
  -1,921
  -2,061
  -2,206
  -2,356
  -2,512
  -2,675
  -2,844
  -3,021
  -3,204
  -3,396
  -3,595
  -3,803
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
 
  -96
  -272
  -307
  -341
  -372
  -400
  -424
  -444
  -457
  -465
  -467
  -463
  -453
  -436
  -415
  -390
  -361
  -329
  -296
  -262
  -228
  -195
  -165
  -136
  -111
  -88
  -69
  -53
  -39
  -29
Current shareholders' claim on cash, %
  100
  26.0
  6.9
  1.8
  0.5
  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
  0.0
  0.0

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company's operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions. The Company's operating subsidiaries assist patent owners with the prosecution and development of their patent portfolios, the protection of their patented inventions from unauthorized use, the generation of licensing revenue from users of their patented technologies and, where necessary, with the enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation. The Company's operating subsidiaries own or control the rights to multiple patent portfolios, which include the United States patents and certain foreign counterparts, covering technologies used in a range of industries.

FINANCIAL RATIOS  of  Acacia Research - Acacia Technologies (ACTG)

Valuation Ratios
P/E Ratio -3.9
Price to Sales 1.4
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 6.2
Price to Free Cash Flow 6.3
Growth Rates
Sales Growth Rate 22.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -95%
Cap. Spend. - 3 Yr. Gr. Rate -47.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0.4
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -16.8%
Ret/ On Assets - 3 Yr. Avg. -21.6%
Return On Total Capital -18.8%
Ret/ On T. Cap. - 3 Yr. Avg. -23.9%
Return On Equity -18.8%
Return On Equity - 3 Yr. Avg. -23.9%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 68%
Gross Margin - 3 Yr. Avg. 68.8%
EBITDA Margin -2%
EBITDA Margin - 3 Yr. Avg. -29.6%
Operating Margin -24.2%
Oper. Margin - 3 Yr. Avg. -64.6%
Pre-Tax Margin -24.2%
Pre-Tax Margin - 3 Yr. Avg. -64.9%
Net Profit Margin -35.3%
Net Profit Margin - 3 Yr. Avg. -71.2%
Effective Tax Rate -48.6%
Eff/ Tax Rate - 3 Yr. Avg. -19.2%
Payout Ratio 0%

ACTG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ACTG stock intrinsic value calculation we used $153 million for the last fiscal year's total revenue generated by Acacia Research - Acacia Technologies. The default revenue input number comes from 2016 income statement of Acacia Research - Acacia Technologies. 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 ACTG stock valuation model: a) initial revenue growth rate of 22.4% 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 ACTG is calculated based on our internal credit rating of Acacia Research - Acacia Technologies, 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 Acacia Research - Acacia Technologies.
    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 ACTG stock the variable cost ratio is equal to 222.2%.

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 ACTG 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 3.5% for Acacia Research - Acacia Technologies.

Corporate tax rate of 27% is the nominal tax rate for Acacia Research - Acacia Technologies. 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 ACTG 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 ACTG are equal to 81.7%.

Life of production assets of 3.7 years is the average useful life of capital assets used in Acacia Research - Acacia Technologies 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 ACTG 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 - $266 million for Acacia Research - Acacia Technologies - 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 48.397 million for Acacia Research - Acacia Technologies 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 Acacia Research - Acacia Technologies at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ Acacia Research Stock Breaks Out as Rally Continues   [Sep-22-17 10:27AM  Investopedia]
▶ Why Acacia Research Corp.'s Shares Popped 22% Today   [Sep-19-17 04:25PM  Motley Fool]
▶ Acacia Research reports 2Q loss   [Jul-27-17 09:50PM  Associated Press]
▶ Robots are coming to a burger joint near you   [Jul-04-17 09:01AM  CNBC]
▶ Acacia Research as an Investment Opportunity   [Jun-09-17 03:11PM  GuruFocus.com]
▶ New Strong Sell Stocks for June 1st   [Jun-01-17 10:47AM  Zacks]
▶ New Strong Sell Stocks for May 30th   [May-30-17 10:27AM  Zacks]
▶ New Strong Sell Stocks for May 22nd   [May-22-17 09:08AM  Zacks]
▶ New Strong Sell Stocks for May 12th   [May-12-17 11:02AM  Zacks]
▶ Acacia Research reports 1Q loss   [May-04-17 05:08PM  Associated Press]
▶ Who Are Patent Trolls & How Do They Work?   [Apr-15-17 06:00AM  Investopedia]
▶ Acacia Research reports 4Q loss   [04:22PM  Associated Press]
▶ Should You Buy Acacia Research Corporation (ACTG)?   [Dec-14-16 07:36AM  at Insider Monkey]
▶ *** DATA NOT AVAILABLE ***   [Nov-03-16 11:28AM  at noodls]
Financial statements of ACTG
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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