Intrinsic value of American Electric Power - AEP

Previous Close

$67.83

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$67.83

 
Intrinsic value

$44.37

 
Up/down potential

-35%

 
Rating

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 AEP 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 33.3

 

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, %
  -0.44
  4.90
  4.91
  4.92
  4.93
  4.93
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  5.00
Revenue, $m
  16,199
  17,183
  18,026
  18,913
  19,845
  20,824
  21,853
  22,934
  24,070
  25,263
  26,516
  27,833
  29,216
  30,668
  32,194
  33,796
  35,479
  37,246
  39,103
  41,052
  43,099
  45,249
  47,506
  49,877
  52,366
  54,980
  57,725
  60,608
  63,635
  66,813
  70,151
Variable operating expenses, $m
 
  13,694
  14,366
  15,073
  15,815
  16,595
  17,415
  18,276
  19,181
  20,132
  21,130
  22,174
  23,275
  24,433
  25,648
  26,925
  28,265
  29,673
  31,152
  32,705
  34,336
  36,048
  37,847
  39,736
  41,719
  43,801
  45,988
  48,285
  50,696
  53,228
  55,887
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
  15,173
  13,694
  14,366
  15,073
  15,815
  16,595
  17,415
  18,276
  19,181
  20,132
  21,130
  22,174
  23,275
  24,433
  25,648
  26,925
  28,265
  29,673
  31,152
  32,705
  34,336
  36,048
  37,847
  39,736
  41,719
  43,801
  45,988
  48,285
  50,696
  53,228
  55,887
Operating income, $m
  1,207
  3,488
  3,660
  3,840
  4,030
  4,229
  4,438
  4,658
  4,889
  5,131
  5,386
  5,659
  5,940
  6,236
  6,546
  6,872
  7,214
  7,573
  7,950
  8,347
  8,763
  9,200
  9,659
  10,141
  10,647
  11,179
  11,737
  12,323
  12,938
  13,585
  14,263
EBITDA, $m
  3,169
  3,494
  3,665
  3,845
  4,035
  4,234
  4,443
  4,663
  4,894
  5,137
  5,391
  5,659
  5,940
  6,236
  6,546
  6,872
  7,214
  7,573
  7,950
  8,347
  8,763
  9,200
  9,659
  10,141
  10,647
  11,179
  11,737
  12,323
  12,938
  13,585
  14,263
Interest expense (income), $m
  849
  857
  950
  1,044
  1,143
  1,246
  1,355
  1,470
  1,590
  1,717
  1,850
  1,989
  2,136
  2,290
  2,452
  2,622
  2,800
  2,988
  3,185
  3,391
  3,608
  3,836
  4,076
  4,327
  4,591
  4,869
  5,160
  5,466
  5,787
  6,124
  6,478
Earnings before tax, $m
  476
  2,631
  2,710
  2,796
  2,887
  2,982
  3,083
  3,188
  3,298
  3,414
  3,536
  3,670
  3,804
  3,945
  4,094
  4,250
  4,413
  4,585
  4,766
  4,955
  5,155
  5,364
  5,583
  5,814
  6,056
  6,310
  6,577
  6,857
  7,152
  7,461
  7,785
Tax expense, $m
  -73
  710
  732
  755
  780
  805
  832
  861
  891
  922
  955
  991
  1,027
  1,065
  1,105
  1,147
  1,192
  1,238
  1,287
  1,338
  1,392
  1,448
  1,507
  1,570
  1,635
  1,704
  1,776
  1,851
  1,931
  2,014
  2,102
Net income, $m
  611
  1,921
  1,978
  2,041
  2,108
  2,177
  2,250
  2,327
  2,408
  2,492
  2,581
  2,679
  2,777
  2,880
  2,989
  3,102
  3,222
  3,347
  3,479
  3,617
  3,763
  3,915
  4,076
  4,244
  4,421
  4,606
  4,801
  5,006
  5,221
  5,446
  5,683

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  542
  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
  63,468
  66,087
  69,332
  72,742
  76,326
  80,093
  84,050
  88,208
  92,576
  97,165
  101,986
  107,049
  112,368
  117,955
  123,823
  129,985
  136,458
  143,255
  150,394
  157,892
  165,765
  174,033
  182,715
  191,833
  201,408
  211,462
  222,020
  233,107
  244,749
  256,973
  269,810
Adjusted assets (=assets-cash), $m
  62,926
  66,087
  69,332
  72,742
  76,326
  80,093
  84,050
  88,208
  92,576
  97,165
  101,986
  107,049
  112,368
  117,955
  123,823
  129,985
  136,458
  143,255
  150,394
  157,892
  165,765
  174,033
  182,715
  191,833
  201,408
  211,462
  222,020
  233,107
  244,749
  256,973
  269,810
Revenue / Adjusted assets
  0.257
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
  0.260
Average production assets, $m
  -14,329
  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
Working capital, $m
  -3,464
  619
  649
  681
  714
  750
  787
  826
  867
  909
  955
  1,002
  1,052
  1,104
  1,159
  1,217
  1,277
  1,341
  1,408
  1,478
  1,552
  1,629
  1,710
  1,796
  1,885
  1,979
  2,078
  2,182
  2,291
  2,405
  2,525
Total debt, $m
  21,969
  23,745
  26,094
  28,563
  31,158
  33,885
  36,750
  39,760
  42,923
  46,245
  49,736
  53,402
  57,253
  61,297
  65,546
  70,007
  74,694
  79,615
  84,784
  90,211
  95,912
  101,898
  108,184
  114,785
  121,717
  128,997
  136,641
  144,667
  153,096
  161,947
  171,240
Total liabilities, $m
  46,071
  47,847
  50,196
  52,665
  55,260
  57,987
  60,852
  63,862
  67,025
  70,347
  73,838
  77,504
  81,355
  85,399
  89,648
  94,109
  98,796
  103,717
  108,886
  114,313
  120,014
  126,000
  132,286
  138,887
  145,819
  153,099
  160,743
  168,769
  177,198
  186,049
  195,342
Total equity, $m
  17,397
  18,240
  19,136
  20,077
  21,066
  22,106
  23,198
  24,345
  25,551
  26,818
  28,148
  29,546
  31,014
  32,556
  34,175
  35,876
  37,662
  39,539
  41,509
  43,578
  45,751
  48,033
  50,429
  52,946
  55,589
  58,364
  61,278
  64,337
  67,551
  70,925
  74,467
Total liabilities and equity, $m
  63,468
  66,087
  69,332
  72,742
  76,326
  80,093
  84,050
  88,207
  92,576
  97,165
  101,986
  107,050
  112,369
  117,955
  123,823
  129,985
  136,458
  143,256
  150,395
  157,891
  165,765
  174,033
  182,715
  191,833
  201,408
  211,463
  222,021
  233,106
  244,749
  256,974
  269,809
Debt-to-equity ratio
  1.263
  1.300
  1.360
  1.420
  1.480
  1.530
  1.580
  1.630
  1.680
  1.720
  1.770
  1.810
  1.850
  1.880
  1.920
  1.950
  1.980
  2.010
  2.040
  2.070
  2.100
  2.120
  2.150
  2.170
  2.190
  2.210
  2.230
  2.250
  2.270
  2.280
  2.300
Adjusted equity ratio
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276
  0.276

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  611
  1,921
  1,978
  2,041
  2,108
  2,177
  2,250
  2,327
  2,408
  2,492
  2,581
  2,679
  2,777
  2,880
  2,989
  3,102
  3,222
  3,347
  3,479
  3,617
  3,763
  3,915
  4,076
  4,244
  4,421
  4,606
  4,801
  5,006
  5,221
  5,446
  5,683
Depreciation, amort., depletion, $m
  1,962
  5
  5
  5
  5
  5
  5
  5
  5
  5
  5
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Funds from operations, $m
  4,123
  1,926
  1,984
  2,047
  2,113
  2,182
  2,256
  2,332
  2,413
  2,498
  2,587
  2,679
  2,777
  2,880
  2,989
  3,102
  3,222
  3,347
  3,479
  3,617
  3,763
  3,915
  4,076
  4,244
  4,421
  4,606
  4,801
  5,006
  5,221
  5,446
  5,683
Change in working capital, $m
  -396
  29
  30
  32
  34
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  58
  61
  64
  67
  70
  74
  77
  81
  85
  90
  94
  99
  104
  109
  114
  120
Cash from operations, $m
  4,519
  3,013
  1,953
  2,015
  2,079
  2,147
  2,219
  2,293
  2,372
  2,455
  2,542
  2,631
  2,727
  2,828
  2,934
  3,045
  3,161
  3,284
  3,412
  3,547
  3,689
  3,838
  3,994
  4,159
  4,331
  4,512
  4,702
  4,902
  5,112
  5,332
  5,563
Maintenance CAPEX, $m
  0
  2,866
  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
New CAPEX, $m
  -4,910
  -14,329
  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 from investing activities, $m
  -4,989
  -11,463
  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
Free cash flow, $m
  -470
  -8,450
  1,953
  2,015
  2,079
  2,147
  2,219
  2,293
  2,372
  2,455
  2,542
  2,631
  2,727
  2,828
  2,934
  3,045
  3,161
  3,284
  3,412
  3,547
  3,689
  3,838
  3,994
  4,159
  4,331
  4,512
  4,702
  4,902
  5,112
  5,332
  5,563
Issuance/(repayment) of debt, $m
  1,606
  2,318
  2,349
  2,469
  2,595
  2,727
  2,865
  3,010
  3,163
  3,322
  3,490
  3,666
  3,851
  4,045
  4,248
  4,462
  4,686
  4,921
  5,169
  5,428
  5,700
  5,986
  6,286
  6,601
  6,932
  7,279
  7,644
  8,027
  8,429
  8,851
  9,294
Issuance/(repurchase) of shares, $m
  34
  6,975
  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 from financing (excl. dividends), $m  
  1,625
  9,293
  2,349
  2,469
  2,595
  2,727
  2,865
  3,010
  3,163
  3,322
  3,490
  3,666
  3,851
  4,045
  4,248
  4,462
  4,686
  4,921
  5,169
  5,428
  5,700
  5,986
  6,286
  6,601
  6,932
  7,279
  7,644
  8,027
  8,429
  8,851
  9,294
Total cash flow (excl. dividends), $m
  1,155
  -6,132
  4,303
  4,484
  4,674
  4,874
  5,084
  5,304
  5,535
  5,777
  6,032
  6,298
  6,578
  6,873
  7,182
  7,506
  7,847
  8,205
  8,581
  8,975
  9,389
  9,824
  10,281
  10,760
  11,263
  11,792
  12,346
  12,929
  13,540
  14,183
  14,857
Retained Cash Flow (-), $m
  495
  -843
  -896
  -941
  -989
  -1,039
  -1,092
  -1,148
  -1,206
  -1,267
  -1,330
  -1,398
  -1,468
  -1,542
  -1,620
  -1,701
  -1,786
  -1,876
  -1,970
  -2,069
  -2,173
  -2,282
  -2,396
  -2,517
  -2,643
  -2,775
  -2,914
  -3,060
  -3,213
  -3,374
  -3,543
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
 
  0
  3,407
  3,543
  3,685
  3,834
  3,991
  4,156
  4,329
  4,511
  4,701
  4,900
  5,110
  5,331
  5,562
  5,806
  6,061
  6,329
  6,610
  6,906
  7,216
  7,542
  7,884
  8,243
  8,621
  9,017
  9,432
  9,869
  10,327
  10,809
  11,314
Discount rate, %
 
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
 
  0
  2,894
  2,741
  2,575
  2,398
  2,212
  2,020
  1,826
  1,631
  1,439
  1,254
  1,077
  912
  760
  624
  502
  397
  308
  234
  174
  126
  90
  62
  42
  27
  17
  11
  6
  4
  2
Current shareholders' claim on cash, %
  100
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7
  82.7

American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric and other energy sources. It also supplies and markets electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants. The company delivers electricity to approximately 5.4 million customers in 11 states. The company owns and leases approximately 4,838 railcars, 498 barges, 12 towboats, 8 harbor boats, and a coal handling terminal. American Electric Power Company, Inc. was founded in 1906 and is headquartered in Columbus, Ohio.

FINANCIAL RATIOS  of  American Electric Power (AEP)

Valuation Ratios
P/E Ratio 54.6
Price to Sales 2
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 7.4
Price to Free Cash Flow -85.3
Growth Rates
Sales Growth Rate -0.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.7%
Cap. Spend. - 3 Yr. Gr. Rate 5.4%
Financial Strength
Quick Ratio 0
Current Ratio 0.2
LT Debt to Equity 99.9%
Total Debt to Equity 126.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.5%
Ret/ On Assets - 3 Yr. Avg. 3.5%
Return On Total Capital 1.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.9%
Return On Equity 3.5%
Return On Equity - 3 Yr. Avg. 8.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 20.1%
EBITDA Margin - 3 Yr. Avg. 28.3%
Operating Margin 7.4%
Oper. Margin - 3 Yr. Avg. 15.6%
Pre-Tax Margin 2.9%
Pre-Tax Margin - 3 Yr. Avg. 11.2%
Net Profit Margin 3.7%
Net Profit Margin - 3 Yr. Avg. 8.7%
Effective Tax Rate -15.3%
Eff/ Tax Rate - 3 Yr. Avg. 19.1%
Payout Ratio 183.5%

AEP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AEP stock intrinsic value calculation we used $16380 million for the last fiscal year's total revenue generated by American Electric Power. The default revenue input number comes from 2016 income statement of American Electric Power. 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 AEP stock valuation model: a) initial revenue growth rate of 4.9% 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 8.1%, whose default value for AEP is calculated based on our internal credit rating of American Electric Power, 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 American Electric Power.
    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 AEP stock the variable cost ratio is equal to 79.7%.

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 AEP 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% for American Electric Power.

Corporate tax rate of 27% is the nominal tax rate for American Electric Power. 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 AEP 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 AEP are equal to 0%.

Life of production assets of -7.3 years is the average useful life of capital assets used in American Electric Power 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 AEP is equal to 3.6%. 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 - $17397 million for American Electric Power - 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 491.435 million for American Electric Power 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 American Electric Power at the current share price and the inputted number of shares is $33.3 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
DUK Duke Energy 82.50 177.37  str.buy
PPL PPL 38.11 26.45  sell
SO Southern 49.80 546.69  str.buy
EXC Exelon 34.63 149.59  str.buy
GXP Great Plains E 29.59 30.71  hold
WR Westar Energy 52.03 59.53  hold
FE FirstEnergy 29.94 27.66  hold
XEL Xcel Energy 45.05 35.71  hold
ETR Entergy 76.26 27.88  str.sell

COMPANY NEWS

▶ AEP Generation Resources Seeks Bids For Coal   [Apr-28-17 05:33PM  PR Newswire]
▶ AEP misses 1Q profit forecasts   [07:44AM  Associated Press]
▶ AEP Schedules Live Webcast Of Quarterly Earnings Call   [Apr-20-17 04:17PM  PR Newswire]
▶ As Trump vows to save coal jobs, AEP focuses on renewables   [Mar-30-17 01:18PM  at bizjournals.com]
▶ As Trump vows to save coal jobs, AEP focuses on renewables   [01:18PM  American City Business Journals]
▶ Ohio renewable energy bill could hurt AEP's wind and solar projects   [01:05PM  American City Business Journals]
▶ Don't Get Zapped by American Electric Power   [Mar-09-17 11:05AM  TheStreet.com]
▶ AEP Unveils New Logo, Brand Identity   [Mar-08-17 12:34PM  PR Newswire]
▶ AEP changing its logo for the 1st time in 30 years   [12:20PM  at bizjournals.com]
▶ AEP CEO supports FirstEnergys bid for nuclear plant subsidies   [Mar-07-17 01:10PM  at bizjournals.com]
▶ AEP, Dynegy swap Ohio power plant ownership   [11:10AM  at bizjournals.com]
▶ Powers To Retire From AEP In August   [Feb-21-17 03:00PM  PR Newswire]
▶ American Electric Power Seeks Bids for Coal   [Feb-07-17 03:15PM  PR Newswire]
▶ AEP Completes Sale of Four Competitive Power Plants   [Jan-30-17 11:48AM  PR Newswire]
▶ AEP Schedules Live Webcast Of Quarterly Earnings Call   [Jan-20-17 02:12PM  PR Newswire]
Stock chart of AEP Financial statements of AEP
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.