Intrinsic value of Air Methods - AIRM

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$42.95

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$42.95

 
Intrinsic value

$34.09

 
Up/down potential

-21%

 
Rating

sell

 
Value-price divergence* premium content

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

We calculate the intrinsic value of AIRM 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 1.6

 

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, %
  8.33
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  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
  5.45
  5.40
  5.36
  5.32
  5.29
Revenue, $m
  1,170
  1,301
  1,439
  1,583
  1,734
  1,891
  2,055
  2,225
  2,402
  2,586
  2,778
  2,977
  3,184
  3,398
  3,622
  3,854
  4,096
  4,348
  4,611
  4,884
  5,169
  5,467
  5,777
  6,101
  6,440
  6,793
  7,163
  7,550
  7,955
  8,379
  8,822
Variable operating expenses, $m
 
  1,066
  1,176
  1,292
  1,413
  1,539
  1,671
  1,808
  1,950
  2,098
  2,252
  2,390
  2,556
  2,729
  2,908
  3,095
  3,289
  3,491
  3,702
  3,922
  4,151
  4,389
  4,639
  4,899
  5,171
  5,455
  5,752
  6,063
  6,388
  6,728
  7,084
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
  979
  1,066
  1,176
  1,292
  1,413
  1,539
  1,671
  1,808
  1,950
  2,098
  2,252
  2,390
  2,556
  2,729
  2,908
  3,095
  3,289
  3,491
  3,702
  3,922
  4,151
  4,389
  4,639
  4,899
  5,171
  5,455
  5,752
  6,063
  6,388
  6,728
  7,084
Operating income, $m
  191
  235
  262
  291
  320
  351
  384
  417
  452
  489
  526
  587
  627
  670
  714
  759
  807
  857
  908
  962
  1,018
  1,077
  1,138
  1,202
  1,269
  1,339
  1,411
  1,488
  1,567
  1,651
  1,738
EBITDA, $m
  284
  345
  381
  419
  459
  501
  544
  589
  636
  685
  736
  788
  843
  900
  959
  1,021
  1,085
  1,151
  1,221
  1,293
  1,369
  1,448
  1,530
  1,616
  1,705
  1,799
  1,897
  1,999
  2,107
  2,219
  2,336
Interest expense (income), $m
  31
  35
  40
  46
  52
  58
  64
  71
  78
  85
  92
  100
  108
  116
  125
  134
  144
  153
  163
  174
  185
  197
  209
  221
  234
  248
  262
  277
  293
  309
  326
Earnings before tax, $m
  161
  200
  222
  245
  269
  294
  319
  346
  374
  404
  434
  486
  519
  553
  589
  625
  664
  703
  745
  788
  833
  880
  930
  981
  1,035
  1,091
  1,149
  1,211
  1,275
  1,342
  1,412
Tax expense, $m
  63
  54
  60
  66
  73
  79
  86
  94
  101
  109
  117
  131
  140
  149
  159
  169
  179
  190
  201
  213
  225
  238
  251
  265
  279
  294
  310
  327
  344
  362
  381
Net income, $m
  98
  146
  162
  179
  196
  214
  233
  253
  273
  295
  317
  355
  379
  404
  430
  456
  484
  514
  544
  575
  608
  643
  679
  716
  755
  796
  839
  884
  931
  980
  1,031

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  6
  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
  1,789
  1,983
  2,193
  2,413
  2,643
  2,882
  3,132
  3,392
  3,662
  3,943
  4,234
  4,538
  4,853
  5,181
  5,521
  5,876
  6,244
  6,628
  7,028
  7,445
  7,880
  8,333
  8,806
  9,300
  9,817
  10,356
  10,920
  11,510
  12,126
  12,772
  13,448
Adjusted assets (=assets-cash), $m
  1,783
  1,983
  2,193
  2,413
  2,643
  2,882
  3,132
  3,392
  3,662
  3,943
  4,234
  4,538
  4,853
  5,181
  5,521
  5,876
  6,244
  6,628
  7,028
  7,445
  7,880
  8,333
  8,806
  9,300
  9,817
  10,356
  10,920
  11,510
  12,126
  12,772
  13,448
Revenue / Adjusted assets
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
  0.656
Average production assets, $m
  999
  1,111
  1,229
  1,352
  1,480
  1,615
  1,755
  1,900
  2,051
  2,209
  2,372
  2,542
  2,719
  2,902
  3,093
  3,292
  3,498
  3,713
  3,937
  4,171
  4,414
  4,668
  4,934
  5,210
  5,499
  5,802
  6,118
  6,448
  6,794
  7,155
  7,534
Working capital, $m
  300
  433
  479
  527
  577
  630
  684
  741
  800
  861
  925
  991
  1,060
  1,132
  1,206
  1,284
  1,364
  1,448
  1,535
  1,626
  1,721
  1,820
  1,924
  2,032
  2,144
  2,262
  2,385
  2,514
  2,649
  2,790
  2,938
Total debt, $m
  907
  1,038
  1,180
  1,329
  1,485
  1,648
  1,818
  1,994
  2,177
  2,368
  2,566
  2,772
  2,986
  3,209
  3,440
  3,681
  3,931
  4,192
  4,463
  4,746
  5,041
  5,349
  5,670
  6,006
  6,356
  6,723
  7,106
  7,506
  7,925
  8,363
  8,822
Total liabilities, $m
  1,217
  1,347
  1,489
  1,638
  1,794
  1,957
  2,127
  2,303
  2,486
  2,677
  2,875
  3,081
  3,295
  3,518
  3,749
  3,990
  4,240
  4,501
  4,772
  5,055
  5,350
  5,658
  5,979
  6,315
  6,665
  7,032
  7,415
  7,815
  8,234
  8,672
  9,131
Total equity, $m
  573
  637
  704
  775
  848
  925
  1,005
  1,089
  1,175
  1,266
  1,359
  1,457
  1,558
  1,663
  1,772
  1,886
  2,004
  2,128
  2,256
  2,390
  2,529
  2,675
  2,827
  2,985
  3,151
  3,324
  3,505
  3,695
  3,893
  4,100
  4,317
Total liabilities and equity, $m
  1,790
  1,984
  2,193
  2,413
  2,642
  2,882
  3,132
  3,392
  3,661
  3,943
  4,234
  4,538
  4,853
  5,181
  5,521
  5,876
  6,244
  6,629
  7,028
  7,445
  7,879
  8,333
  8,806
  9,300
  9,816
  10,356
  10,920
  11,510
  12,127
  12,772
  13,448
Debt-to-equity ratio
  1.583
  1.630
  1.680
  1.720
  1.750
  1.780
  1.810
  1.830
  1.850
  1.870
  1.890
  1.900
  1.920
  1.930
  1.940
  1.950
  1.960
  1.970
  1.980
  1.990
  1.990
  2.000
  2.010
  2.010
  2.020
  2.020
  2.030
  2.030
  2.040
  2.040
  2.040
Adjusted equity ratio
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321
  0.321

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  98
  146
  162
  179
  196
  214
  233
  253
  273
  295
  317
  355
  379
  404
  430
  456
  484
  514
  544
  575
  608
  643
  679
  716
  755
  796
  839
  884
  931
  980
  1,031
Depreciation, amort., depletion, $m
  93
  109
  119
  128
  139
  149
  160
  172
  184
  196
  209
  202
  216
  230
  245
  261
  278
  295
  312
  331
  350
  371
  392
  414
  436
  460
  486
  512
  539
  568
  598
Funds from operations, $m
  209
  255
  281
  307
  335
  364
  394
  425
  457
  491
  526
  557
  595
  634
  675
  718
  762
  808
  856
  906
  959
  1,013
  1,070
  1,130
  1,192
  1,257
  1,324
  1,395
  1,470
  1,547
  1,629
Change in working capital, $m
  -18
  44
  46
  48
  50
  52
  55
  57
  59
  61
  64
  66
  69
  72
  74
  77
  81
  84
  87
  91
  95
  99
  103
  108
  113
  118
  123
  129
  135
  141
  148
Cash from operations, $m
  227
  281
  235
  259
  285
  311
  339
  368
  398
  430
  462
  491
  526
  563
  601
  640
  681
  724
  769
  815
  864
  914
  967
  1,022
  1,079
  1,139
  1,201
  1,267
  1,335
  1,406
  1,481
Maintenance CAPEX, $m
  0
  -79
  -88
  -98
  -107
  -117
  -128
  -139
  -151
  -163
  -175
  -188
  -202
  -216
  -230
  -245
  -261
  -278
  -295
  -312
  -331
  -350
  -371
  -392
  -414
  -436
  -460
  -486
  -512
  -539
  -568
New CAPEX, $m
  -109
  -112
  -118
  -123
  -129
  -134
  -140
  -146
  -151
  -157
  -163
  -170
  -177
  -184
  -191
  -199
  -207
  -215
  -224
  -234
  -243
  -254
  -265
  -277
  -289
  -302
  -316
  -330
  -346
  -362
  -379
Cash from investing activities, $m
  -328
  -191
  -206
  -221
  -236
  -251
  -268
  -285
  -302
  -320
  -338
  -358
  -379
  -400
  -421
  -444
  -468
  -493
  -519
  -546
  -574
  -604
  -636
  -669
  -703
  -738
  -776
  -816
  -858
  -901
  -947
Free cash flow, $m
  -101
  89
  29
  38
  49
  59
  71
  83
  96
  110
  124
  132
  148
  163
  179
  196
  214
  232
  250
  269
  289
  310
  331
  353
  376
  400
  425
  451
  478
  505
  535
Issuance/(repayment) of debt, $m
  196
  137
  142
  149
  156
  163
  170
  176
  183
  191
  198
  206
  214
  222
  231
  241
  250
  261
  272
  283
  295
  308
  321
  335
  350
  366
  383
  400
  419
  438
  459
Issuance/(repurchase) of shares, $m
  -96
  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 from financing (excl. dividends), $m  
  101
  137
  142
  149
  156
  163
  170
  176
  183
  191
  198
  206
  214
  222
  231
  241
  250
  261
  272
  283
  295
  308
  321
  335
  350
  366
  383
  400
  419
  438
  459
Total cash flow (excl. dividends), $m
  0
  226
  172
  188
  205
  222
  241
  260
  280
  300
  322
  338
  362
  386
  411
  437
  464
  492
  522
  552
  584
  618
  653
  689
  727
  766
  808
  851
  896
  944
  993
Retained Cash Flow (-), $m
  -9
  -64
  -67
  -71
  -74
  -77
  -80
  -83
  -87
  -90
  -94
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -134
  -140
  -146
  -152
  -159
  -166
  -173
  -181
  -189
  -198
  -207
  -217
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
 
  162
  104
  117
  131
  145
  160
  176
  193
  210
  228
  241
  260
  281
  301
  323
  346
  369
  393
  419
  445
  472
  501
  530
  561
  593
  627
  662
  698
  737
  777
Discount rate, %
 
  8.30
  8.72
  9.15
  9.61
  10.09
  10.59
  11.12
  11.68
  12.26
  12.88
  13.52
  14.20
  14.91
  15.65
  16.43
  17.26
  18.12
  19.02
  19.97
  20.97
  22.02
  23.12
  24.28
  25.49
  26.77
  28.11
  29.51
  30.99
  32.54
  34.16
PV of cash for distribution, $m
 
  150
  88
  90
  91
  90
  88
  84
  80
  74
  68
  60
  53
  46
  39
  33
  27
  22
  17
  13
  10
  7
  5
  4
  2
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Air Methods Corporation, together with its subsidiaries, provides air medical emergency transport services and systems in the United States. The company operates in the Air Medical Services (AMS), Tourism, and United Rotorcraft (UR) segments. The AMS segment provides air medical transportation services to the general population as an independent service, as well as to hospitals and other institutions under exclusive operating agreements. Its services include medical care, aircraft operation and maintenance, dispatch and communications, and medical billing and collections. As of December 31, 2015, this segmentÂ’s aircraft fleet consisted of 321 company-owned aircraft and 92 leased aircraft, as well as 54 aircraft owned by AMS customers and operated by the company under contracts with them. The Tourism segment provides aerial tours and charter flights, primarily focusing on Grand Canyon and Hawaiian Island tours. This segment markets its tours through Websites, as well as through various agencies, such as online booking companies, hotels, resorts, and cruise operators. It operates 65 helicopters and 2 fixed wing aircraft under three Part 135 Air Carrier Certificates. The UR segment designs, manufactures, installs, and certifies aircraft modular medical interiors, multi-mission interiors, and other aerospace and medical transport products for domestic and international customers. This segment also offers quality assurance and certification services. Air Methods Corporation was founded in 1982 and is headquartered in Englewood, Colorado.

FINANCIAL RATIOS  of  Air Methods (AIRM)

Valuation Ratios
P/E Ratio 16
Price to Sales 1.3
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 6.9
Price to Free Cash Flow 13.2
Growth Rates
Sales Growth Rate 8.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -34.7%
Cap. Spend. - 3 Yr. Gr. Rate -1.9%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 141.5%
Total Debt to Equity 158.3%
Interest Coverage 6
Management Effectiveness
Return On Assets 7%
Ret/ On Assets - 3 Yr. Avg. 7.8%
Return On Total Capital 7.2%
Ret/ On T. Cap. - 3 Yr. Avg. 8.3%
Return On Equity 17.2%
Return On Equity - 3 Yr. Avg. 20%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 38.5%
Gross Margin - 3 Yr. Avg. 39.4%
EBITDA Margin 24.4%
EBITDA Margin - 3 Yr. Avg. 25.5%
Operating Margin 16.3%
Oper. Margin - 3 Yr. Avg. 17.5%
Pre-Tax Margin 13.8%
Pre-Tax Margin - 3 Yr. Avg. 15.4%
Net Profit Margin 8.4%
Net Profit Margin - 3 Yr. Avg. 9.2%
Effective Tax Rate 39.1%
Eff/ Tax Rate - 3 Yr. Avg. 39.3%
Payout Ratio 0%

AIRM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AIRM stock intrinsic value calculation we used $1170 million for the last fiscal year's total revenue generated by Air Methods. The default revenue input number comes from 2016 income statement of Air Methods. 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 AIRM stock valuation model: a) initial revenue growth rate of 11.2% 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 8.3%, whose default value for AIRM is calculated based on our internal credit rating of Air Methods, 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 Air Methods.
    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 AIRM stock the variable cost ratio is equal to 82.1%.

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 AIRM 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 3.9% for Air Methods.

Corporate tax rate of 27% is the nominal tax rate for Air Methods. 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 AIRM 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 AIRM are equal to 85.4%.

Life of production assets of 12.6 years is the average useful life of capital assets used in Air Methods 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 AIRM is equal to 33.3%. 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 - $573 million for Air Methods - 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 36.512 million for Air Methods 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 Air Methods at the current share price and the inputted number of shares is $1.6 billion.


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COMPANY NEWS

▶ Growing Earnings for 7 Undervalued Stocks   [04:07PM  GuruFocus.com]
▶ Air Ambulances: Taking Patients for a Ride   [Apr-06-17 06:00AM  Consumer Reports]
▶ Why Air Methods Corp Surged 11% Thursday   [Mar-02-17 06:45PM  at Motley Fool]
▶ Air Methods Announces Two New Executive Hires   [Feb-27-17 09:01AM  GlobeNewswire]
▶ [$$] Activist Investor Seeks Four Board Seats as Air Methods Explores Sale   [Feb-15-17 05:05PM  at The Wall Street Journal]
▶ Why Air Methods Stock Jumped 7.5% on Wednesday   [Feb-01-17 04:18PM  at Motley Fool]
▶ [$$] Medical Helicopter Company Air Methods Exploring a Sale   [02:41PM  at The Wall Street Journal]
▶ Inogen Inc (INGN): Why is Smart Money Unloading This Stock?   [Dec-12-16 03:35PM  at Insider Monkey]
▶ Is Air Methods Corp (AIRM) a Good Stock to Invest In?   [Dec-02-16 12:47PM  at Insider Monkey]
▶ Why Air Methods Corp. Stock Soared 17%   [Nov-04-16 12:21PM  at Motley Fool]
▶ These 3 Healthcare Stocks Are Ridiculously Cheap   [Oct-08-16 09:58AM  at Motley Fool]
▶ Air Methods Announces New Chief Medical Officer   [Sep-12-16 04:01PM  GlobeNewswire]
▶ Why Air Methods Corp. Shares Sank 12% Today   [Sep-08-16 05:21PM  at Motley Fool]
▶ Air Methods Provides Update on August Transports   [Sep-07-16 06:00PM  GlobeNewswire]
Stock chart of AIRM Financial statements of AIRM
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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