Intrinsic value of Autoliv - ALV

Previous Close

$108.61

  Intrinsic Value

$180.67

stock screener

  Rating & Target

str. buy

+66%

  Value-price divergence*

+61%

Previous close

$108.61

 
Intrinsic value

$180.67

 
Up/down potential

+66%

 
Rating

str. buy

 
Value-price divergence*

+61%

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

We calculate the intrinsic value of ALV 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 9.6

 

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, %
  9.86
  7.30
  7.07
  6.86
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
  5.17
  5.15
  5.13
  5.12
  5.11
Revenue, $m
  10,074
  10,809
  11,574
  12,368
  13,194
  14,052
  14,946
  15,876
  16,844
  17,853
  18,905
  20,002
  21,146
  22,341
  23,589
  24,892
  26,255
  27,680
  29,170
  30,729
  32,361
  34,069
  35,858
  37,733
  39,696
  41,754
  43,910
  46,171
  48,542
  51,027
  53,634
Variable operating expenses, $m
 
  9,358
  10,006
  10,680
  11,381
  12,110
  12,868
  13,657
  14,478
  15,334
  16,227
  16,970
  17,941
  18,955
  20,013
  21,119
  22,275
  23,484
  24,748
  26,071
  27,456
  28,905
  30,423
  32,013
  33,679
  35,425
  37,255
  39,173
  41,184
  43,293
  45,504
Fixed operating expenses, $m
 
  514
  526
  540
  553
  567
  581
  596
  610
  626
  641
  657
  674
  691
  708
  726
  744
  762
  781
  801
  821
  841
  863
  884
  906
  929
  952
  976
  1,000
  1,025
  1,051
Total operating expenses, $m
  9,226
  9,872
  10,532
  11,220
  11,934
  12,677
  13,449
  14,253
  15,088
  15,960
  16,868
  17,627
  18,615
  19,646
  20,721
  21,845
  23,019
  24,246
  25,529
  26,872
  28,277
  29,746
  31,286
  32,897
  34,585
  36,354
  38,207
  40,149
  42,184
  44,318
  46,555
Operating income, $m
  848
  938
  1,041
  1,148
  1,260
  1,376
  1,497
  1,624
  1,756
  1,893
  2,037
  2,374
  2,531
  2,696
  2,868
  3,047
  3,236
  3,433
  3,640
  3,857
  4,084
  4,322
  4,573
  4,835
  5,111
  5,400
  5,704
  6,022
  6,357
  6,709
  7,079
EBITDA, $m
  1,231
  1,310
  1,426
  1,547
  1,672
  1,803
  1,940
  2,082
  2,231
  2,386
  2,547
  2,716
  2,893
  3,078
  3,271
  3,473
  3,685
  3,906
  4,139
  4,382
  4,637
  4,905
  5,186
  5,480
  5,789
  6,114
  6,454
  6,812
  7,187
  7,582
  7,996
Interest expense (income), $m
  64
  56
  69
  83
  97
  112
  127
  144
  160
  178
  196
  215
  235
  256
  277
  300
  323
  348
  374
  401
  429
  458
  489
  522
  556
  591
  628
  667
  708
  751
  796
Earnings before tax, $m
  804
  882
  972
  1,065
  1,163
  1,264
  1,370
  1,480
  1,595
  1,715
  1,841
  2,159
  2,296
  2,440
  2,590
  2,748
  2,912
  3,085
  3,266
  3,456
  3,655
  3,864
  4,083
  4,313
  4,555
  4,809
  5,075
  5,355
  5,649
  5,958
  6,283
Tax expense, $m
  242
  238
  262
  288
  314
  341
  370
  400
  431
  463
  497
  583
  620
  659
  699
  742
  786
  833
  882
  933
  987
  1,043
  1,102
  1,165
  1,230
  1,298
  1,370
  1,446
  1,525
  1,609
  1,696
Net income, $m
  567
  644
  710
  778
  849
  923
  1,000
  1,080
  1,164
  1,252
  1,344
  1,576
  1,676
  1,781
  1,891
  2,006
  2,126
  2,252
  2,384
  2,523
  2,668
  2,821
  2,981
  3,149
  3,325
  3,510
  3,705
  3,909
  4,124
  4,349
  4,586

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,227
  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
  8,234
  7,517
  8,048
  8,601
  9,175
  9,772
  10,394
  11,040
  11,714
  12,415
  13,147
  13,910
  14,705
  15,536
  16,404
  17,310
  18,258
  19,249
  20,285
  21,369
  22,504
  23,692
  24,936
  26,240
  27,605
  29,036
  30,536
  32,108
  33,756
  35,485
  37,297
Adjusted assets (=assets-cash), $m
  7,007
  7,517
  8,048
  8,601
  9,175
  9,772
  10,394
  11,040
  11,714
  12,415
  13,147
  13,910
  14,705
  15,536
  16,404
  17,310
  18,258
  19,249
  20,285
  21,369
  22,504
  23,692
  24,936
  26,240
  27,605
  29,036
  30,536
  32,108
  33,756
  35,485
  37,297
Revenue / Adjusted assets
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
  1.438
Average production assets, $m
  1,718
  1,848
  1,979
  2,115
  2,256
  2,403
  2,556
  2,715
  2,880
  3,053
  3,233
  3,420
  3,616
  3,820
  4,034
  4,257
  4,490
  4,733
  4,988
  5,255
  5,534
  5,826
  6,132
  6,452
  6,788
  7,140
  7,509
  7,895
  8,301
  8,726
  9,171
Working capital, $m
  1,543
  573
  613
  656
  699
  745
  792
  841
  893
  946
  1,002
  1,060
  1,121
  1,184
  1,250
  1,319
  1,392
  1,467
  1,546
  1,629
  1,715
  1,806
  1,900
  2,000
  2,104
  2,213
  2,327
  2,447
  2,573
  2,704
  2,843
Total debt, $m
  1,543
  1,639
  1,968
  2,310
  2,665
  3,035
  3,420
  3,820
  4,237
  4,671
  5,124
  5,596
  6,089
  6,603
  7,140
  7,701
  8,288
  8,901
  9,542
  10,214
  10,916
  11,651
  12,422
  13,228
  14,074
  14,959
  15,888
  16,861
  17,881
  18,951
  20,073
Total liabilities, $m
  4,557
  4,653
  4,982
  5,324
  5,679
  6,049
  6,434
  6,834
  7,251
  7,685
  8,138
  8,610
  9,103
  9,617
  10,154
  10,715
  11,302
  11,915
  12,556
  13,228
  13,930
  14,665
  15,436
  16,242
  17,088
  17,973
  18,902
  19,875
  20,895
  21,965
  23,087
Total equity, $m
  3,677
  2,864
  3,066
  3,277
  3,496
  3,723
  3,960
  4,206
  4,463
  4,730
  5,009
  5,300
  5,603
  5,919
  6,250
  6,595
  6,956
  7,334
  7,729
  8,142
  8,574
  9,027
  9,501
  9,997
  10,518
  11,063
  11,634
  12,233
  12,861
  13,520
  14,210
Total liabilities and equity, $m
  8,234
  7,517
  8,048
  8,601
  9,175
  9,772
  10,394
  11,040
  11,714
  12,415
  13,147
  13,910
  14,706
  15,536
  16,404
  17,310
  18,258
  19,249
  20,285
  21,370
  22,504
  23,692
  24,937
  26,239
  27,606
  29,036
  30,536
  32,108
  33,756
  35,485
  37,297
Debt-to-equity ratio
  0.420
  0.570
  0.640
  0.700
  0.760
  0.820
  0.860
  0.910
  0.950
  0.990
  1.020
  1.060
  1.090
  1.120
  1.140
  1.170
  1.190
  1.210
  1.230
  1.250
  1.270
  1.290
  1.310
  1.320
  1.340
  1.350
  1.370
  1.380
  1.390
  1.400
  1.410
Adjusted equity ratio
  0.350
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381
  0.381

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  567
  644
  710
  778
  849
  923
  1,000
  1,080
  1,164
  1,252
  1,344
  1,576
  1,676
  1,781
  1,891
  2,006
  2,126
  2,252
  2,384
  2,523
  2,668
  2,821
  2,981
  3,149
  3,325
  3,510
  3,705
  3,909
  4,124
  4,349
  4,586
Depreciation, amort., depletion, $m
  383
  372
  385
  399
  413
  427
  443
  459
  475
  492
  510
  342
  362
  382
  403
  426
  449
  473
  499
  525
  553
  583
  613
  645
  679
  714
  751
  790
  830
  873
  917
Funds from operations, $m
  790
  1,016
  1,095
  1,176
  1,261
  1,350
  1,443
  1,539
  1,640
  1,745
  1,854
  1,918
  2,038
  2,163
  2,294
  2,431
  2,575
  2,725
  2,883
  3,048
  3,222
  3,403
  3,594
  3,794
  4,004
  4,224
  4,456
  4,699
  4,954
  5,222
  5,503
Change in working capital, $m
  -78
  39
  41
  42
  44
  46
  47
  49
  51
  53
  56
  58
  61
  63
  66
  69
  72
  76
  79
  83
  86
  91
  95
  99
  104
  109
  114
  120
  126
  132
  138
Cash from operations, $m
  868
  977
  1,054
  1,134
  1,218
  1,305
  1,395
  1,490
  1,588
  1,691
  1,798
  1,860
  1,977
  2,100
  2,228
  2,362
  2,503
  2,650
  2,804
  2,966
  3,135
  3,313
  3,499
  3,695
  3,900
  4,115
  4,342
  4,579
  4,828
  5,090
  5,365
Maintenance CAPEX, $m
  0
  -172
  -185
  -198
  -211
  -226
  -240
  -256
  -271
  -288
  -305
  -323
  -342
  -362
  -382
  -403
  -426
  -449
  -473
  -499
  -525
  -553
  -583
  -613
  -645
  -679
  -714
  -751
  -790
  -830
  -873
New CAPEX, $m
  -507
  -130
  -131
  -136
  -141
  -147
  -153
  -159
  -166
  -173
  -180
  -188
  -196
  -204
  -213
  -223
  -233
  -244
  -255
  -267
  -279
  -292
  -306
  -320
  -336
  -352
  -369
  -387
  -405
  -425
  -446
Cash from investing activities, $m
  -726
  -302
  -316
  -334
  -352
  -373
  -393
  -415
  -437
  -461
  -485
  -511
  -538
  -566
  -595
  -626
  -659
  -693
  -728
  -766
  -804
  -845
  -889
  -933
  -981
  -1,031
  -1,083
  -1,138
  -1,195
  -1,255
  -1,319
Free cash flow, $m
  142
  675
  739
  800
  865
  932
  1,002
  1,075
  1,151
  1,231
  1,313
  1,349
  1,440
  1,534
  1,633
  1,736
  1,844
  1,957
  2,076
  2,200
  2,331
  2,467
  2,611
  2,761
  2,919
  3,085
  3,259
  3,442
  3,633
  3,835
  4,047
Issuance/(repayment) of debt, $m
  -3
  316
  329
  342
  355
  370
  385
  400
  417
  434
  453
  472
  493
  514
  537
  561
  586
  613
  641
  671
  702
  735
  770
  807
  845
  886
  928
  973
  1,020
  1,070
  1,122
Issuance/(repurchase) of shares, $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
Cash from financing (excl. dividends), $m  
  3
  316
  329
  342
  355
  370
  385
  400
  417
  434
  453
  472
  493
  514
  537
  561
  586
  613
  641
  671
  702
  735
  770
  807
  845
  886
  928
  973
  1,020
  1,070
  1,122
Total cash flow (excl. dividends), $m
  96
  991
  1,067
  1,142
  1,220
  1,302
  1,387
  1,475
  1,568
  1,665
  1,766
  1,821
  1,932
  2,048
  2,170
  2,297
  2,431
  2,571
  2,717
  2,871
  3,033
  3,203
  3,381
  3,568
  3,764
  3,970
  4,187
  4,415
  4,654
  4,905
  5,169
Retained Cash Flow (-), $m
  -221
  -194
  -202
  -210
  -219
  -228
  -237
  -246
  -257
  -267
  -279
  -291
  -303
  -317
  -331
  -345
  -361
  -377
  -395
  -413
  -432
  -453
  -474
  -497
  -520
  -545
  -571
  -599
  -628
  -659
  -691
Prev. year cash balance distribution, $m
 
  1,007
  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
 
  1,804
  865
  932
  1,002
  1,074
  1,150
  1,229
  1,312
  1,398
  1,487
  1,531
  1,629
  1,732
  1,839
  1,952
  2,070
  2,193
  2,323
  2,458
  2,601
  2,750
  2,907
  3,071
  3,244
  3,425
  3,616
  3,816
  4,026
  4,246
  4,478
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
 
  1,729
  792
  811
  825
  833
  835
  830
  820
  803
  780
  727
  695
  658
  617
  573
  526
  477
  428
  379
  330
  284
  241
  201
  165
  133
  105
  82
  62
  46
  34
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

Autoliv, Inc., through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry worldwide. It operates through two segments, Passive Safety and Electronics. The company offers a range of products, including modules and components for passenger and driver-side airbags, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, whiplash protection systems, child seats, and components; and camera-based vision systems, night driving assists, automotive radars, brake controls, positioning systems, electronic control units, and other active safety systems, as well as passive safety electronic products, such as restraint electronics and crash sensors. It primarily serves car manufacturers. The company was founded in 1953 and is headquartered in Stockholm, Sweden.

FINANCIAL RATIOS  of  Autoliv (ALV)

Valuation Ratios
P/E Ratio 16.9
Price to Sales 1
Price to Book 2.6
Price to Tangible Book
Price to Cash Flow 11
Price to Free Cash Flow 26.5
Growth Rates
Sales Growth Rate 9.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.8%
Cap. Spend. - 3 Yr. Gr. Rate 5.6%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 36%
Total Debt to Equity 42%
Interest Coverage 14
Management Effectiveness
Return On Assets 7.8%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 11.1%
Ret/ On T. Cap. - 3 Yr. Avg. 10%
Return On Equity 15.9%
Return On Equity - 3 Yr. Avg. 13.9%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 20.4%
Gross Margin - 3 Yr. Avg. 20%
EBITDA Margin 12.4%
EBITDA Margin - 3 Yr. Avg. 11.7%
Operating Margin 8.4%
Oper. Margin - 3 Yr. Avg. 8.1%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. 7.5%
Net Profit Margin 5.6%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 30.1%
Eff/ Tax Rate - 3 Yr. Avg. 30.7%
Payout Ratio 35.8%

ALV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ALV stock intrinsic value calculation we used $10074 million for the last fiscal year's total revenue generated by Autoliv. The default revenue input number comes from 2016 income statement of Autoliv. 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 ALV stock valuation model: a) initial revenue growth rate of 7.3% 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 ALV is calculated based on our internal credit rating of Autoliv, 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 Autoliv.
    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 ALV stock the variable cost ratio is equal to 86.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $501 million in the base year in the intrinsic value calculation for ALV 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 4.2% for Autoliv.

Corporate tax rate of 27% is the nominal tax rate for Autoliv. 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 ALV 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 ALV are equal to 17.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Autoliv 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 ALV is equal to 5.3%. 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 - $3677 million for Autoliv - 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 87.97 million for Autoliv 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 Autoliv at the current share price and the inputted number of shares is $9.6 billion.

RELATED COMPANIES Price Int.Val. Rating
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DLPH Delphi Automot 94.10 96.04  hold

COMPANY NEWS

▶ Autoliv Declares Dividend   [05:33AM  PR Newswire]
▶ Autoliv Declares Dividend   [05:26AM  PR Newswire]
▶ ETFs with exposure to Autoliv, Inc. : August 7, 2017   [Aug-07-17 04:17PM  Capital Cube]
▶ Why Pimco Is Attracting So Much Money   [Aug-04-17 04:18PM  Bloomberg Video]
▶ Allianzs CFO on Pimco, M&A, Europe   [04:04AM  Bloomberg Video]
▶ Australian man dies in faulty air bag crash   [Jul-22-17 03:36AM  Reuters]
▶ Autoliv misses Street 2Q forecasts   [Jul-21-17 08:54PM  Associated Press]
▶ ETFs with exposure to Autoliv, Inc. : July 4, 2017   [Jul-04-17 02:30PM  Capital Cube]
▶ AllianzGI's McKinney Sees Equities Escape Low Oil Prices   [Jun-22-17 10:21AM  Bloomberg Video]
▶ AllianzGI CEO Says Pound Has Probably Bottomed Out   [Jun-20-17 05:45AM  Bloomberg Video]
▶ AllianzGI CEO Says Fed Hikes Continue Into 2018   [05:38AM  Bloomberg Video]
▶ El-Erian Says June Fed Rate Hike Still on the Table   [Jun-02-17 10:39AM  Bloomberg Video]
▶ 3 Top Dividend Stocks in the Autonomous Car Industry   [May-18-17 06:05PM  Motley Fool]
▶ Subaru Weighs Sweden's Autoliv as Camera Supplier   [May-17-17 06:27AM  Bloomberg]
▶ ETFs with exposure to Autoliv, Inc. : May 15, 2017   [May-15-17 03:13PM  Capital Cube]
▶ Allianz's CFO Says Pimco Success Story to Continue in 2Q   [May-12-17 02:43AM  Bloomberg Video]
▶ Mohamed El-Erian Is Less Pessimistic on Global Trade   [May-11-17 08:13AM  Bloomberg Video]
▶ El-Erian Says Banks Won't Cause the Next Crisis   [07:40AM  Bloomberg Video]
▶ ETFs with exposure to Autoliv, Inc. : May 4, 2017   [May-04-17 03:39PM  Capital Cube]
▶ AllianzGI CEO Says Markets Not Pricing Tapering   [06:19AM  Bloomberg Video]
▶ Autoliv, Inc. Value Analysis (NYSE:ALV) : May 2, 2017   [May-02-17 05:04PM  Capital Cube]
▶ Autoliv Inc.'s Results Drive Past Expectations   [Apr-28-17 01:45PM  Motley Fool]
▶ Autoliv beats Street 1Q forecasts   [06:36AM  Associated Press]
▶ How The NFL Makes Money   [Apr-27-17 11:18AM  Investopedia]
▶ 3 Top Stocks You've Been Overlooking   [Apr-24-17 10:40AM  Motley Fool]
▶ El-Erian Says Markets Will Be Unstable If Le Pen Wins   [Apr-21-17 03:41PM  Bloomberg Video]
▶ [$$] Autoliv Gets New Life   [Apr-06-17 12:59PM  Barrons.com]
▶ Wells Fargo Says Buy Autoliv Following Selloff   [Apr-05-17 09:12AM  Benzinga]
▶ 5 Top Dividend Stocks in Autonomous Vehicles   [Apr-02-17 09:05AM  Motley Fool]
Stock chart of ALV Financial statements of ALV
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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