Intrinsic value of Ametek - AME

Previous Close

$71.71

  Intrinsic Value

$93.07

stock screener

  Rating & Target

buy

+30%

Previous close

$71.71

 
Intrinsic value

$93.07

 
Up/down potential

+30%

 
Rating

buy

We calculate the intrinsic value of AME 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 16.6

 

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, %
  -3.37
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.87
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.59
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
Revenue, $m
  3,840
  4,182
  4,538
  4,908
  5,293
  5,693
  6,109
  6,541
  6,990
  7,456
  7,942
  8,447
  8,973
  9,520
  10,091
  10,685
  11,305
  11,952
  12,628
  13,333
  14,070
  14,840
  15,645
  16,488
  17,369
  18,292
  19,257
  20,269
  21,328
  22,438
  23,601
Variable operating expenses, $m
 
  878
  929
  982
  1,037
  1,094
  1,153
  1,215
  1,279
  1,345
  1,414
  1,204
  1,279
  1,357
  1,439
  1,524
  1,612
  1,704
  1,801
  1,901
  2,006
  2,116
  2,231
  2,351
  2,477
  2,608
  2,746
  2,890
  3,041
  3,199
  3,365
Fixed operating expenses, $m
 
  2,319
  2,377
  2,436
  2,497
  2,559
  2,623
  2,689
  2,756
  2,825
  2,896
  2,968
  3,042
  3,118
  3,196
  3,276
  3,358
  3,442
  3,528
  3,616
  3,707
  3,799
  3,894
  3,992
  4,091
  4,194
  4,298
  4,406
  4,516
  4,629
  4,745
Total operating expenses, $m
  3,038
  3,197
  3,306
  3,418
  3,534
  3,653
  3,776
  3,904
  4,035
  4,170
  4,310
  4,172
  4,321
  4,475
  4,635
  4,800
  4,970
  5,146
  5,329
  5,517
  5,713
  5,915
  6,125
  6,343
  6,568
  6,802
  7,044
  7,296
  7,557
  7,828
  8,110
Operating income, $m
  802
  985
  1,232
  1,490
  1,759
  2,040
  2,332
  2,637
  2,955
  3,286
  3,632
  4,275
  4,651
  5,045
  5,456
  5,886
  6,335
  6,806
  7,299
  7,816
  8,357
  8,925
  9,520
  10,145
  10,801
  11,490
  12,213
  12,973
  13,771
  14,610
  15,491
EBITDA, $m
  982
  1,348
  1,602
  1,867
  2,144
  2,432
  2,733
  3,046
  3,372
  3,713
  4,068
  4,438
  4,825
  5,229
  5,651
  6,092
  6,554
  7,037
  7,543
  8,074
  8,629
  9,212
  9,823
  10,464
  11,137
  11,844
  12,586
  13,365
  14,184
  15,044
  15,948
Interest expense (income), $m
  0
  72
  83
  95
  107
  119
  132
  146
  160
  174
  189
  205
  221
  239
  256
  275
  294
  314
  335
  357
  380
  404
  429
  455
  482
  511
  541
  572
  605
  639
  675
Earnings before tax, $m
  693
  913
  1,149
  1,396
  1,653
  1,921
  2,200
  2,492
  2,795
  3,112
  3,443
  4,070
  4,430
  4,806
  5,199
  5,611
  6,041
  6,492
  6,964
  7,459
  7,977
  8,521
  9,091
  9,690
  10,319
  10,979
  11,672
  12,401
  13,166
  13,970
  14,816
Tax expense, $m
  181
  246
  310
  377
  446
  519
  594
  673
  755
  840
  930
  1,099
  1,196
  1,298
  1,404
  1,515
  1,631
  1,753
  1,880
  2,014
  2,154
  2,301
  2,455
  2,616
  2,786
  2,964
  3,151
  3,348
  3,555
  3,772
  4,000
Net income, $m
  512
  666
  839
  1,019
  1,206
  1,402
  1,606
  1,819
  2,041
  2,272
  2,513
  2,971
  3,234
  3,508
  3,796
  4,096
  4,410
  4,739
  5,084
  5,445
  5,823
  6,220
  6,637
  7,074
  7,533
  8,015
  8,521
  9,052
  9,611
  10,198
  10,816

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  717
  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
  7,101
  6,946
  7,538
  8,153
  8,792
  9,457
  10,147
  10,865
  11,611
  12,386
  13,193
  14,032
  14,905
  15,814
  16,762
  17,750
  18,780
  19,854
  20,976
  22,148
  23,372
  24,651
  25,989
  27,388
  28,852
  30,385
  31,989
  33,669
  35,429
  37,273
  39,205
Adjusted assets (=assets-cash), $m
  6,384
  6,946
  7,538
  8,153
  8,792
  9,457
  10,147
  10,865
  11,611
  12,386
  13,193
  14,032
  14,905
  15,814
  16,762
  17,750
  18,780
  19,854
  20,976
  22,148
  23,372
  24,651
  25,989
  27,388
  28,852
  30,385
  31,989
  33,669
  35,429
  37,273
  39,205
Revenue / Adjusted assets
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
Average production assets, $m
  1,940
  2,112
  2,292
  2,478
  2,673
  2,875
  3,085
  3,303
  3,530
  3,766
  4,011
  4,266
  4,531
  4,808
  5,096
  5,396
  5,709
  6,036
  6,377
  6,733
  7,105
  7,494
  7,901
  8,326
  8,771
  9,237
  9,725
  10,236
  10,771
  11,331
  11,919
Working capital, $m
  1,004
  615
  667
  721
  778
  837
  898
  961
  1,027
  1,096
  1,167
  1,242
  1,319
  1,399
  1,483
  1,571
  1,662
  1,757
  1,856
  1,960
  2,068
  2,181
  2,300
  2,424
  2,553
  2,689
  2,831
  2,980
  3,135
  3,298
  3,469
Total debt, $m
  2,342
  2,374
  2,704
  3,047
  3,404
  3,775
  4,160
  4,561
  4,977
  5,410
  5,860
  6,328
  6,815
  7,322
  7,851
  8,402
  8,977
  9,577
  10,203
  10,856
  11,539
  12,253
  13,000
  13,781
  14,598
  15,453
  16,348
  17,285
  18,267
  19,296
  20,374
Total liabilities, $m
  3,844
  3,876
  4,206
  4,549
  4,906
  5,277
  5,662
  6,063
  6,479
  6,912
  7,362
  7,830
  8,317
  8,824
  9,353
  9,904
  10,479
  11,079
  11,705
  12,358
  13,041
  13,755
  14,502
  15,283
  16,100
  16,955
  17,850
  18,787
  19,769
  20,798
  21,876
Total equity, $m
  3,257
  3,070
  3,332
  3,603
  3,886
  4,180
  4,485
  4,802
  5,132
  5,475
  5,831
  6,202
  6,588
  6,990
  7,409
  7,845
  8,301
  8,776
  9,271
  9,789
  10,330
  10,896
  11,487
  12,106
  12,753
  13,430
  14,139
  14,882
  15,660
  16,474
  17,328
Total liabilities and equity, $m
  7,101
  6,946
  7,538
  8,152
  8,792
  9,457
  10,147
  10,865
  11,611
  12,387
  13,193
  14,032
  14,905
  15,814
  16,762
  17,749
  18,780
  19,855
  20,976
  22,147
  23,371
  24,651
  25,989
  27,389
  28,853
  30,385
  31,989
  33,669
  35,429
  37,272
  39,204
Debt-to-equity ratio
  0.719
  0.770
  0.810
  0.850
  0.880
  0.900
  0.930
  0.950
  0.970
  0.990
  1.000
  1.020
  1.030
  1.050
  1.060
  1.070
  1.080
  1.090
  1.100
  1.110
  1.120
  1.120
  1.130
  1.140
  1.140
  1.150
  1.160
  1.160
  1.170
  1.170
  1.180
Adjusted equity ratio
  0.398
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  512
  666
  839
  1,019
  1,206
  1,402
  1,606
  1,819
  2,041
  2,272
  2,513
  2,971
  3,234
  3,508
  3,796
  4,096
  4,410
  4,739
  5,084
  5,445
  5,823
  6,220
  6,637
  7,074
  7,533
  8,015
  8,521
  9,052
  9,611
  10,198
  10,816
Depreciation, amort., depletion, $m
  180
  363
  370
  377
  384
  392
  400
  408
  417
  426
  436
  163
  174
  184
  195
  207
  219
  231
  244
  258
  272
  287
  303
  319
  336
  354
  373
  392
  413
  434
  457
Funds from operations, $m
  806
  1,029
  1,209
  1,396
  1,591
  1,794
  2,006
  2,227
  2,458
  2,698
  2,949
  3,134
  3,407
  3,693
  3,991
  4,303
  4,629
  4,970
  5,328
  5,703
  6,096
  6,507
  6,939
  7,393
  7,869
  8,368
  8,893
  9,445
  10,024
  10,633
  11,272
Change in working capital, $m
  49
  50
  52
  54
  57
  59
  61
  64
  66
  69
  71
  74
  77
  80
  84
  87
  91
  95
  99
  104
  108
  113
  118
  124
  130
  136
  142
  149
  156
  163
  171
Cash from operations, $m
  757
  979
  1,156
  1,341
  1,534
  1,735
  1,945
  2,164
  2,392
  2,630
  2,877
  3,060
  3,330
  3,612
  3,907
  4,215
  4,538
  4,875
  5,229
  5,599
  5,987
  6,394
  6,821
  7,269
  7,739
  8,233
  8,751
  9,296
  9,868
  10,469
  11,101
Maintenance CAPEX, $m
  0
  -74
  -81
  -88
  -95
  -102
  -110
  -118
  -127
  -135
  -144
  -154
  -163
  -174
  -184
  -195
  -207
  -219
  -231
  -244
  -258
  -272
  -287
  -303
  -319
  -336
  -354
  -373
  -392
  -413
  -434
New CAPEX, $m
  -63
  -172
  -180
  -187
  -194
  -202
  -210
  -218
  -227
  -236
  -245
  -255
  -265
  -276
  -288
  -300
  -313
  -327
  -341
  -356
  -372
  -389
  -407
  -425
  -445
  -466
  -488
  -511
  -535
  -561
  -587
Cash from investing activities, $m
  -452
  -246
  -261
  -275
  -289
  -304
  -320
  -336
  -354
  -371
  -389
  -409
  -428
  -450
  -472
  -495
  -520
  -546
  -572
  -600
  -630
  -661
  -694
  -728
  -764
  -802
  -842
  -884
  -927
  -974
  -1,021
Free cash flow, $m
  305
  733
  896
  1,066
  1,245
  1,431
  1,625
  1,828
  2,039
  2,259
  2,488
  2,651
  2,901
  3,162
  3,435
  3,720
  4,018
  4,330
  4,656
  4,999
  5,357
  5,733
  6,127
  6,541
  6,975
  7,431
  7,910
  8,413
  8,941
  9,496
  10,080
Issuance/(repayment) of debt, $m
  457
  311
  330
  343
  357
  371
  385
  400
  416
  433
  450
  468
  487
  507
  529
  551
  575
  600
  626
  654
  683
  714
  746
  781
  817
  855
  895
  937
  982
  1,029
  1,078
Issuance/(repurchase) of shares, $m
  -336
  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  
  140
  311
  330
  343
  357
  371
  385
  400
  416
  433
  450
  468
  487
  507
  529
  551
  575
  600
  626
  654
  683
  714
  746
  781
  817
  855
  895
  937
  982
  1,029
  1,078
Total cash flow (excl. dividends), $m
  419
  1,044
  1,225
  1,410
  1,602
  1,802
  2,010
  2,228
  2,455
  2,691
  2,938
  3,119
  3,388
  3,670
  3,963
  4,271
  4,593
  4,929
  5,282
  5,652
  6,040
  6,447
  6,874
  7,322
  7,792
  8,286
  8,805
  9,350
  9,923
  10,525
  11,158
Retained Cash Flow (-), $m
  -2
  -251
  -261
  -272
  -283
  -294
  -305
  -317
  -330
  -343
  -356
  -371
  -386
  -402
  -419
  -437
  -455
  -475
  -496
  -518
  -541
  -565
  -591
  -618
  -647
  -677
  -709
  -743
  -778
  -815
  -854
Prev. year cash balance distribution, $m
 
  438
  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
 
  1,231
  964
  1,138
  1,319
  1,508
  1,705
  1,911
  2,125
  2,348
  2,582
  2,749
  3,002
  3,268
  3,545
  3,834
  4,137
  4,454
  4,787
  5,134
  5,499
  5,881
  6,282
  6,703
  7,145
  7,609
  8,096
  8,607
  9,145
  9,710
  10,304
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  1,171
  869
  966
  1,049
  1,116
  1,168
  1,203
  1,221
  1,221
  1,206
  1,143
  1,101
  1,046
  980
  906
  825
  740
  654
  569
  487
  409
  338
  274
  217
  169
  129
  96
  69
  49
  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

AMETEK, Inc. is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets. EIG provides process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor and automation markets. It makes monitoring and metering devices, industrial battery chargers and uninterruptible power supplies, programmable power equipment, electrical test equipment and gas turbine sensors. EMG is a differentiated supplier of precision motion control solutions, thermal management systems, specialty metals and electrical interconnects. Its end markets include medical, automation, petrochemical and other industrial markets. It operates a network of aviation maintenance, repair and overhaul (MRO) facilities.

FINANCIAL RATIOS  of  Ametek (AME)

Valuation Ratios
P/E Ratio 32.1
Price to Sales 4.3
Price to Book 5.1
Price to Tangible Book
Price to Cash Flow 21.7
Price to Free Cash Flow 23.7
Growth Rates
Sales Growth Rate -3.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -8.7%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 63.3%
Total Debt to Equity 71.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.4%
Ret/ On Assets - 3 Yr. Avg. 9.3%
Return On Total Capital 9.5%
Ret/ On T. Cap. - 3 Yr. Avg. 11.1%
Return On Equity 15.7%
Return On Equity - 3 Yr. Avg. 17.4%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 35.9%
Gross Margin - 3 Yr. Avg. 35.7%
EBITDA Margin 22.7%
EBITDA Margin - 3 Yr. Avg. 24.8%
Operating Margin 20.9%
Oper. Margin - 3 Yr. Avg. 22%
Pre-Tax Margin 18%
Pre-Tax Margin - 3 Yr. Avg. 19.4%
Net Profit Margin 13.3%
Net Profit Margin - 3 Yr. Avg. 14.2%
Effective Tax Rate 26.1%
Eff/ Tax Rate - 3 Yr. Avg. 26.7%
Payout Ratio 16.2%

AME stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AME stock intrinsic value calculation we used $3840 million for the last fiscal year's total revenue generated by Ametek. The default revenue input number comes from 2016 income statement of Ametek. 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 AME stock valuation model: a) initial revenue growth rate of 8.9% 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 5.1%, whose default value for AME is calculated based on our internal credit rating of Ametek, 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 Ametek.
    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 AME stock the variable cost ratio is equal to 21.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2262 million in the base year in the intrinsic value calculation for AME 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 Ametek.

Corporate tax rate of 27% is the nominal tax rate for Ametek. 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 AME 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 AME are equal to 50.5%.

Life of production assets of 26.1 years is the average useful life of capital assets used in Ametek 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 AME is equal to 14.7%. 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 - $3257 million for Ametek - 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 230.825 million for Ametek 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 Ametek at the current share price and the inputted number of shares is $16.6 billion.

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COMPANY NEWS

▶ ETFs with exposure to AMETEK, Inc. : December 12, 2017   [Dec-12-17 12:43PM  Capital Cube]
▶ Ametek Earns Composite Rating Upgrade   [Dec-05-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to AMETEK, Inc. : November 30, 2017   [Nov-30-17 01:17PM  Capital Cube]
▶ Five Companies Hit 52-Week Highs   [Nov-21-17 10:36AM  GuruFocus.com]
▶ ETFs with exposure to AMETEK, Inc. : November 20, 2017   [Nov-20-17 11:32AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : November 9, 2017   [Nov-09-17 11:48AM  Capital Cube]
▶ AMETEK Inc (AME): Poised For Long-Term Success?   [Nov-02-17 04:42PM  Simply Wall St.]
▶ ETFs with exposure to AMETEK, Inc. : October 24, 2017   [Oct-24-17 09:34AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : October 13, 2017   [Oct-13-17 10:29AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : September 20, 2017   [Sep-20-17 05:10PM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : September 7, 2017   [Sep-07-17 12:23PM  Capital Cube]
▶ AMETEK, Inc. Value Analysis (NYSE:AME) : August 7, 2017   [Aug-07-17 05:12PM  Capital Cube]
▶ Ametek (AME) Beats on Earnings, Revenues in Q2   [Aug-02-17 12:31PM  Zacks]
▶ The Top Dividend-Growing Healthcare and Industrials Stocks   [Jul-12-17 02:44PM  Market Realist]
▶ ETFs with exposure to AMETEK, Inc. : July 4, 2017   [Jul-04-17 02:31PM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : June 22, 2017   [Jun-22-17 03:19PM  Capital Cube]
▶ AMETEK Executive Chairman Frank S. Hermance To Retire   [Jun-05-17 08:00AM  PR Newswire]
Financial statements of AME
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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