Intrinsic value of A.O. Smith - AOS

Previous Close

$56.36

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$56.36

 
Intrinsic value premium content
 
Up/down potential premium content
 
Rating premium content
 
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 AOS 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 9.7

 

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, %
  5.87
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.34
  5.30
  5.27
  5.24
  5.22
  5.20
Revenue, $m
  2,686
  2,933
  3,191
  3,459
  3,738
  4,027
  4,329
  4,642
  4,967
  5,305
  5,657
  6,022
  6,403
  6,799
  7,212
  7,641
  8,090
  8,557
  9,045
  9,554
  10,086
  10,642
  11,223
  11,830
  12,466
  13,131
  13,827
  14,556
  15,319
  16,119
  16,957
Variable operating expenses, $m
 
  1,747
  1,896
  2,051
  2,212
  2,380
  2,554
  2,735
  2,924
  3,119
  3,323
  3,485
  3,705
  3,935
  4,173
  4,422
  4,681
  4,952
  5,234
  5,529
  5,837
  6,158
  6,494
  6,846
  7,214
  7,599
  8,002
  8,423
  8,865
  9,328
  9,813
Fixed operating expenses, $m
 
  650
  666
  683
  700
  717
  735
  754
  772
  792
  812
  832
  853
  874
  896
  918
  941
  965
  989
  1,014
  1,039
  1,065
  1,091
  1,119
  1,147
  1,175
  1,205
  1,235
  1,266
  1,297
  1,330
Total operating expenses, $m
  2,223
  2,397
  2,562
  2,734
  2,912
  3,097
  3,289
  3,489
  3,696
  3,911
  4,135
  4,317
  4,558
  4,809
  5,069
  5,340
  5,622
  5,917
  6,223
  6,543
  6,876
  7,223
  7,585
  7,965
  8,361
  8,774
  9,207
  9,658
  10,131
  10,625
  11,143
Operating income, $m
  463
  537
  629
  725
  826
  930
  1,039
  1,153
  1,271
  1,394
  1,523
  1,706
  1,845
  1,991
  2,143
  2,301
  2,467
  2,641
  2,822
  3,012
  3,211
  3,419
  3,637
  3,866
  4,105
  4,357
  4,621
  4,898
  5,189
  5,494
  5,814
EBITDA, $m
  528
  630
  726
  827
  931
  1,040
  1,154
  1,272
  1,395
  1,523
  1,657
  1,796
  1,941
  2,093
  2,251
  2,416
  2,589
  2,769
  2,958
  3,156
  3,362
  3,579
  3,806
  4,044
  4,293
  4,555
  4,829
  5,117
  5,419
  5,736
  6,070
Interest expense (income), $m
  7
  11
  16
  20
  25
  30
  35
  40
  46
  52
  58
  64
  71
  77
  85
  92
  100
  108
  116
  125
  134
  143
  153
  163
  174
  186
  198
  210
  223
  237
  251
Earnings before tax, $m
  463
  526
  613
  705
  801
  900
  1,004
  1,112
  1,225
  1,342
  1,465
  1,641
  1,774
  1,913
  2,058
  2,209
  2,368
  2,533
  2,706
  2,887
  3,077
  3,276
  3,484
  3,702
  3,931
  4,171
  4,423
  4,688
  4,966
  5,257
  5,564
Tax expense, $m
  136
  142
  166
  190
  216
  243
  271
  300
  331
  362
  395
  443
  479
  517
  556
  597
  639
  684
  731
  780
  831
  884
  941
  1,000
  1,061
  1,126
  1,194
  1,266
  1,341
  1,419
  1,502
Net income, $m
  327
  384
  448
  515
  585
  657
  733
  812
  894
  980
  1,069
  1,198
  1,295
  1,397
  1,502
  1,613
  1,728
  1,849
  1,975
  2,108
  2,246
  2,391
  2,543
  2,703
  2,870
  3,045
  3,229
  3,422
  3,625
  3,838
  4,061

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  755
  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
  2,891
  2,333
  2,538
  2,752
  2,973
  3,204
  3,444
  3,693
  3,952
  4,221
  4,500
  4,791
  5,094
  5,409
  5,737
  6,079
  6,436
  6,808
  7,196
  7,601
  8,024
  8,466
  8,928
  9,412
  9,917
  10,446
  11,000
  11,580
  12,187
  12,823
  13,490
Adjusted assets (=assets-cash), $m
  2,136
  2,333
  2,538
  2,752
  2,973
  3,204
  3,444
  3,693
  3,952
  4,221
  4,500
  4,791
  5,094
  5,409
  5,737
  6,079
  6,436
  6,808
  7,196
  7,601
  8,024
  8,466
  8,928
  9,412
  9,917
  10,446
  11,000
  11,580
  12,187
  12,823
  13,490
Revenue / Adjusted assets
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
  1.257
Average production assets, $m
  752
  821
  893
  968
  1,047
  1,128
  1,212
  1,300
  1,391
  1,485
  1,584
  1,686
  1,793
  1,904
  2,019
  2,140
  2,265
  2,396
  2,533
  2,675
  2,824
  2,980
  3,142
  3,313
  3,490
  3,677
  3,872
  4,076
  4,289
  4,513
  4,748
Working capital, $m
  796
  53
  57
  62
  67
  72
  78
  84
  89
  95
  102
  108
  115
  122
  130
  138
  146
  154
  163
  172
  182
  192
  202
  213
  224
  236
  249
  262
  276
  290
  305
Total debt, $m
  324
  444
  575
  712
  854
  1,002
  1,155
  1,315
  1,481
  1,653
  1,833
  2,019
  2,213
  2,415
  2,626
  2,845
  3,073
  3,312
  3,560
  3,820
  4,091
  4,375
  4,671
  4,981
  5,305
  5,644
  5,999
  6,371
  6,760
  7,168
  7,595
Total liabilities, $m
  1,376
  1,496
  1,627
  1,764
  1,906
  2,054
  2,207
  2,367
  2,533
  2,705
  2,885
  3,071
  3,265
  3,467
  3,678
  3,897
  4,125
  4,364
  4,612
  4,872
  5,143
  5,427
  5,723
  6,033
  6,357
  6,696
  7,051
  7,423
  7,812
  8,220
  8,647
Total equity, $m
  1,515
  838
  911
  988
  1,067
  1,150
  1,236
  1,326
  1,419
  1,515
  1,616
  1,720
  1,829
  1,942
  2,060
  2,182
  2,310
  2,444
  2,583
  2,729
  2,881
  3,039
  3,205
  3,379
  3,560
  3,750
  3,949
  4,157
  4,375
  4,604
  4,843
Total liabilities and equity, $m
  2,891
  2,334
  2,538
  2,752
  2,973
  3,204
  3,443
  3,693
  3,952
  4,220
  4,501
  4,791
  5,094
  5,409
  5,738
  6,079
  6,435
  6,808
  7,195
  7,601
  8,024
  8,466
  8,928
  9,412
  9,917
  10,446
  11,000
  11,580
  12,187
  12,824
  13,490
Debt-to-equity ratio
  0.214
  0.530
  0.630
  0.720
  0.800
  0.870
  0.930
  0.990
  1.040
  1.090
  1.130
  1.170
  1.210
  1.240
  1.270
  1.300
  1.330
  1.360
  1.380
  1.400
  1.420
  1.440
  1.460
  1.470
  1.490
  1.500
  1.520
  1.530
  1.550
  1.560
  1.570
Adjusted equity ratio
  0.356
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359
  0.359

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  327
  384
  448
  515
  585
  657
  733
  812
  894
  980
  1,069
  1,198
  1,295
  1,397
  1,502
  1,613
  1,728
  1,849
  1,975
  2,108
  2,246
  2,391
  2,543
  2,703
  2,870
  3,045
  3,229
  3,422
  3,625
  3,838
  4,061
Depreciation, amort., depletion, $m
  65
  93
  97
  101
  105
  110
  114
  119
  124
  129
  134
  91
  96
  102
  109
  115
  122
  129
  136
  144
  152
  160
  169
  178
  188
  198
  208
  219
  231
  243
  255
Funds from operations, $m
  501
  477
  545
  616
  690
  767
  847
  931
  1,018
  1,109
  1,204
  1,289
  1,392
  1,499
  1,611
  1,728
  1,850
  1,978
  2,112
  2,251
  2,398
  2,551
  2,712
  2,881
  3,057
  3,243
  3,437
  3,641
  3,855
  4,080
  4,317
Change in working capital, $m
  54
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  10
  11
  11
  12
  13
  13
  14
  14
  15
Cash from operations, $m
  447
  491
  540
  611
  685
  762
  842
  925
  1,012
  1,103
  1,197
  1,282
  1,385
  1,492
  1,603
  1,720
  1,842
  1,969
  2,103
  2,242
  2,388
  2,541
  2,702
  2,870
  3,046
  3,231
  3,425
  3,628
  3,842
  4,066
  4,302
Maintenance CAPEX, $m
  0
  -40
  -44
  -48
  -52
  -56
  -61
  -65
  -70
  -75
  -80
  -85
  -91
  -96
  -102
  -109
  -115
  -122
  -129
  -136
  -144
  -152
  -160
  -169
  -178
  -188
  -198
  -208
  -219
  -231
  -243
New CAPEX, $m
  -81
  -69
  -72
  -75
  -78
  -81
  -84
  -88
  -91
  -95
  -98
  -102
  -107
  -111
  -116
  -120
  -125
  -131
  -137
  -143
  -149
  -156
  -163
  -170
  -178
  -186
  -195
  -204
  -214
  -224
  -235
Cash from investing activities, $m
  -300
  -109
  -116
  -123
  -130
  -137
  -145
  -153
  -161
  -170
  -178
  -187
  -198
  -207
  -218
  -229
  -240
  -253
  -266
  -279
  -293
  -308
  -323
  -339
  -356
  -374
  -393
  -412
  -433
  -455
  -478
Free cash flow, $m
  147
  381
  424
  488
  555
  624
  697
  773
  851
  933
  1,019
  1,095
  1,188
  1,285
  1,386
  1,491
  1,602
  1,717
  1,837
  1,964
  2,096
  2,234
  2,379
  2,531
  2,690
  2,857
  3,032
  3,216
  3,409
  3,612
  3,824
Issuance/(repayment) of debt, $m
  74
  127
  131
  137
  142
  148
  154
  160
  166
  172
  179
  186
  194
  202
  210
  219
  229
  238
  249
  260
  271
  283
  296
  310
  324
  339
  355
  372
  389
  408
  427
Issuance/(repurchase) of shares, $m
  -130
  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  
  -56
  127
  131
  137
  142
  148
  154
  160
  166
  172
  179
  186
  194
  202
  210
  219
  229
  238
  249
  260
  271
  283
  296
  310
  324
  339
  355
  372
  389
  408
  427
Total cash flow (excl. dividends), $m
  91
  508
  555
  625
  697
  772
  851
  932
  1,017
  1,106
  1,198
  1,281
  1,382
  1,487
  1,596
  1,710
  1,830
  1,955
  2,086
  2,223
  2,367
  2,517
  2,675
  2,840
  3,014
  3,196
  3,387
  3,588
  3,798
  4,019
  4,252
Retained Cash Flow (-), $m
  -73
  -71
  -74
  -77
  -80
  -83
  -86
  -89
  -93
  -97
  -100
  -104
  -109
  -113
  -118
  -123
  -128
  -134
  -139
  -145
  -152
  -159
  -166
  -174
  -182
  -190
  -199
  -208
  -218
  -228
  -239
Prev. year cash balance distribution, $m
 
  748
  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
 
  1,185
  482
  548
  617
  690
  765
  843
  924
  1,009
  1,098
  1,177
  1,273
  1,373
  1,478
  1,588
  1,702
  1,822
  1,947
  2,078
  2,215
  2,359
  2,509
  2,667
  2,832
  3,006
  3,188
  3,379
  3,580
  3,791
  4,012
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
 
  1,136
  441
  477
  508
  534
  555
  569
  578
  580
  576
  559
  543
  522
  496
  466
  433
  396
  359
  320
  281
  244
  208
  175
  144
  117
  93
  73
  55
  41
  30
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

A. O. Smith Corporation manufactures and markets residential and commercial gas, gas tankless, electric water heaters, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and expansion tanks, commercial solar water heating systems, swimming pool and spa heaters, and related products and parts. It also provides heat pump and solar units, as well as combi boilers; and air purification products. The company distributes its products through independent wholesale plumbing distributors, as well as through retail channels consisting of hardware and home center chains, and manufacturer representative firms. A. O. Smith Corporation is headquartered in Milwaukee, Wisconsin.

FINANCIAL RATIOS  of  A.O. Smith (AOS)

Valuation Ratios
P/E Ratio 29.9
Price to Sales 3.6
Price to Book 6.5
Price to Tangible Book
Price to Cash Flow 21.9
Price to Free Cash Flow 26.7
Growth Rates
Sales Growth Rate 5.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 11%
Cap. Spend. - 3 Yr. Gr. Rate -3.7%
Financial Strength
Quick Ratio 108
Current Ratio 0
LT Debt to Equity 20.9%
Total Debt to Equity 21.4%
Interest Coverage 67
Management Effectiveness
Return On Assets 12%
Ret/ On Assets - 3 Yr. Avg. 10.6%
Return On Total Capital 18.5%
Ret/ On T. Cap. - 3 Yr. Avg. 16.3%
Return On Equity 22.1%
Return On Equity - 3 Yr. Avg. 19.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 41.7%
Gross Margin - 3 Yr. Avg. 39.3%
EBITDA Margin 19.9%
EBITDA Margin - 3 Yr. Avg. 17.8%
Operating Margin 17.2%
Oper. Margin - 3 Yr. Avg. 15.1%
Pre-Tax Margin 17.2%
Pre-Tax Margin - 3 Yr. Avg. 15.1%
Net Profit Margin 12.2%
Net Profit Margin - 3 Yr. Avg. 10.7%
Effective Tax Rate 29.4%
Eff/ Tax Rate - 3 Yr. Avg. 28.9%
Payout Ratio 25.7%

AOS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AOS stock intrinsic value calculation we used $2686 million for the last fiscal year's total revenue generated by A.O. Smith. The default revenue input number comes from 2016 income statement of A.O. Smith. 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 AOS stock valuation model: a) initial revenue growth rate of 9.2% 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 4.3%, whose default value for AOS is calculated based on our internal credit rating of A.O. Smith, 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 A.O. Smith.
    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 AOS stock the variable cost ratio is equal to 59.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $634 million in the base year in the intrinsic value calculation for AOS 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 A.O. Smith.

Corporate tax rate of 27% is the nominal tax rate for A.O. Smith. 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 AOS 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 AOS are equal to 28%.

Life of production assets of 18.6 years is the average useful life of capital assets used in A.O. Smith 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 AOS is equal to 1.8%. 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 - $1515 million for A.O. Smith - 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 171.3 million for A.O. Smith 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 A.O. Smith at the current share price and the inputted number of shares is $9.7 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
CUO Continental Ma 19.50 prem.  prem.
BWXT BWX Technologi 46.34 prem.  prem.
LII Lennox Interna 187.61 prem.  prem.
AAON AAON 36.20 prem.  prem.
FELE Franklin Elect 39.80 prem.  prem.

COMPANY NEWS

▶ Long after riots, Milwaukee neighborhood sees little change   [Jun-23-17 06:11PM  Associated Press]
▶ Roundtable: 1 Underdog Stock I'm Watching   [Jun-15-17 04:24PM  Motley Fool]
▶ ETFs with exposure to A. O. Smith Corp. : June 12, 2017   [Jun-12-17 01:48PM  Capital Cube]
▶ ETFs with exposure to A. O. Smith Corp. : June 1, 2017   [Jun-01-17 01:37PM  Capital Cube]
▶ ETFs with exposure to A. O. Smith Corp. : May 22, 2017   [May-22-17 01:21PM  Capital Cube]
▶ Can A.O. Smith Become a Dividend Stock?   [May-16-17 01:14PM  Motley Fool]
▶ Like Growth? Then You'll Love These 3 Stocks   [May-14-17 01:26PM  Motley Fool]
▶ 7 Rising Stocks That Beat the Market   [May-09-17 03:47PM  GuruFocus.com]
▶ China continues to drive growth for A.O. Smith; firm raises outlook   [01:10PM  American City Business Journals]
▶ A.O. Smith tops Street 1Q forecasts   [08:08AM  Associated Press]
▶ A. O. Smith declares quarterly dividend   [Apr-12-17 06:05PM  PR Newswire]
▶ 3 Growth Stocks That Could Soar More Than Nvidia   [Apr-02-17 04:06PM  Motley Fool]
▶ A. O. Smith announces 17 percent dividend increase   [Jan-20-17 04:15PM  PR Newswire]
▶ A. O. Smith names Dr. Ilham Kadri to board of directors   [Dec-12-16 04:11PM  PR Newswire]
Stock chart of AOS Financial statements of AOS Annual reports of AOS
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.