Intrinsic value of Arcos Dorados Holdings Cl A - ARCO

Previous Close

$8.65

  Intrinsic Value

$5.04

stock screener

  Rating & Target

sell

-42%

  Value-price divergence*

-184%

Previous close

$8.65

 
Intrinsic value

$5.04

 
Up/down potential

-42%

 
Rating

sell

 
Value-price divergence*

-184%

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

We calculate the intrinsic value of ARCO 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 1.9

 

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, %
  -4.06
  18.50
  17.15
  15.94
  14.84
  13.86
  12.97
  12.17
  11.46
  10.81
  10.23
  9.71
  9.24
  8.81
  8.43
  8.09
  7.78
  7.50
  7.25
  7.03
  6.82
  6.64
  6.48
  6.33
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
  5.64
Revenue, $m
  2,929
  3,471
  4,066
  4,714
  5,414
  6,164
  6,963
  7,811
  8,706
  9,647
  10,634
  11,667
  12,744
  13,867
  15,037
  16,253
  17,517
  18,831
  20,197
  21,616
  23,091
  24,624
  26,219
  27,879
  29,606
  31,405
  33,280
  35,234
  37,273
  39,400
  41,620
Variable operating expenses, $m
 
  3,363
  3,940
  4,567
  5,245
  5,972
  6,747
  7,568
  8,435
  9,347
  10,303
  11,302
  12,346
  13,434
  14,567
  15,745
  16,970
  18,243
  19,566
  20,941
  22,369
  23,855
  25,400
  27,008
  28,681
  30,424
  32,240
  34,134
  36,108
  38,169
  40,320
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
  2,750
  3,363
  3,940
  4,567
  5,245
  5,972
  6,747
  7,568
  8,435
  9,347
  10,303
  11,302
  12,346
  13,434
  14,567
  15,745
  16,970
  18,243
  19,566
  20,941
  22,369
  23,855
  25,400
  27,008
  28,681
  30,424
  32,240
  34,134
  36,108
  38,169
  40,320
Operating income, $m
  179
  108
  126
  147
  168
  192
  217
  243
  271
  301
  332
  364
  398
  433
  470
  508
  547
  588
  631
  675
  721
  769
  819
  871
  925
  981
  1,040
  1,101
  1,164
  1,231
  1,300
EBITDA, $m
  272
  213
  249
  289
  332
  377
  426
  478
  533
  591
  651
  714
  780
  849
  921
  995
  1,073
  1,153
  1,237
  1,324
  1,414
  1,508
  1,606
  1,707
  1,813
  1,923
  2,038
  2,158
  2,283
  2,413
  2,549
Interest expense (income), $m
  77
  69
  95
  124
  155
  189
  225
  263
  304
  347
  392
  440
  489
  541
  595
  651
  710
  770
  834
  899
  967
  1,038
  1,112
  1,189
  1,269
  1,352
  1,438
  1,528
  1,622
  1,720
  1,822
Earnings before tax, $m
  139
  39
  31
  23
  14
  3
  -8
  -20
  -33
  -46
  -61
  -75
  -91
  -108
  -125
  -143
  -162
  -182
  -203
  -224
  -246
  -269
  -293
  -318
  -344
  -371
  -398
  -428
  -458
  -489
  -522
Tax expense, $m
  60
  10
  8
  6
  4
  1
  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
Net income, $m
  79
  28
  23
  17
  10
  2
  -8
  -20
  -33
  -46
  -61
  -75
  -91
  -108
  -125
  -143
  -162
  -182
  -203
  -224
  -246
  -269
  -293
  -318
  -344
  -371
  -398
  -428
  -458
  -489
  -522

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  195
  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
  1,505
  1,552
  1,818
  2,108
  2,421
  2,757
  3,114
  3,493
  3,894
  4,315
  4,756
  5,218
  5,700
  6,202
  6,725
  7,269
  7,834
  8,422
  9,033
  9,667
  10,327
  11,013
  11,726
  12,468
  13,241
  14,045
  14,884
  15,758
  16,669
  17,621
  18,614
Adjusted assets (=assets-cash), $m
  1,310
  1,552
  1,818
  2,108
  2,421
  2,757
  3,114
  3,493
  3,894
  4,315
  4,756
  5,218
  5,700
  6,202
  6,725
  7,269
  7,834
  8,422
  9,033
  9,667
  10,327
  11,013
  11,726
  12,468
  13,241
  14,045
  14,884
  15,758
  16,669
  17,621
  18,614
Revenue / Adjusted assets
  2.236
  2.236
  2.237
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
  2.236
Average production assets, $m
  878
  1,041
  1,220
  1,414
  1,624
  1,849
  2,089
  2,343
  2,612
  2,894
  3,190
  3,500
  3,823
  4,160
  4,511
  4,876
  5,255
  5,649
  6,059
  6,485
  6,927
  7,387
  7,866
  8,364
  8,882
  9,422
  9,984
  10,570
  11,182
  11,820
  12,486
Working capital, $m
  -103
  -319
  -374
  -434
  -498
  -567
  -641
  -719
  -801
  -888
  -978
  -1,073
  -1,172
  -1,276
  -1,383
  -1,495
  -1,612
  -1,732
  -1,858
  -1,989
  -2,124
  -2,265
  -2,412
  -2,565
  -2,724
  -2,889
  -3,062
  -3,242
  -3,429
  -3,625
  -3,829
Total debt, $m
  580
  761
  990
  1,239
  1,508
  1,797
  2,104
  2,430
  2,775
  3,137
  3,516
  3,913
  4,328
  4,760
  5,209
  5,677
  6,163
  6,669
  7,194
  7,740
  8,307
  8,897
  9,510
  10,149
  10,813
  11,505
  12,226
  12,978
  13,762
  14,580
  15,434
Total liabilities, $m
  1,154
  1,335
  1,564
  1,813
  2,082
  2,371
  2,678
  3,004
  3,349
  3,711
  4,090
  4,487
  4,902
  5,334
  5,783
  6,251
  6,737
  7,243
  7,768
  8,314
  8,881
  9,471
  10,084
  10,723
  11,387
  12,079
  12,800
  13,552
  14,336
  15,154
  16,008
Total equity, $m
  351
  217
  255
  295
  339
  386
  436
  489
  545
  604
  666
  730
  798
  868
  941
  1,018
  1,097
  1,179
  1,265
  1,353
  1,446
  1,542
  1,642
  1,746
  1,854
  1,966
  2,084
  2,206
  2,334
  2,467
  2,606
Total liabilities and equity, $m
  1,505
  1,552
  1,819
  2,108
  2,421
  2,757
  3,114
  3,493
  3,894
  4,315
  4,756
  5,217
  5,700
  6,202
  6,724
  7,269
  7,834
  8,422
  9,033
  9,667
  10,327
  11,013
  11,726
  12,469
  13,241
  14,045
  14,884
  15,758
  16,670
  17,621
  18,614
Debt-to-equity ratio
  1.652
  3.500
  3.890
  4.200
  4.450
  4.660
  4.830
  4.970
  5.090
  5.190
  5.280
  5.360
  5.420
  5.480
  5.530
  5.580
  5.620
  5.660
  5.690
  5.720
  5.750
  5.770
  5.790
  5.810
  5.830
  5.850
  5.870
  5.880
  5.900
  5.910
  5.920
Adjusted equity ratio
  0.119
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140
  0.140

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  79
  28
  23
  17
  10
  2
  -8
  -20
  -33
  -46
  -61
  -75
  -91
  -108
  -125
  -143
  -162
  -182
  -203
  -224
  -246
  -269
  -293
  -318
  -344
  -371
  -398
  -428
  -458
  -489
  -522
Depreciation, amort., depletion, $m
  93
  105
  123
  142
  163
  186
  210
  235
  262
  290
  320
  350
  382
  416
  451
  488
  526
  565
  606
  648
  693
  739
  787
  836
  888
  942
  998
  1,057
  1,118
  1,182
  1,249
Funds from operations, $m
  232
  133
  145
  159
  173
  188
  202
  215
  229
  244
  259
  275
  291
  308
  326
  344
  363
  383
  403
  424
  447
  470
  494
  518
  544
  572
  600
  629
  660
  693
  726
Change in working capital, $m
  68
  -50
  -55
  -60
  -64
  -69
  -74
  -78
  -82
  -87
  -91
  -95
  -99
  -103
  -108
  -112
  -116
  -121
  -126
  -131
  -136
  -141
  -147
  -153
  -159
  -166
  -172
  -180
  -188
  -196
  -204
Cash from operations, $m
  164
  183
  200
  218
  237
  257
  275
  293
  312
  331
  350
  370
  390
  412
  433
  456
  479
  504
  529
  555
  582
  611
  640
  671
  703
  737
  772
  809
  848
  888
  931
Maintenance CAPEX, $m
  0
  -88
  -104
  -122
  -141
  -162
  -185
  -209
  -234
  -261
  -289
  -319
  -350
  -382
  -416
  -451
  -488
  -526
  -565
  -606
  -648
  -693
  -739
  -787
  -836
  -888
  -942
  -998
  -1,057
  -1,118
  -1,182
New CAPEX, $m
  -92
  -164
  -179
  -194
  -210
  -225
  -240
  -254
  -268
  -282
  -296
  -310
  -323
  -337
  -351
  -365
  -379
  -394
  -410
  -426
  -442
  -460
  -478
  -498
  -518
  -540
  -562
  -586
  -611
  -638
  -666
Cash from investing activities, $m
  23
  -252
  -283
  -316
  -351
  -387
  -425
  -463
  -502
  -543
  -585
  -629
  -673
  -719
  -767
  -816
  -867
  -920
  -975
  -1,032
  -1,090
  -1,153
  -1,217
  -1,285
  -1,354
  -1,428
  -1,504
  -1,584
  -1,668
  -1,756
  -1,848
Free cash flow, $m
  187
  -69
  -82
  -98
  -114
  -130
  -149
  -170
  -191
  -213
  -236
  -259
  -283
  -308
  -333
  -360
  -387
  -416
  -446
  -477
  -509
  -542
  -577
  -613
  -651
  -691
  -732
  -775
  -821
  -868
  -918
Issuance/(repayment) of debt, $m
  -264
  209
  229
  249
  269
  289
  308
  326
  344
  362
  380
  397
  414
  432
  450
  468
  486
  505
  525
  546
  567
  590
  613
  638
  664
  692
  721
  752
  784
  818
  854
Issuance/(repurchase) of shares, $m
  0
  5
  14
  24
  34
  45
  58
  73
  89
  105
  122
  140
  158
  178
  198
  220
  242
  264
  288
  313
  338
  365
  393
  422
  452
  483
  516
  550
  585
  623
  661
Cash from financing (excl. dividends), $m  
  -113
  214
  243
  273
  303
  334
  366
  399
  433
  467
  502
  537
  572
  610
  648
  688
  728
  769
  813
  859
  905
  955
  1,006
  1,060
  1,116
  1,175
  1,237
  1,302
  1,369
  1,441
  1,515
Total cash flow (excl. dividends), $m
  82
  145
  161
  175
  189
  203
  216
  229
  242
  254
  266
  278
  290
  302
  315
  327
  340
  354
  368
  382
  397
  413
  429
  447
  465
  484
  505
  526
  549
  573
  598
Retained Cash Flow (-), $m
  -65
  -33
  -37
  -41
  -44
  -47
  -58
  -73
  -89
  -105
  -122
  -140
  -158
  -178
  -198
  -220
  -242
  -264
  -288
  -313
  -338
  -365
  -393
  -422
  -452
  -483
  -516
  -550
  -585
  -623
  -661
Prev. year cash balance distribution, $m
 
  167
  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
 
  279
  124
  135
  145
  156
  158
  156
  153
  149
  144
  138
  132
  124
  116
  108
  99
  89
  79
  69
  59
  48
  36
  25
  13
  1
  -11
  -24
  -37
  -50
  -64
Discount rate, %
 
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
 
  261
  108
  108
  107
  104
  95
  84
  73
  62
  52
  43
  35
  27
  21
  16
  12
  8
  6
  4
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  99.5
  98.3
  96.6
  94.6
  92.3
  89.8
  87.1
  84.2
  81.3
  78.4
  75.4
  72.5
  69.6
  66.7
  64.0
  61.3
  58.6
  56.1
  53.6
  51.2
  48.9
  46.7
  44.6
  42.5
  40.5
  38.6
  36.8
  35.1
  33.4
  31.8

Arcos Dorados Holdings Inc. operates as a franchisee of McDonald’s restaurants. It has the exclusive right to own, operate, and grant franchises of McDonald’s restaurants in 20 countries and territories in Latin America and the Caribbean, including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curaçao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, Trinidad and Tobago, Uruguay, the U.S. Virgin Islands of St. Croix and St. Thomas, and Venezuela. As of December 31, 2015, the company operated and franchised 2,141 McDonald’s branded restaurants. Arcos Dorados Holdings Inc. was founded in 2007 and is based in Montevideo, Uruguay.

FINANCIAL RATIOS  of  Arcos Dorados Holdings Cl A (ARCO)

Valuation Ratios
P/E Ratio 23.1
Price to Sales 0.6
Price to Book 5.2
Price to Tangible Book
Price to Cash Flow 11.1
Price to Free Cash Flow 25.3
Growth Rates
Sales Growth Rate -4.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.1%
Cap. Spend. - 3 Yr. Gr. Rate -21.7%
Financial Strength
Quick Ratio 7
Current Ratio 0
LT Debt to Equity 157.3%
Total Debt to Equity 165.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 8.4%
Ret/ On Assets - 3 Yr. Avg. 3.9%
Return On Total Capital 8.4%
Ret/ On T. Cap. - 3 Yr. Avg. -1.4%
Return On Equity 24.8%
Return On Equity - 3 Yr. Avg. -2.7%
Asset Turnover 2
Profitability Ratios
Gross Margin 12.2%
Gross Margin - 3 Yr. Avg. 12%
EBITDA Margin 10.5%
EBITDA Margin - 3 Yr. Avg. 6.1%
Operating Margin 6.1%
Oper. Margin - 3 Yr. Avg. 3.7%
Pre-Tax Margin 4.7%
Pre-Tax Margin - 3 Yr. Avg. 0.6%
Net Profit Margin 2.7%
Net Profit Margin - 3 Yr. Avg. -0.7%
Effective Tax Rate 43.2%
Eff/ Tax Rate - 3 Yr. Avg. -24.8%
Payout Ratio 0%

ARCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARCO stock intrinsic value calculation we used $2929 million for the last fiscal year's total revenue generated by Arcos Dorados Holdings Cl A. The default revenue input number comes from 2016 income statement of Arcos Dorados Holdings Cl A. 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 ARCO stock valuation model: a) initial revenue growth rate of 18.5% 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 6.9%, whose default value for ARCO is calculated based on our internal credit rating of Arcos Dorados Holdings Cl A, 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 Arcos Dorados Holdings Cl A.
    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 ARCO stock the variable cost ratio is equal to 96.9%.

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 ARCO 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 12.5% for Arcos Dorados Holdings Cl A.

Corporate tax rate of 27% is the nominal tax rate for Arcos Dorados Holdings Cl A. 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 ARCO 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 ARCO are equal to 30%.

Life of production assets of 10 years is the average useful life of capital assets used in Arcos Dorados Holdings Cl A 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 ARCO is equal to -9.2%. 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 - $351 million for Arcos Dorados Holdings Cl A - 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 217.742 million for Arcos Dorados Holdings Cl A 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 Arcos Dorados Holdings Cl A at the current share price and the inputted number of shares is $1.9 billion.

RELATED COMPANIES Price Int.Val. Rating
MCD McDonald's 157.76 12.13  str.sell
TAST Carrols Restau 11.15 10.63  hold
GTIM Good Times Res 2.85 0.44  str.sell
WEN Wendy's Co 15.19 3.54  str.sell
JACK Jack in the Bo 96.86 11.00  str.sell
SHAK Shake Shack Cl 31.27 286.36  str.buy

COMPANY NEWS

▶ Arcos Dorados reports 2Q loss   [Aug-09-17 10:22PM  Associated Press]
▶ The 3 Stocks on the MFM Team's Radar This Week   [Aug-06-17 10:02PM  Motley Fool]
▶ Arcos Dorados Holdings Addresses Its Biggest Threat   [Aug-03-17 06:11PM  Motley Fool]
▶ Arcos Dorados to Participate in Upcoming Equity Conferences   [Jul-07-17 08:05AM  Business Wire]
▶ Brazil Shockwaves Send These 5 Stocks Plunging   [May-18-17 05:43PM  Motley Fool]
▶ Why Arcos Dorados Holding Inc. Stock Popped Today   [May-03-17 04:58PM  Motley Fool]
▶ Arcos Dorados posts 1Q profit   [08:04AM  Associated Press]
▶ 3 Top Stocks Under $10   [Mar-16-17 07:15PM  Motley Fool]
▶ What Happened in the Stock Market Today   [04:58PM  at Motley Fool]
▶ Arcos Dorados Announces Key Appointments   [Jan-04-17 04:45PM  Business Wire]
▶ 6 Analyst Stock Picks Under $10 for Massive Upside   [Oct-30-16 11:06AM  at 24/7 Wall St.]
▶ Arcos Dorados to exclusively source cage-free eggs   [Oct-13-16 08:00AM  Business Wire]
▶ If You Love McDonald's, You Should Check Out Arcos Dorados   [Sep-29-16 12:51PM  at Motley Fool]
▶ Why Arcos Dorados Holdings, Inc. Stock Fell 11% in August   [Sep-14-16 06:15PM  at Motley Fool]
Stock chart of ARCO Financial statements of ARCO
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.