Intrinsic value of Astec Industries - ASTE

Previous Close

$46.52

  Intrinsic Value

$68.26

stock screener

  Rating & Target

buy

+47%

  Value-price divergence*

+2254%

Previous close

$46.52

 
Intrinsic value

$68.26

 
Up/down potential

+47%

 
Rating

buy

 
Value-price divergence*

+2254%

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

We calculate the intrinsic value of ASTE 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 1.0

 

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, %
  16.68
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
Revenue, $m
  1,147
  1,308
  1,479
  1,661
  1,853
  2,055
  2,267
  2,488
  2,720
  2,961
  3,212
  3,474
  3,746
  4,028
  4,322
  4,627
  4,944
  5,274
  5,616
  5,973
  6,344
  6,731
  7,134
  7,554
  7,992
  8,449
  8,926
  9,424
  9,944
  10,489
  11,057
Variable operating expenses, $m
 
  1,011
  1,143
  1,283
  1,431
  1,587
  1,750
  1,921
  2,100
  2,285
  2,479
  2,676
  2,886
  3,103
  3,330
  3,565
  3,809
  4,063
  4,327
  4,602
  4,888
  5,186
  5,496
  5,820
  6,157
  6,509
  6,877
  7,260
  7,661
  8,081
  8,519
Fixed operating expenses, $m
 
  180
  185
  190
  194
  199
  204
  209
  214
  220
  225
  231
  237
  243
  249
  255
  261
  268
  274
  281
  288
  296
  303
  311
  318
  326
  334
  343
  351
  360
  369
Total operating expenses, $m
  1,060
  1,191
  1,328
  1,473
  1,625
  1,786
  1,954
  2,130
  2,314
  2,505
  2,704
  2,907
  3,123
  3,346
  3,579
  3,820
  4,070
  4,331
  4,601
  4,883
  5,176
  5,482
  5,799
  6,131
  6,475
  6,835
  7,211
  7,603
  8,012
  8,441
  8,888
Operating income, $m
  87
  116
  151
  188
  227
  268
  312
  358
  406
  456
  508
  567
  623
  682
  743
  807
  874
  943
  1,015
  1,090
  1,168
  1,250
  1,335
  1,424
  1,516
  1,613
  1,715
  1,821
  1,932
  2,048
  2,169
EBITDA, $m
  112
  142
  180
  220
  263
  308
  355
  405
  456
  511
  567
  626
  687
  751
  817
  886
  958
  1,033
  1,111
  1,192
  1,277
  1,365
  1,457
  1,553
  1,653
  1,758
  1,867
  1,982
  2,102
  2,227
  2,358
Interest expense (income), $m
  1
  0
  3
  5
  8
  11
  14
  18
  21
  25
  29
  32
  37
  41
  45
  50
  54
  59
  65
  70
  75
  81
  87
  94
  100
  107
  114
  121
  129
  137
  146
Earnings before tax, $m
  87
  115
  148
  182
  219
  257
  298
  340
  385
  431
  480
  534
  587
  641
  698
  758
  819
  883
  950
  1,020
  1,093
  1,168
  1,248
  1,330
  1,416
  1,506
  1,601
  1,699
  1,802
  1,910
  2,024
Tax expense, $m
  32
  31
  40
  49
  59
  69
  80
  92
  104
  116
  129
  144
  158
  173
  189
  205
  221
  239
  257
  275
  295
  315
  337
  359
  382
  407
  432
  459
  487
  516
  546
Net income, $m
  55
  84
  108
  133
  160
  188
  217
  248
  281
  315
  350
  390
  428
  468
  510
  553
  598
  645
  694
  745
  798
  853
  911
  971
  1,034
  1,100
  1,169
  1,240
  1,316
  1,395
  1,477

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  83
  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
  844
  868
  981
  1,102
  1,229
  1,363
  1,504
  1,651
  1,805
  1,965
  2,132
  2,305
  2,486
  2,673
  2,868
  3,070
  3,281
  3,499
  3,727
  3,964
  4,210
  4,467
  4,734
  5,012
  5,303
  5,606
  5,923
  6,253
  6,599
  6,960
  7,337
Adjusted assets (=assets-cash), $m
  761
  868
  981
  1,102
  1,229
  1,363
  1,504
  1,651
  1,805
  1,965
  2,132
  2,305
  2,486
  2,673
  2,868
  3,070
  3,281
  3,499
  3,727
  3,964
  4,210
  4,467
  4,734
  5,012
  5,303
  5,606
  5,923
  6,253
  6,599
  6,960
  7,337
Revenue / Adjusted assets
  1.507
  1.507
  1.508
  1.507
  1.508
  1.508
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
  1.507
Average production assets, $m
  197
  224
  253
  284
  317
  351
  388
  425
  465
  506
  549
  594
  641
  689
  739
  791
  845
  902
  960
  1,021
  1,085
  1,151
  1,220
  1,292
  1,367
  1,445
  1,526
  1,611
  1,701
  1,794
  1,891
Working capital, $m
  408
  379
  429
  482
  537
  596
  657
  722
  789
  859
  932
  1,007
  1,086
  1,168
  1,253
  1,342
  1,434
  1,529
  1,629
  1,732
  1,840
  1,952
  2,069
  2,191
  2,318
  2,450
  2,588
  2,733
  2,884
  3,042
  3,207
Total debt, $m
  11
  29
  57
  87
  119
  152
  186
  223
  261
  300
  342
  384
  429
  475
  523
  573
  625
  679
  736
  794
  855
  918
  984
  1,053
  1,125
  1,200
  1,278
  1,360
  1,445
  1,534
  1,627
Total liabilities, $m
  196
  214
  242
  272
  304
  337
  371
  408
  446
  485
  527
  569
  614
  660
  708
  758
  810
  864
  921
  979
  1,040
  1,103
  1,169
  1,238
  1,310
  1,385
  1,463
  1,545
  1,630
  1,719
  1,812
Total equity, $m
  648
  653
  739
  830
  926
  1,027
  1,133
  1,243
  1,359
  1,480
  1,605
  1,736
  1,872
  2,013
  2,159
  2,312
  2,470
  2,635
  2,806
  2,985
  3,170
  3,363
  3,565
  3,774
  3,993
  4,222
  4,460
  4,709
  4,969
  5,241
  5,525
Total liabilities and equity, $m
  844
  867
  981
  1,102
  1,230
  1,364
  1,504
  1,651
  1,805
  1,965
  2,132
  2,305
  2,486
  2,673
  2,867
  3,070
  3,280
  3,499
  3,727
  3,964
  4,210
  4,466
  4,734
  5,012
  5,303
  5,607
  5,923
  6,254
  6,599
  6,960
  7,337
Debt-to-equity ratio
  0.017
  0.040
  0.080
  0.110
  0.130
  0.150
  0.160
  0.180
  0.190
  0.200
  0.210
  0.220
  0.230
  0.240
  0.240
  0.250
  0.250
  0.260
  0.260
  0.270
  0.270
  0.270
  0.280
  0.280
  0.280
  0.280
  0.290
  0.290
  0.290
  0.290
  0.290
Adjusted equity ratio
  0.749
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753
  0.753

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  55
  84
  108
  133
  160
  188
  217
  248
  281
  315
  350
  390
  428
  468
  510
  553
  598
  645
  694
  745
  798
  853
  911
  971
  1,034
  1,100
  1,169
  1,240
  1,316
  1,395
  1,477
Depreciation, amort., depletion, $m
  25
  26
  29
  32
  36
  39
  43
  47
  51
  55
  59
  59
  64
  69
  74
  79
  85
  90
  96
  102
  108
  115
  122
  129
  137
  144
  153
  161
  170
  179
  189
Funds from operations, $m
  172
  111
  137
  165
  195
  227
  260
  295
  331
  369
  409
  449
  492
  537
  584
  632
  683
  735
  790
  847
  906
  968
  1,033
  1,100
  1,171
  1,244
  1,321
  1,402
  1,486
  1,574
  1,666
Change in working capital, $m
  37
  47
  50
  53
  56
  59
  61
  64
  67
  70
  73
  76
  79
  82
  85
  88
  92
  96
  99
  103
  108
  112
  117
  122
  127
  133
  138
  144
  151
  158
  165
Cash from operations, $m
  135
  64
  88
  113
  140
  168
  199
  231
  264
  299
  336
  374
  414
  455
  499
  544
  591
  640
  690
  743
  798
  856
  916
  978
  1,044
  1,112
  1,183
  1,257
  1,335
  1,416
  1,501
Maintenance CAPEX, $m
  0
  -20
  -22
  -25
  -28
  -32
  -35
  -39
  -43
  -47
  -51
  -55
  -59
  -64
  -69
  -74
  -79
  -85
  -90
  -96
  -102
  -108
  -115
  -122
  -129
  -137
  -144
  -153
  -161
  -170
  -179
New CAPEX, $m
  -27
  -27
  -29
  -31
  -33
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -63
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -89
  -93
  -97
Cash from investing activities, $m
  -66
  -47
  -51
  -56
  -61
  -67
  -71
  -77
  -83
  -88
  -94
  -100
  -105
  -112
  -119
  -126
  -133
  -141
  -149
  -157
  -165
  -174
  -184
  -194
  -204
  -215
  -226
  -238
  -250
  -263
  -276
Free cash flow, $m
  69
  17
  36
  56
  78
  102
  127
  154
  182
  212
  243
  274
  308
  343
  379
  418
  457
  499
  542
  586
  633
  681
  732
  785
  840
  897
  957
  1,019
  1,085
  1,153
  1,225
Issuance/(repayment) of debt, $m
  0
  26
  28
  30
  31
  33
  35
  36
  38
  40
  41
  43
  45
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  75
  78
  82
  85
  89
  93
Issuance/(repurchase) of shares, $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
  0
Cash from financing (excl. dividends), $m  
  -2
  26
  28
  30
  31
  33
  35
  36
  38
  40
  41
  43
  45
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  75
  78
  82
  85
  89
  93
Total cash flow (excl. dividends), $m
  66
  44
  64
  86
  110
  135
  162
  190
  220
  251
  284
  317
  352
  389
  428
  468
  509
  553
  598
  645
  694
  745
  798
  853
  911
  972
  1,035
  1,101
  1,170
  1,242
  1,318
Retained Cash Flow (-), $m
  -40
  -80
  -86
  -91
  -96
  -101
  -106
  -111
  -116
  -121
  -126
  -131
  -136
  -141
  -147
  -152
  -158
  -165
  -171
  -178
  -186
  -193
  -201
  -210
  -219
  -228
  -238
  -249
  -260
  -272
  -284
Prev. year cash balance distribution, $m
 
  75
  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
 
  38
  -22
  -5
  14
  34
  56
  80
  104
  131
  158
  186
  216
  248
  281
  315
  351
  388
  426
  467
  508
  552
  597
  644
  692
  743
  797
  852
  910
  970
  1,034
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
 
  37
  -20
  -4
  12
  27
  41
  54
  65
  75
  83
  88
  92
  94
  94
  93
  89
  84
  79
  72
  65
  57
  50
  42
  35
  29
  23
  18
  14
  11
  8
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

Astec Industries, Inc. designs, engineers, manufactures, and markets equipment and components primarily for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. Its Infrastructure Group segment offers asphalt and wood pellet plants, and related components; asphalt pavers, screeds, milling machines, material transfer vehicles, stabilizers, and related ancillary equipment; and commercial pavers. The company’s Aggregate and Mining Group segment provides aggregate processing and mining equipment for the production and classification of sand, gravel, crushed stone, and minerals used in road construction and other applications; mobile screening plants, portable and stationary structures, and vibrating screens; portable and stationary aggregate and ore processing equipment; rock breaking systems, processing equipment, and utility vehicles; and bulk material handling systems and minerals processing equipment. Its Energy Group segment offers thermal fluid heaters, process heaters, waste heat recovery equipment, liquid storage systems, and polymer and rubber blending systems under the HEATEC name; storage tanks, concrete plants, and rubberized asphalt and polymer blending systems; portable drilling rigs and related equipment for the water well, environmental, groundwater monitoring, construction, geothermal, mining, and shallow oil and gas exploration and production industries; high pressure diesel powered pump trailers used for fracking and cleaning oil and gas wells; and drilling rigs for the oil and gas industries, as well as tree pulpwood chippers, horizontal grinders, and blower trucks. The company sells its products through sales agents, manufacturer reps, distributors, and dealers. Astec Industries, Inc. was founded in 1972 and is based in Chattanooga, Tennessee.

FINANCIAL RATIOS  of  Astec Industries (ASTE)

Valuation Ratios
P/E Ratio 19.5
Price to Sales 0.9
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 7.9
Price to Free Cash Flow 9.9
Growth Rates
Sales Growth Rate 16.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 28.6%
Cap. Spend. - 3 Yr. Gr. Rate -0.7%
Financial Strength
Quick Ratio 10
Current Ratio 0
LT Debt to Equity 0.5%
Total Debt to Equity 1.7%
Interest Coverage 88
Management Effectiveness
Return On Assets 6.9%
Ret/ On Assets - 3 Yr. Avg. 5.2%
Return On Total Capital 8.6%
Ret/ On T. Cap. - 3 Yr. Avg. 6.6%
Return On Equity 8.8%
Return On Equity - 3 Yr. Avg. 6.7%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 23.1%
Gross Margin - 3 Yr. Avg. 22.5%
EBITDA Margin 9.9%
EBITDA Margin - 3 Yr. Avg. 8.6%
Operating Margin 7.6%
Oper. Margin - 3 Yr. Avg. 6%
Pre-Tax Margin 7.6%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 4.8%
Net Profit Margin - 3 Yr. Avg. 3.9%
Effective Tax Rate 36.8%
Eff/ Tax Rate - 3 Yr. Avg. 37.4%
Payout Ratio 16.4%

ASTE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ASTE stock intrinsic value calculation we used $1147 million for the last fiscal year's total revenue generated by Astec Industries. The default revenue input number comes from 2016 income statement of Astec Industries. 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 ASTE stock valuation model: a) initial revenue growth rate of 14% 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 ASTE is calculated based on our internal credit rating of Astec Industries, 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 Astec Industries.
    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 ASTE stock the variable cost ratio is equal to 77.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $176 million in the base year in the intrinsic value calculation for ASTE 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 9.5% for Astec Industries.

Corporate tax rate of 27% is the nominal tax rate for Astec Industries. 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 ASTE 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 ASTE are equal to 17.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Astec Industries 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 ASTE is equal to 29%. 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 - $648 million for Astec Industries - 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 22.31 million for Astec Industries 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 Astec Industries at the current share price and the inputted number of shares is $1.0 billion.

RELATED COMPANIES Price Int.Val. Rating
CAT Caterpillar 113.92 22.60  str.sell
GENC Gencor Industr 15.50 14.63  hold
CMI Cummins 150.79 129.21  sell
TEX Terex 37.53 2.88  str.sell
MTW Manitowoc 7.74 0.54  str.sell
CNHI CNH Industrial 11.22 21.62  str.buy
NOV National Oilwe 30.38 5.28  str.sell

COMPANY NEWS

▶ Astec Industries misses Street 2Q forecasts   [Jul-25-17 04:55PM  Associated Press]
▶ Astec Industries misses Street 2Q forecasts   [07:18AM  Associated Press]
▶ Snap Returns To The Top Of Short-Seller Favorites   [Jun-06-17 04:05PM  Benzinga]
▶ Astec Industries misses 1Q profit forecasts   [Apr-25-17 08:16AM  Associated Press]
▶ Astec Industries misses 4Q profit forecasts   [07:54AM  Associated Press]
▶ Do Hedge Funds Love Astec Industries, Inc. (ASTE)?   [11:11AM  at Insider Monkey]
Stock chart of ASTE Financial statements of ASTE
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.