Intrinsic value of Autohome ADR - ATHM

Previous Close

$60.93

  Intrinsic Value

$64.86

stock screener

  Rating & Target

hold

+6%

  Value-price divergence*

-259%

Previous close

$60.93

 
Intrinsic value

$64.86

 
Up/down potential

+6%

 
Rating

hold

 
Value-price divergence*

-259%

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

We calculate the intrinsic value of ATHM 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 6.8

 

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, %
  72.06
  13.60
  12.74
  11.97
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
Revenue, $m
  862
  979
  1,104
  1,236
  1,375
  1,522
  1,675
  1,835
  2,003
  2,177
  2,358
  2,547
  2,743
  2,947
  3,159
  3,379
  3,607
  3,845
  4,093
  4,350
  4,618
  4,897
  5,188
  5,492
  5,808
  6,139
  6,483
  6,844
  7,220
  7,613
  8,025
Variable operating expenses, $m
 
  640
  722
  808
  900
  995
  1,096
  1,200
  1,310
  1,424
  1,542
  1,666
  1,794
  1,927
  2,066
  2,210
  2,359
  2,515
  2,677
  2,845
  3,020
  3,203
  3,393
  3,592
  3,799
  4,015
  4,240
  4,476
  4,722
  4,979
  5,248
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
  696
  640
  722
  808
  900
  995
  1,096
  1,200
  1,310
  1,424
  1,542
  1,666
  1,794
  1,927
  2,066
  2,210
  2,359
  2,515
  2,677
  2,845
  3,020
  3,203
  3,393
  3,592
  3,799
  4,015
  4,240
  4,476
  4,722
  4,979
  5,248
Operating income, $m
  167
  339
  382
  428
  476
  527
  580
  635
  693
  753
  816
  881
  949
  1,020
  1,093
  1,169
  1,248
  1,330
  1,416
  1,505
  1,598
  1,695
  1,795
  1,900
  2,010
  2,124
  2,243
  2,368
  2,498
  2,634
  2,777
EBITDA, $m
  177
  345
  389
  435
  484
  536
  590
  646
  705
  766
  830
  897
  966
  1,038
  1,112
  1,190
  1,270
  1,354
  1,441
  1,532
  1,626
  1,724
  1,827
  1,934
  2,045
  2,161
  2,283
  2,410
  2,542
  2,681
  2,825
Interest expense (income), $m
  0
  0
  2
  4
  7
  9
  12
  14
  17
  20
  23
  26
  30
  33
  37
  41
  44
  48
  53
  57
  62
  66
  71
  76
  82
  87
  93
  99
  106
  112
  119
Earnings before tax, $m
  181
  339
  380
  423
  469
  517
  568
  621
  676
  733
  793
  855
  919
  986
  1,056
  1,128
  1,204
  1,282
  1,363
  1,448
  1,536
  1,628
  1,724
  1,824
  1,928
  2,037
  2,150
  2,269
  2,392
  2,522
  2,657
Tax expense, $m
  5
  91
  103
  114
  127
  140
  153
  168
  182
  198
  214
  231
  248
  266
  285
  305
  325
  346
  368
  391
  415
  440
  465
  492
  521
  550
  581
  613
  646
  681
  717
Net income, $m
  178
  247
  277
  309
  343
  378
  415
  453
  493
  535
  579
  624
  671
  720
  771
  824
  879
  936
  995
  1,057
  1,122
  1,189
  1,258
  1,331
  1,407
  1,487
  1,570
  1,656
  1,746
  1,841
  1,940

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  828
  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
  1,359
  603
  680
  762
  847
  938
  1,032
  1,131
  1,234
  1,341
  1,453
  1,569
  1,690
  1,816
  1,946
  2,082
  2,223
  2,369
  2,522
  2,680
  2,846
  3,018
  3,197
  3,384
  3,579
  3,782
  3,995
  4,217
  4,449
  4,691
  4,945
Adjusted assets (=assets-cash), $m
  531
  603
  680
  762
  847
  938
  1,032
  1,131
  1,234
  1,341
  1,453
  1,569
  1,690
  1,816
  1,946
  2,082
  2,223
  2,369
  2,522
  2,680
  2,846
  3,018
  3,197
  3,384
  3,579
  3,782
  3,995
  4,217
  4,449
  4,691
  4,945
Revenue / Adjusted assets
  1.623
  1.624
  1.624
  1.622
  1.623
  1.623
  1.623
  1.622
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
  1.623
Average production assets, $m
  121
  137
  155
  173
  193
  213
  235
  257
  280
  305
  330
  357
  384
  413
  442
  473
  505
  538
  573
  609
  647
  686
  726
  769
  813
  859
  908
  958
  1,011
  1,066
  1,123
Working capital, $m
  707
  -133
  -150
  -168
  -187
  -207
  -228
  -250
  -272
  -296
  -321
  -346
  -373
  -401
  -430
  -460
  -491
  -523
  -557
  -592
  -628
  -666
  -706
  -747
  -790
  -835
  -882
  -931
  -982
  -1,035
  -1,091
Total debt, $m
  4
  59
  122
  189
  259
  333
  410
  491
  576
  664
  755
  850
  949
  1,052
  1,159
  1,270
  1,385
  1,505
  1,630
  1,760
  1,895
  2,036
  2,183
  2,336
  2,496
  2,663
  2,837
  3,018
  3,208
  3,407
  3,615
Total liabilities, $m
  439
  494
  557
  624
  694
  768
  845
  926
  1,011
  1,099
  1,190
  1,285
  1,384
  1,487
  1,594
  1,705
  1,820
  1,940
  2,065
  2,195
  2,330
  2,471
  2,618
  2,771
  2,931
  3,098
  3,272
  3,453
  3,643
  3,842
  4,050
Total equity, $m
  920
  109
  123
  138
  153
  170
  187
  205
  223
  243
  263
  284
  306
  329
  352
  377
  402
  429
  456
  485
  515
  546
  579
  612
  648
  685
  723
  763
  805
  849
  895
Total liabilities and equity, $m
  1,359
  603
  680
  762
  847
  938
  1,032
  1,131
  1,234
  1,342
  1,453
  1,569
  1,690
  1,816
  1,946
  2,082
  2,222
  2,369
  2,521
  2,680
  2,845
  3,017
  3,197
  3,383
  3,579
  3,783
  3,995
  4,216
  4,448
  4,691
  4,945
Debt-to-equity ratio
  0.004
  0.540
  0.990
  1.370
  1.690
  1.960
  2.200
  2.400
  2.580
  2.730
  2.870
  2.990
  3.100
  3.200
  3.290
  3.370
  3.440
  3.510
  3.570
  3.630
  3.680
  3.730
  3.770
  3.810
  3.850
  3.890
  3.920
  3.950
  3.980
  4.010
  4.040
Adjusted equity ratio
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181
  0.181

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  178
  247
  277
  309
  343
  378
  415
  453
  493
  535
  579
  624
  671
  720
  771
  824
  879
  936
  995
  1,057
  1,122
  1,189
  1,258
  1,331
  1,407
  1,487
  1,570
  1,656
  1,746
  1,841
  1,940
Depreciation, amort., depletion, $m
  10
  6
  7
  8
  8
  9
  10
  11
  12
  13
  14
  16
  17
  18
  19
  21
  22
  23
  25
  26
  28
  30
  32
  33
  35
  37
  39
  42
  44
  46
  49
Funds from operations, $m
  259
  253
  284
  317
  351
  387
  425
  464
  505
  548
  593
  640
  688
  738
  790
  844
  901
  959
  1,020
  1,084
  1,150
  1,218
  1,290
  1,365
  1,443
  1,524
  1,609
  1,698
  1,790
  1,887
  1,989
Change in working capital, $m
  24
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -54
  -56
Cash from operations, $m
  235
  269
  301
  335
  370
  407
  446
  486
  528
  572
  618
  665
  714
  766
  819
  874
  932
  992
  1,054
  1,119
  1,186
  1,256
  1,330
  1,406
  1,486
  1,569
  1,656
  1,747
  1,842
  1,941
  2,045
Maintenance CAPEX, $m
  0
  -5
  -6
  -7
  -8
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -25
  -26
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -42
  -44
  -46
New CAPEX, $m
  -13
  -16
  -17
  -18
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
Cash from investing activities, $m
  -74
  -21
  -23
  -25
  -28
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -43
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -64
  -67
  -71
  -74
  -77
  -81
  -85
  -89
  -95
  -99
  -104
Free cash flow, $m
  161
  248
  278
  309
  343
  378
  415
  453
  494
  536
  579
  624
  672
  720
  771
  824
  879
  936
  996
  1,058
  1,122
  1,189
  1,259
  1,332
  1,408
  1,487
  1,570
  1,657
  1,747
  1,842
  1,941
Issuance/(repayment) of debt, $m
  0
  59
  63
  67
  70
  74
  77
  81
  84
  88
  92
  95
  99
  103
  107
  111
  115
  120
  125
  130
  135
  141
  147
  153
  160
  167
  174
  182
  190
  199
  208
Issuance/(repurchase) of shares, $m
  4
  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  
  4
  59
  63
  67
  70
  74
  77
  81
  84
  88
  92
  95
  99
  103
  107
  111
  115
  120
  125
  130
  135
  141
  147
  153
  160
  167
  174
  182
  190
  199
  208
Total cash flow (excl. dividends), $m
  165
  307
  341
  376
  413
  452
  492
  534
  578
  623
  671
  720
  770
  823
  878
  935
  995
  1,056
  1,121
  1,188
  1,257
  1,330
  1,406
  1,485
  1,568
  1,654
  1,744
  1,839
  1,937
  2,040
  2,148
Retained Cash Flow (-), $m
  -218
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
Prev. year cash balance distribution, $m
 
  824
  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
 
  1,118
  327
  361
  398
  436
  475
  516
  559
  604
  650
  699
  749
  801
  855
  911
  969
  1,030
  1,093
  1,159
  1,227
  1,299
  1,373
  1,451
  1,532
  1,617
  1,706
  1,798
  1,895
  1,997
  2,103
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
 
  1,072
  299
  314
  327
  338
  345
  349
  350
  347
  341
  332
  319
  304
  287
  267
  246
  224
  201
  178
  156
  134
  114
  95
  78
  63
  50
  39
  29
  22
  16
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

Autohome Inc. is an online destination for automobile consumers in China. The Company is engaged in the provision of online advertising and dealer subscription services in the People's Republic of China (PRC). The Company, through its Websites, autohome.com.cn and che168.com, and mobile applications, delivers content to automobile buyers and owners. These services are offered to automakers and dealers, and advertising agencies that represent automakers and dealers in the automobile industry. The Company's autohome.com.cn targets automobile consumers with a focus on new automobiles. The Company's professionally produced content is created by editorial team and includes automobile-related articles and reviews, pricing trends in various local markets, and photos and video clips. Its database also includes new and used automobile listings and promotional information. Its dealer subscription services allow dealers to market their inventory and services through its Websites.

FINANCIAL RATIOS  of  Autohome ADR (ATHM)

Valuation Ratios
P/E Ratio 39.5
Price to Sales 8.1
Price to Book 7.6
Price to Tangible Book
Price to Cash Flow 29.9
Price to Free Cash Flow 31.6
Growth Rates
Sales Growth Rate 72.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 13.2%
Financial Strength
Quick Ratio 207
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0.4%
Interest Coverage 0
Management Effectiveness
Return On Assets 14.5%
Ret/ On Assets - 3 Yr. Avg. 15.7%
Return On Total Capital 21.6%
Ret/ On T. Cap. - 3 Yr. Avg. 23.2%
Return On Equity 21.9%
Return On Equity - 3 Yr. Avg. 23.5%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 59.9%
Gross Margin - 3 Yr. Avg. 74.1%
EBITDA Margin 22.2%
EBITDA Margin - 3 Yr. Avg. 35.5%
Operating Margin 19.3%
Oper. Margin - 3 Yr. Avg. 32.1%
Pre-Tax Margin 21%
Pre-Tax Margin - 3 Yr. Avg. 34%
Net Profit Margin 20.6%
Net Profit Margin - 3 Yr. Avg. 28%
Effective Tax Rate 2.8%
Eff/ Tax Rate - 3 Yr. Avg. 15.4%
Payout Ratio 0%

ATHM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ATHM stock intrinsic value calculation we used $862 million for the last fiscal year's total revenue generated by Autohome ADR. The default revenue input number comes from 2016 income statement of Autohome ADR. 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 ATHM stock valuation model: a) initial revenue growth rate of 13.6% 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 ATHM is calculated based on our internal credit rating of Autohome ADR, 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 Autohome ADR.
    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 ATHM stock the variable cost ratio is equal to 65.4%.

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 ATHM 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 Autohome ADR.

Corporate tax rate of 27% is the nominal tax rate for Autohome ADR. 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 ATHM 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 ATHM are equal to 14%.

Life of production assets of 23 years is the average useful life of capital assets used in Autohome ADR 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 ATHM is equal to -13.6%. 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 - $920 million for Autohome ADR - 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 112.088 million for Autohome ADR 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 Autohome ADR at the current share price and the inputted number of shares is $6.8 billion.

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COMPANY NEWS

▶ HealthStream (HSTM) Jumps: Stock Rises 5%   [Oct-12-17 08:40AM  Zacks]
▶ ETFs with exposure to Autohome, Inc. : October 3, 2017   [Oct-03-17 10:53AM  Capital Cube]
▶ Autohome Crashes As Company Announces Management Shake-Up   [Sep-28-17 04:45PM  Investor's Business Daily]
▶ Autohome Inc. Announces Management Change   [06:00AM  GlobeNewswire]
▶ Stocks With Rising Relative Price Strength: Grubhub   [Sep-26-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Autohome, Inc. : September 22, 2017   [Sep-22-17 10:16AM  Capital Cube]
▶ ETFs with exposure to Autohome, Inc. : September 12, 2017   [Sep-11-17 09:08PM  Capital Cube]
▶ 5 Stocks at 52-Week Highs: Are They Buys?   [Aug-27-17 11:04AM  Motley Fool]
▶ Indexes Rebound, Apple Retakes Entry; This China Leader Is Zooming   [Aug-11-17 12:07PM  Investor's Business Daily]
▶ Autohome Inc. (ATHM) Catches Eye: Stock Up 9%   [Aug-10-17 08:32AM  Zacks]
▶ [$$] Small-Caps, Big Growth   [Aug-05-17 12:14AM  Barrons.com]
▶ ETFs with exposure to Autohome, Inc. : July 31, 2017   [Jul-31-17 04:25PM  Capital Cube]
▶ New Strong Buy Stocks for July 21st   [Jul-21-17 09:41AM  Zacks]
▶ Rounded Bottom Could Mean a Rally for These Stocks   [Jul-19-17 01:00PM  Investopedia]
▶ Top-Rated Stocks Near Buy Point With Earnings Due: Alphabet   [Jul-14-17 01:34PM  Investor's Business Daily]
▶ Can This Former Top Chinese Stock Drive A New Breakout Move?   [Jul-12-17 12:28PM  Investor's Business Daily]
▶ Winning Mutual Fund Focuses On Leading Stocks Like Autohome, MarketAxess   [Jul-07-17 02:43PM  Investor's Business Daily]
▶ As Alibaba, Autohome Rise, Can This Other Chinese Stock Rev Up?   [Jul-05-17 04:29PM  Investor's Business Daily]
▶ ETFs with exposure to Autohome, Inc. : June 26, 2017   [Jun-26-17 03:19PM  Capital Cube]
▶ Best Chinese Stocks To Buy And Watch   [Jun-09-17 11:07AM  Investor's Business Daily]
▶ 5 Surging Chinese Stocks And What You Could Do: Investing Action Plan   [Jun-06-17 04:56PM  Investor's Business Daily]
▶ After Alibaba And Weibo Breakouts, Is This Chinese Stock Next?   [May-12-17 04:13PM  Investor's Business Daily]
▶ BitAuto Stock Recovers From Weak Q1 Earnings After Rival Soared   [May-11-17 04:33PM  Investor's Business Daily]
▶ Top Chinese Internets Autohome, YY Earnings Top Views   [May-10-17 08:51AM  Investor's Business Daily]
▶ Will Snap, China's Internet Stocks Leap Like JD? Investing Action Plan   [May-09-17 04:43PM  Investor's Business Daily]
▶ Autohome, Weibo Shares Break Out As JD.com Hits Record High   [May-08-17 04:22PM  Investor's Business Daily]
▶ Why These Top China Growth Stocks With Earnings Due Should Be On Your List   [May-07-17 10:32AM  Investor's Business Daily]
▶ ETFs with exposure to Autohome, Inc. : April 27, 2017   [Apr-27-17 03:44PM  Capital Cube]
▶ As Weibo Rises, This Other Chinese Internet Stock Also Climbs   [12:18PM  Investor's Business Daily]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [11:29AM  Investor's Business Daily]
▶ Autohome Inc. Files Its Annual Report on Form 20-F   [Apr-25-17 05:00PM  GlobeNewswire]
▶ Why Autohome (ATHM) Could Be a Potential Winner   [Mar-10-17 08:40AM  Zacks]
▶ Near a 3-Year Low, Is 58.com Inc. (ADR) a Buy?   [Dec-09-16 10:19AM  at Motley Fool]
▶ Hedge Funds Are Buying The Timken Company (TKR)   [Dec-08-16 02:23AM  at Insider Monkey]
▶ Tiger Pacific Capitals Bets on China Lead to Big Q3   [Nov-07-16 02:34PM  at Insider Monkey]
▶ Autohome Inc. Announces Board Change   [Oct-03-16 06:00AM  GlobeNewswire]
Financial statements of ATHM
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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