Intrinsic value of AVX - AVX

Previous Close

$16.80

  Intrinsic Value

$19.58

stock screener

  Rating & Target

hold

+17%

  Value-price divergence*

+310%

Previous close

$16.80

 
Intrinsic value

$19.58

 
Up/down potential

+17%

 
Rating

hold

 
Value-price divergence*

+310%

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

We calculate the intrinsic value of AVX 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 2017), $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 2.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.78
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  1,313
  1,426
  1,543
  1,666
  1,793
  1,925
  2,062
  2,204
  2,352
  2,506
  2,667
  2,834
  3,007
  3,188
  3,377
  3,573
  3,779
  3,993
  4,216
  4,450
  4,694
  4,949
  5,216
  5,496
  5,788
  6,094
  6,414
  6,750
  7,102
  7,470
  7,856
Variable operating expenses, $m
 
  936
  1,012
  1,090
  1,172
  1,256
  1,344
  1,436
  1,531
  1,630
  1,733
  1,819
  1,930
  2,046
  2,167
  2,293
  2,425
  2,562
  2,706
  2,856
  3,013
  3,176
  3,348
  3,527
  3,715
  3,911
  4,117
  4,332
  4,558
  4,794
  5,042
Fixed operating expenses, $m
 
  299
  307
  314
  322
  330
  339
  347
  356
  365
  374
  383
  393
  403
  413
  423
  433
  444
  455
  467
  478
  490
  503
  515
  528
  541
  555
  569
  583
  598
  612
Total operating expenses, $m
  1,149
  1,235
  1,319
  1,404
  1,494
  1,586
  1,683
  1,783
  1,887
  1,995
  2,107
  2,202
  2,323
  2,449
  2,580
  2,716
  2,858
  3,006
  3,161
  3,323
  3,491
  3,666
  3,851
  4,042
  4,243
  4,452
  4,672
  4,901
  5,141
  5,392
  5,654
Operating income, $m
  164
  190
  225
  261
  299
  338
  379
  421
  466
  512
  560
  632
  685
  740
  797
  857
  920
  986
  1,055
  1,127
  1,203
  1,283
  1,366
  1,453
  1,545
  1,642
  1,743
  1,849
  1,961
  2,078
  2,202
EBITDA, $m
  207
  238
  275
  313
  353
  395
  438
  484
  531
  580
  631
  685
  741
  799
  860
  924
  991
  1,061
  1,134
  1,210
  1,291
  1,375
  1,463
  1,556
  1,653
  1,756
  1,863
  1,975
  2,094
  2,218
  2,349
Interest expense (income), $m
  0
  0
  1
  2
  2
  3
  4
  5
  6
  7
  8
  9
  11
  12
  13
  14
  16
  17
  19
  20
  22
  24
  25
  27
  29
  31
  33
  36
  38
  40
  43
Earnings before tax, $m
  175
  190
  224
  259
  296
  334
  374
  416
  459
  505
  552
  622
  674
  728
  784
  843
  904
  969
  1,036
  1,107
  1,181
  1,259
  1,340
  1,426
  1,516
  1,610
  1,709
  1,814
  1,923
  2,038
  2,159
Tax expense, $m
  49
  51
  60
  70
  80
  90
  101
  112
  124
  136
  149
  168
  182
  196
  212
  228
  244
  262
  280
  299
  319
  340
  362
  385
  409
  435
  462
  490
  519
  550
  583
Net income, $m
  126
  139
  164
  189
  216
  244
  273
  304
  335
  368
  403
  454
  492
  531
  572
  615
  660
  707
  756
  808
  862
  919
  979
  1,041
  1,107
  1,176
  1,248
  1,324
  1,404
  1,488
  1,576

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,107
  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
  2,477
  1,488
  1,611
  1,739
  1,871
  2,009
  2,152
  2,301
  2,456
  2,616
  2,784
  2,958
  3,139
  3,328
  3,525
  3,730
  3,944
  4,168
  4,401
  4,645
  4,900
  5,166
  5,445
  5,736
  6,042
  6,361
  6,696
  7,046
  7,413
  7,798
  8,201
Adjusted assets (=assets-cash), $m
  1,370
  1,488
  1,611
  1,739
  1,871
  2,009
  2,152
  2,301
  2,456
  2,616
  2,784
  2,958
  3,139
  3,328
  3,525
  3,730
  3,944
  4,168
  4,401
  4,645
  4,900
  5,166
  5,445
  5,736
  6,042
  6,361
  6,696
  7,046
  7,413
  7,798
  8,201
Revenue / Adjusted assets
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
  0.958
Average production assets, $m
  285
  309
  335
  361
  389
  418
  447
  478
  510
  544
  579
  615
  653
  692
  733
  775
  820
  866
  915
  966
  1,019
  1,074
  1,132
  1,193
  1,256
  1,322
  1,392
  1,465
  1,541
  1,621
  1,705
Working capital, $m
  1,620
  558
  603
  651
  701
  752
  806
  862
  920
  980
  1,043
  1,108
  1,176
  1,247
  1,320
  1,397
  1,477
  1,561
  1,649
  1,740
  1,835
  1,935
  2,040
  2,149
  2,263
  2,383
  2,508
  2,639
  2,777
  2,921
  3,072
Total debt, $m
  0
  23
  47
  71
  96
  123
  150
  178
  208
  239
  271
  304
  339
  375
  412
  451
  492
  535
  580
  626
  675
  726
  779
  835
  893
  954
  1,018
  1,085
  1,155
  1,228
  1,305
Total liabilities, $m
  261
  284
  308
  332
  357
  384
  411
  439
  469
  500
  532
  565
  600
  636
  673
  712
  753
  796
  841
  887
  936
  987
  1,040
  1,096
  1,154
  1,215
  1,279
  1,346
  1,416
  1,489
  1,566
Total equity, $m
  2,216
  1,204
  1,303
  1,407
  1,514
  1,625
  1,741
  1,861
  1,987
  2,117
  2,252
  2,393
  2,540
  2,692
  2,852
  3,018
  3,191
  3,372
  3,561
  3,758
  3,964
  4,180
  4,405
  4,641
  4,888
  5,146
  5,417
  5,700
  5,997
  6,308
  6,634
Total liabilities and equity, $m
  2,477
  1,488
  1,611
  1,739
  1,871
  2,009
  2,152
  2,300
  2,456
  2,617
  2,784
  2,958
  3,140
  3,328
  3,525
  3,730
  3,944
  4,168
  4,402
  4,645
  4,900
  5,167
  5,445
  5,737
  6,042
  6,361
  6,696
  7,046
  7,413
  7,797
  8,200
Debt-to-equity ratio
  0.000
  0.020
  0.040
  0.050
  0.060
  0.080
  0.090
  0.100
  0.100
  0.110
  0.120
  0.130
  0.130
  0.140
  0.140
  0.150
  0.150
  0.160
  0.160
  0.170
  0.170
  0.170
  0.180
  0.180
  0.180
  0.190
  0.190
  0.190
  0.190
  0.190
  0.200
Adjusted equity ratio
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809
  0.809

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  126
  139
  164
  189
  216
  244
  273
  304
  335
  368
  403
  454
  492
  531
  572
  615
  660
  707
  756
  808
  862
  919
  979
  1,041
  1,107
  1,176
  1,248
  1,324
  1,404
  1,488
  1,576
Depreciation, amort., depletion, $m
  43
  48
  50
  52
  55
  57
  60
  63
  65
  68
  71
  53
  56
  60
  63
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
  133
  140
  147
Funds from operations, $m
  223
  187
  214
  242
  271
  301
  333
  366
  401
  437
  474
  507
  548
  591
  635
  682
  731
  782
  835
  891
  950
  1,012
  1,076
  1,144
  1,215
  1,290
  1,368
  1,450
  1,537
  1,627
  1,723
Change in working capital, $m
  28
  44
  46
  48
  50
  52
  54
  56
  58
  60
  63
  65
  68
  71
  74
  77
  80
  84
  87
  91
  95
  100
  104
  109
  114
  120
  125
  131
  137
  144
  151
Cash from operations, $m
  195
  143
  168
  194
  221
  250
  279
  310
  343
  376
  411
  442
  480
  520
  562
  605
  651
  698
  748
  800
  855
  912
  972
  1,035
  1,101
  1,170
  1,243
  1,319
  1,399
  1,483
  1,572
Maintenance CAPEX, $m
  0
  -25
  -27
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -63
  -67
  -71
  -75
  -79
  -83
  -88
  -93
  -98
  -103
  -108
  -114
  -120
  -126
  -133
  -140
New CAPEX, $m
  -66
  -24
  -25
  -27
  -28
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -45
  -46
  -49
  -51
  -53
  -55
  -58
  -61
  -63
  -66
  -70
  -73
  -76
  -80
  -84
Cash from investing activities, $m
  -4
  -49
  -52
  -56
  -59
  -63
  -66
  -70
  -73
  -77
  -82
  -86
  -91
  -95
  -101
  -106
  -112
  -117
  -124
  -130
  -136
  -143
  -151
  -159
  -166
  -174
  -184
  -193
  -202
  -213
  -224
Free cash flow, $m
  191
  94
  116
  139
  163
  188
  214
  241
  269
  299
  330
  356
  390
  425
  461
  499
  539
  581
  625
  670
  718
  769
  821
  876
  934
  995
  1,059
  1,126
  1,197
  1,271
  1,348
Issuance/(repayment) of debt, $m
  0
  23
  23
  24
  25
  26
  27
  28
  30
  31
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
  67
  70
  73
  77
Issuance/(repurchase) of shares, $m
  5
  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  
  6
  23
  23
  24
  25
  26
  27
  28
  30
  31
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  49
  51
  53
  56
  58
  61
  64
  67
  70
  73
  77
Total cash flow (excl. dividends), $m
  196
  117
  139
  163
  188
  214
  241
  269
  299
  330
  362
  389
  424
  461
  499
  539
  580
  624
  669
  717
  767
  819
  874
  932
  993
  1,056
  1,123
  1,193
  1,267
  1,344
  1,425
Retained Cash Flow (-), $m
  -39
  -95
  -99
  -103
  -107
  -111
  -116
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -159
  -166
  -173
  -181
  -189
  -197
  -206
  -216
  -225
  -236
  -247
  -258
  -271
  -283
  -297
  -311
  -326
Prev. year cash balance distribution, $m
 
  1,107
  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
 
  1,129
  40
  60
  81
  102
  125
  149
  174
  199
  226
  248
  278
  308
  339
  372
  407
  443
  480
  520
  561
  604
  649
  696
  746
  798
  852
  910
  970
  1,033
  1,099
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
 
  1,082
  36
  52
  66
  79
  91
  101
  109
  115
  119
  118
  118
  117
  114
  109
  103
  96
  88
  80
  71
  62
  54
  46
  38
  31
  25
  20
  15
  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

AVX Corporation, together with its subsidiaries, manufactures and supplies various passive electronic components, interconnect devices, and related products worldwide. The company operates through three segments: Passive Components, Kyocera Electronic Devices (KED Resale), and Interconnect. The Passive Components segment primarily offers surface mount and leaded ceramic capacitors, RF thick and thin film components, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, ceramic and film power capacitors, super capacitors, EMI filters, thick and thin film packages of multiple passive integrated components, varistors, thermistors, inductors, and resistive products. This segmentÂ’s product portfolio enables its customers to store, filter, or regulate electric energy in electronic devices. The KED Resale segment distributes and sells ceramic capacitors, frequency control devices, SAW devices, sensor products, RF modules, actuators, acoustic devices, and connectors produced by Kyocera Corporation of Japan. The Interconnect segment manufactures and resells electronic connectors and interconnect systems for use in various industries. It serves various industries, such as telecommunications, information technology hardware, automotive electronics, medical devices and instrumentation, industrial instrumentation, transportation, energy harvesting, defense and aerospace electronic systems, and consumer electronics industries. The company markets its products through its direct sales force and independent manufacturersÂ’ representatives to multi-national original equipment manufacturers, independent electronic component distributors, and electronic manufacturing service providers. The company was founded in 1972 and is headquartered in Fountain Inn, South Carolina. AVX Corporation is a subsidiary of Kyocera Corporation.

FINANCIAL RATIOS  of  AVX (AVX)

Valuation Ratios
P/E Ratio 22.4
Price to Sales 2.1
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 14.5
Price to Free Cash Flow 21.9
Growth Rates
Sales Growth Rate 9.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 37.5%
Cap. Spend. - 3 Yr. Gr. Rate 19.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 5.2%
Ret/ On Assets - 3 Yr. Avg. 6.2%
Return On Total Capital 5.7%
Ret/ On T. Cap. - 3 Yr. Avg. 7.1%
Return On Equity 5.7%
Return On Equity - 3 Yr. Avg. 7.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 21.7%
Gross Margin - 3 Yr. Avg. 23.4%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 16.7%
Operating Margin 12.5%
Oper. Margin - 3 Yr. Avg. 12.9%
Pre-Tax Margin 13.3%
Pre-Tax Margin - 3 Yr. Avg. 13.5%
Net Profit Margin 9.6%
Net Profit Margin - 3 Yr. Avg. 11.6%
Effective Tax Rate 28%
Eff/ Tax Rate - 3 Yr. Avg. 15.8%
Payout Ratio 57.1%

AVX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AVX stock intrinsic value calculation we used $1313 million for the last fiscal year's total revenue generated by AVX. The default revenue input number comes from 2017 income statement of AVX. 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 AVX stock valuation model: a) initial revenue growth rate of 8.6% 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 AVX is calculated based on our internal credit rating of AVX, 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 AVX.
    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 AVX stock the variable cost ratio is equal to 65.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $292 million in the base year in the intrinsic value calculation for AVX 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 AVX.

Corporate tax rate of 27% is the nominal tax rate for AVX. 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 AVX 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 AVX are equal to 21.7%.

Life of production assets of 11.6 years is the average useful life of capital assets used in AVX 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 AVX is equal to 39.1%. 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 - $2216 million for AVX - 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 163.125 million for AVX 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 AVX at the current share price and the inputted number of shares is $2.7 billion.

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COMPANY NEWS

▶ AVX Corporation Declares Dividend   [Aug-03-17 08:30AM  Business Wire]
▶ New Strong Buy Stocks for August 1st   [Aug-01-17 10:21AM  Zacks]
▶ Top Ranked Income Stocks to Buy for July 31st   [Jul-31-17 10:12AM  Zacks]
▶ AVX Received a 2017 Bosch Global Supplier Award   [Jul-27-17 09:30AM  GlobeNewswire]
▶ AVX posts 1Q profit   [Jul-26-17 09:54PM  Associated Press]
▶ ETFs with exposure to AVX Corp. : July 24, 2017   [Jul-24-17 02:14PM  Capital Cube]
▶ ETFs with exposure to AVX Corp. : July 14, 2017   [Jul-14-17 12:59PM  Capital Cube]
▶ AVX Corp. Value Analysis (NYSE:AVX) : July 11, 2017   [Jul-11-17 03:20PM  Capital Cube]
▶ AVX is Showcasing its RF/Microwave Solutions at IMS 2017   [Jun-05-17 07:30AM  GlobeNewswire]
▶ ETFs with exposure to AVX Corp. : May 25, 2017   [May-25-17 12:35PM  Capital Cube]
▶ AVX Corporation Declares Dividend   [09:35AM  Business Wire]
▶ AVX Corp. Value Analysis (NYSE:AVX) : May 19, 2017   [May-19-17 02:21PM  Capital Cube]
▶ AVX to Launch New Products at EDS 2017   [May-02-17 09:30AM  Marketwired]
▶ AVX posts 4Q profit   [Apr-28-17 08:42AM  Associated Press]
▶ Top Ranked Income Stocks to Buy for April 24th   [Apr-24-17 11:13AM  Zacks]
▶ AVX to Launch New EV/HEV Capacitors at APEC 2017   [Mar-07-17 09:30AM  Marketwired]
▶ AVX Corporation Declares Dividend   [08:30AM  Business Wire]
▶ AVX posts 3Q profit   [08:41AM  AP]
▶ Is AVX Corporation (AVX) A Good Stock To Buy?   [Dec-02-16 10:03AM  at Insider Monkey]
▶ AVX is Exhibiting at Electronica 2016   [Oct-24-16 09:30AM  Marketwired]
Stock chart of AVX Financial statements of AVX
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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