Intrinsic value of Boise Cascade - BCC

Previous Close

$35.15

  Intrinsic Value

$17.90

stock screener

  Rating & Target

sell

-49%

  Value-price divergence*

-66%

Previous close

$35.15

 
Intrinsic value

$17.90

 
Up/down potential

-49%

 
Rating

sell

 
Value-price divergence*

-66%

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

We calculate the intrinsic value of BCC 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 1.4

 

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, %
  7.65
  9.10
  8.69
  8.32
  7.99
  7.69
  7.42
  7.18
  6.96
  6.76
  6.59
  6.43
  6.29
  6.16
  6.04
  5.94
  5.84
  5.76
  5.68
  5.62
  5.55
  5.50
  5.45
  5.40
  5.36
  5.33
  5.29
  5.26
  5.24
  5.21
  5.19
Revenue, $m
  3,911
  4,267
  4,638
  5,024
  5,425
  5,842
  6,276
  6,726
  7,194
  7,681
  8,187
  8,714
  9,261
  9,832
  10,426
  11,045
  11,690
  12,364
  13,066
  13,800
  14,566
  15,367
  16,205
  17,080
  17,996
  18,955
  19,959
  21,009
  22,110
  23,263
  24,471
Variable operating expenses, $m
 
  4,147
  4,507
  4,881
  5,271
  5,676
  6,097
  6,534
  6,988
  7,461
  7,952
  8,457
  8,989
  9,543
  10,119
  10,720
  11,346
  12,000
  12,682
  13,394
  14,138
  14,915
  15,728
  16,578
  17,467
  18,398
  19,372
  20,392
  21,460
  22,579
  23,751
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
  3,846
  4,147
  4,507
  4,881
  5,271
  5,676
  6,097
  6,534
  6,988
  7,461
  7,952
  8,457
  8,989
  9,543
  10,119
  10,720
  11,346
  12,000
  12,682
  13,394
  14,138
  14,915
  15,728
  16,578
  17,467
  18,398
  19,372
  20,392
  21,460
  22,579
  23,751
Operating income, $m
  65
  120
  131
  142
  154
  166
  179
  192
  206
  220
  235
  256
  272
  289
  307
  325
  344
  364
  384
  406
  428
  452
  477
  502
  529
  557
  587
  618
  650
  684
  720
EBITDA, $m
  140
  201
  219
  237
  256
  276
  296
  317
  339
  362
  386
  411
  437
  464
  492
  521
  552
  583
  617
  651
  687
  725
  765
  806
  849
  894
  942
  991
  1,043
  1,098
  1,155
Interest expense (income), $m
  21
  24
  28
  32
  37
  42
  46
  52
  57
  63
  68
  74
  81
  87
  94
  101
  108
  116
  124
  132
  141
  150
  159
  169
  180
  191
  202
  214
  226
  239
  253
Earnings before tax, $m
  43
  96
  103
  110
  117
  125
  133
  141
  149
  158
  167
  182
  192
  202
  213
  224
  236
  248
  260
  274
  288
  302
  317
  333
  350
  367
  385
  404
  424
  445
  467
Tax expense, $m
  5
  26
  28
  30
  32
  34
  36
  38
  40
  43
  45
  49
  52
  55
  57
  60
  64
  67
  70
  74
  78
  82
  86
  90
  94
  99
  104
  109
  114
  120
  126
Net income, $m
  38
  70
  75
  80
  86
  91
  97
  103
  109
  115
  122
  133
  140
  148
  155
  163
  172
  181
  190
  200
  210
  220
  232
  243
  255
  268
  281
  295
  309
  325
  341

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  104
  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
  1,439
  1,456
  1,583
  1,715
  1,852
  1,994
  2,142
  2,296
  2,455
  2,622
  2,794
  2,974
  3,161
  3,356
  3,558
  3,770
  3,990
  4,220
  4,459
  4,710
  4,971
  5,245
  5,531
  5,829
  6,142
  6,469
  6,812
  7,170
  7,546
  7,940
  8,352
Adjusted assets (=assets-cash), $m
  1,335
  1,456
  1,583
  1,715
  1,852
  1,994
  2,142
  2,296
  2,455
  2,622
  2,794
  2,974
  3,161
  3,356
  3,558
  3,770
  3,990
  4,220
  4,459
  4,710
  4,971
  5,245
  5,531
  5,829
  6,142
  6,469
  6,812
  7,170
  7,546
  7,940
  8,352
Revenue / Adjusted assets
  2.930
  2.931
  2.930
  2.929
  2.929
  2.930
  2.930
  2.929
  2.930
  2.929
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
  2.930
Average production assets, $m
  499
  546
  594
  643
  694
  748
  803
  861
  921
  983
  1,048
  1,115
  1,185
  1,258
  1,334
  1,414
  1,496
  1,583
  1,672
  1,766
  1,865
  1,967
  2,074
  2,186
  2,304
  2,426
  2,555
  2,689
  2,830
  2,978
  3,132
Working capital, $m
  447
  375
  408
  442
  477
  514
  552
  592
  633
  676
  720
  767
  815
  865
  917
  972
  1,029
  1,088
  1,150
  1,214
  1,282
  1,352
  1,426
  1,503
  1,584
  1,668
  1,756
  1,849
  1,946
  2,047
  2,153
Total debt, $m
  438
  515
  597
  681
  770
  861
  956
  1,055
  1,158
  1,265
  1,376
  1,491
  1,611
  1,737
  1,867
  2,003
  2,144
  2,292
  2,446
  2,607
  2,776
  2,951
  3,135
  3,327
  3,528
  3,739
  3,959
  4,190
  4,431
  4,684
  4,949
Total liabilities, $m
  859
  936
  1,018
  1,102
  1,191
  1,282
  1,377
  1,476
  1,579
  1,686
  1,797
  1,912
  2,032
  2,158
  2,288
  2,424
  2,565
  2,713
  2,867
  3,028
  3,197
  3,372
  3,556
  3,748
  3,949
  4,160
  4,380
  4,611
  4,852
  5,105
  5,370
Total equity, $m
  580
  520
  565
  612
  661
  712
  765
  820
  877
  936
  998
  1,062
  1,128
  1,198
  1,270
  1,346
  1,424
  1,506
  1,592
  1,681
  1,775
  1,872
  1,974
  2,081
  2,193
  2,310
  2,432
  2,560
  2,694
  2,834
  2,982
Total liabilities and equity, $m
  1,439
  1,456
  1,583
  1,714
  1,852
  1,994
  2,142
  2,296
  2,456
  2,622
  2,795
  2,974
  3,160
  3,356
  3,558
  3,770
  3,989
  4,219
  4,459
  4,709
  4,972
  5,244
  5,530
  5,829
  6,142
  6,470
  6,812
  7,171
  7,546
  7,939
  8,352
Debt-to-equity ratio
  0.755
  0.990
  1.060
  1.110
  1.160
  1.210
  1.250
  1.290
  1.320
  1.350
  1.380
  1.400
  1.430
  1.450
  1.470
  1.490
  1.510
  1.520
  1.540
  1.550
  1.560
  1.580
  1.590
  1.600
  1.610
  1.620
  1.630
  1.640
  1.640
  1.650
  1.660
Adjusted equity ratio
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357
  0.357

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  38
  70
  75
  80
  86
  91
  97
  103
  109
  115
  122
  133
  140
  148
  155
  163
  172
  181
  190
  200
  210
  220
  232
  243
  255
  268
  281
  295
  309
  325
  341
Depreciation, amort., depletion, $m
  75
  81
  88
  95
  102
  109
  117
  125
  133
  142
  151
  155
  165
  175
  185
  196
  208
  220
  232
  245
  259
  273
  288
  304
  320
  337
  355
  374
  393
  414
  435
Funds from operations, $m
  174
  152
  163
  175
  188
  200
  214
  228
  242
  257
  273
  288
  305
  322
  341
  360
  380
  401
  422
  445
  469
  494
  520
  547
  575
  605
  636
  668
  703
  738
  776
Change in working capital, $m
  22
  31
  33
  34
  35
  37
  38
  40
  41
  43
  45
  46
  48
  50
  52
  54
  57
  59
  62
  65
  67
  70
  74
  77
  81
  84
  88
  92
  97
  101
  106
Cash from operations, $m
  152
  120
  131
  141
  152
  164
  176
  188
  201
  214
  228
  241
  256
  272
  288
  305
  323
  341
  361
  381
  401
  423
  446
  470
  494
  520
  548
  576
  606
  637
  669
Maintenance CAPEX, $m
  0
  -69
  -76
  -82
  -89
  -96
  -104
  -112
  -120
  -128
  -137
  -146
  -155
  -165
  -175
  -185
  -196
  -208
  -220
  -232
  -245
  -259
  -273
  -288
  -304
  -320
  -337
  -355
  -374
  -393
  -414
New CAPEX, $m
  -84
  -47
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -67
  -70
  -73
  -76
  -79
  -83
  -86
  -90
  -94
  -98
  -103
  -107
  -112
  -117
  -123
  -128
  -135
  -141
  -148
  -155
Cash from investing activities, $m
  -299
  -116
  -123
  -131
  -140
  -149
  -159
  -170
  -180
  -190
  -202
  -213
  -225
  -238
  -251
  -264
  -279
  -294
  -310
  -326
  -343
  -362
  -380
  -400
  -421
  -443
  -465
  -490
  -515
  -541
  -569
Free cash flow, $m
  -147
  4
  7
  9
  12
  14
  16
  19
  22
  24
  27
  28
  31
  34
  38
  41
  44
  47
  51
  54
  58
  62
  66
  69
  74
  78
  82
  87
  91
  96
  101
Issuance/(repayment) of debt, $m
  84
  77
  81
  85
  88
  92
  95
  99
  103
  107
  111
  116
  120
  125
  130
  136
  142
  148
  154
  161
  168
  176
  184
  192
  201
  210
  220
  231
  242
  253
  265
Issuance/(repurchase) of shares, $m
  -10
  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  
  66
  77
  81
  85
  88
  92
  95
  99
  103
  107
  111
  116
  120
  125
  130
  136
  142
  148
  154
  161
  168
  176
  184
  192
  201
  210
  220
  231
  242
  253
  265
Total cash flow (excl. dividends), $m
  -81
  81
  89
  94
  100
  105
  111
  118
  124
  131
  138
  144
  152
  160
  168
  177
  186
  195
  205
  215
  226
  237
  249
  262
  275
  288
  302
  317
  333
  349
  366
Retained Cash Flow (-), $m
  -45
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -59
  -62
  -64
  -67
  -69
  -72
  -75
  -79
  -82
  -86
  -89
  -93
  -98
  -102
  -107
  -112
  -117
  -122
  -128
  -134
  -140
  -147
Prev. year cash balance distribution, $m
 
  104
  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
 
  141
  43
  47
  51
  55
  59
  63
  67
  72
  76
  80
  85
  90
  96
  101
  107
  113
  119
  126
  133
  140
  147
  155
  163
  171
  180
  189
  199
  209
  219
Discount rate, %
 
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
 
  134
  39
  39
  39
  39
  39
  38
  37
  35
  33
  31
  28
  26
  23
  21
  18
  16
  14
  11
  9
  8
  6
  5
  4
  3
  2
  1
  1
  1
  0
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

Boise Cascade Company is an integrated wood products manufacturer and building materials distributor with operations throughout the United States and one manufacturing facility in Canada. The Company is also a producer of engineered wood products (EWP) and plywood in North America. The Company operates through three segments: Wood Products, Building Materials Distribution, and Corporate and Other. The Company's products are used primarily in new residential construction, residential repair-and-remodeling projects, light commercial construction and industrial applications. The Company manufactures laminated veneer lumber (LVL), I-joists, and laminated beams, which are referred to as EWP. The Company's Building Materials Distribution segment sells a range of building materials, including OSB, plywood and lumber (collectively commodities). The Company's subsidiaries include Boise Cascade Wood Products, L.L.C. and Boise Cascade Building Materials Distribution, L.L.C.

FINANCIAL RATIOS  of  Boise Cascade (BCC)

Valuation Ratios
P/E Ratio 35.5
Price to Sales 0.3
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 8.9
Price to Free Cash Flow 19.8
Growth Rates
Sales Growth Rate 7.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.5%
Cap. Spend. - 3 Yr. Gr. Rate 12.8%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 75.5%
Total Debt to Equity 75.5%
Interest Coverage 3
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. 5.9%
Return On Total Capital 4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.9%
Return On Equity 6.8%
Return On Equity - 3 Yr. Avg. 11.3%
Asset Turnover 2.9
Profitability Ratios
Gross Margin 13.1%
Gross Margin - 3 Yr. Avg. 13.5%
EBITDA Margin 3.6%
EBITDA Margin - 3 Yr. Avg. 4.5%
Operating Margin 1.7%
Oper. Margin - 3 Yr. Avg. 2.9%
Pre-Tax Margin 1.1%
Pre-Tax Margin - 3 Yr. Avg. 2.3%
Net Profit Margin 1%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 11.6%
Eff/ Tax Rate - 3 Yr. Avg. 27.5%
Payout Ratio 0%

BCC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BCC stock intrinsic value calculation we used $3911 million for the last fiscal year's total revenue generated by Boise Cascade. The default revenue input number comes from 2016 income statement of Boise Cascade. 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 BCC stock valuation model: a) initial revenue growth rate of 9.1% 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 5.6%, whose default value for BCC is calculated based on our internal credit rating of Boise Cascade, 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 Boise Cascade.
    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 BCC stock the variable cost ratio is equal to 97.2%.

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 BCC 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 5.4% for Boise Cascade.

Corporate tax rate of 27% is the nominal tax rate for Boise Cascade. 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 BCC 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 BCC are equal to 12.8%.

Life of production assets of 7.2 years is the average useful life of capital assets used in Boise Cascade 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 BCC is equal to 8.8%. 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 - $580 million for Boise Cascade - 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 39.168 million for Boise Cascade 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 Boise Cascade at the current share price and the inputted number of shares is $1.4 billion.

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JCTCF Jewett-Cameron 13.75 3.02  str.sell
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WY Weyerhaeuser 35.18 9.05  str.sell

COMPANY NEWS

▶ Boise Cascade Shows Market Leadership With Jump To 91 RS Rating   [Sep-26-17 03:00AM  Investor's Business Daily]
▶ Boise Cascade Earns Relative Strength Rating Upgrade; Hits Key Threshold   [Sep-08-17 03:00AM  Investor's Business Daily]
▶ Boise Cascade Clears Key Benchmark, Hitting 80-Plus RS Rating   [Aug-28-17 03:00AM  Investor's Business Daily]
▶ Boise Cascade posts 2Q profit   [Jul-28-17 01:24AM  Associated Press]
▶ ETFs with exposure to Boise Cascade Co. : July 27, 2017   [Jul-27-17 02:13PM  Capital Cube]
▶ ETFs with exposure to Boise Cascade Co. : July 17, 2017   [Jul-17-17 01:38PM  Capital Cube]
▶ ETFs with exposure to Boise Cascade Co. : July 5, 2017   [Jul-05-17 12:32PM  Capital Cube]
▶ ETFs with exposure to Boise Cascade Co. : June 19, 2017   [Jun-19-17 02:59PM  Capital Cube]
▶ Top Ranked Growth Stocks to Buy for June 5th   [Jun-05-17 11:39AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for June 1st   [Jun-01-17 11:41AM  Zacks]
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▶ Wood Stocks Are Burning Up The Charts   [May-17-17 04:48PM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for May 11th   [May-11-17 11:26AM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for May 8th   [May-08-17 10:52AM  Zacks]
▶ IIROC Trade Resumption - BCC   [May-03-17 02:17PM  CNW Group]
▶ IIROC Trading Halt - BCC   [01:52PM  PR Newswire]
▶ Boise Cascade posts 1Q profit   [05:56AM  Associated Press]
▶ New Strong Buy Stocks for April 20th   [Apr-20-17 10:06AM  Zacks]
▶ Get Ready To Be Surprised This Earnings Season   [Apr-11-17 03:20PM  Zacks]
▶ ETFs with exposure to Boise Cascade Co. : April 7, 2017   [Apr-07-17 03:56PM  Capital Cube]
▶ Today's Strong Buy Stocks at New Highs   [Apr-05-17 08:35PM  Zacks]
▶ [$$] John Fery Slimmed Boise Cascade Down to Core Wood and Paper Lines   [Mar-03-17 11:10PM  The Wall Street Journal]
▶ 4 Winning Stocks to Boost Your Gains in March   [Feb-28-17 11:32AM  Zacks]
Financial statements of BCC
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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