Intrinsic value of Amplify Snack Brands - BETR

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$9.00

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$9.00

 
Intrinsic value

$66.65

 
Up/down potential

+641%

 
Rating

str. buy

 
Value-price divergence* premium content

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

We calculate the intrinsic value of BETR 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 0.7

 

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, %
  47.28
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  271
  434
  670
  1,002
  1,454
  2,051
  2,819
  3,785
  4,969
  6,394
  8,077
  10,029
  12,262
  14,780
  17,585
  20,677
  24,052
  27,706
  31,632
  35,825
  40,278
  44,985
  49,942
  55,144
  60,589
  66,277
  72,208
  78,384
  84,810
  91,492
  98,437
Variable operating expenses, $m
 
  314
  477
  705
  1,017
  1,428
  1,958
  2,622
  3,439
  4,420
  5,579
  6,909
  8,447
  10,182
  12,114
  14,244
  16,570
  19,087
  21,792
  24,680
  27,748
  30,991
  34,406
  37,989
  41,741
  45,659
  49,745
  54,000
  58,427
  63,030
  67,814
Fixed operating expenses, $m
 
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
Total operating expenses, $m
  212
  324
  488
  716
  1,028
  1,439
  1,970
  2,634
  3,451
  4,432
  5,592
  6,922
  8,460
  10,196
  12,128
  14,258
  16,585
  19,102
  21,808
  24,696
  27,764
  31,008
  34,423
  38,007
  41,759
  45,678
  49,764
  54,019
  58,447
  63,050
  67,835
Operating income, $m
  59
  109
  183
  286
  426
  611
  850
  1,150
  1,519
  1,962
  2,485
  3,107
  3,801
  4,584
  5,456
  6,418
  7,467
  8,604
  9,825
  11,129
  12,514
  13,978
  15,519
  17,137
  18,831
  20,599
  22,444
  24,365
  26,363
  28,442
  30,601
EBITDA, $m
  66
  148
  234
  355
  520
  737
  1,018
  1,370
  1,802
  2,322
  2,935
  3,648
  4,462
  5,381
  6,405
  7,533
  8,765
  10,098
  11,531
  13,061
  14,686
  16,404
  18,213
  20,111
  22,098
  24,174
  26,338
  28,592
  30,938
  33,376
  35,911
Interest expense (income), $m
  18
  27
  46
  76
  118
  175
  251
  348
  470
  620
  801
  1,014
  1,261
  1,543
  1,862
  2,217
  2,609
  3,036
  3,499
  3,996
  4,527
  5,091
  5,686
  6,314
  6,973
  7,662
  8,382
  9,133
  9,915
  10,728
  11,574
Earnings before tax, $m
  43
  83
  137
  210
  308
  436
  600
  802
  1,048
  1,341
  1,684
  2,093
  2,540
  3,040
  3,594
  4,200
  4,859
  5,568
  6,326
  7,133
  7,987
  8,887
  9,833
  10,823
  11,858
  12,937
  14,062
  15,232
  16,449
  17,713
  19,027
Tax expense, $m
  16
  22
  37
  57
  83
  118
  162
  217
  283
  362
  455
  565
  686
  821
  970
  1,134
  1,312
  1,503
  1,708
  1,926
  2,156
  2,400
  2,655
  2,922
  3,202
  3,493
  3,797
  4,113
  4,441
  4,783
  5,137
Net income, $m
  27
  60
  100
  153
  225
  319
  438
  586
  765
  979
  1,229
  1,528
  1,854
  2,220
  2,624
  3,066
  3,547
  4,064
  4,618
  5,207
  5,830
  6,488
  7,178
  7,901
  8,656
  9,444
  10,265
  11,119
  12,007
  12,931
  13,890

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  838
  1,326
  2,049
  3,064
  4,445
  6,272
  8,622
  11,574
  15,197
  19,555
  24,699
  30,671
  37,498
  45,198
  53,776
  63,231
  73,553
  84,727
  96,735
  109,557
  123,175
  137,570
  152,728
  168,636
  185,288
  202,682
  220,818
  239,706
  259,358
  279,791
  301,029
Adjusted assets (=assets-cash), $m
  828
  1,326
  2,049
  3,064
  4,445
  6,272
  8,622
  11,574
  15,197
  19,555
  24,699
  30,671
  37,498
  45,198
  53,776
  63,231
  73,553
  84,727
  96,735
  109,557
  123,175
  137,570
  152,728
  168,636
  185,288
  202,682
  220,818
  239,706
  259,358
  279,791
  301,029
Revenue / Adjusted assets
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
Average production assets, $m
  439
  702
  1,084
  1,621
  2,352
  3,318
  4,562
  6,123
  8,040
  10,346
  13,068
  16,227
  19,840
  23,913
  28,452
  33,455
  38,916
  44,828
  51,181
  57,965
  65,170
  72,786
  80,806
  89,223
  98,033
  107,236
  116,832
  126,825
  137,223
  148,034
  159,270
Working capital, $m
  19
  26
  40
  59
  86
  121
  166
  223
  293
  377
  477
  592
  723
  872
  1,038
  1,220
  1,419
  1,635
  1,866
  2,114
  2,376
  2,654
  2,947
  3,253
  3,575
  3,910
  4,260
  4,625
  5,004
  5,398
  5,808
Total debt, $m
  592
  999
  1,650
  2,563
  3,807
  5,451
  7,566
  10,222
  13,483
  17,405
  22,035
  27,410
  33,554
  40,484
  48,205
  56,714
  66,004
  76,060
  86,867
  98,408
  110,663
  123,619
  137,261
  151,579
  166,565
  182,219
  198,543
  215,542
  233,228
  251,618
  270,732
Total liabilities, $m
  787
  1,193
  1,844
  2,757
  4,001
  5,645
  7,760
  10,416
  13,677
  17,599
  22,229
  27,604
  33,748
  40,678
  48,399
  56,908
  66,198
  76,254
  87,061
  98,602
  110,857
  123,813
  137,455
  151,773
  166,759
  182,413
  198,737
  215,736
  233,422
  251,812
  270,926
Total equity, $m
  52
  133
  205
  306
  445
  627
  862
  1,157
  1,520
  1,955
  2,470
  3,067
  3,750
  4,520
  5,378
  6,323
  7,355
  8,473
  9,673
  10,956
  12,317
  13,757
  15,273
  16,864
  18,529
  20,268
  22,082
  23,971
  25,936
  27,979
  30,103
Total liabilities and equity, $m
  839
  1,326
  2,049
  3,063
  4,446
  6,272
  8,622
  11,573
  15,197
  19,554
  24,699
  30,671
  37,498
  45,198
  53,777
  63,231
  73,553
  84,727
  96,734
  109,558
  123,174
  137,570
  152,728
  168,637
  185,288
  202,681
  220,819
  239,707
  259,358
  279,791
  301,029
Debt-to-equity ratio
  11.385
  7.540
  8.050
  8.370
  8.560
  8.690
  8.780
  8.830
  8.870
  8.900
  8.920
  8.940
  8.950
  8.960
  8.960
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
Adjusted equity ratio
  0.051
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  27
  60
  100
  153
  225
  319
  438
  586
  765
  979
  1,229
  1,528
  1,854
  2,220
  2,624
  3,066
  3,547
  4,064
  4,618
  5,207
  5,830
  6,488
  7,178
  7,901
  8,656
  9,444
  10,265
  11,119
  12,007
  12,931
  13,890
Depreciation, amort., depletion, $m
  7
  39
  51
  69
  94
  126
  167
  219
  283
  360
  451
  541
  661
  797
  948
  1,115
  1,297
  1,494
  1,706
  1,932
  2,172
  2,426
  2,694
  2,974
  3,268
  3,575
  3,894
  4,228
  4,574
  4,934
  5,309
Funds from operations, $m
  -46
  99
  151
  222
  318
  444
  605
  805
  1,048
  1,339
  1,680
  2,069
  2,516
  3,017
  3,572
  4,181
  4,844
  5,559
  6,324
  7,139
  8,003
  8,914
  9,871
  10,875
  11,924
  13,019
  14,160
  15,347
  16,582
  17,865
  19,199
Change in working capital, $m
  -45
  10
  14
  20
  27
  35
  45
  57
  70
  84
  99
  115
  132
  149
  166
  182
  199
  216
  232
  247
  263
  278
  292
  307
  321
  336
  350
  364
  379
  394
  410
Cash from operations, $m
  -1
  257
  137
  203
  292
  409
  560
  748
  979
  1,255
  1,581
  1,954
  2,384
  2,868
  3,407
  3,999
  4,645
  5,343
  6,092
  6,892
  7,740
  8,636
  9,579
  10,568
  11,603
  12,683
  13,810
  14,982
  16,202
  17,471
  18,789
Maintenance CAPEX, $m
  0
  -15
  -23
  -36
  -54
  -78
  -111
  -152
  -204
  -268
  -345
  -436
  -541
  -661
  -797
  -948
  -1,115
  -1,297
  -1,494
  -1,706
  -1,932
  -2,172
  -2,426
  -2,694
  -2,974
  -3,268
  -3,575
  -3,894
  -4,228
  -4,574
  -4,934
New CAPEX, $m
  -6
  -263
  -382
  -537
  -731
  -966
  -1,244
  -1,562
  -1,917
  -2,306
  -2,722
  -3,159
  -3,612
  -4,074
  -4,539
  -5,003
  -5,461
  -5,912
  -6,353
  -6,784
  -7,205
  -7,616
  -8,020
  -8,417
  -8,810
  -9,203
  -9,596
  -9,993
  -10,397
  -10,811
  -11,237
Cash from investing activities, $m
  -388
  -278
  -405
  -573
  -785
  -1,044
  -1,355
  -1,714
  -2,121
  -2,574
  -3,067
  -3,595
  -4,153
  -4,735
  -5,336
  -5,951
  -6,576
  -7,209
  -7,847
  -8,490
  -9,137
  -9,788
  -10,446
  -11,111
  -11,784
  -12,471
  -13,171
  -13,887
  -14,625
  -15,385
  -16,171
Free cash flow, $m
  -389
  -21
  -269
  -370
  -493
  -636
  -795
  -966
  -1,143
  -1,319
  -1,486
  -1,641
  -1,769
  -1,867
  -1,929
  -1,952
  -1,932
  -1,866
  -1,755
  -1,598
  -1,397
  -1,152
  -867
  -543
  -182
  213
  639
  1,095
  1,577
  2,086
  2,618
Issuance/(repayment) of debt, $m
  403
  414
  650
  914
  1,243
  1,644
  2,115
  2,656
  3,261
  3,922
  4,630
  5,374
  6,144
  6,930
  7,721
  8,510
  9,290
  10,057
  10,807
  11,540
  12,256
  12,956
  13,642
  14,318
  14,987
  15,654
  16,323
  16,999
  17,687
  18,390
  19,114
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  
  381
  414
  650
  914
  1,243
  1,644
  2,115
  2,656
  3,261
  3,922
  4,630
  5,374
  6,144
  6,930
  7,721
  8,510
  9,290
  10,057
  10,807
  11,540
  12,256
  12,956
  13,642
  14,318
  14,987
  15,654
  16,323
  16,999
  17,687
  18,390
  19,114
Total cash flow (excl. dividends), $m
  -8
  393
  382
  543
  750
  1,008
  1,321
  1,691
  2,118
  2,604
  3,144
  3,733
  4,375
  5,063
  5,791
  6,558
  7,358
  8,190
  9,052
  9,942
  10,859
  11,803
  12,775
  13,775
  14,805
  15,867
  16,962
  18,094
  19,264
  20,476
  21,732
Retained Cash Flow (-), $m
  -37
  -84
  -72
  -102
  -138
  -183
  -235
  -295
  -362
  -436
  -514
  -597
  -683
  -770
  -858
  -946
  -1,032
  -1,117
  -1,201
  -1,282
  -1,362
  -1,440
  -1,516
  -1,591
  -1,665
  -1,739
  -1,814
  -1,889
  -1,965
  -2,043
  -2,124
Prev. year cash balance distribution, $m
 
  3
  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
 
  313
  310
  442
  612
  826
  1,086
  1,395
  1,756
  2,168
  2,630
  3,136
  3,693
  4,293
  4,934
  5,612
  6,326
  7,073
  7,851
  8,660
  9,497
  10,364
  11,259
  12,184
  13,140
  14,128
  15,149
  16,205
  17,299
  18,432
  19,608
Discount rate, %
 
  13.70
  14.39
  15.10
  15.86
  16.65
  17.49
  18.36
  19.28
  20.24
  21.25
  22.32
  23.43
  24.60
  25.83
  27.13
  28.48
  29.91
  31.40
  32.97
  34.62
  36.35
  38.17
  40.08
  42.08
  44.18
  46.39
  48.71
  51.15
  53.71
  56.39
PV of cash for distribution, $m
 
  275
  237
  290
  340
  382
  413
  429
  429
  413
  383
  342
  295
  246
  198
  153
  115
  83
  58
  39
  25
  15
  9
  5
  3
  2
  1
  0
  0
  0
  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

Amplify Snack Brands, Inc., together with its subsidiaries, develops, markets, and distributes better-for-you snacking products in the United States and Canada. It provides ready-to-eat popcorn in various flavors, including original, white cheddar, black pepper and sea salt, naturally sweet, dusted dark chocolate, jalapeño, and hatch chile flavors under the SkinnyPop brand name; and tortilla chips in sea salt delights, nacho cheese especial, roasted jalapeño, grilled habanero, very verde good, and haunted ghost pepper flavors under the Paqui brand name. Amplify Snack Brands, Inc. offers its products through direct sales in combination with sales brokerage firms; and natural and conventional grocery, drug, convenience, club, mass merchandise, and independent food distributor channels, as well as over the Internet through third-party Websites. The company was formerly known as TA Holdings 1, Inc. and changed its name to Amplify Snack Brands, Inc. in June 2015. Amplify Snack Brands, Inc. was founded in 2010 and is headquartered in Austin, Texas.

FINANCIAL RATIOS  of  Amplify Snack Brands (BETR)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 2.5
Price to Book 12.8
Price to Tangible Book
Price to Cash Flow -664.6
Price to Free Cash Flow -94.9
Growth Rates
Sales Growth Rate 47.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.3%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 1125%
Total Debt to Equity 1138.5%
Interest Coverage 3
Management Effectiveness
Return On Assets 6.4%
Ret/ On Assets - 3 Yr. Avg. 10.9%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 10.5%
Return On Equity 80.6%
Return On Equity - 3 Yr. Avg. 50%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 48%
Gross Margin - 3 Yr. Avg. 53.3%
EBITDA Margin 25.1%
EBITDA Margin - 3 Yr. Avg. 27%
Operating Margin 21.8%
Oper. Margin - 3 Yr. Avg. 24.8%
Pre-Tax Margin 15.9%
Pre-Tax Margin - 3 Yr. Avg. 19.5%
Net Profit Margin 10%
Net Profit Margin - 3 Yr. Avg. 14%
Effective Tax Rate 37.2%
Eff/ Tax Rate - 3 Yr. Avg. 35.3%
Payout Ratio 0%

BETR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BETR stock intrinsic value calculation we used $271 million for the last fiscal year's total revenue generated by Amplify Snack Brands. The default revenue input number comes from 2016 income statement of Amplify Snack Brands. 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 BETR stock valuation model: a) initial revenue growth rate of 60% 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 13.7%, whose default value for BETR is calculated based on our internal credit rating of Amplify Snack Brands, 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 Amplify Snack Brands.
    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 BETR stock the variable cost ratio is equal to 74.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $10 million in the base year in the intrinsic value calculation for BETR 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 4.6% for Amplify Snack Brands.

Corporate tax rate of 27% is the nominal tax rate for Amplify Snack Brands. 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 BETR 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 BETR are equal to 161.8%.

Life of production assets of 76.9 years is the average useful life of capital assets used in Amplify Snack Brands 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 BETR is equal to 5.9%. 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 - $52 million for Amplify Snack Brands - 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 77.679 million for Amplify Snack Brands 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 Amplify Snack Brands at the current share price and the inputted number of shares is $0.7 billion.


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COMPANY NEWS

▶ Amplify misses 4Q profit forecasts   [05:16PM  Associated Press]
▶ 5 Earnings Short-Squeeze Trade Ideas   [Mar-07-17 01:39PM  TheStreet.com]
▶ Paqui® Launches a Wild New Ranch Chip   [Feb-20-17 12:30PM  PR Newswire]
▶ How an Orlando teacher shortage could hurt the local economy   [Feb-06-17 05:03PM  at bizjournals.com]
▶ Construction opportunities ahead to build Winter Garden school   [Dec-22-16 03:00PM  at bizjournals.com]
▶ Opus Bank (OPB): Are Hedge Funds Right About This Stock?   [Dec-10-16 08:16AM  at Insider Monkey]
▶ SkinnyPop Stock Meets Children of the Corn   [11:48AM  at Motley Fool]
▶ [$$] SkinnyPop Maker Amplify Snack Brands to Buy Tyrrells   [Aug-08-16 03:12PM  at The Wall Street Journal]
▶ [$$] Amplify Snack Brands to Buy Tyrrells   [07:47AM  at The Wall Street Journal]
▶ Investcorp announces the sale of Tyrrells   [06:23AM  PR Newswire]
Stock chart of BETR Financial statements of BETR
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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