Intrinsic value of Bemis - BMS

Previous Close

$42.35

  Intrinsic Value

$33.87

stock screener

  Rating & Target

sell

-20%

  Value-price divergence*

+53%

Previous close

$42.35

 
Intrinsic value

$33.87

 
Up/down potential

-20%

 
Rating

sell

 
Value-price divergence*

+53%

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

We calculate the intrinsic value of BMS 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 3.9

 

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, %
  -1.65
  2.80
  3.02
  3.22
  3.40
  3.56
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
Revenue, $m
  4,004
  4,116
  4,240
  4,377
  4,526
  4,686
  4,860
  5,046
  5,245
  5,458
  5,684
  5,925
  6,180
  6,451
  6,737
  7,040
  7,360
  7,698
  8,055
  8,431
  8,828
  9,245
  9,686
  10,149
  10,636
  11,150
  11,689
  12,257
  12,855
  13,482
  14,143
Variable operating expenses, $m
 
  3,702
  3,810
  3,930
  4,060
  4,200
  4,352
  4,515
  4,689
  4,875
  5,073
  5,180
  5,403
  5,640
  5,890
  6,155
  6,435
  6,731
  7,043
  7,371
  7,718
  8,083
  8,468
  8,873
  9,299
  9,748
  10,220
  10,717
  11,239
  11,788
  12,365
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
  3,595
  3,702
  3,810
  3,930
  4,060
  4,200
  4,352
  4,515
  4,689
  4,875
  5,073
  5,180
  5,403
  5,640
  5,890
  6,155
  6,435
  6,731
  7,043
  7,371
  7,718
  8,083
  8,468
  8,873
  9,299
  9,748
  10,220
  10,717
  11,239
  11,788
  12,365
Operating income, $m
  409
  414
  430
  447
  466
  486
  508
  531
  556
  583
  612
  745
  777
  811
  847
  885
  925
  968
  1,013
  1,060
  1,110
  1,162
  1,217
  1,276
  1,337
  1,401
  1,469
  1,541
  1,616
  1,695
  1,778
EBITDA, $m
  571
  615
  634
  654
  676
  700
  726
  754
  784
  816
  849
  885
  924
  964
  1,007
  1,052
  1,100
  1,150
  1,204
  1,260
  1,319
  1,382
  1,447
  1,517
  1,590
  1,666
  1,747
  1,832
  1,921
  2,015
  2,113
Interest expense (income), $m
  57
  60
  62
  65
  69
  72
  76
  80
  84
  89
  94
  100
  105
  111
  118
  125
  132
  139
  148
  156
  165
  174
  184
  195
  206
  217
  230
  242
  256
  270
  285
Earnings before tax, $m
  351
  355
  368
  382
  397
  414
  432
  451
  472
  494
  517
  645
  672
  699
  729
  760
  793
  828
  865
  904
  945
  988
  1,033
  1,081
  1,131
  1,184
  1,240
  1,298
  1,360
  1,425
  1,493
Tax expense, $m
  115
  96
  99
  103
  107
  112
  117
  122
  127
  133
  140
  174
  181
  189
  197
  205
  214
  224
  234
  244
  255
  267
  279
  292
  305
  320
  335
  351
  367
  385
  403
Net income, $m
  236
  259
  268
  279
  290
  302
  315
  329
  345
  361
  378
  471
  490
  511
  532
  555
  579
  605
  631
  660
  690
  721
  754
  789
  826
  864
  905
  948
  993
  1,040
  1,090

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  74
  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
  3,716
  3,745
  3,858
  3,983
  4,118
  4,264
  4,422
  4,592
  4,773
  4,966
  5,172
  5,391
  5,623
  5,870
  6,130
  6,406
  6,697
  7,005
  7,329
  7,672
  8,033
  8,413
  8,813
  9,235
  9,678
  10,145
  10,636
  11,153
  11,697
  12,268
  12,869
Adjusted assets (=assets-cash), $m
  3,642
  3,745
  3,858
  3,983
  4,118
  4,264
  4,422
  4,592
  4,773
  4,966
  5,172
  5,391
  5,623
  5,870
  6,130
  6,406
  6,697
  7,005
  7,329
  7,672
  8,033
  8,413
  8,813
  9,235
  9,678
  10,145
  10,636
  11,153
  11,697
  12,268
  12,869
Revenue / Adjusted assets
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
  1.099
Average production assets, $m
  1,398
  1,437
  1,480
  1,528
  1,579
  1,636
  1,696
  1,761
  1,831
  1,905
  1,984
  2,068
  2,157
  2,251
  2,351
  2,457
  2,569
  2,687
  2,811
  2,942
  3,081
  3,227
  3,380
  3,542
  3,712
  3,891
  4,080
  4,278
  4,486
  4,705
  4,936
Working capital, $m
  590
  547
  564
  582
  602
  623
  646
  671
  698
  726
  756
  788
  822
  858
  896
  936
  979
  1,024
  1,071
  1,121
  1,174
  1,230
  1,288
  1,350
  1,415
  1,483
  1,555
  1,630
  1,710
  1,793
  1,881
Total debt, $m
  1,545
  1,598
  1,674
  1,757
  1,848
  1,946
  2,052
  2,165
  2,287
  2,416
  2,554
  2,701
  2,857
  3,022
  3,196
  3,381
  3,576
  3,782
  4,000
  4,229
  4,471
  4,725
  4,994
  5,276
  5,573
  5,886
  6,215
  6,562
  6,926
  7,309
  7,711
Total liabilities, $m
  2,456
  2,509
  2,585
  2,668
  2,759
  2,857
  2,963
  3,076
  3,198
  3,327
  3,465
  3,612
  3,768
  3,933
  4,107
  4,292
  4,487
  4,693
  4,911
  5,140
  5,382
  5,636
  5,905
  6,187
  6,484
  6,797
  7,126
  7,473
  7,837
  8,220
  8,622
Total equity, $m
  1,260
  1,236
  1,273
  1,314
  1,359
  1,407
  1,459
  1,515
  1,575
  1,639
  1,707
  1,779
  1,856
  1,937
  2,023
  2,114
  2,210
  2,312
  2,419
  2,532
  2,651
  2,776
  2,908
  3,047
  3,194
  3,348
  3,510
  3,681
  3,860
  4,048
  4,247
Total liabilities and equity, $m
  3,716
  3,745
  3,858
  3,982
  4,118
  4,264
  4,422
  4,591
  4,773
  4,966
  5,172
  5,391
  5,624
  5,870
  6,130
  6,406
  6,697
  7,005
  7,330
  7,672
  8,033
  8,412
  8,813
  9,234
  9,678
  10,145
  10,636
  11,154
  11,697
  12,268
  12,869
Debt-to-equity ratio
  1.226
  1.290
  1.310
  1.340
  1.360
  1.380
  1.410
  1.430
  1.450
  1.470
  1.500
  1.520
  1.540
  1.560
  1.580
  1.600
  1.620
  1.640
  1.650
  1.670
  1.690
  1.700
  1.720
  1.730
  1.750
  1.760
  1.770
  1.780
  1.790
  1.810
  1.820
Adjusted equity ratio
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330
  0.330

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  236
  259
  268
  279
  290
  302
  315
  329
  345
  361
  378
  471
  490
  511
  532
  555
  579
  605
  631
  660
  690
  721
  754
  789
  826
  864
  905
  948
  993
  1,040
  1,090
Depreciation, amort., depletion, $m
  162
  201
  204
  207
  210
  214
  218
  223
  227
  232
  238
  141
  147
  153
  160
  167
  175
  183
  191
  200
  210
  220
  230
  241
  253
  265
  278
  291
  305
  320
  336
Funds from operations, $m
  439
  460
  472
  486
  500
  516
  534
  552
  572
  593
  616
  612
  637
  664
  692
  722
  754
  787
  823
  860
  899
  941
  984
  1,030
  1,078
  1,129
  1,183
  1,239
  1,298
  1,360
  1,425
Change in working capital, $m
  2
  15
  17
  18
  20
  21
  23
  25
  26
  28
  30
  32
  34
  36
  38
  40
  43
  45
  47
  50
  53
  56
  59
  62
  65
  68
  72
  76
  79
  84
  88
Cash from operations, $m
  437
  445
  456
  468
  481
  495
  511
  527
  545
  565
  585
  580
  603
  628
  654
  682
  711
  742
  775
  810
  846
  885
  926
  968
  1,013
  1,061
  1,111
  1,163
  1,218
  1,277
  1,338
Maintenance CAPEX, $m
  0
  -95
  -98
  -101
  -104
  -107
  -111
  -115
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -160
  -167
  -175
  -183
  -191
  -200
  -210
  -220
  -230
  -241
  -253
  -265
  -278
  -291
  -305
  -320
New CAPEX, $m
  -208
  -39
  -43
  -48
  -52
  -56
  -61
  -65
  -70
  -74
  -79
  -84
  -89
  -94
  -100
  -106
  -112
  -118
  -124
  -131
  -138
  -146
  -154
  -162
  -170
  -179
  -188
  -198
  -208
  -219
  -230
Cash from investing activities, $m
  -311
  -134
  -141
  -149
  -156
  -163
  -172
  -180
  -190
  -199
  -209
  -219
  -230
  -241
  -253
  -266
  -279
  -293
  -307
  -322
  -338
  -356
  -374
  -392
  -411
  -432
  -453
  -476
  -499
  -524
  -550
Free cash flow, $m
  126
  311
  314
  319
  325
  331
  339
  347
  356
  366
  377
  361
  373
  387
  401
  416
  432
  450
  468
  487
  508
  530
  553
  577
  602
  629
  658
  688
  719
  752
  787
Issuance/(repayment) of debt, $m
  157
  70
  76
  83
  91
  98
  106
  114
  121
  130
  138
  147
  156
  165
  175
  185
  195
  206
  217
  229
  242
  255
  268
  282
  297
  313
  329
  346
  364
  383
  402
Issuance/(repurchase) of shares, $m
  -144
  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
  70
  76
  83
  91
  98
  106
  114
  121
  130
  138
  147
  156
  165
  175
  185
  195
  206
  217
  229
  242
  255
  268
  282
  297
  313
  329
  346
  364
  383
  402
Total cash flow (excl. dividends), $m
  129
  382
  390
  402
  416
  430
  445
  461
  478
  496
  515
  507
  529
  552
  576
  601
  628
  656
  685
  717
  750
  784
  821
  859
  900
  942
  987
  1,034
  1,083
  1,135
  1,190
Retained Cash Flow (-), $m
  -53
  -33
  -37
  -41
  -45
  -48
  -52
  -56
  -60
  -64
  -68
  -72
  -77
  -81
  -86
  -91
  -96
  -101
  -107
  -113
  -119
  -125
  -132
  -139
  -146
  -154
  -162
  -171
  -179
  -189
  -198
Prev. year cash balance distribution, $m
 
  57
  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
 
  406
  353
  361
  371
  381
  393
  405
  418
  432
  447
  435
  452
  470
  490
  510
  531
  554
  578
  604
  631
  659
  689
  720
  753
  788
  825
  863
  904
  946
  991
Discount rate, %
 
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
 
  378
  304
  286
  267
  248
  228
  209
  189
  170
  151
  124
  108
  93
  79
  66
  54
  43
  34
  27
  20
  15
  11
  8
  6
  4
  2
  2
  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

Bemis Company, Inc. manufactures and sells packaging products. It operates through two segments, U.S. Packaging and Global Packaging. The company offers multilayer polymer, blown, and cast film structures; and injection molded plastic and folding carton packaging products. Its products are used to produce packaging for food, medical, pharmaceutical, personal care, electronics, and industrial applications. It sells its products through its direct sales force in North America, Latin America, Europe, and the Asia-Pacific. The company was formerly known as Bemis Bro. Bag Company and changed its name to Bemis Company, Inc. in 1965. Bemis Company, Inc. was founded in 1858 and is based in Neenah, Wisconsin.

FINANCIAL RATIOS  of  Bemis (BMS)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 1
Price to Book 3.1
Price to Tangible Book
Price to Cash Flow 9
Price to Free Cash Flow 17.1
Growth Rates
Sales Growth Rate -1.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5%
Cap. Spend. - 3 Yr. Gr. Rate 8.2%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 121.3%
Total Debt to Equity 122.6%
Interest Coverage 7
Management Effectiveness
Return On Assets 7.6%
Ret/ On Assets - 3 Yr. Avg. 7.1%
Return On Total Capital 8.7%
Ret/ On T. Cap. - 3 Yr. Avg. 8%
Return On Equity 19.1%
Return On Equity - 3 Yr. Avg. 16.5%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 21.6%
Gross Margin - 3 Yr. Avg. 20.9%
EBITDA Margin 14.2%
EBITDA Margin - 3 Yr. Avg. 14.1%
Operating Margin 10.2%
Oper. Margin - 3 Yr. Avg. 9.9%
Pre-Tax Margin 8.8%
Pre-Tax Margin - 3 Yr. Avg. 8.7%
Net Profit Margin 5.9%
Net Profit Margin - 3 Yr. Avg. 5.4%
Effective Tax Rate 32.8%
Eff/ Tax Rate - 3 Yr. Avg. 33.5%
Payout Ratio 48.3%

BMS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BMS stock intrinsic value calculation we used $4004 million for the last fiscal year's total revenue generated by Bemis. The default revenue input number comes from 2016 income statement of Bemis. 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 BMS stock valuation model: a) initial revenue growth rate of 2.8% 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 7.4%, whose default value for BMS is calculated based on our internal credit rating of Bemis, 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 Bemis.
    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 BMS stock the variable cost ratio is equal to 90%.

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 BMS 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 3.9% for Bemis.

Corporate tax rate of 27% is the nominal tax rate for Bemis. 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 BMS 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 BMS are equal to 34.9%.

Life of production assets of 14.7 years is the average useful life of capital assets used in Bemis 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 BMS is equal to 13.3%. 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 - $1260 million for Bemis - 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 92.326 million for Bemis 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 Bemis at the current share price and the inputted number of shares is $3.9 billion.

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COMPANY NEWS

▶ ETFs with exposure to Bemis Co., Inc. : August 15, 2017   [Aug-15-17 03:34PM  Capital Cube]
▶ New Strong Sell Stocks for August 3rd   [Aug-03-17 08:13AM  Zacks]
▶ Bemis misses Street 2Q forecasts   [01:24AM  Associated Press]
▶ Story Stocks from Briefing.com   [Jul-27-17 02:46PM  Briefing.com]
▶ Bemis to cut 300 jobs, close 2 facilities   [Jun-30-17 07:10AM  MarketWatch]
▶ Bemis Co., Inc. Value Analysis (NYSE:BMS) : June 27, 2017   [Jun-27-17 04:19PM  Capital Cube]
▶ New Strong Sell Stocks for May 23rd   [May-23-17 10:05AM  Zacks]
▶ New Strong Sell Stocks for May 17th   [May-17-17 10:03AM  Zacks]
▶ ETFs with exposure to Bemis Co., Inc. : May 4, 2017   [May-04-17 03:44PM  Capital Cube]
▶ Bemis misses 1Q profit forecasts   [Apr-27-17 06:12AM  Associated Press]
▶ Warren, Democrats Write Icahn About Advising Trump   [Mar-27-17 07:00PM  TheStreet.com]
▶ Seven Dividend Stocks Rewarding Shareholders With A Raise   [Feb-13-17 12:39PM  at Insider Monkey]
▶ Do Hedge Funds Love AptarGroup, Inc. (ATR)?   [Dec-09-16 06:04AM  at Insider Monkey]
▶ Is Bemis Company, Inc. (BMS) Worthy of Your Portfolio?   [Dec-05-16 09:44AM  at Insider Monkey]
▶ Bemis Company Declares Regular Quarterly Dividend   [Nov-03-16 06:00AM  Business Wire]
Stock chart of BMS Financial statements of BMS
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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