Intrinsic value of Broadvision - BVSN

Previous Close

$4.25

  Intrinsic Value

$0.88

stock screener

  Rating & Target

str. sell

-79%

  Value-price divergence*

0%

Previous close

$4.25

 
Intrinsic value

$0.88

 
Up/down potential

-79%

 
Rating

str. sell

 
Value-price divergence*

0%

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

We calculate the intrinsic value of BVSN 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 0.0

 

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, %
  -11.11
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  8
  8
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
Variable operating expenses, $m
 
  8
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
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
  18
  18
  19
  20
  20
  20
  21
  22
  22
  22
  24
  24
  25
  26
  27
  27
  29
  29
  31
  32
  32
  34
  35
  37
  38
  40
  41
  42
  44
  45
  47
Operating income, $m
  -10
  -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
EBITDA, $m
  -10
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -17
  -18
  -18
  -18
  -19
  -19
  -20
  -20
  -21
Interest expense (income), $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
Earnings before tax, $m
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -17
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21
Tax expense, $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
Net income, $m
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -17
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  20
  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
  22
  5
  5
  5
  6
  6
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  16
Adjusted assets (=assets-cash), $m
  2
  5
  5
  5
  6
  6
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  16
Revenue / Adjusted assets
  4.000
  1.600
  1.600
  1.800
  1.500
  1.500
  1.500
  1.667
  1.667
  1.667
  1.571
  1.571
  1.714
  1.500
  1.625
  1.625
  1.556
  1.556
  1.667
  1.600
  1.600
  1.545
  1.636
  1.583
  1.667
  1.615
  1.571
  1.643
  1.600
  1.563
  1.625
Average production assets, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
Working capital, $m
  18
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
Total debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  4
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  10
Total liabilities, $m
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
Total equity, $m
  17
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
Total liabilities and equity, $m
  22
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  16
  17
Debt-to-equity ratio
  0.000
  -0.800
  -0.580
  -0.340
  -0.090
  0.180
  0.460
  0.740
  1.020
  1.310
  1.590
  1.870
  2.150
  2.420
  2.690
  2.950
  3.210
  3.450
  3.690
  3.920
  4.150
  4.360
  4.570
  4.770
  4.960
  5.140
  5.320
  5.490
  5.650
  5.800
  5.950
Adjusted equity ratio
  -1.500
  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
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -17
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21
Depreciation, amort., depletion, $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
Funds from operations, $m
  -11
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21
Change in working capital, $m
  -1
  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 operations, $m
  -10
  -10
  -10
  -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
Maintenance CAPEX, $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
New CAPEX, $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 investing activities, $m
  12
  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
Free cash flow, $m
  2
  -10
  -10
  -11
  -11
  -11
  -12
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21
Issuance/(repayment) of debt, $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
  1
  1
  1
  1
  1
  1
  1
Issuance/(repurchase) of shares, $m
  0
  11
  11
  11
  11
  11
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  17
  17
  17
  18
  18
  19
  19
  20
  20
  21
  21
Cash from financing (excl. dividends), $m  
  0
  11
  11
  11
  11
  11
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  17
  17
  17
  18
  19
  20
  20
  21
  21
  22
  22
Total cash flow (excl. dividends), $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Retained Cash Flow (-), $m
  9
  -11
  -11
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -17
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
  -21
Prev. year cash balance distribution, $m
 
  17
  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
 
  6
  -10
  -11
  -11
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -20
  -21
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
 
  6
  -10
  -9
  -9
  -9
  -8
  -8
  -7
  -7
  -7
  -6
  -6
  -5
  -5
  -4
  -4
  -3
  -3
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  -1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  2.8
  0.2
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

BroadVision, Inc. develops, markets, and supports enterprise portal applications. The company’s applications enable companies to unify their e-business infrastructure and conduct interactions and transactions with employees, partners, and customers through a personalized self-service model. Its solutions include business agility suite, a portal that provides personalized views of information and processes; commerce agility suite, an e-commerce system for transacting business on the Web; Clearvale, an enterprise social network solution, which enhances enterprise knowledge flows; Clear, a human resources management system that facilitates collaboration by members of customer’s organization; and QuickSilver, a publishing system for large and complex documents. The company also provides various frameworks that offer portal services for organizing and presenting information; commerce services for transacting business on the Web; process services for transforming people-intensive processes and collaborations into Web-based self-service applications; content services for managing Web content; staging services for moving content from multiple development environments to production environment; search for full-text and field searching of online content and referenced external files with relevance ranking; unified stream services for unification and integration of information; event driven services to deliver notifications via various messaging platforms; and migration services of data moving across platforms. In addition, it offers business consulting, implementation, integration and package, upgrade and migration, and performance tuning services; education services; and support and maintenance services, as well as Vmoso Enterprise Transformation, a proprietary implementation approach for the Vmoso collaborative solution; Vmoso developer kit; Kona framework; and Kukini developer toolkit. The company was founded in 1993 and is headquartered in Redwood City, California.

FINANCIAL RATIOS  of  Broadvision (BVSN)

Valuation Ratios
P/E Ratio -2.3
Price to Sales 2.6
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow -2.1
Price to Free Cash Flow -2.1
Growth Rates
Sales Growth Rate -11.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
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 -33.3%
Ret/ On Assets - 3 Yr. Avg. -27.4%
Return On Total Capital -41.9%
Ret/ On T. Cap. - 3 Yr. Avg. -33.4%
Return On Equity -41.9%
Return On Equity - 3 Yr. Avg. -33.4%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 62.5%
Gross Margin - 3 Yr. Avg. 64.5%
EBITDA Margin -112.5%
EBITDA Margin - 3 Yr. Avg. -99.7%
Operating Margin -125%
Oper. Margin - 3 Yr. Avg. -95.4%
Pre-Tax Margin -112.5%
Pre-Tax Margin - 3 Yr. Avg. -99.7%
Net Profit Margin -112.5%
Net Profit Margin - 3 Yr. Avg. -99.7%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

BVSN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BVSN stock intrinsic value calculation we used $8 million for the last fiscal year's total revenue generated by Broadvision. The default revenue input number comes from 2016 income statement of Broadvision. 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 BVSN stock valuation model: a) initial revenue growth rate of 2% 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 BVSN is calculated based on our internal credit rating of Broadvision, 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 Broadvision.
    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 BVSN stock the variable cost ratio is equal to 100%.

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 BVSN 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 Broadvision.

Corporate tax rate of 27% is the nominal tax rate for Broadvision. 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 BVSN 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 BVSN are equal to 6.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Broadvision 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 BVSN is equal to -10%. 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 - $17 million for Broadvision - 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 4.831 million for Broadvision 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 Broadvision at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ BroadVision Announces Second Quarter 2017 Results   [Aug-14-17 07:00PM  GlobeNewswire]
▶ ETFs with exposure to BroadVision, Inc. : July 4, 2017   [Jul-04-17 02:41PM  Capital Cube]
▶ ETFs with exposure to BroadVision, Inc. : June 20, 2017   [Jun-20-17 02:46PM  Capital Cube]
▶ ETFs with exposure to BroadVision, Inc. : May 22, 2017   [May-22-17 01:26PM  Capital Cube]
▶ BroadVision Sets Date To Announce First Quarter Results   [Apr-26-17 11:41AM  GlobeNewswire]
▶ ETFs with exposure to BroadVision, Inc. : April 24, 2017   [Apr-24-17 02:18PM  Capital Cube]
▶ ETFs with exposure to BroadVision, Inc. : April 5, 2017   [Apr-05-17 04:26PM  Capital Cube]
▶ BroadVision Sets Date To Announce Fourth Quarter Results   [Jan-25-17 01:13PM  GlobeNewswire]
▶ BroadVision Sets Date To Announce Third Quarter Results   [Oct-26-16 02:41PM  GlobeNewswire]
▶ BroadVision Announces Vmoso Keystone Release   [Sep-29-16 09:30AM  GlobeNewswire]
▶ BroadVision Sets Date to Announce Second Quarter Results   [Jul-27-16 05:00PM  GlobeNewswire]
▶ ETFs with exposure to BroadVision, Inc. : July 22, 2016   [Jul-22-16 02:58PM  Capital Cube]
▶ BroadVision Sets Date to Announce 1st Quarter Results   [Apr-21-16 05:00PM  GlobeNewswire]
▶ BroadVision Regains Nasdaq Listing Compliance   [Apr-15-16 05:45PM  GlobeNewswire]
▶ BroadVision Receives Letter from NASDAQ   [05:20PM  GlobeNewswire]
▶ Experton Group Names BroadVision a Social Business Leader   [Feb-09-16 04:00AM  GlobeNewswire]
▶ BroadVision, Inc. Earnings Analysis: 2015 By the Numbers   [Feb-05-16 12:34PM  Capital Cube]
▶ BroadVision Announces Fourth Quarter 2015 Results   [Feb-03-16 04:30PM  GlobeNewswire]
▶ BroadVision Sets Date to Announce Fourth Quarter Results   [Jan-20-16 08:00AM  GlobeNewswire]
▶ BroadVision Launches Their Vmoso Developer Network   [Jan-19-16 11:00AM  GlobeNewswire]
▶ BroadVision Launches Vmoso in China   [Jan-06-16 11:00AM  GlobeNewswire]
▶ BroadVision Sets Date to Announce Third Quarter Results   [Oct-14  04:06PM  GlobeNewswire]
▶ 10-Q for BroadVision, Inc.   [Aug-16  08:12PM  at Company Spotlight]
▶ NTT Adopts Vmoso for Communication Efficiency   [Jul-07  11:00AM  GlobeNewswire]
▶ 10-Q for BroadVision, Inc.   [May-10  08:11PM  at Company Spotlight]
▶ 10-K for BroadVision, Inc.   [May-05  08:12PM  at Company Spotlight]
▶ BroadVision Sets Date to Announce First Quarter Results   [Apr-15  11:00AM  GlobeNewswire]
▶ When tech CEOs were titans: Nasdaq's last run at 5000   [Mar-02  05:34PM  at USA TODAY]
▶ Nasdaq marching back toward 5000   [Feb-22  05:14PM  at USA TODAY]
▶ BroadVision Announces Wide Availability of Vmoso   [Feb-06  07:28PM  at noodls]
▶ BroadVision Announces Fourth Quarter 2014 Results   [Feb-05  04:48PM  GlobeNewswire]
▶ BroadVision Sets Date to Announce Fourth Quarter Results   [Jan-22  11:00AM  GlobeNewswire]
▶ 10-Q for BroadVision, Inc.   [Nov-08  07:07PM  Company Spotlight]
▶ BROADVISION INC Files SEC form 10-Q, Quarterly Report   [Nov-06  01:49PM  EDGAR Online]
Stock chart of BVSN Financial statements of BVSN
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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