Intrinsic value of Baozun ADR - BZUN

Previous Close

$31.88

  Intrinsic Value

$22.82

stock screener

  Rating & Target

sell

-28%

Previous close

$31.88

 
Intrinsic value

$22.82

 
Up/down potential

-28%

 
Rating

sell

We calculate the intrinsic value of BZUN 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 1.7

 

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, %
  30.32
  27.70
  25.43
  23.39
  21.55
  19.89
  18.40
  17.06
  15.86
  14.77
  13.79
  12.92
  12.12
  11.41
  10.77
  10.19
  9.67
  9.21
  8.79
  8.41
  8.07
  7.76
  7.48
  7.24
  7.01
  6.81
  6.63
  6.47
  6.32
  6.19
  6.07
Revenue, $m
  490
  626
  785
  968
  1,177
  1,411
  1,671
  1,956
  2,266
  2,601
  2,960
  3,342
  3,747
  4,175
  4,625
  5,096
  5,589
  6,103
  6,640
  7,198
  7,778
  8,382
  9,009
  9,661
  10,339
  11,043
  11,775
  12,536
  13,329
  14,153
  15,012
Variable operating expenses, $m
 
  559
  702
  866
  1,052
  1,262
  1,494
  1,749
  2,026
  2,325
  2,646
  2,988
  3,350
  3,732
  4,134
  4,556
  4,996
  5,456
  5,936
  6,435
  6,954
  7,494
  8,054
  8,637
  9,243
  9,872
  10,527
  11,208
  11,916
  12,653
  13,421
Fixed operating expenses, $m
 
  41
  42
  43
  44
  45
  46
  48
  49
  50
  51
  52
  54
  55
  57
  58
  59
  61
  62
  64
  66
  67
  69
  71
  72
  74
  76
  78
  80
  82
  84
Total operating expenses, $m
  477
  600
  744
  909
  1,096
  1,307
  1,540
  1,797
  2,075
  2,375
  2,697
  3,040
  3,404
  3,787
  4,191
  4,614
  5,055
  5,517
  5,998
  6,499
  7,020
  7,561
  8,123
  8,708
  9,315
  9,946
  10,603
  11,286
  11,996
  12,735
  13,505
Operating income, $m
  13
  25
  41
  60
  81
  104
  131
  160
  191
  226
  263
  302
  343
  387
  434
  482
  533
  586
  641
  699
  759
  821
  886
  954
  1,024
  1,096
  1,172
  1,251
  1,333
  1,418
  1,507
EBITDA, $m
  18
  29
  46
  66
  88
  113
  141
  172
  206
  242
  281
  323
  367
  414
  463
  515
  569
  625
  684
  745
  809
  875
  944
  1,015
  1,090
  1,167
  1,247
  1,331
  1,418
  1,509
  1,603
Interest expense (income), $m
  0
  0
  1
  2
  3
  5
  7
  8
  10
  13
  15
  17
  20
  23
  26
  29
  33
  36
  40
  43
  47
  52
  56
  60
  65
  70
  75
  80
  85
  91
  97
Earnings before tax, $m
  15
  25
  40
  57
  77
  99
  124
  151
  181
  213
  248
  284
  323
  364
  408
  453
  500
  550
  602
  656
  712
  770
  830
  893
  959
  1,027
  1,097
  1,171
  1,248
  1,328
  1,411
Tax expense, $m
  3
  7
  11
  16
  21
  27
  34
  41
  49
  58
  67
  77
  87
  98
  110
  122
  135
  149
  162
  177
  192
  208
  224
  241
  259
  277
  296
  316
  337
  358
  381
Net income, $m
  13
  18
  29
  42
  56
  73
  91
  111
  132
  156
  181
  208
  236
  266
  298
  331
  365
  402
  439
  479
  519
  562
  606
  652
  700
  750
  801
  855
  911
  969
  1,030

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  138
  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
  343
  262
  328
  405
  493
  590
  699
  818
  948
  1,088
  1,238
  1,398
  1,568
  1,747
  1,935
  2,132
  2,338
  2,554
  2,778
  3,012
  3,255
  3,507
  3,770
  4,042
  4,326
  4,620
  4,927
  5,245
  5,577
  5,922
  6,281
Adjusted assets (=assets-cash), $m
  205
  262
  328
  405
  493
  590
  699
  818
  948
  1,088
  1,238
  1,398
  1,568
  1,747
  1,935
  2,132
  2,338
  2,554
  2,778
  3,012
  3,255
  3,507
  3,770
  4,042
  4,326
  4,620
  4,927
  5,245
  5,577
  5,922
  6,281
Revenue / Adjusted assets
  2.390
  2.389
  2.393
  2.390
  2.387
  2.392
  2.391
  2.391
  2.390
  2.391
  2.391
  2.391
  2.390
  2.390
  2.390
  2.390
  2.391
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
  2.390
Average production assets, $m
  16
  20
  25
  31
  38
  45
  53
  63
  73
  83
  95
  107
  120
  134
  148
  163
  179
  195
  212
  230
  249
  268
  288
  309
  331
  353
  377
  401
  427
  453
  480
Working capital, $m
  199
  99
  125
  154
  187
  224
  266
  311
  360
  414
  471
  531
  596
  664
  735
  810
  889
  970
  1,056
  1,144
  1,237
  1,333
  1,432
  1,536
  1,644
  1,756
  1,872
  1,993
  2,119
  2,250
  2,387
Total debt, $m
  17
  27
  60
  97
  139
  186
  239
  296
  359
  427
  499
  576
  658
  745
  836
  931
  1,030
  1,134
  1,243
  1,356
  1,473
  1,595
  1,722
  1,853
  1,990
  2,133
  2,281
  2,434
  2,595
  2,761
  2,935
Total liabilities, $m
  115
  126
  159
  196
  238
  285
  338
  395
  458
  526
  598
  675
  757
  844
  935
  1,030
  1,129
  1,233
  1,342
  1,455
  1,572
  1,694
  1,821
  1,952
  2,089
  2,232
  2,380
  2,533
  2,694
  2,860
  3,034
Total equity, $m
  227
  135
  170
  209
  255
  305
  361
  423
  490
  563
  640
  723
  811
  903
  1,000
  1,102
  1,209
  1,320
  1,436
  1,557
  1,683
  1,813
  1,949
  2,090
  2,236
  2,389
  2,547
  2,712
  2,883
  3,062
  3,247
Total liabilities and equity, $m
  342
  261
  329
  405
  493
  590
  699
  818
  948
  1,089
  1,238
  1,398
  1,568
  1,747
  1,935
  2,132
  2,338
  2,553
  2,778
  3,012
  3,255
  3,507
  3,770
  4,042
  4,325
  4,621
  4,927
  5,245
  5,577
  5,922
  6,281
Debt-to-equity ratio
  0.075
  0.200
  0.350
  0.460
  0.550
  0.610
  0.660
  0.700
  0.730
  0.760
  0.780
  0.800
  0.810
  0.820
  0.840
  0.840
  0.850
  0.860
  0.870
  0.870
  0.880
  0.880
  0.880
  0.890
  0.890
  0.890
  0.900
  0.900
  0.900
  0.900
  0.900
Adjusted equity ratio
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  13
  18
  29
  42
  56
  73
  91
  111
  132
  156
  181
  208
  236
  266
  298
  331
  365
  402
  439
  479
  519
  562
  606
  652
  700
  750
  801
  855
  911
  969
  1,030
Depreciation, amort., depletion, $m
  5
  4
  5
  6
  8
  9
  11
  13
  15
  17
  19
  21
  24
  27
  30
  33
  36
  39
  42
  46
  50
  54
  58
  62
  66
  71
  75
  80
  85
  91
  96
Funds from operations, $m
  -25
  22
  34
  48
  64
  82
  101
  123
  147
  172
  200
  229
  260
  293
  327
  363
  401
  441
  482
  525
  569
  616
  664
  714
  766
  820
  877
  935
  996
  1,060
  1,126
Change in working capital, $m
  -27
  22
  25
  29
  33
  37
  41
  45
  49
  53
  57
  61
  64
  68
  71
  75
  78
  82
  85
  89
  92
  96
  100
  104
  108
  112
  116
  121
  126
  131
  137
Cash from operations, $m
  2
  1
  9
  19
  31
  44
  60
  78
  97
  119
  143
  168
  196
  225
  256
  288
  323
  359
  396
  436
  477
  520
  564
  610
  658
  708
  760
  814
  870
  929
  989
Maintenance CAPEX, $m
  0
  -3
  -4
  -5
  -6
  -8
  -9
  -11
  -13
  -15
  -17
  -19
  -21
  -24
  -27
  -30
  -33
  -36
  -39
  -42
  -46
  -50
  -54
  -58
  -62
  -66
  -71
  -75
  -80
  -85
  -91
New CAPEX, $m
  -13
  -5
  -5
  -6
  -7
  -7
  -8
  -9
  -10
  -11
  -11
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -23
  -24
  -25
  -26
  -27
Cash from investing activities, $m
  -17
  -8
  -9
  -11
  -13
  -15
  -17
  -20
  -23
  -26
  -28
  -31
  -34
  -38
  -41
  -45
  -49
  -52
  -56
  -60
  -65
  -69
  -74
  -79
  -84
  -89
  -94
  -99
  -105
  -111
  -118
Free cash flow, $m
  -15
  -7
  0
  8
  18
  29
  43
  58
  75
  94
  115
  137
  161
  187
  215
  244
  274
  307
  340
  375
  412
  451
  490
  532
  575
  620
  666
  714
  765
  817
  871
Issuance/(repayment) of debt, $m
  0
  27
  32
  37
  42
  47
  52
  58
  63
  68
  73
  77
  82
  86
  91
  95
  100
  104
  108
  113
  117
  122
  127
  132
  137
  142
  148
  154
  160
  167
  174
Issuance/(repurchase) of shares, $m
  31
  11
  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
Cash from financing (excl. dividends), $m  
  30
  38
  37
  37
  42
  47
  52
  58
  63
  68
  73
  77
  82
  86
  91
  95
  100
  104
  108
  113
  117
  122
  127
  132
  137
  142
  148
  154
  160
  167
  174
Total cash flow (excl. dividends), $m
  19
  32
  37
  45
  60
  77
  95
  116
  138
  161
  187
  214
  243
  273
  305
  339
  374
  411
  449
  488
  530
  572
  617
  663
  712
  762
  814
  868
  925
  984
  1,045
Retained Cash Flow (-), $m
  -48
  -29
  -34
  -40
  -45
  -51
  -56
  -62
  -67
  -72
  -78
  -83
  -88
  -92
  -97
  -102
  -107
  -111
  -116
  -121
  -126
  -131
  -136
  -141
  -147
  -152
  -158
  -165
  -171
  -178
  -186
Prev. year cash balance distribution, $m
 
  121
  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
 
  123
  3
  5
  15
  26
  39
  54
  71
  89
  109
  132
  155
  181
  208
  237
  267
  299
  333
  368
  404
  442
  481
  522
  565
  610
  656
  704
  753
  805
  859
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
 
  118
  3
  5
  12
  20
  28
  36
  44
  51
  57
  62
  66
  69
  70
  70
  68
  65
  61
  57
  51
  46
  40
  34
  29
  24
  19
  15
  12
  9
  6
Current shareholders' claim on cash, %
  100
  98.7
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2

Baozun Inc. is a brand e-commerce solutions company. The Company is engaged in providing end-to-end e-commerce solutions, including the sales of apparel, home and electronic products, online store design and setup, visual merchandising and marketing, online store operations, customer services, warehousing and order fulfillment. Its segments include the brand e-commerce segment, which provides brand-e-commerce solutions to its brand partners, including IT services, store operations, digital marketing, customer services, warehousing and fulfillment, and the Maikefeng segment that operates its retail online platform, Maikefeng. Its subsidiaries include Baozun Hong Kong Holding Limited and Baozun Hongkong Investment Limited.

FINANCIAL RATIOS  of  Baozun ADR (BZUN)

Valuation Ratios
P/E Ratio 390.9
Price to Sales 10.4
Price to Book 22.4
Price to Tangible Book
Price to Cash Flow 2541
Price to Free Cash Flow -462
Growth Rates
Sales Growth Rate 30.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 62.5%
Cap. Spend. - 3 Yr. Gr. Rate 34.1%
Financial Strength
Quick Ratio 8
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 7.5%
Interest Coverage 0
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. -1%
Return On Total Capital 6.1%
Ret/ On T. Cap. - 3 Yr. Avg. -2.4%
Return On Equity 6.4%
Return On Equity - 3 Yr. Avg. -2.4%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 43.3%
Gross Margin - 3 Yr. Avg. 36%
EBITDA Margin 4.1%
EBITDA Margin - 3 Yr. Avg. 1.1%
Operating Margin 2.7%
Oper. Margin - 3 Yr. Avg. -0.2%
Pre-Tax Margin 3.1%
Pre-Tax Margin - 3 Yr. Avg. 0.2%
Net Profit Margin 2.7%
Net Profit Margin - 3 Yr. Avg. -0.2%
Effective Tax Rate 20%
Eff/ Tax Rate - 3 Yr. Avg. -5.8%
Payout Ratio 0%

BZUN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BZUN stock intrinsic value calculation we used $490 million for the last fiscal year's total revenue generated by Baozun ADR. The default revenue input number comes from 2016 income statement of Baozun ADR. 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 BZUN stock valuation model: a) initial revenue growth rate of 27.7% 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 BZUN is calculated based on our internal credit rating of Baozun ADR, 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 Baozun ADR.
    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 BZUN stock the variable cost ratio is equal to 89.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $40 million in the base year in the intrinsic value calculation for BZUN 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 Baozun ADR.

Corporate tax rate of 27% is the nominal tax rate for Baozun ADR. 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 BZUN 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 BZUN are equal to 3.2%.

Life of production assets of 3.1 years is the average useful life of capital assets used in Baozun ADR 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 BZUN is equal to 15.9%. 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 - $227 million for Baozun ADR - 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 54.325 million for Baozun ADR 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 Baozun ADR at the current share price and the inputted number of shares is $1.7 billion.

RELATED COMPANIES Price Int.Val. Rating
JD JD.com ADR 40.80 309.69  str.buy
VIPS Vipshop Holdin 8.42 59.48  str.buy
WB Weibo ADR 103.53 459.60  str.buy
BABA Alibaba Group 176.47 900.74  str.buy
MSFT Microsoft 85.35 60.77  sell
MLNK ModusLink Glob 1.64 0.28  str.sell
NTES Netease ADR 357.80 2,505.59  str.buy
OSTK Overstock.com 60.90 9.81  str.sell
OLLI Ollie's Ba 48.63 67.41  buy

COMPANY NEWS

▶ ETFs with exposure to Baozun, Inc. : December 14, 2017   [Dec-14-17 01:00PM  Capital Cube]
▶ 5 Reasons Baozun is a Better Growth Stock than Shopify   [Dec-07-17 10:36AM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : December 4, 2017   [Dec-04-17 10:55AM  Capital Cube]
▶ 3 Stocks That Feel Like Microsoft in 1986   [Nov-30-17 06:04AM  Motley Fool]
▶ Is Baozun's Post-Earnings Plunge a Buying Opportunity?   [Nov-25-17 12:00PM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : November 24, 2017   [Nov-24-17 10:28AM  Capital Cube]
▶ Why Is Baozun Inc (ADR) Trading Lower Wednesday?   [Nov-22-17 02:57PM  Motley Fool]
▶ Have Investors Already Priced In Baozun Incs (BZUN) Growth?   [Nov-10-17 01:35PM  Simply Wall St.]
▶ Here's Why the Best Is Yet to Come for Baozun Inc.   [Nov-06-17 07:08PM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : November 3, 2017   [Nov-03-17 12:01PM  Capital Cube]
▶ ETFs with exposure to Baozun, Inc. : October 24, 2017   [Oct-24-17 09:35AM  Capital Cube]
▶ 6 Things You Need to Know About Alibaba Group Holding Ltd   [Oct-23-17 06:13AM  InvestorPlace]
▶ ETFs with exposure to Baozun, Inc. : October 13, 2017   [Oct-13-17 10:35AM  Capital Cube]
▶ Why Baozun Inc. Stock Gained 20.5% in September   [Oct-09-17 11:23AM  Motley Fool]
▶ 3 Growth Stocks I'd Buy Right Now   [07:43AM  Motley Fool]
▶ Baidu Inc (BIDU) Stock Has a Lot More Room to Run Higher   [Oct-04-17 06:36AM  InvestorPlace]
▶ ETFs with exposure to Baozun, Inc. : September 22, 2017   [Sep-22-17 10:17AM  Capital Cube]
▶ Should You Buy Baozun at its All-Time High?   [Sep-20-17 01:11PM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : September 12, 2017   [Sep-11-17 10:07PM  Capital Cube]
▶ 3 Chinese Tech Stocks That Have Killer Advantages   [Sep-06-17 06:13PM  Motley Fool]
▶ Why I'm Buying Baozun But Avoiding Momo   [04:38PM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : September 1, 2017   [Sep-01-17 07:04PM  Capital Cube]
▶ ETFs with exposure to Baozun, Inc. : August 3, 2017   [Aug-03-17 07:52PM  Capital Cube]
▶ 3 Stocks With MercadoLibre-Like Return Potential   [Jul-24-17 09:43PM  Motley Fool]
▶ [$$] 3 Chinese Stocks With Strong Earnings Growth   [Jul-17-17 08:49PM  Barrons.com]
▶ ETFs with exposure to Baozun, Inc. : July 13, 2017   [Jul-13-17 03:42PM  Capital Cube]
▶ Baozun Announces Appointment of New Director   [Jul-11-17 06:30AM  GlobeNewswire]
▶ ETFs with exposure to Baozun, Inc. : July 3, 2017   [Jul-03-17 02:59PM  Capital Cube]
▶ ETFs with exposure to Baozun, Inc. : June 16, 2017   [Jun-16-17 03:30PM  Capital Cube]
▶ Alibaba Soars On This Stunning Growth Forecast   [Jun-08-17 04:31PM  Investor's Business Daily]
▶ ETFs with exposure to Baozun, Inc. : June 5, 2017   [Jun-05-17 02:05PM  Capital Cube]
▶ Best Chinese Stocks To Buy And Watch   [Jun-02-17 01:27PM  Investor's Business Daily]
▶ ETFs with exposure to Baozun, Inc. : May 26, 2017   [May-26-17 01:00PM  Capital Cube]
▶ 3 Chinese Stocks That Rallied Over 30% in May   [May-23-17 05:26PM  Motley Fool]
▶ Alibaba-Backed Chinese Internet Stock Enters Buy Zone In Big Volume   [May-09-17 11:10AM  Investor's Business Daily]
▶ Baozun, Inc.: Strong price momentum but will it sustain?   [May-08-17 02:36PM  Capital Cube]
▶ ETFs with exposure to Baozun, Inc. : May 4, 2017   [May-04-17 03:45PM  Capital Cube]
▶ ETFs with exposure to Baozun, Inc. : April 19, 2017   [Apr-19-17 02:13PM  Capital Cube]
▶ Baozun Releases 2016 Chairman Letter   [06:36AM  GlobeNewswire]
▶ ETFs with exposure to Baozun, Inc. : April 5, 2017   [Apr-05-17 04:27PM  Capital Cube]
▶ 3 Tech Stocks Projected to Grow Profits the Most in 2017   [Jan-14-17 10:48AM  Motley Fool]
▶ ETFs with exposure to Baozun, Inc. : January 11, 2017   [Jan-11-17 12:37PM  Capital Cube]
▶ Baozun Inc (ADR) (BZUN): Does It Stack Up To Its Peers?   [Dec-13-16 04:16AM  Insider Monkey]
▶ ETFs with exposure to Baozun, Inc. : December 12, 2016   [Dec-12-16 12:00PM  Capital Cube]
Financial statements of BZUN
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.