Intrinsic value of Cheesecake Factory - CAKE

Previous Close

$42.88

  Intrinsic Value

$73.60

stock screener

  Rating & Target

str. buy

+72%

  Value-price divergence*

+108%

Previous close

$42.88

 
Intrinsic value

$73.60

 
Up/down potential

+72%

 
Rating

str. buy

 
Value-price divergence*

+108%

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

We calculate the intrinsic value of CAKE 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 2017), $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 2.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.33
  8.30
  7.97
  7.67
  7.41
  7.17
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
Revenue, $m
  2,276
  2,465
  2,661
  2,866
  3,078
  3,298
  3,527
  3,766
  4,013
  4,271
  4,539
  4,819
  5,109
  5,412
  5,728
  6,058
  6,402
  6,761
  7,137
  7,529
  7,939
  8,368
  8,816
  9,286
  9,777
  10,292
  10,831
  11,395
  11,987
  12,607
  13,257
Variable operating expenses, $m
 
  1,972
  2,129
  2,292
  2,462
  2,639
  2,822
  3,013
  3,211
  3,417
  3,631
  3,855
  4,087
  4,330
  4,583
  4,846
  5,122
  5,409
  5,709
  6,023
  6,351
  6,694
  7,053
  7,429
  7,822
  8,233
  8,665
  9,116
  9,590
  10,086
  10,606
Fixed operating expenses, $m
 
  267
  273
  280
  287
  294
  302
  309
  317
  325
  333
  341
  350
  358
  367
  377
  386
  396
  406
  416
  426
  437
  448
  459
  470
  482
  494
  506
  519
  532
  545
Total operating expenses, $m
  2,075
  2,239
  2,402
  2,572
  2,749
  2,933
  3,124
  3,322
  3,528
  3,742
  3,964
  4,196
  4,437
  4,688
  4,950
  5,223
  5,508
  5,805
  6,115
  6,439
  6,777
  7,131
  7,501
  7,888
  8,292
  8,715
  9,159
  9,622
  10,109
  10,618
  11,151
Operating income, $m
  201
  226
  259
  293
  329
  365
  404
  444
  486
  530
  575
  623
  672
  724
  778
  835
  894
  957
  1,022
  1,090
  1,162
  1,237
  1,316
  1,398
  1,485
  1,576
  1,672
  1,773
  1,878
  1,989
  2,106
EBITDA, $m
  289
  322
  362
  404
  448
  493
  540
  590
  641
  695
  751
  809
  870
  933
  1,000
  1,069
  1,142
  1,218
  1,298
  1,381
  1,469
  1,560
  1,657
  1,757
  1,863
  1,974
  2,091
  2,213
  2,342
  2,477
  2,619
Interest expense (income), $m
  6
  0
  2
  4
  6
  9
  11
  13
  16
  18
  21
  24
  27
  30
  33
  37
  40
  44
  48
  52
  56
  60
  65
  69
  74
  80
  85
  91
  97
  103
  110
Earnings before tax, $m
  192
  226
  257
  289
  322
  357
  393
  431
  470
  511
  554
  599
  645
  694
  745
  798
  854
  913
  974
  1,039
  1,106
  1,177
  1,251
  1,329
  1,411
  1,497
  1,587
  1,682
  1,782
  1,886
  1,996
Tax expense, $m
  53
  61
  69
  78
  87
  96
  106
  116
  127
  138
  150
  162
  174
  187
  201
  216
  231
  246
  263
  280
  299
  318
  338
  359
  381
  404
  428
  454
  481
  509
  539
Net income, $m
  139
  165
  188
  211
  235
  261
  287
  314
  343
  373
  404
  437
  471
  507
  544
  583
  624
  666
  711
  758
  807
  859
  913
  970
  1,030
  1,093
  1,159
  1,228
  1,301
  1,377
  1,457

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  54
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,293
  1,342
  1,449
  1,560
  1,675
  1,795
  1,920
  2,050
  2,185
  2,325
  2,471
  2,623
  2,781
  2,946
  3,118
  3,298
  3,485
  3,681
  3,885
  4,098
  4,322
  4,555
  4,799
  5,055
  5,322
  5,603
  5,896
  6,203
  6,525
  6,863
  7,217
Adjusted assets (=assets-cash), $m
  1,239
  1,342
  1,449
  1,560
  1,675
  1,795
  1,920
  2,050
  2,185
  2,325
  2,471
  2,623
  2,781
  2,946
  3,118
  3,298
  3,485
  3,681
  3,885
  4,098
  4,322
  4,555
  4,799
  5,055
  5,322
  5,603
  5,896
  6,203
  6,525
  6,863
  7,217
Revenue / Adjusted assets
  1.837
  1.837
  1.836
  1.837
  1.838
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
  1.837
Average production assets, $m
  924
  1,001
  1,081
  1,163
  1,250
  1,339
  1,432
  1,529
  1,629
  1,734
  1,843
  1,956
  2,074
  2,197
  2,326
  2,460
  2,599
  2,745
  2,898
  3,057
  3,223
  3,397
  3,579
  3,770
  3,970
  4,178
  4,397
  4,627
  4,867
  5,118
  5,382
Working capital, $m
  -156
  -227
  -245
  -264
  -283
  -303
  -325
  -346
  -369
  -393
  -418
  -443
  -470
  -498
  -527
  -557
  -589
  -622
  -657
  -693
  -730
  -770
  -811
  -854
  -900
  -947
  -996
  -1,048
  -1,103
  -1,160
  -1,220
Total debt, $m
  0
  57
  117
  179
  243
  310
  380
  452
  527
  605
  686
  771
  859
  951
  1,047
  1,147
  1,251
  1,360
  1,474
  1,593
  1,717
  1,847
  1,983
  2,126
  2,275
  2,431
  2,594
  2,765
  2,945
  3,133
  3,330
Total liabilities, $m
  690
  747
  807
  869
  933
  1,000
  1,070
  1,142
  1,217
  1,295
  1,376
  1,461
  1,549
  1,641
  1,737
  1,837
  1,941
  2,050
  2,164
  2,283
  2,407
  2,537
  2,673
  2,816
  2,965
  3,121
  3,284
  3,455
  3,635
  3,823
  4,020
Total equity, $m
  603
  594
  642
  691
  742
  795
  851
  908
  968
  1,030
  1,095
  1,162
  1,232
  1,305
  1,381
  1,461
  1,544
  1,631
  1,721
  1,816
  1,914
  2,018
  2,126
  2,239
  2,358
  2,482
  2,612
  2,748
  2,891
  3,040
  3,197
Total liabilities and equity, $m
  1,293
  1,341
  1,449
  1,560
  1,675
  1,795
  1,921
  2,050
  2,185
  2,325
  2,471
  2,623
  2,781
  2,946
  3,118
  3,298
  3,485
  3,681
  3,885
  4,099
  4,321
  4,555
  4,799
  5,055
  5,323
  5,603
  5,896
  6,203
  6,526
  6,863
  7,217
Debt-to-equity ratio
  0.000
  0.100
  0.180
  0.260
  0.330
  0.390
  0.450
  0.500
  0.540
  0.590
  0.630
  0.660
  0.700
  0.730
  0.760
  0.790
  0.810
  0.830
  0.860
  0.880
  0.900
  0.920
  0.930
  0.950
  0.960
  0.980
  0.990
  1.010
  1.020
  1.030
  1.040
Adjusted equity ratio
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  139
  165
  188
  211
  235
  261
  287
  314
  343
  373
  404
  437
  471
  507
  544
  583
  624
  666
  711
  758
  807
  859
  913
  970
  1,030
  1,093
  1,159
  1,228
  1,301
  1,377
  1,457
Depreciation, amort., depletion, $m
  88
  95
  103
  111
  119
  128
  136
  146
  155
  165
  176
  186
  198
  209
  221
  234
  248
  261
  276
  291
  307
  324
  341
  359
  378
  398
  419
  441
  463
  487
  513
Funds from operations, $m
  354
  261
  291
  322
  354
  388
  423
  460
  498
  538
  580
  623
  669
  716
  765
  817
  871
  928
  987
  1,049
  1,114
  1,183
  1,254
  1,329
  1,408
  1,491
  1,577
  1,668
  1,764
  1,864
  1,970
Change in working capital, $m
  51
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -54
  -57
  -60
Cash from operations, $m
  303
  278
  309
  341
  374
  408
  444
  482
  521
  562
  605
  649
  695
  744
  794
  847
  903
  961
  1,022
  1,085
  1,152
  1,222
  1,295
  1,372
  1,453
  1,538
  1,627
  1,720
  1,818
  1,922
  2,030
Maintenance CAPEX, $m
  0
  -88
  -95
  -103
  -111
  -119
  -128
  -136
  -146
  -155
  -165
  -176
  -186
  -198
  -209
  -221
  -234
  -248
  -261
  -276
  -291
  -307
  -324
  -341
  -359
  -378
  -398
  -419
  -441
  -463
  -487
New CAPEX, $m
  -117
  -77
  -80
  -83
  -86
  -90
  -93
  -97
  -101
  -105
  -109
  -113
  -118
  -123
  -128
  -134
  -140
  -146
  -152
  -159
  -166
  -174
  -182
  -191
  -200
  -209
  -219
  -229
  -240
  -252
  -264
Cash from investing activities, $m
  -159
  -165
  -175
  -186
  -197
  -209
  -221
  -233
  -247
  -260
  -274
  -289
  -304
  -321
  -337
  -355
  -374
  -394
  -413
  -435
  -457
  -481
  -506
  -532
  -559
  -587
  -617
  -648
  -681
  -715
  -751
Free cash flow, $m
  144
  113
  134
  155
  177
  200
  224
  249
  275
  302
  330
  360
  391
  423
  457
  492
  529
  567
  608
  650
  694
  741
  790
  841
  895
  951
  1,010
  1,072
  1,138
  1,206
  1,278
Issuance/(repayment) of debt, $m
  0
  57
  60
  62
  64
  67
  69
  72
  75
  78
  81
  85
  88
  92
  96
  100
  104
  109
  114
  119
  124
  130
  136
  142
  149
  156
  163
  171
  179
  188
  197
Issuance/(repurchase) of shares, $m
  -118
  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  
  -91
  57
  60
  62
  64
  67
  69
  72
  75
  78
  81
  85
  88
  92
  96
  100
  104
  109
  114
  119
  124
  130
  136
  142
  149
  156
  163
  171
  179
  188
  197
Total cash flow (excl. dividends), $m
  52
  170
  193
  217
  241
  267
  293
  321
  350
  380
  412
  445
  479
  515
  553
  592
  633
  676
  722
  769
  819
  871
  926
  983
  1,044
  1,107
  1,174
  1,244
  1,317
  1,394
  1,475
Retained Cash Flow (-), $m
  -14
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -65
  -67
  -70
  -73
  -76
  -80
  -83
  -87
  -91
  -95
  -99
  -103
  -108
  -113
  -119
  -124
  -130
  -136
  -143
  -150
  -157
Prev. year cash balance distribution, $m
 
  54
  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
 
  179
  146
  167
  190
  214
  238
  264
  290
  318
  347
  377
  409
  442
  476
  513
  550
  590
  631
  674
  720
  768
  818
  870
  925
  983
  1,044
  1,107
  1,174
  1,245
  1,319
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
 
  171
  133
  146
  156
  166
  173
  178
  181
  183
  182
  179
  175
  168
  160
  150
  140
  128
  116
  104
  91
  79
  68
  57
  47
  38
  30
  24
  18
  14
  10
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

The Cheesecake Factory Incorporated operates full-service and casual dining restaurants primarily in the United States. As of December 12, 2016, it owned and operated 208 casual dining restaurants throughout the United States and Puerto Rico, including 194 restaurants under The Cheesecake Factory mark; 13 restaurants under the Grand Lux Cafe mark; and 1 restaurant under the RockSugar Pan Asian Kitchen mark, as well as operated 15 The Cheesecake Factory branded restaurants under licensing agreements. The company also produces cheesecakes and other baked products for foodservice operators, retailers, and distributors. The Cheesecake Factory Incorporated was founded in 1972 and is headquartered in Calabasas Hills, California.

FINANCIAL RATIOS  of  Cheesecake Factory (CAKE)

Valuation Ratios
P/E Ratio 14.7
Price to Sales 0.9
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 6.7
Price to Free Cash Flow 11
Growth Rates
Sales Growth Rate 8.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25%
Cap. Spend. - 3 Yr. Gr. Rate 1.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 33
Management Effectiveness
Return On Assets 11.3%
Ret/ On Assets - 3 Yr. Avg. 10.2%
Return On Total Capital 23.3%
Ret/ On T. Cap. - 3 Yr. Avg. 20.5%
Return On Equity 23.3%
Return On Equity - 3 Yr. Avg. 20.5%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 76.8%
Gross Margin - 3 Yr. Avg. 76%
EBITDA Margin 12.6%
EBITDA Margin - 3 Yr. Avg. 12%
Operating Margin 8.8%
Oper. Margin - 3 Yr. Avg. 8%
Pre-Tax Margin 8.4%
Pre-Tax Margin - 3 Yr. Avg. 7.7%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 5.6%
Effective Tax Rate 27.6%
Eff/ Tax Rate - 3 Yr. Avg. 27.1%
Payout Ratio 30.2%

CAKE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CAKE stock intrinsic value calculation we used $2276 million for the last fiscal year's total revenue generated by Cheesecake Factory. The default revenue input number comes from 2017 income statement of Cheesecake Factory. 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 CAKE stock valuation model: a) initial revenue growth rate of 8.3% 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 CAKE is calculated based on our internal credit rating of Cheesecake Factory, 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 Cheesecake Factory.
    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 CAKE stock the variable cost ratio is equal to 80%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $260 million in the base year in the intrinsic value calculation for CAKE 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 Cheesecake Factory.

Corporate tax rate of 27% is the nominal tax rate for Cheesecake Factory. 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 CAKE 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 CAKE are equal to 40.6%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Cheesecake Factory 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 CAKE is equal to -9.2%. 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 - $603 million for Cheesecake Factory - 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 47.393 million for Cheesecake Factory 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 Cheesecake Factory at the current share price and the inputted number of shares is $2.0 billion.

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COMPANY NEWS

▶ These 3 Stocks Just Raised Their Dividends   [Aug-07-17 08:01AM  Motley Fool]
▶ Cheesecake Factory beats 2Q profit forecasts   [Aug-02-17 09:47PM  Associated Press]
▶ Cheesecake Factory in with expectations   [04:21PM  CNBC Videos]
▶ Chipotles EBIT Margins Expanded in 2Q17   [Jul-28-17 03:36PM  Market Realist]
▶ 5 Stocks to Avoid at all Costs   [Jul-27-17 03:30PM  Zacks]
▶ The Restaurant Sector Q2 Earnings Cheat Sheet   [Jul-22-17 03:39PM  Benzinga]
▶ Chipotles Valuation Multiple Falls on New Food Safety Issues   [Jul-21-17 12:36PM  Market Realist]
▶ Olive Garden Parent Darden Restaurants Earnings Top Views   [Jun-27-17 04:01PM  Investor's Business Daily]
▶ Restaurants have to reach the consumer at home: BTIG   [Jun-26-17 03:51PM  CNBC Videos]
▶ The 3 Top Stocks for Your IRA in June   [08:28AM  Motley Fool]
▶ Ed Goldman: Is the Cheesecake Factorys revenue slimming?   [Jun-22-17 11:45AM  American City Business Journals]
▶ What Investors Missed in the Market This Week   [Jun-17-17 02:12PM  Motley Fool]
▶ New Strong Sell Stocks for June 16th   [Jun-16-17 11:34AM  Zacks]
▶ Company News for June 14, 2017   [10:28AM  Zacks]
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▶ Retail And E-Commerce News And Stocks To Watch   [03:28PM  Investor's Business Daily]
▶ Story Stocks from Briefing.com   [11:06AM  Briefing.com]
▶ The Cheesecake Factory Opens in Hackensack, New Jersey   [Jun-08-17 08:11AM  Business Wire]
▶ Is the Party Over for Cheesecake Factory?   [04:14PM  TheStreet.com]
▶ Dunkin' Brands Sales Miss In 'Increasingly Challenging' Market   [May-04-17 04:28PM  Investor's Business Daily]
▶ Cheesecake Factory Misses, Habit Profit Tops After Yum, Papa John's Beat   [May-03-17 05:00PM  Investor's Business Daily]
▶ Cheesecake Factory misses Street 1Q forecasts   [04:52PM  Associated Press]
Stock chart of CAKE Financial statements of CAKE
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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