Intrinsic value of Century Aluminum - CENX

Previous Close

$13.09

  Intrinsic Value

$2.39

stock screener

  Rating & Target

str. sell

-82%

Previous close

$13.09

 
Intrinsic value

$2.39

 
Up/down potential

-82%

 
Rating

str. sell

We calculate the intrinsic value of CENX 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  -32.36
  20.50
  18.95
  17.56
  16.30
  15.17
  14.15
  13.24
  12.41
  11.67
  11.01
  10.40
  9.86
  9.38
  8.94
  8.55
  8.19
  7.87
  7.58
  7.33
  7.09
  6.88
  6.70
  6.53
  6.37
  6.24
  6.11
  6.00
  5.90
  5.81
  5.73
Revenue, $m
  1,319
  1,915
  2,278
  2,677
  3,114
  3,586
  4,094
  4,636
  5,211
  5,819
  6,460
  7,132
  7,835
  8,570
  9,336
  10,134
  10,964
  11,827
  12,724
  13,657
  14,625
  15,632
  16,679
  17,768
  18,900
  20,079
  21,306
  22,585
  23,918
  25,308
  26,758
Variable operating expenses, $m
 
  2,254
  2,681
  3,151
  3,665
  4,221
  4,818
  5,456
  6,133
  6,849
  7,603
  8,394
  9,222
  10,087
  10,989
  11,928
  12,905
  13,921
  14,977
  16,074
  17,214
  18,399
  19,631
  20,913
  22,245
  23,633
  25,077
  26,582
  28,151
  29,787
  31,494
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
  1,553
  2,254
  2,681
  3,151
  3,665
  4,221
  4,818
  5,456
  6,133
  6,849
  7,603
  8,394
  9,222
  10,087
  10,989
  11,928
  12,905
  13,921
  14,977
  16,074
  17,214
  18,399
  19,631
  20,913
  22,245
  23,633
  25,077
  26,582
  28,151
  29,787
  31,494
Operating income, $m
  -234
  -339
  -403
  -474
  -551
  -635
  -725
  -821
  -922
  -1,030
  -1,143
  -1,262
  -1,387
  -1,517
  -1,653
  -1,794
  -1,941
  -2,093
  -2,252
  -2,417
  -2,589
  -2,767
  -2,952
  -3,145
  -3,345
  -3,554
  -3,771
  -3,998
  -4,233
  -4,479
  -4,736
EBITDA, $m
  -149
  -218
  -260
  -305
  -355
  -409
  -467
  -529
  -595
  -664
  -737
  -814
  -894
  -978
  -1,065
  -1,156
  -1,251
  -1,350
  -1,452
  -1,558
  -1,669
  -1,784
  -1,903
  -2,027
  -2,157
  -2,291
  -2,431
  -2,577
  -2,729
  -2,888
  -3,053
Interest expense (income), $m
  20
  22
  36
  51
  67
  85
  104
  125
  147
  171
  196
  222
  250
  279
  309
  341
  374
  408
  443
  480
  518
  558
  600
  643
  687
  734
  783
  833
  886
  940
  998
Earnings before tax, $m
  -251
  -361
  -439
  -524
  -618
  -720
  -829
  -946
  -1,070
  -1,201
  -1,340
  -1,485
  -1,637
  -1,796
  -1,962
  -2,135
  -2,314
  -2,501
  -2,695
  -2,897
  -3,107
  -3,325
  -3,552
  -3,788
  -4,033
  -4,288
  -4,554
  -4,830
  -5,119
  -5,420
  -5,734
Tax expense, $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
  0
Net income, $m
  -252
  -361
  -439
  -524
  -618
  -720
  -829
  -946
  -1,070
  -1,201
  -1,340
  -1,485
  -1,637
  -1,796
  -1,962
  -2,135
  -2,314
  -2,501
  -2,695
  -2,897
  -3,107
  -3,325
  -3,552
  -3,788
  -4,033
  -4,288
  -4,554
  -4,830
  -5,119
  -5,420
  -5,734

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  132
  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
  1,540
  1,905
  2,266
  2,664
  3,098
  3,568
  4,073
  4,613
  5,185
  5,790
  6,428
  7,096
  7,796
  8,527
  9,290
  10,084
  10,910
  11,769
  12,661
  13,589
  14,553
  15,555
  16,596
  17,679
  18,806
  19,979
  21,200
  22,472
  23,799
  25,182
  26,625
Adjusted assets (=assets-cash), $m
  1,408
  1,905
  2,266
  2,664
  3,098
  3,568
  4,073
  4,613
  5,185
  5,790
  6,428
  7,096
  7,796
  8,527
  9,290
  10,084
  10,910
  11,769
  12,661
  13,589
  14,553
  15,555
  16,596
  17,679
  18,806
  19,979
  21,200
  22,472
  23,799
  25,182
  26,625
Revenue / Adjusted assets
  0.937
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
Average production assets, $m
  1,130
  1,204
  1,433
  1,684
  1,959
  2,256
  2,575
  2,916
  3,278
  3,660
  4,063
  4,486
  4,928
  5,391
  5,872
  6,374
  6,896
  7,439
  8,004
  8,590
  9,199
  9,833
  10,491
  11,176
  11,888
  12,630
  13,402
  14,206
  15,044
  15,918
  16,831
Working capital, $m
  262
  249
  296
  348
  405
  466
  532
  603
  677
  757
  840
  927
  1,019
  1,114
  1,214
  1,317
  1,425
  1,538
  1,654
  1,775
  1,901
  2,032
  2,168
  2,310
  2,457
  2,610
  2,770
  2,936
  3,109
  3,290
  3,479
Total debt, $m
  256
  409
  581
  770
  976
  1,199
  1,439
  1,695
  1,967
  2,255
  2,557
  2,875
  3,208
  3,555
  3,917
  4,294
  4,686
  5,094
  5,518
  5,959
  6,417
  6,893
  7,387
  7,902
  8,437
  8,994
  9,574
  10,179
  10,809
  11,466
  12,151
Total liabilities, $m
  784
  905
  1,076
  1,265
  1,472
  1,695
  1,935
  2,191
  2,463
  2,750
  3,053
  3,371
  3,703
  4,051
  4,413
  4,790
  5,182
  5,590
  6,014
  6,455
  6,913
  7,388
  7,883
  8,398
  8,933
  9,490
  10,070
  10,674
  11,304
  11,961
  12,647
Total equity, $m
  757
  1,000
  1,190
  1,399
  1,627
  1,873
  2,139
  2,422
  2,722
  3,040
  3,374
  3,726
  4,093
  4,477
  4,877
  5,294
  5,728
  6,178
  6,647
  7,134
  7,640
  8,166
  8,713
  9,282
  9,873
  10,489
  11,130
  11,798
  12,494
  13,220
  13,978
Total liabilities and equity, $m
  1,541
  1,905
  2,266
  2,664
  3,099
  3,568
  4,074
  4,613
  5,185
  5,790
  6,427
  7,097
  7,796
  8,528
  9,290
  10,084
  10,910
  11,768
  12,661
  13,589
  14,553
  15,554
  16,596
  17,680
  18,806
  19,979
  21,200
  22,472
  23,798
  25,181
  26,625
Debt-to-equity ratio
  0.338
  0.410
  0.490
  0.550
  0.600
  0.640
  0.670
  0.700
  0.720
  0.740
  0.760
  0.770
  0.780
  0.790
  0.800
  0.810
  0.820
  0.820
  0.830
  0.840
  0.840
  0.840
  0.850
  0.850
  0.850
  0.860
  0.860
  0.860
  0.870
  0.870
  0.870
Adjusted equity ratio
  0.450
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -252
  -361
  -439
  -524
  -618
  -720
  -829
  -946
  -1,070
  -1,201
  -1,340
  -1,485
  -1,637
  -1,796
  -1,962
  -2,135
  -2,314
  -2,501
  -2,695
  -2,897
  -3,107
  -3,325
  -3,552
  -3,788
  -4,033
  -4,288
  -4,554
  -4,830
  -5,119
  -5,420
  -5,734
Depreciation, amort., depletion, $m
  85
  120
  143
  168
  196
  226
  257
  292
  328
  366
  406
  449
  493
  539
  587
  637
  690
  744
  800
  859
  920
  983
  1,049
  1,118
  1,189
  1,263
  1,340
  1,421
  1,504
  1,592
  1,683
Funds from operations, $m
  84
  -241
  -295
  -356
  -422
  -494
  -571
  -654
  -742
  -835
  -933
  -1,036
  -1,144
  -1,257
  -1,375
  -1,497
  -1,625
  -1,757
  -1,895
  -2,038
  -2,187
  -2,342
  -2,503
  -2,670
  -2,844
  -3,025
  -3,214
  -3,410
  -3,615
  -3,828
  -4,051
Change in working capital, $m
  46
  42
  47
  52
  57
  61
  66
  70
  75
  79
  83
  87
  91
  96
  100
  104
  108
  112
  117
  121
  126
  131
  136
  142
  147
  153
  160
  166
  173
  181
  189
Cash from operations, $m
  38
  -283
  -343
  -408
  -479
  -556
  -637
  -725
  -817
  -914
  -1,016
  -1,124
  -1,236
  -1,352
  -1,474
  -1,601
  -1,733
  -1,869
  -2,012
  -2,160
  -2,313
  -2,473
  -2,639
  -2,812
  -2,991
  -3,178
  -3,373
  -3,576
  -3,788
  -4,009
  -4,239
Maintenance CAPEX, $m
  0
  -100
  -120
  -143
  -168
  -196
  -226
  -257
  -292
  -328
  -366
  -406
  -449
  -493
  -539
  -587
  -637
  -690
  -744
  -800
  -859
  -920
  -983
  -1,049
  -1,118
  -1,189
  -1,263
  -1,340
  -1,421
  -1,504
  -1,592
New CAPEX, $m
  -22
  -205
  -228
  -251
  -274
  -297
  -319
  -341
  -362
  -383
  -403
  -423
  -442
  -462
  -482
  -502
  -522
  -543
  -564
  -586
  -609
  -633
  -658
  -685
  -712
  -741
  -772
  -804
  -838
  -874
  -912
Cash from investing activities, $m
  -21
  -305
  -348
  -394
  -442
  -493
  -545
  -598
  -654
  -711
  -769
  -829
  -891
  -955
  -1,021
  -1,089
  -1,159
  -1,233
  -1,308
  -1,386
  -1,468
  -1,553
  -1,641
  -1,734
  -1,830
  -1,930
  -2,035
  -2,144
  -2,259
  -2,378
  -2,504
Free cash flow, $m
  17
  -588
  -691
  -803
  -922
  -1,048
  -1,182
  -1,323
  -1,470
  -1,625
  -1,785
  -1,953
  -2,127
  -2,307
  -2,495
  -2,690
  -2,892
  -3,102
  -3,320
  -3,546
  -3,782
  -4,026
  -4,281
  -4,545
  -4,821
  -5,108
  -5,408
  -5,721
  -6,047
  -6,387
  -6,743
Issuance/(repayment) of debt, $m
  0
  153
  171
  189
  206
  223
  240
  256
  272
  287
  303
  318
  332
  347
  362
  377
  392
  408
  424
  441
  458
  476
  495
  514
  535
  557
  580
  604
  630
  657
  685
Issuance/(repurchase) of shares, $m
  0
  531
  628
  733
  846
  966
  1,094
  1,229
  1,370
  1,519
  1,674
  1,836
  2,004
  2,180
  2,362
  2,551
  2,748
  2,952
  3,164
  3,384
  3,613
  3,851
  4,099
  4,356
  4,624
  4,904
  5,195
  5,498
  5,815
  6,146
  6,491
Cash from financing (excl. dividends), $m  
  0
  684
  799
  922
  1,052
  1,189
  1,334
  1,485
  1,642
  1,806
  1,977
  2,154
  2,336
  2,527
  2,724
  2,928
  3,140
  3,360
  3,588
  3,825
  4,071
  4,327
  4,594
  4,870
  5,159
  5,461
  5,775
  6,102
  6,445
  6,803
  7,176
Total cash flow (excl. dividends), $m
  17
  96
  108
  120
  130
  141
  152
  162
  172
  182
  191
  201
  210
  220
  229
  239
  248
  258
  268
  279
  290
  301
  313
  325
  339
  352
  367
  382
  398
  415
  433
Retained Cash Flow (-), $m
  252
  -531
  -628
  -733
  -846
  -966
  -1,094
  -1,229
  -1,370
  -1,519
  -1,674
  -1,836
  -2,004
  -2,180
  -2,362
  -2,551
  -2,748
  -2,952
  -3,164
  -3,384
  -3,613
  -3,851
  -4,099
  -4,356
  -4,624
  -4,904
  -5,195
  -5,498
  -5,815
  -6,146
  -6,491
Prev. year cash balance distribution, $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 flow adjustment, $m
 
  2
  2
  2
  3
  3
  4
  4
  5
  5
  6
  6
  7
  8
  9
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  23
  24
  25
Cash available for distribution, $m
 
  -435
  -520
  -614
  -716
  -825
  -942
  -1,067
  -1,198
  -1,337
  -1,483
  -1,635
  -1,794
  -1,960
  -2,133
  -2,313
  -2,500
  -2,694
  -2,896
  -3,106
  -3,324
  -3,550
  -3,786
  -4,031
  -4,286
  -4,551
  -4,828
  -5,116
  -5,417
  -5,730
  -6,058
Discount rate, %
 
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
 
  -410
  -459
  -505
  -545
  -577
  -601
  -615
  -620
  -615
  -600
  -577
  -545
  -507
  -465
  -418
  -370
  -322
  -275
  -230
  -189
  -152
  -120
  -92
  -70
  -51
  -37
  -26
  -17
  -11
  -7
Current shareholders' claim on cash, %
  100
  68.2
  46.8
  32.3
  22.4
  15.6
  11.0
  7.7
  5.5
  3.9
  2.8
  2.0
  1.4
  1.0
  0.7
  0.5
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company's primary aluminum facilities produce standard grade primary aluminum products. As of December 31, 2016, its annual primary aluminum production capacity was approximately 1,012,000 tons per year (tpy). The Company's principal subsidiaries are Century Kentucky, Inc. (CAKY), Nordural ehf (Nordural), Century Aluminum Sebree LLC (Century Sebree), Century Aluminum of South Carolina (CASC) and Century Aluminum of West Virginia, Inc. (Century of West Virginia). Its CAKY operates a primary aluminum reduction facility in Hawesville, Kentucky (Hawesville). Nordural Grundartangi ehf, a subsidiary of Nordural, operates a primary aluminum reduction facility in Grundartangi, Iceland (Grundartangi).

FINANCIAL RATIOS  of  Century Aluminum (CENX)

Valuation Ratios
P/E Ratio -4.5
Price to Sales 0.9
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 30.1
Price to Free Cash Flow 71.4
Growth Rates
Sales Growth Rate -32.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -60%
Cap. Spend. - 3 Yr. Gr. Rate -14.1%
Financial Strength
Quick Ratio 17
Current Ratio 0.1
LT Debt to Equity 32.8%
Total Debt to Equity 33.8%
Interest Coverage -12
Management Effectiveness
Return On Assets -14.1%
Ret/ On Assets - 3 Yr. Avg. -2.8%
Return On Total Capital -22.1%
Ret/ On T. Cap. - 3 Yr. Avg. -5.7%
Return On Equity -28.5%
Return On Equity - 3 Yr. Avg. -7.4%
Asset Turnover 0.8
Profitability Ratios
Gross Margin -0.8%
Gross Margin - 3 Yr. Avg. 3.9%
EBITDA Margin -11.1%
EBITDA Margin - 3 Yr. Avg. 1.3%
Operating Margin -17.7%
Oper. Margin - 3 Yr. Avg. -4.2%
Pre-Tax Margin -19%
Pre-Tax Margin - 3 Yr. Avg. -4.6%
Net Profit Margin -19.1%
Net Profit Margin - 3 Yr. Avg. -5.2%
Effective Tax Rate -1.2%
Eff/ Tax Rate - 3 Yr. Avg. -3.5%
Payout Ratio 0%

CENX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CENX stock intrinsic value calculation we used $1589 million for the last fiscal year's total revenue generated by Century Aluminum. The default revenue input number comes from 2016 income statement of Century Aluminum. 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 CENX stock valuation model: a) initial revenue growth rate of 20.5% 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 6.1%, whose default value for CENX is calculated based on our internal credit rating of Century Aluminum, 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 Century Aluminum.
    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 CENX stock the variable cost ratio is equal to 117.7%.

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 CENX 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 8.7% for Century Aluminum.

Corporate tax rate of 27% is the nominal tax rate for Century Aluminum. 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 CENX stock is equal to 0.1%.

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 CENX are equal to 62.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Century Aluminum 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 CENX is equal to 13%. 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 - $830 million for Century Aluminum - 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 87 million for Century Aluminum 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 Century Aluminum at the current share price and the inputted number of shares is $1.1 billion.

RELATED COMPANIES Price Int.Val. Rating
AA Alcoa 41.56 849.30  str.buy
KALU Kaiser Aluminu 108.46 89.20  hold

COMPANY NEWS

▶ Why Aluminum Stocks are Sinking Today   [Jul-19-18 04:02PM  Motley Fool]
▶ Alcoa & Century Aluminum: Buy One, Skip the Other   [Jun-21-18 10:41AM  Barrons.com]
▶ Steel and Aluminum Stocks Suffer Amidst Trade War Woes   [Jun-19-18 12:59PM  TheStreet.com]
▶ Why Century Aluminum Stock Just Dropped 10%   [May-04-18 11:38AM  Motley Fool]
▶ Century: 1Q Earnings Snapshot   [May-03-18 07:33PM  Associated Press]
▶ Why Alcoa Corp.'s Stock Is Slumping Today   [Apr-23-18 11:31AM  Motley Fool]
▶ Earnings Confirm Alcoa Corp Is in a Sweet Spot   [Apr-19-18 01:17PM  InvestorPlace]
▶ Russian sanctions could fuel another aluminum rally   [Apr-14-18 04:11PM  MarketWatch]
▶ Russia's Pain is Century Aluminum's Gain   [Apr-09-18 06:00PM  Barrons.com]
▶ Aluminum Stocks Jump As Trump Sanctions Target Putin Pal   [04:12PM  Investor's Business Daily]
▶ Century Aluminum CEO on the tariff impact   [Apr-03-18 01:23PM  CNBC Videos]
▶ [$$] US businesses seek clarity on Trump tariff plans   [Mar-25-18 01:15AM  Financial Times]
▶ [$$] How Century Aluminum Won a Lonely Fight for Tariffs   [Mar-22-18 05:05PM  The Wall Street Journal]
▶ Heres what new Chinese and US tariffs mean for the American economy   [Mar-21-18 11:27AM  Yahoo Finance Video]
▶ Steel Stocks Hammered After Tariffs   [10:57AM  Barrons.com]
▶ Reviving the US aluminum industry   [08:33AM  CNBC Videos]
▶ Trump doubles down on tariffs   [Mar-05-18 05:16PM  Yahoo Finance Video]
▶ [$$] New Tariffs Add Heat to Steel, Aluminum Markets   [Mar-02-18 11:37PM  The Wall Street Journal]
▶ [$$] Steel Makers Among the Few to Praise Tariff Plan   [03:39PM  The Wall Street Journal]
▶ Trump is picking winners and losers   [11:57AM  Yahoo Finance]
▶ [$$] New Tariffs Add Heat to Steel, Aluminum Markets   [08:00AM  The Wall Street Journal]
Financial statements of CENX
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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