Intrinsic value of Chegg - CHGG

Previous Close

$15.98

  Intrinsic Value

$0.26

stock screener

  Rating & Target

str. sell

-98%

  Value-price divergence*

-168%

Previous close

$15.98

 
Intrinsic value

$0.26

 
Up/down potential

-98%

 
Rating

str. sell

 
Value-price divergence*

-168%

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

We calculate the intrinsic value of CHGG 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 1.6

 

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, %
  -15.61
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.11
  5.09
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
Revenue, $m
  254
  268
  284
  299
  316
  333
  351
  370
  390
  410
  432
  455
  478
  503
  529
  557
  585
  615
  647
  680
  715
  751
  789
  829
  871
  915
  961
  1,010
  1,061
  1,114
  1,170
Variable operating expenses, $m
 
  320
  337
  355
  374
  394
  414
  436
  459
  482
  507
  522
  549
  577
  607
  639
  672
  706
  742
  780
  820
  861
  905
  951
  999
  1,050
  1,103
  1,158
  1,217
  1,278
  1,342
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
  294
  320
  337
  355
  374
  394
  414
  436
  459
  482
  507
  522
  549
  577
  607
  639
  672
  706
  742
  780
  820
  861
  905
  951
  999
  1,050
  1,103
  1,158
  1,217
  1,278
  1,342
Operating income, $m
  -40
  -51
  -53
  -56
  -58
  -61
  -63
  -66
  -69
  -72
  -75
  -67
  -70
  -74
  -78
  -82
  -86
  -91
  -95
  -100
  -105
  -111
  -116
  -122
  -128
  -135
  -142
  -149
  -156
  -164
  -172
EBITDA, $m
  -16
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -49
  -51
  -54
  -57
  -60
  -63
  -66
  -70
  -73
  -77
  -81
  -85
  -89
  -94
  -99
  -104
  -109
  -114
  -120
  -126
  -132
Interest expense (income), $m
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  7
  7
  8
  8
Earnings before tax, $m
  -41
  -51
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -77
  -69
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -104
  -109
  -115
  -121
  -127
  -134
  -141
  -148
  -155
  -163
  -172
  -181
Tax expense, $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
Net income, $m
  -42
  -51
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -77
  -69
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -104
  -109
  -115
  -121
  -127
  -134
  -141
  -148
  -155
  -163
  -172
  -181

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  77
  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
  291
  226
  239
  252
  266
  281
  296
  312
  328
  346
  364
  383
  403
  424
  446
  469
  493
  518
  545
  573
  602
  633
  665
  698
  734
  771
  810
  851
  893
  938
  986
Adjusted assets (=assets-cash), $m
  214
  226
  239
  252
  266
  281
  296
  312
  328
  346
  364
  383
  403
  424
  446
  469
  493
  518
  545
  573
  602
  633
  665
  698
  734
  771
  810
  851
  893
  938
  986
Revenue / Adjusted assets
  1.187
  1.186
  1.188
  1.187
  1.188
  1.185
  1.186
  1.186
  1.189
  1.185
  1.187
  1.188
  1.186
  1.186
  1.186
  1.188
  1.187
  1.187
  1.187
  1.187
  1.188
  1.186
  1.186
  1.188
  1.187
  1.187
  1.186
  1.187
  1.188
  1.188
  1.187
Average production assets, $m
  59
  62
  66
  69
  73
  77
  81
  86
  90
  95
  100
  105
  111
  117
  123
  129
  136
  143
  150
  158
  166
  174
  183
  192
  202
  212
  223
  234
  246
  258
  271
Working capital, $m
  47
  -32
  -33
  -35
  -37
  -39
  -41
  -44
  -46
  -48
  -51
  -54
  -56
  -59
  -62
  -66
  -69
  -73
  -76
  -80
  -84
  -89
  -93
  -98
  -103
  -108
  -113
  -119
  -125
  -131
  -138
Total debt, $m
  0
  4
  8
  12
  17
  21
  26
  31
  37
  42
  48
  54
  61
  68
  75
  82
  90
  98
  106
  115
  125
  135
  145
  156
  167
  179
  192
  205
  219
  233
  248
Total liabilities, $m
  69
  73
  77
  81
  86
  90
  95
  100
  106
  111
  117
  123
  130
  137
  144
  151
  159
  167
  175
  184
  194
  204
  214
  225
  236
  248
  261
  274
  288
  302
  317
Total equity, $m
  222
  153
  162
  171
  180
  190
  201
  211
  223
  234
  247
  260
  273
  287
  302
  318
  334
  351
  369
  388
  408
  429
  451
  473
  497
  523
  549
  577
  606
  636
  668
Total liabilities and equity, $m
  291
  226
  239
  252
  266
  280
  296
  311
  329
  345
  364
  383
  403
  424
  446
  469
  493
  518
  544
  572
  602
  633
  665
  698
  733
  771
  810
  851
  894
  938
  985
Debt-to-equity ratio
  0.000
  0.020
  0.050
  0.070
  0.090
  0.110
  0.130
  0.150
  0.160
  0.180
  0.200
  0.210
  0.220
  0.230
  0.250
  0.260
  0.270
  0.280
  0.290
  0.300
  0.310
  0.310
  0.320
  0.330
  0.340
  0.340
  0.350
  0.360
  0.360
  0.370
  0.370
Adjusted equity ratio
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678
  0.678

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -42
  -51
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -77
  -69
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -104
  -109
  -115
  -121
  -127
  -134
  -141
  -148
  -155
  -163
  -172
  -181
Depreciation, amort., depletion, $m
  24
  21
  21
  22
  22
  23
  24
  24
  25
  26
  26
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  26
  27
  28
  30
  31
  33
  34
  36
  38
  40
Funds from operations, $m
  26
  -30
  -32
  -34
  -36
  -38
  -41
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -62
  -66
  -69
  -73
  -77
  -81
  -85
  -89
  -94
  -99
  -104
  -109
  -115
  -121
  -127
  -134
  -141
Change in working capital, $m
  1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
Cash from operations, $m
  25
  -29
  -30
  -32
  -34
  -36
  -38
  -41
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -62
  -66
  -69
  -73
  -77
  -81
  -85
  -90
  -94
  -99
  -104
  -110
  -115
  -121
  -127
  -134
Maintenance CAPEX, $m
  0
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
  -33
  -34
  -36
  -38
New CAPEX, $m
  -26
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
Cash from investing activities, $m
  -6
  -12
  -13
  -14
  -14
  -15
  -15
  -16
  -18
  -18
  -19
  -20
  -22
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
  -32
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
Free cash flow, $m
  19
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -87
  -91
  -96
  -101
  -107
  -112
  -118
  -124
  -130
  -137
  -144
  -152
  -159
  -167
  -176
  -185
Issuance/(repayment) of debt, $m
  0
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  14
  15
Issuance/(repurchase) of shares, $m
  2
  60
  62
  65
  68
  71
  74
  78
  81
  85
  89
  82
  86
  90
  95
  100
  105
  111
  117
  123
  129
  136
  143
  150
  158
  166
  174
  183
  192
  202
  213
Cash from financing (excl. dividends), $m  
  -9
  64
  66
  69
  72
  76
  79
  83
  86
  91
  95
  88
  92
  97
  102
  107
  113
  119
  126
  132
  138
  146
  153
  161
  169
  178
  187
  196
  206
  216
  228
Total cash flow (excl. dividends), $m
  10
  23
  23
  24
  24
  25
  25
  26
  27
  27
  28
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  30
  32
  34
  35
  37
  39
  41
  43
Retained Cash Flow (-), $m
  9
  -60
  -62
  -65
  -68
  -71
  -74
  -78
  -81
  -85
  -89
  -82
  -86
  -90
  -95
  -100
  -105
  -111
  -117
  -123
  -129
  -136
  -143
  -150
  -158
  -166
  -174
  -183
  -192
  -202
  -213
Prev. year cash balance distribution, $m
 
  77
  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
 
  40
  -39
  -41
  -44
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -72
  -75
  -79
  -84
  -88
  -93
  -98
  -103
  -108
  -114
  -120
  -126
  -132
  -139
  -146
  -154
  -162
  -170
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
 
  39
  -36
  -36
  -36
  -36
  -36
  -35
  -34
  -33
  -32
  -31
  -29
  -27
  -25
  -23
  -21
  -19
  -17
  -15
  -13
  -11
  -9
  -8
  -6
  -5
  -4
  -3
  -2
  -2
  -1
Current shareholders' claim on cash, %
  100
  94.7
  89.7
  85.0
  80.6
  76.5
  72.6
  68.9
  65.4
  62.2
  59.1
  56.5
  54.1
  51.7
  49.5
  47.3
  45.3
  43.3
  41.4
  39.6
  37.9
  36.2
  34.6
  33.1
  31.7
  30.3
  29.0
  27.7
  26.5
  25.3
  24.2

Chegg, Inc. is a student-first connected learning platform. The Company helps students study for college admission exams, find the colleges, get grades and test scores while in school, and find internships that allow them to gain skills to help them enter the workforce after college. The Company matches domestic and international students with colleges, universities and other academic institutions (collectively referred to as colleges) in the United States. It also offers eTextbooks library for rent and sale. The Company also has live tutors on its connected learning platform available to students online, anytime, anywhere through its Chegg Tutors service. It provides access to internships to help students gain skills that are critical to securing their first job. It offers two product lines: Required Materials and Chegg Services. The Required Materials product line includes the rental and sale of print textbooks and eTextbooks, as well as the commission it receives from Ingram.

FINANCIAL RATIOS  of  Chegg (CHGG)

Valuation Ratios
P/E Ratio -34.9
Price to Sales 5.8
Price to Book 6.6
Price to Tangible Book
Price to Cash Flow 58.6
Price to Free Cash Flow -1465.5
Growth Rates
Sales Growth Rate -15.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -36.6%
Cap. Spend. - 3 Yr. Gr. Rate -27.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.3
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -14.4%
Ret/ On Assets - 3 Yr. Avg. -18%
Return On Total Capital -18.5%
Ret/ On T. Cap. - 3 Yr. Avg. -22.7%
Return On Equity -18.5%
Return On Equity - 3 Yr. Avg. -22.7%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 52.8%
Gross Margin - 3 Yr. Avg. 40.3%
EBITDA Margin -6.7%
EBITDA Margin - 3 Yr. Avg. -0.8%
Operating Margin -15.7%
Oper. Margin - 3 Yr. Avg. -18.8%
Pre-Tax Margin -16.1%
Pre-Tax Margin - 3 Yr. Avg. -18.9%
Net Profit Margin -16.5%
Net Profit Margin - 3 Yr. Avg. -19.1%
Effective Tax Rate -2.4%
Eff/ Tax Rate - 3 Yr. Avg. -1.4%
Payout Ratio 0%

CHGG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CHGG stock intrinsic value calculation we used $254 million for the last fiscal year's total revenue generated by Chegg. The default revenue input number comes from 2016 income statement of Chegg. 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 CHGG stock valuation model: a) initial revenue growth rate of 5.7% 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 CHGG is calculated based on our internal credit rating of Chegg, 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 Chegg.
    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 CHGG stock the variable cost ratio is equal to 119.3%.

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 CHGG 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 Chegg.

Corporate tax rate of 27% is the nominal tax rate for Chegg. 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 CHGG 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 CHGG are equal to 23.2%.

Life of production assets of 6.8 years is the average useful life of capital assets used in Chegg 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 CHGG is equal to -11.8%. 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 - $222 million for Chegg - 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 101.212 million for Chegg 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 Chegg at the current share price and the inputted number of shares is $1.6 billion.

RELATED COMPANIES Price Int.Val. Rating
BNED Barnes&Noble E 6.24 24.46  str.buy
BKS Barnes&Noble 7.30 5.33  sell
GOOGL Alphabet Cl A 1,009.35 932.13  hold
CPLA Capella Educat 69.40 80.54  buy
ABCD Cambium Learni 6.11 1.07  str.sell
HMHC Houghton Miffl 11.40 0.41  str.sell

COMPANY NEWS

▶ Chegg to Announce Third Quarter 2017 Financial Results   [Oct-09-17 04:05PM  PR Newswire]
▶ 2U: Valuation Concerns and Market Opportunities   [Sep-22-17 07:17PM  Motley Fool]
▶ Chegg Inc. Finds Its Niche   [06:43PM  Motley Fool]
▶ Back to School With 2 High-Growth Education Companies   [Sep-21-17 07:31PM  Motley Fool]
▶ How Washington can help boost the tech sector   [Aug-25-17 09:49PM  Fox Business Videos]
▶ ETFs with exposure to Chegg, Inc. : August 15, 2017   [Aug-15-17 03:42PM  Capital Cube]
▶ A Battle is Brewing in the New World of Homework Help   [Aug-04-17 03:23PM  Barrons.com]
▶ Why Chegg Shares Jumped Today   [Aug-03-17 01:42PM  Motley Fool]
▶ Chegg Announces Pricing of Follow-on Offering   [Aug-02-17 07:00PM  PR Newswire]
▶ Chegg Announces Proposed Follow-on Offering   [Jul-31-17 05:18PM  PR Newswire]
▶ Chegg reports 2Q loss   [Jul-25-17 10:42PM  Associated Press]
▶ ETFs with exposure to Chegg, Inc. : July 21, 2017   [Jul-21-17 01:47PM  Capital Cube]
▶ Chegg, Inc. Value Analysis (NYSE:CHGG) : July 11, 2017   [Jul-11-17 03:25PM  Capital Cube]
▶ ETFs with exposure to Chegg, Inc. : July 10, 2017   [Jul-10-17 02:09PM  Capital Cube]
▶ ETFs with exposure to Chegg, Inc. : June 5, 2017   [Jun-05-17 02:08PM  Capital Cube]
▶ ETFs with exposure to Chegg, Inc. : May 5, 2017   [May-05-17 03:57PM  Capital Cube]
▶ Why Chegg Stock Soared Today   [May-02-17 01:01PM  Motley Fool]
▶ Story Stocks from Briefing.com   [12:41PM  Briefing.com]
▶ After-hours buzz: AMD, THC, TXRH & more   [May-01-17 05:21PM  CNBC]
▶ Chegg reports 1Q loss   [04:16PM  Associated Press]
▶ ETFs with exposure to Chegg, Inc. : April 25, 2017   [Apr-25-17 03:27PM  Capital Cube]
▶ Chegg to Announce First Quarter 2017 Financial Results   [Apr-13-17 04:05PM  PR Newswire]
▶ ETFs with exposure to Chegg, Inc. : April 5, 2017   [Apr-05-17 04:30PM  Capital Cube]
▶ Chegg reports 4Q loss   [Feb-13-17 04:48PM  Associated Press]
▶ [$$] Correlation Ventures Raises $200 Million Second Fund   [Jan-11-17 06:00PM  at The Wall Street Journal]
▶ [$$] Databricks Raises $60 Million to Provide Big-Data Platform   [Dec-15-16 07:30AM  at The Wall Street Journal]
▶ Is Chegg Inc (CHGG) A Good Stock To Buy Right Now?   [Dec-10-16 03:00PM  at Insider Monkey]
▶ Chegg Reports Q3 2016 Earnings   [04:05PM  PR Newswire]
▶ Chegg to Announce Third Quarter 2016 Financial Results   [Oct-06-16 04:05PM  PR Newswire]
▶ Vote to have Kaskade Perform at Your School   [Sep-27-16 11:24AM  PR Newswire]
Financial statements of CHGG
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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