Intrinsic value of Caladrius Biosciences - CLBS

Previous Close

$4.02

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

  Value-price divergence*

-805%

Previous close

$4.02

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

 
Value-price divergence*

-805%

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

We calculate the intrinsic value of CLBS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  59.09
  59.10
  53.69
  48.82
  44.44
  40.50
  36.95
  33.75
  30.88
  28.29
  25.96
  23.86
  21.98
  20.28
  18.75
  17.38
  16.14
  15.02
  14.02
  13.12
  12.31
  11.58
  10.92
  10.33
  9.79
  9.32
  8.88
  8.50
  8.15
  7.83
  7.55
Revenue, $m
  35
  56
  86
  127
  184
  258
  354
  473
  620
  795
  1,001
  1,240
  1,513
  1,819
  2,161
  2,536
  2,945
  3,388
  3,863
  4,370
  4,907
  5,476
  6,074
  6,701
  7,357
  8,042
  8,757
  9,501
  10,275
  11,079
  11,916
Variable operating expenses, $m
 
  343
  527
  784
  1,132
  1,590
  2,178
  2,913
  3,812
  4,890
  6,159
  7,628
  9,304
  11,191
  13,290
  15,599
  18,116
  20,838
  23,760
  26,878
  30,186
  33,681
  37,358
  41,217
  45,254
  49,469
  53,864
  58,440
  63,200
  68,150
  73,294
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
  67
  343
  527
  784
  1,132
  1,590
  2,178
  2,913
  3,812
  4,890
  6,159
  7,628
  9,304
  11,191
  13,290
  15,599
  18,116
  20,838
  23,760
  26,878
  30,186
  33,681
  37,358
  41,217
  45,254
  49,469
  53,864
  58,440
  63,200
  68,150
  73,294
Operating income, $m
  -31
  -288
  -442
  -657
  -948
  -1,332
  -1,824
  -2,439
  -3,192
  -4,095
  -5,158
  -6,388
  -7,792
  -9,372
  -11,129
  -13,063
  -15,171
  -17,451
  -19,897
  -22,508
  -25,278
  -28,205
  -31,285
  -34,516
  -37,897
  -41,427
  -45,107
  -48,939
  -52,926
  -57,070
  -61,378
EBITDA, $m
  -28
  -284
  -436
  -649
  -937
  -1,317
  -1,803
  -2,412
  -3,156
  -4,049
  -5,100
  -6,317
  -7,705
  -9,268
  -11,006
  -12,918
  -15,003
  -17,257
  -19,677
  -22,259
  -24,998
  -27,892
  -30,938
  -34,133
  -37,476
  -40,967
  -44,607
  -48,397
  -52,339
  -56,438
  -60,698
Interest expense (income), $m
  2
  1
  5
  11
  20
  32
  47
  67
  92
  123
  159
  202
  252
  309
  373
  444
  522
  608
  700
  799
  905
  1,017
  1,136
  1,260
  1,391
  1,528
  1,671
  1,820
  1,976
  2,137
  2,305
Earnings before tax, $m
  -33
  -288
  -446
  -668
  -968
  -1,364
  -1,871
  -2,506
  -3,284
  -4,218
  -5,317
  -6,590
  -8,044
  -9,681
  -11,502
  -13,507
  -15,693
  -18,058
  -20,598
  -23,307
  -26,183
  -29,222
  -32,421
  -35,776
  -39,288
  -42,955
  -46,778
  -50,759
  -54,901
  -59,207
  -63,683
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -33
  -288
  -446
  -668
  -968
  -1,364
  -1,871
  -2,506
  -3,284
  -4,218
  -5,317
  -6,590
  -8,044
  -9,681
  -11,502
  -13,507
  -15,693
  -18,058
  -20,598
  -23,307
  -26,183
  -29,222
  -32,421
  -35,776
  -39,288
  -42,955
  -46,778
  -50,759
  -54,901
  -59,207
  -63,683

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  15
  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
  52
  78
  119
  177
  256
  360
  493
  659
  863
  1,107
  1,394
  1,727
  2,107
  2,534
  3,009
  3,532
  4,102
  4,718
  5,380
  6,086
  6,835
  7,626
  8,459
  9,333
  10,247
  11,201
  12,196
  13,232
  14,310
  15,431
  16,596
Adjusted assets (=assets-cash), $m
  37
  78
  119
  177
  256
  360
  493
  659
  863
  1,107
  1,394
  1,727
  2,107
  2,534
  3,009
  3,532
  4,102
  4,718
  5,380
  6,086
  6,835
  7,626
  8,459
  9,333
  10,247
  11,201
  12,196
  13,232
  14,310
  15,431
  16,596
Revenue / Adjusted assets
  0.946
  0.718
  0.723
  0.718
  0.719
  0.717
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
  0.718
Average production assets, $m
  20
  32
  49
  73
  105
  148
  202
  270
  354
  454
  572
  708
  864
  1,039
  1,234
  1,448
  1,682
  1,934
  2,206
  2,495
  2,802
  3,127
  3,468
  3,826
  4,201
  4,592
  5,000
  5,425
  5,867
  6,326
  6,804
Working capital, $m
  5
  -6
  -9
  -13
  -18
  -26
  -35
  -47
  -62
  -79
  -100
  -124
  -151
  -182
  -216
  -254
  -295
  -339
  -386
  -437
  -491
  -548
  -607
  -670
  -736
  -804
  -876
  -950
  -1,027
  -1,108
  -1,192
Total debt, $m
  7
  30
  67
  119
  190
  283
  402
  551
  734
  953
  1,211
  1,509
  1,850
  2,233
  2,659
  3,128
  3,640
  4,192
  4,786
  5,419
  6,091
  6,801
  7,548
  8,331
  9,151
  10,007
  10,900
  11,829
  12,796
  13,802
  14,846
Total liabilities, $m
  47
  70
  107
  159
  230
  323
  442
  591
  774
  993
  1,251
  1,549
  1,890
  2,273
  2,699
  3,168
  3,680
  4,232
  4,826
  5,459
  6,131
  6,841
  7,588
  8,371
  9,191
  10,047
  10,940
  11,869
  12,836
  13,842
  14,886
Total equity, $m
  5
  8
  12
  18
  26
  37
  51
  68
  89
  114
  144
  178
  217
  261
  310
  364
  423
  486
  554
  627
  704
  786
  871
  961
  1,055
  1,154
  1,256
  1,363
  1,474
  1,589
  1,709
Total liabilities and equity, $m
  52
  78
  119
  177
  256
  360
  493
  659
  863
  1,107
  1,395
  1,727
  2,107
  2,534
  3,009
  3,532
  4,103
  4,718
  5,380
  6,086
  6,835
  7,627
  8,459
  9,332
  10,246
  11,201
  12,196
  13,232
  14,310
  15,431
  16,595
Debt-to-equity ratio
  1.400
  3.700
  5.450
  6.520
  7.190
  7.630
  7.920
  8.120
  8.260
  8.360
  8.430
  8.480
  8.520
  8.560
  8.580
  8.600
  8.610
  8.630
  8.640
  8.640
  8.650
  8.660
  8.660
  8.670
  8.670
  8.670
  8.680
  8.680
  8.680
  8.680
  8.690
Adjusted equity ratio
  -0.270
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103
  0.103

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -33
  -288
  -446
  -668
  -968
  -1,364
  -1,871
  -2,506
  -3,284
  -4,218
  -5,317
  -6,590
  -8,044
  -9,681
  -11,502
  -13,507
  -15,693
  -18,058
  -20,598
  -23,307
  -26,183
  -29,222
  -32,421
  -35,776
  -39,288
  -42,955
  -46,778
  -50,759
  -54,901
  -59,207
  -63,683
Depreciation, amort., depletion, $m
  3
  4
  6
  8
  11
  15
  21
  28
  36
  46
  58
  71
  86
  104
  123
  145
  168
  193
  221
  250
  280
  313
  347
  383
  420
  459
  500
  543
  587
  633
  680
Funds from operations, $m
  -20
  -284
  -441
  -660
  -957
  -1,348
  -1,850
  -2,479
  -3,248
  -4,171
  -5,259
  -6,519
  -7,957
  -9,577
  -11,379
  -13,362
  -15,525
  -17,865
  -20,377
  -23,058
  -25,903
  -28,909
  -32,074
  -35,394
  -38,868
  -42,496
  -46,278
  -50,217
  -54,314
  -58,575
  -63,003
Change in working capital, $m
  4
  -2
  -3
  -4
  -6
  -7
  -10
  -12
  -15
  -18
  -21
  -24
  -27
  -31
  -34
  -38
  -41
  -44
  -48
  -51
  -54
  -57
  -60
  -63
  -66
  -69
  -71
  -74
  -77
  -80
  -84
Cash from operations, $m
  -24
  -282
  -438
  -656
  -951
  -1,341
  -1,841
  -2,467
  -3,234
  -4,154
  -5,238
  -6,495
  -7,930
  -9,546
  -11,344
  -13,325
  -15,484
  -17,821
  -20,330
  -23,007
  -25,849
  -28,853
  -32,014
  -35,331
  -38,802
  -42,427
  -46,207
  -50,142
  -54,237
  -58,494
  -62,919
Maintenance CAPEX, $m
  0
  -2
  -3
  -5
  -7
  -11
  -15
  -20
  -27
  -35
  -45
  -57
  -71
  -86
  -104
  -123
  -145
  -168
  -193
  -221
  -250
  -280
  -313
  -347
  -383
  -420
  -459
  -500
  -543
  -587
  -633
New CAPEX, $m
  -3
  -12
  -17
  -24
  -32
  -43
  -55
  -68
  -83
  -100
  -118
  -136
  -156
  -175
  -195
  -214
  -234
  -253
  -271
  -289
  -307
  -324
  -341
  -358
  -375
  -391
  -408
  -425
  -442
  -459
  -478
Cash from investing activities, $m
  -3
  -14
  -20
  -29
  -39
  -54
  -70
  -88
  -110
  -135
  -163
  -193
  -227
  -261
  -299
  -337
  -379
  -421
  -464
  -510
  -557
  -604
  -654
  -705
  -758
  -811
  -867
  -925
  -985
  -1,046
  -1,111
Free cash flow, $m
  -27
  -296
  -458
  -685
  -991
  -1,394
  -1,910
  -2,555
  -3,344
  -4,289
  -5,402
  -6,689
  -8,156
  -9,808
  -11,643
  -13,662
  -15,863
  -18,241
  -20,794
  -23,517
  -26,406
  -29,457
  -32,668
  -36,036
  -39,560
  -43,239
  -47,074
  -51,067
  -55,221
  -59,540
  -64,029
Issuance/(repayment) of debt, $m
  -10
  26
  37
  52
  71
  93
  119
  149
  183
  219
  258
  298
  340
  383
  426
  469
  511
  553
  593
  633
  672
  710
  747
  784
  820
  856
  893
  929
  967
  1,005
  1,045
Issuance/(repurchase) of shares, $m
  12
  291
  451
  674
  976
  1,374
  1,885
  2,524
  3,305
  4,243
  5,347
  6,624
  8,083
  9,725
  11,551
  13,561
  15,752
  18,122
  20,666
  23,380
  26,261
  29,304
  32,506
  35,866
  39,382
  43,053
  46,881
  50,866
  55,012
  59,323
  63,803
Cash from financing (excl. dividends), $m  
  21
  317
  488
  726
  1,047
  1,467
  2,004
  2,673
  3,488
  4,462
  5,605
  6,922
  8,423
  10,108
  11,977
  14,030
  16,263
  18,675
  21,259
  24,013
  26,933
  30,014
  33,253
  36,650
  40,202
  43,909
  47,774
  51,795
  55,979
  60,328
  64,848
Total cash flow (excl. dividends), $m
  -6
  21
  30
  42
  56
  74
  94
  118
  144
  172
  203
  234
  267
  300
  334
  367
  401
  433
  465
  496
  526
  556
  585
  614
  642
  671
  699
  728
  758
  788
  819
Retained Cash Flow (-), $m
  19
  -291
  -451
  -674
  -976
  -1,374
  -1,885
  -2,524
  -3,305
  -4,243
  -5,347
  -6,624
  -8,083
  -9,725
  -11,551
  -13,561
  -15,752
  -18,122
  -20,666
  -23,380
  -26,261
  -29,304
  -32,506
  -35,866
  -39,382
  -43,053
  -46,881
  -50,866
  -55,012
  -59,323
  -63,803
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
 
  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
 
  -270
  -421
  -632
  -920
  -1,301
  -1,791
  -2,406
  -3,161
  -4,070
  -5,144
  -6,390
  -7,816
  -9,424
  -11,217
  -13,193
  -15,352
  -17,689
  -20,201
  -22,884
  -25,734
  -28,747
  -31,921
  -35,252
  -38,740
  -42,382
  -46,181
  -50,138
  -54,255
  -58,535
  -62,984
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
 
  -259
  -385
  -550
  -758
  -1,008
  -1,300
  -1,625
  -1,976
  -2,338
  -2,697
  -3,035
  -3,335
  -3,583
  -3,766
  -3,873
  -3,901
  -3,849
  -3,720
  -3,523
  -3,270
  -2,973
  -2,649
  -2,310
  -1,973
  -1,649
  -1,347
  -1,076
  -839
  -639
  -474
Current shareholders' claim on cash, %
  100
  10.3
  1.1
  0.1
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

FINANCIAL RATIOS  of  Caladrius Biosciences (CLBS)

Valuation Ratios
P/E Ratio -1
Price to Sales 0.9
Price to Book 6.6
Price to Tangible Book
Price to Cash Flow -1.4
Price to Free Cash Flow -1.2
Growth Rates
Sales Growth Rate 59.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 4
Current Ratio 0.2
LT Debt to Equity 60%
Total Debt to Equity 140%
Interest Coverage -16
Management Effectiveness
Return On Assets -56.9%
Ret/ On Assets - 3 Yr. Avg. -64.8%
Return On Total Capital -124.5%
Ret/ On T. Cap. - 3 Yr. Avg. -113.3%
Return On Equity -227.6%
Return On Equity - 3 Yr. Avg. -171%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 11.4%
Gross Margin - 3 Yr. Avg. 10.5%
EBITDA Margin -80%
EBITDA Margin - 3 Yr. Avg. -267.6%
Operating Margin -91.4%
Oper. Margin - 3 Yr. Avg. -310.6%
Pre-Tax Margin -94.3%
Pre-Tax Margin - 3 Yr. Avg. -283.6%
Net Profit Margin -94.3%
Net Profit Margin - 3 Yr. Avg. -256%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 6.4%
Payout Ratio 0%

CLBS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CLBS stock intrinsic value calculation we used $35 million for the last fiscal year's total revenue generated by Caladrius Biosciences. The default revenue input number comes from 2016 income statement of Caladrius Biosciences. 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 CLBS stock valuation model: a) initial revenue growth rate of 59.1% 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 CLBS is calculated based on our internal credit rating of Caladrius Biosciences, 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 Caladrius Biosciences.
    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 CLBS stock the variable cost ratio is equal to 617.1%.

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 CLBS 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 16.7% for Caladrius Biosciences.

Corporate tax rate of 27% is the nominal tax rate for Caladrius Biosciences. 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 CLBS 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 CLBS are equal to 57.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Caladrius Biosciences 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 CLBS is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $5 million for Caladrius Biosciences - 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 8.319 million for Caladrius Biosciences 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 Caladrius Biosciences at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ Caladrius Biosciences Joins Russell Microcap® Index   [Jun-26-17 08:00AM  GlobeNewswire]
▶ Company News for March 20, 2017   [Mar-20-17 10:10AM  Zacks]
▶ Caladrius Biosciences Announces 1-for-10 Reverse Split   [Jul-27-16 09:00AM  GlobeNewswire]
▶ 5 Breakout Stocks Under $10 Set to Soar   [10:49AM  at TheStreet]
Stock chart of CLBS Financial statements of CLBS Annual reports of CLBS
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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