Intrinsic value of CoreLogic - CLGX

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$43.80

  Intrinsic Value

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  Value-price divergence*

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

We calculate the intrinsic value of CLGX 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 3.8

 

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, %
  27.81
  21.50
  19.85
  18.37
  17.03
  15.83
  14.74
  13.77
  12.89
  12.10
  11.39
  10.75
  10.18
  9.66
  9.19
  8.77
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.62
  6.46
  6.32
  6.18
  6.07
  5.96
  5.86
  5.78
Revenue, $m
  1,953
  2,373
  2,844
  3,366
  3,939
  4,563
  5,236
  5,956
  6,724
  7,538
  8,397
  9,300
  10,246
  11,236
  12,269
  13,346
  14,467
  15,632
  16,844
  18,103
  19,412
  20,772
  22,186
  23,655
  25,184
  26,775
  28,431
  30,155
  31,952
  33,826
  35,780
Variable operating expenses, $m
 
  2,012
  2,370
  2,766
  3,201
  3,674
  4,185
  4,732
  5,315
  5,933
  6,585
  7,060
  7,778
  8,530
  9,314
  10,131
  10,982
  11,867
  12,786
  13,742
  14,736
  15,768
  16,841
  17,957
  19,118
  20,325
  21,582
  22,891
  24,255
  25,678
  27,161
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
  1,728
  2,012
  2,370
  2,766
  3,201
  3,674
  4,185
  4,732
  5,315
  5,933
  6,585
  7,060
  7,778
  8,530
  9,314
  10,131
  10,982
  11,867
  12,786
  13,742
  14,736
  15,768
  16,841
  17,957
  19,118
  20,325
  21,582
  22,891
  24,255
  25,678
  27,161
Operating income, $m
  225
  361
  474
  600
  738
  888
  1,050
  1,224
  1,409
  1,605
  1,812
  2,240
  2,468
  2,707
  2,955
  3,215
  3,485
  3,766
  4,057
  4,361
  4,676
  5,004
  5,344
  5,698
  6,066
  6,450
  6,849
  7,264
  7,697
  8,148
  8,619
EBITDA, $m
  398
  649
  778
  920
  1,077
  1,248
  1,431
  1,629
  1,839
  2,061
  2,296
  2,543
  2,801
  3,072
  3,355
  3,649
  3,955
  4,274
  4,605
  4,950
  5,307
  5,679
  6,066
  6,468
  6,886
  7,321
  7,773
  8,245
  8,736
  9,248
  9,783
Interest expense (income), $m
  59
  61
  86
  113
  143
  177
  213
  252
  294
  338
  386
  436
  488
  543
  600
  660
  723
  788
  856
  926
  999
  1,075
  1,154
  1,236
  1,322
  1,410
  1,503
  1,599
  1,699
  1,803
  1,912
Earnings before tax, $m
  164
  300
  389
  487
  595
  712
  838
  972
  1,115
  1,267
  1,426
  1,805
  1,980
  2,164
  2,355
  2,554
  2,762
  2,978
  3,202
  3,435
  3,677
  3,928
  4,190
  4,462
  4,745
  5,039
  5,346
  5,665
  5,998
  6,345
  6,707
Tax expense, $m
  55
  81
  105
  132
  161
  192
  226
  262
  301
  342
  385
  487
  535
  584
  636
  690
  746
  804
  864
  927
  993
  1,061
  1,131
  1,205
  1,281
  1,361
  1,443
  1,530
  1,619
  1,713
  1,811
Net income, $m
  107
  219
  284
  356
  434
  520
  611
  710
  814
  925
  1,041
  1,317
  1,446
  1,580
  1,719
  1,865
  2,016
  2,174
  2,337
  2,507
  2,684
  2,868
  3,059
  3,257
  3,464
  3,679
  3,902
  4,135
  4,378
  4,632
  4,896

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  72
  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
  3,908
  4,662
  5,587
  6,613
  7,740
  8,964
  10,286
  11,702
  13,211
  14,810
  16,497
  18,271
  20,130
  22,075
  24,105
  26,220
  28,421
  30,712
  33,092
  35,566
  38,137
  40,809
  43,587
  46,474
  49,478
  52,603
  55,856
  59,244
  62,775
  66,455
  70,295
Adjusted assets (=assets-cash), $m
  3,836
  4,662
  5,587
  6,613
  7,740
  8,964
  10,286
  11,702
  13,211
  14,810
  16,497
  18,271
  20,130
  22,075
  24,105
  26,220
  28,421
  30,712
  33,092
  35,566
  38,137
  40,809
  43,587
  46,474
  49,478
  52,603
  55,856
  59,244
  62,775
  66,455
  70,295
Revenue / Adjusted assets
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
  0.509
Average production assets, $m
  1,156
  1,405
  1,684
  1,993
  2,332
  2,701
  3,099
  3,526
  3,981
  4,463
  4,971
  5,506
  6,066
  6,652
  7,263
  7,901
  8,564
  9,254
  9,972
  10,717
  11,492
  12,297
  13,134
  14,004
  14,909
  15,851
  16,831
  17,852
  18,916
  20,025
  21,182
Working capital, $m
  -276
  -294
  -353
  -417
  -488
  -566
  -649
  -739
  -834
  -935
  -1,041
  -1,153
  -1,271
  -1,393
  -1,521
  -1,655
  -1,794
  -1,938
  -2,089
  -2,245
  -2,407
  -2,576
  -2,751
  -2,933
  -3,123
  -3,320
  -3,525
  -3,739
  -3,962
  -4,194
  -4,437
Total debt, $m
  1,602
  2,142
  2,826
  3,584
  4,417
  5,322
  6,298
  7,345
  8,460
  9,641
  10,888
  12,199
  13,573
  15,010
  16,510
  18,073
  19,700
  21,393
  23,152
  24,981
  26,881
  28,855
  30,908
  33,041
  35,261
  37,570
  39,974
  42,478
  45,087
  47,808
  50,645
Total liabilities, $m
  2,905
  3,445
  4,129
  4,887
  5,720
  6,625
  7,601
  8,648
  9,763
  10,944
  12,191
  13,502
  14,876
  16,313
  17,813
  19,376
  21,003
  22,696
  24,455
  26,284
  28,184
  30,158
  32,211
  34,344
  36,564
  38,873
  41,277
  43,781
  46,390
  49,111
  51,948
Total equity, $m
  1,003
  1,217
  1,458
  1,726
  2,020
  2,340
  2,685
  3,054
  3,448
  3,865
  4,306
  4,769
  5,254
  5,762
  6,291
  6,843
  7,418
  8,016
  8,637
  9,283
  9,954
  10,651
  11,376
  12,130
  12,914
  13,729
  14,578
  15,463
  16,384
  17,345
  18,347
Total liabilities and equity, $m
  3,908
  4,662
  5,587
  6,613
  7,740
  8,965
  10,286
  11,702
  13,211
  14,809
  16,497
  18,271
  20,130
  22,075
  24,104
  26,219
  28,421
  30,712
  33,092
  35,567
  38,138
  40,809
  43,587
  46,474
  49,478
  52,602
  55,855
  59,244
  62,774
  66,456
  70,295
Debt-to-equity ratio
  1.597
  1.760
  1.940
  2.080
  2.190
  2.270
  2.350
  2.400
  2.450
  2.490
  2.530
  2.560
  2.580
  2.610
  2.620
  2.640
  2.660
  2.670
  2.680
  2.690
  2.700
  2.710
  2.720
  2.720
  2.730
  2.740
  2.740
  2.750
  2.750
  2.760
  2.760
Adjusted equity ratio
  0.243
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261
  0.261

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  107
  219
  284
  356
  434
  520
  611
  710
  814
  925
  1,041
  1,317
  1,446
  1,580
  1,719
  1,865
  2,016
  2,174
  2,337
  2,507
  2,684
  2,868
  3,059
  3,257
  3,464
  3,679
  3,902
  4,135
  4,378
  4,632
  4,896
Depreciation, amort., depletion, $m
  173
  288
  303
  320
  339
  359
  381
  404
  429
  456
  484
  303
  333
  365
  399
  434
  471
  508
  548
  589
  631
  676
  722
  769
  819
  871
  925
  981
  1,039
  1,100
  1,164
Funds from operations, $m
  413
  507
  587
  676
  773
  879
  992
  1,114
  1,244
  1,381
  1,525
  1,620
  1,779
  1,945
  2,118
  2,299
  2,487
  2,682
  2,885
  3,096
  3,316
  3,543
  3,780
  4,027
  4,283
  4,550
  4,827
  5,116
  5,418
  5,732
  6,060
Change in working capital, $m
  -1
  -52
  -58
  -65
  -71
  -77
  -83
  -89
  -95
  -101
  -106
  -112
  -117
  -123
  -128
  -133
  -139
  -145
  -150
  -156
  -162
  -169
  -175
  -182
  -190
  -197
  -205
  -214
  -223
  -232
  -242
Cash from operations, $m
  414
  659
  645
  741
  844
  956
  1,076
  1,204
  1,339
  1,482
  1,632
  1,732
  1,896
  2,068
  2,246
  2,432
  2,626
  2,827
  3,035
  3,252
  3,478
  3,712
  3,956
  4,209
  4,472
  4,747
  5,032
  5,330
  5,640
  5,964
  6,302
Maintenance CAPEX, $m
  0
  -63
  -77
  -93
  -109
  -128
  -148
  -170
  -194
  -219
  -245
  -273
  -303
  -333
  -365
  -399
  -434
  -471
  -508
  -548
  -589
  -631
  -676
  -722
  -769
  -819
  -871
  -925
  -981
  -1,039
  -1,100
New CAPEX, $m
  -81
  -249
  -279
  -309
  -339
  -369
  -398
  -427
  -455
  -482
  -508
  -535
  -560
  -586
  -612
  -637
  -663
  -690
  -717
  -746
  -775
  -805
  -837
  -870
  -905
  -942
  -980
  -1,021
  -1,064
  -1,109
  -1,157
Cash from investing activities, $m
  -482
  -312
  -356
  -402
  -448
  -497
  -546
  -597
  -649
  -701
  -753
  -808
  -863
  -919
  -977
  -1,036
  -1,097
  -1,161
  -1,225
  -1,294
  -1,364
  -1,436
  -1,513
  -1,592
  -1,674
  -1,761
  -1,851
  -1,946
  -2,045
  -2,148
  -2,257
Free cash flow, $m
  -68
  346
  289
  339
  395
  459
  529
  606
  690
  781
  878
  924
  1,033
  1,148
  1,269
  1,396
  1,528
  1,666
  1,810
  1,959
  2,114
  2,276
  2,443
  2,617
  2,798
  2,986
  3,181
  3,384
  3,596
  3,816
  4,045
Issuance/(repayment) of debt, $m
  236
  612
  684
  758
  832
  905
  977
  1,047
  1,115
  1,182
  1,247
  1,311
  1,374
  1,437
  1,500
  1,563
  1,627
  1,692
  1,759
  1,828
  1,900
  1,975
  2,052
  2,134
  2,219
  2,309
  2,404
  2,504
  2,609
  2,720
  2,837
Issuance/(repurchase) of shares, $m
  -180
  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  
  41
  612
  684
  758
  832
  905
  977
  1,047
  1,115
  1,182
  1,247
  1,311
  1,374
  1,437
  1,500
  1,563
  1,627
  1,692
  1,759
  1,828
  1,900
  1,975
  2,052
  2,134
  2,219
  2,309
  2,404
  2,504
  2,609
  2,720
  2,837
Total cash flow (excl. dividends), $m
  -27
  959
  973
  1,097
  1,228
  1,364
  1,506
  1,653
  1,805
  1,963
  2,125
  2,235
  2,408
  2,586
  2,769
  2,959
  3,155
  3,358
  3,569
  3,787
  4,014
  4,250
  4,495
  4,751
  5,017
  5,295
  5,585
  5,888
  6,205
  6,536
  6,882
Retained Cash Flow (-), $m
  46
  -214
  -242
  -268
  -294
  -320
  -345
  -370
  -394
  -417
  -440
  -463
  -485
  -508
  -530
  -552
  -575
  -598
  -621
  -646
  -671
  -697
  -725
  -754
  -784
  -816
  -849
  -884
  -921
  -961
  -1,002
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
 
  745
  732
  829
  934
  1,044
  1,161
  1,283
  1,412
  1,545
  1,684
  1,772
  1,922
  2,078
  2,239
  2,407
  2,581
  2,761
  2,948
  3,142
  3,343
  3,553
  3,771
  3,997
  4,234
  4,480
  4,736
  5,004
  5,283
  5,575
  5,880
Discount rate, %
 
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
 
  689
  621
  642
  652
  653
  643
  624
  595
  559
  516
  453
  405
  356
  306
  259
  214
  173
  137
  107
  81
  60
  43
  30
  20
  14
  9
  5
  3
  2
  1
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

CoreLogic, Inc. provides property information, analytics, and data-enabled services in North America, Western Europe, and the Asia Pacific. The company’s Property Intelligence segment owns or licenses loan information, property sales and characteristic information, property risk and replacement cost, natural hazard data, geospatial data, parcel maps, and mortgage-backed securities information. This segment’s products and services include data licensing and analytics, data-enabled advisory services, platform solutions, and valuation solutions. This segment delivers information directly to clients in a standard format over the Web, through customizable software platforms, or in bulk data form. CoreLogic, Inc.’s Risk Management and Work Flow segment owns or licenses loan information, property sales and characteristic information, natural hazard data, parcel maps, employment verification, criminal records, and eviction records. It offers credit and screening solutions, which provide comprehensive data about credit history, income verification, home address history, evictions, criminal records, and additional proprietary sources; and property tax processing solutions to advise mortgage originators and servicers. This segment also provides flood data services, such as flood zone determinations primarily to mortgage lenders; and software and workflow platforms to the financial services market through a suite of enterprise lending automation services. The company provides its services to mortgage lenders, brokers, credit unions, commercial banks, investment banks, fixed-income investors, real estate agents, MLS companies, property and casualty insurance companies, government agencies, and government-sponsored enterprises. The company was formerly known as The First American Corporation and changed its name to CoreLogic, Inc. in June 2010. CoreLogic, Inc. was incorporated in 1894 and is headquartered in Irvine, California.

FINANCIAL RATIOS  of  CoreLogic (CLGX)

Valuation Ratios
P/E Ratio 34.5
Price to Sales 1.9
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 8.9
Price to Free Cash Flow 11.1
Growth Rates
Sales Growth Rate 27.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -5.4%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 149.3%
Total Debt to Equity 159.7%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.9%
Ret/ On Assets - 3 Yr. Avg. 4.1%
Return On Total Capital 4.3%
Ret/ On T. Cap. - 3 Yr. Avg. 4.4%
Return On Equity 10.4%
Return On Equity - 3 Yr. Avg. 10%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 46.5%
Gross Margin - 3 Yr. Avg. 47.7%
EBITDA Margin 20.3%
EBITDA Margin - 3 Yr. Avg. 22.6%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 12.3%
Pre-Tax Margin 8.4%
Pre-Tax Margin - 3 Yr. Avg. 9.1%
Net Profit Margin 5.5%
Net Profit Margin - 3 Yr. Avg. 6.4%
Effective Tax Rate 33.5%
Eff/ Tax Rate - 3 Yr. Avg. 31.5%
Payout Ratio 0%

CLGX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CLGX stock intrinsic value calculation we used $1953 million for the last fiscal year's total revenue generated by CoreLogic. The default revenue input number comes from 2016 income statement of CoreLogic. 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 CLGX stock valuation model: a) initial revenue growth rate of 21.5% 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 8.1%, whose default value for CLGX is calculated based on our internal credit rating of CoreLogic, 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 CoreLogic.
    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 CLGX stock the variable cost ratio is equal to 86.7%.

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 CLGX 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 4% for CoreLogic.

Corporate tax rate of 27% is the nominal tax rate for CoreLogic. 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 CLGX 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 CLGX are equal to 59.2%.

Life of production assets of 18.2 years is the average useful life of capital assets used in CoreLogic 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 CLGX is equal to -12.4%. 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 - $1003 million for CoreLogic - 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 85.986 million for CoreLogic 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 CoreLogic at the current share price and the inputted number of shares is $3.8 billion.


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COMPANY NEWS

▶ CoreLogic to Announce Second Quarter 2017 Financial Results   [Jun-21-17 08:03AM  Business Wire]
▶ CoreLogic Reports Mortgage Credit Risk Edges Up Slightly   [Jun-20-17 08:03AM  Business Wire]
▶ Foreclosure, Delinquency Data Tumble to 10-Year Low   [Jun-14-17 08:45AM  24/7 Wall St.]
▶ Negative home equity on the decline in metro Orlando   [Jun-08-17 04:21PM  American City Business Journals]
▶ Nearly 785,000 South Florida homes at risk for storm surge, CoreLogic says   [Jun-07-17 03:10PM  American City Business Journals]
▶ Home prices in metro Orlando growing faster than national average   [Jun-06-17 03:26PM  American City Business Journals]
▶ CoreLogic to Acquire Mercury Network   [09:27AM  Business Wire]
▶ Nearly 460,000 Tampa Bay area homes at risk for storm surge, report says   [Jun-05-17 08:05AM  American City Business Journals]
▶ ETFs with exposure to CoreLogic, Inc. : May 1, 2017   [May-01-17 03:48PM  Capital Cube]
▶ CoreLogic misses Street 1Q forecasts   [Apr-25-17 05:36PM  Associated Press]
▶ CoreLogic to Announce First Quarter 2017 Financial Results   [Mar-27-17 04:15PM  Business Wire]
▶ Here's how Orlando-area cash sales are doing   [Mar-26-17 11:30AM  at bizjournals.com]
▶ Here's how Orlando-area cash sales are doing   [11:30AM  American City Business Journals]
▶ Fewer Orlando-area homeowners had underwater mortgages in Q4   [Mar-09-17 03:00PM  at bizjournals.com]
▶ Fewer Orlando-area homeowners had underwater mortgages in Q4   [03:00PM  American City Business Journals]
▶ CoreLogic CEO dies 'unexpectedly' at age 55   [Mar-03-17 06:55PM  at bizjournals.com]
▶ Pace slows for Denver home-resale price gains   [Dec-27-16 10:20AM  at bizjournals.com]
▶ CoreLogic Completes 2016 Repurchase Program   [Dec-15-16 09:00AM  PR Newswire]
▶ Orlando-area home prices rise, projected to continue to climb   [Dec-07-16 04:00PM  at bizjournals.com]
▶ US home prices hit new peak in September, up 5.5%   [Nov-29-16 09:00AM  at CNBC]
▶ Hedge Funds Are Souring On Corelogic Inc (CLGX)   [Nov-28-16 01:15PM  at Insider Monkey]
▶ Housing market holds firm   [Nov-20-16 10:22PM  AAP]
▶ Housing prices rise for 4th week in a row   [Nov-13-16 08:20PM  AAP]
▶ ABQ foreclosure rate lowest since 2009   [Nov-04-16 05:00PM  at bizjournals.com]
▶ Home prices rise 0.3% in October   [Oct-27-16 08:37PM  AAP]
Stock chart of CLGX Financial statements of CLGX Annual reports of CLGX
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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