Intrinsic value of Cimpress - CMPR

Previous Close

$88.92

  Intrinsic Value

$145.56

stock screener

  Rating & Target

str. buy

+64%

  Value-price divergence*

+37%

Previous close

$88.92

 
Intrinsic value

$145.56

 
Up/down potential

+64%

 
Rating

str. buy

 
Value-price divergence*

+37%

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

We calculate the intrinsic value of CMPR 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 2.7

 

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, %
  19.68
  26.10
  23.99
  22.09
  20.38
  18.84
  17.46
  16.21
  15.09
  14.08
  13.17
  12.36
  11.62
  10.96
  10.36
  9.83
  9.34
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.68
  6.51
  6.36
  6.23
  6.10
  5.99
Revenue, $m
  1,788
  2,255
  2,796
  3,413
  4,109
  4,883
  5,736
  6,666
  7,671
  8,752
  9,905
  11,129
  12,422
  13,784
  15,212
  16,707
  18,268
  19,896
  21,591
  23,354
  25,187
  27,093
  29,073
  31,130
  33,269
  35,493
  37,805
  40,210
  42,714
  45,322
  48,038
Variable operating expenses, $m
 
  2,098
  2,590
  3,152
  3,785
  4,490
  5,266
  6,112
  7,027
  8,010
  9,059
  10,127
  11,303
  12,542
  13,842
  15,202
  16,623
  18,104
  19,646
  21,251
  22,919
  24,653
  26,454
  28,327
  30,273
  32,296
  34,400
  36,589
  38,867
  41,240
  43,712
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
  1,710
  2,098
  2,590
  3,152
  3,785
  4,490
  5,266
  6,112
  7,027
  8,010
  9,059
  10,127
  11,303
  12,542
  13,842
  15,202
  16,623
  18,104
  19,646
  21,251
  22,919
  24,653
  26,454
  28,327
  30,273
  32,296
  34,400
  36,589
  38,867
  41,240
  43,712
Operating income, $m
  78
  156
  205
  261
  323
  393
  470
  554
  644
  742
  845
  1,002
  1,119
  1,241
  1,370
  1,505
  1,645
  1,792
  1,944
  2,103
  2,268
  2,440
  2,618
  2,804
  2,996
  3,197
  3,405
  3,621
  3,847
  4,082
  4,326
EBITDA, $m
  210
  261
  324
  395
  476
  565
  664
  772
  888
  1,013
  1,147
  1,288
  1,438
  1,596
  1,761
  1,934
  2,115
  2,303
  2,499
  2,703
  2,916
  3,136
  3,366
  3,604
  3,851
  4,109
  4,376
  4,655
  4,945
  5,247
  5,561
Interest expense (income), $m
  38
  43
  61
  81
  105
  131
  160
  192
  228
  266
  306
  350
  396
  445
  496
  550
  607
  666
  727
  791
  858
  927
  999
  1,074
  1,152
  1,232
  1,316
  1,404
  1,495
  1,589
  1,688
Earnings before tax, $m
  66
  113
  144
  179
  219
  262
  310
  361
  417
  476
  539
  652
  723
  796
  874
  954
  1,038
  1,126
  1,217
  1,312
  1,411
  1,513
  1,619
  1,730
  1,845
  1,964
  2,088
  2,218
  2,352
  2,493
  2,639
Tax expense, $m
  16
  31
  39
  48
  59
  71
  84
  98
  113
  129
  146
  176
  195
  215
  236
  258
  280
  304
  329
  354
  381
  408
  437
  467
  498
  530
  564
  599
  635
  673
  712
Net income, $m
  54
  83
  105
  131
  160
  191
  226
  264
  304
  348
  394
  476
  528
  581
  638
  697
  758
  822
  889
  958
  1,030
  1,104
  1,182
  1,263
  1,347
  1,434
  1,524
  1,619
  1,717
  1,820
  1,926

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  85
  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
  1,464
  1,847
  2,290
  2,795
  3,365
  3,999
  4,697
  5,459
  6,283
  7,168
  8,112
  9,115
  10,174
  11,289
  12,459
  13,683
  14,961
  16,295
  17,683
  19,127
  20,628
  22,189
  23,811
  25,496
  27,247
  29,068
  30,962
  32,932
  34,983
  37,119
  39,343
Adjusted assets (=assets-cash), $m
  1,379
  1,847
  2,290
  2,795
  3,365
  3,999
  4,697
  5,459
  6,283
  7,168
  8,112
  9,115
  10,174
  11,289
  12,459
  13,683
  14,961
  16,295
  17,683
  19,127
  20,628
  22,189
  23,811
  25,496
  27,247
  29,068
  30,962
  32,932
  34,983
  37,119
  39,343
Revenue / Adjusted assets
  1.297
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
  1.221
Average production assets, $m
  459
  579
  718
  877
  1,056
  1,255
  1,474
  1,713
  1,972
  2,249
  2,546
  2,860
  3,192
  3,542
  3,909
  4,294
  4,695
  5,113
  5,549
  6,002
  6,473
  6,963
  7,472
  8,001
  8,550
  9,122
  9,716
  10,334
  10,978
  11,648
  12,346
Working capital, $m
  -135
  -225
  -280
  -341
  -411
  -488
  -574
  -667
  -767
  -875
  -990
  -1,113
  -1,242
  -1,378
  -1,521
  -1,671
  -1,827
  -1,990
  -2,159
  -2,335
  -2,519
  -2,709
  -2,907
  -3,113
  -3,327
  -3,549
  -3,780
  -4,021
  -4,271
  -4,532
  -4,804
Total debt, $m
  831
  1,171
  1,564
  2,012
  2,518
  3,080
  3,700
  4,375
  5,106
  5,891
  6,728
  7,618
  8,557
  9,546
  10,584
  11,670
  12,804
  13,986
  15,218
  16,498
  17,830
  19,215
  20,653
  22,148
  23,702
  25,317
  26,996
  28,744
  30,563
  32,457
  34,431
Total liabilities, $m
  1,298
  1,638
  2,031
  2,479
  2,985
  3,547
  4,167
  4,842
  5,573
  6,358
  7,195
  8,085
  9,024
  10,013
  11,051
  12,137
  13,271
  14,453
  15,685
  16,965
  18,297
  19,682
  21,120
  22,615
  24,169
  25,784
  27,463
  29,211
  31,030
  32,924
  34,898
Total equity, $m
  166
  209
  259
  316
  380
  452
  531
  617
  710
  810
  917
  1,030
  1,150
  1,276
  1,408
  1,546
  1,691
  1,841
  1,998
  2,161
  2,331
  2,507
  2,691
  2,881
  3,079
  3,285
  3,499
  3,721
  3,953
  4,194
  4,446
Total liabilities and equity, $m
  1,464
  1,847
  2,290
  2,795
  3,365
  3,999
  4,698
  5,459
  6,283
  7,168
  8,112
  9,115
  10,174
  11,289
  12,459
  13,683
  14,962
  16,294
  17,683
  19,126
  20,628
  22,189
  23,811
  25,496
  27,248
  29,069
  30,962
  32,932
  34,983
  37,118
  39,344
Debt-to-equity ratio
  5.006
  5.610
  6.040
  6.370
  6.620
  6.820
  6.970
  7.090
  7.190
  7.270
  7.340
  7.400
  7.440
  7.480
  7.520
  7.550
  7.570
  7.600
  7.620
  7.630
  7.650
  7.660
  7.680
  7.690
  7.700
  7.710
  7.720
  7.720
  7.730
  7.740
  7.740
Adjusted equity ratio
  0.059
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113
  0.113

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  54
  83
  105
  131
  160
  191
  226
  264
  304
  348
  394
  476
  528
  581
  638
  697
  758
  822
  889
  958
  1,030
  1,104
  1,182
  1,263
  1,347
  1,434
  1,524
  1,619
  1,717
  1,820
  1,926
Depreciation, amort., depletion, $m
  132
  105
  118
  134
  152
  172
  194
  218
  244
  272
  301
  286
  319
  354
  391
  429
  469
  511
  555
  600
  647
  696
  747
  800
  855
  912
  972
  1,033
  1,098
  1,165
  1,235
Funds from operations, $m
  286
  187
  224
  265
  312
  364
  420
  482
  548
  619
  695
  762
  847
  936
  1,029
  1,126
  1,228
  1,333
  1,443
  1,558
  1,677
  1,801
  1,929
  2,063
  2,202
  2,346
  2,496
  2,652
  2,815
  2,984
  3,161
Change in working capital, $m
  39
  -47
  -54
  -62
  -70
  -77
  -85
  -93
  -101
  -108
  -115
  -122
  -129
  -136
  -143
  -149
  -156
  -163
  -169
  -176
  -183
  -191
  -198
  -206
  -214
  -222
  -231
  -241
  -250
  -261
  -272
Cash from operations, $m
  247
  234
  278
  327
  381
  441
  505
  575
  649
  727
  810
  885
  976
  1,072
  1,172
  1,275
  1,384
  1,496
  1,613
  1,734
  1,860
  1,991
  2,127
  2,269
  2,415
  2,568
  2,727
  2,893
  3,065
  3,245
  3,432
Maintenance CAPEX, $m
  0
  -46
  -58
  -72
  -88
  -106
  -125
  -147
  -171
  -197
  -225
  -255
  -286
  -319
  -354
  -391
  -429
  -469
  -511
  -555
  -600
  -647
  -696
  -747
  -800
  -855
  -912
  -972
  -1,033
  -1,098
  -1,165
New CAPEX, $m
  -107
  -120
  -139
  -159
  -179
  -199
  -219
  -239
  -259
  -278
  -296
  -315
  -332
  -350
  -367
  -384
  -401
  -418
  -436
  -453
  -471
  -490
  -509
  -529
  -550
  -571
  -594
  -618
  -643
  -670
  -698
Cash from investing activities, $m
  -266
  -166
  -197
  -231
  -267
  -305
  -344
  -386
  -430
  -475
  -521
  -570
  -618
  -669
  -721
  -775
  -830
  -887
  -947
  -1,008
  -1,071
  -1,137
  -1,205
  -1,276
  -1,350
  -1,426
  -1,506
  -1,590
  -1,676
  -1,768
  -1,863
Free cash flow, $m
  -19
  68
  81
  97
  115
  136
  161
  188
  219
  252
  289
  316
  358
  403
  450
  500
  553
  608
  666
  726
  789
  854
  922
  993
  1,066
  1,142
  1,221
  1,303
  1,388
  1,477
  1,570
Issuance/(repayment) of debt, $m
  153
  340
  393
  449
  505
  562
  619
  676
  731
  785
  838
  889
  940
  989
  1,038
  1,086
  1,134
  1,182
  1,231
  1,281
  1,332
  1,384
  1,438
  1,495
  1,554
  1,615
  1,680
  1,748
  1,819
  1,894
  1,973
Issuance/(repurchase) of shares, $m
  -149
  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  
  -5
  340
  393
  449
  505
  562
  619
  676
  731
  785
  838
  889
  940
  989
  1,038
  1,086
  1,134
  1,182
  1,231
  1,281
  1,332
  1,384
  1,438
  1,495
  1,554
  1,615
  1,680
  1,748
  1,819
  1,894
  1,973
Total cash flow (excl. dividends), $m
  -26
  407
  474
  545
  620
  699
  780
  864
  950
  1,037
  1,126
  1,205
  1,297
  1,392
  1,488
  1,586
  1,687
  1,791
  1,897
  2,007
  2,121
  2,238
  2,361
  2,487
  2,619
  2,757
  2,901
  3,051
  3,207
  3,371
  3,543
Retained Cash Flow (-), $m
  83
  -43
  -50
  -57
  -64
  -72
  -79
  -86
  -93
  -100
  -107
  -113
  -120
  -126
  -132
  -138
  -144
  -151
  -157
  -163
  -170
  -176
  -183
  -190
  -198
  -206
  -214
  -223
  -232
  -241
  -251
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
 
  365
  424
  488
  556
  627
  701
  778
  856
  937
  1,020
  1,091
  1,178
  1,266
  1,356
  1,448
  1,543
  1,640
  1,740
  1,844
  1,951
  2,062
  2,177
  2,297
  2,421
  2,551
  2,687
  2,828
  2,976
  3,130
  3,292
Discount rate, %
 
  9.50
  9.98
  10.47
  11.00
  11.55
  12.12
  12.73
  13.37
  14.04
  14.74
  15.47
  16.25
  17.06
  17.91
  18.81
  19.75
  20.74
  21.77
  22.86
  24.01
  25.21
  26.47
  27.79
  29.18
  30.64
  32.17
  33.78
  35.47
  37.24
  39.10
PV of cash for distribution, $m
 
  333
  350
  362
  366
  363
  353
  336
  314
  287
  258
  224
  193
  163
  135
  109
  86
  67
  50
  37
  26
  18
  12
  8
  5
  3
  2
  1
  1
  0
  0
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

Cimpress N.V., a technology company, aggregates small and individually customized orders print, signage, apparel, and other products in North America, Europe, Australia, New Zealand, and internationally. The company operates through three segments: Vistaprint Business Unit, Upload and Print Business Units, and All Other Business Units. It offers business cards, flyers, leaflets, inserts, brochures, and magazines; banners, signs, tradeshow displays, and point-of-sale displays; promotional products; apparel and gifts, including decorated apparel, bags, and textiles, as well as hard goods consisting of pens, USB sticks, and drinkware; and packaging products comprising corrugated board packaging, folded cartons, and labels. The company also provides digital, Website design and hosting, and email marketing services, as well as order referral fees and third-party offerings. It serves micro, small, and medium sized businesses; graphic designers, resellers, and print providers; teams, associations, and groups; and consumers. The company was formerly known as Vistaprint N.V and changed its name to Cimpress N.V. in November 2014. Cimpress N.V. was incorporated in 2009 and is based in Venlo, the Netherlands.

FINANCIAL RATIOS  of  Cimpress (CMPR)

Valuation Ratios
P/E Ratio 51.9
Price to Sales 1.6
Price to Book 16.9
Price to Tangible Book
Price to Cash Flow 11.4
Price to Free Cash Flow 20
Growth Rates
Sales Growth Rate 19.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15.1%
Cap. Spend. - 3 Yr. Gr. Rate 4.2%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 475.3%
Total Debt to Equity 500.6%
Interest Coverage 3
Management Effectiveness
Return On Assets 6%
Ret/ On Assets - 3 Yr. Avg. 7%
Return On Total Capital 5.7%
Ret/ On T. Cap. - 3 Yr. Avg. 8.4%
Return On Equity 26%
Return On Equity - 3 Yr. Avg. 28.4%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 56.7%
Gross Margin - 3 Yr. Avg. 61%
EBITDA Margin 13.2%
EBITDA Margin - 3 Yr. Avg. 12.6%
Operating Margin 4.4%
Oper. Margin - 3 Yr. Avg. 5.9%
Pre-Tax Margin 3.7%
Pre-Tax Margin - 3 Yr. Avg. 5%
Net Profit Margin 3%
Net Profit Margin - 3 Yr. Avg. 4.2%
Effective Tax Rate 24.2%
Eff/ Tax Rate - 3 Yr. Avg. 18.2%
Payout Ratio 0%

CMPR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CMPR stock intrinsic value calculation we used $1788 million for the last fiscal year's total revenue generated by Cimpress. The default revenue input number comes from 2016 income statement of Cimpress. 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 CMPR stock valuation model: a) initial revenue growth rate of 26.1% 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 9.5%, whose default value for CMPR is calculated based on our internal credit rating of Cimpress, 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 Cimpress.
    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 CMPR stock the variable cost ratio is equal to 93.6%.

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 CMPR 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 5.2% for Cimpress.

Corporate tax rate of 27% is the nominal tax rate for Cimpress. 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 CMPR 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 CMPR are equal to 25.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Cimpress 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 CMPR 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 - $166 million for Cimpress - 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 30.681 million for Cimpress 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 Cimpress at the current share price and the inputted number of shares is $2.7 billion.

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COMPANY NEWS

▶ Cimpress NV Value Analysis (NASDAQ:CMPR) : August 8, 2017   [Aug-08-17 05:42PM  Capital Cube]
▶ Cimpress N.V. Finishes an "Important" Year   [Jul-28-17 07:30AM  Motley Fool]
▶ Vistaprint Launches New Monthly Subscription Box   [Jul-20-17 01:31PM  Business Wire]
▶ Cimpress to Host Annual Investor Day on August 8, 2017   [Jul-19-17 08:30AM  Business Wire]
▶ Vistaprint Opens First Brick and Mortar Retail Space   [Jun-13-17 02:40PM  Business Wire]
▶ Vistaprint planning a 125-person Rhode Island sales office   [May-17-17 03:27PM  Associated Press]
▶ ETFs with exposure to Cimpress NV : May 5, 2017   [May-05-17 03:58PM  Capital Cube]
▶ Cimpress N.V. Keeps Moving Forward   [03:37PM  Motley Fool]
▶ Cimpress NV Value Analysis (NASDAQ:CMPR) : May 2, 2017   [May-02-17 05:09PM  Capital Cube]
▶ New Strong Sell Stocks for April 27th   [Apr-27-17 08:52AM  Zacks]
▶ Cimpress reports 3Q loss   [Apr-26-17 05:08PM  Associated Press]
▶ ETFs with exposure to Cimpress NV : February 2, 2017   [Feb-02-17 12:44PM  Capital Cube]
▶ Why Cimpress NV Stock Plunged Today   [12:28PM  Motley Fool]
▶ Why Cimpress NV Stock Plunged Today   [12:28PM  at Motley Fool]
▶ Why Cimpress N.V. Stock Jumped 14.5% in 2016   [Jan-07-17 05:28PM  at Motley Fool]
▶ How Cimpress NV (CMPR) Stacks Up Against Its Peers   [Dec-03-16 07:53PM  at Insider Monkey]
▶ Should You Avoid Owens-Illinois Inc (OI)?   [Nov-28-16 06:24AM  at Insider Monkey]
▶ Cimpress NV Stays the Course as Profits Disappear   [Oct-27-16 06:30PM  at Motley Fool]
▶ Why Cimpress NV Stock Fell Today   [01:51PM  at Motley Fool]
Stock chart of CMPR Financial statements of CMPR
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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