Intrinsic value of Consumer Portfolio Services - CPSS

Previous Close

$3.95

  Intrinsic Value

$15.81

stock screener

  Rating & Target

str. buy

+300%

  Value-price divergence*

0%

Previous close

$3.95

 
Intrinsic value

$15.81

 
Up/down potential

+300%

 
Rating

str. buy

 
Value-price divergence*

0%

Our model is not good at valuating stocks of financial companies, such as CPSS.

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

We calculate the intrinsic value of CPSS 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 0.1

 

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, %
  15.93
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  422
  451
  481
  513
  546
  580
  615
  652
  691
  731
  773
  817
  862
  910
  960
  1,012
  1,067
  1,124
  1,183
  1,246
  1,311
  1,380
  1,452
  1,527
  1,606
  1,689
  1,776
  1,867
  1,962
  2,062
  2,167
Variable operating expenses, $m
 
  374
  399
  425
  452
  481
  510
  541
  573
  606
  641
  677
  715
  754
  796
  839
  884
  932
  981
  1,033
  1,087
  1,144
  1,204
  1,266
  1,332
  1,400
  1,472
  1,547
  1,627
  1,710
  1,797
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
  373
  374
  399
  425
  452
  481
  510
  541
  573
  606
  641
  677
  715
  754
  796
  839
  884
  932
  981
  1,033
  1,087
  1,144
  1,204
  1,266
  1,332
  1,400
  1,472
  1,547
  1,627
  1,710
  1,797
Operating income, $m
  50
  77
  82
  88
  93
  99
  105
  112
  118
  125
  132
  140
  147
  156
  164
  173
  182
  192
  202
  213
  224
  236
  248
  261
  275
  289
  304
  319
  336
  353
  371
EBITDA, $m
  51
  77
  82
  88
  93
  99
  105
  112
  118
  125
  132
  140
  148
  156
  164
  173
  183
  192
  203
  213
  225
  236
  249
  261
  275
  289
  304
  320
  336
  353
  371
Interest expense (income), $m
  71
  77
  80
  86
  91
  97
  103
  110
  117
  123
  131
  138
  146
  154
  163
  172
  181
  191
  201
  212
  223
  235
  248
  260
  274
  288
  303
  319
  335
  352
  370
Earnings before tax, $m
  50
  0
  2
  2
  2
  2
  2
  2
  2
  2
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  0
  0
  0
  0
Tax expense, $m
  21
  0
  1
  1
  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
Net income, $m
  29
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  14
  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
  2,410
  2,578
  2,751
  2,931
  3,118
  3,313
  3,515
  3,727
  3,947
  4,176
  4,416
  4,666
  4,927
  5,200
  5,485
  5,783
  6,095
  6,421
  6,763
  7,120
  7,494
  7,886
  8,297
  8,727
  9,178
  9,651
  10,147
  10,667
  11,212
  11,784
  12,383
Adjusted assets (=assets-cash), $m
  2,396
  2,578
  2,751
  2,931
  3,118
  3,313
  3,515
  3,727
  3,947
  4,176
  4,416
  4,666
  4,927
  5,200
  5,485
  5,783
  6,095
  6,421
  6,763
  7,120
  7,494
  7,886
  8,297
  8,727
  9,178
  9,651
  10,147
  10,667
  11,212
  11,784
  12,383
Revenue / Adjusted assets
  0.176
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
  0.175
Average production assets, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
Working capital, $m
  0
  95
  102
  108
  115
  122
  130
  138
  146
  154
  163
  172
  182
  192
  203
  214
  225
  237
  250
  263
  277
  291
  306
  322
  339
  356
  375
  394
  414
  435
  457
Total debt, $m
  2,199
  2,295
  2,451
  2,613
  2,781
  2,956
  3,139
  3,329
  3,527
  3,734
  3,949
  4,174
  4,409
  4,655
  4,912
  5,180
  5,460
  5,754
  6,061
  6,383
  6,720
  7,073
  7,442
  7,830
  8,236
  8,661
  9,107
  9,575
  10,066
  10,580
  11,120
Total liabilities, $m
  2,224
  2,320
  2,476
  2,638
  2,806
  2,981
  3,164
  3,354
  3,552
  3,759
  3,974
  4,199
  4,434
  4,680
  4,937
  5,205
  5,485
  5,779
  6,086
  6,408
  6,745
  7,098
  7,467
  7,855
  8,261
  8,686
  9,132
  9,600
  10,091
  10,605
  11,145
Total equity, $m
  186
  258
  275
  293
  312
  331
  352
  373
  395
  418
  442
  467
  493
  520
  549
  578
  609
  642
  676
  712
  749
  789
  830
  873
  918
  965
  1,015
  1,067
  1,121
  1,178
  1,238
Total liabilities and equity, $m
  2,410
  2,578
  2,751
  2,931
  3,118
  3,312
  3,516
  3,727
  3,947
  4,177
  4,416
  4,666
  4,927
  5,200
  5,486
  5,783
  6,094
  6,421
  6,762
  7,120
  7,494
  7,887
  8,297
  8,728
  9,179
  9,651
  10,147
  10,667
  11,212
  11,783
  12,383
Debt-to-equity ratio
  11.823
  8.900
  8.910
  8.910
  8.920
  8.920
  8.930
  8.930
  8.940
  8.940
  8.940
  8.950
  8.950
  8.950
  8.950
  8.960
  8.960
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
Adjusted equity ratio
  0.078
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  29
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
Depreciation, amort., depletion, $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
Funds from operations, $m
  173
  0
  2
  2
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Change in working capital, $m
  -23
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  17
  17
  18
  19
  20
  21
  22
Cash from operations, $m
  196
  -6
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -22
Maintenance CAPEX, $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
New CAPEX, $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
Cash from investing activities, $m
  -445
  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
Free cash flow, $m
  -249
  -6
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
Issuance/(repayment) of debt, $m
  262
  96
  156
  162
  168
  175
  183
  190
  198
  207
  216
  225
  235
  246
  257
  268
  281
  294
  307
  322
  337
  353
  370
  387
  406
  426
  446
  468
  491
  515
  540
Issuance/(repurchase) of shares, $m
  -10
  72
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  30
  32
  33
  35
  37
  39
  41
  43
  45
  47
  49
  52
  54
  57
  60
Cash from financing (excl. dividends), $m  
  243
  168
  172
  179
  185
  193
  202
  210
  219
  229
  239
  249
  260
  272
  285
  297
  311
  326
  340
  357
  374
  392
  411
  430
  451
  473
  495
  520
  545
  572
  600
Total cash flow (excl. dividends), $m
  -5
  162
  167
  173
  180
  188
  195
  203
  212
  221
  231
  241
  251
  263
  274
  287
  300
  314
  329
  344
  360
  377
  395
  414
  434
  455
  477
  500
  525
  550
  577
Retained Cash Flow (-), $m
  -25
  -72
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -57
  -60
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
 
  90
  149
  155
  161
  168
  175
  182
  190
  198
  207
  216
  225
  235
  246
  257
  269
  281
  295
  308
  323
  338
  354
  371
  389
  408
  428
  448
  470
  493
  517
Discount rate, %
 
  13.50
  14.18
  14.88
  15.63
  16.41
  17.23
  18.09
  19.00
  19.95
  20.94
  21.99
  23.09
  24.24
  25.46
  26.73
  28.07
  29.47
  30.94
  32.49
  34.11
  35.82
  37.61
  39.49
  41.47
  43.54
  45.72
  48.00
  50.40
  52.92
  55.57
PV of cash for distribution, $m
 
  79
  114
  102
  90
  79
  67
  57
  47
  39
  31
  24
  19
  14
  10
  7
  5
  3
  2
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  64.5
  59.3
  54.6
  50.3
  46.5
  42.9
  39.7
  36.8
  34.1
  31.6
  29.3
  27.2
  25.3
  23.5
  21.9
  20.3
  18.9
  17.6
  16.4
  15.3
  14.2
  13.3
  12.4
  11.5
  10.7
  10.0
  9.3
  8.7
  8.1
  7.6

Consumer Portfolio Services, Inc. operates as a specialty finance company in the United States. The company purchases and services retail automobile contracts originated by franchised automobile dealers and select independent dealers in the sale of new and used automobiles, light trucks, and passenger vans. The company, through its automobile contract purchases, offers indirect financing to the customers of dealers with limited credit histories, low incomes, or past credit problems. It serves as an alternative source of financing for dealers, facilitating sales to customers who might not be able to obtain financing from commercial banks, credit unions, and the captive finance companies. The company also purchases vehicle purchase money loans from non-affiliated lenders; directly originates vehicle purchase money loans by lending money directly to consumers; and directly originates loans secured by automobiles that are owned by consumers. It services its automobile contracts through its branches in California, Nevada, Virginia, Florida, and Illinois. Consumer Portfolio Services, Inc. was founded in 1991 and is headquartered in Irvine, California.

FINANCIAL RATIOS  of  Consumer Portfolio Services (CPSS)

Valuation Ratios
P/E Ratio 3.2
Price to Sales 0.2
Price to Book 0.5
Price to Tangible Book
Price to Cash Flow 0.5
Price to Free Cash Flow 0.5
Growth Rates
Sales Growth Rate 15.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 1126.9%
Total Debt to Equity 1182.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.1%
Ret/ On Assets - 3 Yr. Avg. 3.3%
Return On Total Capital 1.3%
Ret/ On T. Cap. - 3 Yr. Avg. 1.7%
Return On Equity 16.7%
Return On Equity - 3 Yr. Avg. 22.7%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 81%
Gross Margin - 3 Yr. Avg. 82.8%
EBITDA Margin 28.9%
EBITDA Margin - 3 Yr. Avg. 30.8%
Operating Margin 11.6%
Oper. Margin - 3 Yr. Avg. 15.3%
Pre-Tax Margin 11.8%
Pre-Tax Margin - 3 Yr. Avg. 15.3%
Net Profit Margin 6.9%
Net Profit Margin - 3 Yr. Avg. 8.8%
Effective Tax Rate 42%
Eff/ Tax Rate - 3 Yr. Avg. 42.3%
Payout Ratio 0%

CPSS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CPSS stock intrinsic value calculation we used $422 million for the last fiscal year's total revenue generated by Consumer Portfolio Services. The default revenue input number comes from 2016 income statement of Consumer Portfolio Services. 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 CPSS stock valuation model: a) initial revenue growth rate of 6.9% 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 13.5%, whose default value for CPSS is calculated based on our internal credit rating of Consumer Portfolio Services, 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 Consumer Portfolio Services.
    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 CPSS stock the variable cost ratio is equal to 82.9%.

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 CPSS 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 Consumer Portfolio Services.

Corporate tax rate of 27% is the nominal tax rate for Consumer Portfolio Services. 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 CPSS 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 CPSS are equal to 0.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Consumer Portfolio Services 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 CPSS is equal to 21.1%. 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 - $186 million for Consumer Portfolio Services - 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 23.478 million for Consumer Portfolio Services 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 Consumer Portfolio Services at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
CACC Credit Accepta 266.45 389.98  str.buy
SC Santander Cons 13.09 15.16  hold
NICK Nicholas Finan 8.71 7.22  sell
F Ford Motor 10.80 14.53  buy

COMPANY NEWS

▶ Consumer Portfolio Services posts 2Q profit   [Jul-24-17 09:17PM  Associated Press]
▶ CPS Announces Second Quarter 2017 Earnings   [04:00PM  GlobeNewswire]
▶ CPS to Host Conference Call on Second Quarter 2017 Earnings   [Jul-13-17 01:17PM  GlobeNewswire]
▶ New Strong Sell Stocks for April 24th   [Apr-24-17 10:26AM  Zacks]
▶ UPDATE: CPS Announces First Quarter 2017 Earnings   [Apr-20-17 04:38PM  GlobeNewswire]
▶ Consumer Portfolio Services posts 1Q profit   [Apr-19-17 05:16PM  Associated Press]
▶ CPS Announces First Quarter 2017 Earnings   [04:30PM  GlobeNewswire]
▶ CPS Announces Renewal of $100 Million Credit Facility   [Apr-18-17 01:04PM  GlobeNewswire]
▶ CPS to Host Conference Call on First Quarter 2017 Earnings   [Apr-13-17 01:00PM  GlobeNewswire]
▶ Consumer Portfolio Services posts 4Q profit   [Feb-14-17 05:37PM  Associated Press]
▶ CPS Announces Fourth Quarter 2016 Earnings   [04:30PM  GlobeNewswire]
▶ CPS to Host Conference Call on Fourth Quarter 2016 Earnings   [Feb-06-17 12:23PM  GlobeNewswire]
▶ CPS Announces Third Quarter 2016 Earnings   [04:15PM  GlobeNewswire]
▶ CPS to Host Conference Call on Third Quarter 2016 Earnings   [Oct-11-16 02:03PM  GlobeNewswire]
▶ CPS Announces Renewal of $100 Million Credit Facility   [Aug-15-16 03:39PM  GlobeNewswire]
▶ Second Curves Bets on Small-Caps Lead to Huge Losses   [Aug-05-16 10:01AM  at Insider Monkey]
▶ CPS Announces Second Quarter 2016 Earnings   [Jul-27-16 04:30PM  GlobeNewswire]
▶ CPS Announces First Quarter 2016 Earnings   [04:30PM  GlobeNewswire]
▶ CPS to Host Conference Call on First Quarter 2016 Earnings   [Apr-15-16 07:00PM  GlobeNewswire]
▶ CPS Announces Fourth Quarter 2015 Earnings   [04:51PM  GlobeNewswire]
▶ CPS Announces New $100 Million Revolving Credit Facility   [Nov-30  03:00PM  GlobeNewswire]
▶ Should You Avoid JMP Group Inc. (JMP)?   [Nov-24  04:55PM  at Insider Monkey]
Stock chart of CPSS Financial statements of CPSS
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.