Intrinsic value of Cresud ADR - CRESY

Previous Close

$22.25

  Intrinsic Value

$621.70

stock screener

  Rating & Target

str. buy

+999%

Previous close

$22.25

 
Intrinsic value

$621.70

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of CRESY 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  127.61
  15.00
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
Revenue, $m
  4,987
  5,735
  6,538
  7,394
  8,303
  9,263
  10,273
  11,333
  12,442
  13,599
  14,806
  16,063
  17,370
  18,729
  20,141
  21,609
  23,135
  24,720
  26,368
  28,082
  29,866
  31,722
  33,656
  35,670
  37,769
  39,959
  42,244
  44,629
  47,120
  49,723
  52,443
Variable operating expenses, $m
 
  2,354
  2,682
  3,030
  3,401
  3,792
  4,203
  4,635
  5,087
  5,558
  6,050
  6,544
  7,076
  7,630
  8,205
  8,803
  9,425
  10,071
  10,742
  11,441
  12,167
  12,923
  13,711
  14,532
  15,387
  16,279
  17,210
  18,181
  19,196
  20,257
  21,365
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
  4,352
  2,354
  2,682
  3,030
  3,401
  3,792
  4,203
  4,635
  5,087
  5,558
  6,050
  6,544
  7,076
  7,630
  8,205
  8,803
  9,425
  10,071
  10,742
  11,441
  12,167
  12,923
  13,711
  14,532
  15,387
  16,279
  17,210
  18,181
  19,196
  20,257
  21,365
Operating income, $m
  635
  3,381
  3,856
  4,364
  4,903
  5,471
  6,070
  6,698
  7,355
  8,041
  8,756
  9,519
  10,294
  11,099
  11,936
  12,806
  13,710
  14,649
  15,626
  16,642
  17,699
  18,799
  19,945
  21,138
  22,383
  23,680
  25,034
  26,448
  27,924
  29,466
  31,078
EBITDA, $m
  946
  3,734
  4,257
  4,814
  5,406
  6,031
  6,689
  7,379
  8,101
  8,854
  9,640
  10,458
  11,309
  12,194
  13,114
  14,070
  15,063
  16,095
  17,168
  18,284
  19,446
  20,654
  21,913
  23,225
  24,592
  26,017
  27,505
  29,058
  30,680
  32,374
  34,146
Interest expense (income), $m
  379
  337
  359
  447
  540
  640
  745
  856
  972
  1,094
  1,220
  1,353
  1,490
  1,634
  1,783
  1,937
  2,098
  2,265
  2,439
  2,620
  2,808
  3,003
  3,206
  3,418
  3,639
  3,869
  4,109
  4,359
  4,621
  4,894
  5,179
Earnings before tax, $m
  312
  3,044
  3,498
  3,917
  4,362
  4,831
  5,325
  5,842
  6,383
  6,947
  7,536
  8,166
  8,803
  9,465
  10,153
  10,869
  11,612
  12,384
  13,187
  14,022
  14,891
  15,796
  16,738
  17,720
  18,743
  19,811
  20,925
  22,088
  23,303
  24,572
  25,899
Tax expense, $m
  183
  822
  944
  1,058
  1,178
  1,304
  1,438
  1,577
  1,723
  1,876
  2,035
  2,205
  2,377
  2,556
  2,741
  2,934
  3,135
  3,344
  3,560
  3,786
  4,021
  4,265
  4,519
  4,784
  5,061
  5,349
  5,650
  5,964
  6,292
  6,635
  6,993
Net income, $m
  97
  2,222
  2,553
  2,860
  3,184
  3,527
  3,887
  4,265
  4,660
  5,072
  5,501
  5,961
  6,426
  6,910
  7,412
  7,934
  8,476
  9,040
  9,627
  10,236
  10,871
  11,531
  12,219
  12,936
  13,683
  14,462
  15,275
  16,124
  17,011
  17,938
  18,906

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,531
  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
  15,452
  14,858
  16,938
  19,157
  21,511
  23,998
  26,615
  29,360
  32,232
  35,231
  38,358
  41,613
  45,000
  48,520
  52,180
  55,982
  59,934
  64,042
  68,312
  72,753
  77,373
  82,182
  87,191
  92,409
  97,848
  103,521
  109,440
  115,620
  122,073
  128,815
  135,863
Adjusted assets (=assets-cash), $m
  12,921
  14,858
  16,938
  19,157
  21,511
  23,998
  26,615
  29,360
  32,232
  35,231
  38,358
  41,613
  45,000
  48,520
  52,180
  55,982
  59,934
  64,042
  68,312
  72,753
  77,373
  82,182
  87,191
  92,409
  97,848
  103,521
  109,440
  115,620
  122,073
  128,815
  135,863
Revenue / Adjusted assets
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
  0.386
Average production assets, $m
  2,507
  2,885
  3,289
  3,719
  4,177
  4,659
  5,167
  5,700
  6,258
  6,840
  7,447
  8,080
  8,737
  9,421
  10,131
  10,869
  11,637
  12,434
  13,263
  14,125
  15,023
  15,956
  16,929
  17,942
  18,998
  20,099
  21,249
  22,448
  23,701
  25,011
  26,379
Working capital, $m
  1,099
  69
  78
  89
  100
  111
  123
  136
  149
  163
  178
  193
  208
  225
  242
  259
  278
  297
  316
  337
  358
  381
  404
  428
  453
  480
  507
  536
  565
  597
  629
Total debt, $m
  8,660
  7,630
  9,502
  11,499
  13,618
  15,856
  18,211
  20,682
  23,267
  25,966
  28,780
  31,710
  34,758
  37,926
  41,220
  44,642
  48,199
  51,895
  55,738
  59,735
  63,894
  68,222
  72,730
  77,426
  82,321
  87,427
  92,754
  98,316
  104,124
  110,192
  116,535
Total liabilities, $m
  14,403
  13,372
  15,244
  17,241
  19,360
  21,598
  23,953
  26,424
  29,009
  31,708
  34,522
  37,452
  40,500
  43,668
  46,962
  50,384
  53,941
  57,637
  61,480
  65,477
  69,636
  73,964
  78,472
  83,168
  88,063
  93,169
  98,496
  104,058
  109,866
  115,934
  122,277
Total equity, $m
  1,050
  1,486
  1,694
  1,916
  2,151
  2,400
  2,661
  2,936
  3,223
  3,523
  3,836
  4,161
  4,500
  4,852
  5,218
  5,598
  5,993
  6,404
  6,831
  7,275
  7,737
  8,218
  8,719
  9,241
  9,785
  10,352
  10,944
  11,562
  12,207
  12,882
  13,586
Total liabilities and equity, $m
  15,453
  14,858
  16,938
  19,157
  21,511
  23,998
  26,614
  29,360
  32,232
  35,231
  38,358
  41,613
  45,000
  48,520
  52,180
  55,982
  59,934
  64,041
  68,311
  72,752
  77,373
  82,182
  87,191
  92,409
  97,848
  103,521
  109,440
  115,620
  122,073
  128,816
  135,863
Debt-to-equity ratio
  8.248
  5.140
  5.610
  6.000
  6.330
  6.610
  6.840
  7.040
  7.220
  7.370
  7.500
  7.620
  7.720
  7.820
  7.900
  7.970
  8.040
  8.100
  8.160
  8.210
  8.260
  8.300
  8.340
  8.380
  8.410
  8.450
  8.480
  8.500
  8.530
  8.550
  8.580
Adjusted equity ratio
  -0.114
  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
  97
  2,222
  2,553
  2,860
  3,184
  3,527
  3,887
  4,265
  4,660
  5,072
  5,501
  5,961
  6,426
  6,910
  7,412
  7,934
  8,476
  9,040
  9,627
  10,236
  10,871
  11,531
  12,219
  12,936
  13,683
  14,462
  15,275
  16,124
  17,011
  17,938
  18,906
Depreciation, amort., depletion, $m
  311
  353
  400
  450
  504
  560
  619
  681
  746
  813
  884
  939
  1,016
  1,095
  1,178
  1,264
  1,353
  1,446
  1,542
  1,642
  1,747
  1,855
  1,968
  2,086
  2,209
  2,337
  2,471
  2,610
  2,756
  2,908
  3,067
Funds from operations, $m
  594
  2,575
  2,954
  3,310
  3,688
  4,087
  4,506
  4,946
  5,405
  5,885
  6,385
  6,901
  7,442
  8,005
  8,590
  9,198
  9,830
  10,486
  11,169
  11,879
  12,617
  13,386
  14,187
  15,022
  15,892
  16,799
  17,746
  18,735
  19,767
  20,846
  21,974
Change in working capital, $m
  13
  9
  10
  10
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  18
  19
  20
  21
  21
  22
  23
  24
  25
  26
  27
  29
  30
  31
  33
Cash from operations, $m
  581
  2,566
  2,944
  3,300
  3,677
  4,075
  4,494
  4,933
  5,392
  5,871
  6,371
  6,886
  7,427
  7,989
  8,573
  9,180
  9,811
  10,467
  11,149
  11,858
  12,596
  13,364
  14,164
  14,998
  15,867
  16,773
  17,719
  18,706
  19,737
  20,815
  21,941
Maintenance CAPEX, $m
  0
  -291
  -335
  -382
  -432
  -486
  -542
  -601
  -663
  -728
  -795
  -866
  -939
  -1,016
  -1,095
  -1,178
  -1,264
  -1,353
  -1,446
  -1,542
  -1,642
  -1,747
  -1,855
  -1,968
  -2,086
  -2,209
  -2,337
  -2,471
  -2,610
  -2,756
  -2,908
New CAPEX, $m
  -266
  -378
  -404
  -431
  -457
  -483
  -508
  -533
  -558
  -582
  -607
  -632
  -658
  -684
  -710
  -738
  -767
  -797
  -829
  -862
  -897
  -934
  -972
  -1,013
  -1,056
  -1,101
  -1,149
  -1,200
  -1,253
  -1,309
  -1,368
Cash from investing activities, $m
  -155
  -669
  -739
  -813
  -889
  -969
  -1,050
  -1,134
  -1,221
  -1,310
  -1,402
  -1,498
  -1,597
  -1,700
  -1,805
  -1,916
  -2,031
  -2,150
  -2,275
  -2,404
  -2,539
  -2,681
  -2,827
  -2,981
  -3,142
  -3,310
  -3,486
  -3,671
  -3,863
  -4,065
  -4,276
Free cash flow, $m
  426
  1,897
  2,205
  2,487
  2,787
  3,107
  3,444
  3,799
  4,171
  4,561
  4,968
  5,388
  5,830
  6,289
  6,767
  7,264
  7,780
  8,317
  8,874
  9,454
  10,056
  10,684
  11,336
  12,016
  12,724
  13,462
  14,232
  15,036
  15,874
  16,750
  17,665
Issuance/(repayment) of debt, $m
  479
  460
  1,872
  1,997
  2,119
  2,238
  2,355
  2,471
  2,585
  2,699
  2,814
  2,930
  3,048
  3,169
  3,293
  3,422
  3,557
  3,697
  3,843
  3,997
  4,158
  4,328
  4,508
  4,696
  4,896
  5,106
  5,327
  5,561
  5,808
  6,068
  6,343
Issuance/(repurchase) of shares, $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
Cash from financing (excl. dividends), $m  
  289
  460
  1,872
  1,997
  2,119
  2,238
  2,355
  2,471
  2,585
  2,699
  2,814
  2,930
  3,048
  3,169
  3,293
  3,422
  3,557
  3,697
  3,843
  3,997
  4,158
  4,328
  4,508
  4,696
  4,896
  5,106
  5,327
  5,561
  5,808
  6,068
  6,343
Total cash flow (excl. dividends), $m
  888
  2,357
  4,077
  4,484
  4,906
  5,345
  5,799
  6,270
  6,756
  7,260
  7,782
  8,317
  8,877
  9,458
  10,061
  10,686
  11,337
  12,013
  12,717
  13,450
  14,215
  15,012
  15,844
  16,712
  17,620
  18,568
  19,560
  20,597
  21,682
  22,818
  24,007
Retained Cash Flow (-), $m
  -176
  -1,477
  -208
  -222
  -235
  -249
  -262
  -275
  -287
  -300
  -313
  -326
  -339
  -352
  -366
  -380
  -395
  -411
  -427
  -444
  -462
  -481
  -501
  -522
  -544
  -567
  -592
  -618
  -645
  -674
  -705
Prev. year cash balance distribution, $m
 
  1,041
  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
 
  1,921
  3,869
  4,262
  4,671
  5,096
  5,538
  5,995
  6,469
  6,960
  7,469
  7,992
  8,539
  9,106
  9,695
  10,306
  10,942
  11,602
  12,290
  13,006
  13,753
  14,531
  15,343
  16,191
  17,076
  18,001
  18,968
  19,979
  21,037
  22,144
  23,303
Discount rate, %
 
  10.20
  10.71
  11.25
  11.81
  12.40
  13.02
  13.67
  14.35
  15.07
  15.82
  16.61
  17.45
  18.32
  19.23
  20.20
  21.21
  22.27
  23.38
  24.55
  25.77
  27.06
  28.42
  29.84
  31.33
  32.90
  34.54
  36.27
  38.08
  39.99
  41.98
PV of cash for distribution, $m
 
  1,743
  3,157
  3,096
  2,989
  2,841
  2,657
  2,445
  2,213
  1,968
  1,719
  1,474
  1,240
  1,023
  826
  653
  504
  381
  280
  201
  140
  95
  63
  40
  25
  15
  8
  5
  3
  1
  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

Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria is an agricultural company engaged in the production of basic agricultural commodities with presence in the agricultural sector of Brazil, through its investment in Brasilagro, as well as in other Latin American countries. In addition, the Company leases lands to third parties and perform agency and agro-industrial services, including a meat packing plant. It operates in two businesses areas, namely, Agricultural and Investment and Development Properties. Its Agricultural business comprises eight segments: Crops, Cattle, Dairy, Sugarcane, Agricultural Rentals and Services, Land Transformation and Sales, Agro-industrial and Others. The Company's Investment and Development Properties comprises six segments: Shopping Center Properties, Offices, Sales and Developments, Hotels, International, and Financial Operations and Others. The Company's main crops include soybean, wheat, corn and sunflower.

FINANCIAL RATIOS  of  Cresud ADR (CRESY)

Valuation Ratios
P/E Ratio 113.8
Price to Sales 2.2
Price to Book 10.5
Price to Tangible Book
Price to Cash Flow 19
Price to Free Cash Flow 35
Growth Rates
Sales Growth Rate 127.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 228.4%
Cap. Spend. - 3 Yr. Gr. Rate 92.7%
Financial Strength
Quick Ratio 2
Current Ratio 0.1
LT Debt to Equity 682.9%
Total Debt to Equity 824.8%
Interest Coverage 2
Management Effectiveness
Return On Assets 1.8%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 1.1%
Ret/ On T. Cap. - 3 Yr. Avg. 3%
Return On Equity 10.1%
Return On Equity - 3 Yr. Avg. 25.7%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 27%
Gross Margin - 3 Yr. Avg. 23.7%
EBITDA Margin 20.1%
EBITDA Margin - 3 Yr. Avg. 38.5%
Operating Margin 12.7%
Oper. Margin - 3 Yr. Avg. 40.4%
Pre-Tax Margin 6.3%
Pre-Tax Margin - 3 Yr. Avg. 21.9%
Net Profit Margin 1.9%
Net Profit Margin - 3 Yr. Avg. 6%
Effective Tax Rate 58.7%
Eff/ Tax Rate - 3 Yr. Avg. 43.3%
Payout Ratio 172.2%

CRESY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CRESY stock intrinsic value calculation we used $4987 million for the last fiscal year's total revenue generated by Cresud ADR. The default revenue input number comes from 2017 income statement of Cresud ADR. 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 CRESY stock valuation model: a) initial revenue growth rate of 15% 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 10.2%, whose default value for CRESY is calculated based on our internal credit rating of Cresud ADR, 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 Cresud ADR.
    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 CRESY stock the variable cost ratio is equal to 41.1%.

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 CRESY 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 4.7% for Cresud ADR.

Corporate tax rate of 27% is the nominal tax rate for Cresud ADR. 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 CRESY 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 CRESY are equal to 50.3%.

Life of production assets of 8.6 years is the average useful life of capital assets used in Cresud ADR 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 CRESY is equal to 1.2%. 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 - $1050 million for Cresud ADR - 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 51.154 million for Cresud ADR 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 Cresud ADR at the current share price and the inputted number of shares is $1.1 billion.

RELATED COMPANIES Price Int.Val. Rating
ALCO Alico 26.80 4.80  str.sell
AGRO Adecoagro 8.98 19.22  str.buy
IRCP IRSA Propiedad 48.80 1,753.27  str.buy
BG Bunge 76.62 59.94  hold

COMPANY NEWS

▶ 6 Stocks Trading Below Peter Lynch Value   [Jan-11-18 03:50PM  GuruFocus.com]
▶ ETFs with exposure to Cresud SA : January 1, 2018   [Jan-01-18 11:31AM  Capital Cube]
▶ ETFs with exposure to Cresud SA : December 21, 2017   [Dec-21-17 11:22AM  Capital Cube]
▶ Cresud posts 1Q profit   [Nov-14-17 05:01AM  Associated Press]
▶ ETFs with exposure to Cresud SA : November 10, 2017   [Nov-10-17 12:06PM  Capital Cube]
▶ ETFs with exposure to Cresud SA : August 4, 2017   [Aug-04-17 07:29PM  Capital Cube]
▶ ETFs with exposure to Cresud SA : June 23, 2017   [Jun-23-17 02:15PM  Capital Cube]
▶ ETFs with exposure to Cresud SA : June 13, 2017   [Jun-13-17 12:23PM  Capital Cube]
▶ ETFs with exposure to Cresud SA : April 5, 2017   [Apr-05-17 04:34PM  Capital Cube]
▶ Cresud posts 2Q profit   [Feb-13-17 02:36PM  Associated Press]
▶ ETFs with exposure to Cresud SA : January 3, 2017   [Jan-03-17 01:53PM  Capital Cube]
▶ ETFs with exposure to Cresud SA : December 14, 2016   [Dec-14-16 11:38AM  Capital Cube]
▶ Is Iridium Communications Inc (IRDM) A Good Stock To Buy?   [Dec-09-16 07:28PM  Insider Monkey]
▶ The 'Trump Effect' On Latin America, Explained   [Nov-28-16 08:34AM  Benzinga]
▶ Cresud S.A.C.I.F. y A. Material Fact   [Nov-20  09:59AM  PR Newswire]
▶ How To Invest In Farming Without Owning a Farm   [Sep-16  05:01PM  at Investopedia]
▶ Cresud Sacifya (CRESY) Downgraded From Hold to Sell   [Nov-14  09:30AM  at TheStreet]
▶ Earnings Release 1Q15   [Nov-11  08:39PM  at noodls]
▶ Will Better Soybean Prices Boost Cresud?   [Jun-02  02:16PM  at Motley Fool]
▶ Cresud SA Stock Upgraded (CRESY)   [May-29  11:11AM  at TheStreet]
▶ SA PRO: Top Long And Short Ideas, Monday April 14   [Apr-15  05:00AM  at Seeking Alpha]
▶ Wall Street Breakfast: Must-Know News   [Apr-14  06:31AM  at Seeking Alpha]
▶ 3 Stocks Spiking on Unusual Volume   [Apr-08  08:05AM  at TheStreet]
▶ Macro Events Buffeting Adecoagro   [Mar-22  10:07AM  at Seeking Alpha]
▶ Better Times, Worse Times For Cresud   [Dec-19  09:37AM  at Seeking Alpha]
Financial statements of CRESY
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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