Intrinsic value of CST Brands - CST

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$48.33

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$48.33

 
Intrinsic value

$27.50

 
Up/down potential

-43%

 
Rating

sell

 
Value-price divergence* premium content

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

We calculate the intrinsic value of CST 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 3.6

 

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, %
  -2.95
  12.30
  11.57
  10.91
  10.32
  9.79
  9.31
  8.88
  8.49
  8.14
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
  6.50
  6.35
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
Revenue, $m
  11,106
  12,472
  13,915
  15,434
  17,027
  18,693
  20,434
  22,248
  24,138
  26,103
  28,146
  30,270
  32,477
  34,770
  37,154
  39,632
  42,210
  44,891
  47,682
  50,589
  53,617
  56,774
  60,066
  63,501
  67,087
  70,832
  74,745
  78,834
  83,111
  87,584
  92,264
Variable operating expenses, $m
 
  12,178
  13,579
  15,055
  16,602
  18,221
  19,912
  21,675
  23,510
  25,419
  27,404
  29,405
  31,549
  33,777
  36,093
  38,500
  41,004
  43,608
  46,320
  49,143
  52,085
  55,152
  58,350
  61,687
  65,170
  68,808
  72,609
  76,582
  80,736
  85,081
  89,628
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
  10,570
  12,178
  13,579
  15,055
  16,602
  18,221
  19,912
  21,675
  23,510
  25,419
  27,404
  29,405
  31,549
  33,777
  36,093
  38,500
  41,004
  43,608
  46,320
  49,143
  52,085
  55,152
  58,350
  61,687
  65,170
  68,808
  72,609
  76,582
  80,736
  85,081
  89,628
Operating income, $m
  536
  294
  336
  379
  425
  472
  522
  574
  628
  684
  742
  865
  928
  994
  1,062
  1,132
  1,206
  1,283
  1,362
  1,446
  1,532
  1,622
  1,716
  1,814
  1,917
  2,024
  2,136
  2,253
  2,375
  2,503
  2,636
EBITDA, $m
  793
  599
  668
  741
  818
  898
  981
  1,069
  1,159
  1,254
  1,352
  1,454
  1,560
  1,670
  1,785
  1,904
  2,027
  2,156
  2,290
  2,430
  2,575
  2,727
  2,885
  3,050
  3,222
  3,402
  3,590
  3,786
  3,992
  4,207
  4,432
Interest expense (income), $m
  61
  59
  74
  90
  107
  125
  144
  164
  184
  205
  228
  251
  275
  299
  325
  352
  380
  409
  439
  471
  504
  538
  573
  610
  649
  689
  732
  776
  822
  870
  921
Earnings before tax, $m
  480
  236
  262
  289
  317
  347
  378
  410
  444
  479
  515
  614
  653
  694
  736
  780
  826
  874
  923
  975
  1,029
  1,085
  1,143
  1,204
  1,268
  1,334
  1,404
  1,477
  1,553
  1,632
  1,716
Tax expense, $m
  176
  64
  71
  78
  86
  94
  102
  111
  120
  129
  139
  166
  176
  187
  199
  211
  223
  236
  249
  263
  278
  293
  309
  325
  342
  360
  379
  399
  419
  441
  463
Net income, $m
  324
  172
  191
  211
  232
  253
  276
  299
  324
  349
  376
  448
  477
  507
  538
  570
  603
  638
  674
  712
  751
  792
  834
  879
  926
  974
  1,025
  1,078
  1,134
  1,192
  1,253

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  137
  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
  4,360
  4,742
  5,291
  5,868
  6,474
  7,108
  7,770
  8,459
  9,178
  9,925
  10,702
  11,510
  12,349
  13,221
  14,127
  15,069
  16,049
  17,069
  18,130
  19,235
  20,387
  21,587
  22,839
  24,145
  25,508
  26,932
  28,420
  29,975
  31,601
  33,302
  35,081
Adjusted assets (=assets-cash), $m
  4,223
  4,742
  5,291
  5,868
  6,474
  7,108
  7,770
  8,459
  9,178
  9,925
  10,702
  11,510
  12,349
  13,221
  14,127
  15,069
  16,049
  17,069
  18,130
  19,235
  20,387
  21,587
  22,839
  24,145
  25,508
  26,932
  28,420
  29,975
  31,601
  33,302
  35,081
Revenue / Adjusted assets
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
  2.630
Average production assets, $m
  2,791
  3,130
  3,493
  3,874
  4,274
  4,692
  5,129
  5,584
  6,059
  6,552
  7,065
  7,598
  8,152
  8,727
  9,326
  9,948
  10,595
  11,268
  11,968
  12,698
  13,458
  14,250
  15,077
  15,939
  16,839
  17,779
  18,761
  19,787
  20,861
  21,984
  23,158
Working capital, $m
  12
  -50
  -56
  -62
  -68
  -75
  -82
  -89
  -97
  -104
  -113
  -121
  -130
  -139
  -149
  -159
  -169
  -180
  -191
  -202
  -214
  -227
  -240
  -254
  -268
  -283
  -299
  -315
  -332
  -350
  -369
Total debt, $m
  1,505
  1,803
  2,199
  2,617
  3,055
  3,513
  3,991
  4,490
  5,010
  5,550
  6,112
  6,695
  7,302
  7,933
  8,588
  9,269
  9,978
  10,715
  11,482
  12,281
  13,114
  13,981
  14,886
  15,831
  16,817
  17,846
  18,922
  20,046
  21,222
  22,451
  23,738
Total liabilities, $m
  3,131
  3,429
  3,825
  4,243
  4,681
  5,139
  5,617
  6,116
  6,636
  7,176
  7,738
  8,321
  8,928
  9,559
  10,214
  10,895
  11,604
  12,341
  13,108
  13,907
  14,740
  15,607
  16,512
  17,457
  18,443
  19,472
  20,548
  21,672
  22,848
  24,077
  25,364
Total equity, $m
  1,229
  1,314
  1,466
  1,626
  1,793
  1,969
  2,152
  2,343
  2,542
  2,749
  2,964
  3,188
  3,421
  3,662
  3,913
  4,174
  4,446
  4,728
  5,022
  5,328
  5,647
  5,980
  6,326
  6,688
  7,066
  7,460
  7,872
  8,303
  8,753
  9,225
  9,718
Total liabilities and equity, $m
  4,360
  4,743
  5,291
  5,869
  6,474
  7,108
  7,769
  8,459
  9,178
  9,925
  10,702
  11,509
  12,349
  13,221
  14,127
  15,069
  16,050
  17,069
  18,130
  19,235
  20,387
  21,587
  22,838
  24,145
  25,509
  26,932
  28,420
  29,975
  31,601
  33,302
  35,082
Debt-to-equity ratio
  1.225
  1.370
  1.500
  1.610
  1.700
  1.780
  1.850
  1.920
  1.970
  2.020
  2.060
  2.100
  2.130
  2.170
  2.190
  2.220
  2.240
  2.270
  2.290
  2.300
  2.320
  2.340
  2.350
  2.370
  2.380
  2.390
  2.400
  2.410
  2.420
  2.430
  2.440
Adjusted equity ratio
  0.259
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  324
  172
  191
  211
  232
  253
  276
  299
  324
  349
  376
  448
  477
  507
  538
  570
  603
  638
  674
  712
  751
  792
  834
  879
  926
  974
  1,025
  1,078
  1,134
  1,192
  1,253
Depreciation, amort., depletion, $m
  257
  305
  333
  362
  393
  426
  459
  495
  532
  570
  610
  589
  632
  677
  723
  771
  821
  873
  928
  984
  1,043
  1,105
  1,169
  1,236
  1,305
  1,378
  1,454
  1,534
  1,617
  1,704
  1,795
Funds from operations, $m
  269
  477
  524
  573
  625
  679
  735
  794
  855
  919
  985
  1,037
  1,109
  1,183
  1,260
  1,341
  1,424
  1,511
  1,602
  1,696
  1,794
  1,896
  2,003
  2,115
  2,231
  2,352
  2,479
  2,612
  2,751
  2,896
  3,048
Change in working capital, $m
  -18
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
Cash from operations, $m
  287
  690
  530
  579
  631
  686
  742
  801
  863
  927
  994
  1,046
  1,118
  1,192
  1,270
  1,351
  1,435
  1,522
  1,613
  1,708
  1,806
  1,909
  2,016
  2,128
  2,245
  2,367
  2,495
  2,628
  2,768
  2,914
  3,066
Maintenance CAPEX, $m
  0
  -216
  -243
  -271
  -300
  -331
  -364
  -398
  -433
  -470
  -508
  -548
  -589
  -632
  -677
  -723
  -771
  -821
  -873
  -928
  -984
  -1,043
  -1,105
  -1,169
  -1,236
  -1,305
  -1,378
  -1,454
  -1,534
  -1,617
  -1,704
New CAPEX, $m
  -370
  -339
  -362
  -381
  -400
  -418
  -437
  -455
  -474
  -493
  -513
  -533
  -554
  -576
  -598
  -622
  -647
  -673
  -701
  -730
  -760
  -792
  -826
  -862
  -900
  -940
  -982
  -1,027
  -1,073
  -1,123
  -1,175
Cash from investing activities, $m
  -508
  -555
  -605
  -652
  -700
  -749
  -801
  -853
  -907
  -963
  -1,021
  -1,081
  -1,143
  -1,208
  -1,275
  -1,345
  -1,418
  -1,494
  -1,574
  -1,658
  -1,744
  -1,835
  -1,931
  -2,031
  -2,136
  -2,245
  -2,360
  -2,481
  -2,607
  -2,740
  -2,879
Free cash flow, $m
  -221
  134
  -75
  -73
  -69
  -64
  -58
  -52
  -44
  -36
  -27
  -35
  -25
  -15
  -5
  6
  17
  28
  39
  50
  62
  73
  85
  97
  110
  122
  135
  147
  161
  174
  188
Issuance/(repayment) of debt, $m
  97
  376
  397
  417
  438
  458
  478
  499
  519
  540
  562
  584
  607
  630
  655
  681
  709
  737
  767
  799
  832
  868
  905
  944
  986
  1,030
  1,076
  1,124
  1,176
  1,230
  1,287
Issuance/(repurchase) of shares, $m
  -3
  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  
  119
  376
  397
  417
  438
  458
  478
  499
  519
  540
  562
  584
  607
  630
  655
  681
  709
  737
  767
  799
  832
  868
  905
  944
  986
  1,030
  1,076
  1,124
  1,176
  1,230
  1,287
Total cash flow (excl. dividends), $m
  -98
  510
  321
  345
  369
  394
  420
  447
  475
  504
  534
  549
  582
  615
  650
  687
  725
  765
  806
  849
  894
  941
  990
  1,042
  1,095
  1,152
  1,210
  1,272
  1,336
  1,404
  1,474
Retained Cash Flow (-), $m
  -319
  -144
  -152
  -160
  -168
  -176
  -183
  -191
  -199
  -207
  -215
  -224
  -232
  -242
  -251
  -261
  -271
  -282
  -294
  -306
  -319
  -332
  -347
  -362
  -378
  -394
  -412
  -431
  -450
  -471
  -493
Prev. year cash balance distribution, $m
 
  59
  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
 
  425
  169
  185
  201
  219
  237
  256
  276
  297
  319
  325
  349
  374
  399
  426
  454
  482
  512
  543
  575
  609
  644
  680
  718
  757
  798
  841
  886
  932
  981
Discount rate, %
 
  7.80
  8.19
  8.60
  9.03
  9.48
  9.95
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.41
  27.73
  29.12
  30.58
  32.11
PV of cash for distribution, $m
 
  395
  145
  144
  142
  139
  134
  128
  120
  111
  102
  87
  78
  68
  58
  49
  41
  33
  27
  21
  16
  12
  9
  6
  4
  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

CST Brands, Inc., through its subsidiaries, operates as an independent retailer of motor fuel and convenience merchandise items in the United States and eastern Canada. The company’s retail operations include sale of motor fuel at convenience stores, commission agents, and cardlocks; food, merchandise items, and services at convenience stores; and heating oil to residential customers, as well as heating oil and motor fuel to small commercial customers. As of December 31, 2015, it owned and operated 1,049 convenience stores located in Arkansas, Arizona, California, Colorado, Louisiana, New Mexico, New York, Oklahoma, Texas, and Wyoming; and 869 retail sites located in New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Québec, which consisted of 303 company operated convenience stores, 494 commission agents, and 72 cardlocks; and 1,075 retail sites located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Georgia, North Carolina, Maryland, Delaware, Tennessee, Virginia, Illinois, West Virginia, Minnesota, Michigan, Wisconsin, South Dakota, Indiana, Rhode Island, Colorado, and Texas. The company also provides other products and services, including car wash, lottery, money orders, air/water/vacuum services, video and game rentals, and access to automated teller machines. CST Brands, Inc. offers its products under the Cibolo Mountain, Corner Store, Fresh Choices, Flavors2Go, U Force, Ultramart, Dépanneur du Coin, Valero, Diamond Shamrock, Ultramar, Nice N Easy Grocery Shoppe, Mama Mia’s Classic Pizza, Easy Street Eatery, and Transit Café names. The company is headquartered in San Antonio, Texas.

FINANCIAL RATIOS  of  CST Brands (CST)

Valuation Ratios
P/E Ratio 11.3
Price to Sales 0.3
Price to Book 3
Price to Tangible Book
Price to Cash Flow 12.8
Price to Free Cash Flow -44.1
Growth Rates
Sales Growth Rate -3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 7.9%
Cap. Spend. - 3 Yr. Gr. Rate 12.3%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 116.1%
Total Debt to Equity 122.5%
Interest Coverage 9
Management Effectiveness
Return On Assets 8.8%
Ret/ On Assets - 3 Yr. Avg. 7.1%
Return On Total Capital 12.7%
Ret/ On T. Cap. - 3 Yr. Avg. 10%
Return On Equity 30.3%
Return On Equity - 3 Yr. Avg. 25.1%
Asset Turnover 2.7
Profitability Ratios
Gross Margin 13%
Gross Margin - 3 Yr. Avg. 11.7%
EBITDA Margin 7.2%
EBITDA Margin - 3 Yr. Avg. 5.1%
Operating Margin 4.8%
Oper. Margin - 3 Yr. Avg. 3.2%
Pre-Tax Margin 4.3%
Pre-Tax Margin - 3 Yr. Avg. 2.9%
Net Profit Margin 2.9%
Net Profit Margin - 3 Yr. Avg. 1.9%
Effective Tax Rate 36.7%
Eff/ Tax Rate - 3 Yr. Avg. 37.7%
Payout Ratio 24.4%

CST stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CST stock intrinsic value calculation we used $11106 million for the last fiscal year's total revenue generated by CST Brands. The default revenue input number comes from 2016 income statement of CST Brands. 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 CST stock valuation model: a) initial revenue growth rate of 12.3% 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 7.8%, whose default value for CST is calculated based on our internal credit rating of CST Brands, 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 CST Brands.
    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 CST stock the variable cost ratio is equal to 97.7%.

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 CST 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 4.1% for CST Brands.

Corporate tax rate of 27% is the nominal tax rate for CST Brands. 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 CST 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 CST are equal to 25.1%.

Life of production assets of 12.9 years is the average useful life of capital assets used in CST Brands 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 CST is equal to -0.4%. 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 - $1229 million for CST Brands - 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 75.483 million for CST Brands 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 CST Brands at the current share price and the inputted number of shares is $3.6 billion.


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COMPANY NEWS

▶ ETFs with exposure to CST Brands, Inc. : April 7, 2017   [Apr-07-17 04:16PM  Capital Cube]
▶ Canada's Couche Tard posts 4.7 pct rise in profit   [Mar-14-17 09:21AM  Reuters]
▶ RBC Capital Downgrades CASY after Weak Fiscal 3Q17 Results   [Mar-13-17 07:36AM  Market Realist]
▶ Caseys on the Street: Why All the Optimism?   [Mar-03-17 09:06AM  Market Realist]
▶ Can Caseys Return to Growth in 3Q17?   [Mar-02-17 01:35PM  Market Realist]
▶ CST growth loses steam with fourth quarter earnings report   [Feb-27-17 05:50PM  at bizjournals.com]
▶ CST growth loses steam with fourth quarter earnings report   [05:50PM  American City Business Journals]
▶ CST misses Street 4Q forecasts   [05:38PM  Associated Press]
▶ CST Brands Inc (CST): Smart Money Heading for the Exits   [Nov-27-16 05:55PM  at Insider Monkey]
▶ CST sets date to vote on merger with Circle K parent company   [Oct-13-16 02:30PM  at bizjournals.com]
▶ Not Upstream, but Arconic Segments Hit Alcoas 3Q16 Earnings   [Oct-12-16 04:04PM  at Market Realist]
▶ [$$] Couche-Tard to Buy CST Brands for About $3.7 Billion   [12:09AM  at The Wall Street Journal]
▶ [$$] Couche-Tard to Buy CST Brands for About $3.7 Billion   [02:43PM  at The Wall Street Journal]
▶ Couche-Tarde's Excellent Adventure   [12:59PM  at Bloomberg]
Stock chart of CST Financial statements of CST
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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