Intrinsic value of Constellium Cl A - CSTM

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$6.55

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$6.55

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. 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 CSTM 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 0.7

 

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, %
  -7.96
  3.50
  3.65
  3.78
  3.91
  4.02
  4.11
  4.20
  4.28
  4.35
  4.42
  4.48
  4.53
  4.58
  4.62
  4.66
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
Revenue, $m
  5,006
  5,181
  5,370
  5,574
  5,791
  6,024
  6,272
  6,535
  6,815
  7,112
  7,426
  7,759
  8,110
  8,481
  8,873
  9,286
  9,722
  10,181
  10,664
  11,174
  11,710
  12,274
  12,867
  13,492
  14,148
  14,839
  15,565
  16,328
  17,130
  17,973
  18,859
Variable operating expenses, $m
 
  5,610
  5,813
  6,031
  6,264
  6,514
  6,780
  7,063
  7,363
  7,682
  8,019
  8,328
  8,705
  9,104
  9,524
  9,968
  10,435
  10,928
  11,447
  11,994
  12,569
  13,174
  13,811
  14,482
  15,186
  15,928
  16,707
  17,526
  18,387
  19,292
  20,243
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
  4,746
  5,610
  5,813
  6,031
  6,264
  6,514
  6,780
  7,063
  7,363
  7,682
  8,019
  8,328
  8,705
  9,104
  9,524
  9,968
  10,435
  10,928
  11,447
  11,994
  12,569
  13,174
  13,811
  14,482
  15,186
  15,928
  16,707
  17,526
  18,387
  19,292
  20,243
Operating income, $m
  260
  -428
  -442
  -457
  -473
  -490
  -508
  -528
  -548
  -570
  -593
  -569
  -595
  -622
  -651
  -681
  -713
  -747
  -782
  -820
  -859
  -901
  -944
  -990
  -1,038
  -1,089
  -1,142
  -1,198
  -1,257
  -1,319
  -1,384
EBITDA, $m
  424
  -251
  -260
  -270
  -281
  -292
  -304
  -317
  -330
  -345
  -360
  -376
  -393
  -411
  -430
  -450
  -471
  -493
  -517
  -541
  -567
  -595
  -623
  -654
  -686
  -719
  -754
  -791
  -830
  -871
  -914
Interest expense (income), $m
  184
  184
  94
  102
  112
  122
  133
  144
  157
  170
  184
  198
  214
  230
  248
  266
  285
  306
  327
  350
  373
  398
  425
  452
  481
  512
  544
  578
  614
  651
  691
Earnings before tax, $m
  69
  -613
  -536
  -560
  -585
  -612
  -641
  -672
  -705
  -740
  -777
  -768
  -809
  -853
  -899
  -947
  -998
  -1,052
  -1,109
  -1,169
  -1,232
  -1,299
  -1,369
  -1,442
  -1,520
  -1,601
  -1,686
  -1,776
  -1,871
  -1,970
  -2,074
Tax expense, $m
  73
  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
Net income, $m
  -4
  -613
  -536
  -560
  -585
  -612
  -641
  -672
  -705
  -740
  -777
  -768
  -809
  -853
  -899
  -947
  -998
  -1,052
  -1,109
  -1,169
  -1,232
  -1,299
  -1,369
  -1,442
  -1,520
  -1,601
  -1,686
  -1,776
  -1,871
  -1,970
  -2,074

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  490
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,997
  3,631
  3,763
  3,906
  4,058
  4,221
  4,395
  4,580
  4,776
  4,984
  5,204
  5,437
  5,683
  5,943
  6,218
  6,507
  6,813
  7,134
  7,473
  7,830
  8,206
  8,601
  9,017
  9,455
  9,915
  10,399
  10,907
  11,442
  12,004
  12,595
  13,216
Adjusted assets (=assets-cash), $m
  3,507
  3,631
  3,763
  3,906
  4,058
  4,221
  4,395
  4,580
  4,776
  4,984
  5,204
  5,437
  5,683
  5,943
  6,218
  6,507
  6,813
  7,134
  7,473
  7,830
  8,206
  8,601
  9,017
  9,455
  9,915
  10,399
  10,907
  11,442
  12,004
  12,595
  13,216
Revenue / Adjusted assets
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
  1.427
Average production assets, $m
  1,524
  1,575
  1,633
  1,694
  1,761
  1,831
  1,907
  1,987
  2,072
  2,162
  2,258
  2,359
  2,465
  2,578
  2,697
  2,823
  2,955
  3,095
  3,242
  3,397
  3,560
  3,731
  3,912
  4,101
  4,301
  4,511
  4,732
  4,964
  5,208
  5,464
  5,733
Working capital, $m
  396
  21
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  49
  51
  54
  57
  59
  62
  65
  69
  72
  75
Total debt, $m
  2,605
  1,265
  1,384
  1,512
  1,650
  1,796
  1,953
  2,119
  2,295
  2,482
  2,681
  2,890
  3,112
  3,346
  3,593
  3,854
  4,128
  4,418
  4,723
  5,044
  5,382
  5,738
  6,112
  6,506
  6,920
  7,356
  7,814
  8,295
  8,801
  9,333
  9,891
Total liabilities, $m
  4,608
  3,268
  3,387
  3,515
  3,653
  3,799
  3,956
  4,122
  4,298
  4,485
  4,684
  4,893
  5,115
  5,349
  5,596
  5,857
  6,131
  6,421
  6,726
  7,047
  7,385
  7,741
  8,115
  8,509
  8,923
  9,359
  9,817
  10,298
  10,804
  11,336
  11,894
Total equity, $m
  -611
  363
  376
  391
  406
  422
  440
  458
  478
  498
  520
  544
  568
  594
  622
  651
  681
  713
  747
  783
  821
  860
  902
  945
  991
  1,040
  1,091
  1,144
  1,200
  1,260
  1,322
Total liabilities and equity, $m
  3,997
  3,631
  3,763
  3,906
  4,059
  4,221
  4,396
  4,580
  4,776
  4,983
  5,204
  5,437
  5,683
  5,943
  6,218
  6,508
  6,812
  7,134
  7,473
  7,830
  8,206
  8,601
  9,017
  9,454
  9,914
  10,399
  10,908
  11,442
  12,004
  12,596
  13,216
Debt-to-equity ratio
  -4.264
  3.480
  3.680
  3.870
  4.060
  4.260
  4.440
  4.630
  4.810
  4.980
  5.150
  5.320
  5.480
  5.630
  5.780
  5.920
  6.060
  6.190
  6.320
  6.440
  6.560
  6.670
  6.780
  6.880
  6.980
  7.070
  7.160
  7.250
  7.330
  7.410
  7.480
Adjusted equity ratio
  -0.314
  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
  -4
  -613
  -536
  -560
  -585
  -612
  -641
  -672
  -705
  -740
  -777
  -768
  -809
  -853
  -899
  -947
  -998
  -1,052
  -1,109
  -1,169
  -1,232
  -1,299
  -1,369
  -1,442
  -1,520
  -1,601
  -1,686
  -1,776
  -1,871
  -1,970
  -2,074
Depreciation, amort., depletion, $m
  164
  177
  182
  187
  193
  198
  204
  211
  218
  225
  233
  193
  202
  211
  221
  231
  242
  254
  266
  278
  292
  306
  321
  336
  353
  370
  388
  407
  427
  448
  470
Funds from operations, $m
  -77
  -435
  -354
  -372
  -393
  -414
  -437
  -461
  -487
  -514
  -544
  -574
  -607
  -641
  -678
  -716
  -756
  -799
  -844
  -891
  -941
  -993
  -1,048
  -1,106
  -1,167
  -1,231
  -1,299
  -1,369
  -1,444
  -1,522
  -1,604
Change in working capital, $m
  -170
  1
  1
  1
  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
Cash from operations, $m
  93
  -318
  -355
  -373
  -393
  -415
  -438
  -462
  -488
  -516
  -545
  -576
  -608
  -643
  -679
  -717
  -758
  -801
  -846
  -893
  -943
  -995
  -1,050
  -1,109
  -1,170
  -1,234
  -1,301
  -1,372
  -1,447
  -1,526
  -1,608
Maintenance CAPEX, $m
  0
  -125
  -129
  -134
  -139
  -144
  -150
  -156
  -163
  -170
  -177
  -185
  -193
  -202
  -211
  -221
  -231
  -242
  -254
  -266
  -278
  -292
  -306
  -321
  -336
  -353
  -370
  -388
  -407
  -427
  -448
New CAPEX, $m
  -375
  -51
  -57
  -62
  -66
  -71
  -75
  -80
  -85
  -90
  -96
  -101
  -107
  -113
  -119
  -126
  -132
  -140
  -147
  -155
  -163
  -171
  -180
  -190
  -200
  -210
  -221
  -232
  -244
  -256
  -269
Cash from investing activities, $m
  -385
  -176
  -186
  -196
  -205
  -215
  -225
  -236
  -248
  -260
  -273
  -286
  -300
  -315
  -330
  -347
  -363
  -382
  -401
  -421
  -441
  -463
  -486
  -511
  -536
  -563
  -591
  -620
  -651
  -683
  -717
Free cash flow, $m
  -292
  -494
  -541
  -569
  -598
  -630
  -663
  -699
  -736
  -776
  -818
  -862
  -908
  -958
  -1,010
  -1,064
  -1,122
  -1,182
  -1,246
  -1,313
  -1,384
  -1,459
  -1,537
  -1,619
  -1,705
  -1,796
  -1,892
  -1,992
  -2,098
  -2,209
  -2,325
Issuance/(repayment) of debt, $m
  -229
  -1,227
  119
  128
  137
  147
  156
  166
  177
  187
  198
  210
  222
  234
  247
  261
  275
  290
  305
  321
  338
  356
  374
  394
  414
  435
  458
  481
  506
  532
  559
Issuance/(repurchase) of shares, $m
  396
  2,695
  435
  455
  476
  500
  524
  551
  579
  609
  641
  675
  711
  750
  790
  833
  878
  925
  975
  1,028
  1,084
  1,142
  1,204
  1,269
  1,337
  1,409
  1,485
  1,564
  1,648
  1,736
  1,828
Cash from financing (excl. dividends), $m  
  153
  1,468
  554
  583
  613
  647
  680
  717
  756
  796
  839
  885
  933
  984
  1,037
  1,094
  1,153
  1,215
  1,280
  1,349
  1,422
  1,498
  1,578
  1,663
  1,751
  1,844
  1,943
  2,045
  2,154
  2,268
  2,387
Total cash flow (excl. dividends), $m
  -136
  -1,721
  -422
  -441
  -461
  -483
  -507
  -532
  -560
  -589
  -619
  -652
  -687
  -724
  -762
  -804
  -847
  -893
  -941
  -992
  -1,046
  -1,103
  -1,162
  -1,225
  -1,291
  -1,361
  -1,434
  -1,511
  -1,592
  -1,677
  -1,766
Retained Cash Flow (-), $m
  29
  -1,351
  -13
  -14
  -15
  -16
  -17
  -18
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -59
  -62
Prev. year cash balance distribution, $m
 
  377
  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
 
  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
Discount rate, %
 
  14.30
  15.02
  15.77
  16.55
  17.38
  18.25
  19.16
  20.12
  21.13
  22.18
  23.29
  24.46
  25.68
  26.96
  28.31
  29.73
  31.22
  32.78
  34.41
  36.14
  37.94
  39.84
  41.83
  43.92
  46.12
  48.42
  50.85
  53.39
  56.06
  58.86
PV of cash for 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
Current shareholders' claim on cash, %
  100
  50.0
  22.7
  10.3
  4.6
  2.1
  0.9
  0.4
  0.2
  0.1
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry. The Packaging & Automotive Rolled Products segment produces rolled aluminum products, including can stock and closure stock for the beverage and food industry, and foil stock for the flexible packaging market. It also supplies automotive sheets, heat exchangers, and sheet and coils for the building and constructions markets. The Aerospace & Transportation segment provides aluminum and specialty materials products, including aerospace plates and sheets, aerospace wingskins, plates for general engineering, and sheets for transportation applications, as well as other extrusions and precision casting products. This segment serves aerospace, transportation, industry, and defense sectors. The Automotive Structures & Industry segment offers crash management systems, side impact beams, body structures, and cockpit carriers; and soft and hard alloy extrusions, and large profiles for automotive, rail, road, energy, building, and industrial applications. This segment also provides downstream technology and services, which include pre-machining, surface treatment, research and development, and technical support services. The company sells its products directly or through distributors in France, Germany, the Czech Republic, the United Kingdom, Switzerland, Italy, and the United States, as well as Tokyo, Shanghai, Seoul, and Singapore. Constellium N.V. was incorporated in 2010 and is headquartered in Schiphol-Rijk, the Netherlands.

FINANCIAL RATIOS  of  Constellium Cl A (CSTM)

Valuation Ratios
P/E Ratio -172.9
Price to Sales 0.1
Price to Book -1.1
Price to Tangible Book
Price to Cash Flow 7.4
Price to Free Cash Flow -2.5
Growth Rates
Sales Growth Rate -8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.6%
Cap. Spend. - 3 Yr. Gr. Rate 19.8%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity -407.9%
Total Debt to Equity -426.4%
Interest Coverage 1
Management Effectiveness
Return On Assets -0.4%
Ret/ On Assets - 3 Yr. Avg. -3.3%
Return On Total Capital -0.2%
Ret/ On T. Cap. - 3 Yr. Avg. -10.7%
Return On Equity 0.7%
Return On Equity - 3 Yr. Avg. -264.8%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 10.9%
Gross Margin - 3 Yr. Avg. 10.9%
EBITDA Margin 8.3%
EBITDA Margin - 3 Yr. Avg. 2.5%
Operating Margin 5.2%
Oper. Margin - 3 Yr. Avg. 0.3%
Pre-Tax Margin 1.4%
Pre-Tax Margin - 3 Yr. Avg. -2.5%
Net Profit Margin -0.1%
Net Profit Margin - 3 Yr. Avg. -3.1%
Effective Tax Rate 105.8%
Eff/ Tax Rate - 3 Yr. Avg. 50.6%
Payout Ratio 0%

CSTM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CSTM stock intrinsic value calculation we used $5006 million for the last fiscal year's total revenue generated by Constellium Cl A. The default revenue input number comes from 2016 income statement of Constellium Cl A. 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 CSTM stock valuation model: a) initial revenue growth rate of 3.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14.3%, whose default value for CSTM is calculated based on our internal credit rating of Constellium Cl A, 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 Constellium Cl A.
    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 CSTM stock the variable cost ratio is equal to 108.3%.

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 CSTM 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 7.4% for Constellium Cl A.

Corporate tax rate of 27% is the nominal tax rate for Constellium Cl A. 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 CSTM 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 CSTM are equal to 30.4%.

Life of production assets of 12.2 years is the average useful life of capital assets used in Constellium Cl A 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 CSTM 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 - $-611 million for Constellium Cl A - 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 103.738 million for Constellium Cl A 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 Constellium Cl A at the current share price and the inputted number of shares is $0.7 billion.


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COMPANY NEWS

▶ Constellium tops Street 1Q forecasts   [Apr-27-17 05:00AM  Associated Press]
▶ Why Constellium Stock Just Jumped Nearly 9%   [Apr-25-17 05:47PM  Motley Fool]
▶ ETFs with exposure to Constellium NV : April 13, 2017   [Apr-13-17 12:33PM  Capital Cube]
▶ 3 Industrial Stocks Struggling in March   [Mar-31-17 11:04AM  Motley Fool]
▶ 3 Industrial Stocks Struggling in March   [11:04AM  at Motley Fool]
▶ ETFs with exposure to Constellium NV : March 30, 2017   [Mar-29-17 08:29PM  Capital Cube]
▶ Alcoa Will Be an Excellent Income Stock to Buy This Year   [Mar-27-17 01:48PM  TheStreet.com]
▶ Constellium Publishes Dutch Annual Report 2016   [Mar-23-17 05:00PM  PR Newswire]
▶ 4 Stocks Under $10 Setting Up to Break Out   [Mar-16-17 10:15PM  TheStreet.com]
▶ Why Constellium Stock Is Down 12% Today   [12:00PM  Motley Fool]
▶ Why Constellium Stock Is Down 12% Today   [12:00PM  at Motley Fool]
▶ Why Constellium NV's Shares Popped 15% Today   [Feb-13-17 04:55PM  at Motley Fool]
▶ Constellium Prices Notes Offering   [Feb-02-17 04:20PM  PR Newswire]
▶ Constellium Launches Notes Offering   [04:40PM  PR Newswire]
▶ Is Encore Wire Corporation (WIRE) A Good Stock To Buy?   [Dec-12-16 05:12PM  at Insider Monkey]
▶ Constellium NV (CSTM): This Metric Is Giving A Huge Buy Signal   [Nov-30-16 09:16PM  at Insider Monkey]
▶ [$$] Noranda Aluminum Announces Winner in Bankruptcy Auction   [Oct-21-16 03:54PM  at The Wall Street Journal]
▶ Investor Alert: Can Arconic Navigate Its Short-Term Challenges?   [Sep-22-16 10:04AM  at Market Realist]
▶ Do the Markets Really Want Alcoa to Split into 2 Companies?   [Sep-20-16 04:30PM  at Market Realist]
▶ [$$] Aluminium: dull shine   [Aug-30-16 05:41AM  at Financial Times]
▶ Why Is Arconic Choosing Growth over Margins?   [Jul-20-16 11:06AM  at Market Realist]
Stock chart of CSTM Financial statements of CSTM
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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