Intrinsic value of Catalent - CTLT

Previous Close

$28.08

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$28.08

 
Intrinsic value

$15.39

 
Up/down potential

-45%

 
Rating

sell

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of CTLT 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 3.5

 

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, %
  0.93
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.40
  5.36
  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
  5.08
  5.07
  5.07
Revenue, $m
  1,848
  1,966
  2,089
  2,218
  2,351
  2,490
  2,635
  2,787
  2,945
  3,110
  3,282
  3,462
  3,650
  3,847
  4,053
  4,269
  4,495
  4,731
  4,979
  5,238
  5,510
  5,795
  6,094
  6,407
  6,735
  7,079
  7,440
  7,819
  8,216
  8,633
  9,070
Variable operating expenses, $m
 
  1,726
  1,828
  1,934
  2,044
  2,159
  2,279
  2,404
  2,535
  2,672
  2,814
  2,863
  3,019
  3,182
  3,352
  3,531
  3,717
  3,913
  4,118
  4,332
  4,557
  4,793
  5,040
  5,299
  5,570
  5,855
  6,153
  6,467
  6,795
  7,140
  7,502
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,630
  1,726
  1,828
  1,934
  2,044
  2,159
  2,279
  2,404
  2,535
  2,672
  2,814
  2,863
  3,019
  3,182
  3,352
  3,531
  3,717
  3,913
  4,118
  4,332
  4,557
  4,793
  5,040
  5,299
  5,570
  5,855
  6,153
  6,467
  6,795
  7,140
  7,502
Operating income, $m
  218
  240
  262
  284
  307
  331
  356
  382
  410
  438
  468
  599
  631
  665
  701
  738
  777
  818
  861
  906
  953
  1,002
  1,054
  1,108
  1,165
  1,224
  1,287
  1,352
  1,421
  1,493
  1,569
EBITDA, $m
  359
  422
  448
  476
  504
  534
  565
  598
  631
  667
  704
  742
  783
  825
  869
  915
  964
  1,015
  1,068
  1,123
  1,182
  1,243
  1,307
  1,374
  1,444
  1,518
  1,596
  1,677
  1,762
  1,851
  1,945
Interest expense (income), $m
  82
  81
  87
  94
  102
  110
  118
  126
  135
  144
  153
  163
  174
  185
  196
  208
  220
  233
  247
  261
  276
  292
  308
  326
  344
  363
  383
  403
  425
  448
  472
Earnings before tax, $m
  145
  160
  174
  189
  205
  221
  238
  256
  275
  294
  315
  435
  458
  481
  505
  530
  557
  585
  614
  645
  677
  710
  745
  782
  821
  862
  904
  949
  996
  1,045
  1,097
Tax expense, $m
  34
  43
  47
  51
  55
  60
  64
  69
  74
  79
  85
  118
  124
  130
  136
  143
  150
  158
  166
  174
  183
  192
  201
  211
  222
  233
  244
  256
  269
  282
  296
Net income, $m
  112
  117
  127
  138
  150
  162
  174
  187
  201
  215
  230
  318
  334
  351
  369
  387
  407
  427
  448
  471
  494
  519
  544
  571
  599
  629
  660
  693
  727
  763
  800

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  132
  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
  3,091
  3,146
  3,343
  3,548
  3,762
  3,984
  4,216
  4,459
  4,711
  4,975
  5,251
  5,539
  5,841
  6,156
  6,485
  6,830
  7,192
  7,570
  7,966
  8,381
  8,816
  9,272
  9,750
  10,251
  10,776
  11,327
  11,904
  12,510
  13,146
  13,813
  14,513
Adjusted assets (=assets-cash), $m
  2,959
  3,146
  3,343
  3,548
  3,762
  3,984
  4,216
  4,459
  4,711
  4,975
  5,251
  5,539
  5,841
  6,156
  6,485
  6,830
  7,192
  7,570
  7,966
  8,381
  8,816
  9,272
  9,750
  10,251
  10,776
  11,327
  11,904
  12,510
  13,146
  13,813
  14,513
Revenue / Adjusted assets
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
  0.625
Average production assets, $m
  1,227
  1,306
  1,387
  1,472
  1,561
  1,653
  1,750
  1,850
  1,955
  2,065
  2,179
  2,299
  2,424
  2,555
  2,691
  2,835
  2,985
  3,142
  3,306
  3,478
  3,659
  3,848
  4,046
  4,254
  4,472
  4,701
  4,940
  5,192
  5,456
  5,732
  6,023
Working capital, $m
  399
  315
  334
  355
  376
  398
  422
  446
  471
  498
  525
  554
  584
  616
  649
  683
  719
  757
  797
  838
  882
  927
  975
  1,025
  1,078
  1,133
  1,190
  1,251
  1,315
  1,381
  1,451
Total debt, $m
  1,861
  1,986
  2,147
  2,315
  2,491
  2,673
  2,863
  3,062
  3,269
  3,486
  3,712
  3,948
  4,195
  4,454
  4,724
  5,007
  5,303
  5,613
  5,938
  6,279
  6,635
  7,009
  7,401
  7,811
  8,242
  8,694
  9,168
  9,665
  10,186
  10,733
  11,306
Total liabilities, $m
  2,455
  2,580
  2,741
  2,909
  3,085
  3,267
  3,457
  3,656
  3,863
  4,080
  4,306
  4,542
  4,789
  5,048
  5,318
  5,601
  5,897
  6,207
  6,532
  6,873
  7,229
  7,603
  7,995
  8,405
  8,836
  9,288
  9,762
  10,259
  10,780
  11,327
  11,900
Total equity, $m
  636
  566
  602
  639
  677
  717
  759
  803
  848
  896
  945
  997
  1,051
  1,108
  1,167
  1,229
  1,295
  1,363
  1,434
  1,509
  1,587
  1,669
  1,755
  1,845
  1,940
  2,039
  2,143
  2,252
  2,366
  2,486
  2,612
Total liabilities and equity, $m
  3,091
  3,146
  3,343
  3,548
  3,762
  3,984
  4,216
  4,459
  4,711
  4,976
  5,251
  5,539
  5,840
  6,156
  6,485
  6,830
  7,192
  7,570
  7,966
  8,382
  8,816
  9,272
  9,750
  10,250
  10,776
  11,327
  11,905
  12,511
  13,146
  13,813
  14,512
Debt-to-equity ratio
  2.926
  3.510
  3.570
  3.630
  3.680
  3.730
  3.770
  3.820
  3.860
  3.890
  3.930
  3.960
  3.990
  4.020
  4.050
  4.070
  4.100
  4.120
  4.140
  4.160
  4.180
  4.200
  4.220
  4.230
  4.250
  4.260
  4.280
  4.290
  4.300
  4.320
  4.330
Adjusted equity ratio
  0.170
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  112
  117
  127
  138
  150
  162
  174
  187
  201
  215
  230
  318
  334
  351
  369
  387
  407
  427
  448
  471
  494
  519
  544
  571
  599
  629
  660
  693
  727
  763
  800
Depreciation, amort., depletion, $m
  141
  181
  186
  192
  197
  203
  209
  215
  222
  229
  236
  144
  151
  160
  168
  177
  187
  196
  207
  217
  229
  240
  253
  266
  279
  294
  309
  324
  341
  358
  376
Funds from operations, $m
  53
  298
  314
  330
  347
  365
  383
  402
  423
  444
  466
  462
  486
  511
  537
  564
  593
  623
  655
  688
  723
  759
  797
  837
  879
  923
  969
  1,017
  1,068
  1,121
  1,177
Change in working capital, $m
  -102
  19
  20
  21
  21
  22
  23
  24
  25
  26
  28
  29
  30
  32
  33
  35
  36
  38
  40
  42
  43
  46
  48
  50
  53
  55
  58
  61
  64
  67
  70
Cash from operations, $m
  155
  252
  294
  309
  326
  342
  360
  378
  397
  417
  438
  433
  455
  479
  504
  530
  557
  586
  615
  646
  679
  713
  749
  787
  826
  868
  911
  957
  1,004
  1,054
  1,107
Maintenance CAPEX, $m
  0
  -77
  -82
  -87
  -92
  -98
  -103
  -109
  -116
  -122
  -129
  -136
  -144
  -151
  -160
  -168
  -177
  -187
  -196
  -207
  -217
  -229
  -240
  -253
  -266
  -279
  -294
  -309
  -324
  -341
  -358
New CAPEX, $m
  -140
  -79
  -82
  -85
  -89
  -92
  -96
  -101
  -105
  -110
  -114
  -120
  -125
  -131
  -137
  -143
  -150
  -157
  -164
  -172
  -180
  -189
  -198
  -208
  -218
  -229
  -240
  -251
  -264
  -277
  -290
Cash from investing activities, $m
  -138
  -156
  -164
  -172
  -181
  -190
  -199
  -210
  -221
  -232
  -243
  -256
  -269
  -282
  -297
  -311
  -327
  -344
  -360
  -379
  -397
  -418
  -438
  -461
  -484
  -508
  -534
  -560
  -588
  -618
  -648
Free cash flow, $m
  17
  97
  131
  138
  145
  152
  160
  168
  177
  185
  194
  177
  187
  197
  207
  218
  230
  242
  255
  268
  281
  296
  311
  326
  343
  360
  378
  396
  416
  437
  458
Issuance/(repayment) of debt, $m
  -16
  153
  161
  168
  175
  183
  190
  199
  207
  216
  226
  236
  247
  258
  270
  283
  296
  310
  325
  340
  357
  374
  392
  411
  431
  452
  474
  497
  521
  547
  574
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  
  -31
  153
  161
  168
  175
  183
  190
  199
  207
  216
  226
  236
  247
  258
  270
  283
  296
  310
  325
  340
  357
  374
  392
  411
  431
  452
  474
  497
  521
  547
  574
Total cash flow (excl. dividends), $m
  -20
  249
  292
  306
  320
  335
  351
  367
  384
  402
  421
  413
  434
  455
  478
  501
  526
  552
  579
  608
  638
  669
  702
  737
  773
  811
  851
  893
  937
  984
  1,032
Retained Cash Flow (-), $m
  -2
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -90
  -95
  -99
  -104
  -109
  -114
  -120
  -126
Prev. year cash balance distribution, $m
 
  104
  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
 
  319
  257
  269
  282
  295
  309
  323
  338
  354
  371
  361
  380
  399
  418
  439
  461
  484
  508
  533
  560
  587
  616
  647
  679
  712
  747
  784
  823
  863
  906
Discount rate, %
 
  10.30
  10.82
  11.36
  11.92
  12.52
  13.15
  13.80
  14.49
  15.22
  15.98
  16.78
  17.62
  18.50
  19.42
  20.39
  21.41
  22.48
  23.61
  24.79
  26.03
  27.33
  28.70
  30.13
  31.64
  33.22
  34.88
  36.62
  38.45
  40.38
  42.40
PV of cash for distribution, $m
 
  289
  209
  195
  179
  164
  147
  131
  115
  99
  84
  66
  54
  44
  35
  27
  21
  15
  11
  8
  5
  4
  2
  2
  1
  1
  0
  0
  0
  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

Catalent, Inc. provides advanced delivery technologies and development solutions for drugs, biologics, and consumer health products worldwide. It operates through three segments: Softgel Technologies, Drug Delivery Solutions, and Clinical Supply Services. The Softgel Technologies segment provides formulation, development, and manufacturing services for softgels, which are used in a range of customer products, including prescription drugs, over-the-counter medications, dietary supplements, and unit-dose cosmetics. Its principal softgel technologies include traditional softgel capsules, and Vegicaps and OptiShell capsules. The Drug Delivery Solutions segment formulates, develops, and manufactures prescription, and consumer and animal health products using proprietary technologies, including OptiMelt, OptiPact, OptiForm, and Zydis, as well as other proprietary and conventional drug delivery technologies, such as prefilled syringes; manufactures blow-fill seal unit dose, including ADVASEPT technology; develops biologic cell line, including GPEx and SMARTag technologies; and provides analytical and bioanalytical development, and testing services, as well as offers respiratory products formulation and manufacturing, micronization and particle engineering, and regulatory consulting services. The Clinical Supply Services segment provides manufacturing, packaging, storage, distribution, and inventory management for drugs and biologics clinical trials for customer required patient kits. This segment also offers FastChain demand-led clinical supply services; clinical e-solutions and informatics; and comparator sourcing services. The company serves pharmaceutical and biotechnology companies; and consumer health companies, as well as companies in other healthcare market segments, such as animal health and medical devices, and companies in industries, including cosmetics. Catalent, Inc. was founded in 2007 and is headquartered in Somerset, New Jersey.

FINANCIAL RATIOS  of  Catalent (CTLT)

Valuation Ratios
P/E Ratio 31.3
Price to Sales 1.9
Price to Book 5.5
Price to Tangible Book
Price to Cash Flow 22.6
Price to Free Cash Flow 233.5
Growth Rates
Sales Growth Rate 0.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -0.7%
Cap. Spend. - 3 Yr. Gr. Rate 2.6%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 288.2%
Total Debt to Equity 292.6%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.6%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.6%
Return On Equity 17.6%
Return On Equity - 3 Yr. Avg. 58.3%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 31.8%
Gross Margin - 3 Yr. Avg. 32.7%
EBITDA Margin 19.9%
EBITDA Margin - 3 Yr. Avg. 19.8%
Operating Margin 11.8%
Oper. Margin - 3 Yr. Avg. 12.3%
Pre-Tax Margin 7.8%
Pre-Tax Margin - 3 Yr. Avg. 5.9%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 6.2%
Effective Tax Rate 23.4%
Eff/ Tax Rate - 3 Yr. Avg. 3.6%
Payout Ratio 0%

CTLT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CTLT stock intrinsic value calculation we used $1848 million for the last fiscal year's total revenue generated by Catalent. The default revenue input number comes from 2016 income statement of Catalent. 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 CTLT stock valuation model: a) initial revenue growth rate of 6.4% 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 10.3%, whose default value for CTLT is calculated based on our internal credit rating of Catalent, 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 Catalent.
    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 CTLT stock the variable cost ratio is equal to 88.1%.

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 CTLT 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 4.4% for Catalent.

Corporate tax rate of 27% is the nominal tax rate for Catalent. 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 CTLT 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 CTLT are equal to 66.4%.

Life of production assets of 16 years is the average useful life of capital assets used in Catalent 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 CTLT is equal to 16%. 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 - $636 million for Catalent - 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 123.941 million for Catalent 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 Catalent at the current share price and the inputted number of shares is $3.5 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
REPH Recro Pharma 7.87 2.00  str.sell
SNY Sanofi ADR 44.09 39.88  hold
PFE Pfizer 33.64 29.51  hold
AMRI Albany Molecul 15.82 14.31  hold
ZGNX Zogenix 10.70 1.15  str.sell
JNJ Johnson&Johnso 121.76 95.01  sell
GSK GlaxoSmithKlin 40.78 106.53  str.buy

COMPANY NEWS

▶ ETFs with exposure to Catalent, Inc. : February 14, 2017   [Feb-14-17 03:35PM  Capital Cube]
▶ Catalent beats Street 2Q forecasts   [Feb-06-17 04:32PM  Associated Press]
▶ Here is What Hedge Funds Think About Catalent Inc (CTLT)   [Dec-02-16 08:47AM  at Insider Monkey]
▶ What's Causing Catalent's Stock to Crash 13.6% Today   [May-05-16 04:00PM  at Motley Fool]
▶ Catalent misses 3Q profit forecasts   [May-04-16 07:16PM  AP]
▶ CATALENT, INC. Files SEC form 8-K, Other Events   [Apr-29-16 09:38AM  EDGAR Online]
▶ Term Sheet Friday, April 15   [Apr-15-16 10:18AM  at Fortune]
▶ Blackstone's Exit Opportunity   [10:28AM  at Bloomberg]
▶ Catalent Rises on Report Lonza Group Offered to Buy It   [Apr-13-16 03:00PM  at Bloomberg]
Stock chart of CTLT Financial statements of CTLT
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.