Intrinsic value of Deluxe Corp. - DLX

Previous Close

$68.17

  Intrinsic Value

$111.77

stock screener

  Rating & Target

str. buy

+64%

  Value-price divergence*

-16%

Previous close

$68.17

 
Intrinsic value

$111.77

 
Up/down potential

+64%

 
Rating

str. buy

 
Value-price divergence*

-16%

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

We calculate the intrinsic value of DLX 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 3.2

 

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, %
  4.29
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
Revenue, $m
  1,849
  1,965
  2,087
  2,213
  2,345
  2,482
  2,625
  2,774
  2,930
  3,093
  3,264
  3,442
  3,628
  3,822
  4,026
  4,239
  4,463
  4,697
  4,942
  5,198
  5,467
  5,749
  6,045
  6,355
  6,680
  7,021
  7,379
  7,754
  8,147
  8,560
  8,994
Variable operating expenses, $m
 
  1,571
  1,661
  1,755
  1,853
  1,955
  2,062
  2,173
  2,288
  2,410
  2,536
  2,558
  2,696
  2,841
  2,992
  3,151
  3,317
  3,490
  3,673
  3,863
  4,063
  4,273
  4,493
  4,723
  4,965
  5,218
  5,484
  5,763
  6,055
  6,362
  6,684
Fixed operating expenses, $m
 
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  7
  8
  8
  8
  8
  8
Total operating expenses, $m
  1,488
  1,575
  1,665
  1,759
  1,857
  1,960
  2,067
  2,178
  2,293
  2,415
  2,541
  2,563
  2,701
  2,847
  2,998
  3,157
  3,323
  3,496
  3,679
  3,869
  4,070
  4,280
  4,500
  4,730
  4,972
  5,225
  5,492
  5,771
  6,063
  6,370
  6,692
Operating income, $m
  361
  390
  421
  453
  487
  522
  559
  597
  637
  679
  722
  879
  926
  976
  1,028
  1,083
  1,140
  1,200
  1,263
  1,329
  1,398
  1,470
  1,546
  1,625
  1,708
  1,796
  1,887
  1,984
  2,084
  2,190
  2,301
EBITDA, $m
  473
  536
  569
  603
  639
  677
  716
  757
  800
  845
  891
  940
  991
  1,044
  1,100
  1,158
  1,220
  1,284
  1,351
  1,421
  1,495
  1,572
  1,653
  1,738
  1,827
  1,921
  2,019
  2,122
  2,229
  2,343
  2,461
Interest expense (income), $m
  21
  25
  28
  31
  34
  37
  40
  44
  47
  51
  55
  59
  63
  68
  73
  77
  83
  88
  93
  99
  106
  112
  119
  126
  133
  141
  149
  158
  167
  176
  186
Earnings before tax, $m
  340
  365
  393
  422
  453
  485
  519
  553
  590
  628
  667
  819
  863
  908
  956
  1,006
  1,058
  1,112
  1,169
  1,229
  1,292
  1,358
  1,427
  1,499
  1,575
  1,655
  1,738
  1,826
  1,918
  2,014
  2,115
Tax expense, $m
  111
  98
  106
  114
  122
  131
  140
  149
  159
  169
  180
  221
  233
  245
  258
  271
  286
  300
  316
  332
  349
  367
  385
  405
  425
  447
  469
  493
  518
  544
  571
Net income, $m
  229
  266
  287
  308
  331
  354
  379
  404
  430
  458
  487
  598
  630
  663
  698
  734
  772
  812
  854
  897
  943
  991
  1,042
  1,094
  1,150
  1,208
  1,269
  1,333
  1,400
  1,470
  1,544

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  77
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,184
  2,239
  2,377
  2,521
  2,670
  2,827
  2,990
  3,160
  3,338
  3,523
  3,717
  3,920
  4,132
  4,354
  4,586
  4,829
  5,083
  5,349
  5,628
  5,921
  6,227
  6,548
  6,885
  7,238
  7,608
  7,997
  8,404
  8,831
  9,280
  9,750
  10,243
Adjusted assets (=assets-cash), $m
  2,107
  2,239
  2,377
  2,521
  2,670
  2,827
  2,990
  3,160
  3,338
  3,523
  3,717
  3,920
  4,132
  4,354
  4,586
  4,829
  5,083
  5,349
  5,628
  5,921
  6,227
  6,548
  6,885
  7,238
  7,608
  7,997
  8,404
  8,831
  9,280
  9,750
  10,243
Revenue / Adjusted assets
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
Average production assets, $m
  434
  462
  490
  520
  551
  583
  617
  652
  689
  727
  767
  809
  853
  898
  946
  996
  1,049
  1,104
  1,161
  1,222
  1,285
  1,351
  1,421
  1,493
  1,570
  1,650
  1,734
  1,822
  1,915
  2,012
  2,113
Working capital, $m
  -18
  -63
  -67
  -71
  -75
  -79
  -84
  -89
  -94
  -99
  -104
  -110
  -116
  -122
  -129
  -136
  -143
  -150
  -158
  -166
  -175
  -184
  -193
  -203
  -214
  -225
  -236
  -248
  -261
  -274
  -288
Total debt, $m
  759
  801
  884
  971
  1,061
  1,155
  1,253
  1,355
  1,462
  1,573
  1,690
  1,812
  1,939
  2,072
  2,212
  2,358
  2,511
  2,671
  2,839
  3,014
  3,199
  3,392
  3,594
  3,806
  4,029
  4,262
  4,507
  4,764
  5,033
  5,316
  5,612
Total liabilities, $m
  1,303
  1,345
  1,428
  1,515
  1,605
  1,699
  1,797
  1,899
  2,006
  2,117
  2,234
  2,356
  2,483
  2,616
  2,756
  2,902
  3,055
  3,215
  3,383
  3,558
  3,743
  3,936
  4,138
  4,350
  4,573
  4,806
  5,051
  5,308
  5,577
  5,860
  6,156
Total equity, $m
  881
  893
  948
  1,006
  1,066
  1,128
  1,193
  1,261
  1,332
  1,406
  1,483
  1,564
  1,649
  1,737
  1,830
  1,927
  2,028
  2,134
  2,246
  2,362
  2,485
  2,613
  2,747
  2,888
  3,036
  3,191
  3,353
  3,524
  3,703
  3,890
  4,087
Total liabilities and equity, $m
  2,184
  2,238
  2,376
  2,521
  2,671
  2,827
  2,990
  3,160
  3,338
  3,523
  3,717
  3,920
  4,132
  4,353
  4,586
  4,829
  5,083
  5,349
  5,629
  5,920
  6,228
  6,549
  6,885
  7,238
  7,609
  7,997
  8,404
  8,832
  9,280
  9,750
  10,243
Debt-to-equity ratio
  0.862
  0.900
  0.930
  0.970
  1.000
  1.020
  1.050
  1.070
  1.100
  1.120
  1.140
  1.160
  1.180
  1.190
  1.210
  1.220
  1.240
  1.250
  1.260
  1.280
  1.290
  1.300
  1.310
  1.320
  1.330
  1.340
  1.340
  1.350
  1.360
  1.370
  1.370
Adjusted equity ratio
  0.382
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399
  0.399

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  229
  266
  287
  308
  331
  354
  379
  404
  430
  458
  487
  598
  630
  663
  698
  734
  772
  812
  854
  897
  943
  991
  1,042
  1,094
  1,150
  1,208
  1,269
  1,333
  1,400
  1,470
  1,544
Depreciation, amort., depletion, $m
  112
  146
  148
  150
  152
  155
  157
  160
  163
  166
  169
  61
  65
  68
  72
  75
  79
  84
  88
  93
  97
  102
  108
  113
  119
  125
  131
  138
  145
  152
  160
Funds from operations, $m
  268
  412
  435
  458
  483
  509
  536
  564
  593
  624
  656
  659
  694
  731
  769
  810
  852
  896
  942
  990
  1,041
  1,094
  1,149
  1,208
  1,269
  1,333
  1,400
  1,471
  1,545
  1,623
  1,704
Change in working capital, $m
  -51
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
Cash from operations, $m
  319
  416
  439
  462
  487
  513
  540
  569
  598
  629
  661
  665
  700
  737
  776
  816
  859
  903
  949
  998
  1,049
  1,103
  1,159
  1,218
  1,279
  1,344
  1,412
  1,483
  1,558
  1,636
  1,718
Maintenance CAPEX, $m
  0
  -33
  -35
  -37
  -39
  -42
  -44
  -47
  -49
  -52
  -55
  -58
  -61
  -65
  -68
  -72
  -75
  -79
  -84
  -88
  -93
  -97
  -102
  -108
  -113
  -119
  -125
  -131
  -138
  -145
  -152
New CAPEX, $m
  -47
  -28
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -58
  -60
  -63
  -66
  -69
  -73
  -76
  -80
  -84
  -88
  -92
  -97
  -102
Cash from investing activities, $m
  -311
  -61
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -90
  -95
  -100
  -105
  -111
  -116
  -122
  -127
  -134
  -142
  -148
  -156
  -163
  -171
  -181
  -189
  -199
  -209
  -219
  -230
  -242
  -254
Free cash flow, $m
  8
  355
  375
  396
  417
  439
  463
  487
  512
  539
  566
  565
  595
  627
  660
  695
  731
  769
  808
  850
  893
  939
  987
  1,037
  1,090
  1,145
  1,203
  1,263
  1,327
  1,394
  1,464
Issuance/(repayment) of debt, $m
  117
  78
  83
  86
  90
  94
  98
  102
  107
  112
  117
  122
  127
  133
  139
  146
  153
  160
  168
  176
  184
  193
  202
  212
  223
  233
  245
  257
  269
  283
  297
Issuance/(repurchase) of shares, $m
  -46
  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  
  63
  78
  83
  86
  90
  94
  98
  102
  107
  112
  117
  122
  127
  133
  139
  146
  153
  160
  168
  176
  184
  193
  202
  212
  223
  233
  245
  257
  269
  283
  297
Total cash flow (excl. dividends), $m
  73
  433
  458
  482
  507
  533
  561
  589
  619
  650
  683
  687
  723
  760
  799
  841
  884
  929
  976
  1,026
  1,078
  1,132
  1,189
  1,249
  1,312
  1,378
  1,447
  1,520
  1,596
  1,676
  1,760
Retained Cash Flow (-), $m
  -136
  -53
  -55
  -57
  -60
  -62
  -65
  -68
  -71
  -74
  -77
  -81
  -85
  -88
  -93
  -97
  -101
  -106
  -111
  -117
  -122
  -128
  -134
  -141
  -148
  -155
  -163
  -170
  -179
  -188
  -197
Prev. year cash balance distribution, $m
 
  41
  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
 
  421
  403
  425
  447
  471
  496
  521
  548
  576
  605
  606
  638
  672
  707
  744
  782
  822
  865
  909
  955
  1,004
  1,055
  1,108
  1,164
  1,223
  1,285
  1,350
  1,418
  1,489
  1,564
Discount rate, %
 
  5.20
  5.46
  5.73
  6.02
  6.32
  6.64
  6.97
  7.32
  7.68
  8.07
  8.47
  8.89
  9.34
  9.81
  10.30
  10.81
  11.35
  11.92
  12.51
  13.14
  13.80
  14.49
  15.21
  15.97
  16.77
  17.61
  18.49
  19.41
  20.38
  21.40
PV of cash for distribution, $m
 
  400
  362
  359
  354
  347
  337
  325
  312
  296
  279
  248
  230
  210
  191
  171
  151
  132
  114
  97
  81
  67
  54
  43
  33
  25
  19
  14
  10
  7
  5
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

Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, stamps, and labels, as well as checkbook covers. It also offers Web services, which include logo and Web design; hosting and other Web services; search engine optimization; and marketing programs, including email, mobile, and social media, and other self-service marketing solutions. In addition, the company provides fraud protection and security, online and offline payroll services, and electronic checks; and promotional solutions, such as postcards, brochures, retail packaging supplies, apparel, greeting cards, and business cards. Further, it offers financial technology solutions to larger financial institutions, which comprise data-driven marketing solutions, including outsourced marketing campaign targeting and execution; treasury management solutions; and digital enablement solutions, including loyalty and rewards programs. It operates in the United States, Canada, Europe, and North and South America. The company was formerly known as Deluxe Check Printers, Incorporated and changed its name to Deluxe Corporation in 1988. Deluxe Corporation was founded in 1915 and is headquartered in Shoreview, Minnesota.

FINANCIAL RATIOS  of  Deluxe Corp. (DLX)

Valuation Ratios
P/E Ratio 14.5
Price to Sales 1.8
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 10.4
Price to Free Cash Flow 12.2
Growth Rates
Sales Growth Rate 4.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 9.3%
Cap. Spend. - 3 Yr. Gr. Rate 4.9%
Financial Strength
Quick Ratio 2
Current Ratio 0.3
LT Debt to Equity 82.1%
Total Debt to Equity 86.2%
Interest Coverage 17
Management Effectiveness
Return On Assets 12.1%
Ret/ On Assets - 3 Yr. Avg. 13.3%
Return On Total Capital 15.2%
Ret/ On T. Cap. - 3 Yr. Avg. 16.3%
Return On Equity 28.2%
Return On Equity - 3 Yr. Avg. 31%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 63.9%
Gross Margin - 3 Yr. Avg. 63.9%
EBITDA Margin 25.6%
EBITDA Margin - 3 Yr. Avg. 25.6%
Operating Margin 19.5%
Oper. Margin - 3 Yr. Avg. 19.6%
Pre-Tax Margin 18.4%
Pre-Tax Margin - 3 Yr. Avg. 18.2%
Net Profit Margin 12.4%
Net Profit Margin - 3 Yr. Avg. 12.2%
Effective Tax Rate 32.6%
Eff/ Tax Rate - 3 Yr. Avg. 32.8%
Payout Ratio 25.8%

DLX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DLX stock intrinsic value calculation we used $1849 million for the last fiscal year's total revenue generated by Deluxe Corp.. The default revenue input number comes from 2016 income statement of Deluxe Corp.. 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 DLX stock valuation model: a) initial revenue growth rate of 6.3% 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 5.2%, whose default value for DLX is calculated based on our internal credit rating of Deluxe Corp., 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 Deluxe Corp..
    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 DLX stock the variable cost ratio is equal to 80.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $4 million in the base year in the intrinsic value calculation for DLX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Deluxe Corp..

Corporate tax rate of 27% is the nominal tax rate for Deluxe Corp.. 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 DLX 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 DLX are equal to 23.5%.

Life of production assets of 13.2 years is the average useful life of capital assets used in Deluxe Corp. 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 DLX is equal to -3.2%. 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 - $881 million for Deluxe Corp. - 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 47.233 million for Deluxe Corp. 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 Deluxe Corp. at the current share price and the inputted number of shares is $3.2 billion.

RELATED COMPANIES Price Int.Val. Rating
EBF Ennis 18.55 20.48  hold
RRD R.R. Donnelley 8.66 3.24  str.sell
QUAD Quad/Graphics 18.35 2.13  str.sell
CMPR Cimpress 88.57 145.56  str.buy
WEB Web.com Group 24.00 92.83  str.buy
INTU Intuit 134.11 68.26  sell
ODP Office Depot 4.12 6.41  hold
FIS Fidelity Natio 89.83 64.61  sell

COMPANY NEWS

▶ ETFs with exposure to Deluxe Corp. : August 15, 2017   [Aug-15-17 03:59PM  Capital Cube]
▶ Deluxe posts 2Q profit   [Jul-28-17 01:34AM  Associated Press]
▶ Deluxe Corp. Value Analysis (NYSE:DLX) : July 11, 2017   [Jul-11-17 03:27PM  Capital Cube]
▶ ETFs with exposure to Deluxe Corp. : June 15, 2017   [Jun-15-17 01:43PM  Capital Cube]
▶ ETFs with exposure to Deluxe Corp. : May 25, 2017   [May-25-17 12:38PM  Capital Cube]
▶ ETFs with exposure to Deluxe Corp. : May 12, 2017   [May-12-17 03:53PM  Capital Cube]
▶ Deluxe Corp. Value Analysis (NYSE:DLX) : May 1, 2017   [May-01-17 04:55PM  Capital Cube]
▶ Deluxe Corporation Declares Dividend   [04:35PM  Business Wire]
▶ Deluxe Strengthens on Small-Business Strength   [Apr-27-17 10:11AM  Motley Fool]
▶ Deluxe posts 1Q profit   [08:52AM  Associated Press]
▶ Deluxe Announces Q1 2017 Earnings Release Information   [Apr-13-17 08:30AM  Business Wire]
▶ Deluxe Corp. announces Keith Bush as new CFO   [Mar-16-17 03:24PM  at bizjournals.com]
▶ Deluxe Corp. announces Keith Bush as new CFO   [03:24PM  American City Business Journals]
▶ Company Profile for Deluxe Corporation   [Mar-03-17 10:40AM  Business Wire]
▶ Deluxe Looks for Faster Growth in 2017   [01:21PM  at Motley Fool]
▶ Deluxe Announces Q4 2016 Earnings Release Information   [Jan-12-17 08:30AM  Business Wire]
▶ Hedge Funds Are Dumping Deluxe Corporation (DLX)   [Dec-06-16 10:29AM  at Insider Monkey]
▶ Deluxe Corporation Declares Dividend   [Oct-18-16 05:19PM  Business Wire]
▶ Deluxe Announces Q3 2016 Earnings Release Information   [Oct-06-16 08:30AM  Business Wire]
Stock chart of DLX Financial statements of DLX
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.