Intrinsic value of Masonite International - DOOR

Previous Close

$61.85

  Intrinsic Value

$4.36

stock screener

  Rating & Target

str. sell

-93%

  Value-price divergence*

-35%

Previous close

$61.85

 
Intrinsic value

$4.36

 
Up/down potential

-93%

 
Rating

str. sell

 
Value-price divergence*

-35%

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

We calculate the intrinsic value of DOOR 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 2017), $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 1.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.45
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,974
  2,013
  2,060
  2,113
  2,172
  2,238
  2,310
  2,389
  2,474
  2,566
  2,664
  2,770
  2,882
  3,002
  3,129
  3,264
  3,407
  3,558
  3,719
  3,888
  4,066
  4,255
  4,454
  4,663
  4,884
  5,116
  5,361
  5,619
  5,890
  6,175
  6,475
Variable operating expenses, $m
 
  2,009
  2,055
  2,108
  2,167
  2,232
  2,303
  2,381
  2,466
  2,557
  2,655
  2,746
  2,857
  2,976
  3,102
  3,236
  3,378
  3,528
  3,687
  3,855
  4,032
  4,219
  4,416
  4,623
  4,842
  5,073
  5,315
  5,571
  5,840
  6,123
  6,420
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
  1,821
  2,009
  2,055
  2,108
  2,167
  2,232
  2,303
  2,381
  2,466
  2,557
  2,655
  2,746
  2,857
  2,976
  3,102
  3,236
  3,378
  3,528
  3,687
  3,855
  4,032
  4,219
  4,416
  4,623
  4,842
  5,073
  5,315
  5,571
  5,840
  6,123
  6,420
Operating income, $m
  153
  4
  5
  5
  6
  6
  7
  7
  8
  9
  10
  24
  25
  26
  27
  28
  29
  30
  32
  33
  35
  36
  38
  40
  42
  44
  46
  48
  50
  53
  55
EBITDA, $m
  236
  90
  92
  94
  97
  100
  103
  106
  110
  114
  119
  123
  128
  134
  139
  145
  152
  158
  166
  173
  181
  189
  198
  208
  218
  228
  239
  250
  262
  275
  288
Interest expense (income), $m
  27
  27
  28
  29
  30
  32
  33
  35
  37
  39
  41
  44
  46
  49
  52
  55
  58
  61
  65
  69
  73
  77
  82
  86
  91
  97
  102
  108
  114
  121
  128
Earnings before tax, $m
  127
  -23
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -20
  -22
  -23
  -25
  -27
  -29
  -31
  -33
  -36
  -38
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -64
  -68
  -72
Tax expense, $m
  22
  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
  99
  -23
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -20
  -22
  -23
  -25
  -27
  -29
  -31
  -33
  -36
  -38
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -64
  -68
  -72

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  72
  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
  1,476
  1,432
  1,465
  1,503
  1,545
  1,592
  1,643
  1,699
  1,760
  1,825
  1,895
  1,970
  2,050
  2,135
  2,225
  2,321
  2,423
  2,531
  2,645
  2,765
  2,892
  3,026
  3,168
  3,317
  3,474
  3,639
  3,813
  3,996
  4,189
  4,392
  4,605
Adjusted assets (=assets-cash), $m
  1,404
  1,432
  1,465
  1,503
  1,545
  1,592
  1,643
  1,699
  1,760
  1,825
  1,895
  1,970
  2,050
  2,135
  2,225
  2,321
  2,423
  2,531
  2,645
  2,765
  2,892
  3,026
  3,168
  3,317
  3,474
  3,639
  3,813
  3,996
  4,189
  4,392
  4,605
Revenue / Adjusted assets
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
  1.406
Average production assets, $m
  746
  761
  779
  799
  821
  846
  873
  903
  935
  970
  1,007
  1,047
  1,089
  1,135
  1,183
  1,234
  1,288
  1,345
  1,406
  1,470
  1,537
  1,608
  1,683
  1,763
  1,846
  1,934
  2,027
  2,124
  2,226
  2,334
  2,448
Working capital, $m
  348
  282
  288
  296
  304
  313
  323
  334
  346
  359
  373
  388
  403
  420
  438
  457
  477
  498
  521
  544
  569
  596
  624
  653
  684
  716
  751
  787
  825
  865
  907
Total debt, $m
  476
  492
  511
  534
  559
  586
  616
  649
  685
  724
  765
  809
  856
  907
  960
  1,017
  1,077
  1,140
  1,207
  1,278
  1,353
  1,432
  1,516
  1,604
  1,696
  1,794
  1,897
  2,005
  2,119
  2,238
  2,364
Total liabilities, $m
  829
  845
  864
  887
  912
  939
  969
  1,002
  1,038
  1,077
  1,118
  1,162
  1,209
  1,260
  1,313
  1,370
  1,430
  1,493
  1,560
  1,631
  1,706
  1,785
  1,869
  1,957
  2,049
  2,147
  2,250
  2,358
  2,472
  2,591
  2,717
Total equity, $m
  647
  587
  601
  616
  633
  653
  674
  697
  721
  748
  777
  808
  840
  875
  912
  952
  994
  1,038
  1,084
  1,134
  1,186
  1,241
  1,299
  1,360
  1,424
  1,492
  1,563
  1,638
  1,718
  1,801
  1,888
Total liabilities and equity, $m
  1,476
  1,432
  1,465
  1,503
  1,545
  1,592
  1,643
  1,699
  1,759
  1,825
  1,895
  1,970
  2,049
  2,135
  2,225
  2,322
  2,424
  2,531
  2,644
  2,765
  2,892
  3,026
  3,168
  3,317
  3,473
  3,639
  3,813
  3,996
  4,190
  4,392
  4,605
Debt-to-equity ratio
  0.736
  0.840
  0.850
  0.870
  0.880
  0.900
  0.920
  0.930
  0.950
  0.970
  0.980
  1.000
  1.020
  1.040
  1.050
  1.070
  1.080
  1.100
  1.110
  1.130
  1.140
  1.150
  1.170
  1.180
  1.190
  1.200
  1.210
  1.220
  1.230
  1.240
  1.250
Adjusted equity ratio
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410
  0.410

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  99
  -23
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -20
  -22
  -23
  -25
  -27
  -29
  -31
  -33
  -36
  -38
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -64
  -68
  -72
Depreciation, amort., depletion, $m
  83
  85
  87
  89
  91
  93
  96
  99
  102
  105
  109
  100
  104
  108
  113
  118
  123
  128
  134
  140
  146
  153
  160
  168
  176
  184
  193
  202
  212
  222
  233
Funds from operations, $m
  137
  63
  64
  65
  66
  68
  69
  71
  73
  75
  77
  80
  82
  85
  88
  91
  94
  97
  101
  104
  108
  112
  117
  121
  126
  131
  137
  142
  148
  154
  161
Change in working capital, $m
  -37
  6
  6
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  24
  25
  26
  28
  29
  31
  33
  34
  36
  38
  40
  42
Cash from operations, $m
  174
  57
  57
  58
  58
  59
  59
  60
  61
  62
  64
  65
  66
  68
  70
  72
  74
  76
  78
  81
  83
  86
  89
  92
  95
  99
  102
  106
  110
  114
  119
Maintenance CAPEX, $m
  0
  -71
  -72
  -74
  -76
  -78
  -81
  -83
  -86
  -89
  -92
  -96
  -100
  -104
  -108
  -113
  -118
  -123
  -128
  -134
  -140
  -146
  -153
  -160
  -168
  -176
  -184
  -193
  -202
  -212
  -222
New CAPEX, $m
  -82
  -15
  -18
  -20
  -22
  -25
  -27
  -30
  -32
  -35
  -37
  -40
  -42
  -45
  -48
  -51
  -54
  -57
  -61
  -64
  -68
  -71
  -75
  -79
  -83
  -88
  -93
  -97
  -102
  -108
  -113
Cash from investing activities, $m
  -76
  -86
  -90
  -94
  -98
  -103
  -108
  -113
  -118
  -124
  -129
  -136
  -142
  -149
  -156
  -164
  -172
  -180
  -189
  -198
  -208
  -217
  -228
  -239
  -251
  -264
  -277
  -290
  -304
  -320
  -335
Free cash flow, $m
  98
  -29
  -33
  -37
  -41
  -44
  -49
  -53
  -57
  -61
  -66
  -71
  -76
  -81
  -86
  -92
  -98
  -104
  -110
  -117
  -124
  -132
  -139
  -148
  -156
  -165
  -174
  -184
  -195
  -206
  -217
Issuance/(repayment) of debt, $m
  -1
  16
  19
  22
  25
  28
  30
  33
  36
  39
  41
  44
  47
  50
  53
  57
  60
  64
  67
  71
  75
  79
  83
  88
  93
  98
  103
  108
  114
  120
  126
Issuance/(repurchase) of shares, $m
  -99
  35
  37
  39
  42
  45
  48
  51
  54
  57
  60
  51
  54
  58
  62
  66
  71
  75
  80
  85
  90
  96
  102
  108
  114
  121
  128
  135
  143
  151
  160
Cash from financing (excl. dividends), $m  
  -110
  51
  56
  61
  67
  73
  78
  84
  90
  96
  101
  95
  101
  108
  115
  123
  131
  139
  147
  156
  165
  175
  185
  196
  207
  219
  231
  243
  257
  271
  286
Total cash flow (excl. dividends), $m
  -17
  22
  24
  25
  27
  28
  29
  31
  32
  34
  35
  24
  26
  27
  29
  31
  33
  35
  37
  39
  41
  43
  46
  48
  51
  53
  56
  59
  62
  65
  69
Retained Cash Flow (-), $m
  -5
  -35
  -37
  -39
  -42
  -45
  -48
  -51
  -54
  -57
  -60
  -51
  -54
  -58
  -62
  -66
  -71
  -75
  -80
  -85
  -90
  -96
  -102
  -108
  -114
  -121
  -128
  -135
  -143
  -151
  -160
Prev. year cash balance distribution, $m
 
  72
  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
 
  59
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -38
  -40
  -43
  -46
  -49
  -53
  -56
  -60
  -64
  -68
  -72
  -76
  -81
  -86
  -91
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  56
  -12
  -12
  -12
  -12
  -12
  -12
  -12
  -12
  -12
  -11
  -10
  -10
  -9
  -8
  -8
  -7
  -6
  -5
  -4
  -4
  -3
  -2
  -2
  -2
  -1
  -1
  -1
  0
  0
Current shareholders' claim on cash, %
  100
  97.9
  95.8
  93.6
  91.4
  89.2
  87.0
  84.7
  82.5
  80.3
  78.0
  76.3
  74.5
  72.8
  71.0
  69.2
  67.5
  65.7
  64.0
  62.3
  60.6
  58.9
  57.2
  55.6
  54.0
  52.4
  50.9
  49.4
  47.9
  46.5
  45.1

Masonite International Corporation designs, manufactures, and sells interior and exterior doors worldwide. It offers molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel, or fiberglass residential doors. The company also provides various door components, including interior door facings, agri-fiber and particleboard door cores, MDFs, wood cut-stock components, critical door components, wood veneer door skins, and mineral and particleboard door cores. Masonite International Corporation offers its products under the Masonite, Marshfield, Premdor, Mohawk, Megantic, Algoma, Birchwood Best, Lemieux, Door-Stop, Harring Doors, Performance Doorset Solutions, and National Hickman brands to remodeling contractors, builders, homeowners, retailers, dealers, lumberyards, commercial and general contractors, and architects. It serves the residential new construction, repair, renovation, and remodeling; and the non-residential building construction markets through various wholesale and retail distribution channels. Masonite International Corporation was founded in 1925 and is headquartered in Tampa, Florida.

FINANCIAL RATIOS  of  Masonite International (DOOR)

Valuation Ratios
P/E Ratio 18.6
Price to Sales 0.9
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow 10.6
Price to Free Cash Flow 20
Growth Rates
Sales Growth Rate 5.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 60.8%
Cap. Spend. - 3 Yr. Gr. Rate 12.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 73.6%
Total Debt to Equity 73.6%
Interest Coverage 6
Management Effectiveness
Return On Assets 8.2%
Ret/ On Assets - 3 Yr. Avg. 3%
Return On Total Capital 8.8%
Ret/ On T. Cap. - 3 Yr. Avg. 0.6%
Return On Equity 15.4%
Return On Equity - 3 Yr. Avg. 1.2%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 20.8%
Gross Margin - 3 Yr. Avg. 18%
EBITDA Margin 12%
EBITDA Margin - 3 Yr. Avg. 7.3%
Operating Margin 7.8%
Oper. Margin - 3 Yr. Avg. 2.9%
Pre-Tax Margin 6.4%
Pre-Tax Margin - 3 Yr. Avg. 1.1%
Net Profit Margin 5%
Net Profit Margin - 3 Yr. Avg. 0.2%
Effective Tax Rate 17.3%
Eff/ Tax Rate - 3 Yr. Avg. -15.5%
Payout Ratio 0%

DOOR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DOOR stock intrinsic value calculation we used $1974 million for the last fiscal year's total revenue generated by Masonite International. The default revenue input number comes from 2017 income statement of Masonite International. 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 DOOR stock valuation model: a) initial revenue growth rate of 2% 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 5.1%, whose default value for DOOR is calculated based on our internal credit rating of Masonite International, 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 Masonite International.
    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 DOOR stock the variable cost ratio is equal to 99.8%.

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 DOOR 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 5.7% for Masonite International.

Corporate tax rate of 27% is the nominal tax rate for Masonite International. 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 DOOR 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 DOOR are equal to 37.8%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Masonite International 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 DOOR is equal to 14%. 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 - $647 million for Masonite International - 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 29.709 million for Masonite International 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 Masonite International at the current share price and the inputted number of shares is $1.8 billion.

RELATED COMPANIES Price Int.Val. Rating
PGEM Ply Gem Holdin 14.80 3.49  str.sell
NX Quanex Buildin 18.75 6.12  str.sell
FBHS Fortune Brands 62.58 75.79  hold
BLDR Builders First 14.84 13.31  hold

COMPANY NEWS

▶ Masonite misses Street 2Q forecasts   [Aug-09-17 10:01PM  Associated Press]
▶ Masonite tops 1Q profit forecasts   [May-08-17 05:25PM  Associated Press]
▶ Why a credit agency is more confident about Masonite   [May-01-17 11:25AM  American City Business Journals]
▶ These Tampa Bay companies had the biggest stock gains as Nasdaq tops 6,000   [Apr-26-17 03:15PM  American City Business Journals]
▶ Here are Tampa Bays top performing stocks in Q1 2017   [Apr-03-17 08:33AM  at bizjournals.com]
▶ Here are Tampa Bays top performing stocks in Q1 2017   [08:33AM  American City Business Journals]
▶ Masonite CEO takes 34 percent pay cut   [Mar-28-17 07:31PM  at bizjournals.com]
▶ Masonite CEO takes 34 percent pay cut   [07:31PM  American City Business Journals]
▶ DOOR and LPX are Aggressive Growth Rank Buys   [Mar-09-17 06:22PM  Zacks]
▶ Masonite Announces Upcoming Conference Participation   [Feb-21-17 04:30PM  Business Wire]
Financial statements of DOOR
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.