Intrinsic value of Eclipse Resources - ECR

Previous Close

$2.33

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$2.33

 
Intrinsic value premium content
 
Up/down potential premium content
 
Rating premium content
 
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 ECR 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 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -7.84
  27.30
  25.07
  23.06
  21.26
  19.63
  18.17
  16.85
  15.67
  14.60
  13.64
  12.78
  12.00
  11.30
  10.67
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
Revenue, $m
  235
  299
  374
  460
  558
  668
  789
  922
  1,067
  1,222
  1,389
  1,567
  1,755
  1,953
  2,161
  2,380
  2,608
  2,846
  3,094
  3,352
  3,621
  3,900
  4,190
  4,492
  4,805
  5,131
  5,470
  5,822
  6,189
  6,570
  6,968
Variable operating expenses, $m
 
  1,527
  1,910
  2,351
  2,851
  3,410
  4,030
  4,709
  5,447
  6,242
  7,093
  8,000
  8,959
  9,972
  11,036
  12,150
  13,316
  14,532
  15,799
  17,117
  18,489
  19,915
  21,396
  22,936
  24,536
  26,199
  27,929
  29,728
  31,600
  33,548
  35,578
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
  335
  1,527
  1,910
  2,351
  2,851
  3,410
  4,030
  4,709
  5,447
  6,242
  7,093
  8,000
  8,959
  9,972
  11,036
  12,150
  13,316
  14,532
  15,799
  17,117
  18,489
  19,915
  21,396
  22,936
  24,536
  26,199
  27,929
  29,728
  31,600
  33,548
  35,578
Operating income, $m
  -100
  -1,228
  -1,536
  -1,891
  -2,292
  -2,742
  -3,241
  -3,787
  -4,380
  -5,020
  -5,704
  -6,433
  -7,205
  -8,019
  -8,874
  -9,771
  -10,708
  -11,686
  -12,705
  -13,765
  -14,868
  -16,014
  -17,206
  -18,444
  -19,731
  -21,068
  -22,459
  -23,906
  -25,411
  -26,978
  -28,610
EBITDA, $m
  -7
  -1,194
  -1,493
  -1,837
  -2,228
  -2,665
  -3,149
  -3,680
  -4,256
  -4,878
  -5,543
  -6,251
  -7,001
  -7,792
  -8,623
  -9,494
  -10,405
  -11,355
  -12,345
  -13,375
  -14,447
  -15,561
  -16,719
  -17,922
  -19,172
  -20,472
  -21,823
  -23,229
  -24,692
  -26,214
  -27,801
Interest expense (income), $m
  48
  39
  53
  69
  88
  109
  133
  160
  189
  221
  255
  291
  330
  371
  414
  460
  508
  557
  610
  664
  720
  779
  840
  903
  969
  1,038
  1,109
  1,183
  1,260
  1,340
  1,424
Earnings before tax, $m
  -203
  -1,267
  -1,589
  -1,960
  -2,381
  -2,852
  -3,374
  -3,947
  -4,569
  -5,240
  -5,959
  -6,724
  -7,535
  -8,390
  -9,289
  -10,231
  -11,215
  -12,243
  -13,314
  -14,429
  -15,588
  -16,793
  -18,046
  -19,347
  -20,700
  -22,106
  -23,568
  -25,089
  -26,671
  -28,318
  -30,034
Tax expense, $m
  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
Net income, $m
  -204
  -1,267
  -1,589
  -1,960
  -2,381
  -2,852
  -3,374
  -3,947
  -4,569
  -5,240
  -5,959
  -6,724
  -7,535
  -8,390
  -9,289
  -10,231
  -11,215
  -12,243
  -13,314
  -14,429
  -15,588
  -16,793
  -18,046
  -19,347
  -20,700
  -22,106
  -23,568
  -25,089
  -26,671
  -28,318
  -30,034

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  201
  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
  1,199
  1,268
  1,585
  1,951
  2,366
  2,830
  3,344
  3,908
  4,520
  5,180
  5,887
  6,639
  7,435
  8,275
  9,158
  10,083
  11,050
  12,059
  13,111
  14,205
  15,343
  16,527
  17,756
  19,034
  20,362
  21,742
  23,177
  24,670
  26,223
  27,841
  29,525
Adjusted assets (=assets-cash), $m
  998
  1,268
  1,585
  1,951
  2,366
  2,830
  3,344
  3,908
  4,520
  5,180
  5,887
  6,639
  7,435
  8,275
  9,158
  10,083
  11,050
  12,059
  13,111
  14,205
  15,343
  16,527
  17,756
  19,034
  20,362
  21,742
  23,177
  24,670
  26,223
  27,841
  29,525
Revenue / Adjusted assets
  0.235
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
Average production assets, $m
  137
  174
  217
  268
  324
  388
  459
  536
  620
  710
  807
  910
  1,019
  1,135
  1,256
  1,383
  1,515
  1,654
  1,798
  1,948
  2,104
  2,266
  2,435
  2,610
  2,792
  2,981
  3,178
  3,383
  3,596
  3,817
  4,048
Working capital, $m
  118
  -117
  -146
  -180
  -218
  -261
  -309
  -361
  -417
  -478
  -543
  -613
  -686
  -764
  -845
  -930
  -1,020
  -1,113
  -1,210
  -1,311
  -1,416
  -1,525
  -1,638
  -1,756
  -1,879
  -2,006
  -2,139
  -2,276
  -2,420
  -2,569
  -2,724
Total debt, $m
  492
  669
  876
  1,115
  1,386
  1,689
  2,025
  2,393
  2,793
  3,224
  3,685
  4,176
  4,696
  5,245
  5,821
  6,425
  7,057
  7,716
  8,402
  9,117
  9,860
  10,633
  11,436
  12,270
  13,137
  14,039
  14,976
  15,950
  16,965
  18,021
  19,121
Total liabilities, $m
  642
  828
  1,035
  1,274
  1,545
  1,848
  2,184
  2,552
  2,952
  3,383
  3,844
  4,335
  4,855
  5,404
  5,980
  6,584
  7,216
  7,875
  8,561
  9,276
  10,019
  10,792
  11,595
  12,429
  13,296
  14,198
  15,135
  16,109
  17,124
  18,180
  19,280
Total equity, $m
  557
  440
  550
  677
  821
  982
  1,160
  1,356
  1,568
  1,797
  2,043
  2,304
  2,580
  2,871
  3,178
  3,499
  3,834
  4,185
  4,549
  4,929
  5,324
  5,735
  6,161
  6,605
  7,066
  7,544
  8,042
  8,560
  9,100
  9,661
  10,245
Total liabilities and equity, $m
  1,199
  1,268
  1,585
  1,951
  2,366
  2,830
  3,344
  3,908
  4,520
  5,180
  5,887
  6,639
  7,435
  8,275
  9,158
  10,083
  11,050
  12,060
  13,110
  14,205
  15,343
  16,527
  17,756
  19,034
  20,362
  21,742
  23,177
  24,669
  26,224
  27,841
  29,525
Debt-to-equity ratio
  0.883
  1.520
  1.590
  1.650
  1.690
  1.720
  1.740
  1.760
  1.780
  1.790
  1.800
  1.810
  1.820
  1.830
  1.830
  1.840
  1.840
  1.840
  1.850
  1.850
  1.850
  1.850
  1.860
  1.860
  1.860
  1.860
  1.860
  1.860
  1.860
  1.870
  1.870
Adjusted equity ratio
  0.357
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -204
  -1,267
  -1,589
  -1,960
  -2,381
  -2,852
  -3,374
  -3,947
  -4,569
  -5,240
  -5,959
  -6,724
  -7,535
  -8,390
  -9,289
  -10,231
  -11,215
  -12,243
  -13,314
  -14,429
  -15,588
  -16,793
  -18,046
  -19,347
  -20,700
  -22,106
  -23,568
  -25,089
  -26,671
  -28,318
  -30,034
Depreciation, amort., depletion, $m
  93
  35
  43
  54
  65
  78
  92
  107
  124
  142
  161
  182
  204
  227
  251
  277
  303
  331
  360
  390
  421
  453
  487
  522
  558
  596
  636
  677
  719
  763
  810
Funds from operations, $m
  -19
  -1,232
  -1,546
  -1,906
  -2,316
  -2,774
  -3,282
  -3,840
  -4,445
  -5,098
  -5,797
  -6,542
  -7,331
  -8,163
  -9,037
  -9,954
  -10,912
  -11,912
  -12,955
  -14,039
  -15,167
  -16,340
  -17,559
  -18,826
  -20,142
  -21,510
  -22,932
  -24,412
  -25,952
  -27,555
  -29,224
Change in working capital, $m
  -25
  -25
  -29
  -34
  -38
  -43
  -47
  -52
  -56
  -61
  -65
  -69
  -73
  -78
  -81
  -85
  -89
  -93
  -97
  -101
  -105
  -109
  -113
  -118
  -123
  -127
  -132
  -138
  -143
  -149
  -155
Cash from operations, $m
  6
  -1,344
  -1,516
  -1,873
  -2,277
  -2,732
  -3,235
  -3,788
  -4,389
  -5,037
  -5,732
  -6,473
  -7,257
  -8,085
  -8,956
  -9,869
  -10,823
  -11,819
  -12,858
  -13,938
  -15,062
  -16,231
  -17,446
  -18,708
  -20,019
  -21,383
  -22,800
  -24,274
  -25,808
  -27,405
  -29,069
Maintenance CAPEX, $m
  0
  -27
  -35
  -43
  -54
  -65
  -78
  -92
  -107
  -124
  -142
  -161
  -182
  -204
  -227
  -251
  -277
  -303
  -331
  -360
  -390
  -421
  -453
  -487
  -522
  -558
  -596
  -636
  -677
  -719
  -763
New CAPEX, $m
  -169
  -37
  -44
  -50
  -57
  -64
  -71
  -77
  -84
  -90
  -97
  -103
  -109
  -115
  -121
  -127
  -133
  -138
  -144
  -150
  -156
  -162
  -169
  -175
  -182
  -189
  -197
  -205
  -213
  -222
  -231
Cash from investing activities, $m
  -89
  -64
  -79
  -93
  -111
  -129
  -149
  -169
  -191
  -214
  -239
  -264
  -291
  -319
  -348
  -378
  -410
  -441
  -475
  -510
  -546
  -583
  -622
  -662
  -704
  -747
  -793
  -841
  -890
  -941
  -994
Free cash flow, $m
  -83
  -1,408
  -1,595
  -1,966
  -2,388
  -2,860
  -3,383
  -3,957
  -4,580
  -5,252
  -5,971
  -6,737
  -7,549
  -8,404
  -9,304
  -10,247
  -11,232
  -12,261
  -13,332
  -14,448
  -15,608
  -16,814
  -18,067
  -19,370
  -20,723
  -22,130
  -23,593
  -25,115
  -26,698
  -28,346
  -30,063
Issuance/(repayment) of debt, $m
  -24
  177
  208
  239
  271
  303
  336
  368
  400
  431
  461
  491
  520
  549
  576
  604
  632
  659
  687
  715
  743
  773
  803
  834
  867
  901
  937
  975
  1,014
  1,056
  1,100
Issuance/(repurchase) of shares, $m
  124
  1,125
  1,497
  1,854
  2,261
  2,718
  3,226
  3,784
  4,392
  5,050
  5,755
  6,507
  7,305
  8,147
  9,034
  9,964
  10,936
  11,952
  13,011
  14,113
  15,260
  16,452
  17,691
  18,979
  20,317
  21,708
  23,154
  24,658
  26,223
  27,851
  29,548
Cash from financing (excl. dividends), $m  
  100
  1,302
  1,705
  2,093
  2,532
  3,021
  3,562
  4,152
  4,792
  5,481
  6,216
  6,998
  7,825
  8,696
  9,610
  10,568
  11,568
  12,611
  13,698
  14,828
  16,003
  17,225
  18,494
  19,813
  21,184
  22,609
  24,091
  25,633
  27,237
  28,907
  30,648
Total cash flow (excl. dividends), $m
  17
  -1,232
  -1,387
  -1,727
  -2,117
  -2,557
  -3,047
  -3,589
  -4,180
  -4,821
  -5,510
  -6,246
  -7,028
  -7,856
  -8,727
  -9,643
  -10,601
  -11,602
  -12,646
  -13,733
  -14,865
  -16,041
  -17,264
  -18,535
  -19,856
  -21,229
  -22,656
  -24,140
  -25,684
  -27,290
  -28,963
Retained Cash Flow (-), $m
  64
  -94
  -110
  -127
  -144
  -161
  -178
  -196
  -212
  -229
  -245
  -261
  -276
  -291
  -306
  -321
  -336
  -350
  -365
  -380
  -395
  -411
  -427
  -443
  -461
  -479
  -498
  -518
  -539
  -561
  -585
Prev. year cash balance distribution, $m
 
  201
  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, %
 
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
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
  24.8
  5.9
  1.4
  0.3
  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
  0.0
  0.0
  0.0
  0.0

Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company owns interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2015, it had an acreage position approximating 220,000 net acres in Eastern Ohio. The company’s estimated proved reserves consisted of 348.8 billion cubic feet of natural gas equivalent. Eclipse Resources Corporation was founded in 2011 and is headquartered in State College, Pennsylvania.

FINANCIAL RATIOS  of  Eclipse Resources (ECR)

Valuation Ratios
P/E Ratio -3
Price to Sales 2.6
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 101.2
Price to Free Cash Flow -3.7
Growth Rates
Sales Growth Rate -7.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -64.6%
Cap. Spend. - 3 Yr. Gr. Rate -7.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 88.3%
Total Debt to Equity 88.3%
Interest Coverage -3
Management Effectiveness
Return On Assets -12.6%
Ret/ On Assets - 3 Yr. Avg. -27.1%
Return On Total Capital -18.6%
Ret/ On T. Cap. - 3 Yr. Avg. -34.7%
Return On Equity -34.6%
Return On Equity - 3 Yr. Avg. -54.7%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 88.9%
Gross Margin - 3 Yr. Avg. 85.8%
EBITDA Margin -26.4%
EBITDA Margin - 3 Yr. Avg. -107%
Operating Margin -42.6%
Oper. Margin - 3 Yr. Avg. -171.3%
Pre-Tax Margin -86.4%
Pre-Tax Margin - 3 Yr. Avg. -192.1%
Net Profit Margin -86.8%
Net Profit Margin - 3 Yr. Avg. -200.1%
Effective Tax Rate -0.5%
Eff/ Tax Rate - 3 Yr. Avg. -19.5%
Payout Ratio 0%

ECR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ECR stock intrinsic value calculation we used $235 million for the last fiscal year's total revenue generated by Eclipse Resources. The default revenue input number comes from 2016 income statement of Eclipse Resources. 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 ECR stock valuation model: a) initial revenue growth rate of 27.3% 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 6.9%, whose default value for ECR is calculated based on our internal credit rating of Eclipse Resources, 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 Eclipse Resources.
    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 ECR stock the variable cost ratio is equal to 510.6%.

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 ECR 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 7.9% for Eclipse Resources.

Corporate tax rate of 27% is the nominal tax rate for Eclipse Resources. 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 ECR 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 ECR are equal to 58.1%.

Life of production assets of 0.6 years is the average useful life of capital assets used in Eclipse Resources 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 ECR is equal to -39.1%. 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 - $547 million for Eclipse Resources - 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 251.285 million for Eclipse Resources 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 Eclipse Resources at the current share price and the inputted number of shares is $0.6 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
COG Cabot Oil&Gas 22.86 prem.  prem.
AR Antero Resourc 20.16 prem.  prem.
ENLK EnLink Midstre 15.48 prem.  prem.
REXX Rex Energy 2.78 prem.  prem.
RRC Range Resource 21.43 prem.  prem.
RICE Rice Energy 24.03 prem.  prem.
GPOR Gulfport Energ 13.49 prem.  prem.
EQT EQT 52.03 prem.  prem.

COMPANY NEWS

▶ Eclipse Resources drills well with a record 19K-foot lateral   [Jun-18-17 05:10PM  American City Business Journals]
▶ Eclipse Resources, Gulfport Energy lead the way as Q1 drilling rebounds in Ohio   [Jun-12-17 12:55PM  American City Business Journals]
▶ Eclipse Resources beats Street 1Q forecasts   [05:02AM  Associated Press]
▶ Eclipse Resources reports 4Q loss   [06:09PM  Associated Press]
▶ Eclipse Resources Announces Asset Divestiture   [Dec-19-16 04:10PM  Business Wire]
▶ Do Hedge Funds Love Cincinnati Bell Inc. (CBB)?   [Dec-11-16 04:54PM  at Insider Monkey]
▶ Is Brookline Bancorp, Inc. (BRKL) A Good Stock To Buy?   [Dec-10-16 10:55AM  at Insider Monkey]
▶ Should You Avoid Manitowoc Company Inc (MTW)?   [Nov-28-16 12:22PM  at Insider Monkey]
▶ The 5 Companies Dominating the Utica Shale Play   [Aug-17-16 12:00PM  at Motley Fool]
▶ 3 Companies That Destroyed Shareholders This Past Week   [Jul-10-16 10:10AM  at 24/7 Wall St.]
Stock chart of ECR Financial statements of ECR Annual reports of ECR
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.