Intrinsic value of Egalet - EGLT

Previous Close

$1.12

  Intrinsic Value

$0.05

stock screener

  Rating & Target

str. sell

-95%

  Value-price divergence*

0%

Previous close

$1.12

 
Intrinsic value

$0.05

 
Up/down potential

-95%

 
Rating

str. sell

 
Value-price divergence*

0%

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

We calculate the intrinsic value of EGLT 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 0.0

 

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, %
  -26.09
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  17
  27
  42
  63
  91
  129
  177
  237
  312
  401
  507
  629
  769
  927
  1,103
  1,297
  1,509
  1,738
  1,984
  2,247
  2,527
  2,822
  3,133
  3,459
  3,801
  4,158
  4,530
  4,917
  5,320
  5,739
  6,175
Variable operating expenses, $m
 
  88
  136
  203
  295
  416
  572
  768
  1,008
  1,298
  1,639
  2,035
  2,488
  2,999
  3,569
  4,196
  4,881
  5,622
  6,419
  7,270
  8,174
  9,129
  10,135
  11,191
  12,296
  13,450
  14,653
  15,907
  17,211
  18,567
  19,976
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
  98
  88
  136
  203
  295
  416
  572
  768
  1,008
  1,298
  1,639
  2,035
  2,488
  2,999
  3,569
  4,196
  4,881
  5,622
  6,419
  7,270
  8,174
  9,129
  10,135
  11,191
  12,296
  13,450
  14,653
  15,907
  17,211
  18,567
  19,976
Operating income, $m
  -81
  -61
  -94
  -140
  -204
  -288
  -395
  -531
  -697
  -897
  -1,132
  -1,406
  -1,719
  -2,072
  -2,465
  -2,899
  -3,372
  -3,884
  -4,435
  -5,023
  -5,647
  -6,307
  -7,002
  -7,731
  -8,495
  -9,292
  -10,124
  -10,990
  -11,891
  -12,827
  -13,801
EBITDA, $m
  -77
  -58
  -89
  -133
  -193
  -273
  -375
  -503
  -661
  -851
  -1,074
  -1,334
  -1,631
  -1,966
  -2,339
  -2,750
  -3,199
  -3,685
  -4,207
  -4,765
  -5,357
  -5,983
  -6,643
  -7,335
  -8,059
  -8,815
  -9,604
  -10,426
  -11,280
  -12,169
  -13,093
Interest expense (income), $m
  0
  3
  5
  8
  12
  18
  26
  37
  50
  65
  84
  107
  133
  163
  196
  234
  275
  320
  369
  421
  477
  537
  600
  666
  735
  808
  884
  963
  1,046
  1,131
  1,221
Earnings before tax, $m
  -92
  -64
  -99
  -148
  -216
  -306
  -422
  -567
  -746
  -962
  -1,217
  -1,513
  -1,852
  -2,235
  -2,662
  -3,133
  -3,647
  -4,205
  -4,804
  -5,444
  -6,125
  -6,844
  -7,602
  -8,397
  -9,230
  -10,100
  -11,008
  -11,953
  -12,936
  -13,959
  -15,022
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
  -91
  -64
  -99
  -148
  -216
  -306
  -422
  -567
  -746
  -962
  -1,217
  -1,513
  -1,852
  -2,235
  -2,662
  -3,133
  -3,647
  -4,205
  -4,804
  -5,444
  -6,125
  -6,844
  -7,602
  -8,397
  -9,230
  -10,100
  -11,008
  -11,953
  -12,936
  -13,959
  -15,022

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  87
  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
  115
  184
  284
  425
  616
  869
  1,195
  1,604
  2,106
  2,710
  3,423
  4,251
  5,197
  6,264
  7,453
  8,764
  10,195
  11,743
  13,408
  15,185
  17,072
  19,067
  21,168
  23,373
  25,681
  28,092
  30,606
  33,223
  35,947
  38,779
  41,723
Adjusted assets (=assets-cash), $m
  28
  184
  284
  425
  616
  869
  1,195
  1,604
  2,106
  2,710
  3,423
  4,251
  5,197
  6,264
  7,453
  8,764
  10,195
  11,743
  13,408
  15,185
  17,072
  19,067
  21,168
  23,373
  25,681
  28,092
  30,606
  33,223
  35,947
  38,779
  41,723
Revenue / Adjusted assets
  0.607
  0.147
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
Average production assets, $m
  20
  31
  48
  72
  105
  148
  203
  272
  358
  460
  581
  722
  882
  1,063
  1,265
  1,488
  1,731
  1,993
  2,276
  2,578
  2,898
  3,237
  3,593
  3,968
  4,360
  4,769
  5,195
  5,640
  6,102
  6,583
  7,083
Working capital, $m
  68
  -3
  -4
  -6
  -9
  -13
  -18
  -24
  -31
  -40
  -51
  -63
  -77
  -93
  -110
  -130
  -151
  -174
  -198
  -225
  -253
  -282
  -313
  -346
  -380
  -416
  -453
  -492
  -532
  -574
  -617
Total debt, $m
  84
  139
  230
  356
  529
  756
  1,050
  1,418
  1,870
  2,413
  3,055
  3,800
  4,652
  5,612
  6,682
  7,862
  9,149
  10,543
  12,041
  13,640
  15,339
  17,135
  19,025
  21,010
  23,087
  25,257
  27,519
  29,875
  32,327
  34,875
  37,525
Total liabilities, $m
  110
  165
  256
  382
  555
  782
  1,076
  1,444
  1,896
  2,439
  3,081
  3,826
  4,678
  5,638
  6,708
  7,888
  9,175
  10,569
  12,067
  13,666
  15,365
  17,161
  19,051
  21,036
  23,113
  25,283
  27,545
  29,901
  32,353
  34,901
  37,551
Total equity, $m
  5
  18
  28
  42
  62
  87
  120
  160
  211
  271
  342
  425
  520
  626
  745
  876
  1,019
  1,174
  1,341
  1,518
  1,707
  1,907
  2,117
  2,337
  2,568
  2,809
  3,061
  3,322
  3,595
  3,878
  4,172
Total liabilities and equity, $m
  115
  183
  284
  424
  617
  869
  1,196
  1,604
  2,107
  2,710
  3,423
  4,251
  5,198
  6,264
  7,453
  8,764
  10,194
  11,743
  13,408
  15,184
  17,072
  19,068
  21,168
  23,373
  25,681
  28,092
  30,606
  33,223
  35,948
  38,779
  41,723
Debt-to-equity ratio
  16.800
  7.590
  8.080
  8.390
  8.580
  8.700
  8.780
  8.840
  8.880
  8.900
  8.920
  8.940
  8.950
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
Adjusted equity ratio
  -2.929
  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
  -91
  -64
  -99
  -148
  -216
  -306
  -422
  -567
  -746
  -962
  -1,217
  -1,513
  -1,852
  -2,235
  -2,662
  -3,133
  -3,647
  -4,205
  -4,804
  -5,444
  -6,125
  -6,844
  -7,602
  -8,397
  -9,230
  -10,100
  -11,008
  -11,953
  -12,936
  -13,959
  -15,022
Depreciation, amort., depletion, $m
  4
  3
  5
  7
  10
  15
  20
  27
  36
  46
  58
  72
  88
  106
  127
  149
  173
  199
  228
  258
  290
  324
  359
  397
  436
  477
  520
  564
  610
  658
  708
Funds from operations, $m
  -71
  -61
  -94
  -141
  -206
  -291
  -401
  -540
  -711
  -916
  -1,159
  -1,441
  -1,764
  -2,129
  -2,535
  -2,984
  -3,474
  -4,005
  -4,576
  -5,186
  -5,835
  -6,520
  -7,242
  -8,000
  -8,794
  -9,623
  -10,488
  -11,389
  -12,326
  -13,301
  -14,313
Change in working capital, $m
  2
  -1
  -1
  -2
  -3
  -4
  -5
  -6
  -7
  -9
  -11
  -12
  -14
  -16
  -18
  -19
  -21
  -23
  -25
  -26
  -28
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
Cash from operations, $m
  -73
  -60
  -93
  -139
  -203
  -288
  -397
  -534
  -703
  -907
  -1,148
  -1,429
  -1,750
  -2,113
  -2,518
  -2,965
  -3,453
  -3,982
  -4,552
  -5,160
  -5,807
  -6,491
  -7,211
  -7,968
  -8,760
  -9,588
  -10,451
  -11,350
  -12,286
  -13,259
  -14,270
Maintenance CAPEX, $m
  0
  -2
  -3
  -5
  -7
  -10
  -15
  -20
  -27
  -36
  -46
  -58
  -72
  -88
  -106
  -127
  -149
  -173
  -199
  -228
  -258
  -290
  -324
  -359
  -397
  -436
  -477
  -520
  -564
  -610
  -658
New CAPEX, $m
  -7
  -12
  -17
  -24
  -33
  -43
  -55
  -69
  -85
  -103
  -121
  -141
  -161
  -181
  -202
  -222
  -243
  -263
  -283
  -302
  -320
  -339
  -357
  -374
  -392
  -409
  -427
  -444
  -462
  -481
  -500
Cash from investing activities, $m
  49
  -14
  -20
  -29
  -40
  -53
  -70
  -89
  -112
  -139
  -167
  -199
  -233
  -269
  -308
  -349
  -392
  -436
  -482
  -530
  -578
  -629
  -681
  -733
  -789
  -845
  -904
  -964
  -1,026
  -1,091
  -1,158
Free cash flow, $m
  -24
  -73
  -113
  -168
  -243
  -341
  -467
  -624
  -816
  -1,045
  -1,315
  -1,627
  -1,983
  -2,382
  -2,826
  -3,314
  -3,845
  -4,418
  -5,034
  -5,689
  -6,385
  -7,119
  -7,892
  -8,701
  -9,549
  -10,433
  -11,355
  -12,314
  -13,312
  -14,350
  -15,428
Issuance/(repayment) of debt, $m
  21
  55
  90
  127
  172
  228
  293
  368
  452
  544
  642
  745
  852
  960
  1,070
  1,179
  1,288
  1,394
  1,498
  1,599
  1,699
  1,796
  1,891
  1,984
  2,077
  2,170
  2,262
  2,356
  2,451
  2,549
  2,649
Issuance/(repurchase) of shares, $m
  0
  77
  109
  163
  235
  331
  454
  608
  797
  1,022
  1,288
  1,596
  1,947
  2,342
  2,781
  3,264
  3,790
  4,360
  4,970
  5,622
  6,313
  7,043
  7,812
  8,618
  9,461
  10,341
  11,259
  12,215
  13,209
  14,242
  15,316
Cash from financing (excl. dividends), $m  
  22
  132
  199
  290
  407
  559
  747
  976
  1,249
  1,566
  1,930
  2,341
  2,799
  3,302
  3,851
  4,443
  5,078
  5,754
  6,468
  7,221
  8,012
  8,839
  9,703
  10,602
  11,538
  12,511
  13,521
  14,571
  15,660
  16,791
  17,965
Total cash flow (excl. dividends), $m
  -2
  59
  86
  121
  165
  218
  281
  353
  433
  521
  615
  713
  816
  920
  1,025
  1,130
  1,233
  1,335
  1,435
  1,532
  1,627
  1,720
  1,811
  1,901
  1,990
  2,078
  2,167
  2,257
  2,348
  2,441
  2,537
Retained Cash Flow (-), $m
  84
  -77
  -109
  -163
  -235
  -331
  -454
  -608
  -797
  -1,022
  -1,288
  -1,596
  -1,947
  -2,342
  -2,781
  -3,264
  -3,790
  -4,360
  -4,970
  -5,622
  -6,313
  -7,043
  -7,812
  -8,618
  -9,461
  -10,341
  -11,259
  -12,215
  -13,209
  -14,242
  -15,316
Prev. year cash balance 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
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
 
  -18
  -22
  -41
  -70
  -113
  -174
  -256
  -364
  -502
  -673
  -882
  -1,131
  -1,422
  -1,756
  -2,134
  -2,557
  -3,024
  -3,536
  -4,090
  -4,686
  -5,324
  -6,001
  -6,717
  -7,471
  -8,263
  -9,092
  -9,958
  -10,861
  -11,801
  -12,779
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -17
  -21
  -36
  -58
  -88
  -126
  -173
  -227
  -288
  -353
  -419
  -483
  -541
  -589
  -627
  -650
  -658
  -651
  -630
  -595
  -551
  -498
  -440
  -381
  -321
  -265
  -214
  -168
  -129
  -96
Current shareholders' claim on cash, %
  100
  26.2
  12.6
  6.1
  3.0
  1.5
  0.8
  0.4
  0.2
  0.1
  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

Egalet Corporation, a specialty pharmaceutical company, develops, manufactures, and commercializes treatments for patients with pain and other conditions. It has licensed two approved pain products, such as SPRIX Nasal Spray, a non-steroidal anti-inflammatory drug indicated in adult patients for the short-term management of moderate to moderately severe pain that requires analgesia at the opioid level; and OXAYDO, an immediate-release oxycodone product designed to discourage abuse via snorting for the management of acute and chronic moderate to severe pain where an opioid is appropriate. The company also develops a pipeline of clinical-stage, opioid-based product candidates that are specifically designed to deter abuse by physical and chemical manipulation using its proprietary Guardian Technology. Its product candidates include ARYMO ER and Egalet-002 that are abuse-deterrent, extended-release, oral formulations. The company has a collaboration and license agreement with Acura Pharmaceuticals, Inc. to commercialize OXAYDO tablets; and Shionogi Limited to develop, manufacture, and commercialize abuse-deterrent hydrocodone-based product candidates using its technology. Egalet Corporation was founded in 2010 and is headquartered in Wayne, Pennsylvania.

FINANCIAL RATIOS  of  Egalet (EGLT)

Valuation Ratios
P/E Ratio -0.3
Price to Sales 1.7
Price to Book 5.6
Price to Tangible Book
Price to Cash Flow -0.4
Price to Free Cash Flow -0.4
Growth Rates
Sales Growth Rate -26.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 75%
Cap. Spend. - 3 Yr. Gr. Rate 28.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 1680%
Total Debt to Equity 1680%
Interest Coverage 0
Management Effectiveness
Return On Assets -63.4%
Ret/ On Assets - 3 Yr. Avg. -73.1%
Return On Total Capital -77.8%
Ret/ On T. Cap. - 3 Yr. Avg. -102.6%
Return On Equity -193.6%
Return On Equity - 3 Yr. Avg. -177.9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 76.5%
Gross Margin - 3 Yr. Avg. 54.5%
EBITDA Margin -517.6%
EBITDA Margin - 3 Yr. Avg. -953.7%
Operating Margin -476.5%
Oper. Margin - 3 Yr. Avg. -850.9%
Pre-Tax Margin -541.2%
Pre-Tax Margin - 3 Yr. Avg. -982.6%
Net Profit Margin -535.3%
Net Profit Margin - 3 Yr. Avg. -979.2%
Effective Tax Rate 1.1%
Eff/ Tax Rate - 3 Yr. Avg. 0.9%
Payout Ratio 0%

EGLT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EGLT stock intrinsic value calculation we used $17 million for the last fiscal year's total revenue generated by Egalet. The default revenue input number comes from 2016 income statement of Egalet. 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 EGLT stock valuation model: a) initial revenue growth rate of 60% 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 4.3%, whose default value for EGLT is calculated based on our internal credit rating of Egalet, 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 Egalet.
    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 EGLT stock the variable cost ratio is equal to 323.5%.

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 EGLT 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 Egalet.

Corporate tax rate of 27% is the nominal tax rate for Egalet. 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 EGLT 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 EGLT are equal to 114.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Egalet 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 EGLT is equal to -10%. 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 - $5 million for Egalet - 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 24.399 million for Egalet 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 Egalet at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ Egalet reports 2Q loss   [Aug-09-17 10:03PM  Associated Press]
▶ Egalet trims non-sales workforce by 40%   [05:20PM  American City Business Journals]
▶ Egalet Stumbles Over FDA Complete Response Letter   [Jun-20-17 10:15AM  24/7 Wall St.]
▶ ETFs with exposure to Egalet Corp. : June 8, 2017   [Jun-08-17 01:33PM  Capital Cube]
▶ Patents piling up for Wayne maker of abuse-deterrent medicines   [Jun-05-17 02:40PM  American City Business Journals]
▶ ETFs with exposure to Egalet Corp. : May 26, 2017   [May-26-17 01:06PM  Capital Cube]
▶ ETFs with exposure to Egalet Corp. : May 15, 2017   [May-15-17 03:38PM  Capital Cube]
▶ Egalet reports 1Q loss   [May-10-17 06:22AM  Associated Press]
▶ Egalet to Participate in Spring Investor Conferences   [Apr-03-17 06:02AM  PR Newswire]
▶ Egalet Gets 4 New Patents for Guardian Technology   [Mar-23-17 11:05AM  at Investopedia]
▶ Nektar Pharma Opioid Drug Shows Promise In Phase 3   [Mar-20-17 01:41PM  at Investopedia]
Stock chart of EGLT Financial statements of EGLT
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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