Intrinsic value of Vaalco Energy - EGY

Previous Close

$0.76

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

  Value-price divergence*

-91%

Previous close

$0.76

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

 
Value-price divergence*

-91%

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

We calculate the intrinsic value of EGY 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, %
  -25.00
  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
  60
  96
  148
  222
  322
  454
  624
  838
  1,100
  1,416
  1,788
  2,221
  2,715
  3,272
  3,893
  4,578
  5,325
  6,134
  7,003
  7,932
  8,918
  9,960
  11,057
  12,209
  13,415
  14,674
  15,987
  17,354
  18,777
  20,256
  21,794
Variable operating expenses, $m
 
  221
  341
  510
  740
  1,044
  1,436
  1,927
  2,531
  3,256
  4,113
  5,107
  6,244
  7,526
  8,955
  10,529
  12,248
  14,108
  16,108
  18,243
  20,511
  22,908
  25,432
  28,081
  30,854
  33,750
  36,770
  39,915
  43,187
  46,590
  50,126
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
  64
  221
  341
  510
  740
  1,044
  1,436
  1,927
  2,531
  3,256
  4,113
  5,107
  6,244
  7,526
  8,955
  10,529
  12,248
  14,108
  16,108
  18,243
  20,511
  22,908
  25,432
  28,081
  30,854
  33,750
  36,770
  39,915
  43,187
  46,590
  50,126
Operating income, $m
  -4
  -125
  -193
  -288
  -418
  -590
  -812
  -1,089
  -1,430
  -1,840
  -2,325
  -2,887
  -3,529
  -4,254
  -5,061
  -5,951
  -6,923
  -7,974
  -9,105
  -10,311
  -11,593
  -12,948
  -14,374
  -15,872
  -17,439
  -19,076
  -20,783
  -22,561
  -24,410
  -26,333
  -28,332
EBITDA, $m
  3
  -120
  -185
  -277
  -402
  -567
  -779
  -1,046
  -1,373
  -1,767
  -2,232
  -2,772
  -3,389
  -4,085
  -4,860
  -5,715
  -6,647
  -7,657
  -8,742
  -9,901
  -11,132
  -12,433
  -13,803
  -15,241
  -16,745
  -18,317
  -19,956
  -21,663
  -23,440
  -25,286
  -27,206
Interest expense (income), $m
  1
  1
  3
  8
  14
  22
  33
  48
  66
  88
  114
  145
  181
  223
  270
  322
  379
  442
  509
  582
  660
  743
  830
  922
  1,019
  1,120
  1,225
  1,335
  1,450
  1,569
  1,693
Earnings before tax, $m
  -9
  -126
  -196
  -296
  -432
  -613
  -845
  -1,137
  -1,496
  -1,928
  -2,439
  -3,032
  -3,711
  -4,477
  -5,331
  -6,273
  -7,302
  -8,416
  -9,614
  -10,894
  -12,253
  -13,691
  -15,205
  -16,794
  -18,458
  -20,196
  -22,008
  -23,896
  -25,860
  -27,902
  -30,025
Tax expense, $m
  9
  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
  -27
  -126
  -196
  -296
  -432
  -613
  -845
  -1,137
  -1,496
  -1,928
  -2,439
  -3,032
  -3,711
  -4,477
  -5,331
  -6,273
  -7,302
  -8,416
  -9,614
  -10,894
  -12,253
  -13,691
  -15,205
  -16,794
  -18,458
  -20,196
  -22,008
  -23,896
  -25,860
  -27,902
  -30,025

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  20
  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
  81
  130
  200
  299
  434
  613
  842
  1,131
  1,485
  1,911
  2,413
  2,997
  3,664
  4,416
  5,254
  6,178
  7,186
  8,278
  9,451
  10,704
  12,035
  13,441
  14,922
  16,476
  18,103
  19,803
  21,575
  23,420
  25,340
  27,337
  29,412
Adjusted assets (=assets-cash), $m
  61
  130
  200
  299
  434
  613
  842
  1,131
  1,485
  1,911
  2,413
  2,997
  3,664
  4,416
  5,254
  6,178
  7,186
  8,278
  9,451
  10,704
  12,035
  13,441
  14,922
  16,476
  18,103
  19,803
  21,575
  23,420
  25,340
  27,337
  29,412
Revenue / Adjusted assets
  0.984
  0.738
  0.740
  0.742
  0.742
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
Average production assets, $m
  31
  50
  77
  115
  166
  235
  323
  433
  569
  732
  924
  1,148
  1,404
  1,692
  2,013
  2,367
  2,753
  3,171
  3,621
  4,101
  4,610
  5,149
  5,717
  6,312
  6,935
  7,586
  8,265
  8,972
  9,708
  10,473
  11,268
Working capital, $m
  -18
  -10
  -15
  -22
  -32
  -45
  -62
  -84
  -110
  -142
  -179
  -222
  -271
  -327
  -389
  -458
  -533
  -613
  -700
  -793
  -892
  -996
  -1,106
  -1,221
  -1,341
  -1,467
  -1,599
  -1,735
  -1,878
  -2,026
  -2,179
Total debt, $m
  14
  50
  113
  202
  324
  484
  691
  951
  1,269
  1,653
  2,105
  2,630
  3,230
  3,907
  4,662
  5,493
  6,401
  7,383
  8,439
  9,567
  10,764
  12,030
  13,363
  14,762
  16,226
  17,755
  19,350
  21,011
  22,739
  24,536
  26,404
Total liabilities, $m
  81
  117
  180
  269
  391
  551
  758
  1,018
  1,336
  1,720
  2,172
  2,697
  3,297
  3,974
  4,729
  5,560
  6,468
  7,450
  8,506
  9,634
  10,831
  12,097
  13,430
  14,829
  16,293
  17,822
  19,417
  21,078
  22,806
  24,603
  26,471
Total equity, $m
  0
  13
  20
  30
  43
  61
  84
  113
  148
  191
  241
  300
  366
  442
  525
  618
  719
  828
  945
  1,070
  1,203
  1,344
  1,492
  1,648
  1,810
  1,980
  2,157
  2,342
  2,534
  2,734
  2,941
Total liabilities and equity, $m
  81
  130
  200
  299
  434
  612
  842
  1,131
  1,484
  1,911
  2,413
  2,997
  3,663
  4,416
  5,254
  6,178
  7,187
  8,278
  9,451
  10,704
  12,034
  13,441
  14,922
  16,477
  18,103
  19,802
  21,574
  23,420
  25,340
  27,337
  29,412
Debt-to-equity ratio
  0.000
  3.830
  5.650
  6.760
  7.460
  7.910
  8.200
  8.410
  8.550
  8.650
  8.720
  8.780
  8.820
  8.850
  8.870
  8.890
  8.910
  8.920
  8.930
  8.940
  8.940
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
Adjusted equity ratio
  -0.328
  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
  -27
  -126
  -196
  -296
  -432
  -613
  -845
  -1,137
  -1,496
  -1,928
  -2,439
  -3,032
  -3,711
  -4,477
  -5,331
  -6,273
  -7,302
  -8,416
  -9,614
  -10,894
  -12,253
  -13,691
  -15,205
  -16,794
  -18,458
  -20,196
  -22,008
  -23,896
  -25,860
  -27,902
  -30,025
Depreciation, amort., depletion, $m
  7
  5
  8
  11
  17
  23
  32
  43
  57
  73
  92
  115
  140
  169
  201
  237
  275
  317
  362
  410
  461
  515
  572
  631
  694
  759
  827
  897
  971
  1,047
  1,127
Funds from operations, $m
  -12
  -121
  -189
  -285
  -416
  -589
  -813
  -1,094
  -1,439
  -1,855
  -2,346
  -2,917
  -3,570
  -4,308
  -5,130
  -6,036
  -7,026
  -8,099
  -9,252
  -10,484
  -11,792
  -13,176
  -14,633
  -16,163
  -17,764
  -19,437
  -21,182
  -22,999
  -24,889
  -26,855
  -28,899
Change in working capital, $m
  -9
  -4
  -5
  -7
  -10
  -13
  -17
  -21
  -26
  -32
  -37
  -43
  -49
  -56
  -62
  -68
  -75
  -81
  -87
  -93
  -99
  -104
  -110
  -115
  -121
  -126
  -131
  -137
  -142
  -148
  -154
Cash from operations, $m
  -3
  -117
  -183
  -277
  -406
  -576
  -796
  -1,072
  -1,413
  -1,823
  -2,309
  -2,874
  -3,521
  -4,252
  -5,068
  -5,968
  -6,952
  -8,018
  -9,165
  -10,391
  -11,693
  -13,071
  -14,523
  -16,047
  -17,643
  -19,311
  -21,050
  -22,862
  -24,747
  -26,707
  -28,745
Maintenance CAPEX, $m
  0
  -3
  -5
  -8
  -11
  -17
  -23
  -32
  -43
  -57
  -73
  -92
  -115
  -140
  -169
  -201
  -237
  -275
  -317
  -362
  -410
  -461
  -515
  -572
  -631
  -694
  -759
  -827
  -897
  -971
  -1,047
New CAPEX, $m
  -9
  -19
  -27
  -38
  -52
  -68
  -88
  -110
  -136
  -163
  -193
  -224
  -256
  -288
  -321
  -354
  -386
  -418
  -449
  -480
  -510
  -539
  -567
  -595
  -623
  -651
  -679
  -707
  -736
  -765
  -795
Cash from investing activities, $m
  -1
  -22
  -32
  -46
  -63
  -85
  -111
  -142
  -179
  -220
  -266
  -316
  -371
  -428
  -490
  -555
  -623
  -693
  -766
  -842
  -920
  -1,000
  -1,082
  -1,167
  -1,254
  -1,345
  -1,438
  -1,534
  -1,633
  -1,736
  -1,842
Free cash flow, $m
  -4
  -139
  -215
  -323
  -469
  -661
  -907
  -1,215
  -1,592
  -2,043
  -2,575
  -3,190
  -3,891
  -4,680
  -5,558
  -6,523
  -7,575
  -8,712
  -9,932
  -11,233
  -12,613
  -14,071
  -15,605
  -17,214
  -18,898
  -20,656
  -22,488
  -24,395
  -26,380
  -28,443
  -30,587
Issuance/(repayment) of debt, $m
  0
  36
  64
  89
  121
  161
  207
  260
  319
  383
  452
  525
  600
  677
  754
  831
  908
  983
  1,056
  1,128
  1,197
  1,266
  1,333
  1,399
  1,464
  1,529
  1,595
  1,661
  1,728
  1,797
  1,868
Issuance/(repurchase) of shares, $m
  0
  139
  203
  306
  446
  630
  868
  1,166
  1,531
  1,971
  2,489
  3,090
  3,777
  4,552
  5,415
  6,365
  7,403
  8,525
  9,731
  11,019
  12,386
  13,831
  15,353
  16,949
  18,620
  20,366
  22,185
  24,080
  26,052
  28,102
  30,233
Cash from financing (excl. dividends), $m  
  0
  175
  267
  395
  567
  791
  1,075
  1,426
  1,850
  2,354
  2,941
  3,615
  4,377
  5,229
  6,169
  7,196
  8,311
  9,508
  10,787
  12,147
  13,583
  15,097
  16,686
  18,348
  20,084
  21,895
  23,780
  25,741
  27,780
  29,899
  32,101
Total cash flow (excl. dividends), $m
  -5
  35
  51
  72
  98
  130
  167
  210
  258
  311
  367
  426
  486
  549
  611
  674
  736
  796
  856
  914
  970
  1,026
  1,080
  1,134
  1,187
  1,239
  1,292
  1,346
  1,400
  1,456
  1,513
Retained Cash Flow (-), $m
  26
  -139
  -203
  -306
  -446
  -630
  -868
  -1,166
  -1,531
  -1,971
  -2,489
  -3,090
  -3,777
  -4,552
  -5,415
  -6,365
  -7,403
  -8,525
  -9,731
  -11,019
  -12,386
  -13,831
  -15,353
  -16,949
  -18,620
  -20,366
  -22,185
  -24,080
  -26,052
  -28,102
  -30,233
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
 
  -103
  -152
  -234
  -347
  -500
  -700
  -956
  -1,273
  -1,660
  -2,122
  -2,665
  -3,291
  -4,003
  -4,803
  -5,692
  -6,667
  -7,729
  -8,876
  -10,105
  -11,416
  -12,805
  -14,273
  -15,816
  -17,434
  -19,126
  -20,893
  -22,735
  -24,652
  -26,646
  -28,719
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
 
  -99
  -139
  -203
  -286
  -388
  -508
  -646
  -796
  -954
  -1,113
  -1,265
  -1,404
  -1,522
  -1,613
  -1,671
  -1,694
  -1,682
  -1,635
  -1,556
  -1,451
  -1,325
  -1,184
  -1,037
  -888
  -744
  -610
  -488
  -381
  -291
  -216
Current shareholders' claim on cash, %
  100
  50.0
  3.0
  0.2
  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
  0.0
  0.0

VAALCO Energy, Inc., an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas in the United States. The company owns producing properties and conducts exploration activities as an operator in Gabon and Angola, as well as conducts exploration activities as a non-operator in Equatorial Guinea, West Africa. It also acts as the operator of unconventional resource properties in North Texas and a lease hold in Montana; and owns minor interests in conventional production activities as a non-operator. The company holds 40% working interest in Block 5 covering an area of approximately 1.4 million acres in offshore Angola; and owns 31% working interest in Block P located offshore Equatorial Guinea. VAALCO Energy, Inc. was founded in 1984 and is headquartered in Houston, Texas.

FINANCIAL RATIOS  of  Vaalco Energy (EGY)

Valuation Ratios
P/E Ratio -1.6
Price to Sales 0.7
Price to Book 0
Price to Tangible Book
Price to Cash Flow -14.8
Price to Free Cash Flow -3.7
Growth Rates
Sales Growth Rate -25%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -86.8%
Cap. Spend. - 3 Yr. Gr. Rate -33.1%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage -8
Management Effectiveness
Return On Assets -24.4%
Ret/ On Assets - 3 Yr. Avg. -45.7%
Return On Total Capital -98.2%
Ret/ On T. Cap. - 3 Yr. Avg. -89.3%
Return On Equity -207.7%
Return On Equity - 3 Yr. Avg. -132.8%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 36.7%
Gross Margin - 3 Yr. Avg. 53.9%
EBITDA Margin -1.7%
EBITDA Margin - 3 Yr. Avg. -38.6%
Operating Margin -6.7%
Oper. Margin - 3 Yr. Avg. -58.6%
Pre-Tax Margin -15%
Pre-Tax Margin - 3 Yr. Avg. -62.4%
Net Profit Margin -45%
Net Profit Margin - 3 Yr. Avg. -101.6%
Effective Tax Rate -100%
Eff/ Tax Rate - 3 Yr. Avg. -53.1%
Payout Ratio 0%

EGY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EGY stock intrinsic value calculation we used $60 million for the last fiscal year's total revenue generated by Vaalco Energy. The default revenue input number comes from 2016 income statement of Vaalco Energy. 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 EGY 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 EGY is calculated based on our internal credit rating of Vaalco Energy, 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 Vaalco Energy.
    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 EGY stock the variable cost ratio is equal to 230%.

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 EGY 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 6.9% for Vaalco Energy.

Corporate tax rate of 27% is the nominal tax rate for Vaalco Energy. 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 EGY 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 EGY are equal to 51.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Vaalco Energy 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 EGY 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 - $0 million for Vaalco Energy - 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 58.117 million for Vaalco Energy 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 Vaalco Energy at the current share price and the inputted number of shares is $0.0 billion.

RELATED COMPANIES Price Int.Val. Rating
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XOM Exxon Mobil 76.26 102.38  buy
HES Hess Corp. 38.37 11.46  str.sell

COMPANY NEWS

▶ Vaalco Energy posts 2Q profit   [Aug-10-17 01:08AM  Associated Press]
▶ VAALCO Energy, Inc. Announces Second Quarter 2017 Results   [Aug-08-17 09:55PM  GlobeNewswire]
▶ VAALCO Provides Operational Update   [Jul-20-17 04:45PM  GlobeNewswire]
▶ ETFs with exposure to VAALCO Energy, Inc. : May 29, 2017   [May-29-17 12:45PM  Capital Cube]
▶ ETFs with exposure to VAALCO Energy, Inc. : May 18, 2017   [May-18-17 01:41PM  Capital Cube]
▶ Vaalco Energy posts 1Q profit   [May-08-17 06:14PM  Associated Press]
▶ Houston energy company names new CFO   [Apr-18-17 03:10PM  American City Business Journals]
▶ Houston energy company receives another delisting warning from NYSE   [Apr-10-17 06:10PM  American City Business Journals]
▶ Webcast-OGIS New York for VAALCO Energy, Inc.   [Mar-08-17 05:56PM  at Company Spotlight]
▶ VAALCO Energy Announces Year-End 2016 Reserves   [Feb-21-17 04:45PM  GlobeNewswire]
▶ Houston energy co. names permanent CEO   [Jan-04-17 09:40AM  at bizjournals.com]
▶ VAALCO Energy Provides Update on Operations   [Sep-15-16 06:45AM  GlobeNewswire]
▶ Houston energy co. CEO announces retirement   [09:45AM  at bizjournals.com]
Stock chart of EGY Financial statements of EGY
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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