Intrinsic value of Global Eagle Entertainment - ENT

Previous Close

$1.99

  Intrinsic Value

$4.30

stock screener

  Rating & Target

str. buy

+116%

Previous close

$1.99

 
Intrinsic value

$4.30

 
Up/down potential

+116%

 
Rating

str. buy

We calculate the intrinsic value of ENT 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  24.41
  38.90
  35.51
  32.46
  29.71
  27.24
  25.02
  23.02
  21.21
  19.59
  18.13
  16.82
  15.64
  14.57
  13.62
  12.76
  11.98
  11.28
  10.65
  10.09
  9.58
  9.12
  8.71
  8.34
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.60
Revenue, $m
  530
  736
  998
  1,321
  1,714
  2,181
  2,727
  3,354
  4,066
  4,862
  5,744
  6,710
  7,759
  8,890
  10,101
  11,389
  12,754
  14,192
  15,704
  17,289
  18,945
  20,673
  22,473
  24,347
  26,296
  28,322
  30,428
  32,615
  34,889
  37,253
  39,710
Variable operating expenses, $m
 
  739
  990
  1,300
  1,677
  2,125
  2,648
  3,250
  3,932
  4,696
  5,542
  6,436
  7,442
  8,527
  9,688
  10,924
  12,232
  13,612
  15,062
  16,582
  18,170
  19,828
  21,555
  23,352
  25,221
  27,164
  29,183
  31,282
  33,463
  35,729
  38,086
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
  692
  739
  990
  1,300
  1,677
  2,125
  2,648
  3,250
  3,932
  4,696
  5,542
  6,436
  7,442
  8,527
  9,688
  10,924
  12,232
  13,612
  15,062
  16,582
  18,170
  19,828
  21,555
  23,352
  25,221
  27,164
  29,183
  31,282
  33,463
  35,729
  38,086
Operating income, $m
  -163
  -3
  8
  21
  37
  56
  79
  104
  133
  166
  202
  274
  317
  363
  413
  466
  521
  580
  642
  707
  775
  845
  919
  995
  1,075
  1,158
  1,244
  1,334
  1,427
  1,523
  1,624
EBITDA, $m
  -106
  73
  98
  130
  169
  215
  269
  331
  401
  480
  567
  662
  765
  877
  996
  1,123
  1,258
  1,400
  1,549
  1,705
  1,869
  2,039
  2,217
  2,402
  2,594
  2,794
  3,001
  3,217
  3,441
  3,674
  3,917
Interest expense (income), $m
  19
  33
  54
  82
  116
  157
  207
  264
  330
  405
  489
  582
  683
  794
  913
  1,040
  1,176
  1,320
  1,471
  1,630
  1,797
  1,971
  2,153
  2,343
  2,540
  2,745
  2,959
  3,180
  3,411
  3,650
  3,899
Earnings before tax, $m
  -158
  -35
  -46
  -61
  -79
  -101
  -128
  -160
  -197
  -239
  -287
  -307
  -366
  -430
  -500
  -575
  -654
  -739
  -829
  -923
  -1,022
  -1,126
  -1,234
  -1,347
  -1,465
  -1,587
  -1,714
  -1,847
  -1,984
  -2,127
  -2,275
Tax expense, $m
  -45
  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
  -113
  -35
  -46
  -61
  -79
  -101
  -128
  -160
  -197
  -239
  -287
  -307
  -366
  -430
  -500
  -575
  -654
  -739
  -829
  -923
  -1,022
  -1,126
  -1,234
  -1,347
  -1,465
  -1,587
  -1,714
  -1,847
  -1,984
  -2,127
  -2,275

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  51
  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
  1,099
  1,455
  1,972
  2,611
  3,387
  4,310
  5,388
  6,629
  8,035
  9,609
  11,352
  13,261
  15,335
  17,570
  19,962
  22,508
  25,205
  28,048
  31,037
  34,168
  37,441
  40,856
  44,414
  48,117
  51,969
  55,973
  60,134
  64,457
  68,951
  73,622
  78,478
Adjusted assets (=assets-cash), $m
  1,048
  1,455
  1,972
  2,611
  3,387
  4,310
  5,388
  6,629
  8,035
  9,609
  11,352
  13,261
  15,335
  17,570
  19,962
  22,508
  25,205
  28,048
  31,037
  34,168
  37,441
  40,856
  44,414
  48,117
  51,969
  55,973
  60,134
  64,457
  68,951
  73,622
  78,478
Revenue / Adjusted assets
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
Average production assets, $m
  245
  340
  461
  610
  792
  1,008
  1,260
  1,550
  1,878
  2,246
  2,654
  3,100
  3,585
  4,107
  4,667
  5,262
  5,892
  6,557
  7,255
  7,987
  8,753
  9,551
  10,383
  11,249
  12,149
  13,085
  14,058
  15,068
  16,119
  17,211
  18,346
Working capital, $m
  -7
  -78
  -106
  -140
  -182
  -231
  -289
  -356
  -431
  -515
  -609
  -711
  -822
  -942
  -1,071
  -1,207
  -1,352
  -1,504
  -1,665
  -1,833
  -2,008
  -2,191
  -2,382
  -2,581
  -2,787
  -3,002
  -3,225
  -3,457
  -3,698
  -3,949
  -4,209
Total debt, $m
  470
  777
  1,170
  1,657
  2,248
  2,950
  3,771
  4,714
  5,785
  6,983
  8,309
  9,762
  11,340
  13,041
  14,861
  16,799
  18,851
  21,015
  23,289
  25,672
  28,162
  30,761
  33,469
  36,287
  39,218
  42,265
  45,432
  48,722
  52,142
  55,696
  59,392
Total liabilities, $m
  800
  1,107
  1,500
  1,987
  2,578
  3,280
  4,101
  5,044
  6,115
  7,313
  8,639
  10,092
  11,670
  13,371
  15,191
  17,129
  19,181
  21,345
  23,619
  26,002
  28,492
  31,091
  33,799
  36,617
  39,548
  42,595
  45,762
  49,052
  52,472
  56,026
  59,722
Total equity, $m
  299
  348
  471
  624
  810
  1,030
  1,288
  1,584
  1,920
  2,297
  2,713
  3,169
  3,665
  4,199
  4,771
  5,380
  6,024
  6,704
  7,418
  8,166
  8,948
  9,765
  10,615
  11,500
  12,421
  13,377
  14,372
  15,405
  16,479
  17,596
  18,756
Total liabilities and equity, $m
  1,099
  1,455
  1,971
  2,611
  3,388
  4,310
  5,389
  6,628
  8,035
  9,610
  11,352
  13,261
  15,335
  17,570
  19,962
  22,509
  25,205
  28,049
  31,037
  34,168
  37,440
  40,856
  44,414
  48,117
  51,969
  55,972
  60,134
  64,457
  68,951
  73,622
  78,478
Debt-to-equity ratio
  1.572
  2.240
  2.480
  2.660
  2.780
  2.860
  2.930
  2.980
  3.010
  3.040
  3.060
  3.080
  3.090
  3.110
  3.110
  3.120
  3.130
  3.130
  3.140
  3.140
  3.150
  3.150
  3.150
  3.160
  3.160
  3.160
  3.160
  3.160
  3.160
  3.170
  3.170
Adjusted equity ratio
  0.237
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -113
  -35
  -46
  -61
  -79
  -101
  -128
  -160
  -197
  -239
  -287
  -307
  -366
  -430
  -500
  -575
  -654
  -739
  -829
  -923
  -1,022
  -1,126
  -1,234
  -1,347
  -1,465
  -1,587
  -1,714
  -1,847
  -1,984
  -2,127
  -2,275
Depreciation, amort., depletion, $m
  57
  75
  90
  109
  132
  159
  190
  226
  268
  314
  365
  388
  448
  513
  583
  658
  737
  820
  907
  998
  1,094
  1,194
  1,298
  1,406
  1,519
  1,636
  1,757
  1,884
  2,015
  2,151
  2,293
Funds from operations, $m
  -43
  40
  44
  48
  53
  58
  62
  67
  71
  75
  78
  80
  82
  83
  83
  83
  82
  80
  78
  75
  72
  68
  63
  59
  54
  48
  43
  37
  31
  25
  18
Change in working capital, $m
  -6
  -22
  -28
  -34
  -42
  -49
  -58
  -67
  -75
  -84
  -93
  -102
  -111
  -120
  -128
  -137
  -145
  -153
  -160
  -168
  -176
  -183
  -191
  -199
  -207
  -215
  -223
  -232
  -241
  -251
  -260
Cash from operations, $m
  -37
  62
  72
  83
  95
  107
  120
  133
  146
  159
  171
  183
  193
  203
  212
  220
  227
  233
  238
  243
  247
  251
  254
  257
  260
  263
  266
  269
  272
  275
  279
Maintenance CAPEX, $m
  0
  -31
  -43
  -58
  -76
  -99
  -126
  -157
  -194
  -235
  -281
  -332
  -388
  -448
  -513
  -583
  -658
  -737
  -820
  -907
  -998
  -1,094
  -1,194
  -1,298
  -1,406
  -1,519
  -1,636
  -1,757
  -1,884
  -2,015
  -2,151
New CAPEX, $m
  -54
  -95
  -121
  -150
  -181
  -216
  -252
  -290
  -329
  -368
  -407
  -446
  -485
  -522
  -559
  -595
  -630
  -665
  -699
  -732
  -765
  -798
  -832
  -866
  -900
  -936
  -973
  -1,011
  -1,050
  -1,092
  -1,135
Cash from investing activities, $m
  -151
  -126
  -164
  -208
  -257
  -315
  -378
  -447
  -523
  -603
  -688
  -778
  -873
  -970
  -1,072
  -1,178
  -1,288
  -1,402
  -1,519
  -1,639
  -1,763
  -1,892
  -2,026
  -2,164
  -2,306
  -2,455
  -2,609
  -2,768
  -2,934
  -3,107
  -3,286
Free cash flow, $m
  -188
  -64
  -92
  -124
  -163
  -207
  -258
  -314
  -376
  -444
  -517
  -595
  -679
  -768
  -861
  -959
  -1,061
  -1,168
  -1,280
  -1,396
  -1,516
  -1,642
  -1,771
  -1,906
  -2,046
  -2,192
  -2,342
  -2,499
  -2,662
  -2,832
  -3,008
Issuance/(repayment) of debt, $m
  24
  309
  393
  487
  590
  702
  821
  944
  1,070
  1,198
  1,326
  1,453
  1,578
  1,701
  1,821
  1,938
  2,052
  2,164
  2,274
  2,383
  2,491
  2,599
  2,708
  2,818
  2,931
  3,047
  3,166
  3,290
  3,420
  3,555
  3,696
Issuance/(repurchase) of shares, $m
  -6
  133
  170
  214
  264
  322
  386
  456
  533
  615
  703
  764
  862
  964
  1,072
  1,183
  1,299
  1,419
  1,543
  1,672
  1,805
  1,942
  2,085
  2,232
  2,385
  2,544
  2,709
  2,880
  3,058
  3,243
  3,436
Cash from financing (excl. dividends), $m  
  14
  442
  563
  701
  854
  1,024
  1,207
  1,400
  1,603
  1,813
  2,029
  2,217
  2,440
  2,665
  2,893
  3,121
  3,351
  3,583
  3,817
  4,055
  4,296
  4,541
  4,793
  5,050
  5,316
  5,591
  5,875
  6,170
  6,478
  6,798
  7,132
Total cash flow (excl. dividends), $m
  -173
  378
  471
  576
  692
  816
  948
  1,086
  1,227
  1,369
  1,512
  1,621
  1,761
  1,898
  2,031
  2,162
  2,290
  2,414
  2,537
  2,659
  2,779
  2,900
  3,021
  3,145
  3,270
  3,400
  3,533
  3,671
  3,815
  3,966
  4,124
Retained Cash Flow (-), $m
  55
  -133
  -170
  -214
  -264
  -322
  -386
  -456
  -533
  -615
  -703
  -764
  -862
  -964
  -1,072
  -1,183
  -1,299
  -1,419
  -1,543
  -1,672
  -1,805
  -1,942
  -2,085
  -2,232
  -2,385
  -2,544
  -2,709
  -2,880
  -3,058
  -3,243
  -3,436
Prev. year cash balance distribution, $m
 
  49
  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
 
  294
  302
  363
  427
  495
  563
  630
  694
  754
  809
  858
  899
  933
  960
  979
  991
  996
  994
  987
  974
  957
  936
  912
  885
  855
  824
  791
  757
  723
  688
Discount rate, %
 
  10.30
  10.82
  11.36
  11.92
  12.52
  13.15
  13.80
  14.49
  15.22
  15.98
  16.78
  17.62
  18.50
  19.42
  20.39
  21.41
  22.48
  23.61
  24.79
  26.03
  27.33
  28.70
  30.13
  31.64
  33.22
  34.88
  36.62
  38.45
  40.38
  42.40
PV of cash for distribution, $m
 
  267
  246
  263
  272
  274
  268
  255
  235
  211
  184
  156
  128
  103
  80
  60
  44
  32
  22
  15
  10
  6
  4
  2
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  56.8
  33.4
  20.3
  12.6
  8.1
  5.3
  3.5
  2.4
  1.6
  1.1
  0.8
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Global Eagle Entertainment Inc. is a provider of aircraft connectivity systems, operations solutions and media content to the travel industry. The Company's segments include Connectivity and Content. Its Connectivity segment provides airline partners and their passengers with Wireless Fidelity (Wi-Fi) connectivity over Ku-band satellite transmissions, and to a lesser extent operations solutions to airline customers. Its Content segment selects, manages and distributes wholly owned and licensed media content, video and music programming, applications, digital advertising solutions and games to over 150 airlines across the world, as well as to maritime and other away-from-home non-theatrical markets. The Company, through its product and services platform, provide airlines with a range of in-flight solutions, including Wi-Fi, movies, television, music, interactive software, as well as portable in-flight entertainment (IFE) solutions, content management services and e-commerce solutions.

FINANCIAL RATIOS  of  Global Eagle Entertainment (ENT)

Valuation Ratios
P/E Ratio -1.5
Price to Sales 0.3
Price to Book 0.6
Price to Tangible Book
Price to Cash Flow -4.6
Price to Free Cash Flow -1.9
Growth Rates
Sales Growth Rate 24.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 157.1%
Cap. Spend. - 3 Yr. Gr. Rate 37.5%
Financial Strength
Quick Ratio 26
Current Ratio 0.1
LT Debt to Equity 156.5%
Total Debt to Equity 157.2%
Interest Coverage -7
Management Effectiveness
Return On Assets -11.4%
Ret/ On Assets - 3 Yr. Avg. -7.2%
Return On Total Capital -18.9%
Ret/ On T. Cap. - 3 Yr. Avg. -12.1%
Return On Equity -34.6%
Return On Equity - 3 Yr. Avg. -17.5%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 30.9%
Gross Margin - 3 Yr. Avg. 30.9%
EBITDA Margin -15.5%
EBITDA Margin - 3 Yr. Avg. -3.4%
Operating Margin -30.6%
Oper. Margin - 3 Yr. Avg. -14.1%
Pre-Tax Margin -29.8%
Pre-Tax Margin - 3 Yr. Avg. -14.1%
Net Profit Margin -21.3%
Net Profit Margin - 3 Yr. Avg. -12.2%
Effective Tax Rate 28.5%
Eff/ Tax Rate - 3 Yr. Avg. -30.9%
Payout Ratio 0%

ENT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ENT stock intrinsic value calculation we used $530 million for the last fiscal year's total revenue generated by Global Eagle Entertainment. The default revenue input number comes from 2016 income statement of Global Eagle Entertainment. 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 ENT stock valuation model: a) initial revenue growth rate of 38.9% 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 10.3%, whose default value for ENT is calculated based on our internal credit rating of Global Eagle Entertainment, 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 Global Eagle Entertainment.
    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 ENT stock the variable cost ratio is equal to 102.1%.

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 ENT 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% for Global Eagle Entertainment.

Corporate tax rate of 27% is the nominal tax rate for Global Eagle Entertainment. 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 ENT 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 ENT are equal to 46.2%.

Life of production assets of 8 years is the average useful life of capital assets used in Global Eagle Entertainment 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 ENT is equal to -10.6%. 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 - $299 million for Global Eagle Entertainment - 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 88.393 million for Global Eagle Entertainment 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 Global Eagle Entertainment at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ Great Lakes Announces Changes to Board of Directors   [Nov-30-17 08:00AM  GlobeNewswire]
▶ Global Eagle Obtains Extension   [Oct-07-17 07:21PM  GlobeNewswire]
▶ Global Eagle Entertainment posts 4Q loss   [Sep-14-17 09:45PM  Associated Press]
▶ Global Eagle Provides Business Update   [04:15PM  GlobeNewswire]
▶ Is Global Eagle Entertainment Inc (ENT) Undervalued?   [Sep-11-17 07:15AM  Simply Wall St.]
▶ [$$] China's HNA Deal With Global Eagle Falls Apart   [08:48AM  The Wall Street Journal]
▶ Global Eagle Announces Receipt of NASDAQ Notification   [May-19-17 04:30PM  GlobeNewswire]
Financial statements of ENT
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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