Intrinsic value of Global Eagle Entertainment - ENT

Previous Close

$2.74

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$2.74

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

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
  16.90
  15.71
  14.64
  13.68
  12.81
  12.03
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
  7.21
  6.98
  6.79
  6.61
  6.45
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
Revenue, $m
  530
  724
  837
  960
  1,091
  1,231
  1,379
  1,535
  1,699
  1,871
  2,051
  2,239
  2,434
  2,638
  2,849
  3,069
  3,298
  3,536
  3,783
  4,039
  4,306
  4,584
  4,873
  5,174
  5,487
  5,813
  6,153
  6,508
  6,879
  7,266
  7,670
Variable operating expenses, $m
 
  938
  1,077
  1,227
  1,388
  1,559
  1,740
  1,931
  2,132
  2,343
  2,563
  2,742
  2,981
  3,230
  3,489
  3,759
  4,039
  4,330
  4,632
  4,947
  5,274
  5,614
  5,967
  6,336
  6,719
  7,119
  7,536
  7,971
  8,424
  8,898
  9,393
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
  938
  1,077
  1,227
  1,388
  1,559
  1,740
  1,931
  2,132
  2,343
  2,563
  2,742
  2,981
  3,230
  3,489
  3,759
  4,039
  4,330
  4,632
  4,947
  5,274
  5,614
  5,967
  6,336
  6,719
  7,119
  7,536
  7,971
  8,424
  8,898
  9,393
Operating income, $m
  -163
  -214
  -240
  -267
  -297
  -328
  -361
  -396
  -433
  -472
  -512
  -503
  -547
  -593
  -640
  -690
  -741
  -794
  -850
  -907
  -967
  -1,030
  -1,095
  -1,162
  -1,233
  -1,306
  -1,382
  -1,462
  -1,545
  -1,632
  -1,723
EBITDA, $m
  -106
  -107
  -124
  -142
  -162
  -182
  -204
  -227
  -252
  -277
  -304
  -331
  -360
  -390
  -422
  -454
  -488
  -523
  -560
  -598
  -638
  -679
  -721
  -766
  -812
  -861
  -911
  -964
  -1,018
  -1,076
  -1,135
Interest expense (income), $m
  19
  102
  131
  163
  197
  233
  272
  314
  357
  403
  451
  502
  554
  609
  665
  725
  786
  850
  916
  985
  1,057
  1,131
  1,209
  1,290
  1,374
  1,461
  1,552
  1,647
  1,747
  1,850
  1,958
Earnings before tax, $m
  -158
  -316
  -370
  -430
  -493
  -562
  -634
  -710
  -791
  -875
  -964
  -1,004
  -1,101
  -1,201
  -1,305
  -1,414
  -1,527
  -1,644
  -1,766
  -1,893
  -2,024
  -2,161
  -2,304
  -2,452
  -2,606
  -2,767
  -2,935
  -3,109
  -3,292
  -3,482
  -3,681
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
  -316
  -370
  -430
  -493
  -562
  -634
  -710
  -791
  -875
  -964
  -1,004
  -1,101
  -1,201
  -1,305
  -1,414
  -1,527
  -1,644
  -1,766
  -1,893
  -2,024
  -2,161
  -2,304
  -2,452
  -2,606
  -2,767
  -2,935
  -3,109
  -3,292
  -3,482
  -3,681

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
  1,285
  1,487
  1,705
  1,938
  2,186
  2,449
  2,727
  3,018
  3,324
  3,643
  3,976
  4,324
  4,685
  5,061
  5,452
  5,858
  6,280
  6,719
  7,175
  7,649
  8,142
  8,655
  9,189
  9,746
  10,325
  10,930
  11,560
  12,218
  12,905
  13,623
Adjusted assets (=assets-cash), $m
  1,048
  1,285
  1,487
  1,705
  1,938
  2,186
  2,449
  2,727
  3,018
  3,324
  3,643
  3,976
  4,324
  4,685
  5,061
  5,452
  5,858
  6,280
  6,719
  7,175
  7,649
  8,142
  8,655
  9,189
  9,746
  10,325
  10,930
  11,560
  12,218
  12,905
  13,623
Revenue / Adjusted assets
  0.506
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
Average production assets, $m
  245
  554
  641
  735
  836
  943
  1,056
  1,176
  1,302
  1,433
  1,571
  1,715
  1,865
  2,020
  2,183
  2,351
  2,526
  2,708
  2,898
  3,094
  3,299
  3,511
  3,733
  3,963
  4,203
  4,453
  4,714
  4,985
  5,269
  5,566
  5,875
Working capital, $m
  -7
  -250
  -290
  -332
  -378
  -426
  -477
  -531
  -588
  -647
  -710
  -775
  -842
  -913
  -986
  -1,062
  -1,141
  -1,223
  -1,309
  -1,398
  -1,490
  -1,586
  -1,686
  -1,790
  -1,898
  -2,011
  -2,129
  -2,252
  -2,380
  -2,514
  -2,654
Total debt, $m
  470
  606
  753
  911
  1,081
  1,261
  1,453
  1,655
  1,867
  2,089
  2,322
  2,565
  2,817
  3,081
  3,354
  3,639
  3,935
  4,242
  4,561
  4,893
  5,238
  5,597
  5,971
  6,360
  6,765
  7,187
  7,627
  8,086
  8,565
  9,065
  9,587
Total liabilities, $m
  800
  936
  1,083
  1,241
  1,411
  1,592
  1,783
  1,985
  2,197
  2,420
  2,652
  2,895
  3,148
  3,411
  3,684
  3,969
  4,265
  4,572
  4,891
  5,223
  5,568
  5,927
  6,301
  6,690
  7,095
  7,517
  7,957
  8,416
  8,895
  9,395
  9,918
Total equity, $m
  299
  350
  405
  464
  527
  595
  666
  742
  821
  904
  991
  1,082
  1,176
  1,274
  1,377
  1,483
  1,593
  1,708
  1,828
  1,952
  2,080
  2,215
  2,354
  2,499
  2,651
  2,808
  2,973
  3,144
  3,323
  3,510
  3,705
Total liabilities and equity, $m
  1,099
  1,286
  1,488
  1,705
  1,938
  2,187
  2,449
  2,727
  3,018
  3,324
  3,643
  3,977
  4,324
  4,685
  5,061
  5,452
  5,858
  6,280
  6,719
  7,175
  7,648
  8,142
  8,655
  9,189
  9,746
  10,325
  10,930
  11,560
  12,218
  12,905
  13,623
Debt-to-equity ratio
  1.572
  1.730
  1.860
  1.960
  2.050
  2.120
  2.180
  2.230
  2.270
  2.310
  2.340
  2.370
  2.400
  2.420
  2.440
  2.450
  2.470
  2.480
  2.500
  2.510
  2.520
  2.530
  2.540
  2.540
  2.550
  2.560
  2.570
  2.570
  2.580
  2.580
  2.590
Adjusted equity ratio
  0.237
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -113
  -316
  -370
  -430
  -493
  -562
  -634
  -710
  -791
  -875
  -964
  -1,004
  -1,101
  -1,201
  -1,305
  -1,414
  -1,527
  -1,644
  -1,766
  -1,893
  -2,024
  -2,161
  -2,304
  -2,452
  -2,606
  -2,767
  -2,935
  -3,109
  -3,292
  -3,482
  -3,681
Depreciation, amort., depletion, $m
  57
  107
  116
  125
  135
  146
  157
  169
  182
  195
  209
  171
  186
  202
  218
  235
  253
  271
  290
  309
  330
  351
  373
  396
  420
  445
  471
  499
  527
  557
  588
Funds from operations, $m
  -43
  -209
  -255
  -305
  -358
  -416
  -477
  -541
  -609
  -680
  -755
  -833
  -914
  -999
  -1,087
  -1,179
  -1,274
  -1,373
  -1,476
  -1,583
  -1,694
  -1,810
  -1,930
  -2,056
  -2,186
  -2,322
  -2,463
  -2,611
  -2,765
  -2,926
  -3,093
Change in working capital, $m
  -6
  -36
  -39
  -42
  -45
  -48
  -51
  -54
  -57
  -60
  -62
  -65
  -68
  -70
  -73
  -76
  -79
  -82
  -85
  -89
  -92
  -96
  -100
  -104
  -108
  -113
  -118
  -123
  -128
  -134
  -140
Cash from operations, $m
  -37
  -173
  -215
  -262
  -313
  -367
  -425
  -487
  -552
  -621
  -693
  -768
  -847
  -929
  -1,014
  -1,103
  -1,195
  -1,291
  -1,391
  -1,494
  -1,602
  -1,714
  -1,830
  -1,952
  -2,078
  -2,209
  -2,346
  -2,488
  -2,637
  -2,792
  -2,954
Maintenance CAPEX, $m
  0
  -47
  -55
  -64
  -74
  -84
  -94
  -106
  -118
  -130
  -143
  -157
  -171
  -186
  -202
  -218
  -235
  -253
  -271
  -290
  -309
  -330
  -351
  -373
  -396
  -420
  -445
  -471
  -499
  -527
  -557
New CAPEX, $m
  -54
  -80
  -87
  -94
  -101
  -107
  -113
  -120
  -126
  -132
  -138
  -144
  -150
  -156
  -162
  -169
  -175
  -182
  -189
  -197
  -204
  -213
  -221
  -230
  -240
  -250
  -261
  -272
  -284
  -296
  -309
Cash from investing activities, $m
  -151
  -127
  -142
  -158
  -175
  -191
  -207
  -226
  -244
  -262
  -281
  -301
  -321
  -342
  -364
  -387
  -410
  -435
  -460
  -487
  -513
  -543
  -572
  -603
  -636
  -670
  -706
  -743
  -783
  -823
  -866
Free cash flow, $m
  -188
  -300
  -358
  -420
  -487
  -558
  -633
  -712
  -795
  -883
  -974
  -1,069
  -1,168
  -1,271
  -1,378
  -1,490
  -1,605
  -1,726
  -1,851
  -1,981
  -2,116
  -2,257
  -2,403
  -2,555
  -2,714
  -2,879
  -3,052
  -3,231
  -3,419
  -3,615
  -3,820
Issuance/(repayment) of debt, $m
  24
  135
  147
  158
  170
  181
  191
  202
  212
  222
  233
  243
  253
  263
  274
  285
  296
  307
  319
  332
  345
  359
  374
  389
  405
  422
  440
  459
  479
  500
  522
Issuance/(repurchase) of shares, $m
  -6
  366
  425
  489
  557
  629
  705
  786
  870
  958
  1,051
  1,095
  1,195
  1,299
  1,408
  1,520
  1,637
  1,759
  1,885
  2,017
  2,153
  2,295
  2,443
  2,597
  2,758
  2,925
  3,099
  3,281
  3,471
  3,669
  3,876
Cash from financing (excl. dividends), $m  
  14
  501
  572
  647
  727
  810
  896
  988
  1,082
  1,180
  1,284
  1,338
  1,448
  1,562
  1,682
  1,805
  1,933
  2,066
  2,204
  2,349
  2,498
  2,654
  2,817
  2,986
  3,163
  3,347
  3,539
  3,740
  3,950
  4,169
  4,398
Total cash flow (excl. dividends), $m
  -173
  202
  214
  227
  240
  252
  264
  275
  287
  298
  309
  269
  280
  292
  303
  315
  328
  340
  354
  368
  382
  398
  414
  431
  449
  468
  488
  509
  531
  554
  579
Retained Cash Flow (-), $m
  55
  -366
  -425
  -489
  -557
  -629
  -705
  -786
  -870
  -958
  -1,051
  -1,095
  -1,195
  -1,299
  -1,408
  -1,520
  -1,637
  -1,759
  -1,885
  -2,017
  -2,153
  -2,295
  -2,443
  -2,597
  -2,758
  -2,925
  -3,099
  -3,281
  -3,471
  -3,669
  -3,876
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
 
  7
  9
  10
  12
  13
  15
  17
  18
  20
  22
  25
  27
  29
  32
  34
  37
  40
  42
  45
  48
  52
  55
  58
  62
  66
  70
  74
  78
  83
  87
Cash available for distribution, $m
 
  -165
  -211
  -262
  -317
  -377
  -442
  -510
  -583
  -660
  -741
  -826
  -915
  -1,008
  -1,104
  -1,205
  -1,310
  -1,418
  -1,531
  -1,649
  -1,771
  -1,898
  -2,029
  -2,166
  -2,309
  -2,457
  -2,611
  -2,772
  -2,940
  -3,115
  -3,297
Discount rate, %
 
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
  34.58
PV of cash for distribution, $m
 
  -152
  -178
  -201
  -219
  -232
  -240
  -242
  -239
  -230
  -218
  -202
  -183
  -162
  -141
  -120
  -100
  -81
  -64
  -50
  -38
  -28
  -20
  -14
  -9
  -6
  -4
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  39.7
  15.8
  6.3
  2.5
  1.0
  0.4
  0.2
  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

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 -2.1
Price to Sales 0.4
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow -6.3
Price to Free Cash Flow -2.6
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 $619 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 16.9% 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 8.4%, 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 130.8%.

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 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 21.6% 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 1.2%.

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 76.6%.

Life of production assets of 10 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 -34.6%. 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 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

▶ Even at $4 Per Share, Gogo Wont Make You Dough   [Jul-17-18 10:53AM  InvestorPlace]
▶ Global Eagle Entertainment: 1Q Earnings Snapshot   [May-15-18 09:06AM  Associated Press]
▶ Who Owns Most Of Enter Air Sp z o.o. (WSE:ENT)?   [Apr-12-18 03:15AM  Simply Wall St.]
▶ Global Eagle Entertainment posts 4Q loss   [Apr-02-18 06:24PM  Associated Press]
▶ [$$] Searchlight Capital to Invest $150 Million in Global Eagle   [Mar-09-18 01:24PM  The Wall Street Journal]
▶ Great Lakes Announces Changes to Board of Directors   [Nov-30-17 08:00AM  GlobeNewswire]
▶ Global Eagle Obtains Extension   [Oct-07-17 07:21PM  GlobeNewswire]
▶ Global Eagle Entertainment posts 4Q loss   [Sep-14-17 09:45PM  Associated Press]
▶ Global Eagle Provides Business Update   [04:15PM  GlobeNewswire]
▶ Is Global Eagle Entertainment Inc (ENT) Undervalued?   [Sep-11-17 07:15AM  Simply Wall St.]
▶ [$$] 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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