Intrinsic value of Envestnet - ENV

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$38.50

  Intrinsic Value

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  Value-price divergence*

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

We calculate the intrinsic value of ENV 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 1.6

 

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, %
  37.29
  44.70
  40.73
  37.16
  33.94
  31.05
  28.44
  26.10
  23.99
  22.09
  20.38
  18.84
  17.46
  16.21
  15.09
  14.08
  13.17
  12.36
  11.62
  10.96
  10.36
  9.83
  9.34
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
Revenue, $m
  578
  609
  857
  1,176
  1,575
  2,064
  2,651
  3,343
  4,145
  5,060
  6,092
  7,239
  8,503
  9,882
  11,373
  12,975
  14,684
  16,498
  18,416
  20,434
  22,551
  24,767
  27,082
  29,495
  32,007
  34,621
  37,339
  40,163
  43,099
  46,149
  49,320
Variable operating expenses, $m
 
  554
  763
  1,031
  1,367
  1,778
  2,272
  2,853
  3,528
  4,298
  5,165
  6,088
  7,151
  8,311
  9,565
  10,912
  12,349
  13,875
  15,488
  17,185
  18,966
  20,829
  22,776
  24,805
  26,918
  29,116
  31,402
  33,777
  36,246
  38,811
  41,478
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
  602
  554
  763
  1,031
  1,367
  1,778
  2,272
  2,853
  3,528
  4,298
  5,165
  6,088
  7,151
  8,311
  9,565
  10,912
  12,349
  13,875
  15,488
  17,185
  18,966
  20,829
  22,776
  24,805
  26,918
  29,116
  31,402
  33,777
  36,246
  38,811
  41,478
Operating income, $m
  -23
  55
  94
  145
  208
  286
  379
  489
  617
  762
  926
  1,151
  1,352
  1,571
  1,808
  2,063
  2,335
  2,623
  2,928
  3,249
  3,586
  3,938
  4,306
  4,690
  5,089
  5,505
  5,937
  6,386
  6,853
  7,338
  7,842
EBITDA, $m
  41
  115
  161
  221
  297
  389
  499
  629
  780
  953
  1,147
  1,363
  1,601
  1,861
  2,141
  2,443
  2,765
  3,106
  3,467
  3,847
  4,246
  4,663
  5,099
  5,553
  6,026
  6,519
  7,030
  7,562
  8,115
  8,689
  9,286
Interest expense (income), $m
  8
  5
  12
  21
  32
  46
  64
  85
  110
  138
  171
  208
  249
  294
  343
  397
  454
  515
  580
  648
  721
  796
  876
  958
  1,045
  1,134
  1,228
  1,325
  1,426
  1,531
  1,640
Earnings before tax, $m
  -40
  50
  82
  124
  176
  240
  316
  405
  507
  624
  755
  943
  1,103
  1,277
  1,465
  1,666
  1,881
  2,108
  2,348
  2,600
  2,865
  3,142
  3,430
  3,731
  4,045
  4,370
  4,709
  5,061
  5,427
  5,807
  6,202
Tax expense, $m
  16
  13
  22
  34
  48
  65
  85
  109
  137
  169
  204
  255
  298
  345
  396
  450
  508
  569
  634
  702
  774
  848
  926
  1,007
  1,092
  1,180
  1,271
  1,366
  1,465
  1,568
  1,674
Net income, $m
  -56
  36
  60
  91
  129
  175
  230
  295
  370
  456
  552
  689
  805
  932
  1,069
  1,216
  1,373
  1,539
  1,714
  1,898
  2,091
  2,293
  2,504
  2,724
  2,953
  3,190
  3,438
  3,694
  3,961
  4,239
  4,527

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  53
  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
  872
  1,192
  1,678
  2,301
  3,082
  4,039
  5,188
  6,542
  8,111
  9,903
  11,921
  14,167
  16,640
  19,338
  22,257
  25,391
  28,736
  32,287
  36,039
  39,988
  44,132
  48,469
  52,997
  57,719
  62,636
  67,751
  73,070
  78,598
  84,342
  90,311
  96,516
Adjusted assets (=assets-cash), $m
  819
  1,192
  1,678
  2,301
  3,082
  4,039
  5,188
  6,542
  8,111
  9,903
  11,921
  14,167
  16,640
  19,338
  22,257
  25,391
  28,736
  32,287
  36,039
  39,988
  44,132
  48,469
  52,997
  57,719
  62,636
  67,751
  73,070
  78,598
  84,342
  90,311
  96,516
Revenue / Adjusted assets
  0.706
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
  0.511
Average production assets, $m
  323
  300
  422
  579
  775
  1,015
  1,304
  1,645
  2,039
  2,490
  2,997
  3,562
  4,184
  4,862
  5,596
  6,384
  7,225
  8,117
  9,061
  10,053
  11,095
  12,186
  13,324
  14,511
  15,747
  17,034
  18,371
  19,760
  21,205
  22,705
  24,265
Working capital, $m
  -43
  -76
  -106
  -146
  -195
  -256
  -329
  -415
  -514
  -627
  -755
  -898
  -1,054
  -1,225
  -1,410
  -1,609
  -1,821
  -2,046
  -2,284
  -2,534
  -2,796
  -3,071
  -3,358
  -3,657
  -3,969
  -4,293
  -4,630
  -4,980
  -5,344
  -5,722
  -6,116
Total debt, $m
  191
  338
  592
  917
  1,325
  1,824
  2,424
  3,131
  3,950
  4,885
  5,939
  7,111
  8,402
  9,811
  11,334
  12,970
  14,716
  16,570
  18,528
  20,590
  22,753
  25,017
  27,381
  29,845
  32,412
  35,082
  37,858
  40,744
  43,743
  46,859
  50,097
Total liabilities, $m
  459
  622
  876
  1,201
  1,609
  2,108
  2,708
  3,415
  4,234
  5,169
  6,223
  7,395
  8,686
  10,095
  11,618
  13,254
  15,000
  16,854
  18,812
  20,874
  23,037
  25,301
  27,665
  30,129
  32,696
  35,366
  38,142
  41,028
  44,027
  47,143
  50,381
Total equity, $m
  414
  570
  802
  1,100
  1,473
  1,931
  2,480
  3,127
  3,877
  4,733
  5,698
  6,772
  7,954
  9,244
  10,639
  12,137
  13,736
  15,433
  17,226
  19,114
  21,095
  23,168
  25,333
  27,590
  29,940
  32,385
  34,927
  37,570
  40,315
  43,169
  46,135
Total liabilities and equity, $m
  873
  1,192
  1,678
  2,301
  3,082
  4,039
  5,188
  6,542
  8,111
  9,902
  11,921
  14,167
  16,640
  19,339
  22,257
  25,391
  28,736
  32,287
  36,038
  39,988
  44,132
  48,469
  52,998
  57,719
  62,636
  67,751
  73,069
  78,598
  84,342
  90,312
  96,516
Debt-to-equity ratio
  0.461
  0.590
  0.740
  0.830
  0.900
  0.940
  0.980
  1.000
  1.020
  1.030
  1.040
  1.050
  1.060
  1.060
  1.070
  1.070
  1.070
  1.070
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.080
  1.090
  1.090
  1.090
Adjusted equity ratio
  0.441
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -56
  36
  60
  91
  129
  175
  230
  295
  370
  456
  552
  689
  805
  932
  1,069
  1,216
  1,373
  1,539
  1,714
  1,898
  2,091
  2,293
  2,504
  2,724
  2,953
  3,190
  3,438
  3,694
  3,961
  4,239
  4,527
Depreciation, amort., depletion, $m
  64
  60
  67
  77
  88
  103
  120
  140
  163
  190
  220
  212
  249
  289
  333
  380
  430
  483
  539
  598
  660
  725
  793
  864
  937
  1,014
  1,093
  1,176
  1,262
  1,352
  1,444
Funds from operations, $m
  98
  96
  127
  167
  217
  278
  350
  435
  534
  646
  772
  901
  1,054
  1,222
  1,402
  1,596
  1,803
  2,022
  2,253
  2,497
  2,752
  3,019
  3,297
  3,588
  3,890
  4,204
  4,531
  4,871
  5,224
  5,590
  5,972
Change in working capital, $m
  21
  -23
  -31
  -40
  -49
  -61
  -73
  -86
  -99
  -114
  -128
  -142
  -157
  -171
  -185
  -199
  -212
  -225
  -238
  -250
  -263
  -275
  -287
  -299
  -312
  -324
  -337
  -350
  -364
  -378
  -393
Cash from operations, $m
  77
  245
  158
  207
  266
  338
  423
  521
  633
  760
  900
  1,043
  1,211
  1,393
  1,587
  1,795
  2,015
  2,247
  2,491
  2,747
  3,014
  3,294
  3,584
  3,887
  4,201
  4,528
  4,868
  5,221
  5,588
  5,969
  6,365
Maintenance CAPEX, $m
  0
  -12
  -18
  -25
  -34
  -46
  -60
  -78
  -98
  -121
  -148
  -178
  -212
  -249
  -289
  -333
  -380
  -430
  -483
  -539
  -598
  -660
  -725
  -793
  -864
  -937
  -1,014
  -1,093
  -1,176
  -1,262
  -1,352
New CAPEX, $m
  -23
  -93
  -122
  -157
  -196
  -241
  -289
  -340
  -395
  -450
  -507
  -565
  -622
  -678
  -734
  -788
  -841
  -893
  -943
  -993
  -1,042
  -1,090
  -1,139
  -1,187
  -1,236
  -1,286
  -1,337
  -1,390
  -1,444
  -1,501
  -1,560
Cash from investing activities, $m
  -58
  -105
  -140
  -182
  -230
  -287
  -349
  -418
  -493
  -571
  -655
  -743
  -834
  -927
  -1,023
  -1,121
  -1,221
  -1,323
  -1,426
  -1,532
  -1,640
  -1,750
  -1,864
  -1,980
  -2,100
  -2,223
  -2,351
  -2,483
  -2,620
  -2,763
  -2,912
Free cash flow, $m
  19
  139
  18
  25
  36
  51
  74
  103
  141
  188
  244
  300
  377
  465
  564
  674
  794
  924
  1,065
  1,215
  1,374
  1,543
  1,720
  1,907
  2,101
  2,305
  2,517
  2,738
  2,967
  3,206
  3,453
Issuance/(repayment) of debt, $m
  -8
  192
  253
  325
  408
  500
  600
  707
  819
  935
  1,054
  1,173
  1,291
  1,408
  1,523
  1,636
  1,746
  1,853
  1,959
  2,062
  2,163
  2,264
  2,364
  2,465
  2,567
  2,670
  2,776
  2,885
  2,999
  3,116
  3,239
Issuance/(repurchase) of shares, $m
  -7
  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 from financing (excl. dividends), $m  
  -18
  192
  253
  325
  408
  500
  600
  707
  819
  935
  1,054
  1,173
  1,291
  1,408
  1,523
  1,636
  1,746
  1,853
  1,959
  2,062
  2,163
  2,264
  2,364
  2,465
  2,567
  2,670
  2,776
  2,885
  2,999
  3,116
  3,239
Total cash flow (excl. dividends), $m
  1
  332
  272
  350
  443
  551
  673
  810
  960
  1,123
  1,298
  1,472
  1,668
  1,874
  2,088
  2,310
  2,540
  2,778
  3,023
  3,276
  3,537
  3,807
  4,084
  4,371
  4,668
  4,975
  5,293
  5,623
  5,966
  6,322
  6,692
Retained Cash Flow (-), $m
  26
  -176
  -232
  -298
  -373
  -457
  -549
  -647
  -750
  -856
  -965
  -1,074
  -1,182
  -1,290
  -1,395
  -1,498
  -1,599
  -1,697
  -1,793
  -1,888
  -1,981
  -2,073
  -2,165
  -2,257
  -2,350
  -2,445
  -2,542
  -2,642
  -2,746
  -2,853
  -2,966
Prev. year cash balance distribution, $m
 
  46
  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
 
  202
  40
  52
  70
  94
  124
  163
  210
  267
  333
  399
  486
  584
  693
  812
  941
  1,081
  1,230
  1,389
  1,557
  1,734
  1,920
  2,114
  2,318
  2,530
  2,751
  2,981
  3,220
  3,468
  3,726
Discount rate, %
 
  5.30
  5.57
  5.84
  6.14
  6.44
  6.76
  7.10
  7.46
  7.83
  8.22
  8.63
  9.06
  9.52
  9.99
  10.49
  11.02
  11.57
  12.15
  12.76
  13.39
  14.06
  14.77
  15.50
  16.28
  17.09
  17.95
  18.85
  19.79
  20.78
  21.82
PV of cash for distribution, $m
 
  192
  35
  44
  55
  68
  84
  101
  118
  135
  151
  160
  172
  179
  183
  182
  177
  168
  156
  142
  126
  109
  93
  77
  62
  49
  38
  28
  21
  15
  10
Current shareholders' claim on cash, %
  100
  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
  100.0

Envestnet, Inc., together with its subsidiaries, provides financial and wealth management technology and services to financial advisors, investors, and financial service providers in the United States and internationally. It operates through Envestnet and Envestnet | Yodlee business segments. The company’s product and services suites include Envestnet | Advisor Suite, which enables advisors to manage their practice and advise clients; Envestnet | PMC (Portfolio Management Consultants), which engages in research and consulting services to provides support for financial advisors to address clients’ needs, as well as to create investment solutions and products; and Envestnet | Tamarac that provides a portfolio of accounting, rebalancing, trading, performance reporting, and client relationship management software, primarily to high-end RIAs. Its product and services suites also include Envestnet | Retirement Solutions (ERS), which offers a suite of services for retirement plan professionals; Envestnet | Vantage, which provides enterprise data solutions for financial institutions, aggregates and manages investment data, and provides multi-custodial consolidated performance reporting and benchmarking; Envestnet | Finance Logix, which provides financial planning and wealth management software solutions to banks, broker-dealers, and RIAs; and Envestnet | Advisor Now, which provides private-labeled investor-facing technology that enables advisors and institutions to deliver a complete digital wealth management solutions to their clients. In addition, the company provides Envestnet | Yodlee data aggregation and data analytics platform, which offers cloud-based innovation for digital financial services for customers, including financial institutions, Internet services companies, and third-party developers of financial applications. Envestnet, Inc. was founded in 1999 and is headquartered in Chicago, Illinois.

FINANCIAL RATIOS  of  Envestnet (ENV)

Valuation Ratios
P/E Ratio -29.7
Price to Sales 2.9
Price to Book 4
Price to Tangible Book
Price to Cash Flow 21.6
Price to Free Cash Flow 30.8
Growth Rates
Sales Growth Rate 37.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 53.3%
Cap. Spend. - 3 Yr. Gr. Rate 20.6%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 37%
Total Debt to Equity 46.1%
Interest Coverage -4
Management Effectiveness
Return On Assets -5.1%
Ret/ On Assets - 3 Yr. Avg. -0%
Return On Total Capital -9.4%
Ret/ On T. Cap. - 3 Yr. Avg. -1%
Return On Equity -13.1%
Return On Equity - 3 Yr. Avg. -1.3%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 68.9%
Gross Margin - 3 Yr. Avg. 62.5%
EBITDA Margin 5.5%
EBITDA Margin - 3 Yr. Avg. 9.1%
Operating Margin -4.2%
Oper. Margin - 3 Yr. Avg. 2.1%
Pre-Tax Margin -6.9%
Pre-Tax Margin - 3 Yr. Avg. 0.6%
Net Profit Margin -9.7%
Net Profit Margin - 3 Yr. Avg. -1.6%
Effective Tax Rate -40%
Eff/ Tax Rate - 3 Yr. Avg. 18.2%
Payout Ratio 0%

ENV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ENV stock intrinsic value calculation we used $421 million for the last fiscal year's total revenue generated by Envestnet. The default revenue input number comes from 2016 income statement of Envestnet. 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 ENV stock valuation model: a) initial revenue growth rate of 44.7% 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 5.3%, whose default value for ENV is calculated based on our internal credit rating of Envestnet, 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 Envestnet.
    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 ENV stock the variable cost ratio is equal to 94.1%.

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 ENV 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 Envestnet.

Corporate tax rate of 27% is the nominal tax rate for Envestnet. 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 ENV 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 ENV are equal to 49.2%.

Life of production assets of 16.8 years is the average useful life of capital assets used in Envestnet 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 ENV is equal to -12.4%. 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 - $440 million for Envestnet - 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 42.607 million for Envestnet 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 Envestnet at the current share price and the inputted number of shares is $1.6 billion.


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COMPANY NEWS

▶ 3 Tech Stocks That Rallied in Friday's Rout   [Jun-12-17 12:06PM  Investopedia]
▶ Just How Much Fee Compression Is There?   [Jun-02-17 04:39PM  Barrons.com]
▶ Envestnet to Attend Spring Conferences   [May-30-17 04:05PM  Business Wire]
▶ ETFs with exposure to Envestnet, Inc. : May 16, 2017   [May-16-17 12:51PM  Capital Cube]
▶ Envestnet Climbs Further on Strong Organic Growth   [May-10-17 10:13PM  Motley Fool]
▶ Envestnet reports 1Q loss   [05:16PM  Associated Press]
▶ Envestnet, Inc. Value Analysis (NYSE:ENV) : May 2, 2017   [May-02-17 05:14PM  Capital Cube]
▶ [$$] Quovo Rides Robo-Advisor Trend   [07:00AM  The Wall Street Journal]
▶ 3 Growth Stocks to Buy in April   [Apr-19-17 08:47AM  Motley Fool]
▶ ETFs with exposure to Envestnet, Inc. : April 5, 2017   [Apr-05-17 04:42PM  Capital Cube]
▶ The Bull Market Keeps Rewarding Envestnet   [Mar-28-17 08:08AM  Motley Fool]
▶ Envestnet reports 4Q loss   [04:51PM  Associated Press]
▶ Envestnet Wins Three 2017 Family Wealth Report Awards   [Mar-15-17 04:15PM  PR Newswire]
▶ Envestnet to Attend Upcoming Conferences   [Feb-14-17 04:05PM  Business Wire]
▶ 2 Top Small-Cap Stocks to Buy in 2017   [Jan-26-17 01:14PM  at Motley Fool]
▶ Envestnet to Present at the 19th Annual ICR Conference   [Dec-29-16 08:30AM  Business Wire]
▶ How Envestnet Inc (ENV) Stacks Up Against Its Peers   [Dec-15-16 08:32PM  at Insider Monkey]
Stock chart of ENV Financial statements of ENV Annual reports of ENV
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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