Intrinsic value of Envestnet - ENV

Previous Close

$43.55

  Intrinsic Value

$22.11

stock screener

  Rating & Target

sell

-49%

  Value-price divergence*

+90%

Previous close

$43.55

 
Intrinsic value

$22.11

 
Up/down potential

-49%

 
Rating

sell

 
Value-price divergence*

+90%

*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 1.9

 

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
  19.70
  18.23
  16.91
  15.72
  14.64
  13.68
  12.81
  12.03
  11.33
  10.70
  10.13
  9.61
  9.15
  8.74
  8.36
  8.03
  7.72
  7.45
  7.21
  6.99
  6.79
  6.61
  6.45
  6.30
  6.17
  6.06
  5.95
  5.85
  5.77
  5.69
Revenue, $m
  578
  692
  818
  956
  1,107
  1,269
  1,442
  1,627
  1,823
  2,029
  2,246
  2,474
  2,711
  2,960
  3,218
  3,487
  3,767
  4,058
  4,361
  4,675
  5,001
  5,341
  5,694
  6,061
  6,443
  6,841
  7,255
  7,686
  8,136
  8,606
  9,096
Variable operating expenses, $m
 
  652
  763
  885
  1,017
  1,160
  1,313
  1,475
  1,648
  1,829
  2,020
  2,177
  2,387
  2,605
  2,833
  3,070
  3,316
  3,572
  3,838
  4,115
  4,403
  4,701
  5,012
  5,335
  5,671
  6,021
  6,386
  6,766
  7,162
  7,575
  8,007
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
  652
  763
  885
  1,017
  1,160
  1,313
  1,475
  1,648
  1,829
  2,020
  2,177
  2,387
  2,605
  2,833
  3,070
  3,316
  3,572
  3,838
  4,115
  4,403
  4,701
  5,012
  5,335
  5,671
  6,021
  6,386
  6,766
  7,162
  7,575
  8,007
Operating income, $m
  -23
  40
  55
  71
  89
  109
  129
  152
  175
  200
  226
  296
  325
  354
  385
  418
  451
  486
  522
  560
  599
  640
  682
  726
  771
  819
  869
  920
  974
  1,030
  1,089
EBITDA, $m
  41
  116
  137
  160
  185
  212
  241
  272
  305
  340
  376
  414
  454
  496
  539
  584
  631
  679
  730
  783
  837
  894
  953
  1,015
  1,079
  1,145
  1,215
  1,287
  1,362
  1,441
  1,523
Interest expense (income), $m
  8
  7
  11
  15
  20
  25
  31
  37
  43
  50
  57
  64
  72
  80
  89
  97
  107
  116
  126
  136
  147
  158
  170
  182
  194
  207
  221
  235
  250
  265
  281
Earnings before tax, $m
  -40
  32
  44
  56
  69
  83
  99
  115
  132
  150
  169
  232
  253
  274
  297
  320
  345
  370
  396
  423
  452
  481
  512
  544
  577
  612
  648
  685
  724
  765
  808
Tax expense, $m
  16
  9
  12
  15
  19
  23
  27
  31
  36
  41
  46
  63
  68
  74
  80
  86
  93
  100
  107
  114
  122
  130
  138
  147
  156
  165
  175
  185
  196
  207
  218
Net income, $m
  -56
  24
  32
  41
  51
  61
  72
  84
  96
  110
  123
  169
  184
  200
  217
  234
  252
  270
  289
  309
  330
  351
  374
  397
  421
  446
  473
  500
  529
  559
  590

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
  980
  1,159
  1,355
  1,567
  1,797
  2,043
  2,304
  2,582
  2,874
  3,182
  3,504
  3,841
  4,192
  4,558
  4,939
  5,336
  5,748
  6,176
  6,622
  7,084
  7,565
  8,065
  8,585
  9,126
  9,689
  10,276
  10,887
  11,525
  12,190
  12,884
Adjusted assets (=assets-cash), $m
  819
  980
  1,159
  1,355
  1,567
  1,797
  2,043
  2,304
  2,582
  2,874
  3,182
  3,504
  3,841
  4,192
  4,558
  4,939
  5,336
  5,748
  6,176
  6,622
  7,084
  7,565
  8,065
  8,585
  9,126
  9,689
  10,276
  10,887
  11,525
  12,190
  12,884
Revenue / Adjusted assets
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
Average production assets, $m
  323
  386
  456
  534
  617
  708
  805
  908
  1,017
  1,132
  1,253
  1,380
  1,513
  1,651
  1,796
  1,946
  2,102
  2,264
  2,433
  2,609
  2,791
  2,980
  3,177
  3,382
  3,595
  3,817
  4,048
  4,289
  4,540
  4,802
  5,075
Working capital, $m
  -43
  -69
  -82
  -96
  -111
  -127
  -144
  -163
  -182
  -203
  -225
  -247
  -271
  -296
  -322
  -349
  -377
  -406
  -436
  -467
  -500
  -534
  -569
  -606
  -644
  -684
  -725
  -769
  -814
  -861
  -910
Total debt, $m
  191
  236
  327
  428
  537
  655
  781
  915
  1,057
  1,207
  1,365
  1,530
  1,703
  1,884
  2,071
  2,267
  2,470
  2,682
  2,902
  3,130
  3,367
  3,614
  3,870
  4,137
  4,415
  4,704
  5,005
  5,318
  5,645
  5,986
  6,342
Total liabilities, $m
  459
  503
  594
  695
  804
  922
  1,048
  1,182
  1,324
  1,474
  1,632
  1,797
  1,970
  2,151
  2,338
  2,534
  2,737
  2,949
  3,169
  3,397
  3,634
  3,881
  4,137
  4,404
  4,682
  4,971
  5,272
  5,585
  5,912
  6,253
  6,609
Total equity, $m
  414
  477
  564
  660
  763
  875
  995
  1,122
  1,257
  1,400
  1,549
  1,706
  1,870
  2,042
  2,220
  2,406
  2,599
  2,799
  3,008
  3,225
  3,450
  3,684
  3,928
  4,181
  4,444
  4,719
  5,004
  5,302
  5,613
  5,936
  6,274
Total liabilities and equity, $m
  873
  980
  1,158
  1,355
  1,567
  1,797
  2,043
  2,304
  2,581
  2,874
  3,181
  3,503
  3,840
  4,193
  4,558
  4,940
  5,336
  5,748
  6,177
  6,622
  7,084
  7,565
  8,065
  8,585
  9,126
  9,690
  10,276
  10,887
  11,525
  12,189
  12,883
Debt-to-equity ratio
  0.461
  0.490
  0.580
  0.650
  0.700
  0.750
  0.780
  0.820
  0.840
  0.860
  0.880
  0.900
  0.910
  0.920
  0.930
  0.940
  0.950
  0.960
  0.960
  0.970
  0.980
  0.980
  0.990
  0.990
  0.990
  1.000
  1.000
  1.000
  1.010
  1.010
  1.010
Adjusted equity ratio
  0.441
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -56
  24
  32
  41
  51
  61
  72
  84
  96
  110
  123
  169
  184
  200
  217
  234
  252
  270
  289
  309
  330
  351
  374
  397
  421
  446
  473
  500
  529
  559
  590
Depreciation, amort., depletion, $m
  64
  76
  82
  89
  96
  104
  112
  121
  130
  140
  150
  118
  129
  141
  153
  166
  180
  194
  208
  223
  239
  255
  272
  289
  307
  326
  346
  367
  388
  410
  434
Funds from operations, $m
  98
  100
  114
  130
  146
  165
  184
  205
  227
  250
  274
  287
  314
  341
  370
  400
  431
  464
  497
  532
  568
  606
  645
  686
  729
  773
  819
  867
  917
  969
  1,023
Change in working capital, $m
  21
  -11
  -13
  -14
  -15
  -16
  -17
  -18
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -49
Cash from operations, $m
  77
  111
  127
  143
  162
  181
  201
  223
  246
  270
  295
  310
  338
  366
  396
  427
  459
  493
  527
  563
  601
  640
  681
  723
  767
  812
  860
  910
  962
  1,016
  1,072
Maintenance CAPEX, $m
  0
  -28
  -33
  -39
  -46
  -53
  -61
  -69
  -78
  -87
  -97
  -107
  -118
  -129
  -141
  -153
  -166
  -180
  -194
  -208
  -223
  -239
  -255
  -272
  -289
  -307
  -326
  -346
  -367
  -388
  -410
New CAPEX, $m
  -23
  -64
  -70
  -77
  -84
  -90
  -97
  -103
  -109
  -115
  -121
  -127
  -133
  -138
  -144
  -150
  -156
  -162
  -169
  -175
  -182
  -189
  -197
  -205
  -213
  -222
  -231
  -241
  -251
  -262
  -273
Cash from investing activities, $m
  -58
  -92
  -103
  -116
  -130
  -143
  -158
  -172
  -187
  -202
  -218
  -234
  -251
  -267
  -285
  -303
  -322
  -342
  -363
  -383
  -405
  -428
  -452
  -477
  -502
  -529
  -557
  -587
  -618
  -650
  -683
Free cash flow, $m
  19
  20
  23
  27
  32
  38
  44
  51
  59
  68
  78
  76
  87
  98
  111
  123
  137
  151
  165
  180
  196
  212
  229
  246
  264
  283
  303
  323
  344
  366
  389
Issuance/(repayment) of debt, $m
  -8
  83
  92
  100
  109
  118
  126
  134
  142
  150
  158
  165
  173
  180
  188
  196
  203
  211
  220
  228
  237
  247
  256
  267
  278
  289
  301
  314
  327
  341
  356
Issuance/(repurchase) of shares, $m
  -7
  55
  55
  55
  53
  51
  48
  44
  39
  33
  26
  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
  138
  147
  155
  162
  169
  174
  178
  181
  183
  184
  165
  173
  180
  188
  196
  203
  211
  220
  228
  237
  247
  256
  267
  278
  289
  301
  314
  327
  341
  356
Total cash flow (excl. dividends), $m
  1
  157
  170
  182
  194
  206
  218
  229
  240
  251
  262
  241
  260
  279
  298
  319
  340
  362
  385
  408
  433
  459
  485
  513
  542
  572
  604
  637
  671
  707
  745
Retained Cash Flow (-), $m
  26
  -78
  -87
  -95
  -104
  -112
  -120
  -127
  -135
  -142
  -150
  -157
  -164
  -171
  -178
  -186
  -193
  -201
  -209
  -217
  -225
  -234
  -243
  -253
  -264
  -274
  -286
  -298
  -310
  -324
  -338
Prev. year cash balance distribution, $m
 
  15
  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
 
  94
  83
  87
  91
  94
  98
  102
  105
  109
  112
  84
  96
  108
  120
  133
  147
  161
  176
  192
  208
  225
  242
  260
  279
  298
  318
  339
  361
  383
  407
Discount rate, %
 
  5.00
  5.25
  5.51
  5.79
  6.08
  6.38
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
PV of cash for distribution, $m
 
  90
  75
  74
  72
  70
  68
  65
  61
  57
  53
  36
  36
  35
  34
  32
  30
  28
  25
  22
  19
  16
  14
  11
  9
  7
  5
  4
  3
  2
  1
Current shareholders' claim on cash, %
  100
  97.0
  94.6
  92.6
  91.0
  89.6
  88.6
  87.7
  87.0
  86.5
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2
  86.2

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 -33.6
Price to Sales 3.3
Price to Book 4.5
Price to Tangible Book
Price to Cash Flow 24.5
Price to Free Cash Flow 34.9
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 $578 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 19.7% 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%, 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 95.5%.

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 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 4.7% 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 55.8%.

Life of production assets of 11.7 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 -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 - $414 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 $1.9 billion.

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SEIC SEI Investment 55.70 33.24  sell
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COMPANY NEWS

▶ LPL Financial Rides Higher on New Acquisition   [Aug-16-17 09:28AM  Barrons.com]
▶ Improving Future Prospects Please Envestnet Shareholders   [Aug-09-17 11:30AM  Motley Fool]
▶ Envestnet reports 2Q loss   [Aug-08-17 11:05PM  Associated Press]
▶ Envestnet to Attend Upcoming Conferences   [Jul-31-17 04:40PM  Business Wire]
▶ Envestnet Rising: 4 New Data Points Support Bullish View   [Jun-28-17 10:46AM  Barrons.com]
▶ 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]
Stock chart of ENV Financial statements 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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