Intrinsic value of Eversource Energy - ES

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$59.40

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$59.40

 
Intrinsic value

$52.16

 
Up/down potential

-12%

 
Rating

hold

 
Value-price divergence* premium content

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

We calculate the intrinsic value of ES 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 18.9

 

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, %
  -3.97
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.00
Revenue, $m
  7,639
  8,029
  8,437
  8,866
  9,316
  9,788
  10,283
  10,802
  11,348
  11,920
  12,521
  13,151
  13,813
  14,507
  15,236
  16,001
  16,805
  17,648
  18,534
  19,463
  20,439
  21,463
  22,539
  23,668
  24,853
  26,098
  27,405
  28,777
  30,217
  31,730
  33,318
Variable operating expenses, $m
 
  6,228
  6,527
  6,841
  7,170
  7,516
  7,878
  8,259
  8,658
  9,076
  9,516
  9,626
  10,110
  10,618
  11,152
  11,712
  12,300
  12,917
  13,565
  14,246
  14,960
  15,710
  16,497
  17,323
  18,191
  19,102
  20,058
  21,063
  22,117
  23,224
  24,386
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
  5,779
  6,228
  6,527
  6,841
  7,170
  7,516
  7,878
  8,259
  8,658
  9,076
  9,516
  9,626
  10,110
  10,618
  11,152
  11,712
  12,300
  12,917
  13,565
  14,246
  14,960
  15,710
  16,497
  17,323
  18,191
  19,102
  20,058
  21,063
  22,117
  23,224
  24,386
Operating income, $m
  1,860
  1,800
  1,910
  2,025
  2,145
  2,272
  2,405
  2,544
  2,690
  2,843
  3,004
  3,525
  3,703
  3,889
  4,084
  4,289
  4,505
  4,731
  4,968
  5,217
  5,479
  5,754
  6,042
  6,345
  6,662
  6,996
  7,346
  7,714
  8,100
  8,506
  8,931
EBITDA, $m
  2,575
  2,323
  2,441
  2,565
  2,695
  2,832
  2,975
  3,125
  3,283
  3,449
  3,622
  3,805
  3,996
  4,197
  4,408
  4,629
  4,862
  5,106
  5,362
  5,631
  5,913
  6,210
  6,521
  6,847
  7,190
  7,551
  7,929
  8,326
  8,742
  9,180
  9,639
Interest expense (income), $m
  0
  375
  412
  452
  493
  537
  582
  630
  680
  733
  789
  847
  908
  972
  1,039
  1,110
  1,184
  1,262
  1,343
  1,429
  1,519
  1,613
  1,712
  1,817
  1,926
  2,041
  2,161
  2,288
  2,420
  2,560
  2,706
Earnings before tax, $m
  1,505
  1,425
  1,498
  1,573
  1,652
  1,735
  1,822
  1,914
  2,010
  2,110
  2,216
  2,679
  2,795
  2,917
  3,045
  3,180
  3,321
  3,469
  3,625
  3,789
  3,960
  4,140
  4,329
  4,528
  4,737
  4,955
  5,185
  5,427
  5,680
  5,946
  6,225
Tax expense, $m
  555
  385
  404
  425
  446
  469
  492
  517
  543
  570
  598
  723
  755
  788
  822
  859
  897
  937
  979
  1,023
  1,069
  1,118
  1,169
  1,223
  1,279
  1,338
  1,400
  1,465
  1,534
  1,605
  1,681
Net income, $m
  942
  1,040
  1,093
  1,148
  1,206
  1,267
  1,330
  1,397
  1,467
  1,540
  1,618
  1,955
  2,040
  2,129
  2,223
  2,321
  2,424
  2,533
  2,646
  2,766
  2,891
  3,022
  3,160
  3,305
  3,458
  3,617
  3,785
  3,961
  4,146
  4,340
  4,544

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  30
  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
  32,053
  33,592
  35,302
  37,096
  38,978
  40,952
  43,024
  45,198
  47,480
  49,874
  52,387
  55,025
  57,793
  60,699
  63,750
  66,952
  70,313
  73,842
  77,546
  81,435
  85,518
  89,804
  94,304
  99,029
  103,989
  109,197
  114,664
  120,405
  126,432
  132,760
  139,405
Adjusted assets (=assets-cash), $m
  32,023
  33,592
  35,302
  37,096
  38,978
  40,952
  43,024
  45,198
  47,480
  49,874
  52,387
  55,025
  57,793
  60,699
  63,750
  66,952
  70,313
  73,842
  77,546
  81,435
  85,518
  89,804
  94,304
  99,029
  103,989
  109,197
  114,664
  120,405
  126,432
  132,760
  139,405
Revenue / Adjusted assets
  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
  0.239
Average production assets, $m
  1,038
  1,092
  1,147
  1,206
  1,267
  1,331
  1,398
  1,469
  1,543
  1,621
  1,703
  1,789
  1,879
  1,973
  2,072
  2,176
  2,285
  2,400
  2,521
  2,647
  2,780
  2,919
  3,065
  3,219
  3,380
  3,549
  3,727
  3,914
  4,110
  4,315
  4,531
Working capital, $m
  -1,161
  771
  810
  851
  894
  940
  987
  1,037
  1,089
  1,144
  1,202
  1,262
  1,326
  1,393
  1,463
  1,536
  1,613
  1,694
  1,779
  1,868
  1,962
  2,060
  2,164
  2,272
  2,386
  2,505
  2,631
  2,763
  2,901
  3,046
  3,199
Total debt, $m
  10,752
  11,771
  12,901
  14,086
  15,330
  16,635
  18,005
  19,442
  20,950
  22,533
  24,194
  25,937
  27,767
  29,688
  31,705
  33,821
  36,043
  38,375
  40,824
  43,395
  46,093
  48,927
  51,901
  55,024
  58,303
  61,745
  65,359
  69,154
  73,138
  77,321
  81,712
Total liabilities, $m
  21,186
  22,205
  23,335
  24,520
  25,764
  27,069
  28,439
  29,876
  31,384
  32,967
  34,628
  36,371
  38,201
  40,122
  42,139
  44,255
  46,477
  48,809
  51,258
  53,829
  56,527
  59,361
  62,335
  65,458
  68,737
  72,179
  75,793
  79,588
  83,572
  87,755
  92,146
Total equity, $m
  10,867
  11,388
  11,967
  12,576
  13,213
  13,883
  14,585
  15,322
  16,096
  16,907
  17,759
  18,653
  19,592
  20,577
  21,611
  22,697
  23,836
  25,032
  26,288
  27,607
  28,991
  30,444
  31,969
  33,571
  35,252
  37,018
  38,871
  40,817
  42,861
  45,006
  47,258
Total liabilities and equity, $m
  32,053
  33,593
  35,302
  37,096
  38,977
  40,952
  43,024
  45,198
  47,480
  49,874
  52,387
  55,024
  57,793
  60,699
  63,750
  66,952
  70,313
  73,841
  77,546
  81,436
  85,518
  89,805
  94,304
  99,029
  103,989
  109,197
  114,664
  120,405
  126,433
  132,761
  139,404
Debt-to-equity ratio
  0.989
  1.030
  1.080
  1.120
  1.160
  1.200
  1.230
  1.270
  1.300
  1.330
  1.360
  1.390
  1.420
  1.440
  1.470
  1.490
  1.510
  1.530
  1.550
  1.570
  1.590
  1.610
  1.620
  1.640
  1.650
  1.670
  1.680
  1.690
  1.710
  1.720
  1.730
Adjusted equity ratio
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339
  0.339

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  942
  1,040
  1,093
  1,148
  1,206
  1,267
  1,330
  1,397
  1,467
  1,540
  1,618
  1,955
  2,040
  2,129
  2,223
  2,321
  2,424
  2,533
  2,646
  2,766
  2,891
  3,022
  3,160
  3,305
  3,458
  3,617
  3,785
  3,961
  4,146
  4,340
  4,544
Depreciation, amort., depletion, $m
  715
  523
  531
  540
  550
  560
  570
  581
  593
  605
  618
  279
  294
  308
  324
  340
  357
  375
  394
  414
  434
  456
  479
  503
  528
  555
  582
  612
  642
  674
  708
Funds from operations, $m
  2,270
  1,563
  1,625
  1,689
  1,756
  1,827
  1,901
  1,978
  2,060
  2,146
  2,235
  2,235
  2,334
  2,438
  2,547
  2,661
  2,781
  2,908
  3,040
  3,179
  3,325
  3,479
  3,639
  3,808
  3,986
  4,172
  4,368
  4,573
  4,788
  5,015
  5,252
Change in working capital, $m
  95
  37
  39
  41
  43
  45
  48
  50
  52
  55
  58
  61
  64
  67
  70
  73
  77
  81
  85
  89
  94
  98
  103
  108
  114
  119
  125
  132
  138
  145
  152
Cash from operations, $m
  2,175
  1,500
  1,585
  1,648
  1,713
  1,781
  1,853
  1,929
  2,008
  2,091
  2,178
  2,174
  2,270
  2,371
  2,477
  2,588
  2,704
  2,827
  2,955
  3,090
  3,232
  3,380
  3,536
  3,700
  3,872
  4,053
  4,242
  4,441
  4,650
  4,870
  5,100
Maintenance CAPEX, $m
  0
  -162
  -171
  -179
  -188
  -198
  -208
  -219
  -230
  -241
  -253
  -266
  -279
  -294
  -308
  -324
  -340
  -357
  -375
  -394
  -414
  -434
  -456
  -479
  -503
  -528
  -555
  -582
  -612
  -642
  -674
New CAPEX, $m
  -1,977
  -54
  -56
  -58
  -61
  -64
  -67
  -71
  -74
  -78
  -82
  -86
  -90
  -94
  -99
  -104
  -109
  -115
  -120
  -126
  -133
  -139
  -146
  -154
  -161
  -169
  -178
  -187
  -196
  -206
  -216
Cash from investing activities, $m
  -2,151
  -216
  -227
  -237
  -249
  -262
  -275
  -290
  -304
  -319
  -335
  -352
  -369
  -388
  -407
  -428
  -449
  -472
  -495
  -520
  -547
  -573
  -602
  -633
  -664
  -697
  -733
  -769
  -808
  -848
  -890
Free cash flow, $m
  24
  1,283
  1,359
  1,410
  1,463
  1,519
  1,578
  1,639
  1,704
  1,772
  1,843
  1,822
  1,901
  1,983
  2,069
  2,160
  2,255
  2,355
  2,460
  2,570
  2,685
  2,807
  2,934
  3,067
  3,208
  3,355
  3,510
  3,672
  3,843
  4,022
  4,210
Issuance/(repayment) of debt, $m
  588
  1,049
  1,130
  1,186
  1,244
  1,305
  1,369
  1,437
  1,508
  1,583
  1,661
  1,743
  1,830
  1,921
  2,016
  2,117
  2,222
  2,332
  2,449
  2,571
  2,699
  2,833
  2,975
  3,123
  3,279
  3,442
  3,614
  3,795
  3,984
  4,183
  4,392
Issuance/(repurchase) of shares, $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
  0
Cash from financing (excl. dividends), $m  
  554
  1,049
  1,130
  1,186
  1,244
  1,305
  1,369
  1,437
  1,508
  1,583
  1,661
  1,743
  1,830
  1,921
  2,016
  2,117
  2,222
  2,332
  2,449
  2,571
  2,699
  2,833
  2,975
  3,123
  3,279
  3,442
  3,614
  3,795
  3,984
  4,183
  4,392
Total cash flow (excl. dividends), $m
  578
  2,332
  2,489
  2,596
  2,707
  2,824
  2,947
  3,076
  3,212
  3,354
  3,504
  3,566
  3,731
  3,904
  4,086
  4,277
  4,477
  4,687
  4,908
  5,140
  5,384
  5,640
  5,908
  6,190
  6,487
  6,797
  7,124
  7,467
  7,827
  8,205
  8,602
Retained Cash Flow (-), $m
  -359
  -521
  -580
  -608
  -638
  -669
  -702
  -737
  -773
  -812
  -852
  -894
  -939
  -985
  -1,034
  -1,086
  -1,140
  -1,196
  -1,256
  -1,318
  -1,384
  -1,453
  -1,526
  -1,602
  -1,682
  -1,765
  -1,854
  -1,946
  -2,043
  -2,145
  -2,252
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
 
  1,811
  1,910
  1,988
  2,069
  2,155
  2,245
  2,339
  2,439
  2,543
  2,652
  2,672
  2,792
  2,919
  3,052
  3,191
  3,337
  3,491
  3,653
  3,822
  4,000
  4,187
  4,383
  4,589
  4,805
  5,032
  5,270
  5,521
  5,783
  6,059
  6,349
Discount rate, %
 
  8.00
  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
PV of cash for distribution, $m
 
  1,677
  1,625
  1,542
  1,452
  1,355
  1,253
  1,147
  1,039
  930
  823
  694
  599
  510
  427
  352
  285
  226
  176
  135
  101
  74
  52
  36
  25
  16
  10
  6
  4
  2
  1
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

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the generation, transmission, and distribution of electricity; and distribution of natural gas. The company serves residential, commercial, and industrial customers in Connecticut, Massachusetts, and New Hampshire, the United States. It provides energy delivery services to approximately 3.7 million electric and natural gas customers. The company was formerly known as Northeast Utilities and changed its name to Eversource Energy in April 2015. Eversource Energy was founded in 1927 and is based in Springfield, Massachusetts.

FINANCIAL RATIOS  of  Eversource Energy (ES)

Valuation Ratios
P/E Ratio 20
Price to Sales 2.5
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 8.7
Price to Free Cash Flow 95.1
Growth Rates
Sales Growth Rate -4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.7%
Cap. Spend. - 3 Yr. Gr. Rate 6.3%
Financial Strength
Quick Ratio 0
Current Ratio 0.3
LT Debt to Equity 81.2%
Total Debt to Equity 98.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 3%
Ret/ On Assets - 3 Yr. Avg. 2.9%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.3%
Return On Equity 8.8%
Return On Equity - 3 Yr. Avg. 8.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 29.1%
EBITDA Margin - 3 Yr. Avg. 26.7%
Operating Margin 24.3%
Oper. Margin - 3 Yr. Avg. 22.5%
Pre-Tax Margin 19.7%
Pre-Tax Margin - 3 Yr. Avg. 18.1%
Net Profit Margin 12.3%
Net Profit Margin - 3 Yr. Avg. 11.3%
Effective Tax Rate 36.9%
Eff/ Tax Rate - 3 Yr. Avg. 37%
Payout Ratio 60.7%

ES stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ES stock intrinsic value calculation we used $7639 million for the last fiscal year's total revenue generated by Eversource Energy. The default revenue input number comes from 2016 income statement of Eversource 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 ES stock valuation model: a) initial revenue growth rate of 5.1% 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%, whose default value for ES is calculated based on our internal credit rating of Eversource 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 Eversource 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 ES stock the variable cost ratio is equal to 77.8%.

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 ES 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 Eversource Energy.

Corporate tax rate of 27% is the nominal tax rate for Eversource 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 ES 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 ES are equal to 13.6%.

Life of production assets of 6.4 years is the average useful life of capital assets used in Eversource 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 ES is equal to 9.6%. 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 - $10867 million for Eversource 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 317.795 million for Eversource 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 Eversource Energy at the current share price and the inputted number of shares is $18.9 billion.


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COMPANY NEWS

▶ 5 Dividend Stocks to Buy in March   [Mar-05-17 08:21AM  Motley Fool]
▶ Eversource Energy Rose Due to Financial Results   [Feb-23-17 09:57AM  Market Realist]
▶ Eight Dividend Stocks Rewarding Shareholders With A Raise   [Feb-07-17 12:55PM  at Insider Monkey]
▶ Eversource Energy to Discuss Fourth Quarter Results   [Feb-06-17 10:00AM  GlobeNewswire]
▶ Eversource Energy Raises Common Dividend By 6.7%   [Feb-02-17 04:05PM  Business Wire]
▶ Billionaires Love These Utilities Stocks   [Dec-04-16 02:17PM  at Insider Monkey]
▶ Should You Buy Eversource Energy (ES)?   [05:28AM  at Insider Monkey]
▶ Is Hess Corp. (HES) A Good Stock To Buy?   [Nov-24-16 01:14PM  at Insider Monkey]
▶ Eversource to Webcast Discussion of Third Quarter Results   [Oct-24-16 12:00PM  GlobeNewswire]
▶ [$$] Customers Pull Contracts for Spectra Pipeline Effort   [Aug-23-16 09:00PM  at The Wall Street Journal]
Stock chart of ES Financial statements of ES
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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