Intrinsic value of Eaton Vance - EV

Previous Close

$42.83

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$42.83

 
Intrinsic value

$58.91

 
Up/down potential

+38%

 
Rating

buy

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying
Our model is not good at valuating stocks of financial companies, such as EV.

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

We calculate the intrinsic value of EV 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 4.9

 

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, %
  -4.34
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  1,343
  1,436
  1,532
  1,632
  1,736
  1,845
  1,958
  2,075
  2,198
  2,326
  2,459
  2,599
  2,744
  2,896
  3,055
  3,221
  3,394
  3,576
  3,766
  3,965
  4,174
  4,392
  4,621
  4,861
  5,112
  5,375
  5,651
  5,941
  6,244
  6,563
  6,897
Variable operating expenses, $m
 
  1,023
  1,090
  1,160
  1,233
  1,308
  1,387
  1,468
  1,554
  1,643
  1,735
  1,807
  1,909
  2,014
  2,125
  2,240
  2,361
  2,487
  2,620
  2,758
  2,903
  3,055
  3,214
  3,381
  3,555
  3,739
  3,931
  4,132
  4,343
  4,565
  4,797
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
  929
  1,023
  1,090
  1,160
  1,233
  1,308
  1,387
  1,468
  1,554
  1,643
  1,735
  1,807
  1,909
  2,014
  2,125
  2,240
  2,361
  2,487
  2,620
  2,758
  2,903
  3,055
  3,214
  3,381
  3,555
  3,739
  3,931
  4,132
  4,343
  4,565
  4,797
Operating income, $m
  414
  412
  442
  472
  504
  537
  571
  607
  644
  683
  724
  791
  835
  882
  930
  981
  1,033
  1,089
  1,147
  1,207
  1,271
  1,337
  1,407
  1,480
  1,556
  1,637
  1,721
  1,809
  1,901
  1,998
  2,100
EBITDA, $m
  435
  442
  472
  503
  535
  568
  603
  639
  677
  717
  758
  801
  845
  892
  941
  992
  1,046
  1,102
  1,160
  1,222
  1,286
  1,353
  1,424
  1,498
  1,575
  1,656
  1,741
  1,830
  1,924
  2,022
  2,125
Interest expense (income), $m
  28
  21
  23
  26
  29
  31
  34
  38
  41
  44
  48
  51
  55
  59
  63
  68
  72
  77
  82
  87
  93
  99
  105
  111
  117
  124
  132
  139
  147
  156
  164
Earnings before tax, $m
  408
  392
  418
  446
  475
  505
  537
  570
  604
  639
  676
  740
  780
  823
  867
  913
  961
  1,012
  1,065
  1,120
  1,178
  1,239
  1,302
  1,369
  1,439
  1,512
  1,589
  1,670
  1,754
  1,843
  1,936
Tax expense, $m
  154
  106
  113
  121
  128
  136
  145
  154
  163
  173
  183
  200
  211
  222
  234
  246
  260
  273
  287
  302
  318
  334
  352
  370
  389
  408
  429
  451
  474
  497
  523
Net income, $m
  241
  286
  305
  326
  347
  369
  392
  416
  441
  467
  494
  540
  570
  600
  633
  666
  702
  739
  777
  818
  860
  904
  951
  999
  1,050
  1,104
  1,160
  1,219
  1,280
  1,345
  1,413

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  424
  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
  1,730
  1,397
  1,490
  1,588
  1,689
  1,795
  1,904
  2,019
  2,138
  2,263
  2,392
  2,528
  2,669
  2,817
  2,972
  3,133
  3,302
  3,479
  3,664
  3,857
  4,060
  4,272
  4,495
  4,728
  4,973
  5,229
  5,497
  5,779
  6,074
  6,384
  6,709
Adjusted assets (=assets-cash), $m
  1,306
  1,397
  1,490
  1,588
  1,689
  1,795
  1,904
  2,019
  2,138
  2,263
  2,392
  2,528
  2,669
  2,817
  2,972
  3,133
  3,302
  3,479
  3,664
  3,857
  4,060
  4,272
  4,495
  4,728
  4,973
  5,229
  5,497
  5,779
  6,074
  6,384
  6,709
Revenue / Adjusted assets
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
  1.028
Average production assets, $m
  74
  79
  84
  90
  96
  101
  108
  114
  121
  128
  135
  143
  151
  159
  168
  177
  187
  197
  207
  218
  230
  242
  254
  267
  281
  296
  311
  327
  343
  361
  379
Working capital, $m
  0
  -454
  -484
  -516
  -549
  -583
  -619
  -656
  -695
  -735
  -777
  -821
  -867
  -915
  -965
  -1,018
  -1,073
  -1,130
  -1,190
  -1,253
  -1,319
  -1,388
  -1,460
  -1,536
  -1,615
  -1,699
  -1,786
  -1,877
  -1,973
  -2,074
  -2,179
Total debt, $m
  572
  644
  717
  794
  874
  957
  1,043
  1,133
  1,227
  1,324
  1,426
  1,533
  1,644
  1,760
  1,882
  2,009
  2,141
  2,280
  2,426
  2,578
  2,737
  2,904
  3,079
  3,262
  3,454
  3,656
  3,867
  4,088
  4,320
  4,564
  4,819
Total liabilities, $m
  1,027
  1,098
  1,171
  1,248
  1,328
  1,411
  1,497
  1,587
  1,681
  1,778
  1,880
  1,987
  2,098
  2,214
  2,336
  2,463
  2,595
  2,734
  2,880
  3,032
  3,191
  3,358
  3,533
  3,716
  3,908
  4,110
  4,321
  4,542
  4,774
  5,018
  5,273
Total equity, $m
  704
  299
  319
  340
  361
  384
  408
  432
  458
  484
  512
  541
  571
  603
  636
  670
  707
  744
  784
  825
  869
  914
  962
  1,012
  1,064
  1,119
  1,176
  1,237
  1,300
  1,366
  1,436
Total liabilities and equity, $m
  1,731
  1,397
  1,490
  1,588
  1,689
  1,795
  1,905
  2,019
  2,139
  2,262
  2,392
  2,528
  2,669
  2,817
  2,972
  3,133
  3,302
  3,478
  3,664
  3,857
  4,060
  4,272
  4,495
  4,728
  4,972
  5,229
  5,497
  5,779
  6,074
  6,384
  6,709
Debt-to-equity ratio
  0.813
  2.150
  2.250
  2.340
  2.420
  2.490
  2.560
  2.620
  2.680
  2.740
  2.790
  2.830
  2.880
  2.920
  2.960
  3.000
  3.030
  3.060
  3.090
  3.120
  3.150
  3.180
  3.200
  3.220
  3.250
  3.270
  3.290
  3.310
  3.320
  3.340
  3.360
Adjusted equity ratio
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  241
  286
  305
  326
  347
  369
  392
  416
  441
  467
  494
  540
  570
  600
  633
  666
  702
  739
  777
  818
  860
  904
  951
  999
  1,050
  1,104
  1,160
  1,219
  1,280
  1,345
  1,413
Depreciation, amort., depletion, $m
  21
  30
  30
  31
  31
  32
  32
  32
  33
  33
  34
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
Funds from operations, $m
  293
  316
  336
  357
  378
  400
  424
  448
  473
  500
  527
  550
  580
  611
  644
  678
  714
  752
  791
  832
  875
  920
  968
  1,017
  1,069
  1,123
  1,181
  1,240
  1,303
  1,369
  1,438
Change in working capital, $m
  -48
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -87
  -91
  -96
  -101
  -106
Cash from operations, $m
  341
  319
  366
  388
  411
  435
  460
  485
  512
  540
  570
  594
  626
  659
  694
  731
  769
  809
  851
  895
  941
  989
  1,040
  1,093
  1,148
  1,207
  1,268
  1,332
  1,399
  1,470
  1,544
Maintenance CAPEX, $m
  0
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
New CAPEX, $m
  -11
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -18
Cash from investing activities, $m
  -108
  -10
  -10
  -12
  -12
  -12
  -13
  -13
  -15
  -15
  -15
  -17
  -17
  -18
  -20
  -20
  -22
  -22
  -23
  -25
  -25
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -42
Free cash flow, $m
  233
  308
  356
  377
  399
  422
  447
  472
  498
  525
  554
  577
  608
  641
  675
  710
  748
  787
  827
  870
  915
  962
  1,011
  1,063
  1,117
  1,174
  1,233
  1,295
  1,361
  1,429
  1,501
Issuance/(repayment) of debt, $m
  0
  72
  74
  77
  80
  83
  86
  90
  94
  98
  102
  106
  111
  116
  121
  127
  133
  139
  145
  152
  159
  167
  175
  183
  192
  201
  211
  221
  232
  243
  255
Issuance/(repurchase) of shares, $m
  -142
  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  
  -151
  72
  74
  77
  80
  83
  86
  90
  94
  98
  102
  106
  111
  116
  121
  127
  133
  139
  145
  152
  159
  167
  175
  183
  192
  201
  211
  221
  232
  243
  255
Total cash flow (excl. dividends), $m
  78
  380
  429
  454
  479
  505
  533
  562
  592
  623
  656
  683
  719
  757
  796
  837
  880
  926
  973
  1,022
  1,074
  1,129
  1,186
  1,246
  1,309
  1,375
  1,444
  1,517
  1,593
  1,673
  1,757
Retained Cash Flow (-), $m
  -84
  -19
  -20
  -21
  -22
  -23
  -24
  -24
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -48
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -70
Prev. year cash balance distribution, $m
 
  424
  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
 
  785
  409
  433
  457
  483
  509
  537
  566
  596
  628
  654
  689
  725
  763
  803
  844
  888
  933
  981
  1,031
  1,084
  1,139
  1,196
  1,257
  1,320
  1,387
  1,456
  1,530
  1,607
  1,687
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  753
  375
  377
  377
  374
  370
  363
  354
  343
  329
  311
  294
  276
  256
  236
  215
  193
  172
  151
  131
  112
  94
  78
  64
  51
  40
  31
  24
  18
  13
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

Eaton Vance Corp., through its subsidiaries, engages in the creation, marketing, and management of investment funds in the United States. It also provides investment management and counseling services to institutions and individuals. Further, the company operates as an adviser and distributor of investment companies and separate accounts. As of October 31, 2004, the company provided investment advisory or administration services to approximately 150 funds; approximately 1,300 separately managed individual and institutional accounts; and participated in approximately 40 retail-managed account broker/dealer programs. It markets and distributes shares of funds through a retail network of national and regional broker/dealers, banks, insurance companies, and financial planning firms. Eaton Vance Corp. was founded in 1944 and is headquartered in Boston, Massachusetts.

FINANCIAL RATIOS  of  Eaton Vance (EV)

Valuation Ratios
P/E Ratio 20.3
Price to Sales 3.6
Price to Book 6.9
Price to Tangible Book
Price to Cash Flow 14.3
Price to Free Cash Flow 14.8
Growth Rates
Sales Growth Rate -4.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 9.5%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 81.3%
Total Debt to Equity 81.3%
Interest Coverage 16
Management Effectiveness
Return On Assets 13.4%
Ret/ On Assets - 3 Yr. Avg. 13.7%
Return On Total Capital 16.8%
Ret/ On T. Cap. - 3 Yr. Avg. 17.1%
Return On Equity 36.4%
Return On Equity - 3 Yr. Avg. 39.5%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 83.8%
Gross Margin - 3 Yr. Avg. 81.4%
EBITDA Margin 34%
EBITDA Margin - 3 Yr. Avg. 33.7%
Operating Margin 30.8%
Oper. Margin - 3 Yr. Avg. 31.7%
Pre-Tax Margin 30.4%
Pre-Tax Margin - 3 Yr. Avg. 30.2%
Net Profit Margin 17.9%
Net Profit Margin - 3 Yr. Avg. 18.4%
Effective Tax Rate 37.7%
Eff/ Tax Rate - 3 Yr. Avg. 38.2%
Payout Ratio 49.4%

EV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EV stock intrinsic value calculation we used $1343 million for the last fiscal year's total revenue generated by Eaton Vance. The default revenue input number comes from 2016 income statement of Eaton Vance. 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 EV stock valuation model: a) initial revenue growth rate of 6.9% 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 4.3%, whose default value for EV is calculated based on our internal credit rating of Eaton Vance, 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 Eaton Vance.
    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 EV stock the variable cost ratio is equal to 71.4%.

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 EV 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 3.6% for Eaton Vance.

Corporate tax rate of 27% is the nominal tax rate for Eaton Vance. 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 EV 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 EV are equal to 5.5%.

Life of production assets of 15.1 years is the average useful life of capital assets used in Eaton Vance 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 EV is equal to -31.6%. 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 - $704 million for Eaton Vance - 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 115.436 million for Eaton Vance 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 Eaton Vance at the current share price and the inputted number of shares is $4.9 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
GROW U.S. Global In 1.38 0.41  str.sell
BLK BlackRock 378.06 788.66  str.buy
LM Legg Mason 37.43 76.46  str.buy
BEN Franklin Resou 41.01 67.67  str.buy
WDR Waddell&Reed F 17.52 42.63  str.buy
DHIL Diamond Hill I 189.99 969.30  str.buy
APAM Artisan Partne 28.05 35.84  buy
TROW T. Rowe Price 71.79 93.02  buy

COMPANY NEWS

▶ Eaton Vance Declares Quarterly Dividend   [Apr-12-17 01:34PM  PR Newswire]
▶ U.S. Stocks Pulled Lower by Energy and Health-Care Sectors   [12:12AM  at The Wall Street Journal]
▶ Global Stocks Boosted by Steady Fed, Dutch Elections   [Mar-16-17 09:06AM  at The Wall Street Journal]
▶ Eaton Vance Expands Presence in Japan   [08:30AM  PR Newswire]
▶ Parametric Launches Defensive Equity Fund   [Feb-16-17 09:00AM  PR Newswire]
▶ Vanguard's 2016 Inflows Off the Charts   [12:01AM  at Barrons.com]
▶ [$$] Davis Funds' Unconventional Wisdom   [Jan-07-17 12:01AM  at Barrons.com]
▶ [$$] The 3 Best Tech Stocks Are Still Underpriced   [Dec-13-16 07:34AM  at Barrons.com]
▶ Here is What Hedge Funds Think About Eaton Vance Corp (EV)   [Dec-12-16 10:08AM  at Insider Monkey]
▶ Do Hedge Funds Love Advanced Micro Devices, Inc. (AMD)?   [Nov-29-16 12:32AM  at Insider Monkey]
▶ Eaton Vance Down: 4Q Earnings, Revenue Missed   [10:20AM  at Barrons.com]
Stock chart of EV Financial statements of EV
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.