Intrinsic value of Eagle Materials - EXP

Previous Close

$96.54

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$96.54

 
Intrinsic value

$34.13

 
Up/down potential

-65%

 
Rating

str. sell

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of EXP 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 4.7

 

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, %
  7.22
  9.00
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
Revenue, $m
  1,143
  1,246
  1,353
  1,465
  1,580
  1,701
  1,826
  1,956
  2,092
  2,232
  2,378
  2,530
  2,689
  2,853
  3,025
  3,204
  3,391
  3,585
  3,789
  4,001
  4,222
  4,454
  4,696
  4,950
  5,215
  5,492
  5,782
  6,086
  6,405
  6,738
  7,088
Variable operating expenses, $m
 
  949
  1,030
  1,114
  1,201
  1,291
  1,385
  1,483
  1,585
  1,690
  1,800
  1,901
  2,020
  2,144
  2,273
  2,407
  2,547
  2,694
  2,846
  3,006
  3,172
  3,346
  3,528
  3,718
  3,918
  4,126
  4,344
  4,573
  4,812
  5,062
  5,325
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
  924
  949
  1,030
  1,114
  1,201
  1,291
  1,385
  1,483
  1,585
  1,690
  1,800
  1,901
  2,020
  2,144
  2,273
  2,407
  2,547
  2,694
  2,846
  3,006
  3,172
  3,346
  3,528
  3,718
  3,918
  4,126
  4,344
  4,573
  4,812
  5,062
  5,325
Operating income, $m
  219
  296
  323
  351
  380
  410
  441
  473
  507
  542
  578
  629
  669
  710
  752
  797
  843
  892
  942
  995
  1,050
  1,108
  1,168
  1,231
  1,297
  1,366
  1,438
  1,514
  1,593
  1,676
  1,763
EBITDA, $m
  316
  406
  441
  477
  515
  554
  595
  637
  681
  727
  775
  824
  876
  930
  986
  1,044
  1,105
  1,168
  1,234
  1,303
  1,376
  1,451
  1,530
  1,613
  1,699
  1,789
  1,884
  1,983
  2,087
  2,195
  2,309
Interest expense (income), $m
  17
  18
  20
  23
  26
  29
  32
  35
  39
  42
  46
  49
  53
  57
  62
  66
  71
  75
  80
  86
  91
  97
  103
  109
  115
  122
  129
  137
  145
  153
  161
Earnings before tax, $m
  219
  279
  303
  328
  354
  381
  409
  438
  468
  500
  533
  580
  615
  652
  691
  731
  773
  816
  862
  910
  959
  1,011
  1,065
  1,122
  1,182
  1,244
  1,309
  1,377
  1,448
  1,523
  1,602
Tax expense, $m
  66
  75
  82
  89
  96
  103
  110
  118
  126
  135
  144
  157
  166
  176
  187
  197
  209
  220
  233
  246
  259
  273
  288
  303
  319
  336
  353
  372
  391
  411
  432
Net income, $m
  153
  204
  221
  239
  258
  278
  298
  320
  342
  365
  389
  423
  449
  476
  504
  534
  564
  596
  629
  664
  700
  738
  778
  819
  863
  908
  956
  1,005
  1,057
  1,112
  1,169

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  5
  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
  1,884
  2,049
  2,225
  2,409
  2,599
  2,798
  3,004
  3,218
  3,440
  3,671
  3,912
  4,162
  4,422
  4,693
  4,976
  5,270
  5,577
  5,897
  6,231
  6,580
  6,945
  7,326
  7,724
  8,141
  8,577
  9,033
  9,510
  10,010
  10,534
  11,083
  11,658
Adjusted assets (=assets-cash), $m
  1,879
  2,049
  2,225
  2,409
  2,599
  2,798
  3,004
  3,218
  3,440
  3,671
  3,912
  4,162
  4,422
  4,693
  4,976
  5,270
  5,577
  5,897
  6,231
  6,580
  6,945
  7,326
  7,724
  8,141
  8,577
  9,033
  9,510
  10,010
  10,534
  11,083
  11,658
Revenue / Adjusted assets
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
  0.608
Average production assets, $m
  1,295
  1,412
  1,533
  1,659
  1,791
  1,927
  2,069
  2,216
  2,370
  2,529
  2,695
  2,867
  3,046
  3,233
  3,428
  3,630
  3,842
  4,062
  4,292
  4,533
  4,784
  5,046
  5,321
  5,608
  5,908
  6,222
  6,551
  6,896
  7,257
  7,635
  8,031
Working capital, $m
  259
  285
  310
  335
  362
  390
  418
  448
  479
  511
  545
  579
  616
  653
  693
  734
  776
  821
  868
  916
  967
  1,020
  1,075
  1,133
  1,194
  1,258
  1,324
  1,394
  1,467
  1,543
  1,623
Total debt, $m
  508
  579
  658
  739
  824
  913
  1,005
  1,100
  1,199
  1,302
  1,410
  1,521
  1,637
  1,758
  1,884
  2,015
  2,152
  2,295
  2,444
  2,600
  2,762
  2,932
  3,110
  3,296
  3,490
  3,694
  3,907
  4,130
  4,363
  4,608
  4,865
Total liabilities, $m
  843
  914
  993
  1,074
  1,159
  1,248
  1,340
  1,435
  1,534
  1,637
  1,745
  1,856
  1,972
  2,093
  2,219
  2,350
  2,487
  2,630
  2,779
  2,935
  3,097
  3,267
  3,445
  3,631
  3,825
  4,029
  4,242
  4,465
  4,698
  4,943
  5,200
Total equity, $m
  1,041
  1,135
  1,233
  1,334
  1,440
  1,550
  1,664
  1,783
  1,906
  2,034
  2,167
  2,306
  2,450
  2,600
  2,756
  2,920
  3,090
  3,267
  3,452
  3,645
  3,847
  4,058
  4,279
  4,510
  4,751
  5,004
  5,269
  5,546
  5,836
  6,140
  6,459
Total liabilities and equity, $m
  1,884
  2,049
  2,226
  2,408
  2,599
  2,798
  3,004
  3,218
  3,440
  3,671
  3,912
  4,162
  4,422
  4,693
  4,975
  5,270
  5,577
  5,897
  6,231
  6,580
  6,944
  7,325
  7,724
  8,141
  8,576
  9,033
  9,511
  10,011
  10,534
  11,083
  11,659
Debt-to-equity ratio
  0.488
  0.510
  0.530
  0.550
  0.570
  0.590
  0.600
  0.620
  0.630
  0.640
  0.650
  0.660
  0.670
  0.680
  0.680
  0.690
  0.700
  0.700
  0.710
  0.710
  0.720
  0.720
  0.730
  0.730
  0.730
  0.740
  0.740
  0.740
  0.750
  0.750
  0.750
Adjusted equity ratio
  0.551
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  153
  204
  221
  239
  258
  278
  298
  320
  342
  365
  389
  423
  449
  476
  504
  534
  564
  596
  629
  664
  700
  738
  778
  819
  863
  908
  956
  1,005
  1,057
  1,112
  1,169
Depreciation, amort., depletion, $m
  97
  109
  118
  126
  135
  144
  154
  164
  175
  185
  197
  195
  207
  220
  233
  247
  261
  276
  292
  308
  325
  343
  362
  381
  402
  423
  446
  469
  494
  519
  546
Funds from operations, $m
  249
  313
  339
  366
  393
  422
  453
  484
  516
  550
  585
  618
  657
  696
  738
  781
  825
  872
  921
  972
  1,026
  1,081
  1,140
  1,201
  1,265
  1,331
  1,401
  1,474
  1,551
  1,631
  1,716
Change in working capital, $m
  -17
  24
  25
  26
  27
  28
  29
  30
  31
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  49
  51
  53
  55
  58
  61
  64
  66
  70
  73
  76
  80
Cash from operations, $m
  266
  283
  314
  340
  367
  395
  424
  454
  485
  518
  552
  584
  620
  658
  698
  740
  783
  828
  875
  924
  975
  1,028
  1,084
  1,143
  1,204
  1,268
  1,335
  1,405
  1,478
  1,555
  1,635
Maintenance CAPEX, $m
  0
  -88
  -96
  -104
  -113
  -122
  -131
  -141
  -151
  -161
  -172
  -183
  -195
  -207
  -220
  -233
  -247
  -261
  -276
  -292
  -308
  -325
  -343
  -362
  -381
  -402
  -423
  -446
  -469
  -494
  -519
New CAPEX, $m
  -90
  -117
  -121
  -126
  -131
  -137
  -142
  -147
  -153
  -159
  -166
  -172
  -179
  -187
  -195
  -203
  -211
  -221
  -230
  -240
  -251
  -262
  -274
  -287
  -300
  -314
  -329
  -344
  -361
  -378
  -396
Cash from investing activities, $m
  -122
  -205
  -217
  -230
  -244
  -259
  -273
  -288
  -304
  -320
  -338
  -355
  -374
  -394
  -415
  -436
  -458
  -482
  -506
  -532
  -559
  -587
  -617
  -649
  -681
  -716
  -752
  -790
  -830
  -872
  -915
Free cash flow, $m
  144
  78
  97
  109
  123
  137
  151
  166
  181
  198
  214
  228
  246
  265
  284
  304
  324
  346
  368
  391
  415
  440
  467
  494
  522
  552
  582
  615
  648
  683
  720
Issuance/(repayment) of debt, $m
  -5
  76
  79
  82
  85
  88
  92
  95
  99
  103
  107
  112
  116
  121
  126
  131
  137
  143
  149
  156
  163
  170
  178
  186
  194
  203
  213
  223
  234
  245
  256
Issuance/(repurchase) of shares, $m
  -121
  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  
  -126
  76
  79
  82
  85
  88
  92
  95
  99
  103
  107
  112
  116
  121
  126
  131
  137
  143
  149
  156
  163
  170
  178
  186
  194
  203
  213
  223
  234
  245
  256
Total cash flow (excl. dividends), $m
  18
  154
  175
  191
  208
  225
  243
  261
  281
  301
  322
  340
  362
  385
  410
  435
  461
  489
  517
  547
  578
  610
  644
  680
  716
  755
  795
  838
  882
  928
  976
Retained Cash Flow (-), $m
  -30
  -94
  -98
  -102
  -106
  -110
  -114
  -119
  -123
  -128
  -133
  -139
  -144
  -150
  -156
  -163
  -170
  -177
  -185
  -193
  -202
  -211
  -221
  -231
  -241
  -253
  -265
  -277
  -290
  -304
  -319
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
 
  60
  78
  90
  102
  115
  129
  143
  157
  173
  188
  201
  218
  235
  253
  272
  291
  311
  332
  354
  376
  399
  424
  449
  475
  502
  531
  561
  592
  624
  658
Discount rate, %
 
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
 
  57
  71
  77
  83
  87
  91
  93
  94
  94
  93
  89
  86
  82
  77
  72
  66
  59
  53
  46
  40
  34
  28
  23
  19
  15
  11
  9
  6
  5
  3
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

Eagle Materials Inc. produces and sells construction products and building materials for use in residential, industrial, commercial, and infrastructure construction in the United States. It also produces materials used for oil and natural gas extraction. The company operates in five segments: Cement, Gypsum Wallboard, Recycled Paperboard, Concrete and Aggregates, and Oil and Gas Proppants. The Cement segment is involved in the mining of limestone; and manufacture, production, distribution, and sale of Portland cement, as well as specialty oil well cement. The Gypsum Wallboard segment engages in the mining of gypsum; and manufacture and sale of gypsum wallboard used to finish the interior walls and ceilings in residential, commercial, and industrial structures. The Recycled Paperboard manufactures and sells recycled paperboard to gypsum wallboard manufacturers and other industrial users. This segment also offers containerboard grades, lightweight packaging grades, and recycled industrial paperboard grades. The Concrete and Aggregates segment is involved in the sale of readymix concrete; and mining, extraction, production, and sale of crushed stone, sand, and gravel, as well as lightweight aggregates, such as expanded clays and shales. This segmentÂ’s products are used primarily in commercial and residential construction; public construction projects; and projects to build, expand, and repair roads and highways, as well as in oil and natural gas extraction. The Oil and Gas Proppants segment engages in the mining and sale of sand used in hydraulic fracturing in the energy industry. The company, formerly known as Centex Construction Products, Inc., was founded in 1963 and is headquartered in Dallas, Texas.

FINANCIAL RATIOS  of  Eagle Materials (EXP)

Valuation Ratios
P/E Ratio 30.6
Price to Sales 4.1
Price to Book 4.5
Price to Tangible Book
Price to Cash Flow 17.6
Price to Free Cash Flow 26.6
Growth Rates
Sales Growth Rate 7.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -19.6%
Cap. Spend. - 3 Yr. Gr. Rate 11.2%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 48%
Total Debt to Equity 48.8%
Interest Coverage 14
Management Effectiveness
Return On Assets 8.8%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 10%
Ret/ On T. Cap. - 3 Yr. Avg. 11.3%
Return On Equity 14.9%
Return On Equity - 3 Yr. Avg. 17.1%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 20.3%
Gross Margin - 3 Yr. Avg. 21.6%
EBITDA Margin 29.1%
EBITDA Margin - 3 Yr. Avg. 30.5%
Operating Margin 19.2%
Oper. Margin - 3 Yr. Avg. 21%
Pre-Tax Margin 19.2%
Pre-Tax Margin - 3 Yr. Avg. 21.1%
Net Profit Margin 13.4%
Net Profit Margin - 3 Yr. Avg. 14.9%
Effective Tax Rate 30.1%
Eff/ Tax Rate - 3 Yr. Avg. 29.4%
Payout Ratio 13.1%

EXP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXP stock intrinsic value calculation we used $1143 million for the last fiscal year's total revenue generated by Eagle Materials. The default revenue input number comes from 2016 income statement of Eagle Materials. 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 EXP stock valuation model: a) initial revenue growth rate of 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 4.7%, whose default value for EXP is calculated based on our internal credit rating of Eagle Materials, 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 Eagle Materials.
    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 EXP stock the variable cost ratio is equal to 76.3%.

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 EXP 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 Eagle Materials.

Corporate tax rate of 27% is the nominal tax rate for Eagle Materials. 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 EXP 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 EXP are equal to 113.3%.

Life of production assets of 14.7 years is the average useful life of capital assets used in Eagle Materials 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 EXP is equal to 22.9%. 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 - $1041 million for Eagle Materials - 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 48.898 million for Eagle Materials 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 Eagle Materials at the current share price and the inputted number of shares is $4.7 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
USG USG 28.95 prem.  prem.
CBPX Continental Bu 25.00 prem.  prem.
MLM Martin Mariett 227.41 prem.  prem.
SUM Summit Materia 26.84 prem.  prem.

COMPANY NEWS

▶ 3 Top Dividend Stocks in Cement   [11:00AM  Motley Fool]
▶ Eagle Materials Declares Quarterly Dividend   [May-22-17 04:15PM  Business Wire]
▶ 3 Concrete Picks For Your Portfolio   [May-19-17 11:50AM  Zacks]
▶ Eagle Materials beats 4Q profit forecasts   [06:48AM  Associated Press]
▶ Stock Indexes Close High In Range; Trump Stirs Rally   [Feb-27-17 04:17PM  Investor's Business Daily]
▶ A Close Look at Eagle Materials' Dividend Potential   [Feb-23-17 11:27AM  Motley Fool]
▶ Eagle Materials Declares Quarterly Dividend   [Jan-31-17 04:15PM  Business Wire]
▶ Eagle Materials, Inc. Builds Another Record Quarter   [Jan-24-17 07:30PM  at Motley Fool]
▶ Is Aspen Technology, Inc. (AZPN) Going to Burn These Hedge Funds?   [Dec-08-16 09:29AM  at Insider Monkey]
▶ Is Eagle Materials, Inc. (EXP) A Good Stock To Buy?   [Nov-26-16 08:57AM  at Insider Monkey]
▶ Eagle Materials Declares Quarterly Dividend   [Nov-15-16 04:15PM  Business Wire]
▶ 5 Top Construction Stocks for the Housing Rebound   [Nov-14-16 12:26PM  at Motley Fool]
▶ Eagle Materials, Inc. Earnings Double on Record Revenue   [Oct-24-16 03:00PM  at Motley Fool]
▶ Business Watch   [Sep-13-16 12:09AM  at The Wall Street Journal]
▶ [$$] Cemex to Sell Ohio Assets to Eagle Materials   [Sep-12-16 09:30PM  at The Wall Street Journal]
▶ [$$] Cemex to Sell Ohio Assets to Eagle Materials   [01:42PM  at The Wall Street Journal]
▶ 3 Best Gypsum Stocks to Buy   [Aug-30-16 02:04PM  at Motley Fool]
▶ Eagle Materials Declares Quarterly Dividend   [Aug-08-16 04:15PM  Business Wire]
Stock chart of EXP Financial statements of EXP Annual reports of EXP
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.