Intrinsic value of Five Below - FIVE

Previous Close

$59.49

  Intrinsic Value

$78.73

stock screener

  Rating & Target

buy

+32%

Previous close

$59.49

 
Intrinsic value

$78.73

 
Up/down potential

+32%

 
Rating

buy

We calculate the intrinsic value of FIVE 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 2017), $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 3.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.19
  28.60
  26.24
  24.12
  22.20
  20.48
  18.94
  17.54
  16.29
  15.16
  14.14
  13.23
  12.41
  11.67
  11.00
  10.40
  9.86
  9.37
  8.94
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
  6.24
  6.11
Revenue, $m
  1,000
  1,286
  1,623
  2,015
  2,462
  2,967
  3,529
  4,148
  4,823
  5,554
  6,340
  7,178
  8,069
  9,010
  10,001
  11,041
  12,130
  13,267
  14,452
  15,687
  16,971
  18,307
  19,695
  21,137
  22,636
  24,194
  25,814
  27,498
  29,250
  31,074
  32,973
Variable operating expenses, $m
 
  1,125
  1,421
  1,763
  2,155
  2,596
  3,087
  3,629
  4,220
  4,860
  5,547
  6,281
  7,060
  7,884
  8,751
  9,661
  10,614
  11,608
  12,646
  13,726
  14,850
  16,018
  17,233
  18,495
  19,807
  21,170
  22,587
  24,061
  25,594
  27,190
  28,851
Fixed operating expenses, $m
 
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
  17
  18
  18
  18
  19
  19
  20
  20
  21
  21
  22
  23
  23
Total operating expenses, $m
  886
  1,136
  1,433
  1,775
  2,167
  2,608
  3,100
  3,642
  4,233
  4,874
  5,561
  6,295
  7,075
  7,899
  8,767
  9,677
  10,630
  11,625
  12,663
  13,744
  14,868
  16,036
  17,252
  18,514
  19,827
  21,190
  22,608
  24,082
  25,616
  27,213
  28,874
Operating income, $m
  114
  149
  191
  240
  296
  358
  428
  505
  589
  681
  778
  883
  994
  1,111
  1,235
  1,364
  1,500
  1,642
  1,789
  1,943
  2,103
  2,270
  2,443
  2,623
  2,810
  3,004
  3,206
  3,416
  3,634
  3,862
  4,099
EBITDA, $m
  141
  183
  234
  292
  360
  436
  520
  613
  715
  825
  943
  1,070
  1,204
  1,345
  1,495
  1,651
  1,815
  1,987
  2,165
  2,351
  2,545
  2,746
  2,955
  3,172
  3,398
  3,633
  3,877
  4,131
  4,395
  4,670
  4,956
Interest expense (income), $m
  0
  0
  2
  4
  6
  9
  12
  15
  19
  23
  27
  32
  37
  42
  48
  54
  60
  66
  73
  80
  87
  95
  103
  111
  120
  129
  138
  148
  158
  168
  179
Earnings before tax, $m
  114
  149
  190
  236
  290
  350
  417
  490
  571
  658
  751
  851
  957
  1,069
  1,187
  1,311
  1,440
  1,575
  1,716
  1,863
  2,016
  2,175
  2,340
  2,511
  2,690
  2,875
  3,068
  3,268
  3,477
  3,694
  3,920
Tax expense, $m
  42
  40
  51
  64
  78
  94
  112
  132
  154
  178
  203
  230
  258
  289
  320
  354
  389
  425
  463
  503
  544
  587
  632
  678
  726
  776
  828
  882
  939
  997
  1,058
Net income, $m
  72
  109
  138
  173
  211
  255
  304
  358
  417
  480
  548
  621
  699
  780
  866
  957
  1,051
  1,150
  1,253
  1,360
  1,472
  1,588
  1,708
  1,833
  1,964
  2,099
  2,239
  2,386
  2,538
  2,696
  2,861

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  154
  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
  501
  446
  563
  699
  854
  1,029
  1,224
  1,439
  1,674
  1,927
  2,200
  2,491
  2,800
  3,126
  3,470
  3,831
  4,209
  4,603
  5,015
  5,443
  5,889
  6,352
  6,834
  7,334
  7,854
  8,395
  8,957
  9,541
  10,149
  10,782
  11,441
Adjusted assets (=assets-cash), $m
  347
  446
  563
  699
  854
  1,029
  1,224
  1,439
  1,674
  1,927
  2,200
  2,491
  2,800
  3,126
  3,470
  3,831
  4,209
  4,603
  5,015
  5,443
  5,889
  6,352
  6,834
  7,334
  7,854
  8,395
  8,957
  9,541
  10,149
  10,782
  11,441
Revenue / Adjusted assets
  2.882
  2.883
  2.883
  2.883
  2.883
  2.883
  2.883
  2.883
  2.881
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
  2.882
Average production assets, $m
  130
  167
  211
  262
  320
  386
  459
  539
  627
  722
  824
  933
  1,049
  1,171
  1,300
  1,435
  1,577
  1,725
  1,879
  2,039
  2,206
  2,380
  2,560
  2,748
  2,943
  3,145
  3,356
  3,575
  3,803
  4,040
  4,287
Working capital, $m
  223
  89
  112
  139
  170
  205
  243
  286
  333
  383
  437
  495
  557
  622
  690
  762
  837
  915
  997
  1,082
  1,171
  1,263
  1,359
  1,458
  1,562
  1,669
  1,781
  1,897
  2,018
  2,144
  2,275
Total debt, $m
  0
  49
  106
  173
  249
  334
  430
  535
  650
  774
  908
  1,050
  1,202
  1,362
  1,530
  1,707
  1,892
  2,086
  2,287
  2,497
  2,715
  2,943
  3,179
  3,424
  3,679
  3,943
  4,219
  4,505
  4,803
  5,113
  5,436
Total liabilities, $m
  169
  219
  276
  343
  419
  504
  600
  705
  820
  944
  1,078
  1,220
  1,372
  1,532
  1,700
  1,877
  2,062
  2,256
  2,457
  2,667
  2,885
  3,113
  3,349
  3,594
  3,849
  4,113
  4,389
  4,675
  4,973
  5,283
  5,606
Total equity, $m
  331
  228
  287
  357
  436
  525
  624
  734
  853
  983
  1,122
  1,270
  1,428
  1,594
  1,770
  1,954
  2,146
  2,348
  2,557
  2,776
  3,003
  3,240
  3,485
  3,740
  4,006
  4,281
  4,568
  4,866
  5,176
  5,499
  5,835
Total liabilities and equity, $m
  500
  447
  563
  700
  855
  1,029
  1,224
  1,439
  1,673
  1,927
  2,200
  2,490
  2,800
  3,126
  3,470
  3,831
  4,208
  4,604
  5,014
  5,443
  5,888
  6,353
  6,834
  7,334
  7,855
  8,394
  8,957
  9,541
  10,149
  10,782
  11,441
Debt-to-equity ratio
  0.000
  0.210
  0.370
  0.480
  0.570
  0.640
  0.690
  0.730
  0.760
  0.790
  0.810
  0.830
  0.840
  0.850
  0.860
  0.870
  0.880
  0.890
  0.890
  0.900
  0.900
  0.910
  0.910
  0.920
  0.920
  0.920
  0.920
  0.930
  0.930
  0.930
  0.930
Adjusted equity ratio
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510
  0.510

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  72
  109
  138
  173
  211
  255
  304
  358
  417
  480
  548
  621
  699
  780
  866
  957
  1,051
  1,150
  1,253
  1,360
  1,472
  1,588
  1,708
  1,833
  1,964
  2,099
  2,239
  2,386
  2,538
  2,696
  2,861
Depreciation, amort., depletion, $m
  27
  33
  42
  52
  64
  77
  92
  108
  125
  144
  165
  187
  210
  234
  260
  287
  315
  345
  376
  408
  441
  476
  512
  550
  589
  629
  671
  715
  761
  808
  857
Funds from operations, $m
  106
  143
  181
  225
  275
  332
  396
  466
  542
  625
  713
  808
  908
  1,015
  1,126
  1,244
  1,367
  1,495
  1,629
  1,768
  1,913
  2,064
  2,220
  2,383
  2,552
  2,728
  2,911
  3,101
  3,298
  3,504
  3,719
Change in working capital, $m
  -1
  20
  23
  27
  31
  35
  39
  43
  47
  50
  54
  58
  61
  65
  68
  72
  75
  78
  82
  85
  89
  92
  96
  100
  103
  107
  112
  116
  121
  126
  131
Cash from operations, $m
  107
  123
  157
  198
  245
  298
  357
  423
  495
  574
  659
  750
  847
  950
  1,058
  1,172
  1,292
  1,417
  1,547
  1,683
  1,824
  1,971
  2,124
  2,283
  2,449
  2,620
  2,799
  2,984
  3,178
  3,378
  3,588
Maintenance CAPEX, $m
  0
  -26
  -33
  -42
  -52
  -64
  -77
  -92
  -108
  -125
  -144
  -165
  -187
  -210
  -234
  -260
  -287
  -315
  -345
  -376
  -408
  -441
  -476
  -512
  -550
  -589
  -629
  -671
  -715
  -761
  -808
New CAPEX, $m
  -45
  -38
  -44
  -51
  -58
  -66
  -73
  -80
  -88
  -95
  -102
  -109
  -116
  -122
  -129
  -135
  -142
  -148
  -154
  -160
  -167
  -174
  -180
  -188
  -195
  -203
  -211
  -219
  -228
  -237
  -247
Cash from investing activities, $m
  -87
  -64
  -77
  -93
  -110
  -130
  -150
  -172
  -196
  -220
  -246
  -274
  -303
  -332
  -363
  -395
  -429
  -463
  -499
  -536
  -575
  -615
  -656
  -700
  -745
  -792
  -840
  -890
  -943
  -998
  -1,055
Free cash flow, $m
  20
  59
  80
  105
  134
  168
  207
  251
  300
  354
  413
  476
  545
  618
  695
  777
  863
  953
  1,048
  1,147
  1,249
  1,357
  1,468
  1,584
  1,704
  1,829
  1,959
  2,094
  2,235
  2,381
  2,533
Issuance/(repayment) of debt, $m
  0
  49
  57
  67
  76
  86
  96
  105
  115
  124
  134
  143
  151
  160
  168
  177
  185
  193
  202
  210
  218
  227
  236
  245
  255
  265
  275
  286
  298
  310
  323
Issuance/(repurchase) of shares, $m
  3
  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  
  3
  49
  57
  67
  76
  86
  96
  105
  115
  124
  134
  143
  151
  160
  168
  177
  185
  193
  202
  210
  218
  227
  236
  245
  255
  265
  275
  286
  298
  310
  323
Total cash flow (excl. dividends), $m
  23
  108
  137
  171
  210
  254
  302
  356
  415
  478
  546
  619
  696
  778
  864
  954
  1,048
  1,147
  1,249
  1,356
  1,468
  1,584
  1,704
  1,829
  1,959
  2,094
  2,235
  2,381
  2,533
  2,691
  2,856
Retained Cash Flow (-), $m
  -87
  -51
  -60
  -69
  -79
  -89
  -99
  -110
  -120
  -129
  -139
  -148
  -158
  -167
  -175
  -184
  -193
  -201
  -210
  -218
  -227
  -236
  -246
  -255
  -265
  -276
  -287
  -298
  -310
  -323
  -336
Prev. year cash balance distribution, $m
 
  154
  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
 
  211
  78
  102
  131
  165
  203
  247
  295
  349
  407
  470
  538
  611
  688
  770
  855
  945
  1,040
  1,138
  1,241
  1,347
  1,458
  1,574
  1,694
  1,818
  1,948
  2,083
  2,223
  2,368
  2,520
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
 
  203
  71
  89
  108
  128
  147
  167
  184
  200
  213
  223
  230
  232
  231
  226
  217
  206
  191
  175
  158
  139
  121
  103
  86
  71
  57
  45
  34
  26
  19
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

Five Below, Inc. is a specialty retailer offering a range of merchandise for teen and pre-teen customer. The Company offers an assortment of products, including select brands and licensed merchandise across a range of categories, including Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Its product groups include leisure, fashion and home, and party and snack. Its Leisure includes items, such as sporting goods, games, toys, tech, books, electronic accessories, and arts and crafts. Its Fashion and home includes items, such as personal accessories, attitude t-shirts, beauty offerings, home goods and storage options. Its Party and snack includes items, such as party and seasonal goods, greeting cards, candy and other snacks, and beverages. The Company operated 522 locations across over 31 states throughout the Northeast, South and Midwest regions of the United States, as of January 29, 2017. Its typical store featured 4,000 stock-keeping units (SKUs), as of January 29, 2017.

FINANCIAL RATIOS  of  Five Below (FIVE)

Valuation Ratios
P/E Ratio 45.4
Price to Sales 3.3
Price to Book 9.9
Price to Tangible Book
Price to Cash Flow 30.5
Price to Free Cash Flow 52.7
Growth Rates
Sales Growth Rate 20.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.1%
Cap. Spend. - 3 Yr. Gr. Rate 11.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 16.1%
Ret/ On Assets - 3 Yr. Avg. 17.1%
Return On Total Capital 25%
Ret/ On T. Cap. - 3 Yr. Avg. 27.9%
Return On Equity 25%
Return On Equity - 3 Yr. Avg. 28.6%
Asset Turnover 2.2
Profitability Ratios
Gross Margin 35.7%
Gross Margin - 3 Yr. Avg. 35.3%
EBITDA Margin 14.1%
EBITDA Margin - 3 Yr. Avg. 13.9%
Operating Margin 11.4%
Oper. Margin - 3 Yr. Avg. 11.3%
Pre-Tax Margin 11.4%
Pre-Tax Margin - 3 Yr. Avg. 11.3%
Net Profit Margin 7.2%
Net Profit Margin - 3 Yr. Avg. 7.1%
Effective Tax Rate 36.8%
Eff/ Tax Rate - 3 Yr. Avg. 37.4%
Payout Ratio 0%

FIVE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FIVE stock intrinsic value calculation we used $1000 million for the last fiscal year's total revenue generated by Five Below. The default revenue input number comes from 2017 income statement of Five Below. 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 FIVE stock valuation model: a) initial revenue growth rate of 28.6% 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 FIVE is calculated based on our internal credit rating of Five Below, 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 Five Below.
    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 FIVE stock the variable cost ratio is equal to 87.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $11 million in the base year in the intrinsic value calculation for FIVE 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 Five Below.

Corporate tax rate of 27% is the nominal tax rate for Five Below. 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 FIVE 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 FIVE are equal to 13%.

Life of production assets of 4.8 years is the average useful life of capital assets used in Five Below 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 FIVE is equal to 6.9%. 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 - $331 million for Five Below - 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 55.14 million for Five Below 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 Five Below at the current share price and the inputted number of shares is $3.3 billion.

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COMPANY NEWS

▶ When Should You Buy Five Below Inc (FIVE)?   [Nov-17-17 07:14AM  Simply Wall St.]
▶ This Sector Leader Wins By Riding The Trend   [Oct-04-17 04:06PM  Investor's Business Daily]
▶ Amazon Who? This Fast-Growing, Teen-Focused Retailer Breaks Out   [Sep-29-17 04:06PM  Investor's Business Daily]
▶ Teen-Focused Discount Retailer Keeps Growing, Nears Buy Zone   [Sep-11-17 10:40AM  Investor's Business Daily]
▶ You Reached Retirement: 3 Stocks to Consider Today   [Sep-01-17 05:00PM  Motley Fool]
▶ Five Below beats Street 2Q forecasts   [Aug-31-17 08:03PM  Associated Press]
▶ Five Below Beats Q2 Views On Fidget Spinner Fad, Lifts Outlook   [04:31PM  Investor's Business Daily]
▶ Will Future Sales Of The Fidget Spinner Impact Five Below?   [Aug-29-17 11:15AM  Investor's Business Daily]
▶ 3 Things to Watch in the Stock Market This Week   [Aug-27-17 06:29PM  Motley Fool]
▶ 3 Stocks That Look Just Like eBay in 1998   [Aug-16-17 09:35PM  Motley Fool]
▶ Why Five Below Inc. Stock Gained 22% in 2017 So Far   [Jul-16-17 02:30PM  Motley Fool]
▶ Is Five Below (FIVE) a Great Growth Stock?   [Jun-21-17 08:39AM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for June 19th   [Jun-19-17 10:39AM  Zacks]
▶ Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks   [Jun-14-17 04:13PM  Investor's Business Daily]
▶ Have We Reached Peak Fidget Spinner?   [10:38AM  Barrons.com]
▶ Weakening trend toward outlets and off-price retail   [Jun-12-17 10:50AM  CNBC Videos]
▶ ETFs with exposure to Five Below, Inc. : June 8, 2017   [Jun-08-17 01:36PM  Capital Cube]
▶ Retail And E-Commerce News And Stocks To Watch   [Jun-06-17 05:22PM  Investor's Business Daily]
▶ Industry News And Stocks To Watch   [03:57PM  Investor's Business Daily]
▶ Earnings Calendar, Analyst Estimates And Stocks To Watch   [Jun-02-17 04:43PM  Investor's Business Daily]
▶ Five Below Posts Solid Results, Sees Better Times Ahead   [Jun-01-17 06:53PM  Motley Fool]
▶ Five Below tops Street 1Q forecasts   [04:06PM  Associated Press]
▶ Stocks Off, Banks Sink; Will These 4 Leaders Offer New Entries?   [May-31-17 03:00PM  Investor's Business Daily]
▶ 3 Things to Watch in the Stock Market This Week   [May-30-17 07:00AM  Motley Fool]
▶ How Investors Can Play the Fidget Spinner Craze   [May-19-17 04:39PM  Barrons.com]
Financial statements of FIVE
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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