Intrinsic value of Fluor - FLR

Previous Close

$60.43

  Intrinsic Value

$86.87

stock screener

  Rating & Target

buy

+44%

Previous close

$60.43

 
Intrinsic value

$86.87

 
Up/down potential

+44%

 
Rating

buy

We calculate the intrinsic value of FLR 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  5.10
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
Revenue, $m
  19,037
  19,741
  20,497
  21,306
  22,170
  23,089
  24,067
  25,104
  26,203
  27,366
  28,597
  29,897
  31,270
  32,718
  34,246
  35,857
  37,554
  39,341
  41,223
  43,203
  45,287
  47,480
  49,787
  52,212
  54,763
  57,444
  60,263
  63,225
  66,339
  69,611
  73,048
Variable operating expenses, $m
 
  18,950
  19,673
  20,448
  21,274
  22,154
  23,090
  24,082
  25,135
  26,248
  27,426
  28,617
  29,932
  31,318
  32,781
  34,322
  35,946
  37,657
  39,458
  41,354
  43,349
  45,448
  47,656
  49,978
  52,419
  54,986
  57,684
  60,520
  63,500
  66,632
  69,922
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
  18,490
  18,950
  19,673
  20,448
  21,274
  22,154
  23,090
  24,082
  25,135
  26,248
  27,426
  28,617
  29,932
  31,318
  32,781
  34,322
  35,946
  37,657
  39,458
  41,354
  43,349
  45,448
  47,656
  49,978
  52,419
  54,986
  57,684
  60,520
  63,500
  66,632
  69,922
Operating income, $m
  547
  792
  824
  859
  896
  935
  977
  1,021
  1,068
  1,118
  1,171
  1,279
  1,338
  1,400
  1,466
  1,534
  1,607
  1,684
  1,764
  1,849
  1,938
  2,032
  2,131
  2,234
  2,344
  2,458
  2,579
  2,706
  2,839
  2,979
  3,126
EBITDA, $m
  773
  1,028
  1,067
  1,109
  1,154
  1,202
  1,253
  1,307
  1,364
  1,425
  1,489
  1,556
  1,628
  1,703
  1,783
  1,866
  1,955
  2,048
  2,146
  2,249
  2,357
  2,472
  2,592
  2,718
  2,851
  2,990
  3,137
  3,291
  3,453
  3,623
  3,802
Interest expense (income), $m
  72
  85
  97
  111
  125
  140
  157
  174
  192
  212
  232
  254
  277
  301
  327
  354
  382
  412
  444
  477
  512
  549
  588
  628
  671
  716
  764
  813
  866
  921
  979
Earnings before tax, $m
  547
  707
  727
  748
  771
  795
  820
  847
  876
  906
  938
  1,026
  1,061
  1,099
  1,139
  1,181
  1,225
  1,271
  1,320
  1,372
  1,426
  1,483
  1,543
  1,606
  1,672
  1,742
  1,815
  1,892
  1,973
  2,058
  2,148
Tax expense, $m
  220
  191
  196
  202
  208
  215
  221
  229
  237
  245
  253
  277
  287
  297
  308
  319
  331
  343
  357
  370
  385
  400
  417
  434
  452
  470
  490
  511
  533
  556
  580
Net income, $m
  281
  516
  530
  546
  562
  580
  599
  619
  640
  662
  685
  749
  775
  802
  831
  862
  894
  928
  964
  1,002
  1,041
  1,083
  1,126
  1,172
  1,221
  1,272
  1,325
  1,381
  1,440
  1,502
  1,568

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,961
  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
  9,216
  7,523
  7,812
  8,120
  8,449
  8,799
  9,172
  9,567
  9,986
  10,429
  10,898
  11,394
  11,917
  12,469
  13,051
  13,665
  14,312
  14,993
  15,710
  16,465
  17,259
  18,095
  18,974
  19,898
  20,870
  21,892
  22,966
  24,095
  25,282
  26,528
  27,839
Adjusted assets (=assets-cash), $m
  7,255
  7,523
  7,812
  8,120
  8,449
  8,799
  9,172
  9,567
  9,986
  10,429
  10,898
  11,394
  11,917
  12,469
  13,051
  13,665
  14,312
  14,993
  15,710
  16,465
  17,259
  18,095
  18,974
  19,898
  20,870
  21,892
  22,966
  24,095
  25,282
  26,528
  27,839
Revenue / Adjusted assets
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
  2.624
Average production assets, $m
  955
  987
  1,025
  1,065
  1,108
  1,154
  1,203
  1,255
  1,310
  1,368
  1,430
  1,495
  1,563
  1,636
  1,712
  1,793
  1,878
  1,967
  2,061
  2,160
  2,264
  2,374
  2,489
  2,611
  2,738
  2,872
  3,013
  3,161
  3,317
  3,481
  3,652
Working capital, $m
  1,794
  -79
  -82
  -85
  -89
  -92
  -96
  -100
  -105
  -109
  -114
  -120
  -125
  -131
  -137
  -143
  -150
  -157
  -165
  -173
  -181
  -190
  -199
  -209
  -219
  -230
  -241
  -253
  -265
  -278
  -292
Total debt, $m
  1,600
  1,738
  1,977
  2,232
  2,505
  2,795
  3,103
  3,430
  3,777
  4,144
  4,533
  4,943
  5,376
  5,833
  6,315
  6,824
  7,359
  7,923
  8,517
  9,142
  9,799
  10,491
  11,219
  11,985
  12,789
  13,635
  14,525
  15,460
  16,442
  17,475
  18,559
Total liabilities, $m
  6,091
  6,229
  6,468
  6,723
  6,996
  7,286
  7,594
  7,921
  8,268
  8,635
  9,024
  9,434
  9,867
  10,324
  10,806
  11,315
  11,850
  12,414
  13,008
  13,633
  14,290
  14,982
  15,710
  16,476
  17,280
  18,126
  19,016
  19,951
  20,933
  21,966
  23,050
Total equity, $m
  3,125
  1,294
  1,344
  1,397
  1,453
  1,513
  1,578
  1,646
  1,718
  1,794
  1,874
  1,960
  2,050
  2,145
  2,245
  2,350
  2,462
  2,579
  2,702
  2,832
  2,969
  3,112
  3,263
  3,422
  3,590
  3,765
  3,950
  4,144
  4,348
  4,563
  4,788
Total liabilities and equity, $m
  9,216
  7,523
  7,812
  8,120
  8,449
  8,799
  9,172
  9,567
  9,986
  10,429
  10,898
  11,394
  11,917
  12,469
  13,051
  13,665
  14,312
  14,993
  15,710
  16,465
  17,259
  18,094
  18,973
  19,898
  20,870
  21,891
  22,966
  24,095
  25,281
  26,529
  27,838
Debt-to-equity ratio
  0.512
  1.340
  1.470
  1.600
  1.720
  1.850
  1.970
  2.080
  2.200
  2.310
  2.420
  2.520
  2.620
  2.720
  2.810
  2.900
  2.990
  3.070
  3.150
  3.230
  3.300
  3.370
  3.440
  3.500
  3.560
  3.620
  3.680
  3.730
  3.780
  3.830
  3.880
Adjusted equity ratio
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172
  0.172

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  281
  516
  530
  546
  562
  580
  599
  619
  640
  662
  685
  749
  775
  802
  831
  862
  894
  928
  964
  1,002
  1,041
  1,083
  1,126
  1,172
  1,221
  1,272
  1,325
  1,381
  1,440
  1,502
  1,568
Depreciation, amort., depletion, $m
  226
  236
  243
  250
  258
  267
  276
  286
  296
  307
  318
  277
  290
  303
  317
  332
  348
  364
  382
  400
  419
  440
  461
  483
  507
  532
  558
  585
  614
  645
  676
Funds from operations, $m
  844
  752
  773
  796
  821
  847
  875
  904
  935
  968
  1,003
  1,026
  1,064
  1,105
  1,148
  1,194
  1,242
  1,292
  1,346
  1,402
  1,460
  1,522
  1,587
  1,656
  1,728
  1,804
  1,883
  1,967
  2,055
  2,147
  2,244
Change in working capital, $m
  138
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
Cash from operations, $m
  706
  755
  776
  800
  824
  851
  879
  908
  940
  973
  1,008
  1,031
  1,070
  1,111
  1,155
  1,200
  1,249
  1,300
  1,353
  1,409
  1,469
  1,531
  1,597
  1,666
  1,738
  1,814
  1,894
  1,979
  2,067
  2,160
  2,258
Maintenance CAPEX, $m
  0
  -177
  -183
  -190
  -197
  -205
  -214
  -223
  -232
  -243
  -253
  -265
  -277
  -290
  -303
  -317
  -332
  -348
  -364
  -382
  -400
  -419
  -440
  -461
  -483
  -507
  -532
  -558
  -585
  -614
  -645
New CAPEX, $m
  -236
  -33
  -38
  -40
  -43
  -46
  -49
  -52
  -55
  -58
  -62
  -65
  -69
  -72
  -76
  -81
  -85
  -89
  -94
  -99
  -104
  -110
  -115
  -121
  -128
  -134
  -141
  -148
  -156
  -164
  -172
Cash from investing activities, $m
  -741
  -210
  -221
  -230
  -240
  -251
  -263
  -275
  -287
  -301
  -315
  -330
  -346
  -362
  -379
  -398
  -417
  -437
  -458
  -481
  -504
  -529
  -555
  -582
  -611
  -641
  -673
  -706
  -741
  -778
  -817
Free cash flow, $m
  -35
  545
  556
  569
  584
  600
  616
  634
  652
  672
  693
  701
  724
  749
  775
  803
  832
  863
  895
  929
  964
  1,002
  1,042
  1,083
  1,127
  1,173
  1,222
  1,273
  1,326
  1,382
  1,441
Issuance/(repayment) of debt, $m
  184
  220
  239
  255
  272
  290
  308
  327
  347
  367
  388
  410
  433
  457
  482
  508
  535
  564
  594
  625
  658
  692
  728
  765
  805
  846
  889
  935
  982
  1,032
  1,085
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  
  108
  220
  239
  255
  272
  290
  308
  327
  347
  367
  388
  410
  433
  457
  482
  508
  535
  564
  594
  625
  658
  692
  728
  765
  805
  846
  889
  935
  982
  1,032
  1,085
Total cash flow (excl. dividends), $m
  19
  766
  794
  825
  856
  890
  924
  961
  999
  1,039
  1,081
  1,111
  1,158
  1,206
  1,257
  1,311
  1,367
  1,426
  1,489
  1,554
  1,622
  1,694
  1,770
  1,849
  1,932
  2,019
  2,111
  2,207
  2,308
  2,415
  2,526
Retained Cash Flow (-), $m
  -128
  -48
  -50
  -53
  -57
  -60
  -64
  -68
  -72
  -76
  -81
  -85
  -90
  -95
  -100
  -106
  -111
  -117
  -123
  -130
  -137
  -144
  -151
  -159
  -167
  -176
  -185
  -194
  -204
  -214
  -225
Prev. year cash balance distribution, $m
 
  1,879
  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
 
  2,597
  745
  772
  800
  829
  860
  893
  927
  963
  1,001
  1,026
  1,068
  1,111
  1,157
  1,205
  1,256
  1,309
  1,365
  1,424
  1,486
  1,550
  1,618
  1,690
  1,765
  1,844
  1,926
  2,013
  2,104
  2,200
  2,301
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
 
  2,490
  682
  672
  659
  643
  624
  603
  579
  553
  525
  487
  456
  423
  388
  354
  319
  285
  251
  219
  189
  160
  134
  111
  90
  72
  56
  43
  33
  24
  17
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

Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis. The Company is an integrated solutions provider for various industries, including oil and gas, chemicals and petrochemicals, mining and metals, transportation, power, life sciences and advanced manufacturing. It is also a service provider to the United States federal Government and governments abroad. It offers services in various categories, including engineering and design, procurement, construction, fabrication, maintenance, modification and asset integrity and project management.

FINANCIAL RATIOS  of  Fluor (FLR)

Valuation Ratios
P/E Ratio 29.9
Price to Sales 0.4
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 11.9
Price to Free Cash Flow 17.9
Growth Rates
Sales Growth Rate 5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.7%
Cap. Spend. - 3 Yr. Gr. Rate -3.9%
Financial Strength
Quick Ratio 24
Current Ratio 0.1
LT Debt to Equity 48.6%
Total Debt to Equity 51.2%
Interest Coverage 9
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 5.3%
Return On Total Capital 6.5%
Ret/ On T. Cap. - 3 Yr. Avg. 9.6%
Return On Equity 9.2%
Return On Equity - 3 Yr. Avg. 12.5%
Asset Turnover 2.3
Profitability Ratios
Gross Margin 4.1%
Gross Margin - 3 Yr. Avg. 5.6%
EBITDA Margin 4.4%
EBITDA Margin - 3 Yr. Avg. 5.4%
Operating Margin 2.9%
Oper. Margin - 3 Yr. Avg. 4.2%
Pre-Tax Margin 2.9%
Pre-Tax Margin - 3 Yr. Avg. 4.2%
Net Profit Margin 1.5%
Net Profit Margin - 3 Yr. Avg. 2%
Effective Tax Rate 40.2%
Eff/ Tax Rate - 3 Yr. Avg. 34.5%
Payout Ratio 42%

FLR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FLR stock intrinsic value calculation we used $19037 million for the last fiscal year's total revenue generated by Fluor. The default revenue input number comes from 2016 income statement of Fluor. 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 FLR stock valuation model: a) initial revenue growth rate of 3.7% 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 4.3%, whose default value for FLR is calculated based on our internal credit rating of Fluor, 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 Fluor.
    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 FLR stock the variable cost ratio is equal to 96%.

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 FLR 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 5.6% for Fluor.

Corporate tax rate of 27% is the nominal tax rate for Fluor. 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 FLR 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 FLR are equal to 5%.

Life of production assets of 5.4 years is the average useful life of capital assets used in Fluor 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 FLR is equal to -0.4%. 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 - $3125 million for Fluor - 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 140.174 million for Fluor 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 Fluor at the current share price and the inputted number of shares is $8.5 billion.

RELATED COMPANIES Price Int.Val. Rating
GVA Granite Constr 67.64 74.11  hold
KBR KBR 21.14 12.18  sell
ACM AECOM 39.21 296.09  str.buy
JEC Jacobs Enginee 69.95 50.45  sell
PWR Quanta Service 38.99 2.79  str.sell

COMPANY NEWS

▶ Fluor Completes Major Transmission Lines in Puerto Rico   [Jan-08-18 08:04AM  Business Wire]
▶ Fluor Earns IBD Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ 12 Largest Construction Companies in US in 2017   [Dec-13-17 10:41AM  Insider Monkey]
▶ Irving company awarded up to $831M to help rebuild Puerto Rico   [Dec-07-17 06:55PM  American City Business Journals]
▶ 9 Stocks That May Outperform In 2018   [Nov-30-17 01:05PM  Investopedia]
▶ Fluor Completes High Priority Power Line in Puerto Rico   [Nov-16-17 04:25PM  Business Wire]
▶ Fluor tops Street 3Q forecasts   [Nov-02-17 04:24PM  Associated Press]
▶ Fluor Reports Third Quarter Results   [04:15PM  Business Wire]
▶ Fluor Corporation to Host Earnings Call   [01:50PM  ACCESSWIRE]
▶ Fluor Corporation Announces Quarterly Dividend   [Nov-01-17 07:46PM  Business Wire]
▶ Fluor to Present at Baird Industrial Conference   [Oct-25-17 08:00AM  Business Wire]
▶ Fluor Named as Dual Finalist for 2017 Global Energy Awards   [Oct-04-17 04:15PM  Business Wire]
▶ Fluor Selected for Guam Base Area Support Services Contract   [Sep-27-17 04:17PM  Business Wire]
▶ Have Faith That Fluor Will Recover   [Sep-05-17 02:30PM  TheStreet.com]
Financial statements of FLR
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

ASSET ALLOCATION

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

Copyright © X-FIN.com 2005-2018. All rigths reserved.