Intrinsic value of Fogo de Chao - FOGO

Previous Close

$12.90

  Intrinsic Value

$53.00

stock screener

  Rating & Target

str. buy

+311%

  Value-price divergence*

+14%

Previous close

$12.90

 
Intrinsic value

$53.00

 
Up/down potential

+311%

 
Rating

str. buy

 
Value-price divergence*

+14%

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

We calculate the intrinsic value of FOGO 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 0.4

 

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, %
  5.88
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
Revenue, $m
  288
  317
  347
  379
  412
  447
  482
  520
  558
  599
  640
  684
  729
  776
  825
  875
  928
  984
  1,041
  1,101
  1,164
  1,229
  1,298
  1,369
  1,444
  1,522
  1,603
  1,689
  1,778
  1,872
  1,970
Variable operating expenses, $m
 
  56
  60
  63
  67
  71
  75
  79
  83
  87
  92
  76
  81
  86
  91
  97
  103
  109
  115
  122
  129
  136
  144
  152
  160
  168
  178
  187
  197
  207
  218
Fixed operating expenses, $m
 
  209
  214
  220
  225
  231
  237
  242
  249
  255
  261
  268
  274
  281
  288
  295
  303
  310
  318
  326
  334
  343
  351
  360
  369
  378
  388
  397
  407
  417
  428
Total operating expenses, $m
  250
  265
  274
  283
  292
  302
  312
  321
  332
  342
  353
  344
  355
  367
  379
  392
  406
  419
  433
  448
  463
  479
  495
  512
  529
  546
  566
  584
  604
  624
  646
Operating income, $m
  38
  52
  74
  96
  120
  145
  171
  199
  227
  256
  287
  340
  374
  409
  445
  483
  523
  564
  608
  653
  701
  750
  803
  857
  915
  975
  1,038
  1,104
  1,174
  1,247
  1,324
EBITDA, $m
  53
  82
  104
  128
  153
  179
  206
  234
  264
  294
  326
  360
  394
  430
  468
  508
  549
  592
  637
  684
  733
  785
  839
  896
  955
  1,018
  1,083
  1,152
  1,224
  1,300
  1,379
Interest expense (income), $m
  4
  5
  6
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  18
  19
  20
  22
  23
  25
  26
  28
  30
  32
  34
  36
  38
  40
  42
  44
  47
  50
Earnings before tax, $m
  36
  47
  68
  90
  113
  137
  162
  188
  215
  244
  273
  325
  357
  391
  426
  463
  501
  541
  583
  627
  673
  721
  771
  824
  879
  937
  998
  1,062
  1,129
  1,200
  1,274
Tax expense, $m
  12
  13
  18
  24
  30
  37
  44
  51
  58
  66
  74
  88
  97
  106
  115
  125
  135
  146
  157
  169
  182
  195
  208
  222
  237
  253
  270
  287
  305
  324
  344
Net income, $m
  24
  34
  49
  65
  82
  100
  118
  137
  157
  178
  199
  237
  261
  285
  311
  338
  366
  395
  426
  458
  491
  526
  563
  601
  642
  684
  729
  775
  825
  876
  930

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  31
  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
  522
  540
  592
  646
  702
  761
  822
  885
  951
  1,020
  1,091
  1,165
  1,242
  1,322
  1,405
  1,491
  1,582
  1,676
  1,774
  1,876
  1,983
  2,094
  2,210
  2,332
  2,459
  2,592
  2,731
  2,877
  3,029
  3,189
  3,356
Adjusted assets (=assets-cash), $m
  491
  540
  592
  646
  702
  761
  822
  885
  951
  1,020
  1,091
  1,165
  1,242
  1,322
  1,405
  1,491
  1,582
  1,676
  1,774
  1,876
  1,983
  2,094
  2,210
  2,332
  2,459
  2,592
  2,731
  2,877
  3,029
  3,189
  3,356
Revenue / Adjusted assets
  0.587
  0.587
  0.586
  0.587
  0.587
  0.587
  0.586
  0.588
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
  0.587
Average production assets, $m
  244
  268
  294
  320
  348
  377
  408
  439
  472
  506
  541
  578
  616
  655
  697
  740
  784
  831
  880
  930
  983
  1,039
  1,096
  1,157
  1,220
  1,286
  1,355
  1,427
  1,503
  1,582
  1,665
Working capital, $m
  15
  -18
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -38
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -62
  -65
  -69
  -73
  -77
  -81
  -85
  -90
  -95
  -100
  -105
  -110
Total debt, $m
  150
  173
  197
  223
  249
  277
  305
  335
  366
  398
  432
  466
  503
  540
  579
  620
  662
  707
  753
  801
  851
  903
  958
  1,015
  1,075
  1,137
  1,203
  1,271
  1,343
  1,418
  1,496
Total liabilities, $m
  232
  254
  278
  304
  330
  358
  386
  416
  447
  479
  513
  547
  584
  621
  660
  701
  743
  788
  834
  882
  932
  984
  1,039
  1,096
  1,156
  1,218
  1,284
  1,352
  1,424
  1,499
  1,577
Total equity, $m
  291
  286
  314
  342
  372
  403
  436
  469
  504
  540
  578
  617
  658
  700
  745
  790
  838
  888
  940
  994
  1,051
  1,110
  1,172
  1,236
  1,303
  1,374
  1,448
  1,525
  1,605
  1,690
  1,779
Total liabilities and equity, $m
  523
  540
  592
  646
  702
  761
  822
  885
  951
  1,019
  1,091
  1,164
  1,242
  1,321
  1,405
  1,491
  1,581
  1,676
  1,774
  1,876
  1,983
  2,094
  2,211
  2,332
  2,459
  2,592
  2,732
  2,877
  3,029
  3,189
  3,356
Debt-to-equity ratio
  0.515
  0.600
  0.630
  0.650
  0.670
  0.690
  0.700
  0.710
  0.730
  0.740
  0.750
  0.760
  0.760
  0.770
  0.780
  0.780
  0.790
  0.800
  0.800
  0.810
  0.810
  0.810
  0.820
  0.820
  0.820
  0.830
  0.830
  0.830
  0.840
  0.840
  0.840
Adjusted equity ratio
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  24
  34
  49
  65
  82
  100
  118
  137
  157
  178
  199
  237
  261
  285
  311
  338
  366
  395
  426
  458
  491
  526
  563
  601
  642
  684
  729
  775
  825
  876
  930
Depreciation, amort., depletion, $m
  15
  30
  31
  32
  33
  34
  35
  36
  37
  38
  39
  19
  21
  22
  23
  25
  26
  28
  29
  31
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  55
Funds from operations, $m
  62
  64
  80
  97
  115
  133
  153
  173
  194
  216
  239
  257
  281
  307
  334
  362
  392
  423
  455
  489
  524
  561
  599
  640
  682
  727
  774
  823
  875
  929
  986
Change in working capital, $m
  6
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
Cash from operations, $m
  56
  66
  82
  99
  117
  135
  155
  175
  196
  218
  241
  259
  284
  310
  337
  365
  395
  426
  458
  492
  527
  564
  603
  644
  687
  731
  778
  828
  880
  934
  991
Maintenance CAPEX, $m
  0
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -48
  -50
  -53
New CAPEX, $m
  -38
  -24
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -76
  -79
  -83
Cash from investing activities, $m
  -38
  -32
  -35
  -37
  -39
  -41
  -43
  -45
  -48
  -50
  -52
  -55
  -57
  -61
  -63
  -66
  -70
  -73
  -77
  -80
  -84
  -88
  -93
  -97
  -102
  -107
  -112
  -117
  -124
  -129
  -136
Free cash flow, $m
  18
  33
  47
  62
  78
  95
  112
  130
  149
  168
  189
  204
  227
  250
  274
  299
  325
  353
  382
  412
  443
  476
  511
  547
  585
  625
  667
  710
  756
  805
  856
Issuance/(repayment) of debt, $m
  -15
  23
  24
  25
  26
  28
  29
  30
  31
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  68
  72
  75
  79
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  
  -14
  23
  24
  25
  26
  28
  29
  30
  31
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  68
  72
  75
  79
Total cash flow (excl. dividends), $m
  6
  56
  72
  88
  105
  122
  141
  160
  180
  201
  222
  239
  263
  287
  313
  340
  368
  397
  428
  460
  494
  529
  566
  604
  645
  687
  732
  779
  828
  880
  934
Retained Cash Flow (-), $m
  -40
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -62
  -64
  -67
  -70
  -74
  -77
  -81
  -85
  -89
Prev. year cash balance distribution, $m
 
  31
  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
 
  61
  44
  59
  75
  91
  108
  126
  145
  164
  185
  200
  222
  245
  269
  294
  320
  347
  376
  406
  437
  470
  504
  540
  577
  617
  658
  702
  747
  795
  846
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  58
  40
  50
  59
  67
  74
  79
  83
  85
  86
  83
  81
  78
  74
  69
  64
  58
  51
  45
  39
  33
  27
  22
  18
  14
  10
  8
  6
  4
  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

Fogo de Chao, Inc. owns and operates full-service Brazilian steakhouses under the Fogo de Chão brand name in the United States and Brazil. The company’s restaurants offer beef, lamb, chicken, pork, and seafood items, as well as liquor, beer, and wine. As of July 3, 2016, it operated 31 restaurants in the United States, 10 restaurants in Brazil, and 1 joint venture restaurant in Mexico. The company was formerly known as Brasa (Parent) Inc. and changed its name to Fogo de Chao, Inc. in December 2014. Fogo de Chao, Inc. was founded in 1975 and is headquartered in Dallas, Texas.

FINANCIAL RATIOS  of  Fogo de Chao (FOGO)

Valuation Ratios
P/E Ratio 15.2
Price to Sales 1.3
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 6.5
Price to Free Cash Flow 20.2
Growth Rates
Sales Growth Rate 5.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.6%
Cap. Spend. - 3 Yr. Gr. Rate 4.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 51.5%
Total Debt to Equity 51.5%
Interest Coverage 10
Management Effectiveness
Return On Assets 5.3%
Ret/ On Assets - 3 Yr. Avg. 7.6%
Return On Total Capital 5.6%
Ret/ On T. Cap. - 3 Yr. Avg. 5.7%
Return On Equity 8.9%
Return On Equity - 3 Yr. Avg. 11.5%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 48.6%
Gross Margin - 3 Yr. Avg. 48.7%
EBITDA Margin 19.1%
EBITDA Margin - 3 Yr. Avg. 17.8%
Operating Margin 13.2%
Oper. Margin - 3 Yr. Avg. 12.4%
Pre-Tax Margin 12.5%
Pre-Tax Margin - 3 Yr. Avg. 8.9%
Net Profit Margin 8.3%
Net Profit Margin - 3 Yr. Avg. 8.5%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. -12.5%
Payout Ratio 0%

FOGO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FOGO stock intrinsic value calculation we used $288 million for the last fiscal year's total revenue generated by Fogo de Chao. The default revenue input number comes from 2017 income statement of Fogo de Chao. 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 FOGO stock valuation model: a) initial revenue growth rate of 10.1% 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 5.1%, whose default value for FOGO is calculated based on our internal credit rating of Fogo de Chao, 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 Fogo de Chao.
    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 FOGO stock the variable cost ratio is equal to 18.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $204 million in the base year in the intrinsic value calculation for FOGO 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 Fogo de Chao.

Corporate tax rate of 27% is the nominal tax rate for Fogo de Chao. 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 FOGO 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 FOGO are equal to 84.5%.

Life of production assets of 30.1 years is the average useful life of capital assets used in Fogo de Chao 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 FOGO is equal to -5.6%. 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 - $291 million for Fogo de Chao - 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 27.827 million for Fogo de Chao 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 Fogo de Chao at the current share price and the inputted number of shares is $0.4 billion.

RELATED COMPANIES Price Int.Val. Rating
RUTH Ruth's Hos 19.90 19.85  hold
DFRG Del Frisco' 14.60 9.39  sell
JAX J. Alexander&# 9.80 2.20  str.sell
STKS ONE Group Hosp 1.77 0.08  str.sell
DRI Darden Restaur 84.13 25.54  str.sell
BLMN Bloomin' B 17.60 12.10  sell
ARKR ARK Restaurant 23.30 28.80  hold
RRGB Red Robin Gour 59.40 32.95  sell
DENN Denny's 12.19 1.44  str.sell

COMPANY NEWS

▶ 2 Stocks That Could Offer Value for Shareholders   [Aug-14-17 09:00AM  TheStreet.com]
▶ Fogo de Chão Opens First Middle East Location   [Aug-09-17 03:00PM  GlobeNewswire]
▶ Fogo de Chao misses 2Q profit forecasts   [Aug-08-17 10:39PM  Associated Press]
▶ 3 Stocks Billionaires Can't Buy but You Can   [Aug-05-17 11:32AM  Motley Fool]
▶ New Strong Sell Stocks for July 27th   [Jul-27-17 07:38AM  Zacks]
▶ Fogo de Chao wraps up revamp of its downtown Minneapolis restaurant   [Jun-20-17 02:26PM  American City Business Journals]
▶ ETFs with exposure to Fogo de Chão, Inc. : June 6, 2017   [Jun-06-17 11:42AM  Capital Cube]
▶ Fogo de Chão Completes Renovation of Minneapolis Location   [Jun-01-17 03:17PM  GlobeNewswire]
▶ [$$] Going Out for Lunch Is a Dying Tradition   [May-31-17 12:07AM  The Wall Street Journal]
▶ [$$] Going Out for Lunch Is a Dying Tradition   [May-30-17 02:19PM  The Wall Street Journal]
▶ Top Ranked Value Stocks to Buy for May 23rd   [May-23-17 10:13AM  Zacks]
▶ ETFs with exposure to Fogo de Chão, Inc. : May 16, 2017   [May-16-17 12:52PM  Capital Cube]
▶ Fogo de Chao meets 1Q profit forecasts   [May-08-17 05:36PM  Associated Press]
▶ ETFs with exposure to Fogo de Chão, Inc. : April 5, 2017   [Apr-05-17 04:46PM  Capital Cube]
▶ After-hours buzz: FOGO, TWNK, DSW   [Mar-14-17 06:02PM  CNBC]
▶ Fogo de Chao beats Street 4Q forecasts   [04:14PM  Associated Press]
▶ Fogo de Chão Opens Second Dallas-Area Location in Uptown   [Feb-17-17 10:33AM  GlobeNewswire]
▶ Is Consolidated-Tomoka Land Co. (CTO) a Good Stock to Invest in?   [Dec-14-16 11:42AM  at Insider Monkey]
▶ Why Fogo de Chao Inc Stock Jumped 17% in November   [Dec-10-16 02:34PM  at Motley Fool]
▶ 3 Small-Cap Stocks to Buy in November   [Nov-03-16 12:40PM  at Motley Fool]
▶ Renovations coming to Minneapolis Fogo De Chao   [Oct-26-16 04:30PM  at bizjournals.com]
▶ Why Fogo de Chao Inc Stock Dropped 14% Last Month   [Oct-08-16 11:46AM  at Motley Fool]
▶ Fogo de Chão Debuts New Fall Seasonal Menu   [Sep-08-16 11:05AM  GlobeNewswire]
Stock chart of FOGO Financial statements of FOGO
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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