Intrinsic value of General Electric - GE

Previous Close

$13.12

  Intrinsic Value

$1.54

stock screener

  Rating & Target

str. sell

-88%

Previous close

$13.12

 
Intrinsic value

$1.54

 
Up/down potential

-88%

 
Rating

str. sell

We calculate the intrinsic value of GE 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, %
  5.37
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  123,692
  124,534
  127,398
  130,672
  134,348
  138,421
  142,890
  147,756
  153,024
  158,699
  164,790
  171,305
  178,258
  185,660
  193,528
  201,876
  210,723
  220,087
  229,991
  240,455
  251,503
  263,161
  275,455
  288,414
  302,068
  316,448
  331,589
  347,526
  364,296
  381,939
  400,496
Variable operating expenses, $m
 
  110,307
  112,809
  115,669
  118,880
  122,438
  126,342
  130,594
  135,195
  140,153
  145,474
  149,650
  155,724
  162,191
  169,064
  176,357
  184,085
  192,266
  200,917
  210,058
  219,710
  229,894
  240,634
  251,955
  263,883
  276,446
  289,673
  303,595
  318,245
  333,657
  349,869
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
  113,427
  110,307
  112,809
  115,669
  118,880
  122,438
  126,342
  130,594
  135,195
  140,153
  145,474
  149,650
  155,724
  162,191
  169,064
  176,357
  184,085
  192,266
  200,917
  210,058
  219,710
  229,894
  240,634
  251,955
  263,883
  276,446
  289,673
  303,595
  318,245
  333,657
  349,869
Operating income, $m
  10,265
  14,227
  14,589
  15,003
  15,468
  15,983
  16,548
  17,163
  17,829
  18,546
  19,316
  21,655
  22,534
  23,470
  24,464
  25,519
  26,638
  27,822
  29,073
  30,396
  31,793
  33,266
  34,821
  36,459
  38,185
  40,003
  41,917
  43,931
  46,051
  48,281
  50,627
EBITDA, $m
  15,262
  55,145
  56,413
  57,863
  59,491
  61,294
  63,273
  65,428
  67,761
  70,274
  72,971
  75,856
  78,935
  82,213
  85,696
  89,393
  93,310
  97,457
  101,842
  106,476
  111,368
  116,530
  121,975
  127,713
  133,759
  140,127
  146,831
  153,888
  161,314
  169,127
  177,344
Interest expense (income), $m
  5,779
  6,212
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
  4,527
Earnings before tax, $m
  9,030
  8,016
  10,062
  10,476
  10,940
  11,455
  12,020
  12,635
  13,301
  14,019
  14,789
  17,127
  18,006
  18,942
  19,937
  20,992
  22,110
  23,294
  24,546
  25,869
  27,265
  28,739
  30,293
  31,931
  33,657
  35,475
  37,389
  39,404
  41,524
  43,754
  46,100
Tax expense, $m
  -464
  2,164
  2,717
  2,828
  2,954
  3,093
  3,245
  3,412
  3,591
  3,785
  3,993
  4,624
  4,862
  5,114
  5,383
  5,668
  5,970
  6,289
  6,627
  6,985
  7,362
  7,760
  8,179
  8,621
  9,087
  9,578
  10,095
  10,639
  11,211
  11,814
  12,447
Net income, $m
  8,831
  5,851
  7,345
  7,647
  7,986
  8,362
  8,775
  9,224
  9,710
  10,234
  10,796
  12,503
  13,145
  13,828
  14,554
  15,324
  16,140
  17,005
  17,919
  18,884
  19,904
  20,979
  22,114
  23,310
  24,570
  25,897
  27,294
  28,765
  30,312
  31,940
  33,653

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  48,129
  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
  365,183
  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
Adjusted assets (=assets-cash), $m
  317,054
  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
Revenue / Adjusted assets
  0.390
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Average production assets, $m
  69,423
  394,025
  403,088
  413,447
  425,077
  437,964
  452,104
  467,501
  484,168
  502,124
  521,394
  542,010
  564,008
  587,430
  612,322
  638,735
  666,727
  696,357
  727,691
  760,798
  795,755
  832,641
  871,539
  912,542
  955,742
  1,001,242
  1,049,148
  1,099,572
  1,152,632
  1,208,454
  1,267,169
Working capital, $m
  0
  -192,031
  -196,448
  -201,497
  -207,165
  -213,445
  -220,336
  -227,840
  -235,963
  -244,714
  -254,106
  -264,153
  -274,874
  -286,288
  -298,420
  -311,293
  -324,934
  -339,375
  -354,646
  -370,781
  -387,817
  -405,794
  -424,751
  -444,734
  -465,788
  -487,963
  -511,310
  -535,885
  -561,744
  -588,950
  -617,565
Total debt, $m
  136,211
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
  38,696
Total liabilities, $m
  289,356
  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 equity, $m
  75,827
  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 liabilities and equity, $m
  365,183
  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
Debt-to-equity ratio
  1.796
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.110
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  8,831
  5,851
  7,345
  7,647
  7,986
  8,362
  8,775
  9,224
  9,710
  10,234
  10,796
  12,503
  13,145
  13,828
  14,554
  15,324
  16,140
  17,005
  17,919
  18,884
  19,904
  20,979
  22,114
  23,310
  24,570
  25,897
  27,294
  28,765
  30,312
  31,940
  33,653
Depreciation, amort., depletion, $m
  4,997
  40,918
  41,824
  42,860
  44,023
  45,312
  46,726
  48,265
  49,932
  51,728
  53,655
  54,201
  56,401
  58,743
  61,232
  63,874
  66,673
  69,636
  72,769
  76,080
  79,576
  83,264
  87,154
  91,254
  95,574
  100,124
  104,915
  109,957
  115,263
  120,845
  126,717
Funds from operations, $m
  -9,741
  46,769
  49,169
  50,507
  52,009
  53,674
  55,500
  57,489
  59,642
  61,961
  64,450
  66,704
  69,545
  72,571
  75,786
  79,198
  82,813
  86,640
  90,688
  94,964
  99,479
  104,244
  109,268
  114,564
  120,144
  126,021
  132,209
  138,722
  145,575
  152,786
  160,370
Change in working capital, $m
  -9,497
  -3,765
  -4,417
  -5,049
  -5,668
  -6,281
  -6,891
  -7,504
  -8,123
  -8,751
  -9,391
  -10,047
  -10,721
  -11,415
  -12,131
  -12,873
  -13,642
  -14,440
  -15,271
  -16,135
  -17,036
  -17,976
  -18,958
  -19,983
  -21,054
  -22,175
  -23,347
  -24,574
  -25,859
  -27,205
  -28,615
Cash from operations, $m
  -244
  50,534
  53,586
  55,556
  57,678
  59,955
  62,392
  64,993
  67,765
  70,712
  73,842
  76,751
  80,266
  83,985
  87,917
  92,071
  96,455
  101,081
  105,958
  111,099
  116,516
  122,220
  128,226
  134,547
  141,198
  148,196
  155,556
  163,296
  171,435
  179,991
  188,985
Maintenance CAPEX, $m
  0
  -38,636
  -39,403
  -40,309
  -41,345
  -42,508
  -43,796
  -45,210
  -46,750
  -48,417
  -50,212
  -52,139
  -54,201
  -56,401
  -58,743
  -61,232
  -63,874
  -66,673
  -69,636
  -72,769
  -76,080
  -79,576
  -83,264
  -87,154
  -91,254
  -95,574
  -100,124
  -104,915
  -109,957
  -115,263
  -120,845
New CAPEX, $m
  -7,199
  -7,667
  -9,063
  -10,359
  -11,630
  -12,887
  -14,140
  -15,397
  -16,667
  -17,956
  -19,270
  -20,616
  -21,998
  -23,422
  -24,892
  -26,414
  -27,991
  -29,630
  -31,334
  -33,108
  -34,957
  -36,885
  -38,899
  -41,002
  -43,201
  -45,500
  -47,906
  -50,424
  -53,060
  -55,822
  -58,715
Cash from investing activities, $m
  49,202
  -46,303
  -48,466
  -50,668
  -52,975
  -55,395
  -57,936
  -60,607
  -63,417
  -66,373
  -69,482
  -72,755
  -76,199
  -79,823
  -83,635
  -87,646
  -91,865
  -96,303
  -100,970
  -105,877
  -111,037
  -116,461
  -122,163
  -128,156
  -134,455
  -141,074
  -148,030
  -155,339
  -163,017
  -171,085
  -179,560
Free cash flow, $m
  48,958
  4,232
  5,121
  4,888
  4,703
  4,560
  4,455
  4,386
  4,348
  4,340
  4,359
  3,996
  4,067
  4,163
  4,282
  4,425
  4,590
  4,778
  4,989
  5,222
  5,479
  5,759
  6,063
  6,391
  6,743
  7,122
  7,526
  7,958
  8,417
  8,906
  9,424
Issuance/(repayment) of debt, $m
  -58,411
  -14,395
  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
Issuance/(repurchase) of shares, $m
  -21,429
  8,544
  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  
  -80,325
  -5,851
  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 cash flow (excl. dividends), $m
  -32,513
  -1,620
  5,121
  4,888
  4,703
  4,560
  4,455
  4,386
  4,348
  4,340
  4,359
  3,996
  4,067
  4,163
  4,282
  4,425
  4,590
  4,778
  4,989
  5,222
  5,479
  5,759
  6,063
  6,391
  6,743
  7,122
  7,526
  7,958
  8,417
  8,906
  9,424
Retained Cash Flow (-), $m
  22,446
  -14,395
  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
Prev. year cash balance distribution, $m
 
  14,395
  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
 
  -1,620
  5,121
  4,888
  4,703
  4,560
  4,455
  4,386
  4,348
  4,340
  4,359
  3,996
  4,067
  4,163
  4,282
  4,425
  4,590
  4,778
  4,989
  5,222
  5,479
  5,759
  6,063
  6,391
  6,743
  7,122
  7,526
  7,958
  8,417
  8,906
  9,424
Discount rate, %
 
  8.30
  8.72
  9.15
  9.61
  10.09
  10.59
  11.12
  11.68
  12.26
  12.88
  13.52
  14.20
  14.91
  15.65
  16.43
  17.26
  18.12
  19.02
  19.97
  20.97
  22.02
  23.12
  24.28
  25.49
  26.77
  28.11
  29.51
  30.99
  32.54
  34.16
PV of cash for distribution, $m
 
  -1,496
  4,333
  3,759
  3,258
  2,820
  2,435
  2,096
  1,797
  1,532
  1,298
  990
  827
  684
  559
  452
  360
  282
  217
  164
  122
  88
  62
  43
  29
  19
  12
  7
  4
  3
  1
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

General Electric Company is a global digital industrial company. The Company's products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

FINANCIAL RATIOS  of  General Electric (GE)

Valuation Ratios
P/E Ratio 13
Price to Sales 0.9
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow -470.1
Price to Free Cash Flow -15.4
Growth Rates
Sales Growth Rate 5.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.5%
Cap. Spend. - 3 Yr. Gr. Rate 1.3%
Financial Strength
Quick Ratio 2
Current Ratio NaN
LT Debt to Equity 139.1%
Total Debt to Equity 179.6%
Interest Coverage 3
Management Effectiveness
Return On Assets 3.5%
Ret/ On Assets - 3 Yr. Avg. 2.1%
Return On Total Capital 3.5%
Ret/ On T. Cap. - 3 Yr. Avg. 1.7%
Return On Equity 10.1%
Return On Equity - 3 Yr. Avg. 5.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 26.2%
Gross Margin - 3 Yr. Avg. 27%
EBITDA Margin 16%
EBITDA Margin - 3 Yr. Avg. 18.6%
Operating Margin 8.3%
Oper. Margin - 3 Yr. Avg. 8.6%
Pre-Tax Margin 7.3%
Pre-Tax Margin - 3 Yr. Avg. 7.7%
Net Profit Margin 7.1%
Net Profit Margin - 3 Yr. Avg. 5%
Effective Tax Rate -5.1%
Eff/ Tax Rate - 3 Yr. Avg. 27.2%
Payout Ratio 99.7%

GE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GE stock intrinsic value calculation we used $122092 million for the last fiscal year's total revenue generated by General Electric. The default revenue input number comes from 2016 income statement of General Electric. 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 GE stock valuation model: a) initial revenue growth rate of 2% 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 8.3%, whose default value for GE is calculated based on our internal credit rating of General Electric, 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 General Electric.
    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 GE stock the variable cost ratio is equal to 88.6%.

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 GE 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 11.7% for General Electric.

Corporate tax rate of 27% is the nominal tax rate for General Electric. 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 GE 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 GE are equal to 316.4%.

Life of production assets of 10 years is the average useful life of capital assets used in General Electric 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 GE is equal to -154.2%. 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 - $0 million for General Electric - 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 8672 million for General Electric 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 General Electric at the current share price and the inputted number of shares is $113.8 billion.

Articles on GE

What is next for GE?

GE should put emphasis on innovation and development of new wonderful products. This is the only recipe for the company’s revival. Selling its business units will only lead to further decline.  [October 22, 2017]  read article

Sell GE before it is really too late

GE share price is just a reflection of the company’s former CEO pathetic performance. In substance, things are not going to change under his successor. It is all about the culture of “appearance first” and self-praise.  [June 16, 2017]  read article

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COMPANY NEWS

▶ Longtime Supporter Argus Downgrades GE on 'Bleak' Outlook   [Jul-23-18 09:43AM  TheStreet.com]
▶ [$$] GE Will Be Dead Money for a While   [Jul-20-18 07:24PM  The Wall Street Journal]
▶ [$$] GE's Profit Falls as Power Division Remains a Drag   [07:24PM  The Wall Street Journal]
▶ What Happened in the Stock Market Today   [05:21PM  Motley Fool]
▶ Stocks End Close to Home   [04:04PM  TheStreet.com]
▶ [$$] GE's Profit Falls as Power Division Remains a Drag   [01:42PM  The Wall Street Journal]
▶ The Late Morning Rundown: July 20, 2018   [11:58AM  CNBC Videos]
▶ Power helps drive GE profit down 30 percent   [11:55AM  Reuters Videos]
▶ Earnings Data Deluge   [10:42AM  Zacks]
▶ GE set to open slightly up after earnings   [09:10AM  CNBC Videos]
▶ GE earningsNo more drama, please   [03:47AM  MarketWatch]
▶ GE is a 'classic fallen angel': Expert   [06:24PM  CNBC Videos]
▶ Power dims at GE headquarters amid global restructuring   [04:20PM  American City Business Journals]
▶ General Electric Q2 Earnings Preview   [02:56PM  Benzinga]
▶ Massachusetts is home to 5 of the worlds largest 500 companies   [12:59PM  American City Business Journals]
▶ GE Aviation and Teradata Expand Partnership   [11:44AM  Business Wire]
▶ Boeing inks massive deal in Asia with $12.7B order   [10:58AM  American City Business Journals]
▶ GE Bulls Just Won't Quit   [10:38AM  Barrons.com]
▶ [$$] What Trade Spat? Airfreight Is Booming Again, Despite Global Tensions   [Jul-17-18 10:49PM  The Wall Street Journal]
▶ [$$] GE Still Wrestles With a Big Problem   [08:11PM  The Wall Street Journal]
▶ IBM: The Grey Gardens of Technology Stocks   [02:15PM  InvestorPlace]
▶ [$$] What Trade Spat? Airfreight Is Booming Again   [01:41PM  The Wall Street Journal]
▶ [$$] GE Still Wrestles With a Big Problem: GE Capital   [01:32PM  The Wall Street Journal]
Financial statements of GE
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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