Intrinsic value of GasLog - GLOG

Previous Close

$17.10

  Intrinsic Value

$2.86

stock screener

  Rating & Target

str. sell

-83%

  Value-price divergence*

-74%

Previous close

$17.10

 
Intrinsic value

$2.86

 
Up/down potential

-83%

 
Rating

str. sell

 
Value-price divergence*

-74%

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

We calculate the intrinsic value of GLOG 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 1.4

 

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, %
  12.29
  12.30
  11.57
  10.91
  10.32
  9.79
  9.31
  8.88
  8.49
  8.14
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
  6.50
  6.35
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
Revenue, $m
  466
  523
  584
  648
  714
  784
  857
  934
  1,013
  1,095
  1,181
  1,270
  1,363
  1,459
  1,559
  1,663
  1,771
  1,884
  2,001
  2,123
  2,250
  2,382
  2,520
  2,664
  2,815
  2,972
  3,136
  3,308
  3,487
  3,675
  3,871
Variable operating expenses, $m
 
  318
  354
  393
  433
  475
  520
  566
  614
  663
  715
  768
  824
  882
  943
  1,006
  1,071
  1,139
  1,210
  1,284
  1,361
  1,441
  1,524
  1,612
  1,703
  1,798
  1,897
  2,001
  2,109
  2,223
  2,342
Fixed operating expenses, $m
 
  9
  9
  10
  10
  10
  10
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  17
  17
  18
  18
  18
  19
Total operating expenses, $m
  292
  327
  363
  403
  443
  485
  530
  577
  625
  674
  727
  780
  836
  894
  956
  1,019
  1,084
  1,153
  1,224
  1,298
  1,376
  1,456
  1,539
  1,628
  1,719
  1,815
  1,914
  2,019
  2,127
  2,241
  2,361
Operating income, $m
  175
  197
  220
  245
  271
  299
  327
  357
  388
  421
  454
  490
  526
  564
  603
  644
  686
  731
  777
  824
  874
  926
  980
  1,037
  1,096
  1,158
  1,222
  1,290
  1,360
  1,434
  1,511
EBITDA, $m
  298
  339
  379
  421
  466
  512
  560
  611
  663
  718
  775
  834
  895
  959
  1,025
  1,094
  1,166
  1,240
  1,318
  1,399
  1,483
  1,571
  1,662
  1,758
  1,858
  1,962
  2,071
  2,185
  2,304
  2,428
  2,558
Interest expense (income), $m
  79
  95
  110
  125
  141
  158
  176
  195
  215
  235
  256
  278
  301
  324
  349
  375
  401
  429
  458
  488
  519
  551
  585
  621
  657
  696
  736
  778
  822
  868
  916
Earnings before tax, $m
  28
  101
  111
  120
  130
  140
  151
  162
  174
  186
  198
  212
  226
  240
  254
  270
  285
  302
  319
  337
  355
  375
  395
  416
  439
  462
  486
  511
  538
  566
  595
Tax expense, $m
  0
  27
  30
  32
  35
  38
  41
  44
  47
  50
  54
  57
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101
  107
  112
  118
  125
  131
  138
  145
  153
  161
Net income, $m
  -21
  74
  81
  88
  95
  102
  110
  118
  127
  136
  145
  155
  165
  175
  186
  197
  208
  220
  233
  246
  259
  274
  288
  304
  320
  337
  355
  373
  393
  413
  434

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  244
  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
  4,515
  4,801
  5,357
  5,941
  6,554
  7,196
  7,866
  8,564
  9,292
  10,048
  10,835
  11,652
  12,502
  13,385
  14,302
  15,256
  16,249
  17,281
  18,355
  19,474
  20,640
  21,855
  23,122
  24,445
  25,825
  27,267
  28,773
  30,347
  31,993
  33,715
  35,517
Adjusted assets (=assets-cash), $m
  4,271
  4,801
  5,357
  5,941
  6,554
  7,196
  7,866
  8,564
  9,292
  10,048
  10,835
  11,652
  12,502
  13,385
  14,302
  15,256
  16,249
  17,281
  18,355
  19,474
  20,640
  21,855
  23,122
  24,445
  25,825
  27,267
  28,773
  30,347
  31,993
  33,715
  35,517
Revenue / Adjusted assets
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
Average production assets, $m
  3,783
  4,248
  4,739
  5,256
  5,799
  6,367
  6,959
  7,577
  8,221
  8,890
  9,586
  10,309
  11,061
  11,842
  12,654
  13,498
  14,376
  15,289
  16,240
  17,230
  18,261
  19,336
  20,457
  21,627
  22,849
  24,124
  25,457
  26,850
  28,306
  29,830
  31,424
Working capital, $m
  7
  -52
  -58
  -65
  -71
  -78
  -86
  -93
  -101
  -110
  -118
  -127
  -136
  -146
  -156
  -166
  -177
  -188
  -200
  -212
  -225
  -238
  -252
  -266
  -281
  -297
  -314
  -331
  -349
  -367
  -387
Total debt, $m
  2,872
  3,129
  3,572
  4,038
  4,527
  5,038
  5,572
  6,129
  6,708
  7,311
  7,938
  8,590
  9,267
  9,971
  10,702
  11,462
  12,253
  13,076
  13,932
  14,824
  15,753
  16,721
  17,731
  18,785
  19,885
  21,034
  22,235
  23,490
  24,802
  26,174
  27,610
Total liabilities, $m
  3,570
  3,826
  4,269
  4,735
  5,224
  5,735
  6,269
  6,826
  7,405
  8,008
  8,635
  9,287
  9,964
  10,668
  11,399
  12,159
  12,950
  13,773
  14,629
  15,521
  16,450
  17,418
  18,428
  19,482
  20,582
  21,731
  22,932
  24,187
  25,499
  26,871
  28,307
Total equity, $m
  946
  975
  1,087
  1,206
  1,331
  1,461
  1,597
  1,739
  1,886
  2,040
  2,199
  2,365
  2,538
  2,717
  2,903
  3,097
  3,298
  3,508
  3,726
  3,953
  4,190
  4,437
  4,694
  4,962
  5,242
  5,535
  5,841
  6,160
  6,495
  6,844
  7,210
Total liabilities and equity, $m
  4,516
  4,801
  5,356
  5,941
  6,555
  7,196
  7,866
  8,565
  9,291
  10,048
  10,834
  11,652
  12,502
  13,385
  14,302
  15,256
  16,248
  17,281
  18,355
  19,474
  20,640
  21,855
  23,122
  24,444
  25,824
  27,266
  28,773
  30,347
  31,994
  33,715
  35,517
Debt-to-equity ratio
  3.036
  3.210
  3.290
  3.350
  3.400
  3.450
  3.490
  3.530
  3.560
  3.580
  3.610
  3.630
  3.650
  3.670
  3.690
  3.700
  3.710
  3.730
  3.740
  3.750
  3.760
  3.770
  3.780
  3.790
  3.790
  3.800
  3.810
  3.810
  3.820
  3.820
  3.830
Adjusted equity ratio
  0.164
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203
  0.203

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -21
  74
  81
  88
  95
  102
  110
  118
  127
  136
  145
  155
  165
  175
  186
  197
  208
  220
  233
  246
  259
  274
  288
  304
  320
  337
  355
  373
  393
  413
  434
Depreciation, amort., depletion, $m
  123
  143
  159
  176
  194
  213
  233
  254
  275
  297
  321
  344
  369
  395
  422
  450
  479
  510
  541
  574
  609
  645
  682
  721
  762
  804
  849
  895
  944
  994
  1,047
Funds from operations, $m
  217
  217
  240
  264
  289
  316
  343
  372
  402
  433
  465
  499
  533
  570
  607
  647
  687
  730
  774
  820
  868
  918
  970
  1,025
  1,082
  1,141
  1,203
  1,268
  1,336
  1,407
  1,482
Change in working capital, $m
  -40
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
Cash from operations, $m
  257
  222
  246
  270
  296
  323
  351
  380
  410
  441
  474
  507
  543
  579
  617
  657
  698
  741
  786
  832
  881
  931
  984
  1,039
  1,097
  1,157
  1,220
  1,285
  1,354
  1,426
  1,501
Maintenance CAPEX, $m
  0
  -126
  -142
  -158
  -175
  -193
  -212
  -232
  -253
  -274
  -296
  -320
  -344
  -369
  -395
  -422
  -450
  -479
  -510
  -541
  -574
  -609
  -645
  -682
  -721
  -762
  -804
  -849
  -895
  -944
  -994
New CAPEX, $m
  -762
  -465
  -491
  -517
  -543
  -568
  -593
  -618
  -643
  -669
  -696
  -723
  -752
  -781
  -812
  -844
  -878
  -913
  -951
  -990
  -1,031
  -1,075
  -1,121
  -1,170
  -1,221
  -1,275
  -1,333
  -1,393
  -1,456
  -1,523
  -1,594
Cash from investing activities, $m
  -771
  -591
  -633
  -675
  -718
  -761
  -805
  -850
  -896
  -943
  -992
  -1,043
  -1,096
  -1,150
  -1,207
  -1,266
  -1,328
  -1,392
  -1,461
  -1,531
  -1,605
  -1,684
  -1,766
  -1,852
  -1,942
  -2,037
  -2,137
  -2,242
  -2,351
  -2,467
  -2,588
Free cash flow, $m
  -514
  -369
  -387
  -405
  -422
  -438
  -454
  -470
  -486
  -502
  -518
  -535
  -553
  -570
  -589
  -609
  -629
  -651
  -674
  -699
  -725
  -752
  -782
  -813
  -845
  -880
  -917
  -956
  -997
  -1,041
  -1,087
Issuance/(repayment) of debt, $m
  289
  410
  443
  466
  489
  511
  534
  557
  580
  603
  627
  652
  677
  704
  731
  760
  791
  823
  856
  892
  929
  968
  1,010
  1,054
  1,100
  1,149
  1,200
  1,255
  1,312
  1,372
  1,436
Issuance/(repurchase) of shares, $m
  53
  30
  32
  31
  30
  28
  26
  23
  21
  18
  15
  11
  8
  4
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  539
  440
  475
  497
  519
  539
  560
  580
  601
  621
  642
  663
  685
  708
  732
  760
  791
  823
  856
  892
  929
  968
  1,010
  1,054
  1,100
  1,149
  1,200
  1,255
  1,312
  1,372
  1,436
Total cash flow (excl. dividends), $m
  23
  71
  87
  92
  96
  101
  105
  110
  114
  119
  123
  127
  132
  137
  143
  152
  161
  171
  182
  193
  204
  216
  228
  241
  255
  269
  283
  299
  315
  331
  349
Retained Cash Flow (-), $m
  56
  -104
  -113
  -119
  -124
  -130
  -136
  -142
  -148
  -154
  -160
  -166
  -172
  -179
  -186
  -194
  -201
  -210
  -218
  -227
  -237
  -247
  -257
  -268
  -280
  -293
  -306
  -320
  -334
  -350
  -366
Prev. year cash balance distribution, $m
 
  75
  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
 
  42
  -25
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -39
  -40
  -42
  -43
  -42
  -40
  -38
  -36
  -34
  -32
  -31
  -29
  -27
  -25
  -24
  -22
  -21
  -19
  -18
  -17
Discount rate, %
 
  10.60
  11.13
  11.69
  12.27
  12.88
  13.53
  14.21
  14.92
  15.66
  16.44
  17.27
  18.13
  19.04
  19.99
  20.99
  22.04
  23.14
  24.30
  25.51
  26.79
  28.12
  29.53
  31.01
  32.56
  34.19
  35.90
  37.69
  39.57
  41.55
  43.63
PV of cash for distribution, $m
 
  38
  -20
  -19
  -18
  -16
  -14
  -13
  -11
  -9
  -8
  -7
  -5
  -4
  -3
  -2
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  97.8
  95.6
  93.8
  92.3
  91.0
  89.9
  89.1
  88.4
  87.8
  87.4
  87.1
  86.9
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8
  86.8

GasLog Ltd. operates as an owner, operator, and manager of liquefied natural gas (LNG) carriers. As of December 22, 2016, it owned a fleet of 18 LNG carriers, including 13 ships in operation and 5 LNG carriers on order, as well as had 4 LNG carriers operating under its technical management for third parties. The company, through its subsidiary, GasLog Partners LP, a master limited partnership, also owned 9 LNG carriers. GasLog Ltd. was incorporated in 2003 and is based in Monaco.

FINANCIAL RATIOS  of  GasLog (GLOG)

Valuation Ratios
P/E Ratio -65.6
Price to Sales 3
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 5.4
Price to Free Cash Flow -2.7
Growth Rates
Sales Growth Rate 12.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.7%
Cap. Spend. - 3 Yr. Gr. Rate -6%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 287.4%
Total Debt to Equity 303.6%
Interest Coverage 1
Management Effectiveness
Return On Assets 1.4%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital -0.6%
Ret/ On T. Cap. - 3 Yr. Avg. 0.5%
Return On Equity -2.2%
Return On Equity - 3 Yr. Avg. 1.4%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 75.8%
Gross Margin - 3 Yr. Avg. 76%
EBITDA Margin 49.4%
EBITDA Margin - 3 Yr. Avg. 54.6%
Operating Margin 37.3%
Oper. Margin - 3 Yr. Avg. 39.6%
Pre-Tax Margin 6%
Pre-Tax Margin - 3 Yr. Avg. 11.5%
Net Profit Margin -4.5%
Net Profit Margin - 3 Yr. Avg. 3.6%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio -471.4%

GLOG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLOG stock intrinsic value calculation we used $466 million for the last fiscal year's total revenue generated by GasLog. The default revenue input number comes from 2016 income statement of GasLog. 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 GLOG stock valuation model: a) initial revenue growth rate of 12.3% 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 10.6%, whose default value for GLOG is calculated based on our internal credit rating of GasLog, 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 GasLog.
    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 GLOG stock the variable cost ratio is equal to 60.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $9 million in the base year in the intrinsic value calculation for GLOG 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 GasLog.

Corporate tax rate of 27% is the nominal tax rate for GasLog. 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 GLOG 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 GLOG are equal to 811.7%.

Life of production assets of 30.8 years is the average useful life of capital assets used in GasLog 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 GLOG is equal to -10%. 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 - $946 million for GasLog - 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 81.875 million for GasLog 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 GasLog at the current share price and the inputted number of shares is $1.4 billion.

RELATED COMPANIES Price Int.Val. Rating
DLNG Dynagas LNG Pa 15.08 4.54  str.sell
GLNG Golar LNG 23.14 4.59  str.sell
TGP Teekay LNG Par 17.30 5.37  str.sell
GASS StealthGas 3.10 3.44  hold
GMLP Golar LNG Part 21.64 14.42  sell
GLOP GasLog Partner 24.27 6.55  str.sell

COMPANY NEWS

▶ Bunker Fuel and Crude Oil Prices in Week 27   [Jul-13-17 07:38AM  Market Realist]
▶ ETFs with exposure to GasLog Ltd. : July 7, 2017   [Jul-07-17 02:57PM  Capital Cube]
▶ Morgan Stanley Upgrades GasLog   [Jun-29-17 04:06PM  Market Realist]
▶ Why Bunker Fuel Prices Are on a Downward Trend   [Jun-28-17 07:38AM  Market Realist]
▶ ETFs with exposure to GasLog Ltd. : June 26, 2017   [Jun-26-17 04:03PM  Capital Cube]
▶ ETFs with exposure to GasLog Ltd. : June 15, 2017   [Jun-15-17 02:03PM  Capital Cube]
▶ GasLog Ltd. Value Analysis (NYSE:GLOG) : June 14, 2017   [Jun-14-17 02:04PM  Capital Cube]
▶ Why LNG Transport Firms' Stock Prices Sank in May   [Jun-09-17 04:21PM  Motley Fool]
▶ How Did Bunker Fuel Prices Trend in Week 21?   [Jun-01-17 09:08AM  Market Realist]
▶ Bunker Fuel Prices Rose in Week 19   [May-16-17 10:39AM  Market Realist]
▶ GasLog beats Street 1Q forecasts   [May-05-17 07:08AM  Associated Press]
▶ Earnings Preview: Gaslogs 1Q17 Results   [Apr-28-17 04:43PM  Market Realist]
▶ New Strong Sell Stocks for April 25th   [Apr-25-17 10:10AM  Zacks]
▶ Why Did Bunker Fuel Prices Fall in Week 10?   [Mar-16-17 09:31AM  Market Realist]
▶ GasLog misses Street 4Q forecasts   [Feb-17-17 07:20AM  Associated Press]
▶ GasLog Ltd. Announces Date for 2016 Fourth-Quarter Results   [Feb-15-17 07:01AM  GlobeNewswire]
▶ GasLog Ltd. closes Sale & Purchase Agreement with Gastrade   [Feb-09-17 07:00AM  GlobeNewswire]
▶ GasLog Ltd. Announces Date for 2016 Fourth-Quarter Results   [Jan-24-17 07:06AM  GlobeNewswire]
▶ GasLog Ltd. and GasLog Partners LP Announce CFO Transition   [Jan-16-17 11:42AM  GlobeNewswire]
▶ What Smart Money Thinks about Caleres Inc (CAL)?   [Dec-02-16 01:13PM  at Insider Monkey]
▶ GasLog Ltd. Announces Date for 2016 Third-Quarter Results   [Oct-18-16 07:22AM  GlobeNewswire]
Stock chart of GLOG Financial statements of GLOG Annual reports of GLOG
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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