Intrinsic value of GasLog - GLOG

Previous Close

$16.85

  Intrinsic Value

$2.88

stock screener

  Rating & Target

str. sell

-83%

  Value-price divergence*

-31%

Previous close

$16.85

 
Intrinsic value

$2.88

 
Up/down potential

-83%

 
Rating

str. sell

 
Value-price divergence*

-31%

*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
  126
  142
  159
  177
  196
  215
  236
  257
  279
  302
  326
  350
  376
  403
  431
  459
  490
  521
  554
  588
  623
  660
  699
  739
  781
  825
  871
  920
Earnings before tax, $m
  28
  101
  110
  120
  129
  140
  150
  161
  173
  185
  197
  211
  224
  238
  253
  268
  284
  300
  317
  335
  353
  373
  393
  414
  436
  459
  483
  508
  535
  562
  591
Tax expense, $m
  0
  27
  30
  32
  35
  38
  41
  44
  47
  50
  53
  57
  61
  64
  68
  72
  77
  81
  86
  90
  95
  101
  106
  112
  118
  124
  130
  137
  144
  152
  160
Net income, $m
  -21
  74
  80
  87
  94
  102
  110
  118
  126
  135
  144
  154
  164
  174
  185
  196
  207
  219
  231
  244
  258
  272
  287
  302
  318
  335
  353
  371
  390
  410
  432

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
  -94
  -105
  -117
  -129
  -141
  -154
  -168
  -182
  -197
  -213
  -229
  -245
  -263
  -281
  -299
  -319
  -339
  -360
  -382
  -405
  -429
  -454
  -480
  -507
  -535
  -565
  -595
  -628
  -661
  -697
Total debt, $m
  2,872
  3,144
  3,588
  4,056
  4,546
  5,060
  5,596
  6,155
  6,736
  7,342
  7,971
  8,625
  9,305
  10,011
  10,745
  11,508
  12,302
  13,128
  13,987
  14,882
  15,815
  16,787
  17,801
  18,859
  19,963
  21,116
  22,321
  23,581
  24,898
  26,275
  27,717
Total liabilities, $m
  3,570
  3,841
  4,285
  4,753
  5,243
  5,757
  6,293
  6,852
  7,433
  8,039
  8,668
  9,322
  10,002
  10,708
  11,442
  12,205
  12,999
  13,825
  14,684
  15,579
  16,512
  17,484
  18,498
  19,556
  20,660
  21,813
  23,018
  24,278
  25,595
  26,972
  28,414
Total equity, $m
  946
  960
  1,071
  1,188
  1,311
  1,439
  1,573
  1,713
  1,858
  2,010
  2,167
  2,330
  2,500
  2,677
  2,860
  3,051
  3,250
  3,456
  3,671
  3,895
  4,128
  4,371
  4,624
  4,889
  5,165
  5,453
  5,755
  6,069
  6,399
  6,743
  7,103
Total liabilities and equity, $m
  4,516
  4,801
  5,356
  5,941
  6,554
  7,196
  7,866
  8,565
  9,291
  10,049
  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
  27,266
  28,773
  30,347
  31,994
  33,715
  35,517
Debt-to-equity ratio
  3.036
  3.270
  3.350
  3.410
  3.470
  3.520
  3.560
  3.590
  3.620
  3.650
  3.680
  3.700
  3.720
  3.740
  3.760
  3.770
  3.790
  3.800
  3.810
  3.820
  3.830
  3.840
  3.850
  3.860
  3.870
  3.870
  3.880
  3.890
  3.890
  3.900
  3.900
Adjusted equity ratio
  0.164
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200
  0.200

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -21
  74
  80
  87
  94
  102
  110
  118
  126
  135
  144
  154
  164
  174
  185
  196
  207
  219
  231
  244
  258
  272
  287
  302
  318
  335
  353
  371
  390
  410
  432
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
  239
  264
  289
  315
  343
  371
  401
  432
  464
  498
  533
  569
  606
  646
  686
  729
  773
  819
  867
  917
  969
  1,023
  1,080
  1,139
  1,201
  1,266
  1,334
  1,405
  1,479
Change in working capital, $m
  -40
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -34
  -35
Cash from operations, $m
  257
  227
  250
  275
  301
  328
  356
  385
  415
  447
  480
  514
  549
  586
  624
  664
  706
  749
  794
  841
  890
  940
  994
  1,049
  1,107
  1,167
  1,231
  1,297
  1,366
  1,439
  1,514
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
  -364
  -383
  -400
  -417
  -433
  -449
  -465
  -481
  -496
  -512
  -529
  -546
  -564
  -582
  -602
  -622
  -644
  -666
  -691
  -716
  -743
  -772
  -803
  -835
  -870
  -906
  -945
  -985
  -1,028
  -1,074
Issuance/(repayment) of debt, $m
  289
  425
  444
  468
  491
  513
  536
  559
  582
  605
  629
  654
  680
  706
  734
  763
  794
  826
  860
  895
  933
  972
  1,014
  1,058
  1,104
  1,153
  1,205
  1,259
  1,317
  1,378
  1,441
Issuance/(repurchase) of shares, $m
  53
  31
  31
  30
  28
  26
  24
  22
  19
  16
  13
  9
  6
  3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  539
  456
  475
  498
  519
  539
  560
  581
  601
  621
  642
  663
  686
  709
  734
  763
  794
  826
  860
  895
  933
  972
  1,014
  1,058
  1,104
  1,153
  1,205
  1,259
  1,317
  1,378
  1,441
Total cash flow (excl. dividends), $m
  23
  92
  92
  97
  102
  106
  111
  116
  121
  125
  130
  134
  140
  145
  152
  162
  172
  182
  193
  205
  216
  229
  242
  255
  269
  284
  299
  315
  332
  349
  367
Retained Cash Flow (-), $m
  56
  -105
  -111
  -117
  -123
  -128
  -134
  -140
  -145
  -151
  -157
  -164
  -170
  -177
  -184
  -191
  -198
  -206
  -215
  -224
  -233
  -243
  -253
  -264
  -276
  -288
  -301
  -315
  -329
  -344
  -360
Prev. year cash balance distribution, $m
 
  91
  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
 
  77
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -29
  -27
  -24
  -22
  -19
  -17
  -14
  -12
  -9
  -7
  -5
  -2
  0
  2
  5
  7
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
 
  70
  -15
  -14
  -13
  -12
  -11
  -9
  -8
  -7
  -6
  -5
  -4
  -3
  -2
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  97.5
  95.4
  93.6
  92.1
  90.9
  89.8
  89.0
  88.3
  87.7
  87.3
  87.1
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9
  86.9

GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company's owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order. The Company also had four LNG carriers operating under its technical management for third parties. GasLog Partners LP, a master limited partnership formed by the Company, owned a further of approximately 10 LNG carriers. Its on the water fleet includes Methane Lydon Volney, GasLog Savannah, GasLog Savannah, GasLog Chelsea, GasLog Skagen, Solaris and GasLog Saratoga. Its new builds vessels include Hull No. 2130, Hull No. 2800 and Hull No. 2801. Its GasLog Partners Fleet includes GasLog Seattle, GasLog Shanghai, GasLog Santiago, GasLog Sydney and Methane Jane Elizabeth. Its managed fleet includes Methane Julia Louise and Methane Nile Eagle.

FINANCIAL RATIOS  of  GasLog (GLOG)

Valuation Ratios
P/E Ratio -64.6
Price to Sales 2.9
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 5.3
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 -18%. 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 81.176 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 13.30 10.42  sell
GLNG Golar LNG 21.45 4.56  str.sell
TGP Teekay LNG Par 17.00 4.91  str.sell
GLOP GasLog Partner 22.55 5.19  str.sell
GASS StealthGas 3.29 3.48  hold
TK Teekay 8.83 11.07  hold

COMPANY NEWS

▶ GasLog Ltd. Value Analysis (NYSE:GLOG) : August 29, 2017   [Aug-28-17 08:37PM  Capital Cube]
▶ Highlights of Hoegh LNG Partners 2Q17 Results   [Aug-25-17 02:23PM  Market Realist]
▶ GasLog reports 2Q loss   [Aug-04-17 03:17AM  Associated Press]
▶ GasLog reports 2Q loss   [Aug-03-17 09:05AM  Associated Press]
▶ GasLog Ltd. Announces Date for 2017 Second-Quarter Results   [Jul-26-17 05:10PM  GlobeNewswire]
▶ 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]
Financial statements 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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