Intrinsic value of Glu Mobile - GLUU

Previous Close

$3.11

  Intrinsic Value

$1.46

stock screener

  Rating & Target

str. sell

-53%

  Value-price divergence*

+12%

Previous close

$3.11

 
Intrinsic value

$1.46

 
Up/down potential

-53%

 
Rating

str. sell

 
Value-price divergence*

+12%

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

We calculate the intrinsic value of GLUU 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 0.4

 

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, %
  -19.60
  3.60
  3.74
  3.87
  3.98
  4.08
  4.17
  4.26
  4.33
  4.40
  4.46
  4.51
  4.56
  4.60
  4.64
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.93
Revenue, $m
  201
  208
  216
  224
  233
  243
  253
  264
  275
  287
  300
  314
  328
  343
  359
  376
  393
  412
  432
  452
  474
  497
  521
  546
  573
  601
  631
  662
  694
  728
  764
Variable operating expenses, $m
 
  213
  221
  229
  237
  246
  256
  267
  278
  289
  302
  303
  317
  332
  347
  363
  380
  398
  417
  437
  458
  481
  504
  528
  554
  581
  610
  640
  671
  704
  739
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
  279
  213
  221
  229
  237
  246
  256
  267
  278
  289
  302
  303
  317
  332
  347
  363
  380
  398
  417
  437
  458
  481
  504
  528
  554
  581
  610
  640
  671
  704
  739
Operating income, $m
  -79
  -5
  -5
  -4
  -4
  -4
  -3
  -3
  -3
  -2
  -2
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
EBITDA, $m
  -61
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  32
  33
  35
  37
Interest expense (income), $m
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  4
  4
  4
  5
  5
  6
  6
  6
  7
  7
  8
  9
  9
  10
Earnings before tax, $m
  -88
  -5
  -5
  -5
  -4
  -4
  -4
  -4
  -4
  -4
  -3
  9
  9
  9
  9
  10
  10
  10
  10
  11
  11
  11
  12
  12
  13
  13
  13
  14
  14
  15
  16
Tax expense, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
Net income, $m
  -87
  -5
  -5
  -5
  -4
  -4
  -4
  -4
  -4
  -4
  -3
  6
  6
  7
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  10
  11
  11
  11

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  102
  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
  340
  246
  256
  266
  276
  287
  299
  312
  326
  340
  355
  371
  388
  406
  425
  445
  466
  488
  511
  535
  561
  588
  617
  647
  678
  711
  746
  783
  821
  862
  904
Adjusted assets (=assets-cash), $m
  238
  246
  256
  266
  276
  287
  299
  312
  326
  340
  355
  371
  388
  406
  425
  445
  466
  488
  511
  535
  561
  588
  617
  647
  678
  711
  746
  783
  821
  862
  904
Revenue / Adjusted assets
  0.845
  0.846
  0.844
  0.842
  0.844
  0.847
  0.846
  0.846
  0.844
  0.844
  0.845
  0.846
  0.845
  0.845
  0.845
  0.845
  0.843
  0.844
  0.845
  0.845
  0.845
  0.845
  0.844
  0.844
  0.845
  0.845
  0.846
  0.845
  0.845
  0.845
  0.845
Average production assets, $m
  30
  31
  32
  33
  34
  36
  37
  39
  40
  42
  44
  46
  48
  50
  53
  55
  58
  61
  63
  67
  70
  73
  77
  80
  84
  88
  93
  97
  102
  107
  112
Working capital, $m
  71
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -31
  -33
  -34
  -36
  -38
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -69
  -73
  -76
Total debt, $m
  0
  4
  8
  12
  17
  22
  28
  33
  40
  46
  53
  60
  68
  76
  84
  93
  103
  112
  123
  134
  146
  158
  171
  184
  198
  213
  229
  245
  263
  281
  300
Total liabilities, $m
  107
  111
  115
  119
  124
  129
  135
  140
  147
  153
  160
  167
  175
  183
  191
  200
  210
  219
  230
  241
  253
  265
  278
  291
  305
  320
  336
  352
  370
  388
  407
Total equity, $m
  233
  136
  141
  146
  152
  158
  165
  172
  179
  187
  195
  204
  213
  223
  234
  245
  256
  268
  281
  294
  309
  324
  339
  356
  373
  391
  410
  431
  452
  474
  497
Total liabilities and equity, $m
  340
  247
  256
  265
  276
  287
  300
  312
  326
  340
  355
  371
  388
  406
  425
  445
  466
  487
  511
  535
  562
  589
  617
  647
  678
  711
  746
  783
  822
  862
  904
Debt-to-equity ratio
  0.000
  0.030
  0.060
  0.090
  0.110
  0.140
  0.170
  0.190
  0.220
  0.250
  0.270
  0.290
  0.320
  0.340
  0.360
  0.380
  0.400
  0.420
  0.440
  0.450
  0.470
  0.490
  0.500
  0.520
  0.530
  0.540
  0.560
  0.570
  0.580
  0.590
  0.600
Adjusted equity ratio
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -87
  -5
  -5
  -5
  -4
  -4
  -4
  -4
  -4
  -4
  -3
  6
  6
  7
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  10
  11
  11
  11
Depreciation, amort., depletion, $m
  18
  15
  15
  15
  15
  15
  15
  16
  16
  16
  16
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
Funds from operations, $m
  -19
  10
  10
  10
  11
  11
  11
  12
  12
  12
  13
  11
  11
  12
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  18
  19
  20
  21
  22
  23
Change in working capital, $m
  1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
Cash from operations, $m
  -20
  11
  11
  11
  12
  12
  12
  13
  13
  14
  14
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  19
  20
  21
  22
  23
  24
  25
  26
Maintenance CAPEX, $m
  0
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
New CAPEX, $m
  -6
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
Cash from investing activities, $m
  -52
  -4
  -4
  -4
  -4
  -4
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -9
  -9
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -12
  -13
  -14
  -15
  -15
  -16
Free cash flow, $m
  -72
  7
  7
  7
  7
  7
  7
  7
  8
  8
  8
  6
  6
  6
  6
  6
  7
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  10
Issuance/(repayment) of debt, $m
  -2
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  12
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
Issuance/(repurchase) of shares, $m
  2
  9
  10
  10
  10
  10
  11
  11
  11
  11
  12
  3
  3
  3
  4
  4
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  9
  10
  11
  11
  12
Cash from financing (excl. dividends), $m  
  -7
  13
  14
  14
  15
  15
  16
  17
  17
  17
  19
  10
  11
  11
  12
  13
  13
  15
  15
  17
  18
  19
  20
  21
  22
  24
  25
  26
  28
  29
  31
Total cash flow (excl. dividends), $m
  -78
  20
  21
  21
  22
  23
  23
  24
  25
  26
  26
  16
  16
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
  29
  31
  32
  34
  36
  37
  39
  41
Retained Cash Flow (-), $m
  73
  -9
  -10
  -10
  -10
  -10
  -11
  -11
  -11
  -11
  -12
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
Prev. year cash balance distribution, $m
 
  102
  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
 
  113
  11
  11
  12
  12
  13
  13
  14
  14
  15
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
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
 
  108
  10
  10
  10
  9
  9
  9
  9
  8
  8
  3
  3
  3
  3
  2
  2
  2
  2
  2
  1
  1
  1
  1
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  96.0
  92.2
  88.5
  85.1
  81.8
  78.7
  75.8
  73.0
  70.4
  67.9
  67.4
  66.9
  66.3
  65.7
  65.0
  64.4
  63.7
  63.0
  62.2
  61.5
  60.7
  60.0
  59.2
  58.4
  57.6
  56.9
  56.1
  55.3
  54.5
  53.7

Glu Mobile Inc. develops, publishes, and markets a portfolio of games for the smartphones and tablet devices users. The company offers free-to-play action, celebrity, sports, and simulation genre mobile games. It creates games based on its own brands, including Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, Heroes of Destiny, Racing Rivals, Tap Sports Baseball, and Tap Sports Football. The company also creates games based on third-party licensed brands, such as Kim Kardashian: Hollywood, Kendall and Kylie, Katy Perry Pop, James Bond: World of Espionage, Mission Impossible: Rogue Nation, and Sniper X With Jason Statham. Glu Mobile Inc. markets, sells, and distributes its games primarily through direct-to-consumer digital storefronts worldwide. The company was formerly known as Sorrent, Inc. and changed its name to Glu Mobile Inc. in May 2005. Glu Mobile Inc. was incorporated in 2001 and is headquartered in San Francisco, California.

FINANCIAL RATIOS  of  Glu Mobile (GLUU)

Valuation Ratios
P/E Ratio -4.8
Price to Sales 2.1
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow -20.8
Price to Free Cash Flow -16
Growth Rates
Sales Growth Rate -19.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20%
Cap. Spend. - 3 Yr. Gr. Rate 14.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -23.4%
Ret/ On Assets - 3 Yr. Avg. -6.9%
Return On Total Capital -32.3%
Ret/ On T. Cap. - 3 Yr. Avg. -9.3%
Return On Equity -32.3%
Return On Equity - 3 Yr. Avg. -9.3%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 42.3%
Gross Margin - 3 Yr. Avg. 53.5%
EBITDA Margin -34.8%
EBITDA Margin - 3 Yr. Avg. -9.5%
Operating Margin -38.8%
Oper. Margin - 3 Yr. Avg. -13.4%
Pre-Tax Margin -43.8%
Pre-Tax Margin - 3 Yr. Avg. -15.4%
Net Profit Margin -43.3%
Net Profit Margin - 3 Yr. Avg. -14.2%
Effective Tax Rate 1.1%
Eff/ Tax Rate - 3 Yr. Avg. -233%
Payout Ratio 0%

GLUU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLUU stock intrinsic value calculation we used $201 million for the last fiscal year's total revenue generated by Glu Mobile. The default revenue input number comes from 2016 income statement of Glu Mobile. 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 GLUU stock valuation model: a) initial revenue growth rate of 3.6% 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 GLUU is calculated based on our internal credit rating of Glu Mobile, 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 Glu Mobile.
    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 GLUU stock the variable cost ratio is equal to 102.5%.

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 GLUU 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 Glu Mobile.

Corporate tax rate of 27% is the nominal tax rate for Glu Mobile. 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 GLUU 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 GLUU are equal to 14.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Glu Mobile 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 GLUU 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 - $233 million for Glu Mobile - 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 128.79 million for Glu Mobile 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 Glu Mobile at the current share price and the inputted number of shares is $0.4 billion.

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COMPANY NEWS

▶ 3 Reasons Why Glu Mobile Isnt Done Growing Yet   [Aug-12-17 05:43PM  Motley Fool]
▶ Glu Mobile reports 2Q loss   [Aug-02-17 09:05PM  Associated Press]
▶ What's on Tap When Glu Mobile Reports?   [09:13AM  Motley Fool]
▶ ETFs with exposure to Glu Mobile, Inc. : July 24, 2017   [Jul-24-17 04:09PM  Capital Cube]
▶ ETFs with exposure to Glu Mobile, Inc. : July 14, 2017   [Jul-14-17 02:36PM  Capital Cube]
▶ 3 Top Stocks Under $5   [Jun-19-17 09:50AM  Motley Fool]
▶ Wait, What About Mobile Games?   [Jun-08-17 08:00AM  Motley Fool]
▶ ETFs with exposure to Glu Mobile, Inc. : May 23, 2017   [May-23-17 12:44PM  Capital Cube]
▶ 3 Reasons Glu Mobile Could Turn Around in 2017   [May-13-17 02:40PM  Motley Fool]
▶ ETFs with exposure to Glu Mobile, Inc. : May 11, 2017   [May-11-17 04:44PM  Capital Cube]
▶ Glu Mobile Stock Starts to Claw Its Way Back   [May-04-17 09:52AM  Motley Fool]
▶ Glu Mobile reports 1Q loss   [May-03-17 05:34PM  Associated Press]
▶ Better Buy: Glu Mobile vs. NetEase   [Apr-25-17 09:43PM  Motley Fool]
▶ Will Glu Mobile's Surprise Run Continue?   [Apr-13-17 08:41AM  Motley Fool]
▶ Glu Mobile Announces New Employment Inducement Awards   [Apr-12-17 04:30PM  Business Wire]
▶ ETFs with exposure to Glu Mobile, Inc. : April 7, 2017   [Apr-07-17 04:39PM  Capital Cube]
▶ Why Shares of Glu Mobile Inc. Jumped in March   [Apr-06-17 05:46PM  Motley Fool]
▶ ETFs with exposure to Glu Mobile, Inc. : March 27, 2017   [Mar-27-17 03:58PM  Capital Cube]
▶ Glu to Present at 29th Annual ROTH Conference   [Mar-07-17 08:00AM  Business Wire]
▶ [$$] 'Tailored' Accounting Takes Companies Into Alternate Reality   [Feb-23-17 12:36PM  at The Wall Street Journal]
▶ Here's Why Glu Mobile Shares Are Diving Today   [02:05PM  at Motley Fool]
▶ Glu Mobile reports 4Q loss   [06:45PM  AP]
▶ Glu Partners with Kris Bryant and MLB   [04:10PM  Business Wire]
▶ Glu Mobile Stock Has a Lot to Prove on Wednesday   [Feb-07-17 12:22PM  at Motley Fool]
▶ Mike Olsen Joins Glu as Senior Vice President of Studios   [Jan-26-17 08:00AM  Business Wire]
Stock chart of GLUU Financial statements of GLUU
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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