Intrinsic value of Genie Energy - GNE

Previous Close

$4.37

  Intrinsic Value

$0.87

stock screener

  Rating & Target

str. sell

-80%

Previous close

$4.37

 
Intrinsic value

$0.87

 
Up/down potential

-80%

 
Rating

str. sell

We calculate the intrinsic value of GNE 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 0.1

 

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, %
  -0.47
  15.60
  14.54
  13.59
  12.73
  11.95
  11.26
  10.63
  10.07
  9.56
  9.11
  8.70
  8.33
  7.99
  7.69
  7.42
  7.18
  6.96
  6.77
  6.59
  6.43
  6.29
  6.16
  6.04
  5.94
  5.85
  5.76
  5.68
  5.62
  5.55
  5.50
Revenue, $m
  212
  245
  281
  319
  359
  402
  448
  495
  545
  597
  652
  708
  767
  829
  892
  959
  1,028
  1,099
  1,174
  1,251
  1,331
  1,415
  1,502
  1,593
  1,688
  1,786
  1,889
  1,997
  2,109
  2,226
  2,348
Variable operating expenses, $m
 
  254
  291
  331
  372
  417
  464
  513
  564
  618
  675
  732
  793
  857
  923
  991
  1,062
  1,136
  1,213
  1,293
  1,376
  1,463
  1,553
  1,647
  1,745
  1,847
  1,953
  2,064
  2,180
  2,301
  2,428
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
  243
  254
  291
  331
  372
  417
  464
  513
  564
  618
  675
  732
  793
  857
  923
  991
  1,062
  1,136
  1,213
  1,293
  1,376
  1,463
  1,553
  1,647
  1,745
  1,847
  1,953
  2,064
  2,180
  2,301
  2,428
Operating income, $m
  -31
  -9
  -10
  -12
  -13
  -14
  -16
  -18
  -19
  -21
  -23
  -24
  -26
  -28
  -30
  -32
  -35
  -37
  -40
  -42
  -45
  -48
  -51
  -54
  -57
  -60
  -64
  -67
  -71
  -75
  -79
EBITDA, $m
  -30
  -8
  -9
  -10
  -12
  -13
  -14
  -16
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -38
  -40
  -43
  -45
  -48
  -51
  -54
  -57
  -61
  -64
  -68
  -71
  -75
Interest expense (income), $m
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  4
  4
  4
  4
  5
  5
  6
  6
  6
  7
  7
  8
  8
  9
Earnings before tax, $m
  -30
  -9
  -11
  -12
  -13
  -15
  -17
  -19
  -21
  -22
  -25
  -26
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -53
  -56
  -59
  -63
  -67
  -71
  -75
  -79
  -83
  -88
Tax expense, $m
  2
  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
Net income, $m
  -25
  -9
  -11
  -12
  -13
  -15
  -17
  -19
  -21
  -22
  -25
  -26
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -53
  -56
  -59
  -63
  -67
  -71
  -75
  -79
  -83
  -88

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  35
  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
  122
  101
  115
  131
  147
  165
  184
  203
  224
  245
  267
  291
  315
  340
  366
  393
  422
  451
  482
  513
  546
  581
  616
  654
  693
  733
  775
  819
  865
  913
  964
Adjusted assets (=assets-cash), $m
  87
  101
  115
  131
  147
  165
  184
  203
  224
  245
  267
  291
  315
  340
  366
  393
  422
  451
  482
  513
  546
  581
  616
  654
  693
  733
  775
  819
  865
  913
  964
Revenue / Adjusted assets
  2.437
  2.426
  2.443
  2.435
  2.442
  2.436
  2.435
  2.438
  2.433
  2.437
  2.442
  2.433
  2.435
  2.438
  2.437
  2.440
  2.436
  2.437
  2.436
  2.439
  2.438
  2.435
  2.438
  2.436
  2.436
  2.437
  2.437
  2.438
  2.438
  2.438
  2.436
Average production assets, $m
  4
  4
  5
  5
  6
  7
  8
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  19
  20
  21
  23
  24
  26
  27
  29
  30
  32
  34
  36
  38
  40
Working capital, $m
  57
  26
  30
  34
  39
  43
  48
  53
  59
  65
  70
  77
  83
  89
  96
  104
  111
  119
  127
  135
  144
  153
  162
  172
  182
  193
  204
  216
  228
  240
  254
Total debt, $m
  1
  4
  8
  13
  18
  23
  29
  35
  41
  47
  54
  61
  68
  76
  83
  92
  100
  109
  118
  127
  137
  148
  158
  169
  181
  193
  206
  219
  233
  247
  262
Total liabilities, $m
  27
  30
  34
  39
  44
  49
  55
  61
  67
  73
  80
  87
  94
  102
  109
  118
  126
  135
  144
  153
  163
  174
  184
  195
  207
  219
  232
  245
  259
  273
  288
Total equity, $m
  95
  70
  81
  92
  103
  116
  129
  142
  157
  172
  187
  204
  221
  238
  257
  276
  296
  316
  338
  360
  383
  407
  432
  458
  485
  514
  543
  574
  607
  640
  675
Total liabilities and equity, $m
  122
  100
  115
  131
  147
  165
  184
  203
  224
  245
  267
  291
  315
  340
  366
  394
  422
  451
  482
  513
  546
  581
  616
  653
  692
  733
  775
  819
  866
  913
  963
Debt-to-equity ratio
  0.011
  0.060
  0.100
  0.140
  0.180
  0.200
  0.220
  0.240
  0.260
  0.280
  0.290
  0.300
  0.310
  0.320
  0.330
  0.330
  0.340
  0.340
  0.350
  0.350
  0.360
  0.360
  0.370
  0.370
  0.370
  0.380
  0.380
  0.380
  0.380
  0.390
  0.390
Adjusted equity ratio
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701
  0.701

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -25
  -9
  -11
  -12
  -13
  -15
  -17
  -19
  -21
  -22
  -25
  -26
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -53
  -56
  -59
  -63
  -67
  -71
  -75
  -79
  -83
  -88
Depreciation, amort., depletion, $m
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  4
  4
  4
Funds from operations, $m
  19
  -8
  -9
  -11
  -12
  -14
  -15
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -67
  -71
  -75
  -79
  -84
Change in working capital, $m
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
Cash from operations, $m
  16
  -11
  -13
  -15
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -31
  -33
  -36
  -38
  -41
  -44
  -46
  -49
  -53
  -56
  -59
  -63
  -66
  -70
  -74
  -78
  -83
  -87
  -92
  -97
Maintenance CAPEX, $m
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
New CAPEX, $m
  -13
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
Cash from investing activities, $m
  -10
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -5
  -5
  -5
  -5
  -5
  -5
  -6
  -6
Free cash flow, $m
  6
  -12
  -14
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -53
  -56
  -59
  -63
  -67
  -71
  -75
  -79
  -83
  -88
  -93
  -98
  -103
Issuance/(repayment) of debt, $m
  -3
  4
  4
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
Issuance/(repurchase) of shares, $m
  1
  19
  21
  23
  25
  27
  30
  32
  35
  37
  40
  42
  45
  48
  51
  54
  58
  61
  65
  69
  73
  77
  81
  85
  90
  95
  100
  105
  111
  117
  123
Cash from financing (excl. dividends), $m  
  -3
  23
  25
  28
  30
  32
  36
  38
  41
  43
  47
  49
  52
  56
  59
  62
  66
  70
  74
  78
  83
  87
  92
  96
  102
  107
  113
  118
  125
  131
  138
Total cash flow (excl. dividends), $m
  3
  10
  11
  12
  13
  13
  14
  15
  15
  16
  17
  16
  17
  18
  18
  19
  20
  21
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
Retained Cash Flow (-), $m
  27
  -19
  -21
  -23
  -25
  -27
  -30
  -32
  -35
  -37
  -40
  -42
  -45
  -48
  -51
  -54
  -58
  -61
  -65
  -69
  -73
  -77
  -81
  -85
  -90
  -95
  -100
  -105
  -111
  -117
  -123
Prev. year cash balance distribution, $m
 
  34
  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
 
  26
  -10
  -11
  -13
  -14
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -53
  -56
  -59
  -63
  -67
  -71
  -75
  -79
  -83
  -88
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
 
  25
  -9
  -10
  -10
  -11
  -12
  -12
  -12
  -12
  -12
  -12
  -12
  -12
  -11
  -10
  -10
  -9
  -8
  -7
  -6
  -5
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  100
  78.8
  62.5
  50.0
  40.3
  32.6
  26.6
  21.8
  17.9
  14.8
  12.3
  10.2
  8.6
  7.2
  6.1
  5.1
  4.3
  3.6
  3.1
  2.6
  2.2
  1.9
  1.6
  1.4
  1.2
  1.0
  0.8
  0.7
  0.6
  0.5
  0.5

Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc. The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc. and Residents Energy, Inc., and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers. The Afek segment operates an oil and gas exploration project. The GOGAS segment is an oil and gas exploration company. The GOGAS segment consists of early-stage oil shale projects, including its interest in Genie Mongolia, Inc., an oil shale exploration project; American Shale Oil Corporation, which holds and manages an interest in AMSO, LLC, an oil shale development project, and Israel Energy Initiatives, Ltd., an oil shale development project.

FINANCIAL RATIOS  of  Genie Energy (GNE)

Valuation Ratios
P/E Ratio -4.3
Price to Sales 0.5
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 6.7
Price to Free Cash Flow 35.9
Growth Rates
Sales Growth Rate -0.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -51.9%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 35
Current Ratio 0.4
LT Debt to Equity 0%
Total Debt to Equity 1.1%
Interest Coverage 0
Management Effectiveness
Return On Assets -18%
Ret/ On Assets - 3 Yr. Avg. -13.1%
Return On Total Capital -22.7%
Ret/ On T. Cap. - 3 Yr. Avg. -16.6%
Return On Equity -23%
Return On Equity - 3 Yr. Avg. -16.7%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 36.3%
Gross Margin - 3 Yr. Avg. 28.4%
EBITDA Margin -13.7%
EBITDA Margin - 3 Yr. Avg. -9%
Operating Margin -14.6%
Oper. Margin - 3 Yr. Avg. -9.4%
Pre-Tax Margin -14.2%
Pre-Tax Margin - 3 Yr. Avg. -9.2%
Net Profit Margin -11.8%
Net Profit Margin - 3 Yr. Avg. -8.1%
Effective Tax Rate -6.7%
Eff/ Tax Rate - 3 Yr. Avg. -6.4%
Payout Ratio -28%

GNE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GNE stock intrinsic value calculation we used $212 million for the last fiscal year's total revenue generated by Genie Energy. The default revenue input number comes from 2016 income statement of Genie Energy. 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 GNE stock valuation model: a) initial revenue growth rate of 15.6% 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 GNE is calculated based on our internal credit rating of Genie Energy, 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 Genie Energy.
    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 GNE stock the variable cost ratio is equal to 103.8%.

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 GNE 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 Genie Energy.

Corporate tax rate of 27% is the nominal tax rate for Genie Energy. 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 GNE 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 GNE are equal to 1.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Genie Energy 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 GNE is equal to 10.8%. 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 - $95 million for Genie Energy - 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 24.676 million for Genie Energy 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 Genie Energy at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
ED Consolidated E 87.98 48.42  sell
AGR Avangrid 51.60 37.43  sell
EXC Exelon 41.13 85.48  str.buy
NGG National Grid 58.95 32.88  sell
AEE Ameren 61.25 54.30  hold
NI NiSource 26.43 15.01  sell
PEG Public Service 52.18 10.71  str.sell

COMPANY NEWS

▶ Genie Energy posts 3Q profit   [Nov-02-17 08:57AM  Associated Press]
▶ ETFs with exposure to Genie Energy Ltd. : October 3, 2017   [Oct-03-17 11:15AM  Capital Cube]
▶ Diversegy Introduces "MATT", a New Matrix Pricing Tool   [Aug-23-17 08:30AM  PR Newswire]
▶ Genie Energy reports 2Q loss   [Aug-04-17 03:17AM  Associated Press]
▶ Genie Energy Ltd. Reports Second Quarter 2017 Results   [Aug-03-17 07:30AM  PR Newswire]
▶ Genie Energy (GNE) to Report Second Quarter 2017 Results   [Jul-18-17 08:30AM  PR Newswire]
▶ ETFs with exposure to Genie Energy Ltd. : July 11, 2017   [Jul-11-17 02:34PM  Capital Cube]
▶ ETFs with exposure to Genie Energy Ltd. : May 26, 2017   [May-26-17 01:10PM  Capital Cube]
▶ ETFs with exposure to Genie Energy Ltd. : May 15, 2017   [May-15-17 03:49PM  Capital Cube]
▶ Genie Energy posts 1Q profit   [May-03-17 07:36AM  Associated Press]
▶ Genie Energy (GNE) to Report First Quarter 2017 Results   [Apr-19-17 09:00AM  PR Newswire]
▶ ETFs with exposure to Genie Energy Ltd. : April 5, 2017   [Apr-05-17 04:50PM  Capital Cube]
▶ Genie Energy Ltd. Expands Loan Facility   [07:03AM  PR Newswire]
▶ Genie Energy reports 4Q loss   [07:36AM  Associated Press]
▶ Genie Retail Energy Acquires Retail Energy Holdings, LLC   [Nov-03-16 06:26PM  PR Newswire]
▶ Genie Energy (GNE) to Report Third Quarter 2016 Results   [Oct-26-16 05:31PM  PR Newswire]
▶ Genie Energy (GNE) to Report Second Quarter 2016 Results   [Jul-19-16 01:50PM  PR Newswire]
▶ BP Stock: Analyzing 5 Key Customers   [May-06-16 01:33PM  at Investopedia]
▶ Genie Energy (GNE) to Report First Quarter 2016 Results   [Apr-25-16 02:51PM  Marketwired]
Financial statements of GNE
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.