Intrinsic value of Herbalife - HLF

Previous Close

$61.95

  Intrinsic Value

$67.76

stock screener

  Rating & Target

hold

+9%

  Value-price divergence*

-3%

Previous close

$61.95

 
Intrinsic value

$67.76

 
Up/down potential

+9%

 
Rating

hold

 
Value-price divergence*

-3%

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

We calculate the intrinsic value of HLF 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 5.7

 

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, %
  0.43
  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
  4,488
  4,578
  4,683
  4,803
  4,939
  5,088
  5,253
  5,431
  5,625
  5,834
  6,058
  6,297
  6,553
  6,825
  7,114
  7,421
  7,746
  8,090
  8,454
  8,839
  9,245
  9,674
  10,125
  10,602
  11,104
  11,632
  12,189
  12,775
  13,391
  14,040
  14,722
Variable operating expenses, $m
 
  3,978
  4,069
  4,174
  4,291
  4,420
  4,563
  4,718
  4,886
  5,067
  5,261
  5,460
  5,681
  5,917
  6,168
  6,434
  6,716
  7,014
  7,330
  7,663
  8,015
  8,387
  8,779
  9,192
  9,627
  10,085
  10,568
  11,076
  11,610
  12,172
  12,764
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
  4,030
  3,978
  4,069
  4,174
  4,291
  4,420
  4,563
  4,718
  4,886
  5,067
  5,261
  5,460
  5,681
  5,917
  6,168
  6,434
  6,716
  7,014
  7,330
  7,663
  8,015
  8,387
  8,779
  9,192
  9,627
  10,085
  10,568
  11,076
  11,610
  12,172
  12,764
Operating income, $m
  458
  600
  614
  630
  648
  668
  690
  713
  739
  767
  797
  838
  872
  908
  946
  987
  1,030
  1,076
  1,124
  1,176
  1,230
  1,287
  1,347
  1,410
  1,477
  1,547
  1,621
  1,699
  1,781
  1,867
  1,958
EBITDA, $m
  556
  677
  693
  710
  730
  753
  777
  803
  832
  863
  896
  931
  969
  1,009
  1,052
  1,098
  1,146
  1,197
  1,250
  1,307
  1,367
  1,431
  1,498
  1,568
  1,642
  1,720
  1,803
  1,889
  1,981
  2,077
  2,177
Interest expense (income), $m
  45
  51
  50
  52
  54
  57
  59
  62
  66
  69
  73
  77
  81
  86
  91
  96
  101
  107
  113
  120
  127
  134
  142
  150
  159
  168
  177
  187
  198
  209
  220
Earnings before tax, $m
  365
  549
  564
  578
  594
  611
  630
  651
  674
  698
  724
  761
  790
  822
  856
  891
  929
  969
  1,011
  1,056
  1,103
  1,152
  1,205
  1,260
  1,318
  1,380
  1,444
  1,512
  1,583
  1,659
  1,738
Tax expense, $m
  105
  148
  152
  156
  160
  165
  170
  176
  182
  188
  195
  205
  213
  222
  231
  241
  251
  262
  273
  285
  298
  311
  325
  340
  356
  372
  390
  408
  428
  448
  469
Net income, $m
  260
  401
  412
  422
  433
  446
  460
  475
  492
  509
  528
  555
  577
  600
  625
  651
  678
  707
  738
  771
  805
  841
  880
  920
  962
  1,007
  1,054
  1,104
  1,156
  1,211
  1,268

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  844
  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
  2,565
  2,616
  2,676
  2,745
  2,822
  2,908
  3,001
  3,104
  3,214
  3,334
  3,461
  3,598
  3,744
  3,900
  4,065
  4,240
  4,426
  4,623
  4,831
  5,051
  5,283
  5,528
  5,786
  6,058
  6,345
  6,647
  6,965
  7,300
  7,652
  8,023
  8,413
Adjusted assets (=assets-cash), $m
  1,721
  2,616
  2,676
  2,745
  2,822
  2,908
  3,001
  3,104
  3,214
  3,334
  3,461
  3,598
  3,744
  3,900
  4,065
  4,240
  4,426
  4,623
  4,831
  5,051
  5,283
  5,528
  5,786
  6,058
  6,345
  6,647
  6,965
  7,300
  7,652
  8,023
  8,413
Revenue / Adjusted assets
  2.608
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
  1.750
Average production assets, $m
  669
  682
  698
  716
  736
  758
  783
  809
  838
  869
  903
  938
  976
  1,017
  1,060
  1,106
  1,154
  1,205
  1,260
  1,317
  1,378
  1,441
  1,509
  1,580
  1,654
  1,733
  1,816
  1,903
  1,995
  2,092
  2,194
Working capital, $m
  671
  -165
  -169
  -173
  -178
  -183
  -189
  -196
  -203
  -210
  -218
  -227
  -236
  -246
  -256
  -267
  -279
  -291
  -304
  -318
  -333
  -348
  -365
  -382
  -400
  -419
  -439
  -460
  -482
  -505
  -530
Total debt, $m
  1,448
  1,433
  1,487
  1,549
  1,619
  1,696
  1,780
  1,872
  1,972
  2,079
  2,194
  2,317
  2,449
  2,589
  2,738
  2,895
  3,063
  3,240
  3,427
  3,625
  3,834
  4,054
  4,286
  4,531
  4,790
  5,061
  5,348
  5,649
  5,966
  6,299
  6,650
Total liabilities, $m
  2,369
  2,354
  2,408
  2,470
  2,540
  2,617
  2,701
  2,793
  2,893
  3,000
  3,115
  3,238
  3,370
  3,510
  3,659
  3,816
  3,984
  4,161
  4,348
  4,546
  4,755
  4,975
  5,207
  5,452
  5,711
  5,982
  6,269
  6,570
  6,887
  7,220
  7,571
Total equity, $m
  196
  262
  268
  274
  282
  291
  300
  310
  321
  333
  346
  360
  374
  390
  407
  424
  443
  462
  483
  505
  528
  553
  579
  606
  635
  665
  697
  730
  765
  802
  841
Total liabilities and equity, $m
  2,565
  2,616
  2,676
  2,744
  2,822
  2,908
  3,001
  3,103
  3,214
  3,333
  3,461
  3,598
  3,744
  3,900
  4,066
  4,240
  4,427
  4,623
  4,831
  5,051
  5,283
  5,528
  5,786
  6,058
  6,346
  6,647
  6,966
  7,300
  7,652
  8,022
  8,412
Debt-to-equity ratio
  7.388
  5.480
  5.560
  5.640
  5.740
  5.830
  5.930
  6.030
  6.130
  6.240
  6.340
  6.440
  6.540
  6.640
  6.730
  6.830
  6.920
  7.010
  7.090
  7.180
  7.260
  7.330
  7.410
  7.480
  7.550
  7.610
  7.680
  7.740
  7.800
  7.850
  7.910
Adjusted equity ratio
  -0.377
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  260
  401
  412
  422
  433
  446
  460
  475
  492
  509
  528
  555
  577
  600
  625
  651
  678
  707
  738
  771
  805
  841
  880
  920
  962
  1,007
  1,054
  1,104
  1,156
  1,211
  1,268
Depreciation, amort., depletion, $m
  98
  77
  79
  81
  83
  85
  87
  90
  93
  96
  99
  94
  98
  102
  106
  111
  115
  121
  126
  132
  138
  144
  151
  158
  165
  173
  182
  190
  200
  209
  219
Funds from operations, $m
  309
  478
  490
  502
  516
  531
  547
  565
  585
  605
  628
  649
  675
  702
  731
  761
  794
  828
  864
  902
  943
  985
  1,030
  1,078
  1,128
  1,180
  1,236
  1,294
  1,355
  1,420
  1,488
Change in working capital, $m
  -58
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
Cash from operations, $m
  367
  481
  494
  507
  521
  536
  553
  572
  592
  613
  636
  658
  684
  712
  741
  772
  805
  840
  877
  916
  957
  1,001
  1,047
  1,095
  1,146
  1,199
  1,256
  1,315
  1,378
  1,443
  1,512
Maintenance CAPEX, $m
  0
  -67
  -68
  -70
  -72
  -74
  -76
  -78
  -81
  -84
  -87
  -90
  -94
  -98
  -102
  -106
  -111
  -115
  -121
  -126
  -132
  -138
  -144
  -151
  -158
  -165
  -173
  -182
  -190
  -200
  -209
New CAPEX, $m
  -143
  -13
  -16
  -18
  -20
  -22
  -24
  -27
  -29
  -31
  -33
  -36
  -38
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -61
  -64
  -67
  -71
  -75
  -79
  -83
  -87
  -92
  -97
  -102
Cash from investing activities, $m
  -141
  -80
  -84
  -88
  -92
  -96
  -100
  -105
  -110
  -115
  -120
  -126
  -132
  -139
  -145
  -152
  -159
  -166
  -175
  -183
  -193
  -202
  -211
  -222
  -233
  -244
  -256
  -269
  -282
  -297
  -311
Free cash flow, $m
  226
  401
  410
  419
  429
  440
  453
  467
  482
  498
  515
  532
  552
  573
  596
  620
  646
  673
  702
  733
  765
  799
  835
  873
  913
  955
  1,000
  1,046
  1,095
  1,147
  1,202
Issuance/(repayment) of debt, $m
  -239
  -15
  54
  62
  69
  77
  84
  92
  100
  107
  115
  123
  131
  140
  149
  158
  167
  177
  187
  198
  209
  220
  232
  245
  258
  272
  286
  301
  317
  334
  351
Issuance/(repurchase) of shares, $m
  -13
  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 from financing (excl. dividends), $m  
  -252
  -15
  54
  62
  69
  77
  84
  92
  100
  107
  115
  123
  131
  140
  149
  158
  167
  177
  187
  198
  209
  220
  232
  245
  258
  272
  286
  301
  317
  334
  351
Total cash flow (excl. dividends), $m
  -46
  387
  464
  481
  499
  517
  537
  559
  581
  605
  631
  655
  683
  713
  745
  778
  813
  851
  890
  931
  974
  1,020
  1,068
  1,118
  1,171
  1,227
  1,286
  1,348
  1,412
  1,481
  1,552
Retained Cash Flow (-), $m
  -250
  -66
  -6
  -7
  -8
  -9
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -39
Prev. year cash balance distribution, $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 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
 
  321
  458
  474
  491
  509
  528
  549
  570
  593
  618
  641
  669
  698
  728
  761
  795
  831
  869
  909
  951
  995
  1,042
  1,091
  1,143
  1,197
  1,254
  1,314
  1,377
  1,444
  1,513
Discount rate, %
 
  4.40
  4.62
  4.85
  5.09
  5.35
  5.62
  5.90
  6.19
  6.50
  6.83
  7.17
  7.53
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
PV of cash for distribution, $m
 
  308
  419
  411
  402
  392
  380
  367
  353
  337
  319
  300
  280
  260
  239
  217
  196
  175
  154
  134
  115
  98
  82
  67
  55
  43
  34
  26
  19
  14
  10
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Herbalife Ltd., a nutrition company, develops and sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products, and personal care products. It offers science-based products in four principal categories, including weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition. The company’s weight management product portfolio includes meal replacement products, protein shakes, drink mixes, weight loss enhancers, and healthy snacks; targeted nutrition products comprise dietary and nutritional supplements containing herbs, vitamins, minerals, and other natural ingredients; and outer nutrition products consist of facial skin, body, and hair care products. It also provides literature, promotional, and other materials, including start-up kits, sales tools, and educational materials. The company offers its products through retail stores, sales representatives, sales officers, and independent service providers. It operates in North America, Mexico, South and Central America, Europe, the Middle East, Africa, the Asia Pacific, and China. The company was founded in 1980 and is based in Grand Cayman, the Cayman Islands.

FINANCIAL RATIOS  of  Herbalife (HLF)

Valuation Ratios
P/E Ratio 22.2
Price to Sales 1.3
Price to Book 29.4
Price to Tangible Book
Price to Cash Flow 15.7
Price to Free Cash Flow 25.7
Growth Rates
Sales Growth Rate 0.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 81%
Cap. Spend. - 3 Yr. Gr. Rate -0.6%
Financial Strength
Quick Ratio 84
Current Ratio 0
LT Debt to Equity 733.7%
Total Debt to Equity 738.8%
Interest Coverage 9
Management Effectiveness
Return On Assets 11.6%
Ret/ On Assets - 3 Yr. Avg. 13.6%
Return On Total Capital 16.2%
Ret/ On T. Cap. - 3 Yr. Avg. 19.8%
Return On Equity 366.2%
Return On Equity - 3 Yr. Avg. 158.7%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 81%
Gross Margin - 3 Yr. Avg. 80.7%
EBITDA Margin 11.3%
EBITDA Margin - 3 Yr. Avg. 12.2%
Operating Margin 10.2%
Oper. Margin - 3 Yr. Avg. 11.2%
Pre-Tax Margin 8.1%
Pre-Tax Margin - 3 Yr. Avg. 9.2%
Net Profit Margin 5.8%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 28.8%
Eff/ Tax Rate - 3 Yr. Avg. 28.5%
Payout Ratio 0%

HLF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HLF stock intrinsic value calculation we used $4488 million for the last fiscal year's total revenue generated by Herbalife. The default revenue input number comes from 2016 income statement of Herbalife. 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 HLF 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 4.4%, whose default value for HLF is calculated based on our internal credit rating of Herbalife, 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 Herbalife.
    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 HLF stock the variable cost ratio is equal to 86.9%.

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 HLF 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 Herbalife.

Corporate tax rate of 27% is the nominal tax rate for Herbalife. 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 HLF 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 HLF are equal to 14.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Herbalife 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 HLF is equal to -3.6%. 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 - $196 million for Herbalife - 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 91.903 million for Herbalife 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 Herbalife at the current share price and the inputted number of shares is $5.7 billion.

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COMPANY NEWS

▶ Herbalife Is 'Interesting' -- and Confusing   [Aug-10-17 11:38AM  TheStreet.com]
▶ ADP Stock Breakout Just Getting Started   [Aug-08-17 10:32AM  Investopedia]
▶ Herbalife Ltd. Value Analysis (NYSE:HLF) : August 4, 2017   [Aug-03-17 10:40PM  Capital Cube]
▶ Herbalife Sinks as FTC Regulation Stands to Thwart Growth   [Aug-02-17 04:35PM  Investopedia]
▶ Herbalife: What Went Wrong   [02:23PM  Barrons.com]
▶ Analyzing Herbalifes 2Q17 Earnings Beat   [09:11AM  Market Realist]
▶ Herbalife Stock Fell after Its 2Q17 Results   [07:40AM  Market Realist]
▶ Herbalife posts 2Q profit   [Aug-01-17 09:36PM  Associated Press]
▶ Herbalife: Analysts Recommendations and Target Price   [Jul-21-17 05:05PM  Market Realist]
▶ What Could Impact Herbalifes 2Q17 Sales?   [03:36PM  Market Realist]
▶ Have You Hugged a Short-Selling Activist Today?   [Jul-02-17 08:03AM  Motley Fool]
▶ Why Herbalife Ltd. Stock Jumped 14% in May   [Jun-15-17 12:08PM  Motley Fool]
▶ Company News for June 06, 2017   [10:04AM  Zacks]
▶ Top Stocks Billionaires Are Buying Now   [04:51PM  Motley Fool]
Stock chart of HLF Financial statements of HLF
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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