Intrinsic value of Hologic - HOLX

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$43.08

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$43.08

 
Intrinsic value

$15.95

 
Up/down potential

-63%

 
Rating

str. sell

 
Value-price divergence* premium content

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

We calculate the intrinsic value of HOLX 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 12.0

 

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, %
  4.73
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
Revenue, $m
  2,833
  2,992
  3,157
  3,331
  3,512
  3,701
  3,899
  4,107
  4,324
  4,551
  4,789
  5,039
  5,300
  5,574
  5,861
  6,163
  6,478
  6,809
  7,157
  7,521
  7,903
  8,304
  8,725
  9,166
  9,629
  10,115
  10,625
  11,161
  11,723
  12,313
  12,932
Variable operating expenses, $m
 
  2,542
  2,667
  2,798
  2,935
  3,079
  3,228
  3,385
  3,549
  3,721
  3,901
  3,810
  4,007
  4,214
  4,432
  4,659
  4,898
  5,148
  5,411
  5,686
  5,975
  6,278
  6,596
  6,930
  7,280
  7,648
  8,033
  8,438
  8,863
  9,309
  9,777
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
  2,289
  2,542
  2,667
  2,798
  2,935
  3,079
  3,228
  3,385
  3,549
  3,721
  3,901
  3,810
  4,007
  4,214
  4,432
  4,659
  4,898
  5,148
  5,411
  5,686
  5,975
  6,278
  6,596
  6,930
  7,280
  7,648
  8,033
  8,438
  8,863
  9,309
  9,777
Operating income, $m
  543
  449
  490
  532
  576
  623
  671
  721
  774
  830
  888
  1,229
  1,293
  1,360
  1,430
  1,503
  1,580
  1,661
  1,746
  1,835
  1,928
  2,026
  2,128
  2,236
  2,349
  2,468
  2,592
  2,723
  2,860
  3,004
  3,155
EBITDA, $m
  1,008
  995
  1,050
  1,108
  1,168
  1,231
  1,297
  1,366
  1,438
  1,514
  1,593
  1,676
  1,763
  1,854
  1,950
  2,050
  2,155
  2,265
  2,381
  2,502
  2,629
  2,762
  2,902
  3,049
  3,203
  3,365
  3,534
  3,713
  3,899
  4,096
  4,302
Interest expense (income), $m
  185
  162
  176
  191
  207
  223
  241
  259
  278
  297
  318
  340
  363
  386
  411
  438
  465
  494
  524
  556
  589
  624
  660
  699
  739
  781
  826
  872
  921
  972
  1,026
Earnings before tax, $m
  415
  288
  314
  341
  370
  399
  430
  463
  497
  533
  570
  889
  930
  973
  1,018
  1,066
  1,115
  1,167
  1,222
  1,279
  1,339
  1,402
  1,468
  1,537
  1,610
  1,686
  1,766
  1,850
  1,939
  2,031
  2,129
Tax expense, $m
  84
  78
  85
  92
  100
  108
  116
  125
  134
  144
  154
  240
  251
  263
  275
  288
  301
  315
  330
  345
  362
  379
  396
  415
  435
  455
  477
  500
  523
  548
  575
Net income, $m
  331
  210
  229
  249
  270
  291
  314
  338
  363
  389
  416
  649
  679
  711
  743
  778
  814
  852
  892
  934
  977
  1,023
  1,072
  1,122
  1,175
  1,231
  1,289
  1,351
  1,415
  1,483
  1,554

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  548
  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
  7,317
  7,140
  7,536
  7,949
  8,381
  8,833
  9,306
  9,801
  10,319
  10,862
  11,430
  12,026
  12,650
  13,304
  13,989
  14,708
  15,461
  16,251
  17,080
  17,950
  18,862
  19,819
  20,823
  21,876
  22,981
  24,141
  25,359
  26,637
  27,978
  29,385
  30,863
Adjusted assets (=assets-cash), $m
  6,769
  7,140
  7,536
  7,949
  8,381
  8,833
  9,306
  9,801
  10,319
  10,862
  11,430
  12,026
  12,650
  13,304
  13,989
  14,708
  15,461
  16,251
  17,080
  17,950
  18,862
  19,819
  20,823
  21,876
  22,981
  24,141
  25,359
  26,637
  27,978
  29,385
  30,863
Revenue / Adjusted assets
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
Average production assets, $m
  3,292
  3,476
  3,669
  3,870
  4,081
  4,301
  4,531
  4,772
  5,024
  5,288
  5,565
  5,855
  6,159
  6,477
  6,811
  7,161
  7,528
  7,912
  8,316
  8,739
  9,183
  9,649
  10,138
  10,651
  11,189
  11,754
  12,347
  12,969
  13,622
  14,307
  15,027
Working capital, $m
  425
  182
  193
  203
  214
  226
  238
  251
  264
  278
  292
  307
  323
  340
  358
  376
  395
  415
  437
  459
  482
  507
  532
  559
  587
  617
  648
  681
  715
  751
  789
Total debt, $m
  3,345
  3,319
  3,604
  3,902
  4,214
  4,540
  4,881
  5,238
  5,611
  6,002
  6,412
  6,842
  7,291
  7,763
  8,257
  8,775
  9,319
  9,888
  10,486
  11,113
  11,770
  12,460
  13,184
  13,944
  14,741
  15,577
  16,455
  17,376
  18,343
  19,358
  20,423
Total liabilities, $m
  5,174
  5,148
  5,433
  5,731
  6,043
  6,369
  6,710
  7,067
  7,440
  7,831
  8,241
  8,671
  9,120
  9,592
  10,086
  10,604
  11,148
  11,717
  12,315
  12,942
  13,599
  14,289
  15,013
  15,773
  16,570
  17,406
  18,284
  19,205
  20,172
  21,187
  22,252
Total equity, $m
  2,143
  1,992
  2,102
  2,218
  2,338
  2,464
  2,596
  2,735
  2,879
  3,030
  3,189
  3,355
  3,529
  3,712
  3,903
  4,103
  4,314
  4,534
  4,765
  5,008
  5,262
  5,529
  5,809
  6,103
  6,412
  6,735
  7,075
  7,432
  7,806
  8,199
  8,611
Total liabilities and equity, $m
  7,317
  7,140
  7,535
  7,949
  8,381
  8,833
  9,306
  9,802
  10,319
  10,861
  11,430
  12,026
  12,649
  13,304
  13,989
  14,707
  15,462
  16,251
  17,080
  17,950
  18,861
  19,818
  20,822
  21,876
  22,982
  24,141
  25,359
  26,637
  27,978
  29,386
  30,863
Debt-to-equity ratio
  1.561
  1.670
  1.710
  1.760
  1.800
  1.840
  1.880
  1.920
  1.950
  1.980
  2.010
  2.040
  2.070
  2.090
  2.120
  2.140
  2.160
  2.180
  2.200
  2.220
  2.240
  2.250
  2.270
  2.280
  2.300
  2.310
  2.330
  2.340
  2.350
  2.360
  2.370
Adjusted equity ratio
  0.236
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  331
  210
  229
  249
  270
  291
  314
  338
  363
  389
  416
  649
  679
  711
  743
  778
  814
  852
  892
  934
  977
  1,023
  1,072
  1,122
  1,175
  1,231
  1,289
  1,351
  1,415
  1,483
  1,554
Depreciation, amort., depletion, $m
  465
  546
  560
  576
  592
  609
  626
  645
  664
  684
  705
  447
  470
  494
  520
  547
  575
  604
  635
  667
  701
  737
  774
  813
  854
  897
  942
  990
  1,040
  1,092
  1,147
Funds from operations, $m
  843
  756
  790
  825
  862
  900
  940
  982
  1,027
  1,073
  1,121
  1,096
  1,149
  1,205
  1,263
  1,325
  1,389
  1,456
  1,527
  1,601
  1,678
  1,760
  1,845
  1,935
  2,029
  2,128
  2,232
  2,341
  2,455
  2,575
  2,701
Change in working capital, $m
  56
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  26
  27
  28
  30
  31
  33
  34
  36
  38
Cash from operations, $m
  787
  558
  779
  814
  851
  888
  928
  970
  1,013
  1,059
  1,107
  1,081
  1,133
  1,188
  1,246
  1,306
  1,369
  1,436
  1,505
  1,579
  1,655
  1,735
  1,820
  1,908
  2,001
  2,099
  2,201
  2,308
  2,421
  2,539
  2,663
Maintenance CAPEX, $m
  0
  -251
  -265
  -280
  -295
  -311
  -328
  -346
  -364
  -384
  -404
  -425
  -447
  -470
  -494
  -520
  -547
  -575
  -604
  -635
  -667
  -701
  -737
  -774
  -813
  -854
  -897
  -942
  -990
  -1,040
  -1,092
New CAPEX, $m
  -99
  -184
  -193
  -201
  -210
  -220
  -230
  -241
  -252
  -264
  -277
  -290
  -304
  -318
  -334
  -350
  -367
  -385
  -404
  -423
  -444
  -466
  -489
  -513
  -538
  -565
  -593
  -622
  -653
  -685
  -719
Cash from investing activities, $m
  -68
  -435
  -458
  -481
  -505
  -531
  -558
  -587
  -616
  -648
  -681
  -715
  -751
  -788
  -828
  -870
  -914
  -960
  -1,008
  -1,058
  -1,111
  -1,167
  -1,226
  -1,287
  -1,351
  -1,419
  -1,490
  -1,564
  -1,643
  -1,725
  -1,811
Free cash flow, $m
  719
  123
  322
  333
  345
  357
  370
  383
  397
  411
  426
  366
  383
  400
  418
  436
  456
  476
  498
  520
  544
  569
  594
  622
  650
  680
  711
  744
  778
  814
  852
Issuance/(repayment) of debt, $m
  -443
  270
  285
  298
  312
  326
  341
  357
  374
  391
  410
  429
  450
  471
  494
  518
  543
  570
  598
  627
  658
  690
  724
  760
  797
  836
  878
  921
  967
  1,015
  1,065
Issuance/(repurchase) of shares, $m
  -212
  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  
  -660
  270
  285
  298
  312
  326
  341
  357
  374
  391
  410
  429
  450
  471
  494
  518
  543
  570
  598
  627
  658
  690
  724
  760
  797
  836
  878
  921
  967
  1,015
  1,065
Total cash flow (excl. dividends), $m
  57
  392
  607
  631
  656
  683
  711
  740
  770
  802
  836
  796
  832
  871
  912
  955
  999
  1,046
  1,096
  1,147
  1,202
  1,258
  1,318
  1,381
  1,447
  1,516
  1,589
  1,665
  1,745
  1,829
  1,917
Retained Cash Flow (-), $m
  -64
  -101
  -110
  -115
  -121
  -126
  -132
  -138
  -145
  -151
  -159
  -166
  -174
  -182
  -191
  -201
  -210
  -220
  -231
  -243
  -254
  -267
  -280
  -294
  -308
  -324
  -340
  -356
  -374
  -393
  -412
Prev. year cash balance distribution, $m
 
  252
  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
 
  543
  496
  516
  536
  557
  579
  602
  626
  651
  677
  629
  658
  689
  721
  754
  789
  826
  864
  905
  947
  992
  1,038
  1,087
  1,138
  1,192
  1,249
  1,308
  1,371
  1,436
  1,505
Discount rate, %
 
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.18
  10.69
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.20
  20.17
  21.17
  22.23
  23.34
  24.51
  25.74
  27.02
  28.37
  29.79
  31.28
PV of cash for distribution, $m
 
  505
  426
  405
  382
  358
  332
  305
  278
  250
  222
  174
  152
  131
  111
  92
  75
  61
  48
  37
  28
  21
  15
  11
  7
  5
  3
  2
  1
  1
  0
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

Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. The Diagnostics segment provides Aptima family of assays, target capture/nucleic acid extraction technology, transcription-mediated amplification technology, hybridization protection and dual kinetic assays, Procleix family of assays for blood screening, instrumentation, Invader chemistry platform, ThinPrep system, and rapid fetal fibronectin test. The Breast Health segment offers breast imaging and related products and accessories, including digital and film-based mammography systems; computer-aided detection (CAD) for mammography; invasive breast biopsy devices; breast biopsy site markers; and breast biopsy guidance systems. This segment also provides Dimensions platform, a mammography gantry for 2D and tomosynthesis image acquisition and display; C-View that provides a 2D image; Selenia digital mammography platform; and SecurView Workstation. The GYN Surgical segment offers NovaSure system to treat women suffering from abnormal uterine bleeding; and MyoSure system for the hysteroscopic removal of fibroids. The Skeletal Health segment provides discovery and horizon X-ray bone densitometers that assess the bone density of fracture sites; and mini C-arm imaging systems to perform minimally invasive surgical procedures on a patientÂ’s extremities, such as the hand, wrist, knee, foot, and ankle. The company sells its products through direct sales and service forces, and a network of independent distributors and sales representatives. Hologic, Inc. was founded in 1985 and is headquartered in Marlborough, Massachusetts.

FINANCIAL RATIOS  of  Hologic (HOLX)

Valuation Ratios
P/E Ratio 36.1
Price to Sales 4.2
Price to Book 5.6
Price to Tangible Book
Price to Cash Flow 15.2
Price to Free Cash Flow 17.4
Growth Rates
Sales Growth Rate 4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 11.2%
Cap. Spend. - 3 Yr. Gr. Rate 1.9%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 142.3%
Total Debt to Equity 156.1%
Interest Coverage 3
Management Effectiveness
Return On Assets 6.4%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital 5.9%
Ret/ On T. Cap. - 3 Yr. Avg. 2.8%
Return On Equity 15.7%
Return On Equity - 3 Yr. Avg. 7.6%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 55.2%
Gross Margin - 3 Yr. Avg. 52.5%
EBITDA Margin 37.6%
EBITDA Margin - 3 Yr. Avg. 32.1%
Operating Margin 19.2%
Oper. Margin - 3 Yr. Avg. 14.8%
Pre-Tax Margin 14.6%
Pre-Tax Margin - 3 Yr. Avg. 7.7%
Net Profit Margin 11.7%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 20.2%
Eff/ Tax Rate - 3 Yr. Avg. 36.7%
Payout Ratio 0%

HOLX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HOLX stock intrinsic value calculation we used $2833 million for the last fiscal year's total revenue generated by Hologic. The default revenue input number comes from 2016 income statement of Hologic. 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 HOLX stock valuation model: a) initial revenue growth rate of 5.6% 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 7.6%, whose default value for HOLX is calculated based on our internal credit rating of Hologic, 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 Hologic.
    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 HOLX stock the variable cost ratio is equal to 85.5%.

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 HOLX 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 5.3% for Hologic.

Corporate tax rate of 27% is the nominal tax rate for Hologic. 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 HOLX 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 HOLX are equal to 116.2%.

Life of production assets of 13.1 years is the average useful life of capital assets used in Hologic 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 HOLX is equal to 6.1%. 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 - $2143 million for Hologic - 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 278.261 million for Hologic 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 Hologic at the current share price and the inputted number of shares is $12.0 billion.


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COMPANY NEWS

▶ Eaton Vance Worldwide Health Sciences Fund Adds 4 Companies   [May-17-17 04:30PM  GuruFocus.com]
▶ Hologic Smashes Fiscal Q2 Sales Views, Beats On Profit By 4 Cents   [May-10-17 04:45PM  Investor's Business Daily]
▶ Hologic tops Street 2Q forecasts   [04:16PM  Associated Press]
Stock chart of HOLX Financial statements of HOLX Annual reports of HOLX
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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