Intrinsic value of Iconix Brand Group - ICON

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$6.18

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$6.18

 
Intrinsic value

$0.88

 
Up/down potential

-86%

 
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 ICON 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, %
  -2.90
  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
  368
  375
  384
  394
  405
  417
  431
  445
  461
  478
  497
  516
  537
  560
  583
  608
  635
  663
  693
  725
  758
  793
  830
  869
  910
  954
  999
  1,047
  1,098
  1,151
  1,207
Variable operating expenses, $m
 
  635
  649
  666
  684
  704
  726
  750
  777
  805
  835
  850
  885
  921
  960
  1,002
  1,046
  1,092
  1,141
  1,193
  1,248
  1,306
  1,367
  1,431
  1,499
  1,570
  1,646
  1,725
  1,808
  1,896
  1,988
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
  617
  635
  649
  666
  684
  704
  726
  750
  777
  805
  835
  850
  885
  921
  960
  1,002
  1,046
  1,092
  1,141
  1,193
  1,248
  1,306
  1,367
  1,431
  1,499
  1,570
  1,646
  1,725
  1,808
  1,896
  1,988
Operating income, $m
  -249
  -260
  -265
  -272
  -279
  -287
  -296
  -305
  -315
  -326
  -338
  -334
  -347
  -362
  -377
  -393
  -411
  -429
  -448
  -469
  -490
  -513
  -537
  -562
  -589
  -617
  -646
  -677
  -710
  -744
  -780
EBITDA, $m
  -245
  -197
  -201
  -206
  -212
  -218
  -225
  -233
  -241
  -250
  -260
  -270
  -281
  -293
  -305
  -319
  -333
  -347
  -363
  -379
  -397
  -415
  -435
  -455
  -477
  -499
  -523
  -548
  -575
  -603
  -632
Interest expense (income), $m
  60
  49
  50
  52
  54
  56
  58
  60
  63
  66
  69
  72
  76
  79
  83
  88
  92
  97
  102
  107
  113
  119
  125
  132
  139
  146
  154
  162
  170
  179
  189
Earnings before tax, $m
  -326
  -309
  -316
  -324
  -333
  -343
  -353
  -365
  -378
  -392
  -407
  -406
  -423
  -441
  -460
  -481
  -503
  -526
  -550
  -576
  -603
  -632
  -662
  -694
  -727
  -763
  -800
  -839
  -880
  -924
  -969
Tax expense, $m
  -76
  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
  -252
  -309
  -316
  -324
  -333
  -343
  -353
  -365
  -378
  -392
  -407
  -406
  -423
  -441
  -460
  -481
  -503
  -526
  -550
  -576
  -603
  -632
  -662
  -694
  -727
  -763
  -800
  -839
  -880
  -924
  -969

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  137
  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
  2,006
  1,905
  1,949
  1,999
  2,056
  2,118
  2,186
  2,261
  2,341
  2,428
  2,521
  2,621
  2,727
  2,841
  2,961
  3,089
  3,224
  3,367
  3,519
  3,679
  3,848
  4,026
  4,214
  4,413
  4,622
  4,842
  5,073
  5,317
  5,574
  5,844
  6,128
Adjusted assets (=assets-cash), $m
  1,869
  1,905
  1,949
  1,999
  2,056
  2,118
  2,186
  2,261
  2,341
  2,428
  2,521
  2,621
  2,727
  2,841
  2,961
  3,089
  3,224
  3,367
  3,519
  3,679
  3,848
  4,026
  4,214
  4,413
  4,622
  4,842
  5,073
  5,317
  5,574
  5,844
  6,128
Revenue / Adjusted assets
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
  0.197
Average production assets, $m
  1,358
  1,385
  1,417
  1,453
  1,494
  1,539
  1,589
  1,643
  1,701
  1,765
  1,832
  1,905
  1,982
  2,064
  2,152
  2,245
  2,343
  2,447
  2,557
  2,674
  2,796
  2,926
  3,063
  3,207
  3,359
  3,519
  3,687
  3,864
  4,051
  4,247
  4,453
Working capital, $m
  454
  188
  192
  197
  202
  209
  215
  223
  231
  239
  248
  258
  269
  280
  292
  304
  318
  332
  347
  362
  379
  397
  415
  435
  455
  477
  500
  524
  549
  576
  604
Total debt, $m
  1,254
  1,145
  1,180
  1,220
  1,265
  1,315
  1,370
  1,429
  1,494
  1,563
  1,638
  1,717
  1,802
  1,893
  1,989
  2,091
  2,199
  2,314
  2,435
  2,563
  2,698
  2,840
  2,990
  3,149
  3,316
  3,492
  3,677
  3,871
  4,076
  4,292
  4,519
Total liabilities, $m
  1,630
  1,522
  1,557
  1,597
  1,642
  1,692
  1,747
  1,806
  1,871
  1,940
  2,015
  2,094
  2,179
  2,270
  2,366
  2,468
  2,576
  2,691
  2,812
  2,940
  3,075
  3,217
  3,367
  3,526
  3,693
  3,869
  4,054
  4,248
  4,453
  4,669
  4,896
Total equity, $m
  375
  383
  392
  402
  413
  426
  439
  454
  471
  488
  507
  527
  548
  571
  595
  621
  648
  677
  707
  739
  773
  809
  847
  887
  929
  973
  1,020
  1,069
  1,120
  1,175
  1,232
Total liabilities and equity, $m
  2,005
  1,905
  1,949
  1,999
  2,055
  2,118
  2,186
  2,260
  2,342
  2,428
  2,522
  2,621
  2,727
  2,841
  2,961
  3,089
  3,224
  3,368
  3,519
  3,679
  3,848
  4,026
  4,214
  4,413
  4,622
  4,842
  5,074
  5,317
  5,573
  5,844
  6,128
Debt-to-equity ratio
  3.344
  2.990
  3.010
  3.040
  3.060
  3.090
  3.120
  3.150
  3.170
  3.200
  3.230
  3.260
  3.290
  3.310
  3.340
  3.370
  3.390
  3.420
  3.440
  3.470
  3.490
  3.510
  3.530
  3.550
  3.570
  3.590
  3.610
  3.620
  3.640
  3.650
  3.670
Adjusted equity ratio
  0.127
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -252
  -309
  -316
  -324
  -333
  -343
  -353
  -365
  -378
  -392
  -407
  -406
  -423
  -441
  -460
  -481
  -503
  -526
  -550
  -576
  -603
  -632
  -662
  -694
  -727
  -763
  -800
  -839
  -880
  -924
  -969
Depreciation, amort., depletion, $m
  4
  63
  64
  66
  67
  68
  70
  72
  74
  76
  78
  63
  66
  69
  72
  75
  78
  82
  85
  89
  93
  98
  102
  107
  112
  117
  123
  129
  135
  142
  148
Funds from operations, $m
  142
  -246
  -251
  -258
  -266
  -274
  -283
  -293
  -304
  -316
  -329
  -342
  -357
  -372
  -389
  -406
  -425
  -444
  -465
  -487
  -510
  -534
  -560
  -587
  -615
  -645
  -677
  -710
  -745
  -782
  -821
Change in working capital, $m
  20
  4
  4
  5
  6
  6
  7
  7
  8
  9
  9
  10
  10
  11
  12
  13
  13
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  27
  28
Cash from operations, $m
  122
  -596
  -256
  -263
  -271
  -280
  -290
  -301
  -312
  -325
  -338
  -352
  -367
  -383
  -401
  -419
  -438
  -458
  -480
  -502
  -526
  -552
  -578
  -606
  -636
  -667
  -700
  -734
  -771
  -809
  -849
Maintenance CAPEX, $m
  0
  -45
  -46
  -47
  -48
  -50
  -51
  -53
  -55
  -57
  -59
  -61
  -63
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -89
  -93
  -98
  -102
  -107
  -112
  -117
  -123
  -129
  -135
  -142
New CAPEX, $m
  -10
  -27
  -32
  -36
  -41
  -45
  -50
  -54
  -59
  -63
  -68
  -72
  -77
  -82
  -87
  -93
  -98
  -104
  -110
  -116
  -123
  -130
  -137
  -144
  -152
  -160
  -168
  -177
  -186
  -196
  -206
Cash from investing activities, $m
  170
  -72
  -78
  -83
  -89
  -95
  -101
  -107
  -114
  -120
  -127
  -133
  -140
  -148
  -156
  -165
  -173
  -182
  -192
  -201
  -212
  -223
  -235
  -246
  -259
  -272
  -285
  -300
  -315
  -331
  -348
Free cash flow, $m
  292
  -668
  -334
  -347
  -361
  -375
  -391
  -408
  -426
  -445
  -465
  -486
  -508
  -532
  -557
  -583
  -611
  -640
  -671
  -704
  -738
  -774
  -812
  -852
  -895
  -939
  -985
  -1,034
  -1,086
  -1,140
  -1,197
Issuance/(repayment) of debt, $m
  -139
  28
  35
  40
  45
  50
  55
  59
  64
  69
  74
  80
  85
  90
  96
  102
  108
  114
  121
  128
  135
  143
  150
  158
  167
  176
  185
  195
  205
  216
  227
Issuance/(repurchase) of shares, $m
  -1
  648
  308
  317
  327
  338
  350
  363
  377
  393
  409
  426
  445
  464
  485
  507
  530
  555
  581
  608
  637
  668
  700
  734
  770
  807
  847
  889
  932
  978
  1,027
Cash from financing (excl. dividends), $m  
  -310
  676
  343
  357
  372
  388
  405
  422
  441
  462
  483
  506
  530
  554
  581
  609
  638
  669
  702
  736
  772
  811
  850
  892
  937
  983
  1,032
  1,084
  1,137
  1,194
  1,254
Total cash flow (excl. dividends), $m
  -21
  -640
  -299
  -307
  -316
  -326
  -336
  -348
  -361
  -375
  -390
  -406
  -423
  -441
  -461
  -481
  -503
  -526
  -550
  -576
  -603
  -632
  -662
  -694
  -728
  -763
  -800
  -839
  -881
  -924
  -970
Retained Cash Flow (-), $m
  216
  -8
  -9
  -10
  -11
  -13
  -14
  -15
  -16
  -17
  -19
  -20
  -21
  -23
  -24
  -26
  -27
  -29
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -47
  -49
  -52
  -54
  -57
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
 
  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
Discount rate, %
 
  10.80
  11.34
  11.91
  12.50
  13.13
  13.78
  14.47
  15.20
  15.96
  16.75
  17.59
  18.47
  19.40
  20.37
  21.38
  22.45
  23.58
  24.75
  25.99
  27.29
  28.66
  30.09
  31.59
  33.17
  34.83
  36.57
  38.40
  40.32
  42.34
  44.45
PV of cash for 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
Current shareholders' claim on cash, %
  100
  35.7
  19.4
  10.5
  5.7
  3.1
  1.6
  0.9
  0.5
  0.3
  0.1
  0.1
  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
  0.0
  0.0
  0.0
  0.0

Iconix Brand Group, Inc., a brand management company, owns a portfolio of consumer brands across women’s, men’s, entertainment, and home industries in the United States and internationally. Its brand portfolio includes Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Marc Ecko Cut & Sew, Zoo York, Sharper Image, Umbro, Lee Cooper, Strawberry Shortcake, and Artful Dodger. The company also owns interest in the Material Girl, Peanuts, Ed Hardy, Truth or Dare, Billionaire Boys Club, Ice Cream, Modern Amusement, Buffalo, Nick Graham, Hydraulic, and PONY brands. In addition, it licenses its brands directly to retailers for use across a range of product categories, including apparel, footwear, fashion accessories, sportswear, home furnishings and décor, beauty and fragrance, consumer electronics, and novelty products. The company sells its brands across various distribution channels from the mass tier to the luxury market, as well as through various media outlets. The company was formerly known as Candie’s, Inc. and changed its name to Iconix Brand Group, Inc. in July 2005. Iconix Brand Group, Inc. was founded in 1978 and is based in New York, New York.

FINANCIAL RATIOS  of  Iconix Brand Group (ICON)

Valuation Ratios
P/E Ratio -1.4
Price to Sales 1
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 2.9
Price to Free Cash Flow 3.1
Growth Rates
Sales Growth Rate -2.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 1
Current Ratio 1.9
LT Debt to Equity 291.7%
Total Debt to Equity 334.4%
Interest Coverage -4
Management Effectiveness
Return On Assets -9.1%
Ret/ On Assets - 3 Yr. Avg. -3.4%
Return On Total Capital -13.7%
Ret/ On T. Cap. - 3 Yr. Avg. -6%
Return On Equity -52.2%
Return On Equity - 3 Yr. Avg. -22.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -71.2%
EBITDA Margin - 3 Yr. Avg. -25%
Operating Margin -67.7%
Oper. Margin - 3 Yr. Avg. -27.9%
Pre-Tax Margin -88.6%
Pre-Tax Margin - 3 Yr. Avg. -40.3%
Net Profit Margin -68.5%
Net Profit Margin - 3 Yr. Avg. -30.6%
Effective Tax Rate 23.3%
Eff/ Tax Rate - 3 Yr. Avg. 28.5%
Payout Ratio 0%

ICON stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ICON stock intrinsic value calculation we used $368 million for the last fiscal year's total revenue generated by Iconix Brand Group. The default revenue input number comes from 2016 income statement of Iconix Brand Group. 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 ICON 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 10.8%, whose default value for ICON is calculated based on our internal credit rating of Iconix Brand Group, 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 Iconix Brand Group.
    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 ICON stock the variable cost ratio is equal to 169.3%.

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 ICON 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 4.4% for Iconix Brand Group.

Corporate tax rate of 27% is the nominal tax rate for Iconix Brand Group. 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 ICON 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 ICON are equal to 368.9%.

Life of production assets of 392.9 years is the average useful life of capital assets used in Iconix Brand Group 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 ICON is equal to 50%. 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 - $375 million for Iconix Brand Group - 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 58.091 million for Iconix Brand Group 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 Iconix Brand Group at the current share price and the inputted number of shares is $0.4 billion.


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COMPANY NEWS

▶ [$$] Its the Great White North, Charlie Brown   [May-26-17 11:33PM  The Wall Street Journal]
▶ Good Grief! Charlie Brown Is Sold Again!   [May-24-17 07:43PM  Motley Fool]
▶ Good grief! Peanuts and Strawberry Shortcake sell for $345 million   [May-10-17 08:07PM  American City Business Journals]
▶ DHX Acquires Peanuts for More Than Peanuts   [11:59AM  TheStreet.com]
▶ Iconix reports 1Q loss   [07:50AM  Associated Press]
▶ Iconix reports 4Q loss   [Feb-22-17 07:24PM  Associated Press]
▶ Snoopy and Charlie Brown are up for sale by N.Y.C. firm   [Feb-01-17 11:00AM  at bizjournals.com]
▶ Iconix Brand Sells Off the Sharper Image   [Jan-11-17 04:23PM  at Motley Fool]
▶ ThreeSixty Group buys Sharper Image   [Jan-02-17 09:20PM  at bizjournals.com]
▶ Iconix Sells Sharper Image Brand for $100 Million   [Dec-31-16 08:06AM  at Investopedia]
▶ [$$] Business Watch   [Dec-30-16 09:20PM  at The Wall Street Journal]
▶ [$$] FAO Schwarz Owner Buys Sharper Image   [12:08PM  at The Wall Street Journal]
▶ Hedge Funds Are Losing Faith In Iconix Brand Group Inc (ICON)   [Dec-09-16 06:49PM  at Insider Monkey]
▶ Highlights From Iconix Brand Group's Investor Day   [Dec-01-16 02:29PM  at Motley Fool]
▶ Iconix To Host Investor Day On November 15, 2016   [Oct-26-16 01:47PM  PR Newswire]
▶ Iconix Announces Changes to Board of Directors   [Sep-27-16 08:00AM  PR Newswire]
▶ [$$] Sycamore and Joint Venture Bidding on Retailer Aéropostale   [Aug-31-16 07:21PM  at The Wall Street Journal]
▶ Key Highlights From Iconix Brand's Second Quarter Results   [Aug-12-16 10:41AM  at Motley Fool]
Stock chart of ICON Financial statements of ICON Annual reports of ICON
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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