Intrinsic value of InterDigital - IDCC

Previous Close

$80.40

  Intrinsic Value

$120.35

stock screener

  Rating & Target

buy

+50%

  Value-price divergence*

+643%

Previous close

$80.40

 
Intrinsic value

$120.35

 
Up/down potential

+50%

 
Rating

buy

 
Value-price divergence*

+643%

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

We calculate the intrinsic value of IDCC 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 2.7

 

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, %
  51.02
  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
  666
  679
  695
  713
  733
  755
  779
  806
  835
  866
  899
  934
  972
  1,013
  1,056
  1,101
  1,149
  1,201
  1,255
  1,312
  1,372
  1,436
  1,503
  1,573
  1,648
  1,726
  1,809
  1,896
  1,987
  2,083
  2,185
Variable operating expenses, $m
 
  359
  368
  377
  388
  399
  412
  426
  442
  458
  476
  494
  514
  536
  558
  583
  608
  635
  664
  694
  726
  759
  795
  832
  872
  913
  957
  1,003
  1,051
  1,102
  1,156
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
  229
  359
  368
  377
  388
  399
  412
  426
  442
  458
  476
  494
  514
  536
  558
  583
  608
  635
  664
  694
  726
  759
  795
  832
  872
  913
  957
  1,003
  1,051
  1,102
  1,156
Operating income, $m
  437
  320
  327
  336
  345
  356
  367
  380
  393
  408
  423
  440
  458
  477
  497
  519
  541
  565
  591
  618
  646
  676
  708
  741
  776
  813
  852
  893
  936
  981
  1,029
EBITDA, $m
  490
  351
  359
  369
  379
  390
  403
  417
  432
  448
  465
  483
  503
  524
  546
  569
  594
  621
  649
  678
  709
  742
  777
  814
  852
  893
  935
  980
  1,028
  1,077
  1,130
Interest expense (income), $m
  8
  10
  9
  10
  11
  12
  13
  14
  15
  17
  18
  20
  22
  23
  25
  28
  30
  32
  35
  38
  40
  43
  47
  50
  53
  57
  61
  65
  70
  74
  79
Earnings before tax, $m
  422
  310
  318
  326
  335
  344
  354
  366
  378
  391
  405
  420
  436
  454
  472
  491
  511
  533
  556
  580
  606
  633
  661
  691
  723
  756
  791
  828
  866
  907
  950
Tax expense, $m
  117
  84
  86
  88
  90
  93
  96
  99
  102
  106
  109
  113
  118
  122
  127
  133
  138
  144
  150
  157
  164
  171
  179
  187
  195
  204
  214
  223
  234
  245
  257
Net income, $m
  309
  227
  232
  238
  244
  251
  259
  267
  276
  286
  296
  307
  319
  331
  344
  358
  373
  389
  406
  424
  442
  462
  483
  504
  528
  552
  577
  604
  632
  662
  694

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  953
  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
  1,728
  1,077
  1,101
  1,130
  1,161
  1,197
  1,235
  1,277
  1,323
  1,372
  1,425
  1,481
  1,541
  1,605
  1,673
  1,745
  1,822
  1,903
  1,988
  2,079
  2,174
  2,275
  2,381
  2,493
  2,611
  2,736
  2,867
  3,004
  3,149
  3,302
  3,462
Adjusted assets (=assets-cash), $m
  775
  1,077
  1,101
  1,130
  1,161
  1,197
  1,235
  1,277
  1,323
  1,372
  1,425
  1,481
  1,541
  1,605
  1,673
  1,745
  1,822
  1,903
  1,988
  2,079
  2,174
  2,275
  2,381
  2,493
  2,611
  2,736
  2,867
  3,004
  3,149
  3,302
  3,462
Revenue / Adjusted assets
  0.859
  0.630
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
  0.631
Average production assets, $m
  307
  313
  320
  329
  338
  348
  359
  372
  385
  399
  414
  431
  448
  467
  487
  508
  530
  553
  578
  605
  632
  662
  693
  725
  760
  796
  834
  874
  916
  960
  1,007
Working capital, $m
  796
  -68
  -69
  -71
  -73
  -76
  -78
  -81
  -83
  -87
  -90
  -93
  -97
  -101
  -106
  -110
  -115
  -120
  -125
  -131
  -137
  -144
  -150
  -157
  -165
  -173
  -181
  -190
  -199
  -208
  -218
Total debt, $m
  272
  253
  275
  301
  329
  361
  396
  434
  475
  519
  566
  617
  671
  729
  790
  855
  924
  996
  1,073
  1,155
  1,241
  1,331
  1,427
  1,528
  1,634
  1,746
  1,864
  1,988
  2,118
  2,256
  2,400
Total liabilities, $m
  988
  969
  991
  1,017
  1,045
  1,077
  1,112
  1,150
  1,191
  1,235
  1,282
  1,333
  1,387
  1,445
  1,506
  1,571
  1,640
  1,712
  1,789
  1,871
  1,957
  2,047
  2,143
  2,244
  2,350
  2,462
  2,580
  2,704
  2,834
  2,972
  3,116
Total equity, $m
  740
  108
  110
  113
  116
  120
  124
  128
  132
  137
  142
  148
  154
  161
  167
  175
  182
  190
  199
  208
  217
  227
  238
  249
  261
  274
  287
  300
  315
  330
  346
Total liabilities and equity, $m
  1,728
  1,077
  1,101
  1,130
  1,161
  1,197
  1,236
  1,278
  1,323
  1,372
  1,424
  1,481
  1,541
  1,606
  1,673
  1,746
  1,822
  1,902
  1,988
  2,079
  2,174
  2,274
  2,381
  2,493
  2,611
  2,736
  2,867
  3,004
  3,149
  3,302
  3,462
Debt-to-equity ratio
  0.368
  2.350
  2.500
  2.660
  2.840
  3.020
  3.200
  3.390
  3.590
  3.780
  3.970
  4.170
  4.350
  4.540
  4.720
  4.900
  5.070
  5.240
  5.400
  5.560
  5.710
  5.850
  5.990
  6.130
  6.260
  6.380
  6.500
  6.620
  6.730
  6.830
  6.930
Adjusted equity ratio
  -0.275
  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
  309
  227
  232
  238
  244
  251
  259
  267
  276
  286
  296
  307
  319
  331
  344
  358
  373
  389
  406
  424
  442
  462
  483
  504
  528
  552
  577
  604
  632
  662
  694
Depreciation, amort., depletion, $m
  53
  31
  32
  33
  34
  35
  36
  37
  38
  40
  41
  43
  45
  47
  49
  51
  53
  55
  58
  60
  63
  66
  69
  73
  76
  80
  83
  87
  92
  96
  101
Funds from operations, $m
  251
  258
  265
  271
  278
  286
  295
  304
  314
  325
  337
  350
  363
  378
  393
  409
  426
  445
  464
  484
  505
  528
  552
  577
  603
  631
  661
  692
  724
  758
  794
Change in working capital, $m
  -180
  -1
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
Cash from operations, $m
  431
  259
  266
  273
  280
  288
  297
  307
  317
  329
  341
  353
  367
  382
  397
  414
  431
  450
  469
  490
  511
  534
  559
  584
  611
  639
  669
  700
  733
  768
  804
Maintenance CAPEX, $m
  0
  -31
  -31
  -32
  -33
  -34
  -35
  -36
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -73
  -76
  -80
  -83
  -87
  -92
  -96
New CAPEX, $m
  -43
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -19
  -20
  -21
  -22
  -24
  -25
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -42
  -44
  -47
Cash from investing activities, $m
  -219
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -64
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -92
  -97
  -102
  -107
  -112
  -118
  -123
  -129
  -136
  -143
Free cash flow, $m
  212
  222
  228
  232
  238
  244
  251
  259
  267
  276
  285
  296
  307
  318
  331
  344
  358
  373
  389
  406
  423
  442
  461
  482
  504
  527
  551
  577
  604
  632
  662
Issuance/(repayment) of debt, $m
  -230
  -19
  22
  25
  29
  32
  35
  38
  41
  44
  47
  51
  54
  58
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101
  106
  112
  118
  124
  130
  137
  144
Issuance/(repurchase) of shares, $m
  -64
  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  
  -287
  -19
  22
  25
  29
  32
  35
  38
  41
  44
  47
  51
  54
  58
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101
  106
  112
  118
  124
  130
  137
  144
Total cash flow (excl. dividends), $m
  -75
  203
  250
  258
  267
  276
  286
  297
  308
  320
  333
  346
  361
  376
  392
  409
  427
  446
  466
  487
  509
  533
  557
  583
  610
  639
  669
  701
  734
  769
  806
Retained Cash Flow (-), $m
  -229
  -40
  -2
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
Prev. year cash balance distribution, $m
 
  672
  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
 
  836
  247
  255
  263
  272
  282
  292
  303
  315
  327
  341
  355
  370
  385
  402
  419
  438
  457
  478
  500
  522
  547
  572
  598
  627
  656
  687
  720
  754
  790
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
 
  801
  226
  222
  217
  211
  205
  197
  190
  181
  172
  162
  151
  141
  129
  118
  107
  95
  84
  74
  63
  54
  45
  37
  30
  24
  19
  15
  11
  8
  6
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

InterDigital, Inc. designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks. The company develops cellular technologies, such as technologies related to CDMA, TDMA, OFDM/OFDMA, and MIMO for use in 2G, 3G, and 4G wireless networks and mobile terminal devices; and other wireless technologies related to Wi-Fi, WLAN, WMAN, and WRAN. Its patented technologies are used in various products, including mobile devices comprising cellular phones, tablets, notebook computers, and wireless personal digital assistants; wireless infrastructure equipment consisting of base stations; components, dongles, and modules for wireless devices; and Internet of Things devices and software platforms. The company also provides interoperability and scalability solutions across various vertical markets, networks, and devices through oneMPOWER platform; and common interface to multiple service providers through wot.io data service exchange for connected device platforms, as well as sensor and sensor fusion technology solutions. As of December 31, 2016, it had a portfolio of approximately 20,000 patents and patent applications related to the fundamental technologies that enable wireless communications. InterDigital, Inc. was founded in 1972 and is headquartered in Wilmington, Delaware.

FINANCIAL RATIOS  of  InterDigital (IDCC)

Valuation Ratios
P/E Ratio 8.9
Price to Sales 4.1
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 6.4
Price to Free Cash Flow 7.1
Growth Rates
Sales Growth Rate 51%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18.9%
Cap. Spend. - 3 Yr. Gr. Rate -7.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 36.8%
Total Debt to Equity 36.8%
Interest Coverage 54
Management Effectiveness
Return On Assets 19.7%
Ret/ On Assets - 3 Yr. Avg. 12.8%
Return On Total Capital 30.7%
Ret/ On T. Cap. - 3 Yr. Avg. 19.8%
Return On Equity 49.4%
Return On Equity - 3 Yr. Avg. 31.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 72.5%
EBITDA Margin - 3 Yr. Avg. 58.3%
Operating Margin 65.6%
Oper. Margin - 3 Yr. Avg. 51.1%
Pre-Tax Margin 63.4%
Pre-Tax Margin - 3 Yr. Avg. 47.1%
Net Profit Margin 46.4%
Net Profit Margin - 3 Yr. Avg. 32.8%
Effective Tax Rate 27.7%
Eff/ Tax Rate - 3 Yr. Avg. 32.7%
Payout Ratio 10%

IDCC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IDCC stock intrinsic value calculation we used $666 million for the last fiscal year's total revenue generated by InterDigital. The default revenue input number comes from 2016 income statement of InterDigital. 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 IDCC 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 4.3%, whose default value for IDCC is calculated based on our internal credit rating of InterDigital, 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 InterDigital.
    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 IDCC stock the variable cost ratio is equal to 52.9%.

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 IDCC 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 InterDigital.

Corporate tax rate of 27% is the nominal tax rate for InterDigital. 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 IDCC 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 IDCC are equal to 46.1%.

Life of production assets of 10 years is the average useful life of capital assets used in InterDigital 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 IDCC 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 - $740 million for InterDigital - 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 33.314 million for InterDigital 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 InterDigital at the current share price and the inputted number of shares is $2.7 billion.

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COMPANY NEWS

▶ Cheap Stocks With Growing EPS   [Jun-22-17 03:29PM  GuruFocus.com]
▶ InterDigital Hosts 2017 Annual Meeting of Shareholders   [Jun-14-17 04:30PM  GlobeNewswire]
▶ ETFs with exposure to InterDigital, Inc. : June 9, 2017   [Jun-09-17 01:38PM  Capital Cube]
▶ 2 Attractive Income Stocks Whose Dividends Could Double   [Jun-01-17 07:57AM  Motley Fool]
▶ ETFs with exposure to InterDigital, Inc. : May 11, 2017   [May-11-17 04:53PM  Capital Cube]
▶ ETFs with exposure to InterDigital, Inc. : May 1, 2017   [May-01-17 03:59PM  Capital Cube]
▶ InterDigital posts 1Q profit   [Apr-27-17 08:40AM  Associated Press]
▶ InterDigital Joins the 5G Automotive Association   [Apr-10-17 08:30AM  GlobeNewswire]
▶ What Makes InterDigital (IDCC) a Strong Sell?   [Mar-14-17 08:37AM  Zacks]
▶ Why InterDigital, Inc. Fell 10% in February   [Mar-09-17 05:34PM  at Motley Fool]
▶ Why InterDigital, Inc. Stock Plunged Today   [Feb-23-17 07:04PM  at Motley Fool]
▶ Is It Too Late to Buy InterDigital Stock?   [Feb-21-17 07:21PM  at Motley Fool]
▶ 2 Cheap Stocks You Can Buy Right Now   [12:11PM  at Motley Fool]
▶ 3 Stocks With NVIDIA-Like Return Potential   [Feb-19-17 02:57AM  at Motley Fool]
▶ 7 Tech Stocks With Explosive Growth Potential   [Feb-07-17 09:00AM  at Kiplinger]
▶ European H2020 Project FLAME Kicks Off Call for Experiments   [Jan-24-17 04:15PM  GlobeNewswire]
▶ InterDigital Engineer Named IEEE Fellow   [Jan-04-17 11:53AM  GlobeNewswire]
▶ Why Eli Lilly, Xilinx, and InterDigital Jumped Today   [Dec-15-16 06:25PM  at Motley Fool]
▶ Should You Add InterDigital, Inc. (IDCC) to Your Portfolio?   [Dec-06-16 01:47PM  at Insider Monkey]
▶ InterDigital to Present at NASDAQ 35th Investor Program   [Nov-22-16 08:30AM  GlobeNewswire]
▶ Why InterDigital, Inc. Fell 11% in October   [Nov-12-16 06:14PM  at Motley Fool]
Stock chart of IDCC Financial statements of IDCC Annual reports of IDCC
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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