Intrinsic value of Internet Gold-Golden Lines - IGLD

Previous Close

$9.89

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$9.89

 
Intrinsic value premium content
 
Up/down potential premium content
 
Rating premium content
 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of IGLD 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 ), $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 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
(a)
   1
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -100.00
  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
  0
  10,185
  10,419
  10,687
  10,987
  11,320
  11,686
  12,084
  12,515
  12,979
  13,477
  14,010
  14,578
  15,184
  15,827
  16,510
  17,233
  17,999
  18,809
  19,665
  20,569
  21,522
  22,527
  23,587
  24,704
  25,880
  27,118
  28,422
  29,793
  31,236
  32,754
Variable operating expenses, $m
 
  7,286
  7,447
  7,630
  7,836
  8,064
  8,315
  8,588
  8,883
  9,201
  9,542
  9,601
  9,990
  10,405
  10,846
  11,314
  11,810
  12,335
  12,890
  13,476
  14,096
  14,749
  15,438
  16,164
  16,929
  17,735
  18,584
  19,477
  20,417
  21,406
  22,446
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
  0
  7,286
  7,447
  7,630
  7,836
  8,064
  8,315
  8,588
  8,883
  9,201
  9,542
  9,601
  9,990
  10,405
  10,846
  11,314
  11,810
  12,335
  12,890
  13,476
  14,096
  14,749
  15,438
  16,164
  16,929
  17,735
  18,584
  19,477
  20,417
  21,406
  22,446
Operating income, $m
  0
  2,899
  2,972
  3,057
  3,151
  3,256
  3,371
  3,496
  3,632
  3,778
  3,935
  4,409
  4,588
  4,778
  4,981
  5,196
  5,423
  5,664
  5,919
  6,189
  6,473
  6,773
  7,090
  7,423
  7,774
  8,145
  8,534
  8,944
  9,376
  9,830
  10,308
EBITDA, $m
  0
  4,919
  5,032
  5,162
  5,307
  5,468
  5,644
  5,836
  6,044
  6,269
  6,509
  6,767
  7,041
  7,334
  7,644
  7,974
  8,324
  8,693
  9,085
  9,498
  9,934
  10,395
  10,880
  11,392
  11,932
  12,500
  13,098
  13,727
  14,390
  15,087
  15,820
Interest expense (income), $m
  0
  714
  610
  633
  659
  688
  721
  756
  795
  837
  882
  931
  983
  1,038
  1,097
  1,160
  1,226
  1,297
  1,371
  1,450
  1,534
  1,622
  1,714
  1,812
  1,916
  2,024
  2,139
  2,259
  2,386
  2,520
  2,660
Earnings before tax, $m
  0
  2,185
  2,362
  2,424
  2,492
  2,568
  2,650
  2,740
  2,837
  2,941
  3,052
  3,478
  3,605
  3,740
  3,884
  4,036
  4,197
  4,368
  4,548
  4,738
  4,940
  5,152
  5,375
  5,611
  5,859
  6,120
  6,395
  6,685
  6,990
  7,310
  7,647
Tax expense, $m
  0
  590
  638
  654
  673
  693
  716
  740
  766
  794
  824
  939
  973
  1,010
  1,049
  1,090
  1,133
  1,179
  1,228
  1,279
  1,334
  1,391
  1,451
  1,515
  1,582
  1,652
  1,727
  1,805
  1,887
  1,974
  2,065
Net income, $m
  0
  1,595
  1,724
  1,769
  1,819
  1,874
  1,935
  2,000
  2,071
  2,147
  2,228
  2,539
  2,632
  2,730
  2,835
  2,946
  3,064
  3,188
  3,320
  3,459
  3,606
  3,761
  3,924
  4,096
  4,277
  4,468
  4,669
  4,880
  5,102
  5,336
  5,583

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
  0
Total assets, $m
  0
  20,410
  20,880
  21,416
  22,019
  22,686
  23,419
  24,216
  25,080
  26,010
  27,008
  28,076
  29,215
  30,428
  31,718
  33,086
  34,536
  36,071
  37,694
  39,409
  41,220
  43,130
  45,145
  47,269
  49,507
  51,864
  54,345
  56,957
  59,706
  62,597
  65,638
Adjusted assets (=assets-cash), $m
  0
  20,410
  20,880
  21,416
  22,019
  22,686
  23,419
  24,216
  25,080
  26,010
  27,008
  28,076
  29,215
  30,428
  31,718
  33,086
  34,536
  36,071
  37,694
  39,409
  41,220
  43,130
  45,145
  47,269
  49,507
  51,864
  54,345
  56,957
  59,706
  62,597
  65,638
Revenue / Adjusted assets
  0.000
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
  0.499
Average production assets, $m
  0
  10,969
  11,221
  11,510
  11,833
  12,192
  12,586
  13,014
  13,478
  13,978
  14,515
  15,089
  15,701
  16,353
  17,046
  17,781
  18,560
  19,385
  20,258
  21,179
  22,152
  23,179
  24,262
  25,403
  26,606
  27,873
  29,206
  30,610
  32,087
  33,641
  35,276
Working capital, $m
  0
  -530
  -542
  -556
  -571
  -589
  -608
  -628
  -651
  -675
  -701
  -729
  -758
  -790
  -823
  -859
  -896
  -936
  -978
  -1,023
  -1,070
  -1,119
  -1,171
  -1,227
  -1,285
  -1,346
  -1,410
  -1,478
  -1,549
  -1,624
  -1,703
Total debt, $m
  0
  11,300
  11,723
  12,206
  12,748
  13,349
  14,008
  14,726
  15,503
  16,340
  17,238
  18,199
  19,225
  20,317
  21,477
  22,708
  24,013
  25,395
  26,855
  28,399
  30,029
  31,748
  33,562
  35,473
  37,487
  39,608
  41,842
  44,192
  46,666
  49,268
  52,006
Total liabilities, $m
  0
  18,369
  18,792
  19,275
  19,817
  20,418
  21,077
  21,795
  22,572
  23,409
  24,307
  25,268
  26,294
  27,386
  28,546
  29,777
  31,082
  32,464
  33,924
  35,468
  37,098
  38,817
  40,631
  42,542
  44,556
  46,677
  48,911
  51,261
  53,735
  56,337
  59,075
Total equity, $m
  0
  2,041
  2,088
  2,142
  2,202
  2,269
  2,342
  2,422
  2,508
  2,601
  2,701
  2,808
  2,922
  3,043
  3,172
  3,309
  3,454
  3,607
  3,769
  3,941
  4,122
  4,313
  4,515
  4,727
  4,951
  5,186
  5,435
  5,696
  5,971
  6,260
  6,564
Total liabilities and equity, $m
  0
  20,410
  20,880
  21,417
  22,019
  22,687
  23,419
  24,217
  25,080
  26,010
  27,008
  28,076
  29,216
  30,429
  31,718
  33,086
  34,536
  36,071
  37,693
  39,409
  41,220
  43,130
  45,146
  47,269
  49,507
  51,863
  54,346
  56,957
  59,706
  62,597
  65,639
Debt-to-equity ratio
  0.000
  5.540
  5.610
  5.700
  5.790
  5.880
  5.980
  6.080
  6.180
  6.280
  6.380
  6.480
  6.580
  6.680
  6.770
  6.860
  6.950
  7.040
  7.120
  7.210
  7.290
  7.360
  7.430
  7.500
  7.570
  7.640
  7.700
  7.760
  7.820
  7.870
  7.920
Adjusted equity ratio
  0.000
  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
  0
  1,595
  1,724
  1,769
  1,819
  1,874
  1,935
  2,000
  2,071
  2,147
  2,228
  2,539
  2,632
  2,730
  2,835
  2,946
  3,064
  3,188
  3,320
  3,459
  3,606
  3,761
  3,924
  4,096
  4,277
  4,468
  4,669
  4,880
  5,102
  5,336
  5,583
Depreciation, amort., depletion, $m
  0
  2,020
  2,060
  2,105
  2,156
  2,212
  2,273
  2,340
  2,413
  2,491
  2,575
  2,358
  2,453
  2,555
  2,663
  2,778
  2,900
  3,029
  3,165
  3,309
  3,461
  3,622
  3,791
  3,969
  4,157
  4,355
  4,563
  4,783
  5,014
  5,256
  5,512
Funds from operations, $m
  0
  3,616
  3,784
  3,874
  3,975
  4,086
  4,208
  4,340
  4,483
  4,637
  4,803
  4,897
  5,085
  5,286
  5,499
  5,725
  5,964
  6,217
  6,485
  6,768
  7,067
  7,382
  7,715
  8,065
  8,434
  8,823
  9,232
  9,663
  10,116
  10,593
  11,094
Change in working capital, $m
  0
  -10
  -12
  -14
  -16
  -17
  -19
  -21
  -22
  -24
  -26
  -28
  -30
  -31
  -33
  -36
  -38
  -40
  -42
  -44
  -47
  -50
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
  -79
Cash from operations, $m
  0
  4,579
  3,796
  3,888
  3,990
  4,103
  4,227
  4,361
  4,506
  4,662
  4,829
  4,924
  5,115
  5,317
  5,532
  5,760
  6,002
  6,257
  6,527
  6,813
  7,114
  7,432
  7,767
  8,120
  8,492
  8,884
  9,297
  9,731
  10,187
  10,668
  11,173
Maintenance CAPEX, $m
  0
  -1,680
  -1,714
  -1,753
  -1,798
  -1,849
  -1,905
  -1,967
  -2,033
  -2,106
  -2,184
  -2,268
  -2,358
  -2,453
  -2,555
  -2,663
  -2,778
  -2,900
  -3,029
  -3,165
  -3,309
  -3,461
  -3,622
  -3,791
  -3,969
  -4,157
  -4,355
  -4,563
  -4,783
  -5,014
  -5,256
New CAPEX, $m
  0
  -217
  -252
  -288
  -324
  -359
  -394
  -429
  -464
  -500
  -536
  -574
  -612
  -652
  -693
  -735
  -779
  -825
  -872
  -922
  -973
  -1,027
  -1,083
  -1,141
  -1,203
  -1,267
  -1,334
  -1,404
  -1,477
  -1,554
  -1,635
Cash from investing activities, $m
  0
  -1,897
  -1,966
  -2,041
  -2,122
  -2,208
  -2,299
  -2,396
  -2,497
  -2,606
  -2,720
  -2,842
  -2,970
  -3,105
  -3,248
  -3,398
  -3,557
  -3,725
  -3,901
  -4,087
  -4,282
  -4,488
  -4,705
  -4,932
  -5,172
  -5,424
  -5,689
  -5,967
  -6,260
  -6,568
  -6,891
Free cash flow, $m
  0
  2,682
  1,830
  1,846
  1,868
  1,896
  1,928
  1,966
  2,008
  2,056
  2,108
  2,082
  2,145
  2,212
  2,284
  2,361
  2,444
  2,532
  2,626
  2,726
  2,832
  2,944
  3,062
  3,188
  3,320
  3,460
  3,608
  3,763
  3,927
  4,100
  4,282
Issuance/(repayment) of debt, $m
  0
  -1,915
  422
  483
  542
  601
  659
  718
  777
  837
  898
  961
  1,026
  1,092
  1,160
  1,231
  1,305
  1,381
  1,461
  1,543
  1,630
  1,720
  1,813
  1,911
  2,014
  2,121
  2,233
  2,351
  2,474
  2,602
  2,737
Issuance/(repurchase) of shares, $m
  0
  1,367
  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  
  0
  -548
  422
  483
  542
  601
  659
  718
  777
  837
  898
  961
  1,026
  1,092
  1,160
  1,231
  1,305
  1,381
  1,461
  1,543
  1,630
  1,720
  1,813
  1,911
  2,014
  2,121
  2,233
  2,351
  2,474
  2,602
  2,737
Total cash flow (excl. dividends), $m
  0
  767
  2,253
  2,329
  2,410
  2,496
  2,587
  2,684
  2,785
  2,893
  3,006
  3,044
  3,170
  3,304
  3,444
  3,593
  3,749
  3,914
  4,087
  4,269
  4,461
  4,663
  4,876
  5,099
  5,334
  5,581
  5,841
  6,114
  6,401
  6,703
  7,020
Retained Cash Flow (-), $m
  0
  -2,308
  -47
  -54
  -60
  -67
  -73
  -80
  -86
  -93
  -100
  -107
  -114
  -121
  -129
  -137
  -145
  -153
  -162
  -171
  -181
  -191
  -201
  -212
  -224
  -236
  -248
  -261
  -275
  -289
  -304
Prev. year cash balance distribution, $m
 
  174
  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
  2,206
  2,276
  2,350
  2,430
  2,514
  2,604
  2,699
  2,800
  2,907
  2,937
  3,056
  3,182
  3,315
  3,456
  3,604
  3,760
  3,925
  4,098
  4,280
  4,472
  4,674
  4,887
  5,111
  5,346
  5,593
  5,853
  6,126
  6,414
  6,715
Discount rate, %
 
  10.50
  11.03
  11.58
  12.16
  12.76
  13.40
  14.07
  14.77
  15.51
  16.29
  17.10
  17.96
  18.86
  19.80
  20.79
  21.83
  22.92
  24.07
  25.27
  26.53
  27.86
  29.25
  30.72
  32.25
  33.86
  35.56
  37.33
  39.20
  41.16
  43.22
PV of cash for distribution, $m
 
  0
  1,789
  1,638
  1,485
  1,333
  1,182
  1,036
  896
  765
  643
  517
  421
  337
  264
  203
  153
  113
  81
  57
  39
  26
  17
  10
  6
  4
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Internet Gold - Golden Lines Ltd. provides various telecommunications services in Israel. It operates through Fixed Line Domestic Communications; Cellular Communications; International Communications, Internet Services and Network End Point; and Multichannel Television segments. The company offers domestic fixed-line, cellular and international communication, Internet, multi-channel television, television and radio broadcasting, satellite broadcasting, and customer call center services. It also provides communications infrastructure maintenance and development, as well as communications services to other communications providers; and engages in the supply and maintenance of equipment on customer premises. The company was founded in 1980 and is headquartered in Ramat Gan, Israel. Internet Gold - Golden Lines Ltd. is a subsidiary of Eurocom Communications Ltd.

FINANCIAL RATIOS  of  Internet Gold-Golden Lines (IGLD)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

IGLD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IGLD stock intrinsic value calculation we used $9985 million for the last fiscal year's total revenue generated by Internet Gold-Golden Lines. The default revenue input number comes from income statement of Internet Gold-Golden Lines. 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 IGLD 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 10.5%, whose default value for IGLD is calculated based on our internal credit rating of Internet Gold-Golden Lines, 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 Internet Gold-Golden Lines.
    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 IGLD stock the variable cost ratio is equal to 71.6%.

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 IGLD 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 5.4% for Internet Gold-Golden Lines.

Corporate tax rate of 27% is the nominal tax rate for Internet Gold-Golden Lines. 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 IGLD 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 IGLD are equal to 107.7%.

Life of production assets of 6.4 years is the average useful life of capital assets used in Internet Gold-Golden Lines 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 IGLD is equal to -5.2%. 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 - $-93 million for Internet Gold-Golden Lines - 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 19.598 million for Internet Gold-Golden Lines 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 Internet Gold-Golden Lines at the current share price and the inputted number of shares is $0.2 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
CEL Cellcom Israel 9.15 prem.  prem.
PTNR Partner Commun 5.47 prem.  prem.
TI Telecom Italia 9.09 prem.  prem.
BCOM B Communicatio 18.06 prem.  prem.
ORAN Orange ADR 16.07 prem.  prem.
MSI Motorola Solut 88.42 prem.  prem.
BT BT Group ADR 18.62 prem.  prem.

COMPANY NEWS

▶ Internet Gold posts 1Q profit   [May-18-17 07:02AM  Associated Press]
▶ Gold Bulls In Control After Brexit (GLD, PHYS)   [Jun-27-16 12:32PM  Investopedia]
▶ Gold Bulls In Control After Brexit (GLD, PHYS)   [12:32PM  at Investopedia]
▶ INTERNET GOLD GOLDEN LINES LTD Financials   [01:04PM  EDGAR Online Financials]
▶ The Top 5 Micro Cap Technology Stocks for 2016 (IGLD,NCIT)   [Jan-26-16 07:24AM  at Investopedia]
▶ Internet Gold posts 3Q profit   [Nov-19  07:23AM  AP]
▶ B Communications Announces Payment of Dividend   [Aug-31  06:20AM  Business Wire]
▶ Premarkets: Stocks steadier after Syria sell-off   [Aug-28  07:15AM  at CNNMoney.com]
▶ Bezeqs Mizrahi Seeks to Keep Dividend While Cutting Debt   [May-30  03:36AM  at Bloomberg]
▶ Teva Jumps on Move Into Branded Drugs: Israel Overnight   [Sep-27-12 06:00PM  at Bloomberg]
▶ Israel Stocks: Africa-Israel, Alvarion, Bezeq, Suny   [Jun-06-12 10:00AM  at Bloomberg]
▶ Euro Woes Spur Discount to S&P 500: Israel Overnight   [May-20-12 03:18AM  at Bloomberg]
Stock chart of IGLD Financial statements of IGLD Annual reports of IGLD
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.