Intrinsic value of ILG - ILG

Previous Close

$34.43

  Intrinsic Value

$7.55

stock screener

  Rating & Target

str. sell

-78%

Previous close

$34.43

 
Intrinsic value

$7.55

 
Up/down potential

-78%

 
Rating

str. sell

We calculate the intrinsic value of ILG 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  94.55
  31.70
  29.03
  26.63
  24.46
  22.52
  20.77
  19.19
  17.77
  16.49
  15.34
  14.31
  13.38
  12.54
  11.79
  11.11
  10.50
  9.95
  9.45
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
  6.40
  6.26
Revenue, $m
  1,356
  2,352
  3,035
  3,843
  4,783
  5,860
  7,077
  8,436
  9,935
  11,573
  13,349
  15,259
  17,301
  19,470
  21,765
  24,183
  26,721
  29,379
  32,157
  35,053
  38,070
  41,209
  44,474
  47,867
  51,393
  55,057
  58,865
  62,824
  66,941
  71,223
  75,680
Variable operating expenses, $m
 
  1,998
  2,549
  3,201
  3,960
  4,828
  5,810
  6,906
  8,115
  9,437
  10,870
  12,311
  13,958
  15,708
  17,560
  19,510
  21,558
  23,703
  25,943
  28,280
  30,714
  33,247
  35,881
  38,618
  41,463
  44,419
  47,492
  50,685
  54,007
  57,462
  61,057
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
  1,008
  1,998
  2,549
  3,201
  3,960
  4,828
  5,810
  6,906
  8,115
  9,437
  10,870
  12,311
  13,958
  15,708
  17,560
  19,510
  21,558
  23,703
  25,943
  28,280
  30,714
  33,247
  35,881
  38,618
  41,463
  44,419
  47,492
  50,685
  54,007
  57,462
  61,057
Operating income, $m
  348
  354
  486
  642
  824
  1,032
  1,267
  1,529
  1,819
  2,136
  2,479
  2,948
  3,343
  3,762
  4,205
  4,672
  5,163
  5,677
  6,213
  6,773
  7,356
  7,962
  8,593
  9,249
  9,930
  10,638
  11,374
  12,139
  12,934
  13,761
  14,622
EBITDA, $m
  410
  666
  859
  1,088
  1,354
  1,659
  2,004
  2,388
  2,813
  3,277
  3,779
  4,320
  4,898
  5,512
  6,162
  6,847
  7,565
  8,318
  9,104
  9,924
  10,778
  11,667
  12,591
  13,552
  14,550
  15,587
  16,666
  17,786
  18,952
  20,164
  21,426
Interest expense (income), $m
  24
  61
  96
  137
  186
  243
  308
  382
  464
  555
  654
  761
  877
  1,001
  1,132
  1,271
  1,417
  1,571
  1,732
  1,900
  2,075
  2,258
  2,448
  2,646
  2,851
  3,065
  3,286
  3,517
  3,757
  4,006
  4,265
Earnings before tax, $m
  324
  293
  390
  505
  638
  789
  959
  1,148
  1,355
  1,581
  1,825
  2,187
  2,466
  2,761
  3,073
  3,402
  3,746
  4,106
  4,481
  4,873
  5,280
  5,704
  6,145
  6,603
  7,079
  7,573
  8,087
  8,622
  9,177
  9,756
  10,357
Tax expense, $m
  57
  79
  105
  136
  172
  213
  259
  310
  366
  427
  493
  590
  666
  746
  830
  918
  1,011
  1,109
  1,210
  1,316
  1,426
  1,540
  1,659
  1,783
  1,911
  2,045
  2,184
  2,328
  2,478
  2,634
  2,796
Net income, $m
  265
  214
  285
  369
  466
  576
  700
  838
  989
  1,154
  1,332
  1,596
  1,800
  2,016
  2,244
  2,483
  2,734
  2,997
  3,271
  3,557
  3,855
  4,164
  4,486
  4,820
  5,168
  5,529
  5,904
  6,294
  6,699
  7,122
  7,561

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  126
  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
  3,304
  4,830
  6,232
  7,891
  9,822
  12,034
  14,533
  17,321
  20,399
  23,764
  27,410
  31,333
  35,525
  39,980
  44,692
  49,657
  54,869
  60,327
  66,030
  71,978
  78,173
  84,619
  91,322
  98,289
  105,530
  113,054
  120,873
  129,002
  137,455
  146,249
  155,400
Adjusted assets (=assets-cash), $m
  3,178
  4,830
  6,232
  7,891
  9,822
  12,034
  14,533
  17,321
  20,399
  23,764
  27,410
  31,333
  35,525
  39,980
  44,692
  49,657
  54,869
  60,327
  66,030
  71,978
  78,173
  84,619
  91,322
  98,289
  105,530
  113,054
  120,873
  129,002
  137,455
  146,249
  155,400
Revenue / Adjusted assets
  0.427
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
  0.487
Average production assets, $m
  687
  2,115
  2,728
  3,455
  4,300
  5,269
  6,363
  7,584
  8,931
  10,404
  12,001
  13,718
  15,553
  17,504
  19,567
  21,740
  24,022
  26,412
  28,909
  31,513
  34,225
  37,047
  39,982
  43,032
  46,202
  49,496
  52,920
  56,479
  60,180
  64,030
  68,036
Working capital, $m
  227
  675
  871
  1,103
  1,373
  1,682
  2,031
  2,421
  2,851
  3,321
  3,831
  4,379
  4,965
  5,588
  6,247
  6,940
  7,669
  8,432
  9,229
  10,060
  10,926
  11,827
  12,764
  13,738
  14,750
  15,801
  16,894
  18,030
  19,212
  20,441
  21,720
Total debt, $m
  691
  1,769
  2,535
  3,441
  4,495
  5,702
  7,067
  8,589
  10,270
  12,107
  14,098
  16,240
  18,529
  20,961
  23,534
  26,245
  29,091
  32,071
  35,184
  38,432
  41,814
  45,334
  48,994
  52,798
  56,751
  60,859
  65,129
  69,567
  74,182
  78,984
  83,981
Total liabilities, $m
  1,737
  2,637
  3,403
  4,309
  5,363
  6,570
  7,935
  9,457
  11,138
  12,975
  14,966
  17,108
  19,397
  21,829
  24,402
  27,113
  29,959
  32,939
  36,052
  39,300
  42,682
  46,202
  49,862
  53,666
  57,619
  61,727
  65,997
  70,435
  75,050
  79,852
  84,849
Total equity, $m
  1,567
  2,193
  2,829
  3,583
  4,459
  5,463
  6,598
  7,864
  9,261
  10,789
  12,444
  14,225
  16,128
  18,151
  20,290
  22,544
  24,911
  27,389
  29,978
  32,678
  35,490
  38,417
  41,460
  44,623
  47,910
  51,326
  54,876
  58,567
  62,405
  66,397
  70,552
Total liabilities and equity, $m
  3,304
  4,830
  6,232
  7,892
  9,822
  12,033
  14,533
  17,321
  20,399
  23,764
  27,410
  31,333
  35,525
  39,980
  44,692
  49,657
  54,870
  60,328
  66,030
  71,978
  78,172
  84,619
  91,322
  98,289
  105,529
  113,053
  120,873
  129,002
  137,455
  146,249
  155,401
Debt-to-equity ratio
  0.441
  0.810
  0.900
  0.960
  1.010
  1.040
  1.070
  1.090
  1.110
  1.120
  1.130
  1.140
  1.150
  1.150
  1.160
  1.160
  1.170
  1.170
  1.170
  1.180
  1.180
  1.180
  1.180
  1.180
  1.180
  1.190
  1.190
  1.190
  1.190
  1.190
  1.190
Adjusted equity ratio
  0.453
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454
  0.454

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  265
  214
  285
  369
  466
  576
  700
  838
  989
  1,154
  1,332
  1,596
  1,800
  2,016
  2,244
  2,483
  2,734
  2,997
  3,271
  3,557
  3,855
  4,164
  4,486
  4,820
  5,168
  5,529
  5,904
  6,294
  6,699
  7,122
  7,561
Depreciation, amort., depletion, $m
  62
  312
  373
  446
  530
  627
  737
  859
  994
  1,141
  1,300
  1,372
  1,555
  1,750
  1,957
  2,174
  2,402
  2,641
  2,891
  3,151
  3,423
  3,705
  3,998
  4,303
  4,620
  4,950
  5,292
  5,648
  6,018
  6,403
  6,804
Funds from operations, $m
  -100
  526
  658
  815
  996
  1,203
  1,437
  1,697
  1,983
  2,295
  2,633
  2,968
  3,355
  3,766
  4,200
  4,657
  5,137
  5,638
  6,162
  6,708
  7,277
  7,869
  8,484
  9,123
  9,788
  10,478
  11,196
  11,942
  12,717
  13,524
  14,365
Change in working capital, $m
  -93
  162
  196
  232
  270
  309
  349
  390
  430
  470
  510
  548
  586
  623
  659
  694
  729
  763
  797
  831
  866
  901
  937
  974
  1,012
  1,052
  1,093
  1,136
  1,181
  1,229
  1,279
Cash from operations, $m
  -7
  363
  462
  583
  726
  894
  1,088
  1,307
  1,553
  1,825
  2,123
  2,420
  2,769
  3,144
  3,542
  3,963
  4,408
  4,875
  5,365
  5,877
  6,411
  6,968
  7,547
  8,150
  8,776
  9,427
  10,103
  10,805
  11,536
  12,295
  13,085
Maintenance CAPEX, $m
  0
  -161
  -211
  -273
  -345
  -430
  -527
  -636
  -758
  -893
  -1,040
  -1,200
  -1,372
  -1,555
  -1,750
  -1,957
  -2,174
  -2,402
  -2,641
  -2,891
  -3,151
  -3,423
  -3,705
  -3,998
  -4,303
  -4,620
  -4,950
  -5,292
  -5,648
  -6,018
  -6,403
New CAPEX, $m
  -95
  -509
  -614
  -727
  -845
  -968
  -1,094
  -1,221
  -1,348
  -1,473
  -1,596
  -1,717
  -1,835
  -1,951
  -2,063
  -2,174
  -2,282
  -2,390
  -2,497
  -2,604
  -2,712
  -2,822
  -2,935
  -3,050
  -3,170
  -3,294
  -3,424
  -3,559
  -3,701
  -3,850
  -4,007
Cash from investing activities, $m
  -189
  -670
  -825
  -1,000
  -1,190
  -1,398
  -1,621
  -1,857
  -2,106
  -2,366
  -2,636
  -2,917
  -3,207
  -3,506
  -3,813
  -4,131
  -4,456
  -4,792
  -5,138
  -5,495
  -5,863
  -6,245
  -6,640
  -7,048
  -7,473
  -7,914
  -8,374
  -8,851
  -9,349
  -9,868
  -10,410
Free cash flow, $m
  -196
  -307
  -363
  -417
  -464
  -504
  -533
  -550
  -553
  -541
  -514
  -497
  -438
  -362
  -272
  -167
  -48
  84
  227
  382
  548
  723
  908
  1,101
  1,303
  1,512
  1,730
  1,955
  2,187
  2,428
  2,676
Issuance/(repayment) of debt, $m
  440
  632
  766
  906
  1,054
  1,208
  1,364
  1,523
  1,681
  1,837
  1,991
  2,142
  2,289
  2,432
  2,573
  2,711
  2,846
  2,980
  3,114
  3,247
  3,382
  3,520
  3,660
  3,804
  3,953
  4,108
  4,270
  4,438
  4,615
  4,801
  4,997
Issuance/(repurchase) of shares, $m
  -101
  313
  352
  385
  411
  428
  434
  428
  408
  373
  323
  184
  103
  7
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  286
  945
  1,118
  1,291
  1,465
  1,636
  1,798
  1,951
  2,089
  2,210
  2,314
  2,326
  2,392
  2,439
  2,573
  2,711
  2,846
  2,980
  3,114
  3,247
  3,382
  3,520
  3,660
  3,804
  3,953
  4,108
  4,270
  4,438
  4,615
  4,801
  4,997
Total cash flow (excl. dividends), $m
  85
  639
  754
  874
  1,000
  1,131
  1,265
  1,401
  1,535
  1,669
  1,800
  1,829
  1,954
  2,077
  2,301
  2,544
  2,798
  3,064
  3,341
  3,630
  3,930
  4,243
  4,568
  4,905
  5,256
  5,620
  5,999
  6,393
  6,803
  7,229
  7,673
Retained Cash Flow (-), $m
  -1,135
  -527
  -637
  -753
  -876
  -1,004
  -1,135
  -1,266
  -1,397
  -1,528
  -1,655
  -1,781
  -1,903
  -2,023
  -2,139
  -2,254
  -2,367
  -2,478
  -2,589
  -2,700
  -2,813
  -2,927
  -3,043
  -3,163
  -3,287
  -3,416
  -3,550
  -3,691
  -3,838
  -3,992
  -4,155
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
 
  21
  28
  36
  46
  57
  70
  85
  101
  119
  139
  160
  183
  208
  234
  261
  290
  321
  353
  386
  421
  457
  495
  534
  574
  617
  661
  706
  754
  803
  855
Cash available for distribution, $m
 
  112
  118
  121
  124
  127
  131
  134
  138
  141
  145
  48
  51
  54
  162
  290
  431
  586
  752
  929
  1,118
  1,316
  1,524
  1,742
  1,969
  2,204
  2,449
  2,702
  2,965
  3,237
  3,518
Discount rate, %
 
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
 
  104
  101
  96
  90
  83
  77
  70
  63
  56
  50
  14
  12
  11
  27
  38
  45
  47
  46
  43
  38
  32
  26
  20
  15
  11
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100
  93.2
  87.7
  83.3
  79.7
  76.8
  74.5
  72.7
  71.2
  70.1
  69.3
  68.9
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7
  68.7

ILG, Inc., formerly Interval Leisure Group, Inc., is a provider of professionally delivered vacation experiences. The Company is a global licensee for the Hyatt, Westin and Sheraton brands in vacation ownership. The Company operates through two segments: Exchange and Rental, and Vacation Ownership. Its Exchange and Rental segment offers access to vacation accommodations and other travel-related transactions and services to leisure travelers, by providing vacation exchange services and vacation rental, working with resort developers and operating vacation rental properties. Its Vacation Ownership segment engages in the management of vacation ownership resorts; sales, marketing, and financing of vacation ownership interests, and related services to owners and associations. The Company offers leisure and travel-related products and services to owners of vacation interests and others primarily through various membership programs, as well as related services to resort developer clients.

FINANCIAL RATIOS  of  ILG (ILG)

Valuation Ratios
P/E Ratio 16.2
Price to Sales 3.2
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow -613.2
Price to Free Cash Flow -42.1
Growth Rates
Sales Growth Rate 94.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 375%
Cap. Spend. - 3 Yr. Gr. Rate 41.1%
Financial Strength
Quick Ratio 1
Current Ratio 0.3
LT Debt to Equity 37%
Total Debt to Equity 44.1%
Interest Coverage 15
Management Effectiveness
Return On Assets 12.4%
Ret/ On Assets - 3 Yr. Avg. 8.6%
Return On Total Capital 17.1%
Ret/ On T. Cap. - 3 Yr. Avg. 12.1%
Return On Equity 26.5%
Return On Equity - 3 Yr. Avg. 22%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 49.2%
Gross Margin - 3 Yr. Avg. 53.6%
EBITDA Margin 30.2%
EBITDA Margin - 3 Yr. Avg. 26.6%
Operating Margin 25.7%
Oper. Margin - 3 Yr. Avg. 21.6%
Pre-Tax Margin 23.9%
Pre-Tax Margin - 3 Yr. Avg. 20.4%
Net Profit Margin 19.5%
Net Profit Margin - 3 Yr. Avg. 14.3%
Effective Tax Rate 17.6%
Eff/ Tax Rate - 3 Yr. Avg. 29.5%
Payout Ratio 19.6%

ILG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ILG stock intrinsic value calculation we used $1786 million for the last fiscal year's total revenue generated by ILG. The default revenue input number comes from 2016 income statement of ILG. 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 ILG stock valuation model: a) initial revenue growth rate of 31.7% 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 7.3%, whose default value for ILG is calculated based on our internal credit rating of ILG, 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 ILG.
    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 ILG stock the variable cost ratio is equal to 86.3%.

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 ILG 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 ILG.

Corporate tax rate of 27% is the nominal tax rate for ILG. 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 ILG stock is equal to 1.2%.

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 ILG are equal to 89.9%.

Life of production assets of 10 years is the average useful life of capital assets used in ILG 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 ILG is equal to 28.7%. 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 - $1666 million for ILG - 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 124 million for ILG 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 ILG at the current share price and the inputted number of shares is $4.3 billion.

RELATED COMPANIES Price Int.Val. Rating
WYN Wyndham Worldw 108.44 56.34  sell
VAC Marriott Vacat 120.07 122.21  hold
HGV Hilton Grand V 34.83 41.20  hold
MAR Marriott Inter 133.20 361.06  str.buy
HLT Hilton Worldwi 82.14 132.77  str.buy
VVI Viad 57.05 184.43  str.buy
TRIP TripAdvisor 60.68 18.16  str.sell

COMPANY NEWS

▶ The Hitch in Marriott Vacations' Acquisition of ILG   [May-17-18 05:40PM  Motley Fool]
▶ ILG Reports First Quarter 2018 Results   [08:00AM  Business Wire]
▶ [$$] Marriott Vacations Buying Timeshare Operator ILG for $4.7 Billion   [Apr-30-18 07:51PM  The Wall Street Journal]
▶ Marriott Vacations Worldwide to acquire Miami-based ILG   [09:28AM  American City Business Journals]
▶ Marriott Vacations Worldwide Corp. agrees to acquire Miami-based ILG   [07:48AM  American City Business Journals]
▶ ILG Issues Statement   [Mar-16-18 04:05PM  Business Wire]
▶ FrontFour Issues Public Letter To ILG Board   [Mar-15-18 05:27PM  PR Newswire]
▶ Why ILG Inc. Stock Jumped Today   [Mar-01-18 04:33PM  Motley Fool]
▶ ILG Reports Fourth Quarter and Full Year 2017 Results   [Feb-28-18 04:05PM  Business Wire]
▶ ILG, Inc. to Host Earnings Call   [10:00AM  ACCESSWIRE]
▶ ILG Announces Dividend Increase   [Feb-21-18 05:28PM  Business Wire]
▶ ILG Terminates Stockholder Rights Plan   [Dec-06-17 04:05PM  Business Wire]
▶ ETFs with exposure to ILG, Inc. : November 28, 2017   [Nov-28-17 12:26PM  Capital Cube]
▶ ILG, Inc. Value Analysis (NASDAQ:ILG) : November 24, 2017   [Nov-24-17 11:23AM  Capital Cube]
▶ ILG Reports Third Quarter 2017 Results   [Nov-07-17 04:05PM  Business Wire]
▶ ILG, Inc. to Host Earnings Call   [12:40PM  ACCESSWIRE]
▶ ILG Shows Rising Price Performance With Jump To 91 RS Rating   [Oct-04-17 03:00AM  Investor's Business Daily]
▶ ILG Stock Spikes on Takeover Offer from Marriott Vacations   [Oct-03-17 04:07PM  TheStreet.com]
▶ ILG Completes Securitization of Vacation Ownership Notes   [Sep-22-17 10:45AM  Business Wire]
▶ ETFs with exposure to ILG, Inc. : August 29, 2017   [Aug-29-17 07:28PM  Capital Cube]
Financial statements of ILG
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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