Intrinsic value of Innospec - IOSP

Previous Close

$57.00

  Intrinsic Value

$1,109

stock screener

  Rating & Target

str. buy

+999%

  Value-price divergence*

+976%

Previous close

$57.00

 
Intrinsic value

$1,109

 
Up/down potential

+999%

 
Rating

str. buy

 
Value-price divergence*

+976%

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

We calculate the intrinsic value of IOSP 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 1.4

 

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, %
  -12.75
  43.00
  39.20
  35.78
  32.70
  29.93
  27.44
  25.19
  23.18
  21.36
  19.72
  18.25
  16.92
  15.73
  14.66
  13.69
  12.82
  12.04
  11.34
  10.70
  10.13
  9.62
  9.16
  8.74
  8.37
  8.03
  7.73
  7.46
  7.21
  6.99
  6.79
Revenue, $m
  883
  1,263
  1,758
  2,387
  3,167
  4,115
  5,244
  6,565
  8,087
  9,814
  11,749
  13,894
  16,245
  18,801
  21,557
  24,509
  27,652
  30,981
  34,494
  38,186
  42,055
  46,101
  50,323
  54,722
  59,301
  64,064
  69,015
  74,160
  79,507
  85,063
  90,839
Variable operating expenses, $m
 
  748
  1,026
  1,380
  1,819
  2,352
  2,987
  3,731
  4,587
  5,558
  6,647
  7,816
  9,138
  10,576
  12,126
  13,787
  15,555
  17,428
  19,404
  21,481
  23,657
  25,933
  28,308
  30,783
  33,359
  36,038
  38,823
  41,717
  44,725
  47,851
  51,100
Fixed operating expenses, $m
 
  256
  263
  269
  276
  283
  290
  297
  305
  312
  320
  328
  336
  345
  353
  362
  371
  380
  390
  400
  410
  420
  430
  441
  452
  463
  475
  487
  499
  512
  524
Total operating expenses, $m
  778
  1,004
  1,289
  1,649
  2,095
  2,635
  3,277
  4,028
  4,892
  5,870
  6,967
  8,144
  9,474
  10,921
  12,479
  14,149
  15,926
  17,808
  19,794
  21,881
  24,067
  26,353
  28,738
  31,224
  33,811
  36,501
  39,298
  42,204
  45,224
  48,363
  51,624
Operating income, $m
  105
  259
  469
  737
  1,072
  1,480
  1,967
  2,537
  3,196
  3,944
  4,782
  5,750
  6,771
  7,880
  9,077
  10,360
  11,726
  13,173
  14,700
  16,306
  17,988
  19,748
  21,584
  23,498
  25,490
  27,563
  29,717
  31,956
  34,283
  36,701
  39,215
EBITDA, $m
  143
  321
  541
  822
  1,172
  1,599
  2,108
  2,705
  3,394
  4,176
  5,053
  6,026
  7,093
  8,254
  9,506
  10,847
  12,275
  13,789
  15,386
  17,064
  18,824
  20,664
  22,584
  24,586
  26,669
  28,836
  31,088
  33,429
  35,863
  38,391
  41,020
Interest expense (income), $m
  3
  9
  17
  27
  40
  56
  75
  98
  125
  156
  191
  231
  275
  323
  375
  431
  491
  555
  623
  695
  770
  849
  932
  1,018
  1,108
  1,201
  1,299
  1,400
  1,505
  1,614
  1,727
Earnings before tax, $m
  103
  250
  452
  710
  1,032
  1,424
  1,892
  2,439
  3,071
  3,787
  4,591
  5,519
  6,496
  7,558
  8,702
  9,929
  11,234
  12,618
  14,077
  15,610
  17,218
  18,898
  20,652
  22,480
  24,382
  26,361
  28,418
  30,556
  32,778
  35,087
  37,488
Tax expense, $m
  22
  67
  122
  192
  279
  384
  511
  659
  829
  1,023
  1,240
  1,490
  1,754
  2,041
  2,350
  2,681
  3,033
  3,407
  3,801
  4,215
  4,649
  5,103
  5,576
  6,070
  6,583
  7,118
  7,673
  8,250
  8,850
  9,474
  10,122
Net income, $m
  81
  182
  330
  519
  754
  1,040
  1,381
  1,781
  2,241
  2,765
  3,351
  4,029
  4,742
  5,517
  6,353
  7,248
  8,201
  9,211
  10,276
  11,396
  12,569
  13,796
  15,076
  16,410
  17,799
  19,244
  20,745
  22,306
  23,928
  25,614
  27,366

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  102
  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
  1,181
  1,544
  2,149
  2,918
  3,872
  5,031
  6,411
  8,026
  9,886
  11,997
  14,364
  16,985
  19,860
  22,984
  26,353
  29,962
  33,804
  37,875
  42,169
  46,682
  51,413
  56,358
  61,520
  66,898
  72,496
  78,318
  84,370
  90,660
  97,197
  103,989
  111,050
Adjusted assets (=assets-cash), $m
  1,079
  1,544
  2,149
  2,918
  3,872
  5,031
  6,411
  8,026
  9,886
  11,997
  14,364
  16,985
  19,860
  22,984
  26,353
  29,962
  33,804
  37,875
  42,169
  46,682
  51,413
  56,358
  61,520
  66,898
  72,496
  78,318
  84,370
  90,660
  97,197
  103,989
  111,050
Revenue / Adjusted assets
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
  0.818
Average production assets, $m
  274
  391
  545
  740
  982
  1,276
  1,626
  2,035
  2,507
  3,042
  3,642
  4,307
  5,036
  5,828
  6,683
  7,598
  8,572
  9,604
  10,693
  11,838
  13,037
  14,291
  15,600
  16,964
  18,383
  19,860
  21,395
  22,990
  24,647
  26,370
  28,160
Working capital, $m
  258
  240
  334
  453
  602
  782
  996
  1,247
  1,536
  1,865
  2,232
  2,640
  3,087
  3,572
  4,096
  4,657
  5,254
  5,886
  6,554
  7,255
  7,991
  8,759
  9,561
  10,397
  11,267
  12,172
  13,113
  14,090
  15,106
  16,162
  17,259
Total debt, $m
  273
  482
  771
  1,138
  1,593
  2,146
  2,804
  3,574
  4,462
  5,469
  6,597
  7,848
  9,219
  10,709
  12,316
  14,038
  15,871
  17,812
  19,860
  22,013
  24,270
  26,629
  29,091
  31,656
  34,326
  37,104
  39,991
  42,991
  46,109
  49,349
  52,717
Total liabilities, $m
  528
  736
  1,025
  1,392
  1,847
  2,400
  3,058
  3,828
  4,716
  5,723
  6,851
  8,102
  9,473
  10,963
  12,570
  14,292
  16,125
  18,066
  20,114
  22,267
  24,524
  26,883
  29,345
  31,910
  34,580
  37,358
  40,245
  43,245
  46,363
  49,603
  52,971
Total equity, $m
  654
  807
  1,124
  1,526
  2,025
  2,631
  3,353
  4,198
  5,170
  6,275
  7,512
  8,883
  10,387
  12,021
  13,783
  15,670
  17,680
  19,808
  22,054
  24,415
  26,889
  29,475
  32,175
  34,988
  37,915
  40,960
  44,126
  47,415
  50,834
  54,386
  58,079
Total liabilities and equity, $m
  1,182
  1,543
  2,149
  2,918
  3,872
  5,031
  6,411
  8,026
  9,886
  11,998
  14,363
  16,985
  19,860
  22,984
  26,353
  29,962
  33,805
  37,874
  42,168
  46,682
  51,413
  56,358
  61,520
  66,898
  72,495
  78,318
  84,371
  90,660
  97,197
  103,989
  111,050
Debt-to-equity ratio
  0.417
  0.600
  0.690
  0.750
  0.790
  0.820
  0.840
  0.850
  0.860
  0.870
  0.880
  0.880
  0.890
  0.890
  0.890
  0.900
  0.900
  0.900
  0.900
  0.900
  0.900
  0.900
  0.900
  0.900
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
  0.910
Adjusted equity ratio
  0.512
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523
  0.523

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  81
  182
  330
  519
  754
  1,040
  1,381
  1,781
  2,241
  2,765
  3,351
  4,029
  4,742
  5,517
  6,353
  7,248
  8,201
  9,211
  10,276
  11,396
  12,569
  13,796
  15,076
  16,410
  17,799
  19,244
  20,745
  22,306
  23,928
  25,614
  27,366
Depreciation, amort., depletion, $m
  38
  63
  72
  85
  100
  119
  142
  168
  198
  233
  271
  276
  323
  374
  428
  487
  549
  616
  685
  759
  836
  916
  1,000
  1,087
  1,178
  1,273
  1,371
  1,474
  1,580
  1,690
  1,805
Funds from operations, $m
  93
  245
  402
  603
  854
  1,159
  1,523
  1,949
  2,440
  2,997
  3,622
  4,305
  5,065
  5,891
  6,781
  7,735
  8,751
  9,826
  10,961
  12,154
  13,405
  14,712
  16,076
  17,498
  18,978
  20,517
  22,117
  23,780
  25,508
  27,304
  29,171
Change in working capital, $m
  -12
  72
  94
  119
  148
  180
  215
  251
  289
  328
  368
  407
  447
  486
  524
  561
  597
  633
  667
  701
  735
  769
  802
  836
  870
  905
  941
  978
  1,016
  1,056
  1,097
Cash from operations, $m
  105
  173
  308
  484
  706
  979
  1,308
  1,698
  2,151
  2,669
  3,255
  3,898
  4,618
  5,405
  6,257
  7,174
  8,153
  9,194
  10,294
  11,453
  12,670
  13,943
  15,274
  16,662
  18,108
  19,612
  21,176
  22,802
  24,492
  26,248
  28,074
Maintenance CAPEX, $m
  0
  -18
  -25
  -35
  -47
  -63
  -82
  -104
  -130
  -161
  -195
  -233
  -276
  -323
  -374
  -428
  -487
  -549
  -616
  -685
  -759
  -836
  -916
  -1,000
  -1,087
  -1,178
  -1,273
  -1,371
  -1,474
  -1,580
  -1,690
New CAPEX, $m
  -17
  -118
  -153
  -195
  -242
  -294
  -350
  -410
  -472
  -535
  -600
  -665
  -729
  -792
  -854
  -915
  -974
  -1,032
  -1,089
  -1,145
  -1,200
  -1,254
  -1,309
  -1,364
  -1,420
  -1,476
  -1,535
  -1,595
  -1,657
  -1,723
  -1,790
Cash from investing activities, $m
  -209
  -136
  -178
  -230
  -289
  -357
  -432
  -514
  -602
  -696
  -795
  -898
  -1,005
  -1,115
  -1,228
  -1,343
  -1,461
  -1,581
  -1,705
  -1,830
  -1,959
  -2,090
  -2,225
  -2,364
  -2,507
  -2,654
  -2,808
  -2,966
  -3,131
  -3,303
  -3,480
Free cash flow, $m
  -104
  37
  130
  254
  416
  622
  876
  1,184
  1,548
  1,973
  2,460
  2,999
  3,613
  4,290
  5,030
  5,831
  6,692
  7,612
  8,590
  9,623
  10,711
  11,853
  13,049
  14,298
  15,601
  16,957
  18,368
  19,836
  21,361
  22,946
  24,593
Issuance/(repayment) of debt, $m
  137
  221
  289
  367
  455
  553
  658
  770
  887
  1,007
  1,129
  1,250
  1,371
  1,490
  1,607
  1,721
  1,833
  1,942
  2,048
  2,153
  2,256
  2,359
  2,462
  2,565
  2,670
  2,777
  2,887
  3,000
  3,118
  3,240
  3,368
Issuance/(repurchase) of shares, $m
  -6
  61
  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  
  87
  282
  289
  367
  455
  553
  658
  770
  887
  1,007
  1,129
  1,250
  1,371
  1,490
  1,607
  1,721
  1,833
  1,942
  2,048
  2,153
  2,256
  2,359
  2,462
  2,565
  2,670
  2,777
  2,887
  3,000
  3,118
  3,240
  3,368
Total cash flow (excl. dividends), $m
  -19
  320
  418
  621
  871
  1,175
  1,535
  1,954
  2,436
  2,980
  3,588
  4,250
  4,984
  5,780
  6,637
  7,552
  8,525
  9,554
  10,638
  11,776
  12,968
  14,213
  15,511
  16,864
  18,271
  19,734
  21,255
  22,836
  24,479
  26,186
  27,961
Retained Cash Flow (-), $m
  -49
  -243
  -316
  -402
  -499
  -606
  -722
  -845
  -973
  -1,104
  -1,237
  -1,371
  -1,503
  -1,634
  -1,762
  -1,887
  -2,010
  -2,129
  -2,246
  -2,361
  -2,474
  -2,587
  -2,699
  -2,813
  -2,928
  -3,045
  -3,165
  -3,290
  -3,418
  -3,553
  -3,693
Prev. year cash balance distribution, $m
 
  90
  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
 
  166
  102
  219
  372
  569
  813
  1,110
  1,463
  1,876
  2,351
  2,879
  3,481
  4,146
  4,875
  5,665
  6,515
  7,425
  8,392
  9,415
  10,494
  11,626
  12,812
  14,051
  15,343
  16,689
  18,090
  19,546
  21,060
  22,633
  24,268
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
 
  159
  93
  190
  307
  441
  590
  750
  914
  1,078
  1,232
  1,367
  1,485
  1,576
  1,636
  1,663
  1,656
  1,616
  1,545
  1,450
  1,333
  1,203
  1,063
  921
  781
  649
  528
  420
  326
  247
  183
Current shareholders' claim on cash, %
  100
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0
  95.0

Innospec Inc. is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives. Its Fuel Specialties develops, manufactures, blends, markets and supplies various specialty chemical products that are used as additives for a range of fuels. Its Performance Chemicals provides technology-based solutions. Its Oilfield Services business supplies drilling, completion and production chemicals. Its Octane Additives business manufactures a fuel additive for use in automotive gasoline and provides services in respect of environmental remediation. Its customers include oil and gas exploration and production companies, fuel users, and oil refiners among others.

FINANCIAL RATIOS  of  Innospec (IOSP)

Valuation Ratios
P/E Ratio 16.9
Price to Sales 1.6
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 13.1
Price to Free Cash Flow 15.6
Growth Rates
Sales Growth Rate -12.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -34.6%
Cap. Spend. - 3 Yr. Gr. Rate -4.1%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 39.9%
Total Debt to Equity 41.7%
Interest Coverage 35
Management Effectiveness
Return On Assets 7.5%
Ret/ On Assets - 3 Yr. Avg. 9.7%
Return On Total Capital 9.7%
Ret/ On T. Cap. - 3 Yr. Avg. 13.6%
Return On Equity 12.9%
Return On Equity - 3 Yr. Avg. 17.5%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 37.6%
Gross Margin - 3 Yr. Avg. 34.4%
EBITDA Margin 16.3%
EBITDA Margin - 3 Yr. Avg. 16.6%
Operating Margin 11.9%
Oper. Margin - 3 Yr. Avg. 13%
Pre-Tax Margin 11.7%
Pre-Tax Margin - 3 Yr. Avg. 12.7%
Net Profit Margin 9.2%
Net Profit Margin - 3 Yr. Avg. 9.9%
Effective Tax Rate 21.4%
Eff/ Tax Rate - 3 Yr. Avg. 22.2%
Payout Ratio 19.8%

IOSP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IOSP stock intrinsic value calculation we used $883 million for the last fiscal year's total revenue generated by Innospec. The default revenue input number comes from 2016 income statement of Innospec. 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 IOSP stock valuation model: a) initial revenue growth rate of 43% 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 IOSP is calculated based on our internal credit rating of Innospec, 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 Innospec.
    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 IOSP stock the variable cost ratio is equal to 60.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $250 million in the base year in the intrinsic value calculation for IOSP 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 Innospec.

Corporate tax rate of 27% is the nominal tax rate for Innospec. 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 IOSP 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 IOSP are equal to 31%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Innospec 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 IOSP is equal to 19%. 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 - $654 million for Innospec - 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 23.814 million for Innospec 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 Innospec at the current share price and the inputted number of shares is $1.4 billion.

RELATED COMPANIES Price Int.Val. Rating
NEU NewMarket 418.39 332.78  sell
CDTI Clean Diesel T 2.00 0.14  str.sell
GRA W.R. Grace 72.79 59.00  hold
ACET Aceto 10.44 43.50  str.buy

COMPANY NEWS

▶ Innospec ECOCLEAN® Additive Approved for TOP TIER Diesel   [Aug-30-17 01:15PM  GlobeNewswire]
▶ Innospec posts 2Q profit   [Aug-08-17 10:51PM  Associated Press]
▶ ETFs with exposure to Innospec, Inc. : July 13, 2017   [Jul-13-17 04:06PM  Capital Cube]
▶ ETFs with exposure to Innospec, Inc. : June 19, 2017   [Jun-19-17 03:33PM  Capital Cube]
▶ Innospec Invests in Dried Surfactants   [Jun-01-17 04:45PM  GlobeNewswire]
▶ Innospec posts 1Q profit   [May-09-17 07:44PM  Associated Press]
▶ ETFs with exposure to Innospec, Inc. : April 7, 2017   [Apr-07-17 04:54PM  Capital Cube]
▶ Innospec posts 4Q profit   [Feb-14-17 05:29PM  Associated Press]
▶ Innospec Inc. (IOSP): Hedge Funds Remain Overweight   [Dec-02-16 12:43PM  at Insider Monkey]
▶ Innospec Reports Third Quarter 2016 Financial Results   [Nov-02-16 04:45PM  GlobeNewswire]
▶ Innospec Publishes 2015 Sustainability Report   [Oct-21-16 04:37AM  GlobeNewswire]
▶ *** DATA NOT AVAILABLE ***   [Sep-01-16 02:03PM  at noodls]
Financial statements of IOSP
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.