Intrinsic value of Interpublic Group - IPG

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$24.39

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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$24.39

 
Intrinsic value

$53.14

 
Up/down potential

+118%

 
Rating

str. buy

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

We calculate the intrinsic value of IPG 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 9.6

 

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, %
  3.06
  3.10
  3.29
  3.46
  3.61
  3.75
  3.88
  3.99
  4.09
  4.18
  4.26
  4.34
  4.40
  4.46
  4.52
  4.57
  4.61
  4.65
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
Revenue, $m
  7,847
  8,090
  8,356
  8,646
  8,958
  9,294
  9,655
  10,040
  10,451
  10,888
  11,352
  11,845
  12,366
  12,918
  13,502
  14,118
  14,769
  15,455
  16,179
  16,942
  17,745
  18,592
  19,483
  20,420
  21,407
  22,445
  23,536
  24,684
  25,891
  27,160
  28,494
Variable operating expenses, $m
 
  5,409
  5,575
  5,755
  5,950
  6,159
  6,384
  6,624
  6,880
  7,153
  7,442
  7,381
  7,706
  8,050
  8,414
  8,798
  9,204
  9,631
  10,082
  10,558
  11,059
  11,586
  12,141
  12,725
  13,340
  13,987
  14,667
  15,383
  16,135
  16,926
  17,757
Fixed operating expenses, $m
 
  1,779
  1,824
  1,869
  1,916
  1,964
  2,013
  2,064
  2,115
  2,168
  2,222
  2,278
  2,335
  2,393
  2,453
  2,514
  2,577
  2,642
  2,708
  2,775
  2,845
  2,916
  2,989
  3,063
  3,140
  3,218
  3,299
  3,381
  3,466
  3,553
  3,641
Total operating expenses, $m
  6,948
  7,188
  7,399
  7,624
  7,866
  8,123
  8,397
  8,688
  8,995
  9,321
  9,664
  9,659
  10,041
  10,443
  10,867
  11,312
  11,781
  12,273
  12,790
  13,333
  13,904
  14,502
  15,130
  15,788
  16,480
  17,205
  17,966
  18,764
  19,601
  20,479
  21,398
Operating income, $m
  898
  902
  958
  1,021
  1,092
  1,171
  1,258
  1,352
  1,456
  1,567
  1,688
  2,186
  2,325
  2,475
  2,635
  2,806
  2,988
  3,182
  3,389
  3,609
  3,842
  4,090
  4,353
  4,631
  4,927
  5,239
  5,570
  5,920
  6,290
  6,682
  7,096
EBITDA, $m
  1,058
  1,297
  1,354
  1,418
  1,490
  1,570
  1,658
  1,755
  1,859
  1,973
  2,095
  2,227
  2,368
  2,520
  2,682
  2,855
  3,039
  3,236
  3,445
  3,667
  3,904
  4,154
  4,420
  4,702
  5,001
  5,317
  5,652
  6,006
  6,380
  6,776
  7,194
Interest expense (income), $m
  79
  59
  74
  89
  106
  125
  145
  166
  189
  213
  239
  266
  295
  326
  359
  393
  429
  468
  508
  551
  596
  644
  693
  746
  801
  860
  921
  985
  1,053
  1,124
  1,199
Earnings before tax, $m
  830
  843
  884
  932
  986
  1,046
  1,113
  1,186
  1,267
  1,354
  1,449
  1,919
  2,030
  2,149
  2,276
  2,413
  2,559
  2,714
  2,881
  3,058
  3,246
  3,446
  3,659
  3,885
  4,125
  4,380
  4,649
  4,935
  5,237
  5,558
  5,897
Tax expense, $m
  198
  228
  239
  252
  266
  282
  300
  320
  342
  366
  391
  518
  548
  580
  615
  651
  691
  733
  778
  826
  876
  931
  988
  1,049
  1,114
  1,182
  1,255
  1,332
  1,414
  1,501
  1,592
Net income, $m
  609
  615
  645
  680
  719
  763
  812
  866
  925
  989
  1,058
  1,401
  1,482
  1,569
  1,662
  1,761
  1,868
  1,982
  2,103
  2,232
  2,370
  2,516
  2,671
  2,836
  3,011
  3,197
  3,394
  3,602
  3,823
  4,057
  4,304

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,101
  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
  12,485
  11,742
  12,128
  12,548
  13,002
  13,490
  14,013
  14,572
  15,168
  15,803
  16,476
  17,191
  17,948
  18,749
  19,596
  20,491
  21,435
  22,431
  23,482
  24,589
  25,755
  26,984
  28,277
  29,638
  31,070
  32,576
  34,160
  35,826
  37,578
  39,420
  41,355
Adjusted assets (=assets-cash), $m
  11,384
  11,742
  12,128
  12,548
  13,002
  13,490
  14,013
  14,572
  15,168
  15,803
  16,476
  17,191
  17,948
  18,749
  19,596
  20,491
  21,435
  22,431
  23,482
  24,589
  25,755
  26,984
  28,277
  29,638
  31,070
  32,576
  34,160
  35,826
  37,578
  39,420
  41,355
Revenue / Adjusted assets
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
  0.689
Average production assets, $m
  743
  769
  794
  821
  851
  883
  917
  954
  993
  1,034
  1,078
  1,125
  1,175
  1,227
  1,283
  1,341
  1,403
  1,468
  1,537
  1,609
  1,686
  1,766
  1,851
  1,940
  2,034
  2,132
  2,236
  2,345
  2,460
  2,580
  2,707
Working capital, $m
  -268
  -987
  -1,019
  -1,055
  -1,093
  -1,134
  -1,178
  -1,225
  -1,275
  -1,328
  -1,385
  -1,445
  -1,509
  -1,576
  -1,647
  -1,722
  -1,802
  -1,886
  -1,974
  -2,067
  -2,165
  -2,268
  -2,377
  -2,491
  -2,612
  -2,738
  -2,871
  -3,011
  -3,159
  -3,314
  -3,476
Total debt, $m
  1,690
  1,602
  1,943
  2,315
  2,716
  3,147
  3,609
  4,104
  4,631
  5,191
  5,787
  6,419
  7,088
  7,796
  8,545
  9,336
  10,171
  11,051
  11,980
  12,959
  13,990
  15,075
  16,219
  17,422
  18,687
  20,019
  21,420
  22,892
  24,441
  26,069
  27,780
Total liabilities, $m
  10,468
  10,380
  10,721
  11,093
  11,494
  11,925
  12,387
  12,882
  13,409
  13,969
  14,565
  15,197
  15,866
  16,574
  17,323
  18,114
  18,949
  19,829
  20,758
  21,737
  22,768
  23,853
  24,997
  26,200
  27,465
  28,797
  30,198
  31,670
  33,219
  34,847
  36,558
Total equity, $m
  2,017
  1,362
  1,407
  1,456
  1,508
  1,565
  1,625
  1,690
  1,760
  1,833
  1,911
  1,994
  2,082
  2,175
  2,273
  2,377
  2,486
  2,602
  2,724
  2,852
  2,988
  3,130
  3,280
  3,438
  3,604
  3,779
  3,963
  4,156
  4,359
  4,573
  4,797
Total liabilities and equity, $m
  12,485
  11,742
  12,128
  12,549
  13,002
  13,490
  14,012
  14,572
  15,169
  15,802
  16,476
  17,191
  17,948
  18,749
  19,596
  20,491
  21,435
  22,431
  23,482
  24,589
  25,756
  26,983
  28,277
  29,638
  31,069
  32,576
  34,161
  35,826
  37,578
  39,420
  41,355
Debt-to-equity ratio
  0.838
  1.180
  1.380
  1.590
  1.800
  2.010
  2.220
  2.430
  2.630
  2.830
  3.030
  3.220
  3.400
  3.580
  3.760
  3.930
  4.090
  4.250
  4.400
  4.540
  4.680
  4.820
  4.940
  5.070
  5.190
  5.300
  5.410
  5.510
  5.610
  5.700
  5.790
Adjusted equity ratio
  0.088
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116
  0.116

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  609
  615
  645
  680
  719
  763
  812
  866
  925
  989
  1,058
  1,401
  1,482
  1,569
  1,662
  1,761
  1,868
  1,982
  2,103
  2,232
  2,370
  2,516
  2,671
  2,836
  3,011
  3,197
  3,394
  3,602
  3,823
  4,057
  4,304
Depreciation, amort., depletion, $m
  160
  395
  396
  397
  398
  400
  401
  402
  404
  405
  407
  41
  43
  45
  47
  49
  51
  54
  56
  59
  62
  64
  68
  71
  74
  78
  82
  86
  90
  94
  99
Funds from operations, $m
  3
  1,011
  1,042
  1,077
  1,118
  1,163
  1,213
  1,268
  1,328
  1,394
  1,465
  1,442
  1,525
  1,613
  1,708
  1,810
  1,919
  2,035
  2,159
  2,291
  2,431
  2,580
  2,739
  2,907
  3,086
  3,275
  3,476
  3,688
  3,913
  4,151
  4,403
Change in working capital, $m
  -510
  -30
  -32
  -35
  -38
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -67
  -71
  -75
  -79
  -84
  -88
  -93
  -98
  -103
  -109
  -114
  -120
  -127
  -133
  -140
  -147
  -155
  -163
Cash from operations, $m
  513
  1,068
  1,074
  1,113
  1,156
  1,204
  1,257
  1,315
  1,379
  1,447
  1,521
  1,502
  1,588
  1,681
  1,780
  1,885
  1,998
  2,119
  2,247
  2,384
  2,529
  2,684
  2,848
  3,022
  3,206
  3,402
  3,609
  3,828
  4,060
  4,306
  4,566
Maintenance CAPEX, $m
  0
  -27
  -28
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -64
  -68
  -71
  -74
  -78
  -82
  -86
  -90
  -94
New CAPEX, $m
  -201
  -26
  -25
  -27
  -30
  -32
  -34
  -37
  -39
  -42
  -44
  -47
  -50
  -52
  -55
  -59
  -62
  -65
  -69
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -104
  -109
  -115
  -121
  -127
Cash from investing activities, $m
  -264
  -53
  -53
  -56
  -60
  -63
  -66
  -70
  -74
  -78
  -82
  -86
  -91
  -95
  -100
  -106
  -111
  -116
  -123
  -128
  -135
  -142
  -149
  -157
  -165
  -173
  -182
  -191
  -201
  -211
  -221
Free cash flow, $m
  249
  1,015
  1,021
  1,056
  1,096
  1,141
  1,191
  1,245
  1,305
  1,369
  1,440
  1,416
  1,498
  1,585
  1,679
  1,780
  1,888
  2,002
  2,125
  2,255
  2,394
  2,542
  2,698
  2,865
  3,041
  3,229
  3,427
  3,637
  3,860
  4,096
  4,345
Issuance/(repayment) of debt, $m
  -58
  322
  342
  371
  401
  431
  462
  494
  527
  561
  596
  632
  669
  708
  749
  791
  835
  881
  929
  979
  1,031
  1,086
  1,143
  1,203
  1,266
  1,332
  1,401
  1,473
  1,549
  1,628
  1,711
Issuance/(repurchase) of shares, $m
  -293
  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  
  -428
  322
  342
  371
  401
  431
  462
  494
  527
  561
  596
  632
  669
  708
  749
  791
  835
  881
  929
  979
  1,031
  1,086
  1,143
  1,203
  1,266
  1,332
  1,401
  1,473
  1,549
  1,628
  1,711
Total cash flow (excl. dividends), $m
  -167
  1,337
  1,362
  1,427
  1,497
  1,573
  1,653
  1,739
  1,832
  1,930
  2,035
  2,048
  2,167
  2,294
  2,428
  2,571
  2,722
  2,883
  3,054
  3,234
  3,425
  3,627
  3,842
  4,068
  4,307
  4,560
  4,828
  5,110
  5,409
  5,724
  6,056
Retained Cash Flow (-), $m
  -51
  -36
  -45
  -49
  -53
  -57
  -61
  -65
  -69
  -74
  -78
  -83
  -88
  -93
  -98
  -104
  -110
  -116
  -122
  -128
  -135
  -142
  -150
  -158
  -166
  -175
  -184
  -193
  -203
  -214
  -225
Prev. year cash balance distribution, $m
 
  691
  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
 
  1,992
  1,317
  1,379
  1,445
  1,516
  1,592
  1,675
  1,763
  1,857
  1,957
  1,965
  2,079
  2,201
  2,330
  2,467
  2,613
  2,768
  2,932
  3,106
  3,290
  3,485
  3,692
  3,910
  4,141
  4,386
  4,644
  4,917
  5,205
  5,510
  5,832
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
 
  1,910
  1,206
  1,200
  1,190
  1,175
  1,156
  1,131
  1,102
  1,067
  1,026
  933
  887
  837
  782
  724
  664
  602
  540
  478
  418
  360
  306
  256
  211
  171
  135
  106
  81
  60
  44
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

The Interpublic Group of Companies, Inc. provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines. The company also provides various diversified services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and strategic marketing consulting. It offers its services under various brands comprising McCann, MullenLowe, IPG Mediabrands, Carmichael Lynch, Deutsch, Hill Holliday, and The Martin Agency, as well as Foote, Cone & Belding. The company was formerly known as McCann-Erickson Incorporated and changed its name to The Interpublic Group of Companies, Inc. in January 1961. The Interpublic Group of Companies, Inc. was founded in 1902 and is headquartered in New York, New York.

FINANCIAL RATIOS  of  Interpublic Group (IPG)

Valuation Ratios
P/E Ratio 15.7
Price to Sales 1.2
Price to Book 4.7
Price to Tangible Book
Price to Cash Flow 18.6
Price to Free Cash Flow 30.6
Growth Rates
Sales Growth Rate 3.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 24.8%
Cap. Spend. - 3 Yr. Gr. Rate 3%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 63.5%
Total Debt to Equity 83.8%
Interest Coverage 12
Management Effectiveness
Return On Assets 5.3%
Ret/ On Assets - 3 Yr. Avg. 4.5%
Return On Total Capital 16.4%
Ret/ On T. Cap. - 3 Yr. Avg. 13.6%
Return On Equity 30.6%
Return On Equity - 3 Yr. Avg. 25%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 13.6%
EBITDA Margin - 3 Yr. Avg. 13.1%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 10.9%
Pre-Tax Margin 10.6%
Pre-Tax Margin - 3 Yr. Avg. 10.1%
Net Profit Margin 7.8%
Net Profit Margin - 3 Yr. Avg. 6.7%
Effective Tax Rate 23.9%
Eff/ Tax Rate - 3 Yr. Avg. 30.4%
Payout Ratio 39.1%

IPG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IPG stock intrinsic value calculation we used $7847 million for the last fiscal year's total revenue generated by Interpublic Group. The default revenue input number comes from 2016 income statement of Interpublic Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IPG stock valuation model: a) initial revenue growth rate of 3.1% 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 IPG is calculated based on our internal credit rating of Interpublic Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Interpublic Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IPG stock the variable cost ratio is equal to 67%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1736 million in the base year in the intrinsic value calculation for IPG stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.6% for Interpublic Group.

Corporate tax rate of 27% is the nominal tax rate for Interpublic Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IPG 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 IPG are equal to 9.5%.

Life of production assets of 27.4 years is the average useful life of capital assets used in Interpublic Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IPG is equal to -12.2%. 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 - $2017 million for Interpublic Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 392.348 million for Interpublic Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Interpublic Group at the current share price and the inputted number of shares is $9.6 billion.


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COMPANY NEWS

▶ Top 10 Advertising Agencies in NYC   [Apr-22-17 03:21PM  Insider Monkey]
▶ IPG CEO Open to Partnerships With Consulting Firm Rivals   [11:10AM  The Wall Street Journal]
▶ Interpublic beats 1Q profit forecasts   [07:10AM  Associated Press]
▶ RBC Capital's top 30 stock picks   [Apr-10-17 01:38PM  CNBC Videos]
▶ Interpublic Schedules First Quarter 2017 Earnings Release   [Apr-03-17 04:31PM  GlobeNewswire]
▶ IPG CEO on YouTube advertiser boycott   [11:41AM  CNBC Videos]
▶ IPG Creates New Role For Arun Kumar in Data Push   [Mar-23-17 07:00AM  at The Wall Street Journal]
▶ IPG Agencies Have Dominant Showing at 2017 PRWeek Awards   [Mar-20-17 11:05AM  GlobeNewswire]
▶ Carmichael Lynch Names Marcus Fischer CEO   [08:00AM  PR Newswire]
▶ Elliott Exits Position in Interpublic Group   [Feb-14-17 07:45PM  at The Wall Street Journal]
▶ Interpublic Group Chief Defends Approach Amid Ad Probe   [12:18PM  at The Wall Street Journal]
▶ McCann Wins the Super Bowl's Best Ad Trophy   [Feb-07-17 04:26PM  PR Newswire]
Stock chart of IPG Financial statements of IPG
Valuation of Stocks

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