Intrinsic value of John Bean Technologies - JBT

Previous Close

$87.35

  Intrinsic Value

$126.48

stock screener

  Rating & Target

buy

+45%

  Value-price divergence*

+1%

Previous close

$87.35

 
Intrinsic value

$126.48

 
Up/down potential

+45%

 
Rating

buy

 
Value-price divergence*

+1%

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

We calculate the intrinsic value of JBT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  22.04
  29.20
  26.78
  24.60
  22.64
  20.88
  19.29
  17.86
  16.57
  15.42
  14.38
  13.44
  12.59
  11.83
  11.15
  10.54
  9.98
  9.48
  9.04
  8.63
  8.27
  7.94
  7.65
  7.38
  7.14
  6.93
  6.74
  6.56
  6.41
  6.27
  6.14
Revenue, $m
  1,351
  1,745
  2,213
  2,757
  3,382
  4,088
  4,876
  5,747
  6,700
  7,733
  8,844
  10,033
  11,296
  12,633
  14,042
  15,521
  17,071
  18,690
  20,379
  22,138
  23,968
  25,872
  27,851
  29,907
  32,044
  34,264
  36,573
  38,974
  41,471
  44,069
  46,775
Variable operating expenses, $m
 
  1,597
  2,018
  2,509
  3,072
  3,708
  4,419
  5,204
  6,062
  6,993
  7,995
  9,042
  10,181
  11,385
  12,655
  13,988
  15,385
  16,844
  18,366
  19,951
  21,601
  23,317
  25,100
  26,953
  28,879
  30,880
  32,961
  35,124
  37,375
  39,717
  42,155
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
  1,247
  1,597
  2,018
  2,509
  3,072
  3,708
  4,419
  5,204
  6,062
  6,993
  7,995
  9,042
  10,181
  11,385
  12,655
  13,988
  15,385
  16,844
  18,366
  19,951
  21,601
  23,317
  25,100
  26,953
  28,879
  30,880
  32,961
  35,124
  37,375
  39,717
  42,155
Operating income, $m
  103
  148
  195
  248
  310
  380
  458
  544
  638
  740
  849
  991
  1,116
  1,248
  1,387
  1,533
  1,686
  1,846
  2,013
  2,186
  2,367
  2,555
  2,751
  2,954
  3,165
  3,384
  3,612
  3,849
  4,096
  4,352
  4,620
EBITDA, $m
  141
  203
  258
  321
  394
  476
  567
  669
  780
  900
  1,029
  1,168
  1,315
  1,470
  1,634
  1,806
  1,987
  2,175
  2,372
  2,576
  2,789
  3,011
  3,241
  3,480
  3,729
  3,987
  4,256
  4,535
  4,826
  5,128
  5,443
Interest expense (income), $m
  10
  17
  27
  40
  54
  70
  88
  109
  131
  156
  183
  211
  242
  275
  310
  346
  384
  425
  467
  510
  556
  603
  653
  704
  757
  813
  870
  930
  992
  1,057
  1,124
Earnings before tax, $m
  94
  131
  167
  209
  256
  310
  369
  435
  507
  584
  667
  779
  873
  973
  1,077
  1,187
  1,302
  1,421
  1,546
  1,676
  1,811
  1,952
  2,098
  2,250
  2,408
  2,572
  2,742
  2,919
  3,104
  3,296
  3,496
Tax expense, $m
  26
  35
  45
  56
  69
  84
  100
  117
  137
  158
  180
  210
  236
  263
  291
  320
  351
  384
  417
  453
  489
  527
  566
  607
  650
  694
  740
  788
  838
  890
  944
Net income, $m
  68
  96
  122
  152
  187
  226
  270
  318
  370
  426
  487
  569
  638
  710
  786
  866
  950
  1,038
  1,129
  1,224
  1,322
  1,425
  1,532
  1,642
  1,758
  1,877
  2,002
  2,131
  2,266
  2,406
  2,552

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  33
  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
  1,187
  1,491
  1,890
  2,355
  2,888
  3,491
  4,164
  4,908
  5,721
  6,603
  7,553
  8,568
  9,647
  10,788
  11,991
  13,255
  14,578
  15,961
  17,403
  18,905
  20,468
  22,094
  23,784
  25,540
  27,364
  29,261
  31,232
  33,282
  35,415
  37,634
  39,945
Adjusted assets (=assets-cash), $m
  1,154
  1,491
  1,890
  2,355
  2,888
  3,491
  4,164
  4,908
  5,721
  6,603
  7,553
  8,568
  9,647
  10,788
  11,991
  13,255
  14,578
  15,961
  17,403
  18,905
  20,468
  22,094
  23,784
  25,540
  27,364
  29,261
  31,232
  33,282
  35,415
  37,634
  39,945
Revenue / Adjusted assets
  1.171
  1.170
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
  1.171
Average production assets, $m
  328
  424
  538
  670
  822
  993
  1,185
  1,397
  1,628
  1,879
  2,149
  2,438
  2,745
  3,070
  3,412
  3,772
  4,148
  4,542
  4,952
  5,379
  5,824
  6,287
  6,768
  7,267
  7,787
  8,326
  8,887
  9,471
  10,077
  10,709
  11,366
Working capital, $m
  92
  86
  108
  135
  166
  200
  239
  282
  328
  379
  433
  492
  554
  619
  688
  761
  836
  916
  999
  1,085
  1,174
  1,268
  1,365
  1,465
  1,570
  1,679
  1,792
  1,910
  2,032
  2,159
  2,292
Total debt, $m
  499
  784
  1,130
  1,534
  1,996
  2,518
  3,102
  3,747
  4,452
  5,217
  6,040
  6,920
  7,856
  8,845
  9,889
  10,984
  12,131
  13,330
  14,580
  15,883
  17,238
  18,647
  20,112
  21,635
  23,217
  24,861
  26,570
  28,348
  30,197
  32,121
  34,124
Total liabilities, $m
  1,008
  1,292
  1,638
  2,042
  2,504
  3,026
  3,610
  4,255
  4,960
  5,725
  6,548
  7,428
  8,364
  9,353
  10,397
  11,492
  12,639
  13,838
  15,088
  16,391
  17,746
  19,155
  20,620
  22,143
  23,725
  25,369
  27,078
  28,856
  30,705
  32,629
  34,632
Total equity, $m
  180
  198
  251
  313
  384
  464
  554
  653
  761
  878
  1,005
  1,139
  1,283
  1,435
  1,595
  1,763
  1,939
  2,123
  2,315
  2,514
  2,722
  2,938
  3,163
  3,397
  3,639
  3,892
  4,154
  4,427
  4,710
  5,005
  5,313
Total liabilities and equity, $m
  1,188
  1,490
  1,889
  2,355
  2,888
  3,490
  4,164
  4,908
  5,721
  6,603
  7,553
  8,567
  9,647
  10,788
  11,992
  13,255
  14,578
  15,961
  17,403
  18,905
  20,468
  22,093
  23,783
  25,540
  27,364
  29,261
  31,232
  33,283
  35,415
  37,634
  39,945
Debt-to-equity ratio
  2.772
  3.960
  4.500
  4.900
  5.200
  5.420
  5.600
  5.740
  5.850
  5.940
  6.010
  6.070
  6.120
  6.160
  6.200
  6.230
  6.260
  6.280
  6.300
  6.320
  6.330
  6.350
  6.360
  6.370
  6.380
  6.390
  6.400
  6.400
  6.410
  6.420
  6.420
Adjusted equity ratio
  0.127
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133
  0.133

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  68
  96
  122
  152
  187
  226
  270
  318
  370
  426
  487
  569
  638
  710
  786
  866
  950
  1,038
  1,129
  1,224
  1,322
  1,425
  1,532
  1,642
  1,758
  1,877
  2,002
  2,131
  2,266
  2,406
  2,552
Depreciation, amort., depletion, $m
  38
  55
  63
  73
  84
  96
  110
  125
  142
  160
  180
  177
  199
  222
  247
  273
  301
  329
  359
  390
  422
  456
  490
  527
  564
  603
  644
  686
  730
  776
  824
Funds from operations, $m
  20
  150
  185
  225
  271
  322
  380
  443
  512
  586
  667
  746
  837
  933
  1,034
  1,140
  1,251
  1,367
  1,488
  1,613
  1,744
  1,880
  2,022
  2,169
  2,322
  2,481
  2,646
  2,817
  2,996
  3,182
  3,375
Change in working capital, $m
  -47
  19
  23
  27
  31
  35
  39
  43
  47
  51
  54
  58
  62
  66
  69
  72
  76
  79
  83
  86
  90
  93
  97
  101
  105
  109
  113
  118
  122
  127
  133
Cash from operations, $m
  67
  131
  162
  198
  240
  288
  341
  400
  465
  536
  612
  687
  775
  867
  965
  1,067
  1,175
  1,287
  1,405
  1,527
  1,655
  1,787
  1,925
  2,068
  2,217
  2,372
  2,533
  2,700
  2,874
  3,054
  3,243
Maintenance CAPEX, $m
  0
  -24
  -31
  -39
  -49
  -60
  -72
  -86
  -101
  -118
  -136
  -156
  -177
  -199
  -222
  -247
  -273
  -301
  -329
  -359
  -390
  -422
  -456
  -490
  -527
  -564
  -603
  -644
  -686
  -730
  -776
New CAPEX, $m
  -37
  -96
  -114
  -132
  -152
  -172
  -192
  -212
  -231
  -251
  -270
  -289
  -307
  -325
  -342
  -360
  -377
  -393
  -410
  -427
  -445
  -463
  -481
  -500
  -519
  -540
  -561
  -583
  -607
  -631
  -658
Cash from investing activities, $m
  -267
  -120
  -145
  -171
  -201
  -232
  -264
  -298
  -332
  -369
  -406
  -445
  -484
  -524
  -564
  -607
  -650
  -694
  -739
  -786
  -835
  -885
  -937
  -990
  -1,046
  -1,104
  -1,164
  -1,227
  -1,293
  -1,361
  -1,434
Free cash flow, $m
  -200
  11
  18
  27
  40
  56
  77
  103
  132
  167
  206
  243
  291
  343
  400
  460
  525
  593
  665
  741
  820
  903
  989
  1,078
  1,171
  1,268
  1,368
  1,472
  1,580
  1,693
  1,809
Issuance/(repayment) of debt, $m
  215
  292
  346
  403
  462
  523
  584
  645
  705
  765
  823
  880
  936
  990
  1,043
  1,095
  1,147
  1,199
  1,250
  1,302
  1,355
  1,409
  1,465
  1,522
  1,582
  1,644
  1,709
  1,777
  1,849
  1,924
  2,003
Issuance/(repurchase) of shares, $m
  -4
  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  
  207
  292
  346
  403
  462
  523
  584
  645
  705
  765
  823
  880
  936
  990
  1,043
  1,095
  1,147
  1,199
  1,250
  1,302
  1,355
  1,409
  1,465
  1,522
  1,582
  1,644
  1,709
  1,777
  1,849
  1,924
  2,003
Total cash flow (excl. dividends), $m
  8
  304
  364
  430
  502
  579
  661
  747
  838
  932
  1,029
  1,123
  1,226
  1,333
  1,443
  1,556
  1,672
  1,792
  1,916
  2,043
  2,175
  2,312
  2,454
  2,601
  2,753
  2,912
  3,077
  3,250
  3,429
  3,617
  3,813
Retained Cash Flow (-), $m
  -50
  -44
  -53
  -62
  -71
  -80
  -90
  -99
  -108
  -117
  -126
  -135
  -144
  -152
  -160
  -168
  -176
  -184
  -192
  -200
  -208
  -216
  -225
  -234
  -243
  -252
  -262
  -273
  -284
  -295
  -307
Prev. year cash balance distribution, $m
 
  26
  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
 
  285
  311
  368
  431
  499
  572
  649
  729
  814
  903
  988
  1,083
  1,181
  1,283
  1,388
  1,496
  1,608
  1,724
  1,844
  1,967
  2,096
  2,229
  2,367
  2,511
  2,660
  2,815
  2,977
  3,146
  3,322
  3,505
Discount rate, %
 
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
 
  261
  258
  275
  286
  292
  292
  285
  273
  256
  235
  209
  184
  159
  134
  110
  88
  69
  53
  40
  29
  20
  14
  9
  6
  4
  2
  1
  1
  0
  0
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

John Bean Technologies Corporation designs, manufactures, tests, and services products and systems for food and beverage, and air transportation industries. It operates through JBT FoodTech and JBT AeroTech segments. The company provides protein product solutions that include mixing/grinding, injecting, marinating, tumbling, portioning, coating, frying, and freezing for poultry, beef, pork, and seafood, as well as ready-to-eat meals, fruits, vegetables, dairy, and bakery products; and liquid food solutions for filling, closing and sterilization of fruits, vegetables, soups, sauces, dairy, and pet food products, as well as to extract, concentrate, and aseptically process citrus, tomato and other fruits, vegetables, and juices. It also offers automatic guided vehicles for use in material handling in the manufacturing and warehouse industries; clipping systems, including table, semi-automatic, and automatic clippers, as well as net and clip, bag and clip, and hanging systems; processing machines, which include fine cutters/emulsifiers and bowl choppers; and consumables, such as clips, loops, labeling systems, and string and cord solutions. In addition, the company provides mobile air transportation equipment, such as commercial and military cargo loading, aircraft deicing, aircraft towing, and ground aircraft power and cooling systems; and airport gate equipment for passenger boarding, as well as maintenance services for airport equipment, systems, and facilities. Further, it offers air transportation solutions to airport authorities, airlines, airfreight, and ground handling companies, as well as military and defense contractors. The company provides its products and solutions through direct sales force, independent distributors, and sales representatives in the United States and internationally. John Bean Technologies Corporation is headquartered in Chicago, Illinois.

FINANCIAL RATIOS  of  John Bean Technologies (JBT)

Valuation Ratios
P/E Ratio 37.5
Price to Sales 1.9
Price to Book 14.2
Price to Tangible Book
Price to Cash Flow 38
Price to Free Cash Flow 84.9
Growth Rates
Sales Growth Rate 22%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -2.6%
Cap. Spend. - 3 Yr. Gr. Rate 5%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 273.3%
Total Debt to Equity 277.2%
Interest Coverage 10
Management Effectiveness
Return On Assets 7.3%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 12.5%
Ret/ On T. Cap. - 3 Yr. Avg. 13.2%
Return On Equity 43.9%
Return On Equity - 3 Yr. Avg. 37.2%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 28.1%
Gross Margin - 3 Yr. Avg. 27.8%
EBITDA Margin 10.5%
EBITDA Margin - 3 Yr. Avg. 9.8%
Operating Margin 7.7%
Oper. Margin - 3 Yr. Avg. 6.9%
Pre-Tax Margin 7%
Pre-Tax Margin - 3 Yr. Avg. 6.3%
Net Profit Margin 5%
Net Profit Margin - 3 Yr. Avg. 4.4%
Effective Tax Rate 27.7%
Eff/ Tax Rate - 3 Yr. Avg. 30.2%
Payout Ratio 17.6%

JBT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the JBT stock intrinsic value calculation we used $1351 million for the last fiscal year's total revenue generated by John Bean Technologies. The default revenue input number comes from 2016 income statement of John Bean Technologies. 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 JBT stock valuation model: a) initial revenue growth rate of 29.2% 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 9.3%, whose default value for JBT is calculated based on our internal credit rating of John Bean Technologies, 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 John Bean Technologies.
    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 JBT stock the variable cost ratio is equal to 91.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for JBT 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 John Bean Technologies.

Corporate tax rate of 27% is the nominal tax rate for John Bean Technologies. 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 JBT 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 JBT are equal to 24.3%.

Life of production assets of 13.8 years is the average useful life of capital assets used in John Bean Technologies 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 JBT is equal to 4.9%. 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 - $180 million for John Bean Technologies - 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 30.408 million for John Bean Technologies 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 John Bean Technologies at the current share price and the inputted number of shares is $2.7 billion.

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COMPANY NEWS

▶ JBT Corporation Strengthens Executive Team   [Aug-16-17 04:30PM  PR Newswire]
▶ JBT Corporation Declares Quarterly Dividend   [Aug-11-17 09:00AM  PR Newswire]
▶ JBT beats Street 2Q forecasts   [Jul-31-17 09:44PM  Associated Press]
▶ Thomas W. Giacomini Elected to MSA Board of Directors   [Jun-08-17 04:30PM  PR Newswire]
▶ JBT tops Street 1Q forecasts   [Apr-25-17 04:56PM  Associated Press]
▶ Top Ranked Growth Stocks to Buy for April 12th   [Apr-12-17 10:58AM  Zacks]
▶ Welbilt and John Bean Technologies: Cramer's Top Takeaways   [Apr-08-17 06:38AM  TheStreet.com]
▶ [$$] JBT Buys Avure Technologies for $57 Million   [06:27PM  at The Wall Street Journal]
▶ JBT Corporation Declares Quarterly Dividend   [Feb-17-17 09:00AM  PR Newswire]
▶ JBT Corporation Declares Quarterly Dividend   [Dec-01-16 09:00AM  PR Newswire]
Stock chart of JBT Financial statements of JBT
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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