Intrinsic value of Kate Spade - KATE

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$17.54

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$17.54

 
Intrinsic value

$81.27

 
Up/down potential

+363%

 
Rating

str. buy

 
Value-price divergence* premium content

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

We calculate the intrinsic value of KATE 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 2.3

 

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, %
  11.10
  11.10
  10.49
  9.94
  9.45
  9.00
  8.60
  8.24
  7.92
  7.63
  7.36
  7.13
  6.91
  6.72
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
Revenue, $m
  1,381
  1,534
  1,695
  1,864
  2,040
  2,223
  2,415
  2,614
  2,821
  3,036
  3,259
  3,492
  3,733
  3,984
  4,245
  4,516
  4,799
  5,093
  5,400
  5,719
  6,052
  6,400
  6,762
  7,141
  7,537
  7,950
  8,383
  8,835
  9,308
  9,803
  10,321
Variable operating expenses, $m
 
  292
  323
  354
  387
  422
  457
  495
  534
  574
  616
  654
  699
  747
  795
  846
  899
  954
  1,012
  1,072
  1,134
  1,199
  1,267
  1,338
  1,412
  1,490
  1,571
  1,655
  1,744
  1,837
  1,934
Fixed operating expenses, $m
 
  997
  1,022
  1,048
  1,074
  1,101
  1,128
  1,157
  1,186
  1,215
  1,246
  1,277
  1,309
  1,341
  1,375
  1,409
  1,444
  1,481
  1,518
  1,555
  1,594
  1,634
  1,675
  1,717
  1,760
  1,804
  1,849
  1,895
  1,943
  1,991
  2,041
Total operating expenses, $m
  1,198
  1,289
  1,345
  1,402
  1,461
  1,523
  1,585
  1,652
  1,720
  1,789
  1,862
  1,931
  2,008
  2,088
  2,170
  2,255
  2,343
  2,435
  2,530
  2,627
  2,728
  2,833
  2,942
  3,055
  3,172
  3,294
  3,420
  3,550
  3,687
  3,828
  3,975
Operating income, $m
  184
  244
  350
  462
  579
  701
  829
  962
  1,102
  1,247
  1,398
  1,561
  1,725
  1,896
  2,075
  2,261
  2,455
  2,658
  2,870
  3,092
  3,324
  3,566
  3,820
  4,086
  4,365
  4,657
  4,963
  5,284
  5,621
  5,975
  6,346
EBITDA, $m
  233
  287
  397
  513
  634
  761
  893
  1,032
  1,176
  1,326
  1,483
  1,647
  1,817
  1,994
  2,179
  2,372
  2,573
  2,784
  3,003
  3,233
  3,473
  3,724
  3,986
  4,262
  4,550
  4,852
  5,169
  5,501
  5,850
  6,216
  6,600
Interest expense (income), $m
  17
  17
  13
  16
  19
  21
  24
  28
  31
  34
  38
  42
  45
  49
  54
  58
  62
  67
  72
  77
  82
  88
  94
  100
  106
  112
  119
  126
  134
  142
  150
Earnings before tax, $m
  156
  228
  337
  446
  560
  680
  804
  935
  1,071
  1,212
  1,360
  1,519
  1,679
  1,847
  2,021
  2,203
  2,393
  2,591
  2,798
  3,015
  3,241
  3,478
  3,727
  3,986
  4,259
  4,544
  4,844
  5,158
  5,487
  5,833
  6,196
Tax expense, $m
  4
  61
  91
  120
  151
  183
  217
  252
  289
  327
  367
  410
  453
  499
  546
  595
  646
  700
  756
  814
  875
  939
  1,006
  1,076
  1,150
  1,227
  1,308
  1,393
  1,482
  1,575
  1,673
Net income, $m
  154
  166
  246
  326
  409
  496
  587
  682
  782
  885
  993
  1,109
  1,226
  1,348
  1,475
  1,608
  1,747
  1,892
  2,043
  2,201
  2,366
  2,539
  2,720
  2,910
  3,109
  3,317
  3,536
  3,765
  4,006
  4,258
  4,523

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  519
  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
  1,110
  657
  725
  798
  873
  951
  1,033
  1,118
  1,207
  1,299
  1,395
  1,494
  1,597
  1,705
  1,816
  1,933
  2,053
  2,179
  2,311
  2,447
  2,590
  2,738
  2,894
  3,056
  3,225
  3,402
  3,587
  3,780
  3,983
  4,195
  4,416
Adjusted assets (=assets-cash), $m
  591
  657
  725
  798
  873
  951
  1,033
  1,118
  1,207
  1,299
  1,395
  1,494
  1,597
  1,705
  1,816
  1,933
  2,053
  2,179
  2,311
  2,447
  2,590
  2,738
  2,894
  3,056
  3,225
  3,402
  3,587
  3,780
  3,983
  4,195
  4,416
Revenue / Adjusted assets
  2.337
  2.335
  2.338
  2.336
  2.337
  2.338
  2.338
  2.338
  2.337
  2.337
  2.336
  2.337
  2.338
  2.337
  2.338
  2.336
  2.338
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
  2.337
Average production assets, $m
  170
  189
  209
  229
  251
  273
  297
  321
  347
  373
  401
  429
  459
  490
  522
  556
  590
  626
  664
  703
  744
  787
  832
  878
  927
  978
  1,031
  1,087
  1,145
  1,206
  1,270
Working capital, $m
  534
  21
  24
  26
  29
  31
  34
  37
  39
  43
  46
  49
  52
  56
  59
  63
  67
  71
  76
  80
  85
  90
  95
  100
  106
  111
  117
  124
  130
  137
  144
Total debt, $m
  393
  304
  366
  431
  499
  569
  643
  720
  799
  882
  968
  1,058
  1,151
  1,247
  1,348
  1,452
  1,561
  1,674
  1,792
  1,915
  2,044
  2,178
  2,317
  2,463
  2,615
  2,775
  2,941
  3,115
  3,298
  3,488
  3,688
Total liabilities, $m
  680
  591
  653
  718
  786
  856
  930
  1,007
  1,086
  1,169
  1,255
  1,345
  1,438
  1,534
  1,635
  1,739
  1,848
  1,961
  2,079
  2,202
  2,331
  2,465
  2,604
  2,750
  2,902
  3,062
  3,228
  3,402
  3,585
  3,775
  3,975
Total equity, $m
  430
  66
  73
  80
  87
  95
  103
  112
  121
  130
  139
  149
  160
  170
  182
  193
  205
  218
  231
  245
  259
  274
  289
  306
  322
  340
  359
  378
  398
  419
  442
Total liabilities and equity, $m
  1,110
  657
  726
  798
  873
  951
  1,033
  1,119
  1,207
  1,299
  1,394
  1,494
  1,598
  1,704
  1,817
  1,932
  2,053
  2,179
  2,310
  2,447
  2,590
  2,739
  2,893
  3,056
  3,224
  3,402
  3,587
  3,780
  3,983
  4,194
  4,417
Debt-to-equity ratio
  0.914
  4.630
  5.040
  5.400
  5.710
  5.980
  6.220
  6.430
  6.620
  6.790
  6.940
  7.080
  7.200
  7.320
  7.420
  7.510
  7.600
  7.680
  7.760
  7.830
  7.890
  7.950
  8.010
  8.060
  8.110
  8.160
  8.200
  8.240
  8.280
  8.320
  8.350
Adjusted equity ratio
  -0.144
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  154
  166
  246
  326
  409
  496
  587
  682
  782
  885
  993
  1,109
  1,226
  1,348
  1,475
  1,608
  1,747
  1,892
  2,043
  2,201
  2,366
  2,539
  2,720
  2,910
  3,109
  3,317
  3,536
  3,765
  4,006
  4,258
  4,523
Depreciation, amort., depletion, $m
  49
  43
  47
  51
  55
  60
  64
  69
  74
  80
  85
  86
  92
  98
  104
  111
  118
  125
  133
  141
  149
  157
  166
  176
  185
  196
  206
  217
  229
  241
  254
Funds from operations, $m
  247
  209
  293
  376
  464
  556
  652
  752
  856
  965
  1,078
  1,195
  1,318
  1,446
  1,580
  1,719
  1,865
  2,017
  2,176
  2,342
  2,515
  2,697
  2,887
  3,086
  3,294
  3,513
  3,742
  3,982
  4,235
  4,499
  4,777
Change in working capital, $m
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
Cash from operations, $m
  245
  291
  291
  374
  462
  553
  649
  749
  853
  962
  1,075
  1,192
  1,314
  1,443
  1,576
  1,716
  1,861
  2,013
  2,171
  2,337
  2,510
  2,692
  2,882
  3,080
  3,289
  3,507
  3,736
  3,976
  4,228
  4,492
  4,770
Maintenance CAPEX, $m
  0
  -34
  -38
  -42
  -46
  -50
  -55
  -59
  -64
  -69
  -75
  -80
  -86
  -92
  -98
  -104
  -111
  -118
  -125
  -133
  -141
  -149
  -157
  -166
  -176
  -185
  -196
  -206
  -217
  -229
  -241
New CAPEX, $m
  -47
  -19
  -20
  -21
  -22
  -23
  -24
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
  -64
Cash from investing activities, $m
  -59
  -53
  -58
  -63
  -68
  -73
  -79
  -83
  -89
  -95
  -102
  -109
  -116
  -123
  -130
  -137
  -146
  -154
  -163
  -172
  -182
  -192
  -202
  -213
  -225
  -236
  -249
  -262
  -275
  -290
  -305
Free cash flow, $m
  186
  238
  233
  312
  394
  480
  571
  665
  763
  866
  973
  1,083
  1,199
  1,320
  1,446
  1,578
  1,715
  1,858
  2,008
  2,165
  2,329
  2,500
  2,680
  2,867
  3,064
  3,271
  3,487
  3,714
  3,952
  4,203
  4,465
Issuance/(repayment) of debt, $m
  -5
  -85
  62
  65
  68
  71
  74
  77
  80
  83
  86
  89
  93
  97
  101
  105
  109
  113
  118
  123
  128
  134
  140
  146
  152
  159
  166
  174
  182
  191
  200
Issuance/(repurchase) of shares, $m
  3
  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  
  -3
  -85
  62
  65
  68
  71
  74
  77
  80
  83
  86
  89
  93
  97
  101
  105
  109
  113
  118
  123
  128
  134
  140
  146
  152
  159
  166
  174
  182
  191
  200
Total cash flow (excl. dividends), $m
  181
  153
  295
  377
  462
  551
  644
  742
  843
  949
  1,059
  1,172
  1,292
  1,417
  1,547
  1,682
  1,824
  1,972
  2,126
  2,288
  2,457
  2,634
  2,819
  3,013
  3,217
  3,430
  3,654
  3,888
  4,135
  4,393
  4,665
Retained Cash Flow (-), $m
  -185
  -151
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
Prev. year cash balance distribution, $m
 
  515
  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
 
  517
  288
  369
  454
  543
  636
  733
  834
  940
  1,049
  1,162
  1,282
  1,406
  1,535
  1,671
  1,812
  1,959
  2,113
  2,274
  2,443
  2,619
  2,804
  2,997
  3,200
  3,412
  3,635
  3,869
  4,114
  4,372
  4,642
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
 
  496
  264
  321
  374
  421
  462
  495
  521
  540
  550
  552
  547
  535
  515
  490
  460
  426
  389
  350
  310
  271
  233
  196
  163
  133
  106
  83
  64
  48
  35
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

Kate Spade & Company, together with its subsidiaries, designs and markets apparel and accessories. The company operates in three segments: KATE SPADE North America, KATE SPADE International, and Adelington Design Group. It offers briefcases, hand bags, small leather goods, fashion accessories, jewelry, and apparel for men, women, and children; and licensed products, including footwear, fragrances, swimwear, watches, children's wear, tech accessories, optics, tabletop products, legwear, fashion accessories, furniture, bedding, housewares, table linens, loungewear, pillows, lighting products, activewear, and stationery. The company markets and sells its products under the AXCESS, KATE SPADE SATURDAY, JACK SPADE, MARVELLA, KATE SPADE, MONET, kate spade new York, and TRIFARI brand names. It also designs, develops, and supplies jewelry for the LIZ CLAIBORNE and MONET brands; and licenses LIZWEAR brands. The company sells its products through specialty retail and outlet stores, specialty retail and upscale department stores, and concession stores and upscale wholesale accounts; and a network of distributors, as well as e-commerce platform. As of December 31, 2016, it had 104 specialty retail stores and 64 outlet stores in the United States; and 22 specialty retail stores, 52 concessions, and 13 outlet stores internationally. The company was formerly known as Fifth & Pacific Companies, Inc. and changed its name to Kate Spade & Company in February 2014. Kate Spade & Company was founded in 1976 and is based in New York, New York.

FINANCIAL RATIOS  of  Kate Spade (KATE)

Valuation Ratios
P/E Ratio 14.6
Price to Sales 1.6
Price to Book 5.2
Price to Tangible Book
Price to Cash Flow 9.2
Price to Free Cash Flow 11.4
Growth Rates
Sales Growth Rate 11.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -14.5%
Cap. Spend. - 3 Yr. Gr. Rate -6.3%
Financial Strength
Quick Ratio 130
Current Ratio -0
LT Debt to Equity 90.5%
Total Debt to Equity 91.4%
Interest Coverage 10
Management Effectiveness
Return On Assets 16.4%
Ret/ On Assets - 3 Yr. Avg. 0.5%
Return On Total Capital 21%
Ret/ On T. Cap. - 3 Yr. Avg. 18.8%
Return On Equity 45.6%
Return On Equity - 3 Yr. Avg. 80.9%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 59.9%
Gross Margin - 3 Yr. Avg. 60.1%
EBITDA Margin 16.1%
EBITDA Margin - 3 Yr. Avg. 10.1%
Operating Margin 13.3%
Oper. Margin - 3 Yr. Avg. 6.4%
Pre-Tax Margin 11.3%
Pre-Tax Margin - 3 Yr. Avg. 4.2%
Net Profit Margin 11.2%
Net Profit Margin - 3 Yr. Avg. 8.8%
Effective Tax Rate 2.6%
Eff/ Tax Rate - 3 Yr. Avg. 360.1%
Payout Ratio 0%

KATE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KATE stock intrinsic value calculation we used $1381 million for the last fiscal year's total revenue generated by Kate Spade. The default revenue input number comes from 2016 income statement of Kate Spade. 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 KATE stock valuation model: a) initial revenue growth rate of 11.1% 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 KATE is calculated based on our internal credit rating of Kate Spade, 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 Kate Spade.
    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 KATE stock the variable cost ratio is equal to 19.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $973 million in the base year in the intrinsic value calculation for KATE 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 4.3% for Kate Spade.

Corporate tax rate of 27% is the nominal tax rate for Kate Spade. 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 KATE 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 KATE are equal to 12.3%.

Life of production assets of 4.5 years is the average useful life of capital assets used in Kate Spade 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 KATE is equal to 1.4%. 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 - $430 million for Kate Spade - 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 128.282 million for Kate Spade 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 Kate Spade at the current share price and the inputted number of shares is $2.3 billion.


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COMPANY NEWS

▶ 10 Best Laptop Bags for Women   [Apr-20-17 06:22AM  TheStreet.com]
▶ Kate Spade Continues Plummet, Sale Interest Dims   [Apr-19-17 10:53AM  Investopedia]
▶ What If No One Buys Kate Spade?   [Apr-18-17 05:41PM  Barrons.com]
▶ Kate Spade: Just Get It Done Already!   [03:30PM  Barrons.com]
▶ Kate Spade Needs to Close Its Deal   [11:04AM  Bloomberg]
▶ Kate Spade misses Street 1Q forecasts   [08:59AM  Associated Press]
▶ These Stocks Show a Change of Direction   [Apr-10-17 02:00PM  TheStreet.com]
▶ Why Did Kate Spade Stock Plunge 15% on April 4?   [Apr-05-17 06:05PM  Market Realist]
▶ Kors: The Handbag War's Biggest Loser?   [11:14AM  at Barrons.com]
▶ Kate Spade Up for Grabs, Shares Up on Sale Talk   [Feb-21-17 04:56PM  at Investopedia]
Stock chart of KATE Financial statements of KATE
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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