Intrinsic value of Coca-Cola Femsa ADR - KOF

Previous Close

$61.13

  Intrinsic Value

$6.06

stock screener

  Rating & Target

str. sell

-90%

Previous close

$61.13

 
Intrinsic value

$6.06

 
Up/down potential

-90%

 
Rating

str. sell

We calculate the intrinsic value of KOF 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, %
  16.63
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  9,004
  8,743
  8,945
  9,174
  9,432
  9,718
  10,032
  10,374
  10,744
  11,142
  11,570
  12,027
  12,515
  13,035
  13,587
  14,174
  14,795
  15,452
  16,147
  16,882
  17,658
  18,476
  19,340
  20,249
  21,208
  22,218
  23,281
  24,400
  25,577
  26,816
  28,119
Variable operating expenses, $m
 
  1,842
  1,870
  1,903
  1,940
  1,980
  2,025
  2,074
  2,126
  2,183
  2,244
  1,711
  1,780
  1,854
  1,933
  2,016
  2,105
  2,198
  2,297
  2,401
  2,512
  2,628
  2,751
  2,880
  3,017
  3,160
  3,312
  3,471
  3,638
  3,815
  4,000
Fixed operating expenses, $m
 
  5,836
  5,964
  6,095
  6,229
  6,366
  6,506
  6,650
  6,796
  6,945
  7,098
  7,254
  7,414
  7,577
  7,744
  7,914
  8,088
  8,266
  8,448
  8,634
  8,824
  9,018
  9,216
  9,419
  9,626
  9,838
  10,054
  10,276
  10,502
  10,733
  10,969
Total operating expenses, $m
  7,964
  7,678
  7,834
  7,998
  8,169
  8,346
  8,531
  8,724
  8,922
  9,128
  9,342
  8,965
  9,194
  9,431
  9,677
  9,930
  10,193
  10,464
  10,745
  11,035
  11,336
  11,646
  11,967
  12,299
  12,643
  12,998
  13,366
  13,747
  14,140
  14,548
  14,969
Operating income, $m
  1,040
  1,066
  1,110
  1,176
  1,264
  1,372
  1,501
  1,651
  1,822
  2,014
  2,228
  3,062
  3,321
  3,604
  3,911
  4,243
  4,602
  4,988
  5,403
  5,847
  6,322
  6,830
  7,372
  7,950
  8,565
  9,219
  9,915
  10,653
  11,437
  12,268
  13,150
EBITDA, $m
  1,479
  2,548
  2,612
  2,702
  2,815
  2,952
  3,113
  3,297
  3,506
  3,738
  3,996
  4,278
  4,586
  4,922
  5,285
  5,676
  6,098
  6,550
  7,035
  7,554
  8,107
  8,698
  9,327
  9,997
  10,709
  11,465
  12,268
  13,120
  14,023
  14,979
  15,993
Interest expense (income), $m
  209
  387
  401
  416
  433
  452
  473
  496
  522
  549
  579
  611
  645
  681
  720
  761
  804
  851
  900
  951
  1,006
  1,064
  1,124
  1,189
  1,256
  1,327
  1,403
  1,482
  1,565
  1,652
  1,744
Earnings before tax, $m
  732
  679
  710
  761
  831
  920
  1,028
  1,154
  1,300
  1,465
  1,649
  2,451
  2,676
  2,923
  3,191
  3,482
  3,798
  4,137
  4,503
  4,896
  5,316
  5,767
  6,248
  6,761
  7,309
  7,892
  8,512
  9,171
  9,872
  10,616
  11,405
Tax expense, $m
  199
  183
  192
  205
  224
  248
  277
  312
  351
  395
  445
  662
  723
  789
  862
  940
  1,025
  1,117
  1,216
  1,322
  1,435
  1,557
  1,687
  1,826
  1,973
  2,131
  2,298
  2,476
  2,665
  2,866
  3,079
Net income, $m
  510
  496
  518
  555
  606
  672
  750
  843
  949
  1,069
  1,204
  1,789
  1,954
  2,134
  2,330
  2,542
  2,772
  3,020
  3,287
  3,574
  3,881
  4,210
  4,561
  4,936
  5,335
  5,761
  6,214
  6,695
  7,207
  7,750
  8,326

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  531
  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
  14,149
  13,748
  14,064
  14,425
  14,831
  15,281
  15,774
  16,311
  16,893
  17,519
  18,191
  18,911
  19,678
  20,495
  21,364
  22,285
  23,262
  24,296
  25,389
  26,544
  27,764
  29,051
  30,408
  31,839
  33,346
  34,933
  36,605
  38,364
  40,215
  42,163
  44,212
Adjusted assets (=assets-cash), $m
  13,618
  13,748
  14,064
  14,425
  14,831
  15,281
  15,774
  16,311
  16,893
  17,519
  18,191
  18,911
  19,678
  20,495
  21,364
  22,285
  23,262
  24,296
  25,389
  26,544
  27,764
  29,051
  30,408
  31,839
  33,346
  34,933
  36,605
  38,364
  40,215
  42,163
  44,212
Revenue / Adjusted assets
  0.661
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
  0.636
Average production assets, $m
  6,990
  8,840
  9,043
  9,275
  9,536
  9,825
  10,143
  10,488
  10,862
  11,265
  11,697
  12,160
  12,653
  13,178
  13,737
  14,329
  14,957
  15,622
  16,325
  17,068
  17,852
  18,680
  19,552
  20,472
  21,441
  22,462
  23,537
  24,668
  25,858
  27,111
  28,428
Working capital, $m
  283
  219
  224
  229
  236
  243
  251
  259
  269
  279
  289
  301
  313
  326
  340
  354
  370
  386
  404
  422
  441
  462
  483
  506
  530
  555
  582
  610
  639
  670
  703
Total debt, $m
  4,518
  4,770
  4,948
  5,151
  5,380
  5,633
  5,911
  6,213
  6,540
  6,893
  7,272
  7,677
  8,109
  8,569
  9,058
  9,577
  10,126
  10,708
  11,324
  11,974
  12,661
  13,385
  14,150
  14,955
  15,804
  16,697
  17,638
  18,629
  19,671
  20,768
  21,921
Total liabilities, $m
  7,961
  7,740
  7,918
  8,121
  8,350
  8,603
  8,881
  9,183
  9,511
  9,863
  10,242
  10,647
  11,079
  11,539
  12,028
  12,547
  13,097
  13,679
  14,294
  14,944
  15,631
  16,356
  17,120
  17,925
  18,774
  19,667
  20,609
  21,599
  22,641
  23,738
  24,891
Total equity, $m
  6,188
  6,008
  6,146
  6,304
  6,481
  6,678
  6,893
  7,128
  7,382
  7,656
  7,950
  8,264
  8,599
  8,957
  9,336
  9,739
  10,166
  10,617
  11,095
  11,600
  12,133
  12,695
  13,288
  13,913
  14,572
  15,266
  15,996
  16,765
  17,574
  18,425
  19,320
Total liabilities and equity, $m
  14,149
  13,748
  14,064
  14,425
  14,831
  15,281
  15,774
  16,311
  16,893
  17,519
  18,192
  18,911
  19,678
  20,496
  21,364
  22,286
  23,263
  24,296
  25,389
  26,544
  27,764
  29,051
  30,408
  31,838
  33,346
  34,933
  36,605
  38,364
  40,215
  42,163
  44,211
Debt-to-equity ratio
  0.730
  0.790
  0.810
  0.820
  0.830
  0.840
  0.860
  0.870
  0.890
  0.900
  0.910
  0.930
  0.940
  0.960
  0.970
  0.980
  1.000
  1.010
  1.020
  1.030
  1.040
  1.050
  1.060
  1.070
  1.080
  1.090
  1.100
  1.110
  1.120
  1.130
  1.130
Adjusted equity ratio
  0.421
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  510
  496
  518
  555
  606
  672
  750
  843
  949
  1,069
  1,204
  1,789
  1,954
  2,134
  2,330
  2,542
  2,772
  3,020
  3,287
  3,574
  3,881
  4,210
  4,561
  4,936
  5,335
  5,761
  6,214
  6,695
  7,207
  7,750
  8,326
Depreciation, amort., depletion, $m
  439
  1,482
  1,502
  1,525
  1,552
  1,580
  1,612
  1,647
  1,684
  1,724
  1,768
  1,216
  1,265
  1,318
  1,374
  1,433
  1,496
  1,562
  1,633
  1,707
  1,785
  1,868
  1,955
  2,047
  2,144
  2,246
  2,354
  2,467
  2,586
  2,711
  2,843
Funds from operations, $m
  1,678
  1,978
  2,020
  2,081
  2,158
  2,252
  2,362
  2,489
  2,633
  2,793
  2,971
  3,005
  3,219
  3,451
  3,703
  3,975
  4,268
  4,583
  4,920
  5,281
  5,666
  6,078
  6,516
  6,983
  7,479
  8,007
  8,567
  9,162
  9,792
  10,461
  11,169
Change in working capital, $m
  34
  4
  5
  6
  6
  7
  8
  9
  9
  10
  11
  11
  12
  13
  14
  15
  16
  16
  17
  18
  19
  20
  22
  23
  24
  25
  27
  28
  29
  31
  33
Cash from operations, $m
  1,644
  1,973
  2,015
  2,075
  2,152
  2,245
  2,355
  2,481
  2,624
  2,784
  2,961
  2,994
  3,207
  3,438
  3,689
  3,961
  4,252
  4,566
  4,902
  5,262
  5,647
  6,057
  6,495
  6,960
  7,455
  7,982
  8,541
  9,134
  9,763
  10,430
  11,136
Maintenance CAPEX, $m
  0
  -866
  -884
  -904
  -928
  -954
  -983
  -1,014
  -1,049
  -1,086
  -1,126
  -1,170
  -1,216
  -1,265
  -1,318
  -1,374
  -1,433
  -1,496
  -1,562
  -1,633
  -1,707
  -1,785
  -1,868
  -1,955
  -2,047
  -2,144
  -2,246
  -2,354
  -2,467
  -2,586
  -2,711
New CAPEX, $m
  -643
  -177
  -203
  -232
  -261
  -289
  -317
  -345
  -374
  -403
  -432
  -462
  -494
  -525
  -558
  -593
  -628
  -665
  -703
  -743
  -784
  -827
  -873
  -920
  -969
  -1,021
  -1,075
  -1,131
  -1,190
  -1,252
  -1,317
Cash from investing activities, $m
  -1,364
  -1,043
  -1,087
  -1,136
  -1,189
  -1,243
  -1,300
  -1,359
  -1,423
  -1,489
  -1,558
  -1,632
  -1,710
  -1,790
  -1,876
  -1,967
  -2,061
  -2,161
  -2,265
  -2,376
  -2,491
  -2,612
  -2,741
  -2,875
  -3,016
  -3,165
  -3,321
  -3,485
  -3,657
  -3,838
  -4,028
Free cash flow, $m
  280
  930
  928
  938
  963
  1,002
  1,055
  1,121
  1,201
  1,295
  1,402
  1,362
  1,497
  1,648
  1,813
  1,994
  2,192
  2,406
  2,637
  2,887
  3,156
  3,444
  3,754
  4,085
  4,439
  4,817
  5,220
  5,649
  6,106
  6,592
  7,108
Issuance/(repayment) of debt, $m
  157
  161
  178
  203
  228
  253
  278
  302
  327
  353
  379
  405
  432
  460
  489
  519
  550
  582
  615
  650
  687
  725
  764
  805
  849
  894
  941
  990
  1,042
  1,097
  1,153
Issuance/(repurchase) of shares, $m
  42
  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  
  -138
  161
  178
  203
  228
  253
  278
  302
  327
  353
  379
  405
  432
  460
  489
  519
  550
  582
  615
  650
  687
  725
  764
  805
  849
  894
  941
  990
  1,042
  1,097
  1,153
Total cash flow (excl. dividends), $m
  76
  1,091
  1,106
  1,142
  1,192
  1,255
  1,333
  1,424
  1,528
  1,647
  1,780
  1,767
  1,929
  2,108
  2,302
  2,513
  2,741
  2,988
  3,253
  3,537
  3,842
  4,169
  4,518
  4,891
  5,288
  5,711
  6,161
  6,640
  7,148
  7,688
  8,261
Retained Cash Flow (-), $m
  -881
  -117
  -138
  -158
  -177
  -196
  -216
  -235
  -254
  -274
  -294
  -314
  -335
  -357
  -380
  -403
  -427
  -452
  -478
  -505
  -533
  -562
  -593
  -625
  -659
  -694
  -730
  -769
  -809
  -851
  -895
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
 
  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
 
  974
  968
  984
  1,014
  1,059
  1,117
  1,189
  1,274
  1,373
  1,487
  1,452
  1,594
  1,751
  1,923
  2,110
  2,315
  2,536
  2,775
  3,033
  3,309
  3,607
  3,925
  4,265
  4,629
  5,017
  5,430
  5,871
  6,339
  6,837
  7,366
Discount rate, %
 
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
 
  923
  863
  822
  789
  762
  738
  716
  695
  672
  646
  556
  532
  504
  472
  436
  397
  357
  316
  275
  235
  197
  162
  130
  103
  79
  59
  44
  31
  22
  15
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

Coca-Cola FEMSA, S.A.B. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities. The Company's segments include Mexico and Central America division, which comprises Mexico (including corporate operations), Guatemala, Nicaragua, Costa Rica and Panama; the South America division, which consists of Brazil, Argentina and Colombia; Venezuela, which operates in an economy with exchange control and hyper-inflation, and the Asian division, which consists of the Company's equity method investment in Coca-Cola FEMSA Philippines, Inc. The Coca-Cola trademark beverages include sparkling beverages (colas and flavored sparkling beverages), waters and still beverages (including juice drinks, coffee, teas, milk, dairy and isotonic drinks).

FINANCIAL RATIOS  of  Coca-Cola Femsa ADR (KOF)

Valuation Ratios
P/E Ratio 248.5
Price to Sales 14.1
Price to Book 20.5
Price to Tangible Book
Price to Cash Flow 77.1
Price to Free Cash Flow 126.6
Growth Rates
Sales Growth Rate 16.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.3%
Cap. Spend. - 3 Yr. Gr. Rate 1.4%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 70.5%
Total Debt to Equity 73%
Interest Coverage 5
Management Effectiveness
Return On Assets 5.3%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 5.3%
Ret/ On T. Cap. - 3 Yr. Avg. 5.8%
Return On Equity 8.9%
Return On Equity - 3 Yr. Avg. 9.4%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 44.8%
Gross Margin - 3 Yr. Avg. 46.2%
EBITDA Margin 15.3%
EBITDA Margin - 3 Yr. Avg. 16.4%
Operating Margin 11.6%
Oper. Margin - 3 Yr. Avg. 13.5%
Pre-Tax Margin 8.1%
Pre-Tax Margin - 3 Yr. Avg. 9.3%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 27.2%
Eff/ Tax Rate - 3 Yr. Avg. 27.9%
Payout Ratio 69.6%

KOF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KOF stock intrinsic value calculation we used $8572 million for the last fiscal year's total revenue generated by Coca-Cola Femsa ADR. The default revenue input number comes from 2016 income statement of Coca-Cola Femsa ADR. 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 KOF stock valuation model: a) initial revenue growth rate of 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 5.6%, whose default value for KOF is calculated based on our internal credit rating of Coca-Cola Femsa ADR, 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 Coca-Cola Femsa ADR.
    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 KOF stock the variable cost ratio is equal to 21.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $5710 million in the base year in the intrinsic value calculation for KOF 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 8.4% for Coca-Cola Femsa ADR.

Corporate tax rate of 27% is the nominal tax rate for Coca-Cola Femsa ADR. 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 KOF 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 KOF are equal to 101.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Coca-Cola Femsa ADR 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 KOF is equal to 2.5%. 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 - $5891 million for Coca-Cola Femsa ADR - 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 2073 million for Coca-Cola Femsa ADR 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 Coca-Cola Femsa ADR at the current share price and the inputted number of shares is $126.7 billion.

RELATED COMPANIES Price Int.Val. Rating
FMX Fomento Econom 95.60 7.59  str.sell
PEP PepsiCo 116.01 101.62  hold
KO Coca-Cola 45.28 13.92  str.sell
COKE Coca-Cola Bott 138.20 1,144.90  str.buy

COMPANY NEWS

▶ Should You Buy Coca-Cola FEMSA SAB de CV (NYSE:KOF) Now?   [Jun-26-18 09:26AM  Simply Wall St.]
▶ PepsiCo Bottler Halts Operations in Mexican Town   [Jun-11-18 06:43PM  Bloomberg]
▶ Coca-Cola FEMSA: 1Q Earnings Snapshot   [Apr-26-18 11:24AM  Associated Press]
▶ New Strong Sell Stocks for April 4th   [Apr-04-18 09:18AM  Zacks]
▶ New Strong Sell Stocks for February 8th   [Feb-08-18 09:24AM  Zacks]
▶ New Strong Sell Stocks for February 2nd   [Feb-02-18 05:58AM  Zacks]
▶ New Strong Sell Stocks for January 29th   [Jan-29-18 04:59AM  Zacks]
▶ New Strong Sell Stocks for January 23rd   [Jan-23-18 07:59AM  Zacks]
▶ Mexico's Femsa third-quarter profit jumps 385 pct   [Oct-26-17 06:04PM  Reuters]
▶ How To Invest In Mexican Stocks   [Sep-09-17 10:32AM  Motley Fool]
▶ 5 Discounted PEG Stocks for GARP Investors   [Aug-14-17 09:05AM  Zacks]
▶ New Strong Buy Stocks for August 9th   [Aug-09-17 07:50AM  Zacks]
▶ New Strong Buy Stocks for August 7th   [Aug-07-17 09:34AM  Zacks]
▶ Coca-Cola FEMSA posts 2Q profit   [Jul-24-17 07:37PM  Associated Press]
▶ Coca-Cola FEMSA Second Quarter 2017 Conference Call   [Jul-06-17 04:12PM  Marketwired]
▶ Coca-Cola FEMSA Scraps Plans for US Operations   [May-16-17 06:18PM  Investopedia]
▶ Coca-Cola FEMSA CEO: Tax sugar, not soft drinks   [May-10-17 09:41AM  American City Business Journals]
▶ 2017 First Quarter Results   [09:10AM  Marketwired]
▶ 3 Mexico Experts: Peso Rises, Week In Review   [Feb-24-17 06:13PM  Barrons.com]
▶ 3 Mexico Experts: Peso Rises, Week In Review   [06:13PM  at Barrons.com]
▶ 2016 Fourth Quarter and Full Year Results   [08:30AM  Marketwired]
▶ Unilever Stock Rises: Would It Spin Off EU Assets?   [Feb-22-17 03:56PM  at Barrons.com]
▶ Coca-Cola FEMSA Fourth Quarter 2016 Conference Call   [Feb-07-17 04:20PM  Marketwired]
▶ Is Coca-Cola FEMSA, S.A.B. de C.V. (ADR) (KOF) a Good Buy?   [Dec-12-16 05:04PM  at Insider Monkey]
Financial statements of KOF
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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