Intrinsic value of Kraton - KRA

Previous Close

$35.08

  Intrinsic Value

$25.69

stock screener

  Rating & Target

sell

-27%

  Value-price divergence*

-79%

Previous close

$35.08

 
Intrinsic value

$25.69

 
Up/down potential

-27%

 
Rating

sell

 
Value-price divergence*

-79%

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

We calculate the intrinsic value of KRA 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 1.1

 

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, %
  68.50
  9.00
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  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
  5.26
  5.23
  5.21
  5.19
Revenue, $m
  1,744
  1,901
  2,064
  2,235
  2,411
  2,595
  2,786
  2,985
  3,191
  3,406
  3,629
  3,861
  4,102
  4,354
  4,616
  4,889
  5,174
  5,471
  5,781
  6,104
  6,443
  6,796
  7,166
  7,552
  7,956
  8,380
  8,823
  9,287
  9,773
  10,282
  10,815
Variable operating expenses, $m
 
  1,615
  1,747
  1,884
  2,027
  2,176
  2,331
  2,491
  2,658
  2,832
  3,012
  3,123
  3,318
  3,522
  3,734
  3,954
  4,185
  4,425
  4,676
  4,938
  5,211
  5,497
  5,796
  6,108
  6,436
  6,778
  7,136
  7,511
  7,905
  8,316
  8,748
Fixed operating expenses, $m
 
  139
  143
  146
  150
  154
  158
  162
  166
  170
  174
  178
  183
  187
  192
  197
  202
  207
  212
  217
  223
  228
  234
  240
  246
  252
  258
  265
  272
  278
  285
Total operating expenses, $m
  1,621
  1,754
  1,890
  2,030
  2,177
  2,330
  2,489
  2,653
  2,824
  3,002
  3,186
  3,301
  3,501
  3,709
  3,926
  4,151
  4,387
  4,632
  4,888
  5,155
  5,434
  5,725
  6,030
  6,348
  6,682
  7,030
  7,394
  7,776
  8,177
  8,594
  9,033
Operating income, $m
  123
  147
  175
  204
  234
  265
  298
  332
  367
  404
  443
  560
  601
  645
  690
  738
  787
  839
  893
  949
  1,009
  1,071
  1,136
  1,204
  1,275
  1,350
  1,428
  1,510
  1,597
  1,687
  1,782
EBITDA, $m
  249
  322
  358
  396
  435
  476
  518
  563
  609
  657
  706
  758
  813
  869
  928
  989
  1,054
  1,121
  1,191
  1,264
  1,341
  1,421
  1,505
  1,593
  1,685
  1,781
  1,882
  1,989
  2,100
  2,217
  2,339
Interest expense (income), $m
  116
  185
  209
  233
  259
  285
  313
  342
  372
  403
  435
  468
  503
  539
  577
  616
  657
  700
  745
  791
  840
  891
  944
  999
  1,057
  1,118
  1,181
  1,248
  1,318
  1,391
  1,467
Earnings before tax, $m
  13
  -38
  -34
  -30
  -25
  -20
  -15
  -10
  -4
  2
  8
  91
  98
  105
  113
  121
  130
  139
  148
  158
  169
  180
  192
  204
  218
  232
  247
  262
  279
  296
  315
Tax expense, $m
  -92
  0
  0
  0
  0
  0
  0
  0
  0
  0
  2
  25
  27
  28
  31
  33
  35
  37
  40
  43
  46
  49
  52
  55
  59
  63
  67
  71
  75
  80
  85
Net income, $m
  107
  -38
  -34
  -30
  -25
  -20
  -15
  -10
  -4
  1
  6
  67
  72
  77
  83
  88
  95
  101
  108
  115
  123
  131
  140
  149
  159
  169
  180
  191
  204
  216
  230

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  122
  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
  2,907
  3,142
  3,412
  3,693
  3,986
  4,290
  4,606
  4,934
  5,275
  5,629
  5,998
  6,382
  6,781
  7,196
  7,629
  8,081
  8,551
  9,042
  9,555
  10,090
  10,649
  11,233
  11,844
  12,483
  13,151
  13,851
  14,583
  15,350
  16,153
  16,994
  17,876
Adjusted assets (=assets-cash), $m
  2,785
  3,142
  3,412
  3,693
  3,986
  4,290
  4,606
  4,934
  5,275
  5,629
  5,998
  6,382
  6,781
  7,196
  7,629
  8,081
  8,551
  9,042
  9,555
  10,090
  10,649
  11,233
  11,844
  12,483
  13,151
  13,851
  14,583
  15,350
  16,153
  16,994
  17,876
Revenue / Adjusted assets
  0.626
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
  0.605
Average production assets, $m
  953
  1,038
  1,127
  1,220
  1,317
  1,417
  1,521
  1,630
  1,742
  1,860
  1,981
  2,108
  2,240
  2,377
  2,520
  2,669
  2,825
  2,987
  3,156
  3,333
  3,518
  3,711
  3,912
  4,123
  4,344
  4,575
  4,817
  5,071
  5,336
  5,614
  5,905
Working capital, $m
  410
  359
  390
  422
  456
  491
  527
  564
  603
  644
  686
  730
  775
  823
  872
  924
  978
  1,034
  1,093
  1,154
  1,218
  1,284
  1,354
  1,427
  1,504
  1,584
  1,667
  1,755
  1,847
  1,943
  2,044
Total debt, $m
  1,740
  1,933
  2,161
  2,397
  2,643
  2,899
  3,164
  3,440
  3,727
  4,025
  4,335
  4,658
  4,994
  5,343
  5,707
  6,087
  6,483
  6,896
  7,327
  7,777
  8,247
  8,738
  9,252
  9,789
  10,351
  10,939
  11,555
  12,200
  12,876
  13,583
  14,325
Total liabilities, $m
  2,449
  2,642
  2,870
  3,106
  3,352
  3,608
  3,873
  4,149
  4,436
  4,734
  5,044
  5,367
  5,703
  6,052
  6,416
  6,796
  7,192
  7,605
  8,036
  8,486
  8,956
  9,447
  9,961
  10,498
  11,060
  11,648
  12,264
  12,909
  13,585
  14,292
  15,034
Total equity, $m
  458
  500
  543
  587
  634
  682
  732
  784
  839
  895
  954
  1,015
  1,078
  1,144
  1,213
  1,285
  1,360
  1,438
  1,519
  1,604
  1,693
  1,786
  1,883
  1,985
  2,091
  2,202
  2,319
  2,441
  2,568
  2,702
  2,842
Total liabilities and equity, $m
  2,907
  3,142
  3,413
  3,693
  3,986
  4,290
  4,605
  4,933
  5,275
  5,629
  5,998
  6,382
  6,781
  7,196
  7,629
  8,081
  8,552
  9,043
  9,555
  10,090
  10,649
  11,233
  11,844
  12,483
  13,151
  13,850
  14,583
  15,350
  16,153
  16,994
  17,876
Debt-to-equity ratio
  3.799
  3.870
  3.980
  4.080
  4.170
  4.250
  4.320
  4.390
  4.440
  4.500
  4.550
  4.590
  4.630
  4.670
  4.700
  4.740
  4.770
  4.800
  4.820
  4.850
  4.870
  4.890
  4.910
  4.930
  4.950
  4.970
  4.980
  5.000
  5.010
  5.030
  5.040
Adjusted equity ratio
  0.121
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  107
  -38
  -34
  -30
  -25
  -20
  -15
  -10
  -4
  1
  6
  67
  72
  77
  83
  88
  95
  101
  108
  115
  123
  131
  140
  149
  159
  169
  180
  191
  204
  216
  230
Depreciation, amort., depletion, $m
  126
  175
  183
  192
  201
  211
  221
  231
  241
  252
  264
  199
  211
  224
  238
  252
  266
  282
  298
  314
  332
  350
  369
  389
  410
  432
  454
  478
  503
  530
  557
Funds from operations, $m
  134
  136
  149
  162
  176
  190
  205
  221
  237
  254
  270
  266
  283
  301
  320
  340
  361
  383
  406
  430
  455
  481
  509
  538
  569
  601
  634
  670
  707
  746
  787
Change in working capital, $m
  -4
  30
  31
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  59
  61
  64
  67
  70
  73
  76
  80
  84
  88
  92
  96
  101
Cash from operations, $m
  138
  107
  118
  130
  143
  156
  169
  183
  198
  213
  227
  222
  237
  254
  271
  289
  307
  327
  347
  369
  391
  415
  439
  465
  492
  521
  551
  582
  615
  650
  686
Maintenance CAPEX, $m
  0
  -90
  -98
  -106
  -115
  -124
  -134
  -144
  -154
  -164
  -175
  -187
  -199
  -211
  -224
  -238
  -252
  -266
  -282
  -298
  -314
  -332
  -350
  -369
  -389
  -410
  -432
  -454
  -478
  -503
  -530
New CAPEX, $m
  -125
  -85
  -89
  -93
  -97
  -100
  -104
  -108
  -113
  -117
  -122
  -127
  -132
  -137
  -143
  -149
  -155
  -162
  -169
  -177
  -185
  -193
  -202
  -211
  -221
  -231
  -242
  -253
  -265
  -278
  -291
Cash from investing activities, $m
  -1,365
  -175
  -187
  -199
  -212
  -224
  -238
  -252
  -267
  -281
  -297
  -314
  -331
  -348
  -367
  -387
  -407
  -428
  -451
  -475
  -499
  -525
  -552
  -580
  -610
  -641
  -674
  -707
  -743
  -781
  -821
Free cash flow, $m
  -1,227
  -68
  -69
  -69
  -69
  -69
  -69
  -69
  -68
  -68
  -70
  -92
  -93
  -95
  -96
  -98
  -100
  -102
  -104
  -106
  -108
  -110
  -113
  -115
  -117
  -120
  -123
  -126
  -129
  -132
  -135
Issuance/(repayment) of debt, $m
  1,339
  216
  227
  236
  246
  256
  266
  276
  287
  298
  310
  323
  336
  350
  364
  380
  396
  413
  431
  450
  470
  491
  514
  537
  562
  588
  616
  645
  675
  708
  742
Issuance/(repurchase) of shares, $m
  3
  80
  77
  74
  72
  69
  65
  62
  58
  55
  53
  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  
  1,280
  296
  304
  310
  318
  325
  331
  338
  345
  353
  363
  323
  336
  350
  364
  380
  396
  413
  431
  450
  470
  491
  514
  537
  562
  588
  616
  645
  675
  708
  742
Total cash flow (excl. dividends), $m
  52
  229
  235
  242
  248
  255
  262
  269
  277
  285
  293
  231
  242
  255
  268
  281
  296
  311
  327
  344
  362
  381
  401
  422
  445
  468
  493
  519
  547
  576
  607
Retained Cash Flow (-), $m
  -99
  -80
  -77
  -74
  -72
  -69
  -65
  -62
  -58
  -56
  -59
  -61
  -63
  -66
  -69
  -72
  -75
  -78
  -81
  -85
  -89
  -93
  -97
  -102
  -106
  -111
  -116
  -122
  -128
  -134
  -140
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
 
  148
  158
  168
  177
  187
  197
  207
  219
  229
  235
  170
  179
  189
  199
  210
  221
  233
  246
  259
  273
  288
  304
  321
  338
  357
  377
  397
  419
  442
  467
Discount rate, %
 
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.84
  17.69
  18.57
  19.50
  20.47
  21.50
  22.57
  23.70
  24.88
  26.13
  27.44
  28.81
  30.25
  31.76
  33.35
  35.02
  36.77
  38.60
  40.53
  42.56
  44.69
  46.92
PV of cash for distribution, $m
 
  133
  126
  117
  108
  98
  87
  77
  66
  56
  46
  26
  21
  17
  13
  10
  7
  5
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  93.1
  87.3
  82.5
  78.4
  75.0
  72.0
  69.5
  67.4
  65.5
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9
  63.9

Kraton Corporation produces and sells styrenic block copolymers (SBCs) and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers performance products comprising unhydrogenated SBCs, which are primarily used in paving, roofing, adhesives, sealants, coatings, and footwear applications; and specialty polymers consisting of hydrogenated SBCs that are used in lubricant additives, polymer modification, personal care, cable gels, and adhesives and coatings, as well as in medical, industrial, consumer, and other applications. The company’s products are also used in wire and cable; fabric; oilfield; and soft touch overmolding, protective cling films, and other polymer modification applications. It also provides isoprene rubber products that have applications in medical products, paints, coatings, and specialized footwear; and isoprene rubber latex products primarily for use in synthetic surgical gloves and condoms, as well as in medical, healthcare, personal care, and food contact operations. In addition, the company offers pine-based specialty products for use in adhesive, road and construction, and tire markets; and a range of chemical intermediates, such as tall oil fatty acids, dimer acids, tall oil rosins, distilled tall oils, terpene fractions, alpha-pinenes, and beta-pinenes for various markets, including fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks, flavors and fragrances, and mining. Kraton Corporation markets its products through various channels, including direct sales force, marketing representatives, and distributors under the Kraton, NEXAR, and Cariflex brands. The company was formerly known as Kraton Performance Polymers, Inc. and changed its name to Kraton Corporation in September 2016. Kraton Corporation is headquartered in Houston, Texas.

FINANCIAL RATIOS  of  Kraton (KRA)

Valuation Ratios
P/E Ratio 10.2
Price to Sales 0.6
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 7.9
Price to Free Cash Flow 83.5
Growth Rates
Sales Growth Rate 68.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.1%
Cap. Spend. - 3 Yr. Gr. Rate 7.8%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 370.7%
Total Debt to Equity 379.9%
Interest Coverage 1
Management Effectiveness
Return On Assets 52.4%
Ret/ On Assets - 3 Yr. Avg. 18.7%
Return On Total Capital 7.2%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity 26.2%
Return On Equity - 3 Yr. Avg. 7.9%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 27.5%
Gross Margin - 3 Yr. Avg. 23.1%
EBITDA Margin 14.6%
EBITDA Margin - 3 Yr. Avg. 9.9%
Operating Margin 7.1%
Oper. Margin - 3 Yr. Avg. 3.8%
Pre-Tax Margin 0.7%
Pre-Tax Margin - 3 Yr. Avg. 0.2%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 1.7%
Effective Tax Rate -707.7%
Eff/ Tax Rate - 3 Yr. Avg. -247%
Payout Ratio 0%

KRA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KRA stock intrinsic value calculation we used $1744 million for the last fiscal year's total revenue generated by Kraton. The default revenue input number comes from 2016 income statement of Kraton. 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 KRA stock valuation model: a) initial revenue growth rate of 9% 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 11.4%, whose default value for KRA is calculated based on our internal credit rating of Kraton, 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 Kraton.
    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 KRA stock the variable cost ratio is equal to 85.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $136 million in the base year in the intrinsic value calculation for KRA 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 10.8% for Kraton.

Corporate tax rate of 27% is the nominal tax rate for Kraton. 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 KRA 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 KRA are equal to 54.6%.

Life of production assets of 10.6 years is the average useful life of capital assets used in Kraton 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 KRA is equal to 18.9%. 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 - $458 million for Kraton - 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 30.624 million for Kraton 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 Kraton at the current share price and the inputted number of shares is $1.1 billion.

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COMPANY NEWS

▶ Kraton Corp. Value Analysis (NYSE:KRA) : June 30, 2017   [Jun-30-17 03:59PM  Capital Cube]
▶ Huntsman and Clariant announce merger to create $20B chemical co.   [May-22-17 08:02AM  American City Business Journals]
▶ Kraton Announces Opening of HSBC Plant in Taiwan   [May-09-17 10:00AM  PR Newswire]
▶ ETFs with exposure to Kraton Corp. : May 5, 2017   [May-05-17 04:16PM  Capital Cube]
▶ Kraton posts 1Q profit   [Apr-26-17 04:49PM  Associated Press]
▶ Baron Funds Comments on Kraton Corp   [Mar-16-17 03:57PM  GuruFocus.com]
▶ Kraton Announces Global HSBC and SBS Price Increase   [Feb-28-17 06:08PM  PR Newswire]
▶ Kraton reports 4Q loss   [Feb-27-17 06:04PM  Associated Press]
▶ Kraton Announces Global SIS Price Increase   [Jan-30-17 06:00PM  PR Newswire]
▶ Kraton Announces Global SBS Price Increase   [Jan-27-17 03:00PM  PR Newswire]
▶ Kraton Announces Global HSBC Price Increase   [Jan-16-17 06:00PM  PR Newswire]
▶ Is Milacron Holdings Corp (MCRN) Going To Burn Investors?   [Dec-15-16 06:33PM  at Insider Monkey]
▶ Should You Avoid Standard Motor Products, Inc. (SMP)?   [Dec-11-16 05:36AM  at Insider Monkey]
▶ Hedge Funds Are Betting On Kraton Corp (KRA)   [Dec-06-16 09:56AM  at Insider Monkey]
▶ Announcing New Innovation Polymer - Kraton G1653 Polymer   [Sep-21-16 10:00AM  PR Newswire]
Stock chart of KRA Financial statements of KRA Annual reports of KRA
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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