Intrinsic value of Kansas City Southern - KSU

Previous Close

$107.49

  Intrinsic Value

$9.57

stock screener

  Rating & Target

str. sell

-91%

  Value-price divergence*

-46%

Previous close

$107.49

 
Intrinsic value

$9.57

 
Up/down potential

-91%

 
Rating

str. sell

 
Value-price divergence*

-46%

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

We calculate the intrinsic value of KSU 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 11.5

 

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, %
  -3.51
  8.30
  7.97
  7.67
  7.41
  7.17
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
Revenue, $m
  2,334
  2,528
  2,729
  2,939
  3,156
  3,382
  3,617
  3,862
  4,116
  4,380
  4,655
  4,941
  5,240
  5,550
  5,874
  6,212
  6,565
  6,934
  7,319
  7,721
  8,141
  8,581
  9,041
  9,522
  10,026
  10,554
  11,107
  11,686
  12,293
  12,928
  13,595
Variable operating expenses, $m
 
  1,696
  1,831
  1,972
  2,118
  2,270
  2,427
  2,591
  2,762
  2,939
  3,123
  3,316
  3,516
  3,724
  3,942
  4,169
  4,405
  4,653
  4,911
  5,181
  5,463
  5,758
  6,066
  6,390
  6,728
  7,082
  7,453
  7,841
  8,248
  8,675
  9,122
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
  1,516
  1,696
  1,831
  1,972
  2,118
  2,270
  2,427
  2,591
  2,762
  2,939
  3,123
  3,316
  3,516
  3,724
  3,942
  4,169
  4,405
  4,653
  4,911
  5,181
  5,463
  5,758
  6,066
  6,390
  6,728
  7,082
  7,453
  7,841
  8,248
  8,675
  9,122
Operating income, $m
  819
  832
  898
  967
  1,038
  1,113
  1,190
  1,270
  1,354
  1,441
  1,531
  1,626
  1,724
  1,826
  1,933
  2,044
  2,160
  2,281
  2,408
  2,540
  2,678
  2,823
  2,974
  3,133
  3,299
  3,472
  3,654
  3,845
  4,044
  4,253
  4,473
EBITDA, $m
  1,124
  1,161
  1,254
  1,350
  1,450
  1,554
  1,662
  1,774
  1,891
  2,013
  2,139
  2,271
  2,408
  2,550
  2,699
  2,855
  3,017
  3,186
  3,363
  3,548
  3,741
  3,943
  4,154
  4,376
  4,607
  4,850
  5,104
  5,370
  5,648
  5,941
  6,247
Interest expense (income), $m
  84
  81
  94
  108
  122
  137
  152
  168
  185
  202
  220
  239
  259
  279
  300
  323
  346
  370
  395
  421
  449
  477
  507
  539
  572
  606
  642
  680
  720
  761
  804
Earnings before tax, $m
  663
  751
  804
  859
  916
  976
  1,038
  1,102
  1,169
  1,239
  1,311
  1,386
  1,465
  1,547
  1,632
  1,721
  1,814
  1,911
  2,013
  2,119
  2,230
  2,346
  2,467
  2,594
  2,727
  2,866
  3,012
  3,165
  3,325
  3,492
  3,668
Tax expense, $m
  183
  203
  217
  232
  247
  264
  280
  298
  316
  334
  354
  374
  396
  418
  441
  465
  490
  516
  543
  572
  602
  633
  666
  700
  736
  774
  813
  854
  898
  943
  990
Net income, $m
  478
  548
  587
  627
  669
  712
  758
  805
  853
  904
  957
  1,012
  1,069
  1,129
  1,192
  1,257
  1,324
  1,395
  1,469
  1,547
  1,628
  1,712
  1,801
  1,894
  1,991
  2,092
  2,199
  2,310
  2,427
  2,549
  2,678

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  171
  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
  8,818
  9,362
  10,108
  10,884
  11,690
  12,527
  13,398
  14,303
  15,243
  16,222
  17,241
  18,301
  19,406
  20,557
  21,757
  23,009
  24,316
  25,680
  27,106
  28,595
  30,153
  31,781
  33,485
  35,268
  37,135
  39,089
  41,136
  43,281
  45,528
  47,883
  50,351
Adjusted assets (=assets-cash), $m
  8,647
  9,362
  10,108
  10,884
  11,690
  12,527
  13,398
  14,303
  15,243
  16,222
  17,241
  18,301
  19,406
  20,557
  21,757
  23,009
  24,316
  25,680
  27,106
  28,595
  30,153
  31,781
  33,485
  35,268
  37,135
  39,089
  41,136
  43,281
  45,528
  47,883
  50,351
Revenue / Adjusted assets
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
Average production assets, $m
  7,888
  8,544
  9,225
  9,932
  10,668
  11,432
  12,227
  13,053
  13,911
  14,804
  15,734
  16,702
  17,710
  18,760
  19,856
  20,998
  22,191
  23,436
  24,737
  26,096
  27,517
  29,004
  30,558
  32,186
  33,889
  35,673
  37,541
  39,498
  41,549
  43,698
  45,951
Working capital, $m
  -96
  -66
  -71
  -76
  -82
  -88
  -94
  -100
  -107
  -114
  -121
  -128
  -136
  -144
  -153
  -162
  -171
  -180
  -190
  -201
  -212
  -223
  -235
  -248
  -261
  -274
  -289
  -304
  -320
  -336
  -353
Total debt, $m
  2,478
  2,684
  3,077
  3,486
  3,910
  4,352
  4,811
  5,287
  5,783
  6,299
  6,836
  7,395
  7,977
  8,583
  9,216
  9,876
  10,565
  11,284
  12,035
  12,820
  13,640
  14,499
  15,397
  16,336
  17,320
  18,350
  19,429
  20,559
  21,743
  22,984
  24,285
Total liabilities, $m
  4,728
  4,934
  5,327
  5,736
  6,160
  6,602
  7,061
  7,537
  8,033
  8,549
  9,086
  9,645
  10,227
  10,833
  11,466
  12,126
  12,815
  13,534
  14,285
  15,070
  15,890
  16,749
  17,647
  18,586
  19,570
  20,600
  21,679
  22,809
  23,993
  25,234
  26,535
Total equity, $m
  4,090
  4,428
  4,781
  5,148
  5,529
  5,925
  6,337
  6,765
  7,210
  7,673
  8,155
  8,656
  9,179
  9,723
  10,291
  10,883
  11,501
  12,147
  12,821
  13,526
  14,262
  15,033
  15,838
  16,682
  17,565
  18,489
  19,457
  20,472
  21,535
  22,649
  23,816
Total liabilities and equity, $m
  8,818
  9,362
  10,108
  10,884
  11,689
  12,527
  13,398
  14,302
  15,243
  16,222
  17,241
  18,301
  19,406
  20,556
  21,757
  23,009
  24,316
  25,681
  27,106
  28,596
  30,152
  31,782
  33,485
  35,268
  37,135
  39,089
  41,136
  43,281
  45,528
  47,883
  50,351
Debt-to-equity ratio
  0.606
  0.610
  0.640
  0.680
  0.710
  0.730
  0.760
  0.780
  0.800
  0.820
  0.840
  0.850
  0.870
  0.880
  0.900
  0.910
  0.920
  0.930
  0.940
  0.950
  0.960
  0.960
  0.970
  0.980
  0.990
  0.990
  1.000
  1.000
  1.010
  1.010
  1.020
Adjusted equity ratio
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473
  0.473

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  478
  548
  587
  627
  669
  712
  758
  805
  853
  904
  957
  1,012
  1,069
  1,129
  1,192
  1,257
  1,324
  1,395
  1,469
  1,547
  1,628
  1,712
  1,801
  1,894
  1,991
  2,092
  2,199
  2,310
  2,427
  2,549
  2,678
Depreciation, amort., depletion, $m
  305
  330
  356
  383
  412
  441
  472
  504
  537
  572
  607
  645
  684
  724
  767
  811
  857
  905
  955
  1,008
  1,062
  1,120
  1,180
  1,243
  1,308
  1,377
  1,449
  1,525
  1,604
  1,687
  1,774
Funds from operations, $m
  946
  878
  943
  1,011
  1,081
  1,154
  1,230
  1,309
  1,390
  1,476
  1,565
  1,657
  1,753
  1,854
  1,958
  2,067
  2,181
  2,300
  2,424
  2,554
  2,690
  2,832
  2,981
  3,136
  3,299
  3,470
  3,648
  3,835
  4,031
  4,237
  4,452
Change in working capital, $m
  33
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -17
  -17
Cash from operations, $m
  913
  883
  948
  1,016
  1,087
  1,160
  1,236
  1,315
  1,397
  1,483
  1,572
  1,664
  1,761
  1,862
  1,967
  2,076
  2,190
  2,310
  2,435
  2,565
  2,701
  2,844
  2,993
  3,149
  3,312
  3,483
  3,663
  3,850
  4,047
  4,253
  4,469
Maintenance CAPEX, $m
  0
  -305
  -330
  -356
  -383
  -412
  -441
  -472
  -504
  -537
  -572
  -607
  -645
  -684
  -724
  -767
  -811
  -857
  -905
  -955
  -1,008
  -1,062
  -1,120
  -1,180
  -1,243
  -1,308
  -1,377
  -1,449
  -1,525
  -1,604
  -1,687
New CAPEX, $m
  -591
  -656
  -681
  -708
  -736
  -764
  -794
  -826
  -859
  -893
  -929
  -968
  -1,008
  -1,051
  -1,095
  -1,143
  -1,193
  -1,245
  -1,301
  -1,359
  -1,421
  -1,486
  -1,555
  -1,627
  -1,703
  -1,784
  -1,868
  -1,957
  -2,051
  -2,149
  -2,253
Cash from investing activities, $m
  -628
  -961
  -1,011
  -1,064
  -1,119
  -1,176
  -1,235
  -1,298
  -1,363
  -1,430
  -1,501
  -1,575
  -1,653
  -1,735
  -1,819
  -1,910
  -2,004
  -2,102
  -2,206
  -2,314
  -2,429
  -2,548
  -2,675
  -2,807
  -2,946
  -3,092
  -3,245
  -3,406
  -3,576
  -3,753
  -3,940
Free cash flow, $m
  285
  -77
  -63
  -48
  -33
  -17
  0
  17
  34
  52
  71
  89
  108
  127
  147
  167
  187
  208
  229
  250
  272
  295
  318
  342
  366
  391
  417
  444
  471
  500
  529
Issuance/(repayment) of debt, $m
  73
  377
  393
  409
  425
  441
  459
  477
  496
  516
  537
  559
  582
  607
  633
  660
  689
  719
  751
  785
  821
  858
  898
  940
  984
  1,030
  1,079
  1,130
  1,184
  1,241
  1,301
Issuance/(repurchase) of shares, $m
  -185
  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  
  -108
  377
  393
  409
  425
  441
  459
  477
  496
  516
  537
  559
  582
  607
  633
  660
  689
  719
  751
  785
  821
  858
  898
  940
  984
  1,030
  1,079
  1,130
  1,184
  1,241
  1,301
Total cash flow (excl. dividends), $m
  177
  300
  331
  361
  392
  425
  459
  494
  530
  568
  607
  648
  690
  734
  779
  827
  876
  927
  980
  1,035
  1,093
  1,153
  1,216
  1,281
  1,350
  1,421
  1,496
  1,574
  1,655
  1,741
  1,830
Retained Cash Flow (-), $m
  -176
  -338
  -353
  -367
  -381
  -396
  -412
  -428
  -445
  -463
  -482
  -502
  -522
  -544
  -568
  -592
  -618
  -645
  -674
  -705
  -737
  -770
  -806
  -843
  -883
  -924
  -968
  -1,014
  -1,063
  -1,114
  -1,168
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
 
  -39
  -22
  -6
  11
  29
  47
  66
  85
  105
  126
  146
  168
  189
  212
  234
  258
  281
  306
  331
  356
  383
  410
  438
  467
  497
  528
  560
  593
  627
  663
Discount rate, %
 
  5.70
  5.99
  6.28
  6.60
  6.93
  7.27
  7.64
  8.02
  8.42
  8.84
  9.28
  9.75
  10.24
  10.75
  11.29
  11.85
  12.44
  13.06
  13.72
  14.40
  15.12
  15.88
  16.67
  17.51
  18.38
  19.30
  20.27
  21.28
  22.34
  23.46
PV of cash for distribution, $m
 
  -37
  -20
  -5
  9
  21
  31
  39
  46
  51
  54
  55
  55
  53
  51
  47
  43
  38
  34
  29
  24
  20
  16
  13
  10
  7
  5
  4
  3
  2
  1
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

Kansas City Southern, through its subsidiaries, provides freight rail transportation services. The company operates north/south rail route between Kansas City, Missouri, and various ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas. It also operates direct rail passageway between Mexico City and Laredo, Texas serving Mexico’s industrial cities and three of its seaports; and owns a 157-mile rail line extending from Laredo, Texas to the port city of Corpus Christi, Texas. In addition, the company owns the northern half of the rail bridge at Laredo, Texas. Its coordinated rail network includes approximately 6,600 route miles extending from the Midwest and Southeast portions of the United States south into Mexico and connects with other Class I railroads. The company serves the chemical and petroleum, industrial and consumer products, agriculture and minerals, energy, intermodal, and automotive markets. Kansas City Southern was founded in 1887 and is headquartered in Kansas City, Missouri.

FINANCIAL RATIOS  of  Kansas City Southern (KSU)

Valuation Ratios
P/E Ratio 24
Price to Sales 4.9
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow 12.6
Price to Free Cash Flow 35.6
Growth Rates
Sales Growth Rate -3.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -29%
Cap. Spend. - 3 Yr. Gr. Rate -6%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 55.6%
Total Debt to Equity 60.6%
Interest Coverage 9
Management Effectiveness
Return On Assets 6.3%
Ret/ On Assets - 3 Yr. Avg. 8.9%
Return On Total Capital 7.4%
Ret/ On T. Cap. - 3 Yr. Avg. 10.6%
Return On Equity 11.9%
Return On Equity - 3 Yr. Avg. 17.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 65.3%
Gross Margin - 3 Yr. Avg. 63.4%
EBITDA Margin 45.1%
EBITDA Margin - 3 Yr. Avg. 42.8%
Operating Margin 35%
Oper. Margin - 3 Yr. Avg. 33%
Pre-Tax Margin 28.4%
Pre-Tax Margin - 3 Yr. Avg. 28%
Net Profit Margin 20.5%
Net Profit Margin - 3 Yr. Avg. 20%
Effective Tax Rate 27.6%
Eff/ Tax Rate - 3 Yr. Avg. 28.3%
Payout Ratio 29.9%

KSU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KSU stock intrinsic value calculation we used $2334 million for the last fiscal year's total revenue generated by Kansas City Southern. The default revenue input number comes from 2016 income statement of Kansas City Southern. 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 KSU stock valuation model: a) initial revenue growth rate of 8.3% 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 5.7%, whose default value for KSU is calculated based on our internal credit rating of Kansas City Southern, 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 Kansas City Southern.
    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 KSU stock the variable cost ratio is equal to 67.1%.

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 KSU 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 Kansas City Southern.

Corporate tax rate of 27% is the nominal tax rate for Kansas City Southern. 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 KSU 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 KSU are equal to 338%.

Life of production assets of 25.9 years is the average useful life of capital assets used in Kansas City Southern 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 KSU is equal to -2.6%. 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 - $4090 million for Kansas City Southern - 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 106.882 million for Kansas City Southern 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 Kansas City Southern at the current share price and the inputted number of shares is $11.5 billion.

RELATED COMPANIES Price Int.Val. Rating
UNP Union Pacific 105.85 58.92  sell
GWR Genesee&Wyomin 67.22 37.34  sell
CSX CSX 50.38 15.09  str.sell
NSC Norfolk Southe 120.43 30.06  str.sell
CNI Canadian Natio 80.37 27.16  str.sell
CP Canadian Pacif 154.09 55.02  str.sell

COMPANY NEWS

▶ This Railroad Wants to Give You Part of $800 Million   [Aug-16-17 10:41AM  TheStreet.com]
▶ Genesee & Wyomings European Revenues in 2Q17   [08:08AM  Market Realist]
▶ Kansas City Southern tops Street 2Q forecasts   [Jul-21-17 08:55PM  Associated Press]
▶ CSX Rolls Past Q2 Forecasts But Hints At More Cautious Payouts   [Jul-18-17 05:05PM  Investor's Business Daily]
▶ Inside Kansas City Southerns Trailer Decline Last Week   [Jul-17-17 10:42AM  Market Realist]
▶ Diving into Kansas City Southerns Week 25 Intermodal Data   [Jul-06-17 09:07AM  Market Realist]
▶ Transport Breakout Bodes Well for Summer Market   [Jun-30-17 10:36AM  Investopedia]
▶ Kansas City Southerns Coal Fall Lowered Its Volume Growth   [Jun-26-17 05:05PM  Market Realist]
▶ Kansas City Southern: Its Intermodal Volumes in Week 23   [Jun-22-17 07:36AM  Market Realist]
▶ 5 Companies Reach 52-Week Highs   [01:14PM  GuruFocus.com]
▶ US Freight Rail Traffic on the Right Track in Week 23   [Jun-20-17 07:37AM  Market Realist]
▶ Fast Money final trades: KSU, SNAP, and more   [Jun-08-17 05:59PM  CNBC Videos]
▶ One of Canadas largest banks will soon plant a flag in KC   [03:00PM  American City Business Journals]
▶ "Fast Money" final trades: FSLR, FDX, and more   [Jun-07-17 05:59PM  CNBC Videos]
▶ Railroads Are Running Strong   [May-26-17 01:42PM  TheStreet.com]
▶ How GWRs North American Carloads Trended in April 2017   [May-25-17 10:36AM  Market Realist]
▶ What Commodities Led Kansas City Southerns Rise in Week 19?   [May-24-17 10:37AM  Market Realist]
▶ Canadian US Freight Rail Traffic Rose in Week 19   [May-23-17 04:10PM  Market Realist]
▶ Kansas City Southern: A Look at Its Intermodal Traffic   [May-10-17 07:36AM  Market Realist]
▶ What Boosted Kansas City Southerns Carloads in Week 17?   [May-09-17 07:38AM  Market Realist]
▶ Growth in US Freight Rail Traffic in Week 17   [May-08-17 03:35PM  Market Realist]
▶ Trump Tweets Nafta's Negotiable: Peso, Cemex & KSU Rise   [Apr-27-17 12:37PM  Barrons.com]
▶ NAFTA withdrawal: Impact on autos   [Apr-26-17 12:21PM  CNBC Videos]
Stock chart of KSU Financial statements of KSU
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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