Intrinsic value of L Brands - LB

Previous Close

$40.54

  Intrinsic Value

$21.21

stock screener

  Rating & Target

sell

-48%

  Value-price divergence*

+12%

Previous close

$40.54

 
Intrinsic value

$21.21

 
Up/down potential

-48%

 
Rating

sell

 
Value-price divergence*

+12%

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

We calculate the intrinsic value of LB 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 2017), $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 11.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.46
  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
  12,574
  12,825
  13,120
  13,458
  13,836
  14,256
  14,716
  15,217
  15,760
  16,344
  16,971
  17,642
  18,358
  19,121
  19,931
  20,791
  21,702
  22,666
  23,686
  24,764
  25,902
  27,102
  28,369
  29,703
  31,109
  32,590
  34,150
  35,791
  37,518
  39,335
  41,246
Variable operating expenses, $m
 
  10,514
  10,753
  11,026
  11,332
  11,672
  12,044
  12,450
  12,889
  13,362
  13,869
  14,278
  14,857
  15,474
  16,130
  16,826
  17,563
  18,343
  19,169
  20,041
  20,962
  21,933
  22,958
  24,038
  25,176
  26,375
  27,637
  28,965
  30,363
  31,833
  33,380
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
  10,571
  10,514
  10,753
  11,026
  11,332
  11,672
  12,044
  12,450
  12,889
  13,362
  13,869
  14,278
  14,857
  15,474
  16,130
  16,826
  17,563
  18,343
  19,169
  20,041
  20,962
  21,933
  22,958
  24,038
  25,176
  26,375
  27,637
  28,965
  30,363
  31,833
  33,380
Operating income, $m
  2,003
  2,311
  2,368
  2,432
  2,504
  2,584
  2,672
  2,767
  2,871
  2,982
  3,102
  3,365
  3,501
  3,647
  3,801
  3,965
  4,139
  4,323
  4,517
  4,723
  4,940
  5,169
  5,410
  5,665
  5,933
  6,216
  6,513
  6,826
  7,155
  7,502
  7,867
EBITDA, $m
  2,521
  2,808
  2,872
  2,946
  3,029
  3,121
  3,222
  3,331
  3,450
  3,578
  3,715
  3,862
  4,019
  4,186
  4,363
  4,551
  4,751
  4,962
  5,185
  5,421
  5,670
  5,933
  6,210
  6,502
  6,810
  7,134
  7,476
  7,835
  8,213
  8,611
  9,029
Interest expense (income), $m
  387
  388
  174
  183
  193
  205
  218
  232
  247
  263
  281
  300
  320
  342
  365
  390
  416
  444
  473
  504
  537
  571
  608
  646
  687
  729
  774
  822
  871
  924
  979
Earnings before tax, $m
  1,696
  1,924
  2,193
  2,249
  2,311
  2,379
  2,454
  2,536
  2,624
  2,719
  2,821
  3,065
  3,181
  3,305
  3,436
  3,575
  3,723
  3,879
  4,044
  4,219
  4,403
  4,598
  4,803
  5,019
  5,247
  5,486
  5,739
  6,004
  6,284
  6,578
  6,887
Tax expense, $m
  538
  519
  592
  607
  624
  642
  663
  685
  708
  734
  762
  827
  859
  892
  928
  965
  1,005
  1,047
  1,092
  1,139
  1,189
  1,241
  1,297
  1,355
  1,417
  1,481
  1,549
  1,621
  1,697
  1,776
  1,860
Net income, $m
  1,158
  1,404
  1,601
  1,642
  1,687
  1,737
  1,792
  1,851
  1,916
  1,985
  2,059
  2,237
  2,322
  2,412
  2,508
  2,610
  2,718
  2,832
  2,952
  3,080
  3,214
  3,356
  3,506
  3,664
  3,830
  4,005
  4,189
  4,383
  4,587
  4,802
  5,028

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,934
  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
  8,170
  6,362
  6,508
  6,675
  6,863
  7,071
  7,300
  7,548
  7,817
  8,107
  8,418
  8,751
  9,106
  9,485
  9,886
  10,313
  10,765
  11,243
  11,749
  12,284
  12,848
  13,444
  14,072
  14,734
  15,431
  16,166
  16,939
  17,753
  18,610
  19,511
  20,459
Adjusted assets (=assets-cash), $m
  6,236
  6,362
  6,508
  6,675
  6,863
  7,071
  7,300
  7,548
  7,817
  8,107
  8,418
  8,751
  9,106
  9,485
  9,886
  10,313
  10,765
  11,243
  11,749
  12,284
  12,848
  13,444
  14,072
  14,734
  15,431
  16,166
  16,939
  17,753
  18,610
  19,511
  20,459
Revenue / Adjusted assets
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
  2.016
Average production assets, $m
  2,947
  3,001
  3,070
  3,149
  3,238
  3,336
  3,444
  3,561
  3,688
  3,825
  3,971
  4,128
  4,296
  4,474
  4,664
  4,865
  5,078
  5,304
  5,543
  5,795
  6,061
  6,342
  6,638
  6,951
  7,280
  7,626
  7,991
  8,375
  8,779
  9,204
  9,652
Working capital, $m
  1,451
  -462
  -472
  -484
  -498
  -513
  -530
  -548
  -567
  -588
  -611
  -635
  -661
  -688
  -718
  -748
  -781
  -816
  -853
  -892
  -932
  -976
  -1,021
  -1,069
  -1,120
  -1,173
  -1,229
  -1,288
  -1,351
  -1,416
  -1,485
Total debt, $m
  5,736
  2,563
  2,694
  2,845
  3,014
  3,201
  3,407
  3,630
  3,873
  4,133
  4,413
  4,713
  5,033
  5,373
  5,735
  6,119
  6,525
  6,956
  7,411
  7,892
  8,400
  8,936
  9,502
  10,097
  10,725
  11,386
  12,082
  12,815
  13,586
  14,397
  15,251
Total liabilities, $m
  8,899
  5,726
  5,857
  6,008
  6,177
  6,364
  6,570
  6,793
  7,036
  7,296
  7,576
  7,876
  8,196
  8,536
  8,898
  9,282
  9,688
  10,119
  10,574
  11,055
  11,563
  12,099
  12,665
  13,260
  13,888
  14,549
  15,245
  15,978
  16,749
  17,560
  18,414
Total equity, $m
  -729
  636
  651
  668
  686
  707
  730
  755
  782
  811
  842
  875
  911
  948
  989
  1,031
  1,076
  1,124
  1,175
  1,228
  1,285
  1,344
  1,407
  1,473
  1,543
  1,617
  1,694
  1,775
  1,861
  1,951
  2,046
Total liabilities and equity, $m
  8,170
  6,362
  6,508
  6,676
  6,863
  7,071
  7,300
  7,548
  7,818
  8,107
  8,418
  8,751
  9,107
  9,484
  9,887
  10,313
  10,764
  11,243
  11,749
  12,283
  12,848
  13,443
  14,072
  14,733
  15,431
  16,166
  16,939
  17,753
  18,610
  19,511
  20,460
Debt-to-equity ratio
  -7.868
  4.030
  4.140
  4.260
  4.390
  4.530
  4.670
  4.810
  4.950
  5.100
  5.240
  5.390
  5.530
  5.670
  5.800
  5.930
  6.060
  6.190
  6.310
  6.430
  6.540
  6.650
  6.750
  6.850
  6.950
  7.040
  7.130
  7.220
  7.300
  7.380
  7.450
Adjusted equity ratio
  -0.427
  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
  1,158
  1,404
  1,601
  1,642
  1,687
  1,737
  1,792
  1,851
  1,916
  1,985
  2,059
  2,237
  2,322
  2,412
  2,508
  2,610
  2,718
  2,832
  2,952
  3,080
  3,214
  3,356
  3,506
  3,664
  3,830
  4,005
  4,189
  4,383
  4,587
  4,802
  5,028
Depreciation, amort., depletion, $m
  518
  496
  505
  514
  525
  537
  550
  564
  579
  596
  613
  497
  518
  539
  562
  586
  612
  639
  668
  698
  730
  764
  800
  837
  877
  919
  963
  1,009
  1,058
  1,109
  1,163
Funds from operations, $m
  2,066
  1,901
  2,106
  2,156
  2,212
  2,273
  2,341
  2,415
  2,495
  2,580
  2,673
  2,735
  2,840
  2,951
  3,070
  3,196
  3,330
  3,471
  3,620
  3,778
  3,945
  4,120
  4,306
  4,501
  4,707
  4,924
  5,152
  5,392
  5,645
  5,911
  6,191
Change in working capital, $m
  176
  -9
  -11
  -12
  -14
  -15
  -17
  -18
  -20
  -21
  -23
  -24
  -26
  -27
  -29
  -31
  -33
  -35
  -37
  -39
  -41
  -43
  -46
  -48
  -51
  -53
  -56
  -59
  -62
  -65
  -69
Cash from operations, $m
  1,890
  1,910
  2,116
  2,168
  2,225
  2,289
  2,358
  2,433
  2,514
  2,602
  2,695
  2,759
  2,865
  2,979
  3,099
  3,227
  3,362
  3,506
  3,657
  3,817
  3,986
  4,164
  4,351
  4,549
  4,758
  4,977
  5,208
  5,451
  5,707
  5,976
  6,260
Maintenance CAPEX, $m
  0
  -355
  -362
  -370
  -379
  -390
  -402
  -415
  -429
  -444
  -461
  -478
  -497
  -518
  -539
  -562
  -586
  -612
  -639
  -668
  -698
  -730
  -764
  -800
  -837
  -877
  -919
  -963
  -1,009
  -1,058
  -1,109
New CAPEX, $m
  -990
  -55
  -69
  -79
  -89
  -98
  -108
  -117
  -127
  -137
  -147
  -157
  -168
  -178
  -190
  -201
  -213
  -226
  -239
  -252
  -266
  -281
  -296
  -312
  -329
  -347
  -365
  -384
  -404
  -425
  -447
Cash from investing activities, $m
  -833
  -410
  -431
  -449
  -468
  -488
  -510
  -532
  -556
  -581
  -608
  -635
  -665
  -696
  -729
  -763
  -799
  -838
  -878
  -920
  -964
  -1,011
  -1,060
  -1,112
  -1,166
  -1,224
  -1,284
  -1,347
  -1,413
  -1,483
  -1,556
Free cash flow, $m
  1,057
  1,500
  1,686
  1,719
  1,757
  1,800
  1,848
  1,901
  1,958
  2,020
  2,088
  2,123
  2,200
  2,283
  2,371
  2,464
  2,563
  2,668
  2,779
  2,897
  3,021
  3,152
  3,291
  3,437
  3,591
  3,754
  3,925
  4,105
  4,294
  4,494
  4,703
Issuance/(repayment) of debt, $m
  -21
  -3,137
  132
  151
  169
  187
  205
  224
  242
  261
  280
  300
  320
  340
  362
  384
  407
  431
  455
  481
  508
  536
  565
  596
  628
  661
  696
  733
  771
  811
  853
Issuance/(repurchase) of shares, $m
  -415
  1,859
  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  
  -397
  -1,278
  132
  151
  169
  187
  205
  224
  242
  261
  280
  300
  320
  340
  362
  384
  407
  431
  455
  481
  508
  536
  565
  596
  628
  661
  696
  733
  771
  811
  853
Total cash flow (excl. dividends), $m
  654
  222
  1,817
  1,870
  1,926
  1,988
  2,054
  2,125
  2,200
  2,281
  2,368
  2,423
  2,520
  2,623
  2,732
  2,848
  2,970
  3,099
  3,235
  3,378
  3,529
  3,688
  3,856
  4,033
  4,219
  4,415
  4,621
  4,837
  5,065
  5,305
  5,557
Retained Cash Flow (-), $m
  470
  -3,263
  -15
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -36
  -38
  -40
  -43
  -45
  -48
  -51
  -53
  -56
  -60
  -63
  -66
  -70
  -73
  -77
  -81
  -86
  -90
  -95
Prev. year cash balance distribution, $m
 
  1,898
  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
 
  -1,144
  1,803
  1,853
  1,907
  1,967
  2,031
  2,100
  2,173
  2,252
  2,336
  2,390
  2,485
  2,585
  2,692
  2,805
  2,925
  3,051
  3,184
  3,325
  3,473
  3,629
  3,793
  3,967
  4,149
  4,341
  4,543
  4,756
  4,979
  5,215
  5,462
Discount rate, %
 
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
 
  -1,058
  1,531
  1,433
  1,333
  1,230
  1,125
  1,021
  917
  814
  715
  611
  524
  442
  368
  301
  242
  192
  149
  113
  84
  61
  43
  30
  20
  13
  8
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

L Brands, Inc. operates specialty retail business. The Company is focused on women's intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners. It operates in the retail brands, which include Victoria's Secret, PINK, Bath & Body Works and La Senza. La Senza is a specialty retailer of women's intimate apparel. It sells its La Senza products at over 120 La Senza stores in Canada. Henri Bendel sells handbags, jewelry and other accessory products through New York and 28 other stores. Mast Global is a merchandise sourcing and production function serving the Company and its international partners.

FINANCIAL RATIOS  of  L Brands (LB)

Valuation Ratios
P/E Ratio 10
Price to Sales 0.9
Price to Book -15.9
Price to Tangible Book
Price to Cash Flow 6.1
Price to Free Cash Flow 12.9
Growth Rates
Sales Growth Rate 3.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 36.2%
Cap. Spend. - 3 Yr. Gr. Rate 7.5%
Financial Strength
Quick Ratio 54
Current Ratio 0.1
LT Debt to Equity -781.9%
Total Debt to Equity -786.8%
Interest Coverage 5
Management Effectiveness
Return On Assets 17.1%
Ret/ On Assets - 3 Yr. Avg. 17.4%
Return On Total Capital 22.1%
Ret/ On T. Cap. - 3 Yr. Avg. 23%
Return On Equity -234.4%
Return On Equity - 3 Yr. Avg. -622.1%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 40.8%
Gross Margin - 3 Yr. Avg. 41.9%
EBITDA Margin 20.7%
EBITDA Margin - 3 Yr. Avg. 21.2%
Operating Margin 15.9%
Oper. Margin - 3 Yr. Avg. 17%
Pre-Tax Margin 13.5%
Pre-Tax Margin - 3 Yr. Avg. 14.6%
Net Profit Margin 9.2%
Net Profit Margin - 3 Yr. Avg. 9.5%
Effective Tax Rate 31.7%
Eff/ Tax Rate - 3 Yr. Avg. 34.4%
Payout Ratio 109.5%

LB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LB stock intrinsic value calculation we used $12574 million for the last fiscal year's total revenue generated by L Brands. The default revenue input number comes from 2017 income statement of L Brands. 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 LB 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 8.1%, whose default value for LB is calculated based on our internal credit rating of L Brands, 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 L Brands.
    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 LB stock the variable cost ratio is equal to 82%.

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 LB 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 6.8% for L Brands.

Corporate tax rate of 27% is the nominal tax rate for L Brands. 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 LB 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 LB are equal to 23.4%.

Life of production assets of 8.3 years is the average useful life of capital assets used in L Brands 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 LB is equal to -3.6%. 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 - $-729 million for L Brands - 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 289.387 million for L Brands 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 L Brands at the current share price and the inputted number of shares is $11.7 billion.

RELATED COMPANIES Price Int.Val. Rating
CHS Chico's Fa 8.31 0.93  str.sell
NWY New York 1.83 0.30  str.sell
CBK Christopher&Ba 1.49 0.44  str.sell
ASNA Ascena Retail 2.23 4.58  str.buy
JILL J.Jill 10.83 32.79  str.buy

COMPANY NEWS

▶ Amazon Can't Even Be Stopped By a Massive Hurricane   [Sep-11-17 04:08PM  TheStreet.com]
▶ Heres Why L Brands Dividend Yield Is Rising   [12:32PM  Market Realist]
▶ Why L Brands, Inc. Stock Plunged 21.9% in August   [Sep-07-17 09:00AM  Motley Fool]
▶ L Brands to Present at the Goldman Sachs Conference   [Sep-05-17 02:00PM  GlobeNewswire]
▶ L Brands Reports August 2017 Sales   [07:15AM  GlobeNewswire]
▶ Victoria's Secret Angels flying east Far East   [Aug-29-17 05:35PM  American City Business Journals]
▶ L Brands: The Next, Um, Shoe to Drop?   [03:59PM  Barrons.com]
▶ Bear of the Day: L Brands (LB)   [05:19AM  Zacks]
▶ Does Victoria's Secret Have a Bra Problem?   [Aug-20-17 03:40PM  TheStreet.com]
▶ Victorias Secret has a bra problem   [Aug-19-17 04:21PM  MarketWatch]
▶ [$$] Shopping the Retail Bargain Bin   [01:45AM  Barrons.com]
▶ Victoria's Secret Needs a Miracle   [Aug-18-17 02:00PM  Bloomberg]
▶ Company News For August 18, 2017   [10:40AM  Zacks]
▶ L Brands Is A 'Show Me' Story Now   [10:16AM  Benzinga]
▶ What Happened in the Stock Market Today   [05:08PM  Motley Fool]
▶ Wal-Mart Stores, L Brands and Cisco Systems skid   [04:30PM  Associated Press]
▶ Sales decline continues at Victoria's Secret   [02:40PM  American City Business Journals]
▶ Why L Brands, Inc. Stock Dove Today   [02:27PM  Motley Fool]
▶ 4 Reasons To Avoid L Brands   [10:34AM  Barrons.com]
▶ Why L Brands Earnings Beat Is Not Enough   [10:20AM  24/7 Wall St.]
▶ L Brands tops 2Q profit forecasts   [Aug-16-17 09:40PM  Associated Press]
▶ L Brands Reports Second Quarter Earnings   [04:30PM  GlobeNewswire]
▶ L Brands Cash Dividend - Correction of Record Date   [Aug-11-17 10:00AM  GlobeNewswire]
▶ 20 Undervalued, Sustainable Stocks   [Aug-09-17 06:00AM  Morningstar]
▶ L Brands Declares Cash Dividend   [10:00AM  GlobeNewswire]
▶ Why L Brands, Inc. Lost 14% in July   [Aug-03-17 07:00PM  Motley Fool]
▶ How to Identify Economic Moats   [Jul-17-17 11:26AM  Market Realist]
▶ The 3 Best Apparel Stocks to Buy in 2017   [Jul-12-17 06:40AM  Motley Fool]
▶ Why L Brands Inc (LB) Stock Can and Will Go MUCH Lower   [Jul-11-17 11:44AM  InvestorPlace]
▶ [$$] Retailers rattled by another Amazon incursion   [Jul-10-17 04:27PM  Financial Times]
▶ Stocks That Fell to 3-Year Lows in the Week of July 7   [Jul-09-17 06:11PM  GuruFocus.com]
▶ The Biggest Loser: L Brands Drops 3%   [Jul-07-17 05:19PM  Barrons.com]
Financial statements of LB
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.