Intrinsic value of LKQ - LKQ

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$32.27

  Intrinsic Value

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  Value-price divergence*

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$32.27

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

We calculate the intrinsic value of LKQ 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 9.9

 

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, %
  19.34
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  8,584
  8,953
  9,344
  9,759
  10,197
  10,660
  11,149
  11,665
  12,209
  12,782
  13,387
  14,024
  14,694
  15,400
  16,142
  16,923
  17,745
  18,609
  19,518
  20,474
  21,478
  22,534
  23,643
  24,809
  26,034
  27,321
  28,673
  30,094
  31,587
  33,154
  34,801
Variable operating expenses, $m
 
  8,063
  8,402
  8,760
  9,140
  9,541
  9,965
  10,412
  10,883
  11,380
  11,904
  12,150
  12,731
  13,342
  13,986
  14,663
  15,375
  16,123
  16,911
  17,739
  18,609
  19,523
  20,485
  21,495
  22,556
  23,671
  24,843
  26,074
  27,367
  28,725
  30,152
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
  7,839
  8,063
  8,402
  8,760
  9,140
  9,541
  9,965
  10,412
  10,883
  11,380
  11,904
  12,150
  12,731
  13,342
  13,986
  14,663
  15,375
  16,123
  16,911
  17,739
  18,609
  19,523
  20,485
  21,495
  22,556
  23,671
  24,843
  26,074
  27,367
  28,725
  30,152
Operating income, $m
  745
  891
  943
  998
  1,057
  1,119
  1,184
  1,253
  1,325
  1,402
  1,483
  1,873
  1,963
  2,057
  2,156
  2,261
  2,371
  2,486
  2,607
  2,735
  2,869
  3,010
  3,158
  3,314
  3,478
  3,650
  3,830
  4,020
  4,220
  4,429
  4,649
EBITDA, $m
  951
  1,261
  1,316
  1,374
  1,436
  1,501
  1,570
  1,642
  1,719
  1,800
  1,885
  1,974
  2,069
  2,168
  2,273
  2,383
  2,498
  2,620
  2,748
  2,883
  3,024
  3,173
  3,329
  3,493
  3,665
  3,847
  4,037
  4,237
  4,447
  4,668
  4,900
Interest expense (income), $m
  86
  115
  122
  130
  138
  146
  155
  165
  175
  186
  197
  209
  221
  234
  248
  263
  278
  294
  311
  329
  347
  367
  388
  409
  432
  456
  481
  508
  535
  565
  595
Earnings before tax, $m
  677
  776
  821
  869
  919
  972
  1,028
  1,088
  1,150
  1,216
  1,286
  1,665
  1,742
  1,823
  1,908
  1,998
  2,093
  2,192
  2,297
  2,406
  2,522
  2,643
  2,771
  2,905
  3,046
  3,194
  3,349
  3,513
  3,684
  3,864
  4,054
Tax expense, $m
  220
  209
  222
  235
  248
  263
  278
  294
  311
  328
  347
  449
  470
  492
  515
  540
  565
  592
  620
  650
  681
  714
  748
  784
  822
  862
  904
  948
  995
  1,043
  1,095
Net income, $m
  464
  566
  599
  634
  671
  710
  751
  794
  840
  888
  939
  1,215
  1,272
  1,331
  1,393
  1,459
  1,528
  1,600
  1,677
  1,757
  1,841
  1,930
  2,023
  2,121
  2,223
  2,331
  2,445
  2,564
  2,689
  2,821
  2,959

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  227
  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
  8,303
  8,422
  8,791
  9,180
  9,592
  10,028
  10,488
  10,973
  11,485
  12,025
  12,594
  13,192
  13,823
  14,487
  15,185
  15,920
  16,694
  17,507
  18,361
  19,260
  20,205
  21,198
  22,242
  23,338
  24,491
  25,702
  26,974
  28,310
  29,714
  31,189
  32,739
Adjusted assets (=assets-cash), $m
  8,076
  8,422
  8,791
  9,180
  9,592
  10,028
  10,488
  10,973
  11,485
  12,025
  12,594
  13,192
  13,823
  14,487
  15,185
  15,920
  16,694
  17,507
  18,361
  19,260
  20,205
  21,198
  22,242
  23,338
  24,491
  25,702
  26,974
  28,310
  29,714
  31,189
  32,739
Revenue / Adjusted assets
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
  1.063
Average production assets, $m
  1,154
  1,200
  1,252
  1,308
  1,366
  1,428
  1,494
  1,563
  1,636
  1,713
  1,794
  1,879
  1,969
  2,064
  2,163
  2,268
  2,378
  2,494
  2,615
  2,743
  2,878
  3,019
  3,168
  3,324
  3,489
  3,661
  3,842
  4,033
  4,233
  4,443
  4,663
Working capital, $m
  2,357
  2,292
  2,392
  2,498
  2,610
  2,729
  2,854
  2,986
  3,125
  3,272
  3,427
  3,590
  3,762
  3,942
  4,132
  4,332
  4,543
  4,764
  4,997
  5,241
  5,498
  5,769
  6,053
  6,351
  6,665
  6,994
  7,340
  7,704
  8,086
  8,487
  8,909
Total debt, $m
  3,342
  3,485
  3,704
  3,935
  4,180
  4,439
  4,712
  5,000
  5,304
  5,625
  5,963
  6,318
  6,693
  7,087
  7,502
  7,939
  8,398
  8,881
  9,389
  9,923
  10,484
  11,074
  11,694
  12,345
  13,030
  13,749
  14,505
  15,298
  16,132
  17,008
  17,929
Total liabilities, $m
  4,860
  5,003
  5,222
  5,453
  5,698
  5,957
  6,230
  6,518
  6,822
  7,143
  7,481
  7,836
  8,211
  8,605
  9,020
  9,457
  9,916
  10,399
  10,907
  11,441
  12,002
  12,592
  13,212
  13,863
  14,548
  15,267
  16,023
  16,816
  17,650
  18,526
  19,447
Total equity, $m
  3,443
  3,420
  3,569
  3,727
  3,895
  4,071
  4,258
  4,455
  4,663
  4,882
  5,113
  5,356
  5,612
  5,882
  6,165
  6,464
  6,778
  7,108
  7,455
  7,820
  8,203
  8,606
  9,030
  9,475
  9,943
  10,435
  10,951
  11,494
  12,064
  12,663
  13,292
Total liabilities and equity, $m
  8,303
  8,423
  8,791
  9,180
  9,593
  10,028
  10,488
  10,973
  11,485
  12,025
  12,594
  13,192
  13,823
  14,487
  15,185
  15,921
  16,694
  17,507
  18,362
  19,261
  20,205
  21,198
  22,242
  23,338
  24,491
  25,702
  26,974
  28,310
  29,714
  31,189
  32,739
Debt-to-equity ratio
  0.971
  1.020
  1.040
  1.060
  1.070
  1.090
  1.110
  1.120
  1.140
  1.150
  1.170
  1.180
  1.190
  1.200
  1.220
  1.230
  1.240
  1.250
  1.260
  1.270
  1.280
  1.290
  1.290
  1.300
  1.310
  1.320
  1.320
  1.330
  1.340
  1.340
  1.350
Adjusted equity ratio
  0.398
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406
  0.406

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  464
  566
  599
  634
  671
  710
  751
  794
  840
  888
  939
  1,215
  1,272
  1,331
  1,393
  1,459
  1,528
  1,600
  1,677
  1,757
  1,841
  1,930
  2,023
  2,121
  2,223
  2,331
  2,445
  2,564
  2,689
  2,821
  2,959
Depreciation, amort., depletion, $m
  206
  370
  373
  376
  379
  382
  386
  390
  393
  398
  402
  101
  106
  111
  116
  122
  128
  134
  141
  147
  155
  162
  170
  179
  188
  197
  207
  217
  228
  239
  251
Funds from operations, $m
  547
  936
  972
  1,010
  1,050
  1,092
  1,137
  1,184
  1,233
  1,286
  1,341
  1,316
  1,377
  1,442
  1,509
  1,581
  1,656
  1,734
  1,817
  1,904
  1,996
  2,092
  2,193
  2,299
  2,411
  2,528
  2,652
  2,781
  2,917
  3,060
  3,210
Change in working capital, $m
  -88
  94
  100
  106
  112
  119
  125
  132
  139
  147
  155
  163
  172
  181
  190
  200
  210
  221
  233
  245
  257
  270
  284
  298
  314
  330
  346
  364
  382
  401
  422
Cash from operations, $m
  635
  1,083
  872
  904
  938
  973
  1,011
  1,052
  1,094
  1,139
  1,186
  1,153
  1,206
  1,261
  1,319
  1,381
  1,445
  1,513
  1,584
  1,660
  1,739
  1,822
  1,909
  2,001
  2,097
  2,199
  2,305
  2,417
  2,535
  2,659
  2,788
Maintenance CAPEX, $m
  0
  -62
  -65
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -92
  -96
  -101
  -106
  -111
  -116
  -122
  -128
  -134
  -141
  -147
  -155
  -162
  -170
  -179
  -188
  -197
  -207
  -217
  -228
  -239
New CAPEX, $m
  -207
  -46
  -52
  -56
  -59
  -62
  -66
  -69
  -73
  -77
  -81
  -85
  -90
  -95
  -100
  -105
  -110
  -116
  -122
  -128
  -135
  -141
  -149
  -156
  -164
  -172
  -181
  -190
  -200
  -210
  -221
Cash from investing activities, $m
  -1,710
  -108
  -117
  -123
  -129
  -135
  -143
  -149
  -157
  -165
  -173
  -181
  -191
  -201
  -211
  -221
  -232
  -244
  -256
  -269
  -282
  -296
  -311
  -326
  -343
  -360
  -378
  -397
  -417
  -438
  -460
Free cash flow, $m
  -1,075
  975
  755
  781
  809
  838
  869
  902
  937
  974
  1,013
  972
  1,015
  1,061
  1,109
  1,160
  1,213
  1,269
  1,329
  1,391
  1,457
  1,526
  1,598
  1,674
  1,754
  1,839
  1,927
  2,020
  2,118
  2,221
  2,329
Issuance/(repayment) of debt, $m
  1,239
  209
  219
  231
  245
  259
  273
  288
  304
  321
  338
  356
  375
  394
  415
  437
  459
  483
  508
  534
  561
  590
  620
  651
  685
  719
  756
  794
  834
  876
  920
Issuance/(repurchase) of shares, $m
  8
  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  
  1,226
  209
  219
  231
  245
  259
  273
  288
  304
  321
  338
  356
  375
  394
  415
  437
  459
  483
  508
  534
  561
  590
  620
  651
  685
  719
  756
  794
  834
  876
  920
Total cash flow (excl. dividends), $m
  147
  1,184
  974
  1,012
  1,053
  1,097
  1,142
  1,190
  1,241
  1,294
  1,351
  1,327
  1,390
  1,455
  1,524
  1,596
  1,672
  1,752
  1,836
  1,925
  2,018
  2,115
  2,218
  2,326
  2,439
  2,558
  2,683
  2,814
  2,952
  3,097
  3,249
Retained Cash Flow (-), $m
  -328
  -138
  -149
  -158
  -167
  -177
  -187
  -197
  -208
  -219
  -231
  -243
  -256
  -270
  -284
  -298
  -314
  -330
  -347
  -365
  -384
  -403
  -424
  -445
  -468
  -492
  -517
  -543
  -570
  -599
  -629
Prev. year cash balance distribution, $m
 
  161
  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
 
  1,208
  824
  854
  886
  920
  956
  993
  1,033
  1,075
  1,120
  1,084
  1,133
  1,185
  1,240
  1,298
  1,358
  1,422
  1,489
  1,560
  1,634
  1,712
  1,794
  1,881
  1,971
  2,066
  2,166
  2,272
  2,382
  2,498
  2,620
Discount rate, %
 
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
 
  1,124
  710
  675
  638
  598
  556
  512
  468
  423
  378
  310
  271
  234
  199
  167
  138
  112
  89
  69
  53
  40
  29
  21
  14
  10
  6
  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

LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, lights, and automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines, transmissions, door assemblies, sheet metal products, lights, and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries. It also operates self service retail operations under the LKQ Pick Your Part name. In addition, the company distributes recreational vehicle appliances and air conditioners, towing hitches, truck bed covers, vehicle protection products, cargo management products, wheels, tires, and suspension products. It primarily serves collision and mechanical repair shops, new and used car dealerships, as well as retail customers. The company was founded in 1998 and is headquartered in Chicago, Illinois.

FINANCIAL RATIOS  of  LKQ (LKQ)

Valuation Ratios
P/E Ratio 21.4
Price to Sales 1.2
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 15.6
Price to Free Cash Flow 23.2
Growth Rates
Sales Growth Rate 19.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 21.8%
Cap. Spend. - 3 Yr. Gr. Rate 18.1%
Financial Strength
Quick Ratio 3
Current Ratio 0.4
LT Debt to Equity 95.1%
Total Debt to Equity 97.1%
Interest Coverage 9
Management Effectiveness
Return On Assets 7.5%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 8.1%
Ret/ On T. Cap. - 3 Yr. Avg. 8.8%
Return On Equity 14.2%
Return On Equity - 3 Yr. Avg. 14.6%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 39%
Gross Margin - 3 Yr. Avg. 39.3%
EBITDA Margin 11.3%
EBITDA Margin - 3 Yr. Avg. 11.4%
Operating Margin 8.7%
Oper. Margin - 3 Yr. Avg. 9.4%
Pre-Tax Margin 7.9%
Pre-Tax Margin - 3 Yr. Avg. 8.5%
Net Profit Margin 5.4%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 32.5%
Eff/ Tax Rate - 3 Yr. Avg. 33.7%
Payout Ratio 0%

LKQ stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LKQ stock intrinsic value calculation we used $8584 million for the last fiscal year's total revenue generated by LKQ. The default revenue input number comes from 2016 income statement of LKQ. 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 LKQ stock valuation model: a) initial revenue growth rate of 4.3% 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 7.4%, whose default value for LKQ is calculated based on our internal credit rating of LKQ, 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 LKQ.
    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 LKQ stock the variable cost ratio is equal to 90.2%.

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 LKQ 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 LKQ.

Corporate tax rate of 27% is the nominal tax rate for LKQ. 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 LKQ 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 LKQ are equal to 13.4%.

Life of production assets of 18.6 years is the average useful life of capital assets used in LKQ 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 LKQ is equal to 25.6%. 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 - $3443 million for LKQ - 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 307.502 million for LKQ 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 LKQ at the current share price and the inputted number of shares is $9.9 billion.


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COMPANY NEWS

▶ Growing Book Values for 7 Cheap Stocks   [Jun-20-17 04:02PM  GuruFocus.com]
▶ ETFs with exposure to LKQ Corp. : June 14, 2017   [Jun-14-17 01:40PM  Capital Cube]
▶ ETFs with exposure to LKQ Corp. : June 2, 2017   [Jun-02-17 02:16PM  Capital Cube]
▶ LKQ Corporation Leadership Transition Becomes Effective   [Jun-01-17 08:30AM  GlobeNewswire]
▶ Car Auction Stock In Double Bottom Pattern With Earnings Due   [May-24-17 11:54AM  Investor's Business Daily]
▶ LKQ Corporation to Present at Upcoming Investor Conference   [May-19-17 10:00AM  GlobeNewswire]
▶ ETFs with exposure to LKQ Corp. : May 15, 2017   [May-15-17 04:02PM  Capital Cube]
▶ ETFs with exposure to LKQ Corp. : May 4, 2017   [May-04-17 04:07PM  Capital Cube]
▶ LKQ tops Street 1Q forecasts   [07:24AM  Associated Press]
▶ 8 Undervalued Stocks With Growing Book Values   [Apr-18-17 06:37PM  GuruFocus.com]
▶ ETFs with exposure to LKQ Corp. : April 7, 2017   [Apr-07-17 05:00PM  Capital Cube]
▶ LKQ Corporation Announces Leadership Transition   [Mar-09-17 05:02PM  GlobeNewswire]
▶ ALLDATA Signs Reseller Agreement with Rhiag Group in Italy   [Mar-06-17 04:45PM  GlobeNewswire]
▶ Is LKQ Corporation (LKQ) Right For Your Portfolio?   [Nov-25-16 08:14PM  at Insider Monkey]
▶ LKQ Corporation to Present at Upcoming Investor Conferences   [Nov-21-16 04:15PM  GlobeNewswire]
▶ When Is The PEG Ratio Superior To The P/E Ratio? Part 2   [Nov-04-16 04:02PM  at Insider Monkey]
▶ LKQ Sees Tougher Times Ahead As Growth Slows   [12:55PM  at Motley Fool]
▶ 4 Mid-Cap Stocks to Maximize Your Profits   [Oct-07-16 09:36AM  at TheStreet]
▶ LKQ Corporation Acquires Andrew Page Limited   [07:00AM  GlobeNewswire]
▶ These are the nine most beloved stocks on Wall Street today   [Sep-24-16 08:25AM  at MarketWatch]
Stock chart of LKQ Financial statements of LKQ Annual reports of LKQ
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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