Intrinsic value of LKQ - LKQ

Previous Close

$40.05

  Intrinsic Value

$30.52

stock screener

  Rating & Target

sell

-24%

Previous close

$40.05

 
Intrinsic value

$30.52

 
Up/down potential

-24%

 
Rating

sell

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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.34
  11.70
  11.03
  10.43
  9.88
  9.40
  8.96
  8.56
  8.20
  7.88
  7.60
  7.34
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.91
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
Revenue, $m
  8,584
  9,588
  10,646
  11,756
  12,918
  14,132
  15,397
  16,716
  18,087
  19,513
  20,995
  22,535
  24,136
  25,799
  27,529
  29,327
  31,198
  33,145
  35,173
  37,285
  39,487
  41,783
  44,178
  46,679
  49,290
  52,018
  54,869
  57,850
  60,968
  64,230
  67,644
Variable operating expenses, $m
 
  8,613
  9,529
  10,491
  11,498
  12,549
  13,646
  14,788
  15,976
  17,212
  18,496
  19,525
  20,912
  22,353
  23,851
  25,409
  27,030
  28,717
  30,474
  32,304
  34,212
  36,201
  38,277
  40,443
  42,705
  45,069
  47,539
  50,122
  52,823
  55,650
  58,608
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
  8,613
  9,529
  10,491
  11,498
  12,549
  13,646
  14,788
  15,976
  17,212
  18,496
  19,525
  20,912
  22,353
  23,851
  25,409
  27,030
  28,717
  30,474
  32,304
  34,212
  36,201
  38,277
  40,443
  42,705
  45,069
  47,539
  50,122
  52,823
  55,650
  58,608
Operating income, $m
  745
  975
  1,117
  1,265
  1,420
  1,582
  1,751
  1,928
  2,111
  2,301
  2,499
  3,010
  3,224
  3,447
  3,678
  3,918
  4,168
  4,428
  4,699
  4,981
  5,275
  5,582
  5,902
  6,236
  6,585
  6,949
  7,330
  7,728
  8,145
  8,580
  9,037
EBITDA, $m
  951
  1,350
  1,499
  1,655
  1,819
  1,990
  2,168
  2,353
  2,547
  2,747
  2,956
  3,173
  3,398
  3,632
  3,876
  4,129
  4,392
  4,667
  4,952
  5,250
  5,560
  5,883
  6,220
  6,572
  6,940
  7,324
  7,725
  8,145
  8,584
  9,043
  9,524
Interest expense (income), $m
  86
  115
  134
  155
  177
  200
  223
  248
  274
  301
  329
  357
  388
  419
  451
  485
  520
  557
  595
  635
  676
  719
  764
  811
  860
  911
  964
  1,020
  1,078
  1,139
  1,203
Earnings before tax, $m
  677
  861
  982
  1,110
  1,243
  1,383
  1,528
  1,680
  1,837
  2,001
  2,171
  2,653
  2,837
  3,028
  3,226
  3,433
  3,647
  3,871
  4,104
  4,346
  4,599
  4,863
  5,138
  5,425
  5,725
  6,038
  6,366
  6,708
  7,066
  7,441
  7,833
Tax expense, $m
  220
  232
  265
  300
  336
  373
  413
  453
  496
  540
  586
  716
  766
  817
  871
  927
  985
  1,045
  1,108
  1,173
  1,242
  1,313
  1,387
  1,465
  1,546
  1,630
  1,719
  1,811
  1,908
  2,009
  2,115
Net income, $m
  464
  628
  717
  810
  908
  1,009
  1,116
  1,226
  1,341
  1,460
  1,585
  1,937
  2,071
  2,210
  2,355
  2,506
  2,663
  2,826
  2,996
  3,173
  3,357
  3,550
  3,751
  3,960
  4,179
  4,408
  4,647
  4,897
  5,158
  5,432
  5,718

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
  9,020
  10,015
  11,059
  12,152
  13,294
  14,485
  15,725
  17,015
  18,356
  19,751
  21,200
  22,705
  24,270
  25,897
  27,589
  29,349
  31,181
  33,088
  35,076
  37,147
  39,307
  41,560
  43,912
  46,369
  48,935
  51,617
  54,421
  57,355
  60,423
  63,635
Adjusted assets (=assets-cash), $m
  8,076
  9,020
  10,015
  11,059
  12,152
  13,294
  14,485
  15,725
  17,015
  18,356
  19,751
  21,200
  22,705
  24,270
  25,897
  27,589
  29,349
  31,181
  33,088
  35,076
  37,147
  39,307
  41,560
  43,912
  46,369
  48,935
  51,617
  54,421
  57,355
  60,423
  63,635
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
  1,285
  1,427
  1,575
  1,731
  1,894
  2,063
  2,240
  2,424
  2,615
  2,813
  3,020
  3,234
  3,457
  3,689
  3,930
  4,181
  4,441
  4,713
  4,996
  5,291
  5,599
  5,920
  6,255
  6,605
  6,970
  7,352
  7,752
  8,170
  8,607
  9,064
Working capital, $m
  2,357
  2,455
  2,725
  3,010
  3,307
  3,618
  3,942
  4,279
  4,630
  4,995
  5,375
  5,769
  6,179
  6,605
  7,047
  7,508
  7,987
  8,485
  9,004
  9,545
  10,109
  10,696
  11,310
  11,950
  12,618
  13,317
  14,046
  14,810
  15,608
  16,443
  17,317
Total debt, $m
  3,342
  3,840
  4,431
  5,051
  5,701
  6,379
  7,086
  7,823
  8,589
  9,386
  10,214
  11,075
  11,969
  12,899
  13,865
  14,870
  15,915
  17,003
  18,136
  19,317
  20,547
  21,830
  23,169
  24,566
  26,025
  27,549
  29,143
  30,808
  32,551
  34,374
  36,281
Total liabilities, $m
  4,860
  5,358
  5,949
  6,569
  7,219
  7,897
  8,604
  9,341
  10,107
  10,904
  11,732
  12,593
  13,487
  14,417
  15,383
  16,388
  17,433
  18,521
  19,654
  20,835
  22,065
  23,348
  24,687
  26,084
  27,543
  29,067
  30,661
  32,326
  34,069
  35,892
  37,799
Total equity, $m
  3,443
  3,662
  4,066
  4,490
  4,934
  5,397
  5,881
  6,384
  6,908
  7,453
  8,019
  8,607
  9,218
  9,854
  10,514
  11,201
  11,916
  12,659
  13,434
  14,241
  15,082
  15,959
  16,873
  17,828
  18,826
  19,868
  20,957
  22,095
  23,286
  24,532
  25,836
Total liabilities and equity, $m
  8,303
  9,020
  10,015
  11,059
  12,153
  13,294
  14,485
  15,725
  17,015
  18,357
  19,751
  21,200
  22,705
  24,271
  25,897
  27,589
  29,349
  31,180
  33,088
  35,076
  37,147
  39,307
  41,560
  43,912
  46,369
  48,935
  51,618
  54,421
  57,355
  60,424
  63,635
Debt-to-equity ratio
  0.971
  1.050
  1.090
  1.120
  1.160
  1.180
  1.200
  1.230
  1.240
  1.260
  1.270
  1.290
  1.300
  1.310
  1.320
  1.330
  1.340
  1.340
  1.350
  1.360
  1.360
  1.370
  1.370
  1.380
  1.380
  1.390
  1.390
  1.390
  1.400
  1.400
  1.400
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
  628
  717
  810
  908
  1,009
  1,116
  1,226
  1,341
  1,460
  1,585
  1,937
  2,071
  2,210
  2,355
  2,506
  2,663
  2,826
  2,996
  3,173
  3,357
  3,550
  3,751
  3,960
  4,179
  4,408
  4,647
  4,897
  5,158
  5,432
  5,718
Depreciation, amort., depletion, $m
  206
  375
  382
  390
  399
  407
  416
  426
  436
  446
  457
  162
  174
  186
  198
  211
  225
  239
  253
  269
  284
  301
  318
  336
  355
  375
  395
  417
  439
  463
  487
Funds from operations, $m
  547
  1,003
  1,099
  1,200
  1,306
  1,417
  1,532
  1,652
  1,777
  1,907
  2,041
  2,099
  2,245
  2,396
  2,553
  2,717
  2,887
  3,064
  3,249
  3,441
  3,642
  3,851
  4,069
  4,296
  4,534
  4,783
  5,042
  5,314
  5,598
  5,895
  6,206
Change in working capital, $m
  -88
  257
  271
  284
  297
  311
  324
  337
  351
  365
  379
  394
  410
  426
  443
  460
  479
  498
  519
  541
  564
  588
  613
  640
  668
  698
  730
  763
  798
  835
  874
Cash from operations, $m
  635
  746
  829
  916
  1,009
  1,106
  1,208
  1,315
  1,426
  1,541
  1,662
  1,705
  1,835
  1,970
  2,111
  2,257
  2,408
  2,566
  2,730
  2,901
  3,078
  3,263
  3,456
  3,656
  3,866
  4,084
  4,312
  4,551
  4,800
  5,060
  5,332
Maintenance CAPEX, $m
  0
  -62
  -69
  -77
  -85
  -93
  -102
  -111
  -120
  -130
  -141
  -151
  -162
  -174
  -186
  -198
  -211
  -225
  -239
  -253
  -269
  -284
  -301
  -318
  -336
  -355
  -375
  -395
  -417
  -439
  -463
New CAPEX, $m
  -207
  -131
  -142
  -149
  -156
  -163
  -170
  -177
  -184
  -191
  -199
  -206
  -214
  -223
  -232
  -241
  -251
  -261
  -272
  -283
  -295
  -308
  -321
  -335
  -350
  -366
  -382
  -399
  -418
  -437
  -458
Cash from investing activities, $m
  -1,710
  -193
  -211
  -226
  -241
  -256
  -272
  -288
  -304
  -321
  -340
  -357
  -376
  -397
  -418
  -439
  -462
  -486
  -511
  -536
  -564
  -592
  -622
  -653
  -686
  -721
  -757
  -794
  -835
  -876
  -921
Free cash flow, $m
  -1,075
  552
  618
  691
  768
  850
  937
  1,027
  1,121
  1,220
  1,323
  1,347
  1,458
  1,573
  1,693
  1,817
  1,946
  2,080
  2,219
  2,364
  2,514
  2,671
  2,834
  3,003
  3,180
  3,364
  3,556
  3,756
  3,965
  4,183
  4,412
Issuance/(repayment) of debt, $m
  1,239
  564
  591
  620
  649
  678
  707
  737
  766
  797
  828
  861
  894
  930
  966
  1,005
  1,045
  1,088
  1,133
  1,180
  1,230
  1,283
  1,339
  1,397
  1,459
  1,524
  1,593
  1,666
  1,742
  1,823
  1,908
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
  564
  591
  620
  649
  678
  707
  737
  766
  797
  828
  861
  894
  930
  966
  1,005
  1,045
  1,088
  1,133
  1,180
  1,230
  1,283
  1,339
  1,397
  1,459
  1,524
  1,593
  1,666
  1,742
  1,823
  1,908
Total cash flow (excl. dividends), $m
  147
  1,116
  1,209
  1,311
  1,418
  1,529
  1,644
  1,764
  1,888
  2,017
  2,151
  2,208
  2,352
  2,503
  2,659
  2,822
  2,992
  3,168
  3,352
  3,544
  3,745
  3,954
  4,172
  4,400
  4,639
  4,888
  5,149
  5,422
  5,707
  6,006
  6,319
Retained Cash Flow (-), $m
  -328
  -380
  -404
  -424
  -444
  -464
  -483
  -503
  -524
  -545
  -566
  -588
  -611
  -635
  -661
  -687
  -715
  -744
  -774
  -807
  -841
  -877
  -915
  -955
  -997
  -1,042
  -1,089
  -1,139
  -1,191
  -1,246
  -1,304
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
 
  897
  805
  887
  974
  1,065
  1,160
  1,260
  1,364
  1,472
  1,585
  1,619
  1,741
  1,868
  1,999
  2,135
  2,277
  2,425
  2,578
  2,738
  2,904
  3,077
  3,257
  3,445
  3,641
  3,846
  4,060
  4,283
  4,516
  4,760
  5,015
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
 
  835
  693
  701
  701
  692
  675
  650
  618
  579
  535
  463
  417
  369
  321
  275
  231
  190
  154
  122
  94
  71
  53
  38
  27
  18
  12
  8
  5
  3
  2
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 (LKQ) is a distributor of vehicle products, including replacement parts, components and systems used in the repair and maintenance of vehicles, as well as specialty vehicle products and accessories, and automotive glass products. The Company's segments include Wholesale-North America; Europe; Specialty, and Self Service. It offers its customers a range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles. It distributes a range of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, recycled collision and mechanical products, refurbished collision products, such as wheels, bumper covers and lights, and re-manufactured engines. It also has operations in North America, Europe and Taiwan. It is a provider of alternative vehicle collision replacement products and alternative vehicle mechanical replacement products.

FINANCIAL RATIOS  of  LKQ (LKQ)

Valuation Ratios
P/E Ratio 26.5
Price to Sales 1.4
Price to Book 3.6
Price to Tangible Book
Price to Cash Flow 19.4
Price to Free Cash Flow 28.8
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 11.7% 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 313.007 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 $12.5 billion.

RELATED COMPANIES Price Int.Val. Rating
GPC Genuine Parts 92.93 89.07  hold
PRTS U.S. Auto Part 2.12 4.05  str.buy
ORLY O'Reilly A 247.36 260.18  hold
DORM Dorman Product 72.41 60.76  hold
CPRT Copart 46.20 41.50  hold

COMPANY NEWS

▶ LKQ Keeps Firing on All Cylinders   [Feb-22-18 10:35AM  Motley Fool]
▶ LKQ Corporation to Host Earnings Call   [08:20AM  ACCESSWIRE]
▶ LKQ misses 4Q profit forecasts   [07:43AM  Associated Press]
▶ 7 Quality Stocks in Gurus' Portfolios   [Jan-24-18 03:22PM  GuruFocus.com]
▶ Top-Rated Stocks: LKQ Sees Composite Rating Climb To 98   [Jan-03-18 03:00AM  Investor's Business Daily]
▶ 5 Companies Reach 52-Week Highs   [Jan-02-18 02:39PM  GuruFocus.com]
▶ LKQ Joins Rank Of Stocks With 95-Plus Composite Rating   [Dec-27-17 03:00AM  Investor's Business Daily]
▶ LKQ Purchase Fills in Strategy Gap   [08:50AM  Morningstar]
▶ M&A News: GGP Rejects Buyout; 3M Sells Unit, LKQ Expands In Europe   [Dec-11-17 04:14PM  Investor's Business Daily]
▶ ETFs with exposure to LKQ Corp. : December 7, 2017   [Dec-07-17 02:16PM  Capital Cube]
▶ ETFs with exposure to LKQ Corp. : November 24, 2017   [Nov-24-17 10:44AM  Capital Cube]
▶ LKQ Corporation to Present at Upcoming Investor Conferences   [Nov-22-17 10:00AM  GlobeNewswire]
▶ Thanksgiving air travel will reach record numbers, how to prepare   [Nov-20-17 10:45AM  Yahoo Finance Video]
▶ What Does LKQ Corporations (LKQ) Share Price Indicate?   [Nov-16-17 02:47PM  Simply Wall St.]
▶ ETFs with exposure to LKQ Corp. : November 13, 2017   [Nov-13-17 12:41PM  Capital Cube]
▶ LKQ Trying To Close In On Key Technical Benchmark   [Nov-01-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to LKQ Corp. : October 30, 2017   [Oct-30-17 12:02PM  Capital Cube]
▶ LKQ Hits the Gas on Sales Gains, Acquisitions   [Oct-26-17 01:15PM  Motley Fool]
▶ LKQ Corporation to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ LKQ beats Street 3Q forecasts   [07:25AM  Associated Press]
▶ Tesla wants to make a huge impact in China   [10:25AM  Yahoo Finance Video]
▶ ETFs with exposure to LKQ Corp. : October 17, 2017   [Oct-17-17 09:49AM  Capital Cube]
▶ ETFs with exposure to LKQ Corp. : October 5, 2017   [Oct-05-17 11:09AM  Capital Cube]
▶ GM and Ford beat sales expectations   [Oct-03-17 10:25AM  Yahoo Finance Video]
▶ Pres Trump set to unveil new tax plan   [Sep-27-17 09:11AM  Yahoo Finance]
▶ Yahoo Finance Live: Market Movers - Sep 27th, 2017   [07:20AM  Yahoo Finance Video]
▶ LKQ Corporation to Present at Upcoming Investor Conferences   [Sep-08-17 09:00AM  GlobeNewswire]
▶ LKQ Corporation Appoints New Chief Financial Officer   [Sep-05-17 09:00AM  GlobeNewswire]
▶ ETFs with exposure to LKQ Corp. : August 28, 2017   [Aug-28-17 05:43PM  Capital Cube]
▶ ETFs with exposure to LKQ Corp. : August 16, 2017   [Aug-16-17 06:03PM  Capital Cube]
▶ LKQ beats Street 2Q forecasts   [Jul-27-17 10:40PM  Associated Press]
▶ North American Growth Gives LKQ a Boost   [12:46PM  Motley Fool]
▶ LKQ Corp. Value Analysis (NASDAQ:LKQ) : July 10, 2017   [Jul-10-17 04:15PM  Capital Cube]
▶ 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]
Financial statements 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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