Intrinsic value of LifePoint Health - LPNT

Previous Close

$60.50

  Intrinsic Value

$62.68

stock screener

  Rating & Target

hold

+4%

  Value-price divergence*

+91%

Previous close

$60.50

 
Intrinsic value

$62.68

 
Up/down potential

+4%

 
Rating

hold

 
Value-price divergence*

+91%

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

We calculate the intrinsic value of LPNT 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 2.4

 

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, %
  22.06
  3.10
  3.29
  3.46
  3.61
  3.75
  3.88
  3.99
  4.09
  4.18
  4.26
  4.34
  4.40
  4.46
  4.52
  4.57
  4.61
  4.65
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
Revenue, $m
  6,364
  6,561
  6,777
  7,012
  7,265
  7,538
  7,830
  8,143
  8,476
  8,830
  9,207
  9,606
  10,029
  10,477
  10,950
  11,450
  11,978
  12,534
  13,121
  13,740
  14,392
  15,078
  15,801
  16,561
  17,361
  18,203
  19,088
  20,019
  20,998
  22,027
  23,109
Variable operating expenses, $m
 
  6,182
  6,379
  6,594
  6,826
  7,075
  7,343
  7,629
  7,934
  8,258
  8,603
  8,790
  9,177
  9,587
  10,020
  10,477
  10,960
  11,470
  12,007
  12,573
  13,169
  13,797
  14,459
  15,154
  15,887
  16,657
  17,467
  18,319
  19,215
  20,156
  21,146
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
  6,159
  6,182
  6,379
  6,594
  6,826
  7,075
  7,343
  7,629
  7,934
  8,258
  8,603
  8,790
  9,177
  9,587
  10,020
  10,477
  10,960
  11,470
  12,007
  12,573
  13,169
  13,797
  14,459
  15,154
  15,887
  16,657
  17,467
  18,319
  19,215
  20,156
  21,146
Operating income, $m
  205
  380
  398
  418
  439
  462
  487
  514
  542
  572
  604
  816
  852
  890
  930
  973
  1,017
  1,065
  1,115
  1,167
  1,222
  1,281
  1,342
  1,407
  1,475
  1,546
  1,621
  1,700
  1,784
  1,871
  1,963
EBITDA, $m
  560
  785
  811
  839
  869
  902
  937
  974
  1,014
  1,057
  1,102
  1,150
  1,200
  1,254
  1,310
  1,370
  1,433
  1,500
  1,570
  1,644
  1,722
  1,804
  1,891
  1,982
  2,078
  2,178
  2,284
  2,396
  2,513
  2,636
  2,765
Interest expense (income), $m
  139
  145
  151
  158
  166
  174
  183
  192
  202
  213
  224
  237
  250
  263
  278
  293
  309
  326
  344
  363
  383
  404
  427
  450
  475
  500
  528
  556
  586
  618
  651
Earnings before tax, $m
  205
  235
  247
  260
  274
  289
  305
  322
  340
  359
  380
  579
  602
  627
  652
  679
  708
  738
  770
  804
  839
  876
  915
  957
  1,000
  1,046
  1,094
  1,144
  1,197
  1,253
  1,311
Tax expense, $m
  73
  63
  67
  70
  74
  78
  82
  87
  92
  97
  103
  156
  163
  169
  176
  183
  191
  199
  208
  217
  227
  237
  247
  258
  270
  282
  295
  309
  323
  338
  354
Net income, $m
  122
  171
  180
  190
  200
  211
  222
  235
  248
  262
  277
  423
  440
  457
  476
  496
  517
  539
  562
  587
  613
  640
  668
  698
  730
  763
  798
  835
  874
  915
  957

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  96
  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
  6,319
  6,414
  6,625
  6,854
  7,102
  7,368
  7,654
  7,960
  8,285
  8,632
  9,000
  9,390
  9,804
  10,241
  10,704
  11,192
  11,708
  12,253
  12,826
  13,431
  14,068
  14,739
  15,445
  16,189
  16,971
  17,794
  18,659
  19,569
  20,526
  21,532
  22,589
Adjusted assets (=assets-cash), $m
  6,223
  6,414
  6,625
  6,854
  7,102
  7,368
  7,654
  7,960
  8,285
  8,632
  9,000
  9,390
  9,804
  10,241
  10,704
  11,192
  11,708
  12,253
  12,826
  13,431
  14,068
  14,739
  15,445
  16,189
  16,971
  17,794
  18,659
  19,569
  20,526
  21,532
  22,589
Revenue / Adjusted assets
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
  1.023
Average production assets, $m
  2,850
  2,939
  3,036
  3,141
  3,255
  3,377
  3,508
  3,648
  3,797
  3,956
  4,125
  4,304
  4,493
  4,694
  4,906
  5,130
  5,366
  5,615
  5,878
  6,156
  6,447
  6,755
  7,079
  7,419
  7,778
  8,155
  8,552
  8,969
  9,407
  9,868
  10,353
Working capital, $m
  527
  466
  481
  498
  516
  535
  556
  578
  602
  627
  654
  682
  712
  744
  777
  813
  850
  890
  932
  976
  1,022
  1,071
  1,122
  1,176
  1,233
  1,292
  1,355
  1,421
  1,491
  1,564
  1,641
Total debt, $m
  2,914
  3,021
  3,161
  3,312
  3,476
  3,653
  3,842
  4,044
  4,260
  4,489
  4,733
  4,991
  5,265
  5,555
  5,861
  6,184
  6,526
  6,886
  7,266
  7,666
  8,088
  8,532
  9,000
  9,492
  10,010
  10,554
  11,127
  11,730
  12,363
  13,029
  13,729
Total liabilities, $m
  4,139
  4,246
  4,386
  4,537
  4,701
  4,878
  5,067
  5,269
  5,485
  5,714
  5,958
  6,216
  6,490
  6,780
  7,086
  7,409
  7,751
  8,111
  8,491
  8,891
  9,313
  9,757
  10,225
  10,717
  11,235
  11,779
  12,352
  12,955
  13,588
  14,254
  14,954
Total equity, $m
  2,180
  2,168
  2,239
  2,317
  2,400
  2,491
  2,587
  2,690
  2,800
  2,918
  3,042
  3,174
  3,314
  3,462
  3,618
  3,783
  3,957
  4,141
  4,335
  4,540
  4,755
  4,982
  5,221
  5,472
  5,736
  6,014
  6,307
  6,614
  6,938
  7,278
  7,635
Total liabilities and equity, $m
  6,319
  6,414
  6,625
  6,854
  7,101
  7,369
  7,654
  7,959
  8,285
  8,632
  9,000
  9,390
  9,804
  10,242
  10,704
  11,192
  11,708
  12,252
  12,826
  13,431
  14,068
  14,739
  15,446
  16,189
  16,971
  17,793
  18,659
  19,569
  20,526
  21,532
  22,589
Debt-to-equity ratio
  1.337
  1.390
  1.410
  1.430
  1.450
  1.470
  1.490
  1.500
  1.520
  1.540
  1.560
  1.570
  1.590
  1.600
  1.620
  1.630
  1.650
  1.660
  1.680
  1.690
  1.700
  1.710
  1.720
  1.730
  1.750
  1.750
  1.760
  1.770
  1.780
  1.790
  1.800
Adjusted equity ratio
  0.335
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338
  0.338

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  122
  171
  180
  190
  200
  211
  222
  235
  248
  262
  277
  423
  440
  457
  476
  496
  517
  539
  562
  587
  613
  640
  668
  698
  730
  763
  798
  835
  874
  915
  957
Depreciation, amort., depletion, $m
  355
  406
  413
  421
  430
  440
  450
  461
  472
  484
  498
  334
  348
  364
  380
  398
  416
  435
  456
  477
  500
  524
  549
  575
  603
  632
  663
  695
  729
  765
  803
Funds from operations, $m
  345
  577
  593
  611
  630
  650
  672
  695
  720
  747
  775
  756
  788
  821
  856
  894
  933
  974
  1,018
  1,064
  1,112
  1,163
  1,217
  1,274
  1,333
  1,395
  1,461
  1,530
  1,603
  1,680
  1,760
Change in working capital, $m
  -90
  14
  15
  17
  18
  19
  21
  22
  24
  25
  27
  28
  30
  32
  34
  35
  37
  40
  42
  44
  46
  49
  51
  54
  57
  60
  63
  66
  69
  73
  77
Cash from operations, $m
  435
  563
  578
  594
  612
  631
  651
  673
  697
  722
  748
  728
  758
  790
  823
  858
  895
  935
  976
  1,020
  1,066
  1,115
  1,166
  1,220
  1,276
  1,336
  1,398
  1,464
  1,534
  1,606
  1,683
Maintenance CAPEX, $m
  0
  -221
  -228
  -235
  -244
  -252
  -262
  -272
  -283
  -294
  -307
  -320
  -334
  -348
  -364
  -380
  -398
  -416
  -435
  -456
  -477
  -500
  -524
  -549
  -575
  -603
  -632
  -663
  -695
  -729
  -765
New CAPEX, $m
  -400
  -89
  -97
  -105
  -114
  -122
  -131
  -140
  -149
  -159
  -169
  -179
  -190
  -201
  -212
  -224
  -236
  -249
  -263
  -277
  -292
  -307
  -324
  -341
  -358
  -377
  -397
  -417
  -439
  -461
  -485
Cash from investing activities, $m
  -521
  -310
  -325
  -340
  -358
  -374
  -393
  -412
  -432
  -453
  -476
  -499
  -524
  -549
  -576
  -604
  -634
  -665
  -698
  -733
  -769
  -807
  -848
  -890
  -933
  -980
  -1,029
  -1,080
  -1,134
  -1,190
  -1,250
Free cash flow, $m
  -86
  253
  253
  254
  255
  256
  259
  261
  265
  268
  273
  229
  235
  241
  247
  254
  261
  269
  278
  287
  297
  307
  318
  330
  343
  356
  370
  384
  400
  416
  433
Issuance/(repayment) of debt, $m
  164
  129
  140
  152
  164
  176
  189
  202
  216
  229
  244
  258
  274
  290
  306
  323
  341
  360
  380
  400
  422
  444
  468
  492
  518
  545
  573
  602
  633
  666
  700
Issuance/(repurchase) of shares, $m
  -221
  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  
  -102
  129
  140
  152
  164
  176
  189
  202
  216
  229
  244
  258
  274
  290
  306
  323
  341
  360
  380
  400
  422
  444
  468
  492
  518
  545
  573
  602
  633
  666
  700
Total cash flow (excl. dividends), $m
  -188
  382
  393
  406
  419
  433
  448
  464
  480
  498
  516
  488
  509
  530
  553
  577
  603
  630
  658
  687
  719
  751
  786
  822
  860
  900
  943
  987
  1,033
  1,082
  1,133
Retained Cash Flow (-), $m
  84
  -62
  -71
  -77
  -84
  -90
  -97
  -103
  -110
  -117
  -124
  -132
  -140
  -148
  -156
  -165
  -174
  -184
  -194
  -204
  -215
  -227
  -239
  -251
  -264
  -278
  -293
  -308
  -323
  -340
  -357
Prev. year cash balance distribution, $m
 
  74
  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
 
  394
  322
  328
  335
  343
  351
  360
  370
  381
  392
  356
  369
  382
  397
  412
  429
  446
  464
  483
  503
  525
  547
  571
  596
  622
  650
  679
  710
  742
  776
Discount rate, %
 
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
 
  363
  271
  250
  229
  209
  188
  168
  148
  130
  112
  84
  71
  59
  48
  39
  31
  24
  18
  14
  10
  7
  5
  3
  2
  1
  1
  1
  0
  0
  0
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

LifePoint Health, Inc., through its subsidiaries, owns and operates community hospitals, regional health systems, physician practices, outpatient centers, and post-acute facilities in the United States. Its hospitals offer a range of medical and surgical services, such as general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, rehabilitation, and pediatric services, as well as specialized services, including open-heart surgery, skilled nursing, psychiatric care, and neuro-surgery. The company’s hospitals also provide various outpatient services comprising same-day surgery, laboratory, X-ray, respiratory therapy, imaging, sports medicine, and lithotripsy. In addition, it owns and operates schools of nursing and other allied health professions. As of December 31, 2016, the company operated 72 hospital campuses, including 9,424 licensed beds in 22 states. The company was formerly known as LifePoint Hospitals, Inc. and changed its name to LifePoint Health, Inc. in May 2015. LifePoint Health, Inc. was founded in 1997 and is based in Brentwood, Tennessee.

FINANCIAL RATIOS  of  LifePoint Health (LPNT)

Valuation Ratios
P/E Ratio 19.8
Price to Sales 0.4
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 69
Growth Rates
Sales Growth Rate 22.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 45.5%
Cap. Spend. - 3 Yr. Gr. Rate 16.7%
Financial Strength
Quick Ratio 4
Current Ratio 0.1
LT Debt to Equity 132.7%
Total Debt to Equity 133.7%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.4%
Ret/ On Assets - 3 Yr. Avg. 3.8%
Return On Total Capital 2.4%
Ret/ On T. Cap. - 3 Yr. Avg. 3.1%
Return On Equity 5.5%
Return On Equity - 3 Yr. Avg. 6.5%
Asset Turnover 1
Profitability Ratios
Gross Margin 35.4%
Gross Margin - 3 Yr. Avg. 36.2%
EBITDA Margin 11%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 3.2%
Oper. Margin - 3 Yr. Avg. 4.5%
Pre-Tax Margin 3.2%
Pre-Tax Margin - 3 Yr. Avg. 4.5%
Net Profit Margin 1.9%
Net Profit Margin - 3 Yr. Avg. 2.7%
Effective Tax Rate 35.6%
Eff/ Tax Rate - 3 Yr. Avg. 35.1%
Payout Ratio 0%

LPNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LPNT stock intrinsic value calculation we used $6364 million for the last fiscal year's total revenue generated by LifePoint Health. The default revenue input number comes from 2016 income statement of LifePoint Health. 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 LPNT stock valuation model: a) initial revenue growth rate of 3.1% 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 8.6%, whose default value for LPNT is calculated based on our internal credit rating of LifePoint Health, 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 LifePoint Health.
    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 LPNT stock the variable cost ratio is equal to 94.3%.

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 LPNT 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 5% for LifePoint Health.

Corporate tax rate of 27% is the nominal tax rate for LifePoint Health. 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 LPNT 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 LPNT are equal to 44.8%.

Life of production assets of 12.9 years is the average useful life of capital assets used in LifePoint Health 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 LPNT is equal to 7.1%. 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 - $2180 million for LifePoint Health - 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 39.658 million for LifePoint Health 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 LifePoint Health at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ Hospitals Take Another Hit From Latest Senate Health Plan   [Jul-13-17 01:25PM  TheStreet.com]
▶ Nashville health care CEO named co-chairman of chamber's Partnership 2020   [Jul-11-17 12:30PM  American City Business Journals]
▶ Senate's Delay in Medicaid Pullback Boosts Hospitals   [Jun-22-17 12:01PM  TheStreet.com]
▶ LifePoint beats 1Q profit forecasts   [07:10AM  Associated Press]
▶ Wall Street Week Ahead: Is Chaos the New Normal?   [Apr-08-17 10:56AM  TheStreet.com]
▶ Headwinds ahead for hospitals?   [03:47PM  CNBC Videos]
▶ [$$] Hospital Stocks Rise Amid Broader Slump   [03:14PM  The Wall Street Journal]
▶ [$$] Hospital Stocks Rise Amid Broader Slump   [03:14PM  at The Wall Street Journal]
▶ LifePoint Health Furthers Commitment to Chest Pain Care   [Dec-22-16 02:00PM  Business Wire]
▶ 5 big hurdles to repealing Obamacare   [08:56AM  at MarketWatch]
▶ LHC Group and LifePoint Health to Form Joint Venture   [Nov-02-16 07:00AM  Business Wire]
Stock chart of LPNT Financial statements of LPNT Annual reports of LPNT
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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