Intrinsic value of Moelis - MC

Previous Close

$61.45

  Intrinsic Value

$43.24

stock screener

  Rating & Target

sell

-30%

Previous close

$61.45

 
Intrinsic value

$43.24

 
Up/down potential

-30%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as MC.

We calculate the intrinsic value of MC 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, %
  11.05
  11.60
  10.94
  10.35
  9.81
  9.33
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.86
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
Revenue, $m
  613
  764
  848
  936
  1,028
  1,124
  1,224
  1,328
  1,436
  1,548
  1,665
  1,787
  1,913
  2,045
  2,181
  2,323
  2,471
  2,625
  2,785
  2,952
  3,126
  3,307
  3,496
  3,694
  3,900
  4,116
  4,341
  4,577
  4,823
  5,081
  5,351
Variable operating expenses, $m
 
  562
  622
  685
  750
  819
  890
  964
  1,042
  1,122
  1,206
  1,276
  1,367
  1,460
  1,558
  1,659
  1,765
  1,875
  1,989
  2,108
  2,232
  2,362
  2,497
  2,638
  2,786
  2,939
  3,100
  3,269
  3,445
  3,629
  3,821
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
  452
  562
  622
  685
  750
  819
  890
  964
  1,042
  1,122
  1,206
  1,276
  1,367
  1,460
  1,558
  1,659
  1,765
  1,875
  1,989
  2,108
  2,232
  2,362
  2,497
  2,638
  2,786
  2,939
  3,100
  3,269
  3,445
  3,629
  3,821
Operating income, $m
  161
  202
  226
  251
  277
  305
  333
  363
  394
  426
  460
  511
  547
  584
  623
  664
  706
  750
  796
  844
  893
  945
  999
  1,056
  1,115
  1,176
  1,241
  1,308
  1,378
  1,452
  1,529
EBITDA, $m
  164
  308
  342
  377
  414
  453
  493
  535
  579
  624
  672
  721
  771
  824
  880
  937
  996
  1,058
  1,123
  1,190
  1,260
  1,333
  1,410
  1,489
  1,573
  1,659
  1,750
  1,845
  1,945
  2,049
  2,157
Interest expense (income), $m
  0
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
  8
Earnings before tax, $m
  167
  194
  218
  243
  269
  296
  325
  355
  386
  418
  451
  502
  539
  576
  615
  656
  698
  742
  788
  835
  885
  937
  991
  1,047
  1,106
  1,168
  1,232
  1,300
  1,370
  1,444
  1,521
Tax expense, $m
  25
  52
  59
  66
  73
  80
  88
  96
  104
  113
  122
  136
  145
  156
  166
  177
  188
  200
  213
  226
  239
  253
  268
  283
  299
  315
  333
  351
  370
  390
  411
Net income, $m
  38
  141
  159
  177
  196
  216
  237
  259
  282
  305
  330
  367
  393
  421
  449
  479
  509
  542
  575
  610
  646
  684
  723
  765
  808
  853
  900
  949
  1,000
  1,054
  1,110

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  319
  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
  599
  -156
  -173
  -191
  -210
  -230
  -250
  -271
  -293
  -316
  -340
  -365
  -391
  -418
  -446
  -475
  -505
  -536
  -569
  -603
  -639
  -676
  -715
  -755
  -797
  -841
  -887
  -935
  -986
  -1,038
  -1,094
Adjusted assets (=assets-cash), $m
  280
  -156
  -173
  -191
  -210
  -230
  -250
  -271
  -293
  -316
  -340
  -365
  -391
  -418
  -446
  -475
  -505
  -536
  -569
  -603
  -639
  -676
  -715
  -755
  -797
  -841
  -887
  -935
  -986
  -1,038
  -1,094
Revenue / Adjusted assets
  2.189
  -4.897
  -4.902
  -4.901
  -4.895
  -4.887
  -4.896
  -4.900
  -4.901
  -4.899
  -4.897
  -4.896
  -4.893
  -4.892
  -4.890
  -4.891
  -4.893
  -4.897
  -4.895
  -4.896
  -4.892
  -4.892
  -4.890
  -4.893
  -4.893
  -4.894
  -4.894
  -4.895
  -4.891
  -4.895
  -4.891
Average production assets, $m
  9
  897
  996
  1,099
  1,206
  1,319
  1,436
  1,559
  1,686
  1,818
  1,955
  2,098
  2,246
  2,401
  2,561
  2,728
  2,901
  3,082
  3,270
  3,465
  3,670
  3,883
  4,105
  4,337
  4,579
  4,832
  5,096
  5,373
  5,662
  5,965
  6,282
Working capital, $m
  0
  -396
  -439
  -485
  -532
  -582
  -634
  -688
  -744
  -802
  -863
  -926
  -991
  -1,059
  -1,130
  -1,203
  -1,280
  -1,360
  -1,443
  -1,529
  -1,619
  -1,713
  -1,811
  -1,913
  -2,020
  -2,132
  -2,249
  -2,371
  -2,498
  -2,632
  -2,772
Total debt, $m
  0
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  154
  153
  153
  153
  153
  153
  153
  153
  153
  153
  152
  152
  152
  152
  152
  152
Total liabilities, $m
  387
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
Total equity, $m
  212
  -156
  -173
  -191
  -209
  -229
  -249
  -271
  -293
  -316
  -339
  -364
  -390
  -417
  -444
  -473
  -504
  -535
  -567
  -601
  -637
  -674
  -712
  -753
  -795
  -839
  -885
  -933
  -983
  -1,035
  -1,090
Total liabilities and equity, $m
  599
  -156
  -174
  -192
  -210
  -230
  -250
  -272
  -294
  -317
  -340
  -365
  -391
  -418
  -445
  -474
  -506
  -537
  -569
  -603
  -639
  -676
  -714
  -755
  -797
  -842
  -888
  -936
  -986
  -1,038
  -1,093
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  -0.382
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997
  0.997

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  38
  141
  159
  177
  196
  216
  237
  259
  282
  305
  330
  367
  393
  421
  449
  479
  509
  542
  575
  610
  646
  684
  723
  765
  808
  853
  900
  949
  1,000
  1,054
  1,110
Depreciation, amort., depletion, $m
  3
  106
  116
  126
  137
  148
  160
  172
  185
  198
  212
  210
  225
  240
  256
  273
  290
  308
  327
  347
  367
  388
  410
  434
  458
  483
  510
  537
  566
  596
  628
Funds from operations, $m
  245
  248
  275
  303
  333
  365
  397
  431
  466
  503
  541
  577
  618
  661
  705
  751
  800
  850
  902
  956
  1,013
  1,072
  1,134
  1,198
  1,266
  1,336
  1,409
  1,486
  1,566
  1,650
  1,738
Change in working capital, $m
  14
  -41
  -43
  -45
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -65
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -90
  -94
  -98
  -102
  -107
  -112
  -117
  -122
  -128
  -134
  -140
Cash from operations, $m
  231
  289
  318
  349
  381
  414
  449
  485
  523
  561
  602
  640
  683
  729
  776
  825
  876
  929
  985
  1,043
  1,103
  1,166
  1,232
  1,301
  1,372
  1,447
  1,526
  1,608
  1,694
  1,784
  1,878
Maintenance CAPEX, $m
  0
  -80
  -90
  -100
  -110
  -121
  -132
  -144
  -156
  -169
  -182
  -196
  -210
  -225
  -240
  -256
  -273
  -290
  -308
  -327
  -347
  -367
  -388
  -410
  -434
  -458
  -483
  -510
  -537
  -566
  -596
New CAPEX, $m
  -3
  -94
  -98
  -103
  -108
  -113
  -117
  -122
  -127
  -132
  -137
  -143
  -148
  -154
  -160
  -167
  -173
  -181
  -188
  -196
  -204
  -213
  -222
  -232
  -242
  -253
  -264
  -277
  -289
  -303
  -317
Cash from investing activities, $m
  1
  -174
  -188
  -203
  -218
  -234
  -249
  -266
  -283
  -301
  -319
  -339
  -358
  -379
  -400
  -423
  -446
  -471
  -496
  -523
  -551
  -580
  -610
  -642
  -676
  -711
  -747
  -787
  -826
  -869
  -913
Free cash flow, $m
  232
  114
  130
  146
  163
  181
  200
  219
  240
  261
  283
  301
  325
  350
  375
  402
  430
  459
  489
  520
  552
  586
  621
  658
  697
  737
  778
  822
  868
  915
  965
Issuance/(repayment) of debt, $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
  0
Issuance/(repurchase) of shares, $m
  0
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
Cash from financing (excl. dividends), $m  
  -3
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
Total cash flow (excl. dividends), $m
  226
  98
  113
  128
  144
  161
  179
  198
  217
  238
  259
  276
  299
  323
  348
  373
  400
  427
  456
  486
  517
  549
  583
  618
  654
  693
  732
  774
  817
  862
  910
Retained Cash Flow (-), $m
  -44
  16
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  30
  31
  33
  34
  35
  37
  39
  40
  42
  44
  46
  48
  50
  53
  55
Prev. year cash balance distribution, $m
 
  140
  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
 
  97
  108
  120
  132
  145
  158
  173
  187
  202
  218
  235
  252
  270
  288
  308
  328
  348
  370
  393
  416
  441
  466
  493
  521
  550
  580
  612
  645
  680
  716
Cash available for distribution, $m
 
  254
  130
  146
  163
  181
  200
  219
  240
  261
  283
  301
  325
  350
  375
  402
  430
  459
  489
  520
  552
  586
  621
  658
  696
  736
  778
  822
  867
  915
  965
Discount rate, %
 
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
 
  240
  116
  122
  127
  130
  132
  132
  131
  127
  123
  115
  108
  101
  92
  83
  74
  65
  56
  47
  39
  32
  26
  20
  15
  12
  9
  6
  4
  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

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters. With 17 offices located in North and South America, Europe, the Middle East, Asia and Australia, the Company provided information flow and cross-border solutions as of December 31, 2016. The Company offers advisory services in all industries, including consumer, retail and restaurants; energy, power and infrastructure; financial institutions; financial sponsors; general industrials; healthcare; real estate, gaming, lodging and leisure, and technology, media and telecommunications. It advises clients on all aspects of public and private debt and equity transactions.

FINANCIAL RATIOS  of  Moelis (MC)

Valuation Ratios
P/E Ratio 83.6
Price to Sales 5.2
Price to Book 15
Price to Tangible Book
Price to Cash Flow 13.8
Price to Free Cash Flow 13.9
Growth Rates
Sales Growth Rate 11.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25%
Cap. Spend. - 3 Yr. Gr. Rate 8.4%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 20%
Ret/ On T. Cap. - 3 Yr. Avg. 14%
Return On Equity 20%
Return On Equity - 3 Yr. Avg. 14%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 27.7%
EBITDA Margin - 3 Yr. Avg. 21.2%
Operating Margin 26.3%
Oper. Margin - 3 Yr. Avg. 20.2%
Pre-Tax Margin 27.2%
Pre-Tax Margin - 3 Yr. Avg. 20.7%
Net Profit Margin 6.2%
Net Profit Margin - 3 Yr. Avg. 3.9%
Effective Tax Rate 15%
Eff/ Tax Rate - 3 Yr. Avg. 20%
Payout Ratio 407.9%

MC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MC stock intrinsic value calculation we used $685 million for the last fiscal year's total revenue generated by Moelis. The default revenue input number comes from 2016 income statement of Moelis. 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 MC stock valuation model: a) initial revenue growth rate of 11.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for MC is calculated based on our internal credit rating of Moelis, 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 Moelis.
    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 MC stock the variable cost ratio is equal to 73.8%.

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 MC 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 5.4% for Moelis.

Corporate tax rate of 27% is the nominal tax rate for Moelis. 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 MC stock is equal to 14.1%.

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 MC are equal to 117.4%.

Life of production assets of 10 years is the average useful life of capital assets used in Moelis 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 MC is equal to -51.8%. 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 - $0 million for Moelis - 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 53 million for Moelis 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 Moelis at the current share price and the inputted number of shares is $3.3 billion.

RELATED COMPANIES Price Int.Val. Rating
EVR Evercore Cl A 109.95 584.65  str.buy
PJT PJT Partners 55.05 12.89  str.sell
LAZ Lazard 50.82 168.30  str.buy
RILY B. Riley Finan 22.38 203.50  str.buy

COMPANY NEWS

▶ Top Ranked Income Stocks to Buy for May 29th   [May-29-18 09:34AM  Zacks]
▶ [$$] iHeartMedia Seeks Court Approval for $450 Million in Financing   [May-18-18 05:29PM  The Wall Street Journal]
▶ Moelis's Cantor on Downstream Investment, Aramco IPO   [May-14-18 03:55AM  Bloomberg]
▶ Square's Deal for Weebly Makes Sense   [Apr-27-18 01:53PM  TheStreet.com]
▶ Moelis: 1Q Earnings Snapshot   [Apr-23-18 05:04PM  Associated Press]
▶ Come on Banks. Be Nice.   [Apr-15-18 09:00AM  Bloomberg]
▶ [$$] iHeart Lawyers, Advisers Line Up for Bankruptcy Payday   [Apr-13-18 05:46PM  The Wall Street Journal]
▶ Aramco Now Comes With Some Numbers   [10:28AM  Bloomberg]
▶ MOVES- Credit Suisse, Moelis, Ernst & Young   [Mar-22-18 04:27PM  Reuters]
▶ [$$] French Connection reveals takeover approach by US group   [Mar-13-18 04:04AM  Financial Times]
▶ MOVES-JPMorgan, Multrees, Newmark Knight Frank   [Mar-09-18 04:04PM  Reuters]
▶ Is There Now An Opportunity In Moelis & Company (NYSE:MC)?   [Feb-06-18 06:29PM  Simply Wall St.]
▶ Moelis Looking to Expand Headcount by 10% to 12%   [Jan-24-18 08:44AM  Bloomberg Video]
▶ Eric Cantor at WEF   [Jan-23-18 05:16PM  Yahoo Finance Video]
▶ Moelis & Company: Tax reform will fuel merger activity   [Jan-19-18 04:32PM  CNBC Videos]
▶ Is Moelis & Company (NYSE:MC) A Sell At Its Current PE Ratio?   [Jan-17-18 02:57PM  Simply Wall St.]
▶ Goldman, Citi Said to Lead Pack for Saudi Aramco IPO   [Jan-08-18 10:11AM  Bloomberg Video]
▶ J C Penney Co. Needs a Big Move Like a Breakup?   [Jan-02-18 10:36AM  InvestorPlace]
▶ 3 Charts to Know: Luxury Stocks Lit for 2018   [Dec-27-17 07:51PM  Bloomberg Video]
▶ [$$] JPMorgan: Five Stocks It's Selling and One Buy   [Dec-19-17 03:07PM  Barrons.com]
▶ Moelis Says U.S. Needs 'Competitive' Corporate Tax Rate   [Dec-07-17 03:17PM  Bloomberg Video]
▶ ETFs with exposure to Moelis & Co. : December 1, 2017   [Dec-01-17 10:41AM  Capital Cube]
▶ On A Clear Day, You Can Drink Forever   [Nov-27-17 11:29PM  Forbes]
▶ M&A fee battle pits David v Goliath   [02:11PM  Reuters]
▶ November Top Stock Picks   [Nov-02-17 07:02AM  Simply Wall St.]
▶ MOVES-Moelis names new managing director   [Nov-01-17 11:53AM  Reuters]
▶ What Are Analysts Saying About Moelis & Companys (MC) Future?   [Oct-26-17 07:00PM  Simply Wall St.]
▶ Moelis posts 3Q profit   [Oct-25-17 06:09PM  Associated Press]
▶ Moelis & Co. to Host Earnings Call   [08:15AM  ACCESSWIRE]
Financial statements of MC
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

ASSET ALLOCATION

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

Copyright © X-FIN.com 2005-2018. All rigths reserved.