Intrinsic value of M.D.C. Holdings - MDC

Previous Close

$34.33

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$34.33

 
Intrinsic value

$126.52

 
Up/down potential

+269%

 
Rating

str. buy

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of MDC 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 1.8

 

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, %
  21.90
  27.10
  24.89
  22.90
  21.11
  19.50
  18.05
  16.74
  15.57
  14.51
  13.56
  12.71
  11.94
  11.24
  10.62
  10.06
  9.55
  9.10
  8.69
  8.32
  7.99
  7.69
  7.42
  7.18
  6.96
  6.76
  6.59
  6.43
  6.29
  6.16
  6.04
Revenue, $m
  2,327
  2,958
  3,694
  4,540
  5,498
  6,570
  7,756
  9,055
  10,465
  11,983
  13,609
  15,338
  17,168
  19,098
  21,126
  23,250
  25,471
  27,788
  30,201
  32,713
  35,325
  38,041
  40,862
  43,795
  46,842
  50,010
  53,304
  56,731
  60,296
  64,008
  67,875
Variable operating expenses, $m
 
  2,576
  3,217
  3,953
  4,788
  5,722
  6,754
  7,885
  9,113
  10,435
  11,850
  13,355
  14,949
  16,630
  18,395
  20,245
  22,179
  24,196
  26,297
  28,485
  30,759
  33,124
  35,581
  38,134
  40,788
  43,546
  46,414
  49,398
  52,502
  55,735
  59,102
Fixed operating expenses, $m
 
  160
  164
  168
  172
  176
  181
  185
  190
  195
  200
  205
  210
  215
  220
  226
  232
  237
  243
  249
  256
  262
  269
  275
  282
  289
  296
  304
  311
  319
  327
Total operating expenses, $m
  2,178
  2,736
  3,381
  4,121
  4,960
  5,898
  6,935
  8,070
  9,303
  10,630
  12,050
  13,560
  15,159
  16,845
  18,615
  20,471
  22,411
  24,433
  26,540
  28,734
  31,015
  33,386
  35,850
  38,409
  41,070
  43,835
  46,710
  49,702
  52,813
  56,054
  59,429
Operating income, $m
  149
  222
  313
  418
  538
  672
  821
  984
  1,162
  1,354
  1,559
  1,778
  2,009
  2,254
  2,510
  2,779
  3,061
  3,354
  3,660
  3,979
  4,310
  4,655
  5,013
  5,386
  5,773
  6,175
  6,594
  7,029
  7,482
  7,954
  8,446
EBITDA, $m
  154
  228
  320
  427
  548
  684
  835
  1,001
  1,181
  1,375
  1,583
  1,805
  2,040
  2,287
  2,548
  2,820
  3,106
  3,403
  3,714
  4,037
  4,373
  4,722
  5,085
  5,463
  5,855
  6,263
  6,688
  7,129
  7,589
  8,067
  8,566
Interest expense (income), $m
  1
  30
  40
  53
  67
  82
  100
  120
  141
  164
  189
  216
  245
  275
  307
  340
  375
  412
  450
  490
  531
  574
  619
  665
  714
  764
  816
  870
  927
  986
  1,047
Earnings before tax, $m
  152
  192
  273
  366
  471
  590
  721
  865
  1,021
  1,189
  1,369
  1,562
  1,765
  1,979
  2,204
  2,439
  2,686
  2,943
  3,211
  3,489
  3,779
  4,081
  4,394
  4,720
  5,059
  5,411
  5,777
  6,159
  6,555
  6,969
  7,399
Tax expense, $m
  49
  52
  74
  99
  127
  159
  195
  234
  276
  321
  370
  422
  476
  534
  595
  659
  725
  795
  867
  942
  1,020
  1,102
  1,186
  1,274
  1,366
  1,461
  1,560
  1,663
  1,770
  1,882
  1,998
Net income, $m
  103
  140
  199
  267
  344
  431
  526
  631
  745
  868
  1,000
  1,140
  1,288
  1,445
  1,609
  1,781
  1,961
  2,148
  2,344
  2,547
  2,759
  2,979
  3,208
  3,446
  3,693
  3,950
  4,217
  4,496
  4,785
  5,087
  5,401

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  283
  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
  2,529
  2,855
  3,565
  4,382
  5,307
  6,342
  7,487
  8,740
  10,101
  11,567
  13,136
  14,805
  16,572
  18,435
  20,392
  22,443
  24,586
  26,822
  29,152
  31,576
  34,098
  36,719
  39,443
  42,273
  45,215
  48,273
  51,452
  54,759
  58,201
  61,784
  65,517
Adjusted assets (=assets-cash), $m
  2,246
  2,855
  3,565
  4,382
  5,307
  6,342
  7,487
  8,740
  10,101
  11,567
  13,136
  14,805
  16,572
  18,435
  20,392
  22,443
  24,586
  26,822
  29,152
  31,576
  34,098
  36,719
  39,443
  42,273
  45,215
  48,273
  51,452
  54,759
  58,201
  61,784
  65,517
Revenue / Adjusted assets
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
  1.036
Average production assets, $m
  28
  35
  44
  54
  66
  79
  93
  109
  126
  144
  163
  184
  206
  229
  254
  279
  306
  333
  362
  393
  424
  456
  490
  526
  562
  600
  640
  681
  724
  768
  815
Working capital, $m
  0
  -216
  -270
  -331
  -401
  -480
  -566
  -661
  -764
  -875
  -993
  -1,120
  -1,253
  -1,394
  -1,542
  -1,697
  -1,859
  -2,028
  -2,205
  -2,388
  -2,579
  -2,777
  -2,983
  -3,197
  -3,419
  -3,651
  -3,891
  -4,141
  -4,402
  -4,673
  -4,955
Total debt, $m
  971
  1,155
  1,502
  1,900
  2,352
  2,857
  3,415
  4,027
  4,691
  5,407
  6,172
  6,987
  7,849
  8,758
  9,713
  10,714
  11,760
  12,851
  13,988
  15,171
  16,402
  17,681
  19,010
  20,391
  21,827
  23,319
  24,871
  26,485
  28,164
  29,913
  31,734
Total liabilities, $m
  1,209
  1,393
  1,740
  2,138
  2,590
  3,095
  3,653
  4,265
  4,929
  5,645
  6,410
  7,225
  8,087
  8,996
  9,951
  10,952
  11,998
  13,089
  14,226
  15,409
  16,640
  17,919
  19,248
  20,629
  22,065
  23,557
  25,109
  26,723
  28,402
  30,151
  31,972
Total equity, $m
  1,320
  1,462
  1,825
  2,244
  2,717
  3,247
  3,833
  4,475
  5,172
  5,922
  6,725
  7,580
  8,485
  9,439
  10,441
  11,491
  12,588
  13,733
  14,926
  16,167
  17,458
  18,800
  20,195
  21,644
  23,150
  24,716
  26,343
  28,037
  29,799
  31,634
  33,544
Total liabilities and equity, $m
  2,529
  2,855
  3,565
  4,382
  5,307
  6,342
  7,486
  8,740
  10,101
  11,567
  13,135
  14,805
  16,572
  18,435
  20,392
  22,443
  24,586
  26,822
  29,152
  31,576
  34,098
  36,719
  39,443
  42,273
  45,215
  48,273
  51,452
  54,760
  58,201
  61,785
  65,516
Debt-to-equity ratio
  0.736
  0.790
  0.820
  0.850
  0.870
  0.880
  0.890
  0.900
  0.910
  0.910
  0.920
  0.920
  0.930
  0.930
  0.930
  0.930
  0.930
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.940
  0.950
  0.950
  0.950
Adjusted equity ratio
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512
  0.512

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  103
  140
  199
  267
  344
  431
  526
  631
  745
  868
  1,000
  1,140
  1,288
  1,445
  1,609
  1,781
  1,961
  2,148
  2,344
  2,547
  2,759
  2,979
  3,208
  3,446
  3,693
  3,950
  4,217
  4,496
  4,785
  5,087
  5,401
Depreciation, amort., depletion, $m
  5
  6
  7
  9
  10
  12
  14
  17
  19
  22
  25
  27
  30
  34
  37
  41
  45
  49
  53
  58
  62
  67
  72
  77
  83
  88
  94
  100
  106
  113
  120
Funds from operations, $m
  89
  146
  206
  276
  354
  443
  541
  648
  764
  890
  1,024
  1,167
  1,319
  1,478
  1,646
  1,822
  2,006
  2,197
  2,397
  2,605
  2,821
  3,046
  3,280
  3,523
  3,776
  4,038
  4,312
  4,596
  4,892
  5,200
  5,521
Change in working capital, $m
  -27
  -46
  -54
  -62
  -70
  -78
  -87
  -95
  -103
  -111
  -119
  -126
  -134
  -141
  -148
  -155
  -162
  -169
  -176
  -183
  -191
  -198
  -206
  -214
  -222
  -231
  -240
  -250
  -260
  -271
  -282
Cash from operations, $m
  116
  192
  260
  337
  424
  521
  627
  743
  867
  1,001
  1,143
  1,293
  1,452
  1,619
  1,794
  1,977
  2,168
  2,366
  2,573
  2,788
  3,012
  3,244
  3,486
  3,737
  3,998
  4,270
  4,552
  4,846
  5,152
  5,471
  5,803
Maintenance CAPEX, $m
  0
  -4
  -5
  -7
  -8
  -10
  -12
  -14
  -16
  -18
  -21
  -24
  -27
  -30
  -34
  -37
  -41
  -45
  -49
  -53
  -58
  -62
  -67
  -72
  -77
  -83
  -88
  -94
  -100
  -106
  -113
New CAPEX, $m
  -4
  -7
  -9
  -10
  -12
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -46
Cash from investing activities, $m
  9
  -11
  -14
  -17
  -20
  -23
  -26
  -30
  -33
  -36
  -41
  -45
  -49
  -53
  -58
  -62
  -68
  -73
  -78
  -83
  -89
  -95
  -101
  -107
  -114
  -121
  -128
  -135
  -143
  -151
  -159
Free cash flow, $m
  125
  180
  246
  321
  405
  498
  601
  713
  834
  964
  1,102
  1,249
  1,403
  1,566
  1,736
  1,914
  2,100
  2,294
  2,495
  2,705
  2,923
  3,150
  3,385
  3,630
  3,884
  4,149
  4,424
  4,711
  5,009
  5,320
  5,644
Issuance/(repayment) of debt, $m
  26
  298
  347
  398
  451
  505
  559
  612
  664
  715
  766
  814
  862
  909
  955
  1,001
  1,046
  1,091
  1,137
  1,183
  1,230
  1,279
  1,329
  1,381
  1,436
  1,492
  1,552
  1,614
  1,680
  1,749
  1,821
Issuance/(repurchase) of shares, $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
Cash from financing (excl. dividends), $m  
  26
  298
  347
  398
  451
  505
  559
  612
  664
  715
  766
  814
  862
  909
  955
  1,001
  1,046
  1,091
  1,137
  1,183
  1,230
  1,279
  1,329
  1,381
  1,436
  1,492
  1,552
  1,614
  1,680
  1,749
  1,821
Total cash flow (excl. dividends), $m
  151
  478
  593
  719
  856
  1,003
  1,160
  1,325
  1,499
  1,680
  1,868
  2,063
  2,265
  2,475
  2,691
  2,915
  3,146
  3,385
  3,632
  3,888
  4,153
  4,429
  4,714
  5,011
  5,320
  5,641
  5,976
  6,325
  6,689
  7,069
  7,466
Retained Cash Flow (-), $m
  -64
  -311
  -364
  -418
  -474
  -530
  -586
  -642
  -697
  -751
  -803
  -855
  -905
  -954
  -1,002
  -1,050
  -1,097
  -1,145
  -1,193
  -1,241
  -1,291
  -1,342
  -1,395
  -1,449
  -1,506
  -1,566
  -1,628
  -1,693
  -1,762
  -1,835
  -1,911
Prev. year cash balance distribution, $m
 
  169
  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
 
  337
  229
  301
  383
  474
  574
  683
  802
  929
  1,065
  1,209
  1,361
  1,521
  1,689
  1,865
  2,049
  2,240
  2,439
  2,647
  2,862
  3,087
  3,320
  3,562
  3,814
  4,076
  4,348
  4,631
  4,927
  5,234
  5,555
Discount rate, %
 
  6.50
  6.83
  7.17
  7.52
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
PV of cash for distribution, $m
 
  316
  200
  245
  286
  324
  356
  381
  398
  407
  407
  399
  384
  362
  335
  303
  270
  235
  200
  167
  137
  109
  85
  65
  48
  35
  25
  17
  11
  7
  5
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

M.D.C. Holdings, Inc., through its subsidiaries, engages in homebuilding and financial service businesses in the United States. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name. The company conducts its homebuilding operations in Arizona, California, Nevada, Washington, Colorado, Utah, Virginia, Florida, Maryland, Pennsylvania, and New Jersey. Its financial services operations consist of originating mortgage loans primarily for homebuyers; providing insurance coverage primarily to its homebuilding subsidiaries and subcontractors for homes sold by its homebuilding subsidiaries, and for work performed in completed subdivisions; acting as a re-insurer on the claims; selling third-party personal property and casualty insurance products to homebuyers; and offering title agency services to homebuilding subsidiaries and customers. M.D.C. Holdings, Inc. was founded in 1972 and is based in Denver, Colorado.

FINANCIAL RATIOS  of  M.D.C. Holdings (MDC)

Valuation Ratios
P/E Ratio 17.2
Price to Sales 0.8
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 15.2
Price to Free Cash Flow 15.8
Growth Rates
Sales Growth Rate 21.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 300%
Cap. Spend. - 3 Yr. Gr. Rate 14.9%
Financial Strength
Quick Ratio 2
Current Ratio NaN
LT Debt to Equity 64.9%
Total Debt to Equity 73.6%
Interest Coverage 153
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. 3.2%
Return On Total Capital 4.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.5%
Return On Equity 8%
Return On Equity - 3 Yr. Avg. 6.2%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 17%
Gross Margin - 3 Yr. Avg. 17.3%
EBITDA Margin 6.8%
EBITDA Margin - 3 Yr. Avg. 6.2%
Operating Margin 6.4%
Oper. Margin - 3 Yr. Avg. 5.3%
Pre-Tax Margin 6.5%
Pre-Tax Margin - 3 Yr. Avg. 5.9%
Net Profit Margin 4.4%
Net Profit Margin - 3 Yr. Avg. 3.9%
Effective Tax Rate 32.2%
Eff/ Tax Rate - 3 Yr. Avg. 34.6%
Payout Ratio 47.6%

MDC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MDC stock intrinsic value calculation we used $2327 million for the last fiscal year's total revenue generated by M.D.C. Holdings. The default revenue input number comes from 2016 income statement of M.D.C. Holdings. 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 MDC stock valuation model: a) initial revenue growth rate of 27.1% 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 6.5%, whose default value for MDC is calculated based on our internal credit rating of M.D.C. Holdings, 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 M.D.C. Holdings.
    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 MDC stock the variable cost ratio is equal to 87.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $156 million in the base year in the intrinsic value calculation for MDC 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 M.D.C. Holdings.

Corporate tax rate of 27% is the nominal tax rate for M.D.C. Holdings. 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 MDC 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 MDC are equal to 1.2%.

Life of production assets of 6.8 years is the average useful life of capital assets used in M.D.C. Holdings 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 MDC is equal to -7.3%. 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 - $1320 million for M.D.C. Holdings - 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 51.581 million for M.D.C. Holdings 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 M.D.C. Holdings at the current share price and the inputted number of shares is $1.8 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
HOV Hovnanian Ente 2.47 prem.  prem.
KBH KB Home 21.46 prem.  prem.
LEN Lennar Cl A 52.45 prem.  prem.
CAA CalAtlantic Gr 37.27 prem.  prem.
TOL Toll Brothers 38.03 prem.  prem.
DHI D.R. Horton 33.91 prem.  prem.
NVR NVR 2,357.27 prem.  prem.
MHO M/I Homes 28.56 prem.  prem.
LGIH LGI Homes 32.54 prem.  prem.
MTH Meritage Homes 40.85 prem.  prem.

COMPANY NEWS

▶ Tesla, American Airlines Buoy Nasdaq; NYSE Indexes Lag A Bit   [May-09-17 02:56PM  Investor's Business Daily]
▶ M.D.C. Holdings tops Street 1Q forecasts   [06:08AM  Associated Press]
▶ 10 Best Home Builders in California   [Apr-26-17 06:20PM  Insider Monkey]
▶ M.D.C. Holdings Declares Quarterly Cash Dividend   [Apr-24-17 07:52PM  PR Newswire]
▶ Buy homebuilders on the dip?   [Mar-22-17 04:18PM  CNBC Videos]
▶ National Homebuilder Celebrates 40th Anniversary   [Feb-02-17 05:24PM  PR Newswire]
▶ M.D.C. Holdings beats Street 4Q forecasts   [06:16AM  Associated Press]
▶ M.D.C. Holdings Declares Quarterly Cash Dividend   [Jan-23-17 10:22PM  PR Newswire]
▶ Should You Avoid M.D.C. Holdings, Inc. (MDC)?   [Dec-12-16 01:06PM  at Insider Monkey]
▶ So Starbucks Is Getting A New CEO; Will It Work This Time?   [Dec-02-16 10:14AM  at Barrons.com]
▶ Is Depomed Inc (DEPO) A Good Stock To Buy?   [08:40AM  at Insider Monkey]
▶ M.D.C. Holdings Declares Quarterly Cash Dividend   [Oct-24-16 07:42PM  PR Newswire]
▶ Richmond American To Debut New Townhome Model In Hampden   [Aug-03-16 05:01PM  PR Newswire]
Stock chart of MDC Financial statements of MDC Annual reports of MDC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

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

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