Intrinsic value of Mimecast - MIME

Previous Close

$26.69

  Intrinsic Value

$8.12

stock screener

  Rating & Target

str. sell

-70%

  Value-price divergence*

-196%

Previous close

$26.69

 
Intrinsic value

$8.12

 
Up/down potential

-70%

 
Rating

str. sell

 
Value-price divergence*

-196%

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

We calculate the intrinsic value of MIME 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 2017), $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 1.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.69
  40.50
  36.95
  33.76
  30.88
  28.29
  25.96
  23.87
  21.98
  20.28
  18.75
  17.38
  16.14
  15.03
  14.02
  13.12
  12.31
  11.58
  10.92
  10.33
  9.80
  9.32
  8.88
  8.50
  8.15
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
Revenue, $m
  187
  263
  360
  481
  630
  808
  1,018
  1,261
  1,538
  1,850
  2,197
  2,579
  2,995
  3,445
  3,928
  4,443
  4,990
  5,568
  6,176
  6,814
  7,481
  8,178
  8,905
  9,661
  10,448
  11,267
  12,117
  13,001
  13,919
  14,874
  15,866
Variable operating expenses, $m
 
  267
  365
  488
  639
  819
  1,032
  1,278
  1,559
  1,875
  2,227
  2,613
  3,035
  3,491
  3,980
  4,502
  5,057
  5,642
  6,258
  6,905
  7,581
  8,287
  9,023
  9,790
  10,587
  11,417
  12,278
  13,174
  14,105
  15,072
  16,078
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
  197
  267
  365
  488
  639
  819
  1,032
  1,278
  1,559
  1,875
  2,227
  2,613
  3,035
  3,491
  3,980
  4,502
  5,057
  5,642
  6,258
  6,905
  7,581
  8,287
  9,023
  9,790
  10,587
  11,417
  12,278
  13,174
  14,105
  15,072
  16,078
Operating income, $m
  -10
  -4
  -5
  -7
  -9
  -11
  -14
  -17
  -21
  -25
  -30
  -34
  -40
  -46
  -52
  -59
  -66
  -74
  -82
  -91
  -100
  -109
  -119
  -129
  -139
  -150
  -161
  -173
  -185
  -198
  -211
EBITDA, $m
  2
  -2
  -2
  -3
  -4
  -5
  -6
  -8
  -9
  -11
  -13
  -16
  -18
  -21
  -24
  -27
  -31
  -34
  -38
  -42
  -46
  -50
  -55
  -59
  -64
  -69
  -74
  -80
  -85
  -91
  -97
Interest expense (income), $m
  0
  0
  1
  3
  6
  9
  13
  17
  22
  28
  34
  41
  49
  58
  67
  77
  88
  100
  112
  124
  138
  151
  166
  181
  197
  213
  230
  248
  266
  285
  305
Earnings before tax, $m
  -3
  -4
  -7
  -10
  -15
  -20
  -27
  -34
  -43
  -53
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -174
  -194
  -215
  -237
  -260
  -285
  -310
  -336
  -363
  -392
  -421
  -452
  -484
  -517
Tax expense, $m
  2
  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
Net income, $m
  -5
  -4
  -7
  -10
  -15
  -20
  -27
  -34
  -43
  -53
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -174
  -194
  -215
  -237
  -260
  -285
  -310
  -336
  -363
  -392
  -421
  -452
  -484
  -517

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  112
  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
  205
  174
  238
  318
  416
  534
  672
  833
  1,016
  1,222
  1,451
  1,703
  1,978
  2,275
  2,594
  2,935
  3,296
  3,678
  4,079
  4,500
  4,941
  5,402
  5,882
  6,381
  6,901
  7,442
  8,003
  8,587
  9,194
  9,824
  10,480
Adjusted assets (=assets-cash), $m
  93
  174
  238
  318
  416
  534
  672
  833
  1,016
  1,222
  1,451
  1,703
  1,978
  2,275
  2,594
  2,935
  3,296
  3,678
  4,079
  4,500
  4,941
  5,402
  5,882
  6,381
  6,901
  7,442
  8,003
  8,587
  9,194
  9,824
  10,480
Revenue / Adjusted assets
  2.011
  1.511
  1.513
  1.513
  1.514
  1.513
  1.515
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
  1.514
Average production assets, $m
  14
  19
  26
  35
  45
  58
  73
  91
  111
  133
  158
  186
  216
  248
  283
  320
  359
  401
  445
  491
  539
  589
  641
  696
  752
  811
  872
  936
  1,002
  1,071
  1,142
Working capital, $m
  56
  -26
  -36
  -48
  -63
  -81
  -102
  -126
  -154
  -185
  -220
  -258
  -299
  -344
  -393
  -444
  -499
  -557
  -618
  -681
  -748
  -818
  -890
  -966
  -1,045
  -1,127
  -1,212
  -1,300
  -1,392
  -1,487
  -1,587
Total debt, $m
  2
  35
  93
  165
  253
  359
  484
  628
  793
  979
  1,185
  1,412
  1,659
  1,927
  2,214
  2,520
  2,845
  3,189
  3,550
  3,929
  4,326
  4,740
  5,172
  5,622
  6,090
  6,576
  7,082
  7,607
  8,153
  8,721
  9,311
Total liabilities, $m
  123
  156
  214
  286
  374
  480
  605
  749
  914
  1,100
  1,306
  1,533
  1,780
  2,048
  2,335
  2,641
  2,966
  3,310
  3,671
  4,050
  4,447
  4,861
  5,293
  5,743
  6,211
  6,697
  7,203
  7,728
  8,274
  8,842
  9,432
Total equity, $m
  82
  17
  24
  32
  42
  53
  67
  83
  102
  122
  145
  170
  198
  228
  259
  293
  330
  368
  408
  450
  494
  540
  588
  638
  690
  744
  800
  859
  919
  982
  1,048
Total liabilities and equity, $m
  205
  173
  238
  318
  416
  533
  672
  832
  1,016
  1,222
  1,451
  1,703
  1,978
  2,276
  2,594
  2,934
  3,296
  3,678
  4,079
  4,500
  4,941
  5,401
  5,881
  6,381
  6,901
  7,441
  8,003
  8,587
  9,193
  9,824
  10,480
Debt-to-equity ratio
  0.024
  2.030
  3.910
  5.190
  6.090
  6.730
  7.200
  7.550
  7.810
  8.010
  8.170
  8.290
  8.390
  8.470
  8.530
  8.590
  8.630
  8.670
  8.700
  8.730
  8.760
  8.780
  8.790
  8.810
  8.820
  8.840
  8.850
  8.860
  8.870
  8.880
  8.880
Adjusted equity ratio
  -0.323
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -5
  -4
  -7
  -10
  -15
  -20
  -27
  -34
  -43
  -53
  -64
  -76
  -89
  -104
  -120
  -137
  -155
  -174
  -194
  -215
  -237
  -260
  -285
  -310
  -336
  -363
  -392
  -421
  -452
  -484
  -517
Depreciation, amort., depletion, $m
  12
  2
  3
  4
  5
  6
  8
  10
  12
  14
  16
  19
  22
  25
  28
  32
  36
  40
  44
  49
  54
  59
  64
  70
  75
  81
  87
  94
  100
  107
  114
Funds from operations, $m
  55
  -2
  -3
  -6
  -10
  -14
  -19
  -25
  -31
  -39
  -48
  -57
  -68
  -79
  -91
  -105
  -119
  -134
  -149
  -166
  -183
  -202
  -220
  -240
  -261
  -282
  -304
  -328
  -352
  -376
  -402
Change in working capital, $m
  22
  -8
  -10
  -12
  -15
  -18
  -21
  -24
  -28
  -31
  -35
  -38
  -42
  -45
  -48
  -52
  -55
  -58
  -61
  -64
  -67
  -70
  -73
  -76
  -79
  -82
  -85
  -88
  -92
  -95
  -99
Cash from operations, $m
  33
  6
  6
  6
  5
  4
  2
  0
  -4
  -8
  -13
  -19
  -26
  -34
  -43
  -53
  -64
  -76
  -89
  -102
  -117
  -132
  -148
  -165
  -182
  -200
  -219
  -239
  -260
  -281
  -303
Maintenance CAPEX, $m
  0
  -1
  -2
  -3
  -3
  -5
  -6
  -7
  -9
  -11
  -13
  -16
  -19
  -22
  -25
  -28
  -32
  -36
  -40
  -44
  -49
  -54
  -59
  -64
  -70
  -75
  -81
  -87
  -94
  -100
  -107
New CAPEX, $m
  -18
  -5
  -7
  -9
  -11
  -13
  -15
  -17
  -20
  -22
  -25
  -27
  -30
  -32
  -35
  -37
  -39
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -61
  -64
  -66
  -69
  -71
Cash from investing activities, $m
  -85
  -6
  -9
  -12
  -14
  -18
  -21
  -24
  -29
  -33
  -38
  -43
  -49
  -54
  -60
  -65
  -71
  -78
  -84
  -90
  -97
  -104
  -111
  -118
  -127
  -134
  -142
  -151
  -160
  -169
  -178
Free cash flow, $m
  -52
  -1
  -3
  -5
  -9
  -13
  -19
  -25
  -33
  -41
  -51
  -62
  -75
  -88
  -103
  -119
  -135
  -153
  -173
  -193
  -214
  -236
  -259
  -283
  -308
  -334
  -362
  -390
  -419
  -450
  -482
Issuance/(repayment) of debt, $m
  -5
  35
  58
  72
  88
  106
  125
  144
  165
  185
  206
  227
  247
  267
  287
  306
  325
  343
  361
  379
  397
  414
  432
  450
  468
  486
  506
  525
  546
  567
  590
Issuance/(repurchase) of shares, $m
  4
  19
  13
  18
  24
  32
  40
  50
  61
  74
  87
  101
  117
  134
  152
  171
  191
  212
  234
  257
  281
  306
  333
  360
  388
  417
  448
  479
  512
  547
  582
Cash from financing (excl. dividends), $m  
  0
  54
  71
  90
  112
  138
  165
  194
  226
  259
  293
  328
  364
  401
  439
  477
  516
  555
  595
  636
  678
  720
  765
  810
  856
  903
  954
  1,004
  1,058
  1,114
  1,172
Total cash flow (excl. dividends), $m
  -55
  54
  68
  85
  104
  124
  146
  170
  193
  218
  242
  266
  290
  313
  336
  359
  380
  402
  423
  444
  464
  485
  505
  526
  548
  569
  592
  615
  639
  664
  690
Retained Cash Flow (-), $m
  -4
  -19
  -13
  -18
  -24
  -32
  -40
  -50
  -61
  -74
  -87
  -101
  -117
  -134
  -152
  -171
  -191
  -212
  -234
  -257
  -281
  -306
  -333
  -360
  -388
  -417
  -448
  -479
  -512
  -547
  -582
Prev. year cash balance distribution, $m
 
  80
  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
 
  114
  55
  67
  79
  93
  106
  119
  132
  144
  155
  165
  173
  179
  184
  188
  190
  190
  189
  187
  183
  178
  173
  167
  160
  152
  144
  135
  127
  117
  108
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  109
  50
  58
  65
  72
  77
  81
  83
  83
  81
  78
  74
  68
  62
  55
  48
  41
  35
  29
  23
  18
  14
  11
  8
  6
  4
  3
  2
  1
  1
Current shareholders' claim on cash, %
  100
  57.0
  53.1
  49.3
  45.8
  42.5
  39.5
  36.7
  34.2
  31.9
  29.8
  27.9
  26.1
  24.4
  22.9
  21.5
  20.2
  19.0
  17.8
  16.8
  15.8
  14.9
  14.0
  13.2
  12.4
  11.7
  11.1
  10.4
  9.8
  9.3
  8.8

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection that extends traditional gateway security to protect organizations against targeted attacks, audit and reporting, and enables administrators and security specialists to monitor and report attempted attacks; and URL Protect, which tackles threat from emails containing malicious links. Its Mimecast Email Security services also comprise Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; Secure Messaging for sharing sensitive information with external contacts through email; Large File Send, which enables PC and Mac users to send and receive large files directly from Outlook or a native Mac app; and Data Leak Prevention, which prevents the inadvertent or malicious loss of sensitive corporate data with advanced data leak prevention and content controls. In addition, the company provides Mimecast Mailbox Continuity, which protects email and data against threat of downtime as a result of system failure, natural disasters and impact of planned maintenance, system upgrades, and migrations; and Mimecast Enterprise Information Archiving that offers cloud archive consolidation of inbound, outbound and internal email, files, instant messaging in an archive, and incorporates legacy data from additional archives into the same searchable store. Further, it offers Service Bundles, a unified service managed from a single administration console; and Mimecast Mobile and Desktop Apps for mobile, PC, and Mac users to get self-service access to security features. The company sells its services through direct sales efforts and channel partners. Mimecast Limited was founded in 2003 and is headquartered in London, the United Kingdom.

FINANCIAL RATIOS  of  Mimecast (MIME)

Valuation Ratios
P/E Ratio -298.4
Price to Sales 8
Price to Book 18.2
Price to Tangible Book
Price to Cash Flow 45.2
Price to Free Cash Flow 99.5
Growth Rates
Sales Growth Rate 31.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 28.6%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 56
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 2.4%
Interest Coverage 0
Management Effectiveness
Return On Assets -2.6%
Ret/ On Assets - 3 Yr. Avg. -1.2%
Return On Total Capital -5.9%
Ret/ On T. Cap. - 3 Yr. Avg. -3.9%
Return On Equity -6.3%
Return On Equity - 3 Yr. Avg. -4.5%
Asset Turnover 1
Profitability Ratios
Gross Margin 72.7%
Gross Margin - 3 Yr. Avg. 70.4%
EBITDA Margin 4.8%
EBITDA Margin - 3 Yr. Avg. 7.2%
Operating Margin -5.3%
Oper. Margin - 3 Yr. Avg. -3.4%
Pre-Tax Margin -1.6%
Pre-Tax Margin - 3 Yr. Avg. -1%
Net Profit Margin -2.7%
Net Profit Margin - 3 Yr. Avg. -1.6%
Effective Tax Rate -66.7%
Eff/ Tax Rate - 3 Yr. Avg. -38.9%
Payout Ratio 0%

MIME stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MIME stock intrinsic value calculation we used $187 million for the last fiscal year's total revenue generated by Mimecast. The default revenue input number comes from 2017 income statement of Mimecast. 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 MIME stock valuation model: a) initial revenue growth rate of 40.5% 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 4.3%, whose default value for MIME is calculated based on our internal credit rating of Mimecast, 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 Mimecast.
    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 MIME stock the variable cost ratio is equal to 101.6%.

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 MIME 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 Mimecast.

Corporate tax rate of 27% is the nominal tax rate for Mimecast. 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 MIME 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 MIME are equal to 7.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Mimecast 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 MIME is equal to -10%. 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 - $82 million for Mimecast - 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 54.402 million for Mimecast 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 Mimecast at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ Mimecast reports 1Q loss   [Aug-08-17 10:16PM  Associated Press]
▶ Mimecast Announces First Quarter 2018 Financial Results   [Aug-07-17 04:11PM  GlobeNewswire]
▶ Mimecast North America Announces Partnership with Insight   [Jun-28-17 08:30AM  GlobeNewswire]
▶ Mimecast reports 4Q loss   [May-09-17 05:21PM  Associated Press]
▶ Mimecast's Enterprise Potential Is Underappreciated   [Apr-13-17 09:57AM  Benzinga]
▶ Mimecast Announces New Board Member Aron Ain   [Apr-03-17 08:30AM  GlobeNewswire]
▶ Should You Buy Mimecast Ltd (MIME)?   [Dec-10-16 04:46PM  at Insider Monkey]
▶ Mimecast Limited Announces Pricing of Secondary Offering   [Sep-28-16 08:02PM  GlobeNewswire]
▶ Mimecast Limited Announces Launch of Secondary Offering   [Sep-26-16 04:10PM  GlobeNewswire]
Stock chart of MIME Financial statements of MIME
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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