Intrinsic value of MagneGas - MNGA

Previous Close

$0.58

  Intrinsic Value

$0.01

stock screener

  Rating & Target

str. sell

-98%

  Value-price divergence*

0%

Previous close

$0.58

 
Intrinsic value

$0.01

 
Up/down potential

-98%

 
Rating

str. sell

 
Value-price divergence*

0%

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

We calculate the intrinsic value of MNGA 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 0.0

 

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, %
  100.00
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  13
  13
Variable operating expenses, $m
 
  8
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  26
Fixed operating expenses, $m
 
  8
  8
  9
  9
  9
  9
  10
  10
  10
  10
  10
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
Total operating expenses, $m
  16
  16
  16
  18
  18
  18
  18
  20
  20
  20
  21
  21
  22
  23
  23
  25
  25
  26
  27
  28
  29
  30
  32
  32
  33
  35
  36
  38
  39
  40
  43
Operating income, $m
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -26
  -27
  -28
  -29
EBITDA, $m
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -25
  -26
  -27
Interest expense (income), $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
  1
  1
  1
  1
  1
Earnings before tax, $m
  -17
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -24
  -25
  -26
  -27
  -28
  -29
  -30
Tax expense, $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
Net income, $m
  -17
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -24
  -25
  -26
  -27
  -28
  -29
  -30

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  13
  11
  11
  12
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  33
  34
  36
Adjusted assets (=assets-cash), $m
  11
  11
  11
  12
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  33
  34
  36
Revenue / Adjusted assets
  0.364
  0.364
  0.364
  0.333
  0.333
  0.417
  0.385
  0.385
  0.357
  0.357
  0.333
  0.400
  0.375
  0.353
  0.353
  0.389
  0.368
  0.350
  0.381
  0.364
  0.348
  0.375
  0.360
  0.346
  0.370
  0.357
  0.367
  0.355
  0.364
  0.382
  0.361
Average production assets, $m
  7
  7
  7
  7
  7
  7
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  19
  20
  21
Working capital, $m
  -4
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Total debt, $m
  1
  1
  1
  2
  2
  2
  3
  3
  3
  4
  4
  5
  5
  6
  6
  7
  8
  8
  9
  10
  11
  11
  12
  13
  14
  15
  16
  18
  19
  20
  21
Total liabilities, $m
  9
  9
  9
  10
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
  22
  23
  24
  26
  27
  28
  29
Total equity, $m
  4
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  7
Total liabilities and equity, $m
  13
  11
  11
  12
  12
  12
  13
  13
  14
  15
  15
  16
  16
  17
  17
  18
  19
  20
  21
  22
  23
  23
  25
  26
  27
  28
  29
  32
  33
  34
  36
Debt-to-equity ratio
  0.250
  0.570
  0.660
  0.760
  0.860
  0.970
  1.080
  1.190
  1.300
  1.420
  1.530
  1.640
  1.750
  1.860
  1.970
  2.080
  2.180
  2.280
  2.370
  2.460
  2.550
  2.640
  2.720
  2.800
  2.880
  2.950
  3.020
  3.090
  3.150
  3.220
  3.280
Adjusted equity ratio
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182
  0.182

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -17
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -24
  -25
  -26
  -27
  -28
  -29
  -30
Depreciation, amort., depletion, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
Funds from operations, $m
  -10
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -23
  -24
  -25
  -26
  -27
  -28
Change in working capital, $m
  -1
  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 operations, $m
  -9
  -11
  -12
  -12
  -12
  -13
  -13
  -13
  -14
  -14
  -15
  -15
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -23
  -24
  -25
  -26
  -27
  -28
Maintenance CAPEX, $m
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
New CAPEX, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from investing activities, $m
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
Free cash flow, $m
  -10
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
Issuance/(repayment) of debt, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Issuance/(repurchase) of shares, $m
  5
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  17
  17
  18
  18
  19
  19
  20
  21
  21
  22
  23
  24
  25
  25
  26
  27
  28
  29
  30
Cash from financing (excl. dividends), $m  
  6
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  18
  18
  19
  19
  20
  20
  21
  22
  22
  23
  24
  25
  26
  26
  27
  28
  29
  30
  31
Total cash flow (excl. dividends), $m
  -4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Retained Cash Flow (-), $m
  11
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -25
  -26
  -27
  -28
  -29
  -30
Prev. year cash balance distribution, $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
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
 
  -10
  -12
  -13
  -13
  -13
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -27
  -28
  -29
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
 
  -10
  -11
  -11
  -11
  -10
  -10
  -9
  -9
  -9
  -8
  -7
  -7
  -6
  -6
  -5
  -5
  -4
  -4
  -3
  -3
  -2
  -2
  -2
  -1
  -1
  -1
  -1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  54.6
  29.8
  16.2
  8.8
  4.8
  2.6
  1.4
  0.8
  0.4
  0.2
  0.1
  0.1
  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
  0.0
  0.0
  0.0

MagneGas Corporation, an alternative energy company, creates and produces hydrogen based alternative fuel through the gasification of carbon-rich liquids in the United States and internationally. The company produces gas bottled in cylinders and distributes to the metalworking market as an alternative to acetylene. It offers MagneGas, a fuel that primarily comprises hydrogen; and Plasma Arc Flow refineries that produce gas. The company also sells and licenses the plasma arc technology for the processing of liquid waste. The company was founded in 2007 and is based in Tarpon Springs, Florida.

FINANCIAL RATIOS  of  MagneGas (MNGA)

Valuation Ratios
P/E Ratio -0.2
Price to Sales 0.8
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow -0.4
Price to Free Cash Flow -0.3
Growth Rates
Sales Growth Rate 100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 25%
Total Debt to Equity 25%
Interest Coverage 0
Management Effectiveness
Return On Assets -109.7%
Ret/ On Assets - 3 Yr. Avg. -74.3%
Return On Total Capital -161.9%
Ret/ On T. Cap. - 3 Yr. Avg. -91.5%
Return On Equity -178.9%
Return On Equity - 3 Yr. Avg. -99.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 50%
Gross Margin - 3 Yr. Avg. 33.3%
EBITDA Margin -400%
EBITDA Margin - 3 Yr. Avg. -516.7%
Operating Margin -300%
Oper. Margin - 3 Yr. Avg. -500%
Pre-Tax Margin -425%
Pre-Tax Margin - 3 Yr. Avg. -541.7%
Net Profit Margin -425%
Net Profit Margin - 3 Yr. Avg. -541.7%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

MNGA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MNGA stock intrinsic value calculation we used $4 million for the last fiscal year's total revenue generated by MagneGas. The default revenue input number comes from 2016 income statement of MagneGas. 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 MNGA stock valuation model: a) initial revenue growth rate of 2% 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 MNGA is calculated based on our internal credit rating of MagneGas, 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 MagneGas.
    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 MNGA stock the variable cost ratio is equal to 200%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $8 million in the base year in the intrinsic value calculation for MNGA 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 MagneGas.

Corporate tax rate of 27% is the nominal tax rate for MagneGas. 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 MNGA 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 MNGA are equal to 162.5%.

Life of production assets of 10 years is the average useful life of capital assets used in MagneGas 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 MNGA 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 - $4 million for MagneGas - 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 51.237 million for MagneGas 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 MagneGas at the current share price and the inputted number of shares is $0.0 billion.

RELATED COMPANIES Price Int.Val. Rating
APD Air Products&C 145.76 68.08  str.sell

COMPANY NEWS

▶ 3 Trending Stocks To Watch On Friday Pre-Market   [Aug-18-17 09:22AM  ACCESSWIRE]
▶ MagneGas Announces Financing Transaction   [07:00AM  PR Newswire]
▶ Top 4 Alternative Energy Stocks for 2017   [Jul-12-17 04:12PM  Investopedia]
▶ ETFs with exposure to MagneGas Corp. : June 6, 2017   [Jun-06-17 11:45AM  Capital Cube]
▶ MagneGas Expands Product Offering   [May-31-17 08:52AM  PR Newswire]
▶ MagneGas Updates Client Growth Success   [May-26-17 09:00AM  PR Newswire]
▶ ETFs with exposure to MagneGas Corp. : May 25, 2017   [May-25-17 12:43PM  Capital Cube]
▶ MagneGas Updates Florida Expansion Success   [May-22-17 09:30AM  PR Newswire]
▶ MagneGas Announces Reverse Stock Split   [May-19-17 12:19PM  PR Newswire]
▶ How these two Tampa Bay companies got the financing to grow their technology   [May-16-17 12:18PM  American City Business Journals]
▶ ETFs with exposure to MagneGas Corp. : May 1, 2017   [May-01-17 04:07PM  Capital Cube]
▶ ETFs with exposure to MagneGas Corp. : April 19, 2017   [Apr-19-17 02:26PM  Capital Cube]
▶ ETFs with exposure to MagneGas Corp. : April 7, 2017   [Apr-07-17 05:04PM  Capital Cube]
▶ Gabelli & Companys Waste & Environmental Services Symposium   [Feb-15-17 07:00AM  Business Wire]
▶ MagneGas Base Looking Positive   [Feb-13-17 03:34PM  Investopedia]
▶ MagneGas Base Looking Positive   [03:34PM  at Investopedia]
▶ MagneGas Engages the Ashcroft Law Firm, LLC   [Feb-02-17 07:30AM  PR Newswire]
▶ MagneGas Plans Additional Expansion in Florida   [Jan-31-17 08:00AM  PR Newswire]
▶ MagneGas Expands Into Commercial CO2 Market   [Jan-18-17 08:00AM  PR Newswire]
▶ MagneGas Distribution Deal Could Boost Revenues   [Jan-14-17 07:31AM  at Investopedia]
▶ Is MagneGas Stock Ready to Recover?   [Dec-12-16 02:45PM  at Investopedia]
▶ MagneGas Receives Analyst Upgrade (MNGA)   [Dec-04-16 05:53PM  at Investopedia]
▶ MagneGas May be Expanding (MNGA)   [Nov-25-16 05:00PM  at Investopedia]
▶ MagneGas Stock Drops Fast on 3Q Loss News (MNGA)   [Nov-17-16 04:23PM  at Investopedia]
▶ Timing MagneGas Trades (MNGA)   [Nov-10-16 05:26PM  at Investopedia]
▶ MagneGas Stock Falling Despite No News (MNGA)   [Nov-07-16 11:47AM  at Investopedia]
▶ MagneGas Fundamentals Outperform Stock (MNGA)   [06:50AM  at Investopedia]
▶ MagneGas Stock Breakout May Be Over (MNGA)   [Oct-26-16 09:22AM  at Investopedia]
▶ MagneGas Stock Chart Flashes Warning Signs (MNGA)   [Oct-24-16 08:19PM  at Investopedia]
▶ MagneGas Stock Price Jumps on Good News (MNGA)   [11:47AM  at Investopedia]
Stock chart of MNGA Financial statements of MNGA
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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