Intrinsic value of MRC Global - MRC

Previous Close

$21.95

  Intrinsic Value

$49.69

stock screener

  Rating & Target

str. buy

+126%

Previous close

$21.95

 
Intrinsic value

$49.69

 
Up/down potential

+126%

 
Rating

str. buy

We calculate the intrinsic value of MRC 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, %
  -32.85
  19.90
  18.41
  17.07
  15.86
  14.78
  13.80
  12.92
  12.13
  11.41
  10.77
  10.20
  9.68
  9.21
  8.79
  8.41
  8.07
  7.76
  7.48
  7.24
  7.01
  6.81
  6.63
  6.47
  6.32
  6.19
  6.07
  5.96
  5.87
  5.78
  5.70
Revenue, $m
  3,041
  4,372
  5,176
  6,060
  7,021
  8,059
  9,171
  10,355
  11,611
  12,936
  14,330
  15,791
  17,319
  18,913
  20,575
  22,305
  24,105
  25,976
  27,920
  29,940
  32,040
  34,223
  36,492
  38,852
  41,307
  43,864
  46,526
  49,300
  52,192
  55,209
  58,357
Variable operating expenses, $m
 
  3,620
  4,271
  4,985
  5,763
  6,601
  7,500
  8,458
  9,474
  10,545
  11,672
  12,768
  14,003
  15,293
  16,637
  18,036
  19,491
  21,003
  22,576
  24,209
  25,907
  27,672
  29,506
  31,415
  33,400
  35,467
  37,620
  39,863
  42,202
  44,641
  47,186
Fixed operating expenses, $m
 
  593
  606
  619
  633
  647
  661
  675
  690
  705
  721
  737
  753
  770
  787
  804
  822
  840
  858
  877
  896
  916
  936
  957
  978
  999
  1,021
  1,044
  1,067
  1,090
  1,114
Total operating expenses, $m
  3,098
  4,213
  4,877
  5,604
  6,396
  7,248
  8,161
  9,133
  10,164
  11,250
  12,393
  13,505
  14,756
  16,063
  17,424
  18,840
  20,313
  21,843
  23,434
  25,086
  26,803
  28,588
  30,442
  32,372
  34,378
  36,466
  38,641
  40,907
  43,269
  45,731
  48,300
Operating income, $m
  -57
  159
  300
  455
  626
  811
  1,009
  1,221
  1,447
  1,685
  1,937
  2,286
  2,562
  2,851
  3,152
  3,466
  3,793
  4,133
  4,486
  4,854
  5,237
  5,635
  6,049
  6,480
  6,929
  7,397
  7,885
  8,393
  8,924
  9,478
  10,057
EBITDA, $m
  12
  366
  529
  709
  906
  1,120
  1,349
  1,595
  1,855
  2,130
  2,420
  2,725
  3,044
  3,377
  3,724
  4,086
  4,463
  4,855
  5,263
  5,687
  6,128
  6,586
  7,064
  7,560
  8,078
  8,617
  9,178
  9,764
  10,375
  11,013
  11,679
Interest expense (income), $m
  30
  35
  56
  79
  104
  131
  161
  193
  227
  263
  301
  341
  383
  426
  472
  520
  569
  621
  674
  730
  788
  848
  910
  975
  1,043
  1,113
  1,186
  1,263
  1,342
  1,425
  1,511
Earnings before tax, $m
  -91
  124
  244
  377
  522
  679
  848
  1,028
  1,220
  1,423
  1,636
  1,945
  2,180
  2,424
  2,680
  2,946
  3,224
  3,512
  3,812
  4,124
  4,449
  4,787
  5,139
  5,505
  5,886
  6,284
  6,698
  7,131
  7,582
  8,053
  8,545
Tax expense, $m
  -8
  33
  66
  102
  141
  183
  229
  278
  329
  384
  442
  525
  588
  655
  724
  796
  870
  948
  1,029
  1,114
  1,201
  1,293
  1,387
  1,486
  1,589
  1,697
  1,809
  1,925
  2,047
  2,174
  2,307
Net income, $m
  -83
  90
  178
  275
  381
  496
  619
  751
  891
  1,038
  1,194
  1,420
  1,591
  1,770
  1,956
  2,151
  2,353
  2,564
  2,783
  3,011
  3,248
  3,495
  3,751
  4,019
  4,297
  4,587
  4,890
  5,205
  5,535
  5,879
  6,238

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  109
  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
  2,164
  2,806
  3,322
  3,890
  4,507
  5,172
  5,886
  6,646
  7,452
  8,303
  9,198
  10,135
  11,116
  12,140
  13,206
  14,317
  15,472
  16,673
  17,920
  19,217
  20,565
  21,966
  23,422
  24,937
  26,513
  28,154
  29,863
  31,643
  33,500
  35,436
  37,456
Adjusted assets (=assets-cash), $m
  2,055
  2,806
  3,322
  3,890
  4,507
  5,172
  5,886
  6,646
  7,452
  8,303
  9,198
  10,135
  11,116
  12,140
  13,206
  14,317
  15,472
  16,673
  17,920
  19,217
  20,565
  21,966
  23,422
  24,937
  26,513
  28,154
  29,863
  31,643
  33,500
  35,436
  37,456
Revenue / Adjusted assets
  1.480
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
  1.558
Average production assets, $m
  503
  1,215
  1,439
  1,685
  1,952
  2,240
  2,549
  2,879
  3,228
  3,596
  3,984
  4,390
  4,815
  5,258
  5,720
  6,201
  6,701
  7,221
  7,762
  8,323
  8,907
  9,514
  10,145
  10,801
  11,483
  12,194
  12,934
  13,705
  14,509
  15,348
  16,223
Working capital, $m
  684
  341
  404
  473
  548
  629
  715
  808
  906
  1,009
  1,118
  1,232
  1,351
  1,475
  1,605
  1,740
  1,880
  2,026
  2,178
  2,335
  2,499
  2,669
  2,846
  3,030
  3,222
  3,421
  3,629
  3,845
  4,071
  4,306
  4,552
Total debt, $m
  414
  842
  1,191
  1,574
  1,991
  2,442
  2,924
  3,438
  3,983
  4,558
  5,163
  5,796
  6,459
  7,151
  7,872
  8,623
  9,404
  10,216
  11,059
  11,936
  12,847
  13,794
  14,778
  15,802
  16,868
  17,977
  19,132
  20,336
  21,591
  22,900
  24,265
Total liabilities, $m
  1,046
  1,897
  2,246
  2,629
  3,046
  3,497
  3,979
  4,493
  5,038
  5,613
  6,218
  6,851
  7,514
  8,206
  8,927
  9,678
  10,459
  11,271
  12,114
  12,991
  13,902
  14,849
  15,833
  16,857
  17,923
  19,032
  20,187
  21,391
  22,646
  23,955
  25,320
Total equity, $m
  1,118
  909
  1,076
  1,260
  1,460
  1,676
  1,907
  2,153
  2,415
  2,690
  2,980
  3,284
  3,602
  3,933
  4,279
  4,639
  5,013
  5,402
  5,806
  6,226
  6,663
  7,117
  7,589
  8,080
  8,590
  9,122
  9,675
  10,252
  10,854
  11,481
  12,136
Total liabilities and equity, $m
  2,164
  2,806
  3,322
  3,889
  4,506
  5,173
  5,886
  6,646
  7,453
  8,303
  9,198
  10,135
  11,116
  12,139
  13,206
  14,317
  15,472
  16,673
  17,920
  19,217
  20,565
  21,966
  23,422
  24,937
  26,513
  28,154
  29,862
  31,643
  33,500
  35,436
  37,456
Debt-to-equity ratio
  0.370
  0.930
  1.110
  1.250
  1.360
  1.460
  1.530
  1.600
  1.650
  1.690
  1.730
  1.770
  1.790
  1.820
  1.840
  1.860
  1.880
  1.890
  1.900
  1.920
  1.930
  1.940
  1.950
  1.960
  1.960
  1.970
  1.980
  1.980
  1.990
  1.990
  2.000
Adjusted equity ratio
  0.491
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324
  0.324

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -83
  90
  178
  275
  381
  496
  619
  751
  891
  1,038
  1,194
  1,420
  1,591
  1,770
  1,956
  2,151
  2,353
  2,564
  2,783
  3,011
  3,248
  3,495
  3,751
  4,019
  4,297
  4,587
  4,890
  5,205
  5,535
  5,879
  6,238
Depreciation, amort., depletion, $m
  69
  207
  229
  254
  281
  309
  340
  373
  408
  445
  484
  439
  481
  526
  572
  620
  670
  722
  776
  832
  891
  951
  1,014
  1,080
  1,148
  1,219
  1,293
  1,371
  1,451
  1,535
  1,622
Funds from operations, $m
  484
  297
  408
  529
  662
  805
  959
  1,124
  1,299
  1,483
  1,678
  1,859
  2,073
  2,296
  2,528
  2,771
  3,023
  3,286
  3,559
  3,843
  4,139
  4,446
  4,766
  5,099
  5,445
  5,807
  6,183
  6,576
  6,986
  7,414
  7,860
Change in working capital, $m
  231
  57
  63
  69
  75
  81
  87
  92
  98
  103
  109
  114
  119
  124
  130
  135
  140
  146
  152
  158
  164
  170
  177
  184
  192
  199
  208
  216
  226
  235
  246
Cash from operations, $m
  253
  241
  345
  460
  587
  724
  873
  1,032
  1,201
  1,380
  1,569
  1,745
  1,953
  2,171
  2,399
  2,636
  2,883
  3,140
  3,407
  3,686
  3,975
  4,276
  4,589
  4,915
  5,254
  5,607
  5,976
  6,360
  6,760
  7,178
  7,615
Maintenance CAPEX, $m
  0
  -101
  -122
  -144
  -168
  -195
  -224
  -255
  -288
  -323
  -360
  -398
  -439
  -481
  -526
  -572
  -620
  -670
  -722
  -776
  -832
  -891
  -951
  -1,014
  -1,080
  -1,148
  -1,219
  -1,293
  -1,371
  -1,451
  -1,535
New CAPEX, $m
  -33
  -201
  -224
  -246
  -267
  -288
  -309
  -329
  -349
  -368
  -387
  -406
  -425
  -443
  -462
  -481
  -500
  -520
  -541
  -562
  -584
  -607
  -631
  -656
  -683
  -711
  -740
  -771
  -804
  -839
  -875
Cash from investing activities, $m
  16
  -302
  -346
  -390
  -435
  -483
  -533
  -584
  -637
  -691
  -747
  -804
  -864
  -924
  -988
  -1,053
  -1,120
  -1,190
  -1,263
  -1,338
  -1,416
  -1,498
  -1,582
  -1,670
  -1,763
  -1,859
  -1,959
  -2,064
  -2,175
  -2,290
  -2,410
Free cash flow, $m
  269
  -61
  -1
  71
  151
  241
  340
  447
  564
  689
  822
  940
  1,090
  1,246
  1,411
  1,583
  1,763
  1,950
  2,145
  2,348
  2,559
  2,778
  3,007
  3,244
  3,491
  3,748
  4,016
  4,295
  4,586
  4,889
  5,205
Issuance/(repayment) of debt, $m
  -108
  316
  349
  383
  417
  450
  482
  514
  545
  575
  605
  634
  663
  692
  721
  751
  781
  812
  844
  877
  911
  947
  985
  1,024
  1,065
  1,109
  1,155
  1,204
  1,255
  1,309
  1,366
Issuance/(repurchase) of shares, $m
  -94
  60
  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  
  -202
  376
  349
  383
  417
  450
  482
  514
  545
  575
  605
  634
  663
  692
  721
  751
  781
  812
  844
  877
  911
  947
  985
  1,024
  1,065
  1,109
  1,155
  1,204
  1,255
  1,309
  1,366
Total cash flow (excl. dividends), $m
  64
  314
  349
  454
  568
  691
  822
  961
  1,109
  1,264
  1,427
  1,574
  1,753
  1,938
  2,132
  2,334
  2,543
  2,762
  2,988
  3,224
  3,470
  3,725
  3,991
  4,268
  4,557
  4,857
  5,171
  5,499
  5,840
  6,198
  6,571
Retained Cash Flow (-), $m
  193
  -150
  -167
  -184
  -200
  -216
  -231
  -246
  -261
  -276
  -290
  -304
  -318
  -332
  -346
  -360
  -374
  -389
  -404
  -420
  -437
  -454
  -472
  -491
  -511
  -532
  -554
  -577
  -601
  -627
  -655
Prev. year cash balance distribution, $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 flow adjustment, $m
 
  15
  17
  21
  24
  28
  32
  37
  41
  46
  52
  57
  63
  69
  76
  82
  89
  96
  104
  112
  120
  128
  137
  146
  155
  165
  175
  186
  197
  209
  221
Cash available for distribution, $m
 
  164
  181
  270
  368
  475
  591
  715
  848
  988
  1,137
  1,271
  1,435
  1,607
  1,786
  1,974
  2,169
  2,372
  2,584
  2,804
  3,033
  3,271
  3,519
  3,777
  4,046
  4,326
  4,618
  4,922
  5,239
  5,570
  5,916
Discount rate, %
 
  8.30
  8.72
  9.15
  9.61
  10.09
  10.59
  11.12
  11.68
  12.26
  12.88
  13.52
  14.20
  14.91
  15.65
  16.43
  17.26
  18.12
  19.02
  19.97
  20.97
  22.02
  23.12
  24.28
  25.49
  26.77
  28.11
  29.51
  30.99
  32.54
  34.16
PV of cash for distribution, $m
 
  151
  153
  208
  255
  294
  323
  342
  350
  349
  339
  315
  292
  264
  233
  201
  170
  140
  112
  88
  67
  50
  36
  25
  17
  12
  7
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2

MRC Global Inc. is an industrial distributor of pipe, valves and fittings and related products and services to the energy industry. The Company's segments include the U.S., Canada and International. Its U.S. segment includes the United States Eastern Region and Gulf Coast, and the United States Western Region. It provides services, such as product testing, manufacturer assessments, daily deliveries, volume purchasing, inventory and zone store management and warehousing, technical support, training, just-in-time delivery, truck stocking, order consolidation, product tagging and system interfaces customized to customer and supplier specifications for tracking and replenishing inventory, engineering of control packages, and valve inspection and repair. The Company's principal product types include valves, automation, measurement and instrumentation; carbon steel fittings and flanges; stainless steel and alloy fittings, flanges and pipe; gas products; line pipe, and other.

FINANCIAL RATIOS  of  MRC Global (MRC)

Valuation Ratios
P/E Ratio -25.1
Price to Sales 0.7
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 8.2
Price to Free Cash Flow 9.5
Growth Rates
Sales Growth Rate -32.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.4%
Cap. Spend. - 3 Yr. Gr. Rate 8.4%
Financial Strength
Quick Ratio 14
Current Ratio 0.1
LT Debt to Equity 36.3%
Total Debt to Equity 37%
Interest Coverage -2
Management Effectiveness
Return On Assets -2.4%
Ret/ On Assets - 3 Yr. Avg. -2.2%
Return On Total Capital -4.9%
Ret/ On T. Cap. - 3 Yr. Avg. -4.5%
Return On Equity -6.8%
Return On Equity - 3 Yr. Avg. -6.9%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 15.4%
Gross Margin - 3 Yr. Avg. 16.6%
EBITDA Margin 0.3%
EBITDA Margin - 3 Yr. Avg. 0.6%
Operating Margin -1.9%
Oper. Margin - 3 Yr. Avg. -1%
Pre-Tax Margin -3%
Pre-Tax Margin - 3 Yr. Avg. -2.2%
Net Profit Margin -2.7%
Net Profit Margin - 3 Yr. Avg. -2.5%
Effective Tax Rate 8.8%
Eff/ Tax Rate - 3 Yr. Avg. 16%
Payout Ratio -28.9%

MRC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MRC stock intrinsic value calculation we used $3646 million for the last fiscal year's total revenue generated by MRC Global. The default revenue input number comes from 2016 income statement of MRC Global. 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 MRC stock valuation model: a) initial revenue growth rate of 19.9% 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 8.3%, whose default value for MRC is calculated based on our internal credit rating of MRC Global, 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 MRC Global.
    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 MRC stock the variable cost ratio is equal to 83.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $580 million in the base year in the intrinsic value calculation for MRC 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 6.6% for MRC Global.

Corporate tax rate of 27% is the nominal tax rate for MRC Global. 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 MRC stock is equal to 0.4%.

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 MRC are equal to 27.8%.

Life of production assets of 10 years is the average useful life of capital assets used in MRC Global 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 MRC is equal to 7.8%. 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 - $759 million for MRC Global - 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 94 million for MRC Global 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 MRC Global at the current share price and the inputted number of shares is $2.1 billion.

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COMPANY NEWS

▶ 10 Small-Caps Leading the Market Rebound   [Jul-10-18 09:19AM  InvestorPlace]
▶ MRC Global Reprices Term Loan B   [May-22-18 04:15PM  PR Newswire]
▶ MRC Global Inc (NYSE:MRC): Time For A Financial Health Check   [May-11-18 01:23PM  Simply Wall St.]
▶ MRC Global Inc. Recovery Starts Gaining Steam   [May-03-18 11:00AM  Motley Fool]
▶ MRC: 1Q Earnings Snapshot   [May-02-18 06:01PM  Associated Press]
▶ Does Mercator Medical SA.s (WSE:MRC) PE Ratio Warrant A Buy?   [Mar-22-18 06:28AM  Simply Wall St.]
▶ Have Investors Priced In MRC Global Incs (NYSE:MRC) Growth?   [Mar-15-18 02:30PM  Simply Wall St.]
▶ Are Mercator Medical SA.s (WSE:MRC) Interest Costs Too High?   [Mar-13-18 09:54AM  Simply Wall St.]
▶ MRC Global Inc. to Host Earnings Call   [07:40AM  ACCESSWIRE]
▶ MRC misses Street 4Q forecasts   [Feb-15-18 04:53PM  Associated Press]
▶ MRC Global Inc (MRC): Time For A Financial Health Check   [Dec-11-17 08:38AM  Simply Wall St.]
▶ Is It Time To Buy MRC Global Inc (MRC)?   [Nov-09-17 04:55PM  Simply Wall St.]
▶ ETFs with exposure to MRC Global, Inc. : November 7, 2017   [Nov-07-17 10:31AM  Capital Cube]
▶ MRC Global Inc. to Host Earnings Call   [08:15AM  ACCESSWIRE]
▶ MRC misses Street 3Q forecasts   [Nov-02-17 04:54PM  Associated Press]
▶ ExxonMobil Selects MRC Global as Primary Valve Provider   [Aug-22-17 04:15PM  PR Newswire]
▶ MRC misses 2Q profit forecasts   [Aug-03-17 05:30PM  Associated Press]
▶ MRC Global Renews Global PVF Contract with Chevron   [Jun-07-17 04:15PM  PR Newswire]
Financial statements of MRC
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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