Intrinsic value of Mechel ADR - MTL

Previous Close

$5.06

  Intrinsic Value

$5.78

stock screener

  Rating & Target

hold

+14%

Previous close

$5.06

 
Intrinsic value

$5.78

 
Up/down potential

+14%

 
Rating

hold

We calculate the intrinsic value of MTL 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, %
  9.04
  11.00
  10.40
  9.86
  9.37
  8.94
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.53
  6.37
  6.24
  6.11
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
Revenue, $m
  4,694
  5,210
  5,752
  6,319
  6,912
  7,529
  8,173
  8,842
  9,538
  10,261
  11,013
  11,794
  12,605
  13,449
  14,327
  15,240
  16,190
  17,179
  18,210
  19,285
  20,405
  21,575
  22,795
  24,069
  25,401
  26,792
  28,247
  29,769
  31,362
  33,028
  34,773
Variable operating expenses, $m
 
  960
  1,057
  1,158
  1,264
  1,374
  1,489
  1,608
  1,732
  1,861
  1,995
  2,103
  2,248
  2,399
  2,555
  2,718
  2,888
  3,064
  3,248
  3,440
  3,639
  3,848
  4,066
  4,293
  4,530
  4,779
  5,038
  5,309
  5,593
  5,891
  6,202
Fixed operating expenses, $m
 
  3,252
  3,334
  3,417
  3,502
  3,590
  3,680
  3,772
  3,866
  3,963
  4,062
  4,163
  4,267
  4,374
  4,483
  4,595
  4,710
  4,828
  4,949
  5,073
  5,199
  5,329
  5,463
  5,599
  5,739
  5,883
  6,030
  6,180
  6,335
  6,493
  6,656
Total operating expenses, $m
  3,965
  4,212
  4,391
  4,575
  4,766
  4,964
  5,169
  5,380
  5,598
  5,824
  6,057
  6,266
  6,515
  6,773
  7,038
  7,313
  7,598
  7,892
  8,197
  8,513
  8,838
  9,177
  9,529
  9,892
  10,269
  10,662
  11,068
  11,489
  11,928
  12,384
  12,858
Operating income, $m
  729
  998
  1,361
  1,744
  2,145
  2,565
  3,004
  3,462
  3,939
  4,437
  4,956
  5,527
  6,090
  6,676
  7,288
  7,926
  8,592
  9,287
  10,014
  10,773
  11,567
  12,397
  13,267
  14,177
  15,131
  16,131
  17,180
  18,279
  19,433
  20,644
  21,915
EBITDA, $m
  962
  1,268
  1,657
  2,066
  2,494
  2,943
  3,411
  3,899
  4,409
  4,940
  5,493
  6,069
  6,669
  7,294
  7,946
  8,626
  9,336
  10,077
  10,850
  11,659
  12,504
  13,389
  14,314
  15,283
  16,299
  17,362
  18,478
  19,647
  20,874
  22,162
  23,513
Interest expense (income), $m
  589
  577
  271
  310
  351
  395
  439
  486
  535
  586
  638
  693
  750
  809
  870
  934
  1,001
  1,070
  1,142
  1,217
  1,295
  1,377
  1,462
  1,551
  1,644
  1,741
  1,842
  1,948
  2,059
  2,175
  2,296
Earnings before tax, $m
  241
  421
  1,091
  1,434
  1,794
  2,171
  2,565
  2,976
  3,404
  3,851
  4,317
  4,834
  5,340
  5,867
  6,418
  6,992
  7,591
  8,217
  8,872
  9,556
  10,271
  11,020
  11,805
  12,627
  13,488
  14,391
  15,338
  16,332
  17,375
  18,470
  19,620
Tax expense, $m
  84
  114
  295
  387
  484
  586
  692
  803
  919
  1,040
  1,166
  1,305
  1,442
  1,584
  1,733
  1,888
  2,050
  2,219
  2,395
  2,580
  2,773
  2,976
  3,187
  3,409
  3,642
  3,886
  4,141
  4,410
  4,691
  4,987
  5,297
Net income, $m
  121
  307
  796
  1,047
  1,310
  1,585
  1,872
  2,172
  2,485
  2,811
  3,152
  3,529
  3,898
  4,283
  4,685
  5,104
  5,542
  5,999
  6,476
  6,976
  7,498
  8,045
  8,618
  9,217
  9,846
  10,505
  11,197
  11,922
  12,684
  13,483
  14,322

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  32
  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
  5,536
  6,108
  6,744
  7,408
  8,103
  8,827
  9,581
  10,366
  11,181
  12,029
  12,910
  13,826
  14,778
  15,767
  16,796
  17,866
  18,980
  20,140
  21,349
  22,608
  23,922
  25,293
  26,723
  28,217
  29,778
  31,410
  33,115
  34,900
  36,766
  38,720
  40,765
Adjusted assets (=assets-cash), $m
  5,504
  6,108
  6,744
  7,408
  8,103
  8,827
  9,581
  10,366
  11,181
  12,029
  12,910
  13,826
  14,778
  15,767
  16,796
  17,866
  18,980
  20,140
  21,349
  22,608
  23,922
  25,293
  26,723
  28,217
  29,778
  31,410
  33,115
  34,900
  36,766
  38,720
  40,765
Revenue / Adjusted assets
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
  0.853
Average production assets, $m
  4,208
  4,668
  5,154
  5,662
  6,193
  6,746
  7,323
  7,922
  8,546
  9,194
  9,867
  10,567
  11,294
  12,050
  12,837
  13,655
  14,506
  15,393
  16,316
  17,279
  18,283
  19,331
  20,424
  21,566
  22,759
  24,006
  25,310
  26,673
  28,100
  29,593
  31,157
Working capital, $m
  -7,510
  16
  17
  19
  21
  23
  25
  27
  29
  31
  33
  35
  38
  40
  43
  46
  49
  52
  55
  58
  61
  65
  68
  72
  76
  80
  85
  89
  94
  99
  104
Total debt, $m
  8,388
  3,922
  4,494
  5,093
  5,718
  6,369
  7,048
  7,754
  8,488
  9,251
  10,044
  10,868
  11,725
  12,615
  13,541
  14,504
  15,507
  16,551
  17,639
  18,772
  19,955
  21,188
  22,476
  23,821
  25,225
  26,694
  28,229
  29,835
  31,515
  33,273
  35,114
Total liabilities, $m
  9,962
  5,497
  6,069
  6,668
  7,293
  7,944
  8,623
  9,329
  10,063
  10,826
  11,619
  12,443
  13,300
  14,190
  15,116
  16,079
  17,082
  18,126
  19,214
  20,347
  21,530
  22,763
  24,051
  25,396
  26,800
  28,269
  29,804
  31,410
  33,090
  34,848
  36,689
Total equity, $m
  -4,427
  611
  674
  741
  810
  883
  958
  1,037
  1,118
  1,203
  1,291
  1,383
  1,478
  1,577
  1,680
  1,787
  1,898
  2,014
  2,135
  2,261
  2,392
  2,529
  2,672
  2,822
  2,978
  3,141
  3,312
  3,490
  3,677
  3,872
  4,077
Total liabilities and equity, $m
  5,535
  6,108
  6,743
  7,409
  8,103
  8,827
  9,581
  10,366
  11,181
  12,029
  12,910
  13,826
  14,778
  15,767
  16,796
  17,866
  18,980
  20,140
  21,349
  22,608
  23,922
  25,292
  26,723
  28,218
  29,778
  31,410
  33,116
  34,900
  36,767
  38,720
  40,766
Debt-to-equity ratio
  -1.895
  6.420
  6.660
  6.870
  7.060
  7.220
  7.360
  7.480
  7.590
  7.690
  7.780
  7.860
  7.930
  8.000
  8.060
  8.120
  8.170
  8.220
  8.260
  8.300
  8.340
  8.380
  8.410
  8.440
  8.470
  8.500
  8.520
  8.550
  8.570
  8.590
  8.610
Adjusted equity ratio
  -0.810
  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
  121
  307
  796
  1,047
  1,310
  1,585
  1,872
  2,172
  2,485
  2,811
  3,152
  3,529
  3,898
  4,283
  4,685
  5,104
  5,542
  5,999
  6,476
  6,976
  7,498
  8,045
  8,618
  9,217
  9,846
  10,505
  11,197
  11,922
  12,684
  13,483
  14,322
Depreciation, amort., depletion, $m
  233
  271
  296
  322
  349
  377
  407
  437
  469
  503
  537
  542
  579
  618
  658
  700
  744
  789
  837
  886
  938
  991
  1,047
  1,106
  1,167
  1,231
  1,298
  1,368
  1,441
  1,518
  1,598
Funds from operations, $m
  720
  578
  1,092
  1,368
  1,658
  1,962
  2,279
  2,610
  2,955
  3,314
  3,689
  4,071
  4,477
  4,901
  5,343
  5,804
  6,286
  6,788
  7,313
  7,862
  8,436
  9,036
  9,665
  10,323
  11,013
  11,736
  12,495
  13,290
  14,125
  15,001
  15,920
Change in working capital, $m
  -185
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
Cash from operations, $m
  905
  576
  1,090
  1,367
  1,657
  1,960
  2,277
  2,608
  2,953
  3,312
  3,686
  4,068
  4,475
  4,899
  5,341
  5,802
  6,283
  6,785
  7,310
  7,859
  8,432
  9,033
  9,661
  10,320
  11,009
  11,732
  12,490
  13,285
  14,120
  14,996
  15,915
Maintenance CAPEX, $m
  0
  -216
  -239
  -264
  -290
  -318
  -346
  -376
  -406
  -438
  -471
  -506
  -542
  -579
  -618
  -658
  -700
  -744
  -789
  -837
  -886
  -938
  -991
  -1,047
  -1,106
  -1,167
  -1,231
  -1,298
  -1,368
  -1,441
  -1,518
New CAPEX, $m
  -81
  -460
  -486
  -508
  -531
  -553
  -576
  -600
  -623
  -648
  -673
  -700
  -727
  -756
  -786
  -818
  -851
  -887
  -924
  -963
  -1,004
  -1,048
  -1,093
  -1,142
  -1,193
  -1,247
  -1,304
  -1,364
  -1,427
  -1,493
  -1,563
Cash from investing activities, $m
  -85
  -676
  -725
  -772
  -821
  -871
  -922
  -976
  -1,029
  -1,086
  -1,144
  -1,206
  -1,269
  -1,335
  -1,404
  -1,476
  -1,551
  -1,631
  -1,713
  -1,800
  -1,890
  -1,986
  -2,084
  -2,189
  -2,299
  -2,414
  -2,535
  -2,662
  -2,795
  -2,934
  -3,081
Free cash flow, $m
  820
  -100
  365
  594
  836
  1,089
  1,355
  1,633
  1,923
  2,226
  2,542
  2,862
  3,206
  3,563
  3,936
  4,325
  4,731
  5,155
  5,597
  6,059
  6,542
  7,048
  7,576
  8,130
  8,710
  9,318
  9,955
  10,624
  11,325
  12,061
  12,834
Issuance/(repayment) of debt, $m
  -707
  -4,434
  572
  598
  625
  652
  679
  706
  734
  763
  793
  824
  856
  890
  926
  963
  1,003
  1,044
  1,088
  1,134
  1,182
  1,234
  1,288
  1,345
  1,405
  1,468
  1,535
  1,606
  1,680
  1,758
  1,841
Issuance/(repurchase) of shares, $m
  0
  4,731
  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  
  -780
  297
  572
  598
  625
  652
  679
  706
  734
  763
  793
  824
  856
  890
  926
  963
  1,003
  1,044
  1,088
  1,134
  1,182
  1,234
  1,288
  1,345
  1,405
  1,468
  1,535
  1,606
  1,680
  1,758
  1,841
Total cash flow (excl. dividends), $m
  10
  197
  937
  1,193
  1,461
  1,741
  2,033
  2,339
  2,657
  2,989
  3,335
  3,686
  4,062
  4,454
  4,862
  5,289
  5,734
  6,199
  6,685
  7,193
  7,725
  8,281
  8,864
  9,475
  10,115
  10,786
  11,491
  12,230
  13,005
  13,820
  14,675
Retained Cash Flow (-), $m
  -128
  -5,038
  -64
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -88
  -92
  -95
  -99
  -103
  -107
  -111
  -116
  -121
  -126
  -131
  -137
  -143
  -149
  -156
  -163
  -171
  -178
  -187
  -195
  -205
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
 
  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
 
  -4,841
  873
  1,126
  1,391
  1,668
  1,958
  2,260
  2,575
  2,904
  3,246
  3,595
  3,967
  4,355
  4,759
  5,182
  5,622
  6,083
  6,564
  7,067
  7,593
  8,144
  8,721
  9,325
  9,959
  10,623
  11,320
  12,051
  12,819
  13,624
  14,470
Discount rate, %
 
  14.20
  14.91
  15.66
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
  25.50
  26.78
  28.12
  29.52
  31.00
  32.55
  34.17
  35.88
  37.68
  39.56
  41.54
  43.62
  45.80
  48.09
  50.49
  53.02
  55.67
  58.45
PV of cash for distribution, $m
 
  -4,239
  661
  728
  757
  753
  721
  668
  600
  523
  443
  364
  292
  227
  172
  126
  90
  62
  41
  27
  16
  10
  6
  3
  2
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties. It has freight seaports in Russia on the Sea of Japan and on the Sea of Azov, and a freight river port on the Kama River.

FINANCIAL RATIOS  of  Mechel ADR (MTL)

Valuation Ratios
P/E Ratio 17.4
Price to Sales 0.4
Price to Book -0.5
Price to Tangible Book
Price to Cash Flow 2.3
Price to Free Cash Flow 2.6
Growth Rates
Sales Growth Rate 9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -8%
Cap. Spend. - 3 Yr. Gr. Rate -31.8%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity -18.8%
Total Debt to Equity -189.5%
Interest Coverage 1
Management Effectiveness
Return On Assets 8.9%
Ret/ On Assets - 3 Yr. Avg. -14.8%
Return On Total Capital 3%
Ret/ On T. Cap. - 3 Yr. Avg. -30.8%
Return On Equity -2.7%
Return On Equity - 3 Yr. Avg. 67.1%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 47%
Gross Margin - 3 Yr. Avg. 41.5%
EBITDA Margin 22.6%
EBITDA Margin - 3 Yr. Avg. -14%
Operating Margin 15.5%
Oper. Margin - 3 Yr. Avg. 8.5%
Pre-Tax Margin 5.1%
Pre-Tax Margin - 3 Yr. Avg. -30.3%
Net Profit Margin 2.6%
Net Profit Margin - 3 Yr. Avg. -32.4%
Effective Tax Rate 34.9%
Eff/ Tax Rate - 3 Yr. Avg. 11.3%
Payout Ratio 0%

MTL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MTL stock intrinsic value calculation we used $4694 million for the last fiscal year's total revenue generated by Mechel ADR. The default revenue input number comes from 2016 income statement of Mechel ADR. 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 MTL stock valuation model: a) initial revenue growth rate of 11% 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 14.2%, whose default value for MTL is calculated based on our internal credit rating of Mechel ADR, 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 Mechel ADR.
    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 MTL stock the variable cost ratio is equal to 18.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3173 million in the base year in the intrinsic value calculation for MTL 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 6.9% for Mechel ADR.

Corporate tax rate of 27% is the nominal tax rate for Mechel ADR. 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 MTL 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 MTL are equal to 89.6%.

Life of production assets of 19.5 years is the average useful life of capital assets used in Mechel ADR 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 MTL is equal to 0.3%. 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 - $-4427 million for Mechel ADR - 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 264.259 million for Mechel ADR 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 Mechel ADR at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
MT ArcelorMittal 35.03 6.07  str.sell
PKX POSCO ADR 83.74 25.41  str.sell
GGB Gerdau ADR 5.11 0.71  str.sell

COMPANY NEWS

▶ 5 Russia Stocks to Consider Buying   [Jan-23-18 07:06PM  Motley Fool]
▶ Mechel Reports New Management Appointment   [Jan-10-18 08:31AM  GlobeNewswire]
▶ Mechel says CFO to leave company   [07:35AM  Reuters]
▶ Mechel says CFO to leave company   [07:27AM  Reuters]
▶ Mechel Reports Change in Management   [06:30AM  GlobeNewswire]
▶ ETFs with exposure to Mechel PAO : December 28, 2017   [Dec-28-17 12:27PM  Capital Cube]
▶ Mechel Reports the 9M 2017 Financial Results   [04:00AM  GlobeNewswire]
▶ Mechel Reports 9M2017 Operational Results   [03:00AM  GlobeNewswire]
▶ Mechel Reports Reversal of Court Decision   [Nov-22-17 09:30AM  GlobeNewswire]
▶ ETFs with exposure to Mechel PAO : November 1, 2017   [Nov-01-17 12:26PM  Capital Cube]
▶ Mechel Reports Restructuring Debt With Vnesheconombank   [Sep-28-17 11:00AM  GlobeNewswire]
▶ ETFs with exposure to Mechel PAO : September 22, 2017   [Sep-22-17 11:15AM  Capital Cube]
▶ Mechel Reports Court Decisions Entry Into Force   [Sep-14-17 10:40AM  GlobeNewswire]
▶ Mechel Reports 1H2017 Operational Results   [06:00AM  GlobeNewswire]
▶ Mechel Reports the 1H 2017 Financial Results   [05:00AM  GlobeNewswire]
▶ Mechel Begins Development of Bulk Ingot Market   [Jul-20-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to Mechel PAO : June 22, 2017   [Jun-22-17 04:02PM  Capital Cube]
▶ Why Mechel PAO Stock Just Jumped 10%   [12:12PM  Motley Fool]
▶ Mechel Reports the 1Q 2017 Financial Results   [06:00AM  GlobeNewswire]
▶ Mechel Reports 1Q2017 Operational Results   [04:00AM  GlobeNewswire]
▶ ETFs with exposure to Mechel PAO : May 25, 2017   [May-25-17 12:44PM  Capital Cube]
▶ ETFs with exposure to Mechel PAO : May 11, 2017   [May-11-17 05:10PM  Capital Cube]
▶ Why Mechel PAO Shares Jumped 13% in April   [May-03-17 01:51PM  Motley Fool]
▶ Why Mechel PAO's Shares Popped 14% Today   [Apr-27-17 01:09PM  Motley Fool]
▶ Mechel Reports the 2016 Financial Results   [06:34AM  GlobeNewswire]
▶ Trade Port Posiet Named 2016 Best Stevedore Company   [Apr-03-17 08:30AM  GlobeNewswire]
▶ Mechel Reports Launch of New Longwall at Southern Kuzbass   [Mar-13-17 07:00AM  GlobeNewswire]
▶ Yakutugol Launches Open Mining at Dzhebariki-Khaya   [Mar-09-17 07:30AM  GlobeNewswire]
▶ Why Mechel OAO Stock Collapsed 20% in February   [Mar-07-17 08:09AM  Motley Fool]
▶ 2 Experts: Why Russian Ruble May Weaken   [Mar-06-17 04:13PM  Barrons.com]
▶ Russia's Mechel says Q4 steel output up 10 pct q/q   [Feb-13-17 08:37AM  Reuters]
▶ Mechel Reports 2016 Operational Results   [08:30AM  GlobeNewswire]
▶ The Best Mining Stocks of 2016   [Jan-08-17 09:44AM  at Motley Fool]
▶ Mechel Has Completed Restructuring With Russian State Banks   [Dec-26-16 06:07AM  GlobeNewswire]
▶ Mechel Increases Exports of Elga Coal   [08:00AM  GlobeNewswire]
▶ Is Seabridge Gold, Inc. (USA) (SA) A Good Stock To Buy?   [Dec-17-16 03:45PM  at Insider Monkey]
▶ Why Is Mechel PAO Stock Up a Red Hot 20% Today?   [Dec-12-16 12:18PM  at Motley Fool]
▶ Hedge Funds Are Still Buying Novanta Inc (USA) (NOVT)   [Dec-06-16 08:06PM  at Insider Monkey]
▶ Mechel Reports 9M2016 Operational Results   [04:30AM  GlobeNewswire]
▶ Mechel Reports the 9M 2016 Financial Results   [04:00AM  GlobeNewswire]
▶ Why Is Mechel PAO Stock Up a Red-Hot 19% Today?   [Nov-14-16 01:14PM  at Motley Fool]
▶ Why Mechel PAO's Stock Rocketed 36% Higher in September   [Oct-11-16 08:58AM  at Motley Fool]
▶ Mechel Reports the 1H 2016 Financial Results   [03:00AM  GlobeNewswire]
Financial statements of MTL
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.