Intrinsic value of MTS Systems - MTSC

Previous Close

$50.55

  Intrinsic Value

$107.31

stock screener

  Rating & Target

str. buy

+112%

  Value-price divergence*

+236%

Previous close

$50.55

 
Intrinsic value

$107.31

 
Up/down potential

+112%

 
Rating

str. buy

 
Value-price divergence*

+236%

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

We calculate the intrinsic value of MTSC 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 0.9

 

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, %
  15.25
  22.80
  21.02
  19.42
  17.98
  16.68
  15.51
  14.46
  13.51
  12.66
  11.90
  11.21
  10.59
  10.03
  9.52
  9.07
  8.66
  8.30
  7.97
  7.67
  7.40
  7.16
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.04
  5.93
  5.84
Revenue, $m
  650
  798
  966
  1,154
  1,361
  1,588
  1,834
  2,099
  2,383
  2,685
  3,004
  3,341
  3,695
  4,065
  4,452
  4,856
  5,277
  5,715
  6,170
  6,644
  7,136
  7,647
  8,178
  8,730
  9,305
  9,902
  10,523
  11,171
  11,845
  12,547
  13,280
Variable operating expenses, $m
 
  703
  843
  999
  1,172
  1,361
  1,567
  1,788
  2,025
  2,276
  2,543
  2,787
  3,082
  3,391
  3,714
  4,050
  4,401
  4,767
  5,146
  5,541
  5,952
  6,378
  6,821
  7,282
  7,761
  8,259
  8,777
  9,317
  9,880
  10,466
  11,077
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
  608
  703
  843
  999
  1,172
  1,361
  1,567
  1,788
  2,025
  2,276
  2,543
  2,787
  3,082
  3,391
  3,714
  4,050
  4,401
  4,767
  5,146
  5,541
  5,952
  6,378
  6,821
  7,282
  7,761
  8,259
  8,777
  9,317
  9,880
  10,466
  11,077
Operating income, $m
  42
  95
  123
  154
  189
  226
  267
  311
  358
  408
  461
  554
  613
  674
  739
  806
  876
  948
  1,024
  1,102
  1,184
  1,269
  1,357
  1,449
  1,544
  1,643
  1,746
  1,853
  1,965
  2,082
  2,203
EBITDA, $m
  66
  148
  180
  214
  253
  295
  341
  390
  443
  499
  559
  621
  687
  756
  828
  903
  981
  1,063
  1,147
  1,235
  1,327
  1,422
  1,520
  1,623
  1,730
  1,841
  1,957
  2,077
  2,202
  2,333
  2,469
Interest expense (income), $m
  1
  16
  22
  29
  37
  46
  55
  65
  76
  88
  101
  114
  128
  143
  158
  174
  191
  209
  227
  246
  266
  286
  307
  330
  353
  376
  401
  427
  454
  482
  512
Earnings before tax, $m
  34
  80
  101
  125
  152
  181
  212
  246
  282
  320
  361
  440
  485
  532
  581
  631
  684
  740
  797
  856
  918
  983
  1,050
  1,119
  1,191
  1,266
  1,345
  1,426
  1,511
  1,600
  1,692
Tax expense, $m
  7
  21
  27
  34
  41
  49
  57
  66
  76
  86
  97
  119
  131
  144
  157
  170
  185
  200
  215
  231
  248
  265
  283
  302
  322
  342
  363
  385
  408
  432
  457
Net income, $m
  27
  58
  74
  91
  111
  132
  155
  180
  206
  234
  263
  321
  354
  388
  424
  461
  500
  540
  582
  625
  670
  717
  766
  817
  870
  925
  982
  1,041
  1,103
  1,168
  1,235

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  85
  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
  1,188
  1,355
  1,640
  1,958
  2,311
  2,696
  3,114
  3,564
  4,046
  4,558
  5,101
  5,672
  6,273
  6,902
  7,559
  8,245
  8,959
  9,703
  10,476
  11,280
  12,115
  12,983
  13,885
  14,822
  15,797
  16,811
  17,867
  18,965
  20,110
  21,303
  22,547
Adjusted assets (=assets-cash), $m
  1,103
  1,355
  1,640
  1,958
  2,311
  2,696
  3,114
  3,564
  4,046
  4,558
  5,101
  5,672
  6,273
  6,902
  7,559
  8,245
  8,959
  9,703
  10,476
  11,280
  12,115
  12,983
  13,885
  14,822
  15,797
  16,811
  17,867
  18,965
  20,110
  21,303
  22,547
Revenue / Adjusted assets
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
Average production assets, $m
  234
  287
  348
  415
  490
  572
  660
  756
  858
  967
  1,082
  1,203
  1,330
  1,463
  1,603
  1,748
  1,900
  2,057
  2,221
  2,392
  2,569
  2,753
  2,944
  3,143
  3,350
  3,565
  3,788
  4,021
  4,264
  4,517
  4,781
Working capital, $m
  224
  183
  221
  264
  312
  364
  420
  481
  546
  615
  688
  765
  846
  931
  1,020
  1,112
  1,208
  1,309
  1,413
  1,521
  1,634
  1,751
  1,873
  1,999
  2,131
  2,268
  2,410
  2,558
  2,712
  2,873
  3,041
Total debt, $m
  465
  632
  832
  1,055
  1,302
  1,572
  1,865
  2,181
  2,518
  2,877
  3,258
  3,658
  4,079
  4,520
  4,981
  5,462
  5,962
  6,484
  7,026
  7,589
  8,174
  8,783
  9,415
  10,072
  10,756
  11,467
  12,207
  12,977
  13,779
  14,615
  15,487
Total liabilities, $m
  783
  950
  1,150
  1,373
  1,620
  1,890
  2,183
  2,499
  2,836
  3,195
  3,576
  3,976
  4,397
  4,838
  5,299
  5,780
  6,280
  6,802
  7,344
  7,907
  8,492
  9,101
  9,733
  10,390
  11,074
  11,785
  12,525
  13,295
  14,097
  14,933
  15,805
Total equity, $m
  405
  405
  490
  586
  691
  806
  931
  1,066
  1,210
  1,363
  1,525
  1,696
  1,876
  2,064
  2,260
  2,465
  2,679
  2,901
  3,132
  3,373
  3,622
  3,882
  4,151
  4,432
  4,723
  5,027
  5,342
  5,671
  6,013
  6,370
  6,741
Total liabilities and equity, $m
  1,188
  1,355
  1,640
  1,959
  2,311
  2,696
  3,114
  3,565
  4,046
  4,558
  5,101
  5,672
  6,273
  6,902
  7,559
  8,245
  8,959
  9,703
  10,476
  11,280
  12,114
  12,983
  13,884
  14,822
  15,797
  16,812
  17,867
  18,966
  20,110
  21,303
  22,546
Debt-to-equity ratio
  1.148
  1.560
  1.700
  1.800
  1.880
  1.950
  2.000
  2.050
  2.080
  2.110
  2.140
  2.160
  2.170
  2.190
  2.200
  2.220
  2.230
  2.230
  2.240
  2.250
  2.260
  2.260
  2.270
  2.270
  2.280
  2.280
  2.280
  2.290
  2.290
  2.290
  2.300
Adjusted equity ratio
  0.290
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  27
  58
  74
  91
  111
  132
  155
  180
  206
  234
  263
  321
  354
  388
  424
  461
  500
  540
  582
  625
  670
  717
  766
  817
  870
  925
  982
  1,041
  1,103
  1,168
  1,235
Depreciation, amort., depletion, $m
  24
  53
  56
  60
  64
  69
  74
  79
  85
  91
  97
  67
  74
  81
  89
  97
  106
  114
  123
  133
  143
  153
  164
  175
  186
  198
  210
  223
  237
  251
  266
Funds from operations, $m
  71
  111
  130
  152
  175
  201
  229
  259
  291
  325
  360
  388
  428
  469
  513
  558
  605
  654
  705
  758
  813
  870
  930
  991
  1,056
  1,123
  1,192
  1,265
  1,340
  1,419
  1,501
Change in working capital, $m
  3
  34
  38
  43
  47
  52
  56
  61
  65
  69
  73
  77
  81
  85
  89
  92
  96
  100
  104
  108
  113
  117
  122
  126
  132
  137
  142
  148
  154
  161
  168
Cash from operations, $m
  68
  77
  92
  109
  128
  149
  172
  198
  226
  255
  287
  311
  347
  385
  424
  466
  509
  554
  601
  650
  700
  753
  808
  865
  924
  986
  1,050
  1,116
  1,186
  1,258
  1,333
Maintenance CAPEX, $m
  0
  -13
  -16
  -19
  -23
  -27
  -32
  -37
  -42
  -48
  -54
  -60
  -67
  -74
  -81
  -89
  -97
  -106
  -114
  -123
  -133
  -143
  -153
  -164
  -175
  -186
  -198
  -210
  -223
  -237
  -251
New CAPEX, $m
  -21
  -53
  -60
  -68
  -75
  -82
  -89
  -95
  -102
  -109
  -115
  -121
  -127
  -133
  -139
  -145
  -151
  -158
  -164
  -170
  -177
  -184
  -191
  -199
  -207
  -215
  -224
  -233
  -243
  -253
  -264
Cash from investing activities, $m
  -600
  -66
  -76
  -87
  -98
  -109
  -121
  -132
  -144
  -157
  -169
  -181
  -194
  -207
  -220
  -234
  -248
  -264
  -278
  -293
  -310
  -327
  -344
  -363
  -382
  -401
  -422
  -443
  -466
  -490
  -515
Free cash flow, $m
  -532
  11
  15
  22
  30
  40
  52
  66
  81
  99
  119
  130
  153
  177
  203
  231
  260
  291
  323
  356
  390
  426
  464
  503
  543
  585
  628
  673
  720
  768
  818
Issuance/(repayment) of debt, $m
  464
  177
  200
  223
  247
  270
  293
  316
  338
  359
  380
  401
  421
  441
  461
  481
  501
  521
  542
  563
  585
  608
  632
  657
  683
  711
  740
  770
  802
  836
  872
Issuance/(repurchase) of shares, $m
  144
  17
  11
  4
  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  
  578
  194
  211
  227
  247
  270
  293
  316
  338
  359
  380
  401
  421
  441
  461
  481
  501
  521
  542
  563
  585
  608
  632
  657
  683
  711
  740
  770
  802
  836
  872
Total cash flow (excl. dividends), $m
  47
  205
  226
  249
  277
  310
  345
  381
  419
  458
  499
  531
  574
  618
  664
  712
  761
  812
  865
  919
  976
  1,035
  1,096
  1,160
  1,226
  1,296
  1,368
  1,443
  1,522
  1,604
  1,690
Retained Cash Flow (-), $m
  -147
  -75
  -85
  -95
  -105
  -115
  -125
  -135
  -144
  -153
  -162
  -171
  -180
  -188
  -197
  -205
  -214
  -222
  -231
  -240
  -250
  -260
  -270
  -280
  -292
  -303
  -316
  -329
  -342
  -357
  -372
Prev. year cash balance distribution, $m
 
  75
  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
 
  205
  141
  154
  171
  195
  220
  247
  275
  305
  337
  360
  394
  430
  468
  507
  547
  590
  633
  679
  726
  775
  826
  880
  935
  992
  1,052
  1,115
  1,180
  1,247
  1,318
Discount rate, %
 
  7.70
  8.09
  8.49
  8.91
  9.36
  9.83
  10.32
  10.83
  11.38
  11.95
  12.54
  13.17
  13.83
  14.52
  15.25
  16.01
  16.81
  17.65
  18.53
  19.46
  20.43
  21.45
  22.52
  23.65
  24.83
  26.07
  27.38
  28.75
  30.18
  31.69
PV of cash for distribution, $m
 
  190
  121
  120
  122
  125
  125
  124
  121
  116
  109
  98
  89
  80
  70
  60
  51
  42
  34
  27
  21
  16
  11
  8
  6
  4
  3
  2
  1
  1
  0
Current shareholders' claim on cash, %
  100
  97.6
  96.3
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0
  96.0

MTS Systems Corporation is a supplier of test systems and position sensors. The Company operates through two segments: Test and Sensors. The Test segment provides testing solutions, including hardware, software and services to ground vehicles, materials and structures markets. The Sensors segment provides position sensors for a range of industrial and mobile hydraulic applications. The Sensors segment products are used by industrial machinery and mobile equipment manufacturers to automate the operation of their products for safety and end-user productivity. The Sensors segment manufactures products utilizing magnetostriction technology. Its technology, Temposonics, offers non-contact position sensing. Its Temposonics sensors provide position feedback for motion control systems. It also provides various service offerings, including calibration, maintenance, training and consulting. The Company has its manufacturing facilities in North America, Europe and Asia.

FINANCIAL RATIOS  of  MTS Systems (MTSC)

Valuation Ratios
P/E Ratio 31.2
Price to Sales 1.3
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 12.4
Price to Free Cash Flow 17.9
Growth Rates
Sales Growth Rate 15.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 16.7%
Cap. Spend. - 3 Yr. Gr. Rate -6.9%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 112.3%
Total Debt to Equity 114.8%
Interest Coverage 35
Management Effectiveness
Return On Assets 3.4%
Ret/ On Assets - 3 Yr. Avg. 7.4%
Return On Total Capital 4.7%
Ret/ On T. Cap. - 3 Yr. Avg. 11.2%
Return On Equity 8.1%
Return On Equity - 3 Yr. Avg. 14%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 35.5%
Gross Margin - 3 Yr. Avg. 38.1%
EBITDA Margin 9.1%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 6.5%
Oper. Margin - 3 Yr. Avg. 9.4%
Pre-Tax Margin 5.2%
Pre-Tax Margin - 3 Yr. Avg. 8.7%
Net Profit Margin 4.2%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 20.6%
Eff/ Tax Rate - 3 Yr. Avg. 24%
Payout Ratio 51.9%

MTSC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MTSC stock intrinsic value calculation we used $650 million for the last fiscal year's total revenue generated by MTS Systems. The default revenue input number comes from 2016 income statement of MTS Systems. 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 MTSC stock valuation model: a) initial revenue growth rate of 22.8% 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 7.7%, whose default value for MTSC is calculated based on our internal credit rating of MTS Systems, 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 MTS Systems.
    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 MTSC stock the variable cost ratio is equal to 89.1%.

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 MTSC 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 MTS Systems.

Corporate tax rate of 27% is the nominal tax rate for MTS Systems. 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 MTSC 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 MTSC are equal to 36%.

Life of production assets of 18 years is the average useful life of capital assets used in MTS Systems 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 MTSC is equal to 22.9%. 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 - $405 million for MTS Systems - 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 16.992 million for MTS Systems 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 MTS Systems at the current share price and the inputted number of shares is $0.9 billion.

RELATED COMPANIES Price Int.Val. Rating
PRCP Perceptron 7.99 1.48  str.sell
ITW Illinois Tool 145.64 96.16  sell
FARO FARO Technolog 36.35 11.50  str.sell
OSIS OSI Systems 84.27 32.42  str.sell
GEOS Geospace Techn 16.82 4.53  str.sell

COMPANY NEWS

▶ MTS Systems to Present at Intellisight 2017 Conference   [Aug-09-17 04:05PM  PR Newswire]
▶ MTS beats 3Q profit forecasts   [Aug-07-17 11:59PM  Associated Press]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [Jul-31-17 04:05PM  PR Newswire]
▶ ETFs with exposure to MTS Systems Corp. : July 24, 2017   [Jul-24-17 05:27PM  Capital Cube]
▶ ETFs with exposure to MTS Systems Corp. : July 14, 2017   [Jul-14-17 03:43PM  Capital Cube]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [Jun-07-17 04:05PM  PR Newswire]
▶ ETFs with exposure to MTS Systems Corp. : May 25, 2017   [May-25-17 12:44PM  Capital Cube]
▶ MTS beats Street 2Q forecasts   [May-08-17 04:32PM  Associated Press]
▶ MTS Systems CEO Jeffrey Graves pay up $1M, new CFO announced   [Apr-25-17 12:40PM  American City Business Journals]
▶ MTS Systems Announces Chief Financial Officer Transition   [Apr-24-17 04:05PM  PR Newswire]
▶ Should You Get Rid of MTS Systems (MTSC) Now?   [Apr-18-17 08:38AM  Zacks]
▶ ETFs with exposure to MTS Systems Corp. : April 17, 2017   [Apr-17-17 01:00PM  Capital Cube]
▶ Stocks to Watch: RetailMeNot, United Continental, Hub Group   [09:44AM  The Wall Street Journal]
▶ MTS posts 1Q profit   [Apr-10-17 04:21PM  Associated Press]
▶ Mairs & Power Comments on MTS Systems   [Mar-16-17 01:55PM  GuruFocus.com]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [Feb-06-17 04:30PM  PR Newswire]
▶ Should You Avoid MTS Systems Corporation (MTSC)?   [Dec-08-16 08:35AM  at Insider Monkey]
▶ MTS investigates China executives; delays Q4 report   [Nov-29-16 12:00PM  at bizjournals.com]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [Nov-15-16 04:05PM  PR Newswire]
Financial statements of MTSC
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.