Intrinsic value of MTS Systems - MTSC

Previous Close

$46.80

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$46.80

 
Intrinsic value

$32.76

 
Up/down potential

-30%

 
Rating

sell

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

*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 2015), $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 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2015(a)
   2016
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  0.00
  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
  564
  575
  589
  604
  621
  639
  660
  683
  707
  733
  761
  791
  823
  858
  894
  933
  973
  1,017
  1,062
  1,111
  1,162
  1,216
  1,272
  1,332
  1,395
  1,462
  1,532
  1,605
  1,683
  1,764
  1,850
Variable operating expenses, $m
 
  514
  526
  539
  555
  571
  590
  610
  631
  655
  680
  704
  732
  762
  795
  829
  865
  904
  945
  988
  1,033
  1,081
  1,131
  1,184
  1,241
  1,300
  1,362
  1,427
  1,496
  1,569
  1,645
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
  502
  514
  526
  539
  555
  571
  590
  610
  631
  655
  680
  704
  732
  762
  795
  829
  865
  904
  945
  988
  1,033
  1,081
  1,131
  1,184
  1,241
  1,300
  1,362
  1,427
  1,496
  1,569
  1,645
Operating income, $m
  62
  61
  63
  64
  66
  68
  70
  73
  76
  79
  82
  88
  91
  95
  99
  103
  108
  113
  118
  123
  129
  135
  141
  148
  155
  162
  170
  178
  187
  196
  205
EBITDA, $m
  83
  81
  83
  85
  87
  90
  93
  96
  99
  103
  107
  111
  116
  120
  126
  131
  137
  143
  149
  156
  163
  171
  179
  187
  196
  205
  215
  226
  236
  248
  260
Interest expense (income), $m
  1
  0
  0
  0
  0
  1
  1
  1
  1
  2
  2
  2
  3
  3
  3
  4
  4
  5
  5
  6
  6
  7
  7
  8
  9
  9
  10
  11
  12
  13
  14
Earnings before tax, $m
  59
  61
  62
  64
  66
  68
  70
  72
  74
  77
  80
  86
  89
  92
  96
  100
  104
  108
  113
  118
  123
  128
  134
  140
  146
  153
  160
  167
  175
  183
  192
Tax expense, $m
  14
  16
  17
  17
  18
  18
  19
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  30
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  49
  52
Net income, $m
  45
  45
  46
  47
  48
  49
  51
  52
  54
  56
  58
  62
  65
  67
  70
  73
  76
  79
  82
  86
  90
  94
  98
  102
  107
  112
  117
  122
  128
  134
  140

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  52
  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
  461
  417
  427
  438
  450
  464
  479
  495
  513
  532
  552
  574
  597
  622
  648
  676
  706
  737
  770
  805
  843
  882
  923
  966
  1,012
  1,060
  1,111
  1,164
  1,220
  1,279
  1,342
Adjusted assets (=assets-cash), $m
  409
  417
  427
  438
  450
  464
  479
  495
  513
  532
  552
  574
  597
  622
  648
  676
  706
  737
  770
  805
  843
  882
  923
  966
  1,012
  1,060
  1,111
  1,164
  1,220
  1,279
  1,342
Revenue / Adjusted assets
  1.379
  1.379
  1.379
  1.379
  1.380
  1.377
  1.378
  1.380
  1.378
  1.378
  1.379
  1.378
  1.379
  1.379
  1.380
  1.380
  1.378
  1.380
  1.379
  1.380
  1.378
  1.379
  1.378
  1.379
  1.378
  1.379
  1.379
  1.379
  1.380
  1.379
  1.379
Average production assets, $m
  102
  104
  106
  109
  112
  115
  119
  123
  127
  132
  137
  142
  148
  154
  161
  168
  175
  183
  191
  200
  209
  219
  229
  240
  251
  263
  276
  289
  303
  318
  333
Working capital, $m
  151
  123
  125
  129
  132
  136
  141
  145
  151
  156
  162
  169
  175
  183
  190
  199
  207
  217
  226
  237
  247
  259
  271
  284
  297
  311
  326
  342
  358
  376
  394
Total debt, $m
  21
  4
  8
  13
  18
  24
  31
  38
  46
  55
  64
  73
  84
  95
  106
  119
  132
  146
  161
  176
  193
  210
  229
  248
  268
  290
  312
  336
  361
  387
  415
Total liabilities, $m
  203
  186
  190
  195
  200
  206
  213
  220
  228
  237
  246
  255
  266
  277
  288
  301
  314
  328
  343
  358
  375
  392
  411
  430
  450
  472
  494
  518
  543
  569
  597
Total equity, $m
  258
  232
  237
  243
  250
  257
  266
  275
  284
  295
  306
  318
  331
  345
  360
  375
  392
  409
  428
  447
  468
  489
  512
  536
  562
  588
  616
  646
  677
  710
  745
Total liabilities and equity, $m
  461
  418
  427
  438
  450
  463
  479
  495
  512
  532
  552
  573
  597
  622
  648
  676
  706
  737
  771
  805
  843
  881
  923
  966
  1,012
  1,060
  1,110
  1,164
  1,220
  1,279
  1,342
Debt-to-equity ratio
  0.081
  0.020
  0.030
  0.050
  0.070
  0.090
  0.120
  0.140
  0.160
  0.180
  0.210
  0.230
  0.250
  0.270
  0.300
  0.320
  0.340
  0.360
  0.380
  0.390
  0.410
  0.430
  0.450
  0.460
  0.480
  0.490
  0.510
  0.520
  0.530
  0.550
  0.560
Adjusted equity ratio
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555
  0.555

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  45
  45
  46
  47
  48
  49
  51
  52
  54
  56
  58
  62
  65
  67
  70
  73
  76
  79
  82
  86
  90
  94
  98
  102
  107
  112
  117
  122
  128
  134
  140
Depreciation, amort., depletion, $m
  21
  20
  20
  21
  21
  22
  22
  23
  24
  24
  25
  23
  24
  25
  26
  28
  29
  30
  31
  33
  34
  36
  38
  39
  41
  43
  45
  47
  50
  52
  55
Funds from operations, $m
  125
  64
  66
  67
  69
  71
  73
  75
  78
  81
  83
  86
  89
  93
  96
  100
  105
  109
  114
  119
  124
  129
  135
  141
  148
  155
  162
  169
  177
  186
  195
Change in working capital, $m
  25
  2
  3
  3
  4
  4
  4
  5
  5
  6
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  16
  17
  17
  18
Cash from operations, $m
  100
  60
  63
  64
  65
  67
  69
  71
  73
  75
  77
  79
  82
  85
  89
  92
  96
  100
  104
  108
  113
  118
  123
  129
  134
  141
  147
  154
  161
  168
  176
Maintenance CAPEX, $m
  0
  -17
  -17
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -31
  -33
  -34
  -36
  -38
  -39
  -41
  -43
  -45
  -47
  -50
  -52
New CAPEX, $m
  -18
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -15
Cash from investing activities, $m
  -19
  -19
  -19
  -20
  -21
  -21
  -23
  -23
  -24
  -26
  -27
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -49
  -50
  -53
  -56
  -58
  -61
  -65
  -67
Free cash flow, $m
  81
  42
  44
  44
  45
  45
  46
  47
  48
  49
  51
  52
  53
  55
  57
  59
  61
  63
  66
  68
  71
  74
  77
  80
  84
  87
  91
  95
  100
  104
  109
Issuance/(repayment) of debt, $m
  -39
  4
  4
  5
  5
  6
  7
  7
  8
  8
  9
  10
  10
  11
  12
  12
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
Issuance/(repurchase) of shares, $m
  -24
  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 financing (excl. dividends), $m  
  -63
  4
  4
  5
  5
  6
  7
  7
  8
  8
  9
  10
  10
  11
  12
  12
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
Total cash flow (excl. dividends), $m
  13
  45
  48
  49
  50
  51
  53
  54
  56
  58
  60
  61
  64
  66
  69
  71
  74
  77
  80
  84
  88
  91
  95
  100
  104
  109
  114
  119
  125
  130
  136
Retained Cash Flow (-), $m
  0
  -5
  -5
  -6
  -7
  -8
  -8
  -9
  -10
  -11
  -11
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -35
Prev. year cash balance distribution, $m
 
  31
  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
 
  72
  42
  43
  43
  44
  44
  45
  46
  47
  49
  49
  51
  52
  54
  56
  58
  60
  62
  64
  67
  70
  73
  76
  79
  82
  86
  89
  93
  98
  102
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
 
  69
  39
  37
  36
  34
  32
  31
  29
  27
  25
  23
  22
  20
  18
  16
  15
  13
  11
  10
  9
  7
  6
  5
  4
  3
  2
  2
  1
  1
  1
Current shareholders' claim on cash, %
  100
  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
  100.0

MTS Systems Corporation supplies test systems and position sensors in the Americas, Europe, and Asia. The company operates in two segments, Test and Sensors. The Test segment provides testing solutions, including road simulators for durability simulation; tire performance and rolling resistance measurement systems; moving road-plane systems and balances for aerodynamics measurements in wind tunnels; systems for the physical characterization of materials, such as ceramics, composites, and steel; and systems to test durability and performance of implants, prostheses, and other medical and dental materials and devices. This segment also offers products, systems, and software to perform static and fatigue testing of aircraft and space vehicles; systems for structural engineering, including high force static and dynamic testing; and seismic simulation tables to test the designs of structures and establish building codes. In addition, it provides installation, calibration, maintenance, training, and consulting services, as well as various accessories and spare parts. This segment serves automobile, truck, motorcycle, motorsports vehicle, construction equipment, agricultural equipment, rail, and off-road vehicle manufacturers and their suppliers, as well as power generation, aerospace, bio-medical, wind energy, oil and gas, structural engineering, and other industries. The Sensors segment manufactures products utilizing magnetostriction technology for manufacturers of plastic injection molding machines, steel mills, fluid power, oil and gas, medical, wood product processing equipment, mobile equipment, and energy industries. It also offers products to measure fluid displacement for customers in the process industries. The company sells its products through direct sales organization, and independent representatives and distributors, as well as through catalogs, Internet, etc. MTS Systems Corporation was founded in 1966 and is headquartered in Eden Prairie, Minnesota.

FINANCIAL RATIOS  of  MTS Systems (MTSC)

Valuation Ratios
P/E Ratio 15.5
Price to Sales 1.2
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 7
Price to Free Cash Flow 8.5
Growth Rates
Sales Growth Rate 0%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -10%
Cap. Spend. - 3 Yr. Gr. Rate 2.4%
Financial Strength
Quick Ratio 2
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 8.1%
Interest Coverage 60
Management Effectiveness
Return On Assets 9.7%
Ret/ On Assets - 3 Yr. Avg. 10.8%
Return On Total Capital 15.1%
Ret/ On T. Cap. - 3 Yr. Avg. 17.1%
Return On Equity 17.4%
Return On Equity - 3 Yr. Avg. 19.2%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 39%
Gross Margin - 3 Yr. Avg. 39.8%
EBITDA Margin 14.4%
EBITDA Margin - 3 Yr. Avg. 15%
Operating Margin 11%
Oper. Margin - 3 Yr. Avg. 11.9%
Pre-Tax Margin 10.5%
Pre-Tax Margin - 3 Yr. Avg. 11.5%
Net Profit Margin 8%
Net Profit Margin - 3 Yr. Avg. 8.5%
Effective Tax Rate 23.7%
Eff/ Tax Rate - 3 Yr. Avg. 26%
Payout Ratio 48.9%

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 $564 million for the last fiscal year's total revenue generated by MTS Systems. The default revenue input number comes from 2015 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 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 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 89.4%.

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 18%.

Life of production assets of 6.1 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 21.3%. 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 - $258 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 16.797 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 $0.8 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
PRCP Perceptron 8.04 0.83  str.sell
EMR Emerson Electr 61.22 43.54  sell
FTV Fortive 62.33 45.32  sell
DOV Dover 81.27 85.57  hold
ITW Illinois Tool 139.26 91.16  sell
HON Honeywell Inte 129.30 126.70  hold
PH Parker Hannifi 165.22 121.74  sell

COMPANY NEWS

▶ 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]
▶ MTS Systems to Present at InvestMNt 2016 Conference   [Aug-11-16 04:05PM  PR Newswire]
▶ MTS posts 3Q profit   [Aug-08-16 05:41PM  AP]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [Jul-28-16 04:05PM  PR Newswire]
▶ MTS Systems to Present at J.P. Morgan Auto Conference   [Jul-27-16 04:05PM  PR Newswire]
▶ MTS Announces Declaration of Quarterly Cash Dividend   [May-24-16 04:05PM  PR Newswire]
▶ MTS posts 2Q profit   [May-10-16 05:58PM  AP]
▶ ETFs with exposure to MTS Systems Corp. : April 21, 2016   [Apr-21-16 05:30PM  at Capital Cube]
Stock chart of MTSC 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.