Intrinsic value of Navistar International - NAV

Previous Close

$30.35

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

  Value-price divergence*

0%

Previous close

$30.35

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

 
Value-price divergence*

0%

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

We calculate the intrinsic value of NAV 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 2.4

 

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, %
  -20.01
  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
  8,111
  8,273
  8,464
  8,681
  8,925
  9,196
  9,493
  9,816
  10,166
  10,543
  10,948
  11,380
  11,842
  12,334
  12,857
  13,411
  13,999
  14,621
  15,279
  15,974
  16,708
  17,483
  18,299
  19,160
  20,067
  21,023
  22,029
  23,087
  24,201
  25,374
  26,606
Variable operating expenses, $m
 
  8,091
  8,277
  8,490
  8,728
  8,993
  9,283
  9,599
  9,941
  10,310
  10,705
  11,125
  11,576
  12,057
  12,568
  13,110
  13,685
  14,293
  14,936
  15,615
  16,333
  17,090
  17,888
  18,730
  19,617
  20,550
  21,534
  22,569
  23,658
  24,803
  26,009
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
  7,822
  8,091
  8,277
  8,490
  8,728
  8,993
  9,283
  9,599
  9,941
  10,310
  10,705
  11,125
  11,576
  12,057
  12,568
  13,110
  13,685
  14,293
  14,936
  15,615
  16,333
  17,090
  17,888
  18,730
  19,617
  20,550
  21,534
  22,569
  23,658
  24,803
  26,009
Operating income, $m
  289
  182
  186
  191
  197
  203
  209
  217
  225
  233
  242
  256
  266
  277
  289
  301
  315
  329
  343
  359
  375
  393
  411
  431
  451
  472
  495
  519
  544
  570
  598
EBITDA, $m
  514
  323
  331
  339
  349
  359
  371
  383
  397
  412
  428
  445
  463
  482
  502
  524
  547
  571
  597
  624
  653
  683
  715
  749
  784
  821
  861
  902
  946
  991
  1,039
Interest expense (income), $m
  291
  280
  -49
  -42
  -34
  -26
  -16
  -5
  6
  19
  32
  47
  62
  79
  96
  115
  135
  156
  178
  202
  226
  253
  280
  310
  340
  373
  407
  443
  481
  521
  562
Earnings before tax, $m
  -32
  -97
  235
  233
  231
  228
  225
  222
  218
  214
  210
  209
  204
  198
  193
  186
  180
  173
  165
  157
  149
  140
  131
  121
  111
  100
  88
  76
  63
  50
  35
Tax expense, $m
  33
  0
  64
  63
  62
  62
  61
  60
  59
  58
  57
  56
  55
  54
  52
  50
  49
  47
  45
  42
  40
  38
  35
  33
  30
  27
  24
  20
  17
  13
  10
Net income, $m
  -97
  -97
  172
  170
  169
  167
  165
  162
  159
  156
  153
  153
  149
  145
  141
  136
  131
  126
  121
  115
  109
  102
  96
  88
  81
  73
  64
  55
  46
  36
  26

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  850
  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
  5,653
  5,765
  5,898
  6,049
  6,220
  6,408
  6,615
  6,840
  7,084
  7,347
  7,629
  7,931
  8,252
  8,595
  8,959
  9,346
  9,755
  10,189
  10,647
  11,132
  11,643
  12,183
  12,752
  13,352
  13,984
  14,650
  15,351
  16,089
  16,865
  17,682
  18,541
Adjusted assets (=assets-cash), $m
  4,803
  5,765
  5,898
  6,049
  6,220
  6,408
  6,615
  6,840
  7,084
  7,347
  7,629
  7,931
  8,252
  8,595
  8,959
  9,346
  9,755
  10,189
  10,647
  11,132
  11,643
  12,183
  12,752
  13,352
  13,984
  14,650
  15,351
  16,089
  16,865
  17,682
  18,541
Revenue / Adjusted assets
  1.689
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
  1.435
Average production assets, $m
  1,348
  1,373
  1,405
  1,441
  1,482
  1,527
  1,576
  1,629
  1,688
  1,750
  1,817
  1,889
  1,966
  2,047
  2,134
  2,226
  2,324
  2,427
  2,536
  2,652
  2,774
  2,902
  3,038
  3,181
  3,331
  3,490
  3,657
  3,833
  4,017
  4,212
  4,417
Working capital, $m
  556
  629
  643
  660
  678
  699
  721
  746
  773
  801
  832
  865
  900
  937
  977
  1,019
  1,064
  1,111
  1,161
  1,214
  1,270
  1,329
  1,391
  1,456
  1,525
  1,598
  1,674
  1,755
  1,839
  1,928
  2,022
Total debt, $m
  4,904
  -858
  -739
  -602
  -449
  -280
  -93
  109
  329
  565
  819
  1,091
  1,380
  1,689
  2,016
  2,364
  2,733
  3,123
  3,536
  3,972
  4,432
  4,918
  5,430
  5,970
  6,539
  7,138
  7,769
  8,433
  9,132
  9,867
  10,640
Total liabilities, $m
  10,951
  5,189
  5,308
  5,445
  5,598
  5,767
  5,954
  6,156
  6,376
  6,612
  6,866
  7,138
  7,427
  7,736
  8,063
  8,411
  8,780
  9,170
  9,583
  10,019
  10,479
  10,965
  11,477
  12,017
  12,586
  13,185
  13,816
  14,480
  15,179
  15,914
  16,687
Total equity, $m
  -5,298
  577
  590
  605
  622
  641
  662
  684
  708
  735
  763
  793
  825
  860
  896
  935
  976
  1,019
  1,065
  1,113
  1,164
  1,218
  1,275
  1,335
  1,398
  1,465
  1,535
  1,609
  1,687
  1,768
  1,854
Total liabilities and equity, $m
  5,653
  5,766
  5,898
  6,050
  6,220
  6,408
  6,616
  6,840
  7,084
  7,347
  7,629
  7,931
  8,252
  8,596
  8,959
  9,346
  9,756
  10,189
  10,648
  11,132
  11,643
  12,183
  12,752
  13,352
  13,984
  14,650
  15,351
  16,089
  16,866
  17,682
  18,541
Debt-to-equity ratio
  -0.926
  -1.490
  -1.250
  -1.000
  -0.720
  -0.440
  -0.140
  0.160
  0.460
  0.770
  1.070
  1.380
  1.670
  1.960
  2.250
  2.530
  2.800
  3.070
  3.320
  3.570
  3.810
  4.040
  4.260
  4.470
  4.680
  4.870
  5.060
  5.240
  5.410
  5.580
  5.740
Adjusted equity ratio
  -1.280
  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
  -97
  -97
  172
  170
  169
  167
  165
  162
  159
  156
  153
  153
  149
  145
  141
  136
  131
  126
  121
  115
  109
  102
  96
  88
  81
  73
  64
  55
  46
  36
  26
Depreciation, amort., depletion, $m
  225
  141
  144
  148
  152
  156
  161
  167
  173
  179
  186
  189
  197
  205
  213
  223
  232
  243
  254
  265
  277
  290
  304
  318
  333
  349
  366
  383
  402
  421
  442
Funds from operations, $m
  294
  44
  316
  318
  321
  323
  326
  329
  332
  335
  339
  341
  345
  350
  354
  359
  364
  369
  374
  380
  386
  393
  399
  406
  414
  422
  430
  439
  448
  457
  468
Change in working capital, $m
  27
  12
  14
  17
  19
  21
  23
  25
  27
  29
  31
  33
  35
  37
  40
  42
  45
  47
  50
  53
  56
  59
  62
  65
  69
  73
  76
  80
  85
  89
  94
Cash from operations, $m
  267
  31
  302
  302
  302
  303
  303
  304
  305
  307
  308
  309
  310
  312
  314
  317
  319
  322
  324
  327
  330
  334
  337
  341
  345
  349
  354
  358
  363
  368
  374
Maintenance CAPEX, $m
  0
  -135
  -137
  -140
  -144
  -148
  -153
  -158
  -163
  -169
  -175
  -182
  -189
  -197
  -205
  -213
  -223
  -232
  -243
  -254
  -265
  -277
  -290
  -304
  -318
  -333
  -349
  -366
  -383
  -402
  -421
New CAPEX, $m
  -248
  -25
  -32
  -36
  -41
  -45
  -49
  -54
  -58
  -63
  -67
  -72
  -77
  -82
  -87
  -92
  -98
  -103
  -109
  -115
  -122
  -129
  -136
  -143
  -151
  -159
  -167
  -176
  -185
  -195
  -205
Cash from investing activities, $m
  -67
  -160
  -169
  -176
  -185
  -193
  -202
  -212
  -221
  -232
  -242
  -254
  -266
  -279
  -292
  -305
  -321
  -335
  -352
  -369
  -387
  -406
  -426
  -447
  -469
  -492
  -516
  -542
  -568
  -597
  -626
Free cash flow, $m
  200
  -129
  133
  125
  117
  110
  101
  93
  84
  75
  66
  55
  45
  34
  23
  11
  -1
  -14
  -28
  -42
  -57
  -72
  -89
  -106
  -124
  -143
  -162
  -183
  -205
  -228
  -252
Issuance/(repayment) of debt, $m
  -304
  -5,762
  119
  136
  153
  170
  186
  203
  219
  236
  254
  271
  290
  308
  328
  348
  369
  390
  413
  436
  460
  486
  512
  540
  569
  599
  631
  664
  699
  735
  773
Issuance/(repurchase) of shares, $m
  0
  5,972
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  6
  18
  32
  45
  60
Cash from financing (excl. dividends), $m  
  -353
  210
  119
  136
  153
  170
  186
  203
  219
  236
  254
  271
  290
  308
  328
  348
  369
  390
  413
  436
  460
  486
  512
  540
  569
  599
  637
  682
  731
  780
  833
Total cash flow (excl. dividends), $m
  -108
  81
  252
  262
  271
  279
  288
  296
  304
  312
  320
  326
  334
  342
  351
  359
  367
  376
  385
  394
  404
  413
  424
  434
  445
  457
  474
  499
  525
  553
  581
Retained Cash Flow (-), $m
  131
  -5,972
  -13
  -15
  -17
  -19
  -21
  -23
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -39
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
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
 
  -5,891
  239
  246
  254
  260
  267
  273
  279
  285
  291
  296
  302
  308
  314
  320
  326
  333
  339
  346
  353
  360
  367
  374
  382
  390
  404
  425
  448
  471
  495
Discount rate, %
 
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
 
  -5,579
  213
  206
  197
  187
  176
  165
  152
  140
  127
  113
  101
  89
  77
  66
  56
  47
  39
  31
  25
  20
  15
  11
  8
  6
  4
  3
  2
  1
  1
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
  49.8
  49.2
  48.3
  47.0
  45.5

Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services. It manufactures and distributes Class 4 through 8 trucks and buses in the common carrier, private carrier, government, leasing, construction, energy/petroleum, military vehicle, and student and commercial transportation markets under the International and IC brands; and designs, engineers, and produces sheet metal components, including truck cabs and engines. The company also provides customers with proprietary products needed to support the International commercial and military truck, IC bus, and engine lines, as well as other product lines; and a selection of other standard truck, trailer, and engine aftermarket parts. In addition, it designs and manufactures mid-range diesel engines, as well as provides customers with additional engine offerings in the agriculture, marine, and light truck markets; sells engines to original equipment manufacturers (OEM) for various on-and-off-road applications; and offers contract manufacturing services under the MWM brand to OEMs for the assembly of their engines. Further, the company provides retail, wholesale, and lease financing of products of its trucks and parts, as well as financing for wholesale and retail accounts receivable. It markets its commercial products through an independent dealer network, as well as through distribution and service network retail outlets; and its reconditioned used trucks to owner-operators and fleet buyers through its network of used truck dealers. As of October 31, 2016, it had approximately 728 outlets in the United States and Canada, and 94 outlets in Mexico. Navistar International Corporation was founded in 1902 and is headquartered in Lisle, Illinois.

FINANCIAL RATIOS  of  Navistar International (NAV)

Valuation Ratios
P/E Ratio -25.5
Price to Sales 0.3
Price to Book -0.5
Price to Tangible Book
Price to Cash Flow 9.3
Price to Free Cash Flow 130.3
Growth Rates
Sales Growth Rate -20%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 22.8%
Cap. Spend. - 3 Yr. Gr. Rate -16.2%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity -75.4%
Total Debt to Equity -92.6%
Interest Coverage 1
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital 63.4%
Ret/ On T. Cap. - 3 Yr. Avg. -18%
Return On Equity 1.9%
Return On Equity - 3 Yr. Avg. 6.8%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 16%
Gross Margin - 3 Yr. Avg. 14.1%
EBITDA Margin 6%
EBITDA Margin - 3 Yr. Avg. 3.5%
Operating Margin 3.6%
Oper. Margin - 3 Yr. Avg. 1.1%
Pre-Tax Margin -0.4%
Pre-Tax Margin - 3 Yr. Avg. -2.2%
Net Profit Margin -1.2%
Net Profit Margin - 3 Yr. Avg. -2.9%
Effective Tax Rate -103.1%
Eff/ Tax Rate - 3 Yr. Avg. -52.4%
Payout Ratio 0%

NAV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NAV stock intrinsic value calculation we used $8111 million for the last fiscal year's total revenue generated by Navistar International. The default revenue input number comes from 2016 income statement of Navistar International. 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 NAV 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 5.6%, whose default value for NAV is calculated based on our internal credit rating of Navistar International, 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 Navistar International.
    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 NAV stock the variable cost ratio is equal to 97.8%.

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 NAV 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 5.7% for Navistar International.

Corporate tax rate of 27% is the nominal tax rate for Navistar International. 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 NAV 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 NAV are equal to 16.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Navistar International 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 NAV is equal to 7.6%. 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 - $-5298 million for Navistar International - 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 79.343 million for Navistar International 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 Navistar International at the current share price and the inputted number of shares is $2.4 billion.

RELATED COMPANIES Price Int.Val. Rating
PCAR Paccar 63.00 26.24  str.sell
CMI Cummins 150.79 129.21  sell
CAT Caterpillar 113.92 22.60  str.sell
CNHI CNH Industrial 11.22 21.62  str.buy
OSK Oshkosh 73.38 63.90  hold
WNC Wabash Nationa 20.51 29.22  buy
GM General Motors 34.83 195.49  str.buy

COMPANY NEWS

▶ [$$] Navistar Ordered to Pay $31 Million Over Faulty Engines   [Aug-14-17 08:41PM  The Wall Street Journal]
▶ Company News for June 08, 2017   [09:31AM  Zacks]
▶ New Navistar line hits full production in Springfield   [Jun-07-17 11:40AM  American City Business Journals]
▶ Story Stocks from Briefing.com   [09:51AM  Briefing.com]
▶ Navistar reports 2Q loss   [07:03AM  Associated Press]
▶ Navistar posts 2nd-qtr loss   [06:16AM  Reuters]
▶ Manufacturer laying off 81 in Springfield   [Jun-06-17 02:30PM  American City Business Journals]
▶ 5 Stocks To Watch This Week   [Jun-05-17 04:46PM  Zacks]
▶ Stocks Billionaire Carl Icahn Is Buying Now   [May-18-17 11:40AM  Motley Fool]
▶ Cummins Breaks Out On Heavy-Duty Earnings Growth   [May-02-17 04:47PM  Investor's Business Daily]
▶ Phil Christman Named President Of Operations   [Apr-20-17 09:30AM  PR Newswire]
▶ International Truck Launches RH Series   [07:00AM  PR Newswire]
▶ Today's Top Supply Chain and Logistics News From WSJ   [Mar-21-17 06:41AM  at The Wall Street Journal]
▶ 5 Stocks Insiders Love Right Now   [Mar-15-17 01:49PM  TheStreet.com]
▶ Company News for March 14, 2017   [Mar-14-17 10:10AM  Zacks]
▶ Carl Icahn Increases Stake in Navistar   [Mar-13-17 04:10PM  Investopedia]
▶ Carl Icahn Increases Stake in Navistar   [04:10PM  at Investopedia]
▶ Stocks to Watch: Snap, Michaels, Dick's, Navistar   [09:31AM  at The Wall Street Journal]
Stock chart of NAV Financial statements of NAV
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.