Intrinsic value of Insight Enterprises - NSIT

Previous Close

$41.75

  Intrinsic Value

$445.50

stock screener

  Rating & Target

str. buy

+967%

  Value-price divergence*

+710%

Previous close

$41.75

 
Intrinsic value

$445.50

 
Up/down potential

+967%

 
Rating

str. buy

 
Value-price divergence*

+710%

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

We calculate the intrinsic value of NSIT 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 1.5

 

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, %
  2.10
  15.70
  14.63
  13.67
  12.80
  12.02
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
  7.20
  6.98
  6.78
  6.61
  6.45
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
Revenue, $m
  5,486
  6,347
  7,276
  8,270
  9,329
  10,450
  11,633
  12,876
  14,179
  15,541
  16,962
  18,443
  19,985
  21,588
  23,255
  24,986
  26,786
  28,657
  30,601
  32,622
  34,725
  36,913
  39,191
  41,563
  44,036
  46,613
  49,302
  52,108
  55,038
  58,098
  61,295
Variable operating expenses, $m
 
  5,051
  5,790
  6,580
  7,421
  8,313
  9,253
  10,241
  11,277
  12,359
  13,489
  14,660
  15,885
  17,159
  18,484
  19,861
  21,291
  22,778
  24,323
  25,930
  27,601
  29,340
  31,151
  33,037
  35,002
  37,051
  39,188
  41,418
  43,747
  46,179
  48,721
Fixed operating expenses, $m
 
  1,017
  1,042
  1,068
  1,095
  1,122
  1,150
  1,179
  1,209
  1,239
  1,270
  1,302
  1,334
  1,367
  1,402
  1,437
  1,473
  1,509
  1,547
  1,586
  1,626
  1,666
  1,708
  1,750
  1,794
  1,839
  1,885
  1,932
  1,981
  2,030
  2,081
Total operating expenses, $m
  5,337
  6,068
  6,832
  7,648
  8,516
  9,435
  10,403
  11,420
  12,486
  13,598
  14,759
  15,962
  17,219
  18,526
  19,886
  21,298
  22,764
  24,287
  25,870
  27,516
  29,227
  31,006
  32,859
  34,787
  36,796
  38,890
  41,073
  43,350
  45,728
  48,209
  50,802
Operating income, $m
  149
  279
  444
  622
  813
  1,015
  1,230
  1,456
  1,694
  1,943
  2,204
  2,482
  2,766
  3,061
  3,369
  3,689
  4,023
  4,369
  4,731
  5,107
  5,498
  5,906
  6,332
  6,776
  7,240
  7,724
  8,229
  8,758
  9,310
  9,889
  10,494
EBITDA, $m
  187
  309
  478
  660
  854
  1,061
  1,280
  1,511
  1,754
  2,008
  2,274
  2,552
  2,842
  3,143
  3,457
  3,784
  4,124
  4,478
  4,847
  5,231
  5,630
  6,047
  6,481
  6,934
  7,407
  7,901
  8,416
  8,956
  9,519
  10,109
  10,727
Interest expense (income), $m
  4
  3
  17
  32
  49
  67
  86
  105
  126
  148
  171
  195
  219
  245
  272
  300
  329
  359
  391
  423
  457
  492
  529
  567
  607
  648
  691
  736
  783
  832
  884
Earnings before tax, $m
  139
  277
  427
  590
  763
  948
  1,144
  1,351
  1,568
  1,795
  2,033
  2,287
  2,546
  2,816
  3,097
  3,389
  3,693
  4,010
  4,340
  4,683
  5,041
  5,414
  5,803
  6,209
  6,633
  7,075
  7,538
  8,021
  8,527
  9,056
  9,610
Tax expense, $m
  54
  75
  115
  159
  206
  256
  309
  365
  423
  485
  549
  618
  687
  760
  836
  915
  997
  1,083
  1,172
  1,265
  1,361
  1,462
  1,567
  1,676
  1,791
  1,910
  2,035
  2,166
  2,302
  2,445
  2,595
Net income, $m
  85
  202
  312
  430
  557
  692
  835
  986
  1,144
  1,310
  1,484
  1,670
  1,859
  2,056
  2,261
  2,474
  2,696
  2,927
  3,168
  3,419
  3,680
  3,952
  4,236
  4,533
  4,842
  5,165
  5,503
  5,856
  6,225
  6,611
  7,016

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  203
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,219
  2,333
  2,674
  3,039
  3,428
  3,841
  4,275
  4,732
  5,211
  5,712
  6,234
  6,778
  7,345
  7,934
  8,546
  9,183
  9,844
  10,532
  11,246
  11,989
  12,762
  13,566
  14,403
  15,275
  16,184
  17,131
  18,119
  19,150
  20,227
  21,352
  22,527
Adjusted assets (=assets-cash), $m
  2,016
  2,333
  2,674
  3,039
  3,428
  3,841
  4,275
  4,732
  5,211
  5,712
  6,234
  6,778
  7,345
  7,934
  8,546
  9,183
  9,844
  10,532
  11,246
  11,989
  12,762
  13,566
  14,403
  15,275
  16,184
  17,131
  18,119
  19,150
  20,227
  21,352
  22,527
Revenue / Adjusted assets
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
  2.721
Average production assets, $m
  104
  121
  138
  157
  177
  199
  221
  245
  269
  295
  322
  350
  380
  410
  442
  475
  509
  544
  581
  620
  660
  701
  745
  790
  837
  886
  937
  990
  1,046
  1,104
  1,165
Working capital, $m
  545
  394
  451
  513
  578
  648
  721
  798
  879
  964
  1,052
  1,143
  1,239
  1,338
  1,442
  1,549
  1,661
  1,777
  1,897
  2,023
  2,153
  2,289
  2,430
  2,577
  2,730
  2,890
  3,057
  3,231
  3,412
  3,602
  3,800
Total debt, $m
  41
  278
  532
  805
  1,096
  1,404
  1,729
  2,070
  2,428
  2,802
  3,192
  3,598
  4,021
  4,462
  4,919
  5,395
  5,889
  6,402
  6,936
  7,491
  8,068
  8,669
  9,294
  9,945
  10,624
  11,332
  12,070
  12,840
  13,645
  14,485
  15,362
Total liabilities, $m
  1,506
  1,743
  1,997
  2,270
  2,561
  2,869
  3,194
  3,535
  3,893
  4,267
  4,657
  5,063
  5,486
  5,927
  6,384
  6,860
  7,354
  7,867
  8,401
  8,956
  9,533
  10,134
  10,759
  11,410
  12,089
  12,797
  13,535
  14,305
  15,110
  15,950
  16,827
Total equity, $m
  713
  590
  677
  769
  867
  972
  1,082
  1,197
  1,318
  1,445
  1,577
  1,715
  1,858
  2,007
  2,162
  2,323
  2,491
  2,665
  2,845
  3,033
  3,229
  3,432
  3,644
  3,865
  4,094
  4,334
  4,584
  4,845
  5,117
  5,402
  5,699
Total liabilities and equity, $m
  2,219
  2,333
  2,674
  3,039
  3,428
  3,841
  4,276
  4,732
  5,211
  5,712
  6,234
  6,778
  7,344
  7,934
  8,546
  9,183
  9,845
  10,532
  11,246
  11,989
  12,762
  13,566
  14,403
  15,275
  16,183
  17,131
  18,119
  19,150
  20,227
  21,352
  22,526
Debt-to-equity ratio
  0.058
  0.470
  0.790
  1.050
  1.260
  1.440
  1.600
  1.730
  1.840
  1.940
  2.020
  2.100
  2.160
  2.220
  2.280
  2.320
  2.360
  2.400
  2.440
  2.470
  2.500
  2.530
  2.550
  2.570
  2.590
  2.610
  2.630
  2.650
  2.670
  2.680
  2.700
Adjusted equity ratio
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253
  0.253

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  85
  202
  312
  430
  557
  692
  835
  986
  1,144
  1,310
  1,484
  1,670
  1,859
  2,056
  2,261
  2,474
  2,696
  2,927
  3,168
  3,419
  3,680
  3,952
  4,236
  4,533
  4,842
  5,165
  5,503
  5,856
  6,225
  6,611
  7,016
Depreciation, amort., depletion, $m
  38
  30
  34
  38
  42
  46
  51
  55
  60
  65
  71
  70
  76
  82
  88
  95
  102
  109
  116
  124
  132
  140
  149
  158
  167
  177
  187
  198
  209
  221
  233
Funds from operations, $m
  46
  232
  346
  468
  599
  738
  886
  1,041
  1,205
  1,376
  1,555
  1,740
  1,935
  2,138
  2,349
  2,569
  2,798
  3,036
  3,284
  3,543
  3,812
  4,093
  4,385
  4,691
  5,009
  5,342
  5,690
  6,054
  6,434
  6,832
  7,248
Change in working capital, $m
  -50
  53
  58
  62
  66
  70
  73
  77
  81
  84
  88
  92
  96
  99
  103
  107
  112
  116
  121
  125
  130
  136
  141
  147
  153
  160
  167
  174
  182
  190
  198
Cash from operations, $m
  96
  179
  288
  406
  533
  669
  812
  964
  1,124
  1,291
  1,467
  1,648
  1,839
  2,038
  2,246
  2,462
  2,686
  2,920
  3,164
  3,418
  3,682
  3,957
  4,244
  4,544
  4,856
  5,182
  5,523
  5,880
  6,252
  6,642
  7,050
Maintenance CAPEX, $m
  0
  -21
  -24
  -28
  -31
  -35
  -40
  -44
  -49
  -54
  -59
  -64
  -70
  -76
  -82
  -88
  -95
  -102
  -109
  -116
  -124
  -132
  -140
  -149
  -158
  -167
  -177
  -187
  -198
  -209
  -221
New CAPEX, $m
  -12
  -17
  -18
  -19
  -20
  -21
  -22
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
Cash from investing activities, $m
  -21
  -38
  -42
  -47
  -51
  -56
  -62
  -68
  -74
  -80
  -86
  -92
  -99
  -106
  -114
  -121
  -129
  -138
  -146
  -154
  -164
  -174
  -183
  -194
  -205
  -216
  -228
  -240
  -254
  -267
  -282
Free cash flow, $m
  75
  141
  246
  360
  482
  612
  750
  896
  1,050
  1,211
  1,380
  1,555
  1,740
  1,932
  2,132
  2,340
  2,557
  2,783
  3,018
  3,263
  3,518
  3,784
  4,061
  4,350
  4,651
  4,966
  5,295
  5,639
  5,999
  6,375
  6,769
Issuance/(repayment) of debt, $m
  -3
  237
  255
  273
  291
  308
  325
  341
  358
  374
  390
  407
  423
  440
  458
  475
  494
  513
  534
  555
  577
  601
  625
  651
  679
  708
  738
  770
  804
  840
  878
Issuance/(repurchase) of shares, $m
  -50
  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  
  -58
  237
  255
  273
  291
  308
  325
  341
  358
  374
  390
  407
  423
  440
  458
  475
  494
  513
  534
  555
  577
  601
  625
  651
  679
  708
  738
  770
  804
  840
  878
Total cash flow (excl. dividends), $m
  15
  378
  501
  633
  772
  920
  1,075
  1,238
  1,408
  1,585
  1,771
  1,962
  2,163
  2,372
  2,590
  2,816
  3,051
  3,297
  3,552
  3,818
  4,095
  4,384
  4,686
  5,001
  5,330
  5,674
  6,033
  6,409
  6,803
  7,215
  7,647
Retained Cash Flow (-), $m
  -27
  -80
  -86
  -92
  -98
  -104
  -110
  -116
  -121
  -127
  -132
  -138
  -143
  -149
  -155
  -161
  -167
  -174
  -181
  -188
  -196
  -203
  -212
  -221
  -230
  -240
  -250
  -261
  -272
  -285
  -297
Prev. year cash balance distribution, $m
 
  203
  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
 
  500
  415
  540
  674
  816
  965
  1,122
  1,287
  1,459
  1,639
  1,824
  2,020
  2,223
  2,435
  2,655
  2,884
  3,123
  3,371
  3,630
  3,900
  4,181
  4,474
  4,780
  5,100
  5,434
  5,783
  6,148
  6,530
  6,930
  7,349
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
 
  480
  380
  470
  555
  632
  700
  758
  804
  838
  859
  866
  862
  845
  817
  779
  733
  679
  621
  559
  496
  432
  371
  313
  260
  211
  169
  132
  101
  76
  55
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

Insight Enterprises, Inc. is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific. The Company consults, designs, implements and manages integrated IT solutions for its customers. Its offerings in North America and select countries in Europe, the Middle East and Africa include a suite of IT hardware, software and services solutions. Its offerings in the remainder of EMEA and APAC segments are software and select software-related services. Its cloud management platform serves as a marketplace for its clients to buy and manage their cloud subscriptions with options that manage their software-as-a-service and infrastructure-as-a-service management capabilities.

FINANCIAL RATIOS  of  Insight Enterprises (NSIT)

Valuation Ratios
P/E Ratio 17.4
Price to Sales 0.3
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 15.4
Price to Free Cash Flow 17.6
Growth Rates
Sales Growth Rate 2.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -7.7%
Cap. Spend. - 3 Yr. Gr. Rate -8.8%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 5.8%
Total Debt to Equity 5.8%
Interest Coverage 36
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 4%
Return On Total Capital 11.1%
Ret/ On T. Cap. - 3 Yr. Avg. 10.2%
Return On Equity 12.2%
Return On Equity - 3 Yr. Avg. 11.2%
Asset Turnover 2.6
Profitability Ratios
Gross Margin 13.5%
Gross Margin - 3 Yr. Avg. 13.4%
EBITDA Margin 3.3%
EBITDA Margin - 3 Yr. Avg. 3.1%
Operating Margin 2.7%
Oper. Margin - 3 Yr. Avg. 2.5%
Pre-Tax Margin 2.5%
Pre-Tax Margin - 3 Yr. Avg. 2.4%
Net Profit Margin 1.5%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 38.8%
Eff/ Tax Rate - 3 Yr. Avg. 37.9%
Payout Ratio 0%

NSIT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NSIT stock intrinsic value calculation we used $5486 million for the last fiscal year's total revenue generated by Insight Enterprises. The default revenue input number comes from 2016 income statement of Insight Enterprises. 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 NSIT stock valuation model: a) initial revenue growth rate of 15.7% 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 NSIT is calculated based on our internal credit rating of Insight Enterprises, 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 Insight Enterprises.
    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 NSIT stock the variable cost ratio is equal to 79.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $992 million in the base year in the intrinsic value calculation for NSIT 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 6.1% for Insight Enterprises.

Corporate tax rate of 27% is the nominal tax rate for Insight Enterprises. 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 NSIT 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 NSIT are equal to 1.9%.

Life of production assets of 4.3 years is the average useful life of capital assets used in Insight Enterprises 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 NSIT is equal to 6.2%. 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 - $713 million for Insight Enterprises - 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 35.853 million for Insight Enterprises 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 Insight Enterprises at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ Mimecast Announces First Quarter 2018 Financial Results   [Aug-07-17 04:11PM  GlobeNewswire]
▶ Insight Enterprises beats 2Q profit forecasts   [Aug-02-17 11:13PM  Associated Press]
▶ Insight reports record revenue and profit in latest quarter   [07:43PM  American City Business Journals]
▶ Stocks To Watch: Insight Enterprises Sees Relative Strength Rating Rise To 83   [Jul-14-17 03:00AM  Investor's Business Daily]
▶ Media Alert: Livestream on Next-Generation Mobility   [Jul-12-17 10:01AM  GlobeNewswire]
▶ Insight Featured in 2017 Fortune 500 List   [Jun-21-17 08:30AM  GlobeNewswire]
▶ Buck the Retail Slump with These 5 Solid Picks   [Jun-15-17 02:52PM  Zacks]
▶ Insight Enterprises to Present at Investor Conference   [May-24-17 04:14PM  GlobeNewswire]
▶ Insight Enterprises to Present at Investor Conference   [May-22-17 04:14PM  GlobeNewswire]
▶ Insight Enterprises to Present at Investor Conference   [May-10-17 06:30PM  GlobeNewswire]
▶ Stocks With Rising Composite Ratings: Insight Enterprises   [May-09-17 10:51AM  Investor's Business Daily]
▶ Why Shares of Insight Enterprises Jumped Today   [May-04-17 01:41PM  Motley Fool]
▶ Insight Enterprises beats Street 1Q forecasts   [05:02AM  Associated Press]
▶ Insight reports 100 percent profit boost on organic growth, acquisition   [May-03-17 09:08PM  American City Business Journals]
▶ Insight Named Corporate Reseller of the Year by Veeam   [Feb-28-17 08:30AM  GlobeNewswire]
▶ Insight Named a Dell EMC Titanium Black Channel Partner   [Jan-23-17 08:30AM  GlobeNewswire]
Financial statements of NSIT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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