Intrinsic value of Nutraceutical International - NUTR

Previous Close

$41.80

  Intrinsic Value

$27.42

stock screener

  Rating & Target

sell

-34%

  Value-price divergence*

-7%

Previous close

$41.80

 
Intrinsic value

$27.42

 
Up/down potential

-34%

 
Rating

sell

 
Value-price divergence*

-7%

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

We calculate the intrinsic value of NUTR 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 0.4

 

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, %
  7.87
  3.40
  3.56
  3.70
  3.83
  3.95
  4.06
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.89
  4.90
  4.91
  4.92
  4.92
Revenue, $m
  233
  241
  249
  259
  269
  279
  291
  303
  315
  329
  343
  359
  375
  392
  410
  429
  449
  470
  492
  516
  540
  566
  594
  622
  653
  685
  718
  753
  790
  829
  870
Variable operating expenses, $m
 
  170
  175
  182
  189
  196
  204
  212
  221
  230
  240
  248
  259
  271
  283
  296
  310
  325
  340
  356
  373
  391
  410
  430
  451
  473
  496
  520
  546
  573
  601
Fixed operating expenses, $m
 
  42
  43
  44
  45
  46
  48
  49
  50
  51
  52
  54
  55
  57
  58
  59
  61
  62
  64
  66
  67
  69
  71
  72
  74
  76
  78
  80
  82
  84
  86
Total operating expenses, $m
  204
  212
  218
  226
  234
  242
  252
  261
  271
  281
  292
  302
  314
  328
  341
  355
  371
  387
  404
  422
  440
  460
  481
  502
  525
  549
  574
  600
  628
  657
  687
Operating income, $m
  29
  29
  31
  33
  35
  37
  39
  42
  45
  47
  51
  57
  61
  65
  69
  73
  78
  83
  88
  94
  100
  106
  113
  120
  128
  136
  144
  153
  163
  172
  183
EBITDA, $m
  43
  43
  45
  47
  49
  52
  55
  58
  61
  65
  68
  73
  77
  82
  86
  92
  97
  103
  109
  116
  123
  131
  139
  147
  156
  165
  175
  185
  196
  208
  220
Interest expense (income), $m
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
Earnings before tax, $m
  28
  28
  29
  31
  33
  35
  37
  40
  42
  45
  48
  55
  58
  62
  66
  70
  75
  79
  85
  90
  96
  102
  108
  115
  122
  130
  138
  147
  156
  166
  176
Tax expense, $m
  9
  8
  8
  8
  9
  9
  10
  11
  11
  12
  13
  15
  16
  17
  18
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
  35
  37
  40
  42
  45
  47
Net income, $m
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
  35
  40
  42
  45
  48
  51
  54
  58
  62
  66
  70
  74
  79
  84
  89
  95
  101
  107
  114
  121
  128

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  7
  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
  236
  237
  245
  254
  264
  275
  286
  298
  310
  324
  338
  353
  369
  385
  403
  422
  441
  462
  484
  507
  531
  557
  584
  612
  642
  673
  706
  741
  777
  815
  855
Adjusted assets (=assets-cash), $m
  229
  237
  245
  254
  264
  275
  286
  298
  310
  324
  338
  353
  369
  385
  403
  422
  441
  462
  484
  507
  531
  557
  584
  612
  642
  673
  706
  741
  777
  815
  855
Revenue / Adjusted assets
  1.017
  1.017
  1.016
  1.020
  1.019
  1.015
  1.017
  1.017
  1.016
  1.015
  1.015
  1.017
  1.016
  1.018
  1.017
  1.017
  1.018
  1.017
  1.017
  1.018
  1.017
  1.016
  1.017
  1.016
  1.017
  1.018
  1.017
  1.016
  1.017
  1.017
  1.018
Average production assets, $m
  100
  103
  107
  111
  115
  120
  125
  130
  135
  141
  147
  154
  161
  168
  176
  184
  193
  202
  211
  221
  232
  243
  255
  267
  280
  294
  308
  323
  339
  356
  373
Working capital, $m
  74
  69
  72
  75
  77
  80
  84
  87
  91
  95
  99
  103
  108
  113
  118
  124
  129
  135
  142
  149
  156
  163
  171
  179
  188
  197
  207
  217
  228
  239
  250
Total debt, $m
  44
  46
  48
  51
  54
  57
  60
  63
  67
  70
  74
  78
  83
  88
  92
  98
  103
  109
  115
  121
  128
  135
  143
  151
  159
  168
  177
  187
  197
  207
  219
Total liabilities, $m
  64
  66
  68
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  108
  112
  118
  123
  129
  135
  141
  148
  155
  163
  171
  179
  188
  197
  207
  217
  227
  239
Total equity, $m
  172
  171
  177
  183
  190
  198
  206
  215
  224
  233
  244
  254
  266
  278
  291
  304
  318
  333
  349
  366
  383
  402
  421
  441
  463
  485
  509
  534
  560
  588
  617
Total liabilities and equity, $m
  236
  237
  245
  254
  264
  275
  286
  298
  311
  323
  338
  352
  369
  386
  403
  422
  441
  462
  484
  507
  531
  557
  584
  612
  642
  673
  706
  741
  777
  815
  856
Debt-to-equity ratio
  0.256
  0.270
  0.270
  0.280
  0.280
  0.290
  0.290
  0.290
  0.300
  0.300
  0.300
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.330
  0.330
  0.330
  0.330
  0.340
  0.340
  0.340
  0.340
  0.350
  0.350
  0.350
  0.350
  0.350
  0.350
Adjusted equity ratio
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721
  0.721

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
  35
  40
  42
  45
  48
  51
  54
  58
  62
  66
  70
  74
  79
  84
  89
  95
  101
  107
  114
  121
  128
Depreciation, amort., depletion, $m
  14
  13
  14
  14
  15
  15
  16
  16
  17
  17
  18
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  25
  27
  28
  29
  31
  32
  34
  36
  37
Funds from operations, $m
  32
  34
  35
  37
  39
  41
  43
  45
  48
  50
  53
  55
  58
  62
  66
  70
  74
  78
  83
  88
  93
  99
  105
  111
  117
  124
  132
  140
  148
  156
  166
Change in working capital, $m
  -1
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
Cash from operations, $m
  33
  31
  33
  34
  36
  38
  40
  42
  44
  46
  49
  51
  54
  57
  60
  64
  68
  72
  76
  81
  86
  91
  97
  103
  109
  115
  122
  129
  137
  145
  154
Maintenance CAPEX, $m
  0
  -10
  -10
  -11
  -11
  -12
  -12
  -12
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -34
  -36
New CAPEX, $m
  -9
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
Cash from investing activities, $m
  -35
  -13
  -14
  -15
  -15
  -17
  -17
  -17
  -18
  -20
  -20
  -22
  -22
  -23
  -25
  -26
  -27
  -28
  -30
  -31
  -33
  -34
  -36
  -37
  -40
  -42
  -43
  -46
  -48
  -51
  -54
Free cash flow, $m
  -2
  18
  19
  20
  20
  22
  23
  24
  25
  27
  29
  30
  32
  34
  36
  38
  41
  44
  47
  50
  53
  57
  61
  65
  69
  74
  78
  84
  89
  95
  101
Issuance/(repayment) of debt, $m
  12
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
Issuance/(repurchase) of shares, $m
  -7
  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  
  5
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
Total cash flow (excl. dividends), $m
  2
  20
  21
  22
  23
  24
  26
  27
  29
  31
  33
  34
  36
  38
  41
  44
  46
  50
  53
  56
  60
  64
  68
  73
  77
  82
  88
  93
  99
  105
  112
Retained Cash Flow (-), $m
  -12
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -26
  -28
  -29
Prev. year cash balance distribution, $m
 
  7
  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
 
  21
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  26
  28
  30
  32
  35
  37
  40
  43
  46
  49
  52
  56
  60
  64
  68
  73
  78
  83
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
 
  21
  14
  14
  13
  13
  13
  13
  12
  12
  12
  11
  10
  10
  9
  9
  8
  8
  7
  6
  5
  5
  4
  3
  3
  2
  2
  1
  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

Nutraceutical International Corporation manufactures, markets, distributes, and retails branded nutritional supplements and other natural products in the United States and internationally. Its products include vitamins and minerals, herbs, specialty formulas, personal care products, liquid nutritional products, homeopathics, functional foods, and other products in various formulations and delivery forms, such as capsules, tablets, soft gels, chewables, liquids, creams, sprays, powders, and whole herbs. The company markets and sells its products under the Solaray, KAL, Dynamic Health, Nature's Life, LifeTime, Natural Balance, NaturalCare, Health from the Sun, Pioneer, Nutra BioGenesis, Life-flo, Organix South, Heritage Store, and Monarch Nutraceuticals brand names. It also owns neighborhood natural food markets, which operate under the trade names of The Real Food Company, Thom's Natural Foods, Cornucopia Community Market, and Granola's; and health food stores, which operate under various trade names, including Fresh Vitamins and Peachtree Natural Foods. The company sells its products directly; and through sales force, and health and natural food stores to retailers, distributors, manufacturers, and consumers. Nutraceutical International Corporation was founded in 1993 and is based in Park City, Utah.

FINANCIAL RATIOS  of  Nutraceutical International (NUTR)

Valuation Ratios
P/E Ratio 20.2
Price to Sales 1.7
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 11.7
Price to Free Cash Flow 16
Growth Rates
Sales Growth Rate 7.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 2.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 25.6%
Total Debt to Equity 25.6%
Interest Coverage 29
Management Effectiveness
Return On Assets 8.8%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 9.3%
Ret/ On T. Cap. - 3 Yr. Avg. 8.6%
Return On Equity 11.4%
Return On Equity - 3 Yr. Avg. 10.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 50.6%
Gross Margin - 3 Yr. Avg. 49.8%
EBITDA Margin 18.5%
EBITDA Margin - 3 Yr. Avg. 17.6%
Operating Margin 12.4%
Oper. Margin - 3 Yr. Avg. 11.9%
Pre-Tax Margin 12%
Pre-Tax Margin - 3 Yr. Avg. 11.4%
Net Profit Margin 8.2%
Net Profit Margin - 3 Yr. Avg. 7.5%
Effective Tax Rate 32.1%
Eff/ Tax Rate - 3 Yr. Avg. 34.3%
Payout Ratio 0%

NUTR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NUTR stock intrinsic value calculation we used $233 million for the last fiscal year's total revenue generated by Nutraceutical International. The default revenue input number comes from 2016 income statement of Nutraceutical 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 NUTR stock valuation model: a) initial revenue growth rate of 3.4% 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 NUTR is calculated based on our internal credit rating of Nutraceutical 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 Nutraceutical 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 NUTR stock the variable cost ratio is equal to 70.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $41 million in the base year in the intrinsic value calculation for NUTR 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 Nutraceutical International.

Corporate tax rate of 27% is the nominal tax rate for Nutraceutical 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 NUTR 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 NUTR are equal to 42.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Nutraceutical 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 NUTR is equal to 28.8%. 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 - $172 million for Nutraceutical 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 8.903 million for Nutraceutical 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 Nutraceutical International at the current share price and the inputted number of shares is $0.4 billion.

RELATED COMPANIES Price Int.Val. Rating
VSI Vitamin Shoppe 5.90 39.64  str.buy
GNC GNC Holdings C 9.37 7.25  hold
WFM Whole Foods Ma 41.73 28.30  sell
CG Carlyle Group 20.95 94.24  str.buy
NGVC Natural Grocer 6.10 13.04  str.buy
PG Procter&Gamble 92.47 51.93  sell
HAIN Hain Celestial 42.40 28.74  sell
USNA USANA Health S 56.55 89.06  buy
UNFI United Natural 35.79 21.40  sell
RELV Reliv Internat 7.50 2.00  str.sell

COMPANY NEWS

▶ Nutraceutical posts 3Q profit   [Jul-28-17 12:28AM  Associated Press]
▶ Nutraceutical Reports Fiscal 2017 Q3 Results   [Jul-27-17 07:00AM  PR Newswire]
▶ [$$] Does Mario Gabelli See Steve Young Fumbling?   [Jul-07-17 09:13AM  Barrons.com]
▶ Will Nutraceutical's Go-Shop Yield a Higher Bid?   [May-24-17 01:06PM  TheStreet.com]
▶ Story Stocks from Briefing.com   [11:17AM  Briefing.com]
▶ [$$] HGGC Reaches Deal to Buy Nutraceutical   [08:13AM  The Wall Street Journal]
▶ Nutraceutical posts 2Q profit   [Apr-27-17 08:10AM  Associated Press]
▶ Nutraceutical Announces Acquisition   [Apr-06-17 04:01PM  PR Newswire]
▶ 10 Best Performing Weight Loss Companies And Their Programs   [Mar-09-17 10:48AM  Insider Monkey]
▶ Nutraceutical posts 1Q profit   [07:34AM  Associated Press]
▶ Is Bel Fuse, Inc. (BELFB) A Good Stock To Buy?   [Dec-13-16 07:17AM  at Insider Monkey]
▶ Malibu Boats Inc (MBUU): Are Hedge Funds Right About This Stock?   [Dec-05-16 01:41PM  at Insider Monkey]
▶ Is Ruby Tuesday, Inc. (RT) A Good Stock To Buy?   [06:38AM  at Insider Monkey]
▶ Should You Avoid Atlantic Power Corp (AT)?   [Dec-13  06:38PM  at Insider Monkey]
▶ Is Nutraceutical Intl Corp. (NUTR) A Good Stock To Buy?   [Nov-28  07:46AM  at Insider Monkey]
▶ Here is What Hedge Funds Think About KMG Chemicals, Inc. (KMG)   [Nov-25  11:30AM  at Insider Monkey]
▶ 10-Q for Nutraceutical International Corp.   [Aug-01  08:09PM  at Company Spotlight]
▶ 10-Q for Nutraceutical International Corp.   [May-04  08:12PM  at Company Spotlight]
Stock chart of NUTR Financial statements of NUTR
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.