Intrinsic value of Orbital ATK - OA

Previous Close

$107.04

  Intrinsic Value

$170.90

stock screener

  Rating & Target

str. buy

+60%

  Value-price divergence*

+45%

Previous close

$107.04

 
Intrinsic value

$170.90

 
Up/down potential

+60%

 
Rating

str. buy

 
Value-price divergence*

+45%

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

We calculate the intrinsic value of OA 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 6.2

 

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, %
  31.38
  12.90
  12.11
  11.40
  10.76
  10.18
  9.66
  9.20
  8.78
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
Revenue, $m
  4,455
  5,030
  5,639
  6,282
  6,957
  7,666
  8,407
  9,180
  9,986
  10,825
  11,697
  12,604
  13,547
  14,527
  15,545
  16,603
  17,703
  18,848
  20,038
  21,278
  22,569
  23,914
  25,316
  26,779
  28,306
  29,899
  31,564
  33,303
  35,121
  37,022
  39,011
Variable operating expenses, $m
 
  4,342
  4,846
  5,377
  5,936
  6,522
  7,135
  7,774
  8,440
  9,134
  9,856
  10,422
  11,202
  12,012
  12,854
  13,729
  14,638
  15,585
  16,569
  17,594
  18,662
  19,774
  20,933
  22,143
  23,405
  24,723
  26,099
  27,537
  29,041
  30,613
  32,258
Fixed operating expenses, $m
 
  120
  123
  126
  129
  132
  136
  139
  143
  146
  150
  154
  157
  161
  165
  169
  174
  178
  182
  187
  192
  197
  201
  206
  212
  217
  222
  228
  234
  239
  245
Total operating expenses, $m
  3,983
  4,462
  4,969
  5,503
  6,065
  6,654
  7,271
  7,913
  8,583
  9,280
  10,006
  10,576
  11,359
  12,173
  13,019
  13,898
  14,812
  15,763
  16,751
  17,781
  18,854
  19,971
  21,134
  22,349
  23,617
  24,940
  26,321
  27,765
  29,275
  30,852
  32,503
Operating income, $m
  472
  568
  670
  778
  892
  1,012
  1,137
  1,267
  1,403
  1,545
  1,692
  2,029
  2,188
  2,354
  2,526
  2,705
  2,891
  3,085
  3,287
  3,497
  3,715
  3,944
  4,181
  4,430
  4,689
  4,959
  5,242
  5,538
  5,847
  6,170
  6,508
EBITDA, $m
  631
  811
  920
  1,036
  1,158
  1,286
  1,420
  1,560
  1,705
  1,857
  2,015
  2,179
  2,349
  2,527
  2,711
  2,903
  3,102
  3,310
  3,525
  3,750
  3,984
  4,229
  4,483
  4,749
  5,026
  5,316
  5,618
  5,935
  6,265
  6,611
  6,973
Interest expense (income), $m
  62
  60
  80
  101
  123
  146
  171
  196
  223
  251
  280
  310
  341
  374
  408
  443
  479
  517
  557
  598
  640
  685
  731
  780
  830
  883
  938
  995
  1,055
  1,118
  1,183
Earnings before tax, $m
  404
  508
  590
  677
  769
  865
  966
  1,071
  1,180
  1,294
  1,412
  1,719
  1,847
  1,980
  2,118
  2,262
  2,412
  2,568
  2,730
  2,899
  3,075
  3,259
  3,450
  3,650
  3,859
  4,077
  4,304
  4,542
  4,792
  5,052
  5,325
Tax expense, $m
  111
  137
  159
  183
  208
  234
  261
  289
  319
  349
  381
  464
  499
  535
  572
  611
  651
  693
  737
  783
  830
  880
  932
  985
  1,042
  1,101
  1,162
  1,226
  1,294
  1,364
  1,438
Net income, $m
  293
  370
  431
  494
  561
  632
  705
  781
  861
  944
  1,031
  1,255
  1,348
  1,445
  1,546
  1,651
  1,761
  1,874
  1,993
  2,116
  2,245
  2,379
  2,519
  2,664
  2,817
  2,976
  3,142
  3,316
  3,498
  3,688
  3,887

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  200
  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
  5,418
  5,890
  6,603
  7,355
  8,147
  8,976
  9,844
  10,749
  11,693
  12,675
  13,697
  14,759
  15,863
  17,010
  18,202
  19,441
  20,730
  22,070
  23,464
  24,915
  26,427
  28,002
  29,644
  31,357
  33,145
  35,011
  36,960
  38,996
  41,125
  43,352
  45,681
Adjusted assets (=assets-cash), $m
  5,218
  5,890
  6,603
  7,355
  8,147
  8,976
  9,844
  10,749
  11,693
  12,675
  13,697
  14,759
  15,863
  17,010
  18,202
  19,441
  20,730
  22,070
  23,464
  24,915
  26,427
  28,002
  29,644
  31,357
  33,145
  35,011
  36,960
  38,996
  41,125
  43,352
  45,681
Revenue / Adjusted assets
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
  0.854
Average production assets, $m
  912
  1,031
  1,156
  1,288
  1,426
  1,572
  1,723
  1,882
  2,047
  2,219
  2,398
  2,584
  2,777
  2,978
  3,187
  3,404
  3,629
  3,864
  4,108
  4,362
  4,627
  4,902
  5,190
  5,490
  5,803
  6,129
  6,471
  6,827
  7,200
  7,590
  7,997
Working capital, $m
  893
  830
  930
  1,036
  1,148
  1,265
  1,387
  1,515
  1,648
  1,786
  1,930
  2,080
  2,235
  2,397
  2,565
  2,739
  2,921
  3,110
  3,306
  3,511
  3,724
  3,946
  4,177
  4,419
  4,670
  4,933
  5,208
  5,495
  5,795
  6,109
  6,437
Total debt, $m
  1,438
  1,860
  2,349
  2,864
  3,407
  3,975
  4,569
  5,189
  5,836
  6,509
  7,209
  7,936
  8,692
  9,478
  10,295
  11,143
  12,026
  12,944
  13,899
  14,893
  15,929
  17,008
  18,132
  19,306
  20,530
  21,808
  23,143
  24,539
  25,997
  27,522
  29,117
Total liabilities, $m
  3,612
  4,034
  4,523
  5,038
  5,581
  6,149
  6,743
  7,363
  8,010
  8,683
  9,383
  10,110
  10,866
  11,652
  12,469
  13,317
  14,200
  15,118
  16,073
  17,067
  18,103
  19,182
  20,306
  21,480
  22,704
  23,982
  25,317
  26,713
  28,171
  29,696
  31,291
Total equity, $m
  1,806
  1,855
  2,080
  2,317
  2,566
  2,828
  3,101
  3,386
  3,683
  3,993
  4,315
  4,649
  4,997
  5,358
  5,734
  6,124
  6,530
  6,952
  7,391
  7,848
  8,325
  8,821
  9,338
  9,878
  10,441
  11,028
  11,642
  12,284
  12,955
  13,656
  14,389
Total liabilities and equity, $m
  5,418
  5,889
  6,603
  7,355
  8,147
  8,977
  9,844
  10,749
  11,693
  12,676
  13,698
  14,759
  15,863
  17,010
  18,203
  19,441
  20,730
  22,070
  23,464
  24,915
  26,428
  28,003
  29,644
  31,358
  33,145
  35,010
  36,959
  38,997
  41,126
  43,352
  45,680
Debt-to-equity ratio
  0.796
  1.000
  1.130
  1.240
  1.330
  1.410
  1.470
  1.530
  1.580
  1.630
  1.670
  1.710
  1.740
  1.770
  1.800
  1.820
  1.840
  1.860
  1.880
  1.900
  1.910
  1.930
  1.940
  1.950
  1.970
  1.980
  1.990
  2.000
  2.010
  2.020
  2.020
Adjusted equity ratio
  0.308
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  293
  370
  431
  494
  561
  632
  705
  781
  861
  944
  1,031
  1,255
  1,348
  1,445
  1,546
  1,651
  1,761
  1,874
  1,993
  2,116
  2,245
  2,379
  2,519
  2,664
  2,817
  2,976
  3,142
  3,316
  3,498
  3,688
  3,887
Depreciation, amort., depletion, $m
  159
  243
  250
  258
  266
  275
  283
  293
  302
  312
  323
  150
  161
  173
  185
  198
  211
  225
  239
  254
  269
  285
  302
  319
  337
  356
  376
  397
  419
  441
  465
Funds from operations, $m
  527
  614
  681
  752
  827
  906
  988
  1,074
  1,164
  1,257
  1,354
  1,405
  1,510
  1,618
  1,732
  1,849
  1,972
  2,099
  2,232
  2,370
  2,514
  2,664
  2,820
  2,984
  3,154
  3,332
  3,518
  3,713
  3,916
  4,129
  4,352
Change in working capital, $m
  8
  95
  101
  106
  112
  117
  122
  128
  133
  138
  144
  150
  156
  162
  168
  175
  182
  189
  196
  205
  213
  222
  231
  241
  252
  263
  275
  287
  300
  314
  328
Cash from operations, $m
  519
  519
  581
  646
  716
  789
  866
  947
  1,031
  1,118
  1,210
  1,255
  1,354
  1,457
  1,564
  1,675
  1,790
  1,910
  2,035
  2,165
  2,301
  2,442
  2,589
  2,742
  2,902
  3,069
  3,244
  3,426
  3,616
  3,816
  4,024
Maintenance CAPEX, $m
  0
  -53
  -60
  -67
  -75
  -83
  -91
  -100
  -109
  -119
  -129
  -139
  -150
  -161
  -173
  -185
  -198
  -211
  -225
  -239
  -254
  -269
  -285
  -302
  -319
  -337
  -356
  -376
  -397
  -419
  -441
New CAPEX, $m
  -187
  -120
  -125
  -132
  -139
  -145
  -152
  -159
  -165
  -172
  -179
  -186
  -193
  -201
  -209
  -217
  -226
  -235
  -244
  -254
  -265
  -276
  -287
  -300
  -313
  -327
  -341
  -357
  -373
  -390
  -408
Cash from investing activities, $m
  -183
  -173
  -185
  -199
  -214
  -228
  -243
  -259
  -274
  -291
  -308
  -325
  -343
  -362
  -382
  -402
  -424
  -446
  -469
  -493
  -519
  -545
  -572
  -602
  -632
  -664
  -697
  -733
  -770
  -809
  -849
Free cash flow, $m
  336
  346
  396
  447
  503
  561
  623
  688
  756
  827
  902
  930
  1,011
  1,095
  1,182
  1,273
  1,367
  1,465
  1,567
  1,672
  1,783
  1,897
  2,016
  2,141
  2,270
  2,405
  2,546
  2,693
  2,847
  3,007
  3,175
Issuance/(repayment) of debt, $m
  -40
  462
  489
  516
  542
  568
  594
  620
  646
  673
  700
  728
  756
  786
  817
  849
  882
  918
  955
  994
  1,035
  1,079
  1,125
  1,173
  1,224
  1,278
  1,335
  1,395
  1,458
  1,525
  1,595
Issuance/(repurchase) of shares, $m
  -134
  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  
  -170
  462
  489
  516
  542
  568
  594
  620
  646
  673
  700
  728
  756
  786
  817
  849
  882
  918
  955
  994
  1,035
  1,079
  1,125
  1,173
  1,224
  1,278
  1,335
  1,395
  1,458
  1,525
  1,595
Total cash flow (excl. dividends), $m
  166
  809
  884
  963
  1,045
  1,129
  1,217
  1,308
  1,402
  1,500
  1,602
  1,657
  1,767
  1,880
  1,998
  2,121
  2,249
  2,383
  2,522
  2,667
  2,818
  2,976
  3,141
  3,314
  3,495
  3,683
  3,881
  4,088
  4,305
  4,532
  4,770
Retained Cash Flow (-), $m
  -131
  -209
  -225
  -237
  -249
  -261
  -273
  -285
  -297
  -309
  -322
  -335
  -348
  -361
  -376
  -390
  -406
  -422
  -439
  -457
  -476
  -496
  -517
  -540
  -563
  -588
  -614
  -642
  -671
  -701
  -734
Prev. year cash balance distribution, $m
 
  160
  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
 
  759
  660
  726
  795
  868
  944
  1,023
  1,105
  1,191
  1,280
  1,323
  1,419
  1,519
  1,623
  1,731
  1,843
  1,961
  2,082
  2,209
  2,342
  2,480
  2,624
  2,774
  2,931
  3,096
  3,267
  3,447
  3,634
  3,831
  4,037
Discount rate, %
 
  5.70
  5.99
  6.28
  6.60
  6.93
  7.27
  7.64
  8.02
  8.42
  8.84
  9.28
  9.75
  10.24
  10.75
  11.29
  11.85
  12.44
  13.06
  13.72
  14.40
  15.12
  15.88
  16.67
  17.51
  18.38
  19.30
  20.27
  21.28
  22.34
  23.46
PV of cash for distribution, $m
 
  718
  587
  605
  616
  621
  619
  611
  596
  575
  548
  498
  465
  428
  389
  348
  307
  267
  228
  192
  159
  129
  103
  80
  61
  46
  33
  24
  16
  11
  7
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

Orbital ATK, Inc. develops and produces aerospace, defense, and aviation-related products to the U.S. Government, allied nations, prime contractors, and other customers in the United States and internationally. It operates through three segments: Flight Systems Group, Defense Systems Group, and Space Systems Group. The Flight Systems Group segment develops rockets that are used as small-and medium-class space launch vehicles to place satellites into Earth orbit and escape trajectories; interceptor and target vehicles for missile defense systems; suborbital launch vehicles that place payloads into various high-altitude trajectories; rocket propulsion systems for human and cargo launch vehicles; strategic missiles; missile defense interceptors and target vehicles; composite structures for military and commercial aircraft and launch structures markets; and illuminating flares and aircraft countermeasures. The Defense Systems Group segment develops and produces military ammunition; small-caliber commercial ammunition; precision weapons and munitions; high-performance gun systems; propellant and energetic materials; propulsion systems for tactical missiles and missile defense applications; strike weapons; aircraft survivability systems; fuzes and warheads; special mission aircraft; airborne missile warning systems; and defense electronics. The Space Systems Group segment offers small-and medium-class satellites that are used to enable global and regional communications and broadcasting; conduct space-related scientific research; and perform other activities related to national security. This segment also provides human-rated space systems for Earth-orbit and deep-space exploration, including re-supplying the international space station; and spacecraft components and subsystems, as well as specialized engineering and operations services. The company is headquartered in Dulles, Virginia.

FINANCIAL RATIOS  of  Orbital ATK (OA)

Valuation Ratios
P/E Ratio 21
Price to Sales 1.4
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 11.9
Price to Free Cash Flow 18.5
Growth Rates
Sales Growth Rate 31.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 78.1%
Cap. Spend. - 3 Yr. Gr. Rate 12%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 77.4%
Total Debt to Equity 79.6%
Interest Coverage 8
Management Effectiveness
Return On Assets 6.3%
Ret/ On Assets - 3 Yr. Avg. 4.9%
Return On Total Capital 9.2%
Ret/ On T. Cap. - 3 Yr. Avg. 6.8%
Return On Equity 16.8%
Return On Equity - 3 Yr. Avg. 12.9%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 22.1%
Gross Margin - 3 Yr. Avg. 21.4%
EBITDA Margin 14%
EBITDA Margin - 3 Yr. Avg. 11.9%
Operating Margin 10.6%
Oper. Margin - 3 Yr. Avg. 8.9%
Pre-Tax Margin 9.1%
Pre-Tax Margin - 3 Yr. Avg. 6.9%
Net Profit Margin 6.6%
Net Profit Margin - 3 Yr. Avg. 6.1%
Effective Tax Rate 27.5%
Eff/ Tax Rate - 3 Yr. Avg. 30.9%
Payout Ratio 23.9%

OA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OA stock intrinsic value calculation we used $4455 million for the last fiscal year's total revenue generated by Orbital ATK. The default revenue input number comes from 2016 income statement of Orbital ATK. 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 OA stock valuation model: a) initial revenue growth rate of 12.9% 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 5.7%, whose default value for OA is calculated based on our internal credit rating of Orbital ATK, 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 Orbital ATK.
    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 OA stock the variable cost ratio is equal to 86.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $117 million in the base year in the intrinsic value calculation for OA 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 4.3% for Orbital ATK.

Corporate tax rate of 27% is the nominal tax rate for Orbital ATK. 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 OA 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 OA are equal to 20.5%.

Life of production assets of 17.2 years is the average useful life of capital assets used in Orbital ATK 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 OA is equal to 16.5%. 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 - $1806 million for Orbital ATK - 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 57.922 million for Orbital ATK 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 Orbital ATK at the current share price and the inputted number of shares is $6.2 billion.

RELATED COMPANIES Price Int.Val. Rating
VSTO Vista Outdoor 22.59 39.28  str.buy
LMT Lockheed Marti 304.80 203.89  sell
BA Boeing 239.75 99.99  str.sell
NOC Northrop Grumm 272.82 368.54  buy

COMPANY NEWS

▶ ETFs with exposure to Orbital ATK, Inc. : August 18, 2017   [Aug-18-17 05:42PM  Capital Cube]
▶ Global Brass and Copper May Do Well   [Aug-17-17 04:45PM  GuruFocus.com]
▶ Gabelli & Companys Aerospace & Defense Conference   [Aug-16-17 09:08AM  Business Wire]
▶ SpaceX, ULA, Orbital ATK: 3 rocket launches scheduled for August   [11:55AM  American City Business Journals]
▶ As Wisconsin cheeses up $3B for Foxconn see the companies Arizona is giving $10M to   [Aug-03-17 05:15PM  American City Business Journals]
▶ Orbital ATK tops Street 2Q forecasts   [04:38PM  Associated Press]
▶ Orbital ATK sees big 'expansion' potential in heavy launch rocket market   [Jun-09-17 02:10PM  American City Business Journals]
▶ Greater Washington has 17 companies on Fortune 500   [Jun-07-17 06:05PM  American City Business Journals]
▶ Boeing's Anti-Missile System Called 'Capable, Credible Deterrent'   [May-31-17 04:07PM  Investor's Business Daily]
▶ Coding boot camp coming to East Valley   [02:05PM  American City Business Journals]
▶ After deadly explosion, Independence ammo plant keeps churning with $76M order   [May-24-17 01:50PM  American City Business Journals]
▶ Orbital ATK Inc Is Right on Target   [May-11-17 12:27PM  Motley Fool]
▶ Orbital ATK misses 1Q profit forecasts   [06:06AM  Associated Press]
▶ The Top Earnings Charts to Finish the Week   [May-10-17 04:38PM  Zacks]
▶ ETFs with exposure to Orbital ATK, Inc. : May 4, 2017   [May-04-17 04:13PM  Capital Cube]
▶ Phoenix wants to create high-tech manufacturing corridor on new freeway   [Apr-26-17 01:10PM  American City Business Journals]
▶ How Amazon CEO Jeff Bezos Is Funding Blue Origin   [Apr-23-17 10:13AM  Motley Fool]
Financial statements of OA
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.