Intrinsic value of OM Asset Management - OMAM

Previous Close

$18.36

  Intrinsic Value

$225.87

stock screener

  Rating & Target

str. buy

+999%

Previous close

$18.36

 
Intrinsic value

$225.87

 
Up/down potential

+999%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as OMAM.

We calculate the intrinsic value of OMAM 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  -5.01
  29.70
  27.23
  25.01
  23.01
  21.21
  19.59
  18.13
  16.81
  15.63
  14.57
  13.61
  12.75
  11.98
  11.28
  10.65
  10.09
  9.58
  9.12
  8.71
  8.34
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
  6.60
  6.44
  6.29
  6.16
Revenue, $m
  664
  861
  1,096
  1,370
  1,685
  2,042
  2,442
  2,885
  3,370
  3,897
  4,464
  5,072
  5,719
  6,404
  7,126
  7,885
  8,680
  9,511
  10,379
  11,282
  12,223
  13,201
  14,218
  15,275
  16,373
  17,514
  18,700
  19,934
  21,217
  22,552
  23,942
Variable operating expenses, $m
 
  118
  142
  171
  204
  241
  283
  330
  381
  436
  496
  532
  600
  672
  747
  827
  910
  998
  1,089
  1,183
  1,282
  1,385
  1,491
  1,602
  1,717
  1,837
  1,961
  2,091
  2,225
  2,365
  2,511
Fixed operating expenses, $m
 
  426
  437
  448
  459
  471
  482
  494
  507
  520
  533
  546
  559
  573
  588
  602
  618
  633
  649
  665
  682
  699
  716
  734
  752
  771
  791
  810
  831
  851
  873
Total operating expenses, $m
  508
  544
  579
  619
  663
  712
  765
  824
  888
  956
  1,029
  1,078
  1,159
  1,245
  1,335
  1,429
  1,528
  1,631
  1,738
  1,848
  1,964
  2,084
  2,207
  2,336
  2,469
  2,608
  2,752
  2,901
  3,056
  3,216
  3,384
Operating income, $m
  156
  317
  516
  751
  1,022
  1,330
  1,676
  2,060
  2,482
  2,941
  3,436
  3,994
  4,559
  5,158
  5,791
  6,455
  7,152
  7,881
  8,641
  9,434
  10,259
  11,118
  12,010
  12,938
  13,903
  14,906
  15,948
  17,033
  18,161
  19,335
  20,558
EBITDA, $m
  168
  347
  547
  783
  1,054
  1,364
  1,711
  2,097
  2,520
  2,981
  3,478
  4,011
  4,578
  5,179
  5,814
  6,481
  7,180
  7,912
  8,675
  9,471
  10,299
  11,161
  12,057
  12,988
  13,956
  14,963
  16,009
  17,097
  18,230
  19,408
  20,636
Interest expense (income), $m
  3
  14
  23
  36
  52
  70
  90
  112
  137
  165
  195
  227
  261
  298
  336
  377
  420
  465
  512
  561
  612
  666
  721
  778
  838
  900
  965
  1,032
  1,102
  1,174
  1,250
Earnings before tax, $m
  161
  303
  493
  714
  970
  1,260
  1,586
  1,948
  2,345
  2,776
  3,242
  3,767
  4,298
  4,861
  5,454
  6,078
  6,732
  7,415
  8,129
  8,873
  9,647
  10,452
  11,289
  12,160
  13,065
  14,005
  14,983
  16,001
  17,059
  18,161
  19,308
Tax expense, $m
  41
  82
  133
  193
  262
  340
  428
  526
  633
  750
  875
  1,017
  1,161
  1,312
  1,473
  1,641
  1,818
  2,002
  2,195
  2,396
  2,605
  2,822
  3,048
  3,283
  3,527
  3,781
  4,046
  4,320
  4,606
  4,903
  5,213
Net income, $m
  126
  222
  360
  522
  708
  920
  1,158
  1,422
  1,712
  2,027
  2,366
  2,750
  3,138
  3,548
  3,981
  4,437
  4,914
  5,413
  5,934
  6,477
  7,042
  7,630
  8,241
  8,877
  9,537
  10,224
  10,938
  11,680
  12,453
  13,257
  14,095

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  102
  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
  1,294
  1,546
  1,967
  2,459
  3,025
  3,666
  4,384
  5,179
  6,050
  6,996
  8,015
  9,106
  10,267
  11,497
  12,793
  14,156
  15,583
  17,076
  18,633
  20,255
  21,944
  23,700
  25,526
  27,423
  29,394
  31,443
  33,573
  35,787
  38,091
  40,488
  42,983
Adjusted assets (=assets-cash), $m
  1,192
  1,546
  1,967
  2,459
  3,025
  3,666
  4,384
  5,179
  6,050
  6,996
  8,015
  9,106
  10,267
  11,497
  12,793
  14,156
  15,583
  17,076
  18,633
  20,255
  21,944
  23,700
  25,526
  27,423
  29,394
  31,443
  33,573
  35,787
  38,091
  40,488
  42,983
Revenue / Adjusted assets
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
Average production assets, $m
  44
  57
  72
  90
  111
  135
  161
  190
  222
  257
  295
  335
  377
  423
  470
  520
  573
  628
  685
  745
  807
  871
  938
  1,008
  1,081
  1,156
  1,234
  1,316
  1,400
  1,488
  1,580
Working capital, $m
  0
  -126
  -160
  -200
  -246
  -298
  -357
  -421
  -492
  -569
  -652
  -741
  -835
  -935
  -1,040
  -1,151
  -1,267
  -1,389
  -1,515
  -1,647
  -1,785
  -1,927
  -2,076
  -2,230
  -2,390
  -2,557
  -2,730
  -2,910
  -3,098
  -3,293
  -3,495
Total debt, $m
  397
  659
  1,037
  1,480
  1,989
  2,567
  3,213
  3,928
  4,712
  5,563
  6,480
  7,462
  8,507
  9,614
  10,781
  12,007
  13,292
  14,635
  16,037
  17,497
  19,017
  20,597
  22,240
  23,948
  25,722
  27,566
  29,483
  31,476
  33,549
  35,706
  37,952
Total liabilities, $m
  1,130
  1,392
  1,770
  2,213
  2,722
  3,300
  3,946
  4,661
  5,445
  6,296
  7,213
  8,195
  9,240
  10,347
  11,514
  12,740
  14,025
  15,368
  16,770
  18,230
  19,750
  21,330
  22,973
  24,681
  26,455
  28,299
  30,216
  32,209
  34,282
  36,439
  38,685
Total equity, $m
  164
  155
  197
  246
  302
  367
  438
  518
  605
  700
  801
  911
  1,027
  1,150
  1,279
  1,416
  1,558
  1,708
  1,863
  2,026
  2,194
  2,370
  2,553
  2,742
  2,939
  3,144
  3,357
  3,579
  3,809
  4,049
  4,298
Total liabilities and equity, $m
  1,294
  1,547
  1,967
  2,459
  3,024
  3,667
  4,384
  5,179
  6,050
  6,996
  8,014
  9,106
  10,267
  11,497
  12,793
  14,156
  15,583
  17,076
  18,633
  20,256
  21,944
  23,700
  25,526
  27,423
  29,394
  31,443
  33,573
  35,788
  38,091
  40,488
  42,983
Debt-to-equity ratio
  2.421
  4.260
  5.270
  6.020
  6.580
  7.000
  7.330
  7.580
  7.790
  7.950
  8.090
  8.200
  8.290
  8.360
  8.430
  8.480
  8.530
  8.570
  8.610
  8.640
  8.670
  8.690
  8.710
  8.730
  8.750
  8.770
  8.780
  8.800
  8.810
  8.820
  8.830
Adjusted equity ratio
  0.056
  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
  126
  222
  360
  522
  708
  920
  1,158
  1,422
  1,712
  2,027
  2,366
  2,750
  3,138
  3,548
  3,981
  4,437
  4,914
  5,413
  5,934
  6,477
  7,042
  7,630
  8,241
  8,877
  9,537
  10,224
  10,938
  11,680
  12,453
  13,257
  14,095
Depreciation, amort., depletion, $m
  12
  30
  31
  32
  33
  34
  35
  37
  38
  40
  42
  16
  19
  21
  23
  26
  28
  31
  34
  37
  40
  43
  46
  50
  53
  57
  61
  65
  69
  73
  78
Funds from operations, $m
  88
  252
  391
  553
  741
  954
  1,193
  1,459
  1,750
  2,067
  2,408
  2,767
  3,156
  3,569
  4,005
  4,463
  4,942
  5,444
  5,968
  6,514
  7,082
  7,673
  8,288
  8,926
  9,591
  10,281
  10,999
  11,745
  12,522
  13,331
  14,173
Change in working capital, $m
  -50
  -29
  -34
  -40
  -46
  -52
  -58
  -65
  -71
  -77
  -83
  -89
  -94
  -100
  -105
  -111
  -116
  -121
  -127
  -132
  -137
  -143
  -148
  -154
  -160
  -167
  -173
  -180
  -187
  -195
  -203
Cash from operations, $m
  138
  280
  425
  593
  787
  1,006
  1,252
  1,523
  1,821
  2,143
  2,491
  2,855
  3,251
  3,669
  4,110
  4,573
  5,058
  5,566
  6,095
  6,646
  7,219
  7,816
  8,436
  9,081
  9,751
  10,447
  11,172
  11,925
  12,709
  13,526
  14,376
Maintenance CAPEX, $m
  0
  -2
  -3
  -4
  -4
  -5
  -7
  -8
  -9
  -11
  -13
  -15
  -16
  -19
  -21
  -23
  -26
  -28
  -31
  -34
  -37
  -40
  -43
  -46
  -50
  -53
  -57
  -61
  -65
  -69
  -73
New CAPEX, $m
  -14
  -13
  -15
  -18
  -21
  -24
  -26
  -29
  -32
  -35
  -37
  -40
  -43
  -45
  -48
  -50
  -52
  -55
  -57
  -60
  -62
  -65
  -67
  -70
  -72
  -75
  -78
  -81
  -85
  -88
  -92
Cash from investing activities, $m
  -284
  -15
  -18
  -22
  -25
  -29
  -33
  -37
  -41
  -46
  -50
  -55
  -59
  -64
  -69
  -73
  -78
  -83
  -88
  -94
  -99
  -105
  -110
  -116
  -122
  -128
  -135
  -142
  -150
  -157
  -165
Free cash flow, $m
  -146
  265
  407
  572
  762
  977
  1,219
  1,486
  1,779
  2,098
  2,441
  2,801
  3,192
  3,605
  4,042
  4,500
  4,980
  5,482
  6,006
  6,552
  7,120
  7,711
  8,326
  8,965
  9,629
  10,319
  11,037
  11,783
  12,560
  13,369
  14,211
Issuance/(repayment) of debt, $m
  261
  267
  379
  443
  509
  577
  646
  715
  784
  851
  917
  982
  1,045
  1,107
  1,167
  1,226
  1,285
  1,343
  1,401
  1,460
  1,520
  1,581
  1,643
  1,707
  1,774
  1,844
  1,917
  1,993
  2,073
  2,157
  2,246
Issuance/(repurchase) of shares, $m
  -99
  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  
  152
  267
  379
  443
  509
  577
  646
  715
  784
  851
  917
  982
  1,045
  1,107
  1,167
  1,226
  1,285
  1,343
  1,401
  1,460
  1,520
  1,581
  1,643
  1,707
  1,774
  1,844
  1,917
  1,993
  2,073
  2,157
  2,246
Total cash flow (excl. dividends), $m
  5
  531
  786
  1,014
  1,271
  1,554
  1,865
  2,201
  2,563
  2,949
  3,358
  3,783
  4,237
  4,712
  5,209
  5,726
  6,265
  6,826
  7,408
  8,012
  8,640
  9,292
  9,969
  10,672
  11,403
  12,163
  12,953
  13,776
  14,633
  15,526
  16,457
Retained Cash Flow (-), $m
  2
  -88
  -42
  -49
  -57
  -64
  -72
  -79
  -87
  -95
  -102
  -109
  -116
  -123
  -130
  -136
  -143
  -149
  -156
  -162
  -169
  -176
  -183
  -190
  -197
  -205
  -213
  -221
  -230
  -240
  -250
Prev. year cash balance distribution, $m
 
  97
  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
 
  541
  744
  965
  1,214
  1,490
  1,793
  2,122
  2,476
  2,854
  3,256
  3,674
  4,120
  4,589
  5,079
  5,590
  6,122
  6,676
  7,252
  7,850
  8,471
  9,116
  9,786
  10,482
  11,206
  11,958
  12,740
  13,555
  14,403
  15,286
  16,207
Discount rate, %
 
  5.30
  5.57
  5.84
  6.14
  6.44
  6.76
  7.10
  7.46
  7.83
  8.22
  8.63
  9.06
  9.52
  9.99
  10.49
  11.02
  11.57
  12.15
  12.76
  13.39
  14.06
  14.77
  15.50
  16.28
  17.09
  17.95
  18.85
  19.79
  20.78
  21.82
PV of cash for distribution, $m
 
  514
  667
  814
  957
  1,091
  1,211
  1,313
  1,393
  1,448
  1,478
  1,477
  1,455
  1,407
  1,338
  1,251
  1,150
  1,038
  921
  802
  686
  575
  473
  381
  300
  231
  174
  128
  92
  64
  44
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

OM Asset Management plc is a global, diversified, multi-boutique asset management company. As of December 31, 2016, the Company operated its business through its eight Affiliates, each of which operated autonomously and employed its own investment processes. Its Affiliates include Acadian Asset Management LLC; Barrow, Hanley, Mewhinney & Strauss, LLC; Campbell Global, LLC; Copper Rock Capital Partners LLC; Heitman LLC; Investment Counselors of Maryland, LLC; Landmark Partners, LLC, and Thompson, Siegel & Walmsley LLC. It works with boutique asset managers, and the Company leverages the resources within its organization to engage with its Affiliates and provide them with capabilities unavailable to specialist asset management firms. The Company works with its Affiliates to identify and execute upon opportunities for their businesses in areas, such as business line expansion and product development, as well as activities required for the operation of investment boutiques.

FINANCIAL RATIOS  of  OM Asset Management (OMAM)

Valuation Ratios
P/E Ratio 16.6
Price to Sales 3.2
Price to Book 12.8
Price to Tangible Book
Price to Cash Flow 15.2
Price to Free Cash Flow 16.9
Growth Rates
Sales Growth Rate -5%
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 7%
Financial Strength
Quick Ratio 20
Current Ratio NaN
LT Debt to Equity 239%
Total Debt to Equity 242.1%
Interest Coverage 55
Management Effectiveness
Return On Assets 11.1%
Ret/ On Assets - 3 Yr. Avg. 5.5%
Return On Total Capital 30.8%
Ret/ On T. Cap. - 3 Yr. Avg. 12.9%
Return On Equity 76.4%
Return On Equity - 3 Yr. Avg. 68.2%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 26.5%
EBITDA Margin - 3 Yr. Avg. 20.1%
Operating Margin 23.5%
Oper. Margin - 3 Yr. Avg. 14.8%
Pre-Tax Margin 24.2%
Pre-Tax Margin - 3 Yr. Avg. 16.7%
Net Profit Margin 19%
Net Profit Margin - 3 Yr. Avg. 15.4%
Effective Tax Rate 25.5%
Eff/ Tax Rate - 3 Yr. Avg. 2.6%
Payout Ratio 31%

OMAM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OMAM stock intrinsic value calculation we used $664 million for the last fiscal year's total revenue generated by OM Asset Management. The default revenue input number comes from 2016 income statement of OM Asset Management. 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 OMAM stock valuation model: a) initial revenue growth rate of 29.7% 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 5.3%, whose default value for OMAM is calculated based on our internal credit rating of OM Asset Management, 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 OM Asset Management.
    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 OMAM stock the variable cost ratio is equal to 14.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $416 million in the base year in the intrinsic value calculation for OMAM 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 OM Asset Management.

Corporate tax rate of 27% is the nominal tax rate for OM Asset Management. 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 OMAM 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 OMAM are equal to 6.6%.

Life of production assets of 20.3 years is the average useful life of capital assets used in OM Asset Management 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 OMAM is equal to -14.6%. 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 - $164 million for OM Asset Management - 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 110.448 million for OM Asset Management 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 OM Asset Management at the current share price and the inputted number of shares is $2.0 billion.

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COMPANY NEWS

▶ Top Ranked Value Stocks to Buy for January 17th   [Jan-17-18 07:19AM  Zacks]
▶ Heitman Redeems OM Asset Management's Interest in Firm   [Jan-08-18 08:30AM  PR Newswire]
▶ Top Ranked Value Stocks to Buy for January 5th   [Jan-05-18 06:57AM  Zacks]
▶ Top Ranked Value Stocks to Buy for January 3rd   [Jan-03-18 05:25AM  Zacks]
▶ OMAM Announces Closing of Secondary Offering   [Nov-17-17 04:05PM  Business Wire]
▶ OMAM Announces Pricing of Secondary Offering   [Nov-15-17 09:14AM  Business Wire]
▶ OMAM Announces Launch of Secondary Offering   [Nov-14-17 04:15PM  Business Wire]
▶ OM Asset Management beats 3Q profit forecasts   [08:53AM  Associated Press]
▶ Top-Rated Stocks: OM Asset Management Sees Composite Rating Climb To 96   [Oct-27-17 03:00AM  Investor's Business Daily]
▶ OM Asset Management beats 2Q profit forecasts   [Aug-03-17 07:04PM  Associated Press]
▶ Is Om Asset a Great Stock for Value Investors?   [Jul-25-17 09:30AM  Zacks]
▶ OMAM Announces CEO Succession Process   [Jun-29-17 04:07PM  Business Wire]
▶ OMAM Announces Full Exercise of Over-Allotment Option   [Jun-14-17 04:38PM  Business Wire]
▶ OMAM Announces Closing of Secondary Offering   [May-19-17 04:03PM  Business Wire]
▶ OMAM Announces Pricing of Secondary Offering   [May-15-17 09:39PM  Business Wire]
▶ IPO Stock News And Analysis: Find Today's Top New Issues   [10:45AM  Investor's Business Daily]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [May-10-17 11:42AM  Investor's Business Daily]
▶ No. 1-Ranked Asset Management Stock Tests New Buy Zone   [11:40AM  Investor's Business Daily]
▶ OM Asset Management meets 1Q profit forecasts   [May-04-17 08:45AM  Associated Press]
▶ [$$] Chinese Conglomerate HNA to Buy Stake in U.S. Asset Manager   [Mar-27-17 12:06AM  The Wall Street Journal]
▶ [$$] Chinese Conglomerate HNA to Buy Stake in U.S. Asset Manager   [Mar-26-17 05:36AM  at The Wall Street Journal]
▶ Top Ranked Value Stocks to Buy for March 7th   [Mar-07-17 09:21AM  Zacks]
Financial statements of OMAM
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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