Intrinsic value of OM Asset Management - OMAM

Previous Close

$13.34

  Intrinsic Value

$233.86

stock screener

  Rating & Target

str. buy

+999%

  Value-price divergence*

+5000%

Previous close

$13.34

 
Intrinsic value

$233.86

 
Up/down potential

+999%

 
Rating

str. buy

 
Value-price divergence*

+5000%

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

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

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

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, %
  -5.01
  30.70
  28.13
  25.82
  23.74
  21.86
  20.18
  18.66
  17.29
  16.06
  14.96
  13.96
  13.06
  12.26
  11.53
  10.88
  10.29
  9.76
  9.29
  8.86
  8.47
  8.12
  7.81
  7.53
  7.28
  7.05
  6.84
  6.66
  6.49
  6.35
  6.21
Revenue, $m
  664
  868
  1,112
  1,399
  1,731
  2,110
  2,535
  3,008
  3,528
  4,095
  4,708
  5,365
  6,066
  6,809
  7,595
  8,421
  9,288
  10,194
  11,141
  12,128
  13,155
  14,224
  15,335
  16,490
  17,690
  18,937
  20,233
  21,581
  22,983
  24,441
  25,959
Variable operating expenses, $m
 
  118
  144
  174
  209
  249
  293
  343
  397
  457
  521
  563
  636
  714
  797
  883
  974
  1,069
  1,169
  1,272
  1,380
  1,492
  1,608
  1,730
  1,855
  1,986
  2,122
  2,264
  2,411
  2,564
  2,723
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
  581
  622
  668
  720
  775
  837
  904
  977
  1,054
  1,109
  1,195
  1,287
  1,385
  1,485
  1,592
  1,702
  1,818
  1,937
  2,062
  2,191
  2,324
  2,464
  2,607
  2,757
  2,913
  3,074
  3,242
  3,415
  3,596
Operating income, $m
  156
  323
  531
  777
  1,063
  1,390
  1,760
  2,171
  2,624
  3,119
  3,654
  4,256
  4,870
  5,522
  6,210
  6,935
  7,696
  8,492
  9,324
  10,191
  11,094
  12,033
  13,011
  14,026
  15,082
  16,180
  17,321
  18,507
  19,742
  21,026
  22,364
EBITDA, $m
  168
  353
  562
  809
  1,096
  1,425
  1,795
  2,208
  2,663
  3,159
  3,697
  4,274
  4,890
  5,544
  6,235
  6,963
  7,726
  8,525
  9,360
  10,230
  11,136
  12,080
  13,060
  14,080
  15,140
  16,241
  17,387
  18,577
  19,816
  21,106
  22,448
Interest expense (income), $m
  3
  14
  25
  39
  56
  75
  97
  122
  150
  180
  213
  249
  287
  328
  372
  417
  466
  516
  569
  624
  682
  742
  804
  869
  936
  1,006
  1,079
  1,155
  1,233
  1,315
  1,400
Earnings before tax, $m
  161
  309
  506
  738
  1,007
  1,315
  1,662
  2,049
  2,474
  2,939
  3,441
  4,007
  4,583
  5,194
  5,839
  6,518
  7,230
  7,976
  8,755
  9,566
  10,412
  11,292
  12,206
  13,157
  14,146
  15,173
  16,242
  17,353
  18,508
  19,711
  20,964
Tax expense, $m
  41
  84
  137
  199
  272
  355
  449
  553
  668
  793
  929
  1,082
  1,237
  1,402
  1,576
  1,760
  1,952
  2,153
  2,364
  2,583
  2,811
  3,049
  3,296
  3,553
  3,819
  4,097
  4,385
  4,685
  4,997
  5,322
  5,660
Net income, $m
  126
  226
  369
  539
  735
  960
  1,213
  1,496
  1,806
  2,145
  2,512
  2,925
  3,345
  3,791
  4,262
  4,758
  5,278
  5,822
  6,391
  6,983
  7,601
  8,243
  8,911
  9,605
  10,327
  11,077
  11,856
  12,667
  13,511
  14,389
  15,303

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
  1,607
  2,059
  2,591
  3,206
  3,907
  4,695
  5,571
  6,534
  7,584
  8,718
  9,935
  11,233
  12,610
  14,064
  15,594
  17,199
  18,878
  20,631
  22,459
  24,361
  26,341
  28,398
  30,537
  32,759
  35,069
  37,469
  39,965
  42,561
  45,261
  48,072
Adjusted assets (=assets-cash), $m
  1,192
  1,607
  2,059
  2,591
  3,206
  3,907
  4,695
  5,571
  6,534
  7,584
  8,718
  9,935
  11,233
  12,610
  14,064
  15,594
  17,199
  18,878
  20,631
  22,459
  24,361
  26,341
  28,398
  30,537
  32,759
  35,069
  37,469
  39,965
  42,561
  45,261
  48,072
Revenue / Adjusted assets
  0.557
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
Average production assets, $m
  44
  57
  73
  92
  114
  139
  167
  199
  233
  270
  311
  354
  400
  449
  501
  556
  613
  673
  735
  800
  868
  939
  1,012
  1,088
  1,168
  1,250
  1,335
  1,424
  1,517
  1,613
  1,713
Working capital, $m
  0
  -87
  -111
  -140
  -173
  -211
  -254
  -301
  -353
  -410
  -471
  -536
  -607
  -681
  -759
  -842
  -929
  -1,019
  -1,114
  -1,213
  -1,316
  -1,422
  -1,534
  -1,649
  -1,769
  -1,894
  -2,023
  -2,158
  -2,298
  -2,444
  -2,596
Total debt, $m
  397
  713
  1,120
  1,599
  2,152
  2,783
  3,492
  4,281
  5,148
  6,092
  7,113
  8,209
  9,377
  10,616
  11,925
  13,302
  14,746
  16,257
  17,835
  19,480
  21,192
  22,974
  24,826
  26,750
  28,750
  30,829
  32,989
  35,236
  37,572
  40,002
  42,532
Total liabilities, $m
  1,130
  1,446
  1,853
  2,332
  2,885
  3,516
  4,225
  5,014
  5,881
  6,825
  7,846
  8,942
  10,110
  11,349
  12,658
  14,035
  15,479
  16,990
  18,568
  20,213
  21,925
  23,707
  25,559
  27,483
  29,483
  31,562
  33,722
  35,969
  38,305
  40,735
  43,265
Total equity, $m
  164
  161
  206
  259
  321
  391
  469
  557
  653
  758
  872
  994
  1,123
  1,261
  1,406
  1,559
  1,720
  1,888
  2,063
  2,246
  2,436
  2,634
  2,840
  3,054
  3,276
  3,507
  3,747
  3,997
  4,256
  4,526
  4,807
Total liabilities and equity, $m
  1,294
  1,607
  2,059
  2,591
  3,206
  3,907
  4,694
  5,571
  6,534
  7,583
  8,718
  9,936
  11,233
  12,610
  14,064
  15,594
  17,199
  18,878
  20,631
  22,459
  24,361
  26,341
  28,399
  30,537
  32,759
  35,069
  37,469
  39,966
  42,561
  45,261
  48,072
Debt-to-equity ratio
  2.421
  4.440
  5.440
  6.170
  6.710
  7.120
  7.440
  7.680
  7.880
  8.030
  8.160
  8.260
  8.350
  8.420
  8.480
  8.530
  8.570
  8.610
  8.640
  8.670
  8.700
  8.720
  8.740
  8.760
  8.780
  8.790
  8.800
  8.820
  8.830
  8.840
  8.850
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
  226
  369
  539
  735
  960
  1,213
  1,496
  1,806
  2,145
  2,512
  2,925
  3,345
  3,791
  4,262
  4,758
  5,278
  5,822
  6,391
  6,983
  7,601
  8,243
  8,911
  9,605
  10,327
  11,077
  11,856
  12,667
  13,511
  14,389
  15,303
Depreciation, amort., depletion, $m
  12
  30
  31
  32
  33
  34
  36
  37
  39
  41
  43
  17
  20
  22
  25
  27
  30
  33
  36
  39
  43
  46
  50
  54
  58
  62
  66
  70
  75
  79
  84
Funds from operations, $m
  88
  256
  400
  570
  768
  994
  1,249
  1,533
  1,845
  2,186
  2,554
  2,943
  3,365
  3,813
  4,287
  4,785
  5,308
  5,856
  6,427
  7,023
  7,643
  8,289
  8,961
  9,659
  10,384
  11,138
  11,922
  12,738
  13,586
  14,469
  15,388
Change in working capital, $m
  -50
  -20
  -24
  -29
  -33
  -38
  -43
  -47
  -52
  -57
  -61
  -66
  -70
  -74
  -79
  -83
  -87
  -91
  -95
  -99
  -103
  -107
  -111
  -115
  -120
  -125
  -130
  -135
  -140
  -146
  -152
Cash from operations, $m
  138
  276
  425
  599
  801
  1,032
  1,291
  1,580
  1,897
  2,243
  2,616
  3,009
  3,435
  3,888
  4,366
  4,868
  5,395
  5,946
  6,522
  7,122
  7,746
  8,396
  9,072
  9,774
  10,504
  11,263
  12,052
  12,872
  13,726
  14,614
  15,540
Maintenance CAPEX, $m
  0
  -2
  -3
  -4
  -5
  -6
  -7
  -8
  -10
  -11
  -13
  -15
  -17
  -20
  -22
  -25
  -27
  -30
  -33
  -36
  -39
  -43
  -46
  -50
  -54
  -58
  -62
  -66
  -70
  -75
  -79
New CAPEX, $m
  -14
  -14
  -16
  -19
  -22
  -25
  -28
  -31
  -34
  -37
  -40
  -43
  -46
  -49
  -52
  -55
  -57
  -60
  -62
  -65
  -68
  -71
  -73
  -76
  -79
  -82
  -86
  -89
  -93
  -96
  -100
Cash from investing activities, $m
  -284
  -16
  -19
  -23
  -27
  -31
  -35
  -39
  -44
  -48
  -53
  -58
  -63
  -69
  -74
  -80
  -84
  -90
  -95
  -101
  -107
  -114
  -119
  -126
  -133
  -140
  -148
  -155
  -163
  -171
  -179
Free cash flow, $m
  -146
  260
  406
  577
  775
  1,001
  1,257
  1,540
  1,853
  2,194
  2,562
  2,950
  3,372
  3,819
  4,292
  4,789
  5,310
  5,856
  6,426
  7,020
  7,639
  8,283
  8,952
  9,648
  10,371
  11,123
  11,905
  12,718
  13,563
  14,443
  15,360
Issuance/(repayment) of debt, $m
  261
  321
  407
  478
  553
  631
  709
  788
  867
  945
  1,021
  1,095
  1,168
  1,239
  1,309
  1,377
  1,444
  1,511
  1,578
  1,645
  1,712
  1,781
  1,852
  1,925
  2,000
  2,079
  2,160
  2,246
  2,336
  2,430
  2,530
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
  321
  407
  478
  553
  631
  709
  788
  867
  945
  1,021
  1,095
  1,168
  1,239
  1,309
  1,377
  1,444
  1,511
  1,578
  1,645
  1,712
  1,781
  1,852
  1,925
  2,000
  2,079
  2,160
  2,246
  2,336
  2,430
  2,530
Total cash flow (excl. dividends), $m
  5
  582
  813
  1,055
  1,328
  1,632
  1,966
  2,329
  2,720
  3,138
  3,583
  4,045
  4,540
  5,058
  5,600
  6,166
  6,755
  7,367
  8,004
  8,665
  9,351
  10,064
  10,804
  11,573
  12,371
  13,202
  14,065
  14,964
  15,899
  16,874
  17,890
Retained Cash Flow (-), $m
  2
  -56
  -45
  -53
  -61
  -70
  -79
  -88
  -96
  -105
  -113
  -122
  -130
  -138
  -145
  -153
  -160
  -168
  -175
  -183
  -190
  -198
  -206
  -214
  -222
  -231
  -240
  -250
  -260
  -270
  -281
Prev. year cash balance distribution, $m
 
  60
  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
 
  585
  767
  1,002
  1,267
  1,562
  1,887
  2,241
  2,624
  3,033
  3,469
  3,924
  4,410
  4,921
  5,455
  6,013
  6,594
  7,199
  7,829
  8,482
  9,161
  9,866
  10,598
  11,359
  12,149
  12,971
  13,825
  14,714
  15,640
  16,604
  17,609
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
 
  556
  689
  845
  998
  1,143
  1,274
  1,386
  1,476
  1,539
  1,574
  1,578
  1,557
  1,509
  1,438
  1,346
  1,238
  1,120
  994
  867
  742
  623
  512
  413
  325
  251
  189
  139
  100
  70
  47
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 Limited is a privately owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries. The firm was founded in 1980 is based Boston, Massachusetts. OM Asset Management plc operates as a subsidiary of Old Mutual Global Investors.

FINANCIAL RATIOS  of  OM Asset Management (OMAM)

Valuation Ratios
P/E Ratio 12.1
Price to Sales 2.3
Price to Book 9.3
Price to Tangible Book
Price to Cash Flow 11
Price to Free Cash Flow 12.3
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 30.7% 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 -10%. 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 113.816 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 $1.5 billion.

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COMPANY NEWS

▶ 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]
▶ OMAM Announces Pricing of Secondary Offering   [Dec-13-16 10:15PM  Business Wire]
▶ Steelcase Inc. (SCS): Are Hedge Funds Right About This Stock?   [Dec-02-16 09:18AM  at Insider Monkey]
▶ [$$] Deal Close Announcements: Aug. 15-19   [Aug-19-16 06:23PM  at The Wall Street Journal]
▶ OMAM Completes Investment in Landmark Partners   [Aug-18-16 04:08PM  Business Wire]
▶ OMAM Raises $400 Million in Note Offerings   [Jul-27-16 05:26PM  Business Wire]
Stock chart of OMAM 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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