Intrinsic value of Old Republic International - ORI

Previous Close

$19.11

  Intrinsic Value

$35.19

stock screener

  Rating & Target

str. buy

+84%

  Value-price divergence*

0%

Previous close

$19.11

 
Intrinsic value

$35.19

 
Up/down potential

+84%

 
Rating

str. buy

 
Value-price divergence*

0%

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

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

We calculate the intrinsic value of ORI 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 5.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.34
  2.20
  2.48
  2.73
  2.96
  3.16
  3.35
  3.51
  3.66
  3.79
  3.92
  4.02
  4.12
  4.21
  4.29
  4.36
  4.42
  4.48
  4.53
  4.58
  4.62
  4.66
  4.69
  4.72
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
Revenue, $m
  0
  6,031
  6,180
  6,349
  6,537
  6,744
  6,970
  7,214
  7,478
  7,762
  8,066
  8,391
  8,736
  9,104
  9,495
  9,909
  10,347
  10,810
  11,301
  11,818
  12,364
  12,940
  13,548
  14,188
  14,862
  15,572
  16,319
  17,106
  17,933
  18,803
  19,719
Variable operating expenses, $m
 
  3,214
  3,294
  3,384
  3,484
  3,594
  3,715
  3,845
  3,986
  4,137
  4,299
  4,472
  4,657
  4,853
  5,061
  5,281
  5,515
  5,762
  6,023
  6,299
  6,590
  6,897
  7,221
  7,562
  7,921
  8,300
  8,698
  9,117
  9,558
  10,022
  10,510
Fixed operating expenses, $m
 
  2,119
  2,172
  2,226
  2,282
  2,339
  2,397
  2,457
  2,518
  2,581
  2,646
  2,712
  2,780
  2,849
  2,921
  2,994
  3,068
  3,145
  3,224
  3,304
  3,387
  3,472
  3,558
  3,647
  3,739
  3,832
  3,928
  4,026
  4,127
  4,230
  4,336
Total operating expenses, $m
  5,164
  5,333
  5,466
  5,610
  5,766
  5,933
  6,112
  6,302
  6,504
  6,718
  6,945
  7,184
  7,437
  7,702
  7,982
  8,275
  8,583
  8,907
  9,247
  9,603
  9,977
  10,369
  10,779
  11,209
  11,660
  12,132
  12,626
  13,143
  13,685
  14,252
  14,846
Operating income, $m
  736
  698
  715
  739
  771
  811
  858
  912
  974
  1,044
  1,121
  1,206
  1,300
  1,402
  1,513
  1,634
  1,764
  1,903
  2,054
  2,215
  2,387
  2,571
  2,768
  2,978
  3,202
  3,440
  3,693
  3,962
  4,248
  4,551
  4,873
EBITDA, $m
  736
  698
  715
  739
  771
  811
  858
  912
  974
  1,044
  1,121
  1,206
  1,300
  1,402
  1,513
  1,634
  1,764
  1,903
  2,054
  2,215
  2,387
  2,571
  2,768
  2,978
  3,202
  3,440
  3,693
  3,962
  4,248
  4,551
  4,873
Interest expense (income), $m
  41
  54
  65
  77
  91
  107
  124
  143
  164
  186
  210
  235
  262
  291
  322
  355
  390
  426
  465
  506
  550
  595
  644
  695
  748
  805
  864
  927
  993
  1,062
  1,135
Earnings before tax, $m
  686
  644
  650
  662
  680
  704
  733
  769
  810
  858
  911
  971
  1,038
  1,111
  1,191
  1,279
  1,374
  1,477
  1,588
  1,708
  1,837
  1,976
  2,125
  2,284
  2,454
  2,635
  2,829
  3,035
  3,255
  3,489
  3,738
Tax expense, $m
  219
  174
  175
  179
  184
  190
  198
  208
  219
  232
  246
  262
  280
  300
  322
  345
  371
  399
  429
  461
  496
  534
  574
  617
  662
  712
  764
  820
  879
  942
  1,009
Net income, $m
  467
  470
  474
  483
  496
  514
  535
  561
  591
  626
  665
  709
  757
  811
  870
  933
  1,003
  1,078
  1,159
  1,247
  1,341
  1,442
  1,551
  1,667
  1,791
  1,924
  2,065
  2,216
  2,376
  2,547
  2,729

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
  0
Total assets, $m
  18,592
  19,025
  19,496
  20,029
  20,622
  21,274
  21,986
  22,758
  23,591
  24,486
  25,445
  26,469
  27,560
  28,720
  29,951
  31,257
  32,640
  34,103
  35,648
  37,281
  39,004
  40,821
  42,737
  44,756
  46,883
  49,123
  51,480
  53,961
  56,571
  59,317
  62,204
Adjusted assets (=assets-cash), $m
  18,592
  19,025
  19,496
  20,029
  20,622
  21,274
  21,986
  22,758
  23,591
  24,486
  25,445
  26,469
  27,560
  28,720
  29,951
  31,257
  32,640
  34,103
  35,648
  37,281
  39,004
  40,821
  42,737
  44,756
  46,883
  49,123
  51,480
  53,961
  56,571
  59,317
  62,204
Revenue / Adjusted assets
  0.000
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
  0.317
Average production assets, $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
  0
Working capital, $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
  0
Total debt, $m
  1,529
  1,849
  2,207
  2,611
  3,061
  3,556
  4,096
  4,682
  5,315
  5,994
  6,722
  7,499
  8,327
  9,207
  10,142
  11,133
  12,183
  13,293
  14,466
  15,705
  17,013
  18,392
  19,847
  21,379
  22,993
  24,693
  26,482
  28,365
  30,347
  32,430
  34,622
Total liabilities, $m
  14,120
  14,440
  14,798
  15,202
  15,652
  16,147
  16,687
  17,273
  17,906
  18,585
  19,313
  20,090
  20,918
  21,798
  22,733
  23,724
  24,774
  25,884
  27,057
  28,296
  29,604
  30,983
  32,438
  33,970
  35,584
  37,284
  39,073
  40,956
  42,938
  45,021
  47,213
Total equity, $m
  4,472
  4,585
  4,699
  4,827
  4,970
  5,127
  5,299
  5,485
  5,685
  5,901
  6,132
  6,379
  6,642
  6,921
  7,218
  7,533
  7,866
  8,219
  8,591
  8,985
  9,400
  9,838
  10,300
  10,786
  11,299
  11,839
  12,407
  13,005
  13,634
  14,295
  14,991
Total liabilities and equity, $m
  18,592
  19,025
  19,497
  20,029
  20,622
  21,274
  21,986
  22,758
  23,591
  24,486
  25,445
  26,469
  27,560
  28,719
  29,951
  31,257
  32,640
  34,103
  35,648
  37,281
  39,004
  40,821
  42,738
  44,756
  46,883
  49,123
  51,480
  53,961
  56,572
  59,316
  62,204
Debt-to-equity ratio
  0.342
  0.400
  0.470
  0.540
  0.620
  0.690
  0.770
  0.850
  0.930
  1.020
  1.100
  1.180
  1.250
  1.330
  1.410
  1.480
  1.550
  1.620
  1.680
  1.750
  1.810
  1.870
  1.930
  1.980
  2.040
  2.090
  2.130
  2.180
  2.230
  2.270
  2.310
Adjusted equity ratio
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241
  0.241

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  467
  470
  474
  483
  496
  514
  535
  561
  591
  626
  665
  709
  757
  811
  870
  933
  1,003
  1,078
  1,159
  1,247
  1,341
  1,442
  1,551
  1,667
  1,791
  1,924
  2,065
  2,216
  2,376
  2,547
  2,729
Depreciation, amort., depletion, $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
  0
Funds from operations, $m
  880
  470
  474
  483
  496
  514
  535
  561
  591
  626
  665
  709
  757
  811
  870
  933
  1,003
  1,078
  1,159
  1,247
  1,341
  1,442
  1,551
  1,667
  1,791
  1,924
  2,065
  2,216
  2,376
  2,547
  2,729
Change in working capital, $m
  243
  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 operations, $m
  637
  470
  474
  483
  496
  514
  535
  561
  591
  626
  665
  709
  757
  811
  870
  933
  1,003
  1,078
  1,159
  1,247
  1,341
  1,442
  1,551
  1,667
  1,791
  1,924
  2,065
  2,216
  2,376
  2,547
  2,729
Maintenance CAPEX, $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
  0
New CAPEX, $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
  0
Cash from investing activities, $m
  -1,036
  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
Free cash flow, $m
  -399
  470
  474
  483
  496
  514
  535
  561
  591
  626
  665
  709
  757
  811
  870
  933
  1,003
  1,078
  1,159
  1,247
  1,341
  1,442
  1,551
  1,667
  1,791
  1,924
  2,065
  2,216
  2,376
  2,547
  2,729
Issuance/(repayment) of debt, $m
  573
  320
  358
  404
  450
  495
  540
  586
  632
  679
  728
  777
  828
  880
  935
  991
  1,049
  1,110
  1,173
  1,239
  1,308
  1,379
  1,454
  1,532
  1,614
  1,700
  1,789
  1,883
  1,981
  2,084
  2,192
Issuance/(repurchase) of shares, $m
  8
  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  
  579
  320
  358
  404
  450
  495
  540
  586
  632
  679
  728
  777
  828
  880
  935
  991
  1,049
  1,110
  1,173
  1,239
  1,308
  1,379
  1,454
  1,532
  1,614
  1,700
  1,789
  1,883
  1,981
  2,084
  2,192
Total cash flow (excl. dividends), $m
  180
  790
  833
  887
  946
  1,009
  1,076
  1,147
  1,224
  1,305
  1,393
  1,486
  1,585
  1,691
  1,804
  1,924
  2,052
  2,188
  2,333
  2,486
  2,649
  2,822
  3,005
  3,199
  3,405
  3,623
  3,854
  4,099
  4,357
  4,631
  4,920
Retained Cash Flow (-), $m
  -591
  -113
  -114
  -128
  -143
  -157
  -172
  -186
  -201
  -216
  -231
  -247
  -263
  -280
  -297
  -315
  -333
  -352
  -373
  -393
  -415
  -438
  -462
  -487
  -513
  -540
  -568
  -598
  -629
  -662
  -696
Prev. year cash balance distribution, $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 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
 
  677
  719
  759
  803
  852
  904
  961
  1,023
  1,090
  1,162
  1,239
  1,323
  1,412
  1,507
  1,610
  1,719
  1,836
  1,960
  2,093
  2,234
  2,384
  2,543
  2,713
  2,893
  3,084
  3,286
  3,501
  3,728
  3,969
  4,224
Discount rate, %
 
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
 
  639
  637
  628
  617
  602
  585
  564
  540
  514
  484
  452
  417
  381
  344
  307
  270
  234
  200
  168
  139
  112
  89
  70
  53
  40
  29
  20
  14
  10
  6
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

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business. The General Insurance Group segment offers automobile extended warranty, aviation, commercial automobile, commercial multi-peril, general liability, home warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, directors and officers, fidelity, guaranteed asset protection, and surety. This segment offers its insurance products for businesses, government, and other institutions in transportation, commercial construction, healthcare, education, retail and wholesale, forest products, energy, general manufacturing, and financial services industries. The Title Insurance Group segment provides lenders' and owners' title insurance policies to real estate purchasers and investors based upon searches of the public records. This segment also offers escrow closing and construction disbursement services; and real estate information products, national default management services, and other services pertaining to real estate transfers and loan transactions. The Republic Financial Indemnity Group Run-off Business segment provides private mortgage insurance coverage that protects mortgage lenders and investors from default related losses on residential mortgage loans made primarily to homebuyers. This segment is also involved in the consumer credit indemnity run-off business. Old Republic International Corporation was founded in 1887 and is based in Chicago, Illinois.

FINANCIAL RATIOS  of  Old Republic International (ORI)

Valuation Ratios
P/E Ratio 10.8
Price to Sales 0.9
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 7.9
Price to Free Cash Flow 7.9
Growth Rates
Sales Growth Rate 2.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 34.2%
Total Debt to Equity 34.2%
Interest Coverage 18
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. 2.6%
Return On Total Capital 8.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.7%
Return On Equity 11.2%
Return On Equity - 3 Yr. Avg. 10.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 11.8%
Operating Margin 12.5%
Oper. Margin - 3 Yr. Avg. 11.9%
Pre-Tax Margin 11.6%
Pre-Tax Margin - 3 Yr. Avg. 11.2%
Net Profit Margin 7.9%
Net Profit Margin - 3 Yr. Avg. 7.5%
Effective Tax Rate 31.9%
Eff/ Tax Rate - 3 Yr. Avg. 32.6%
Payout Ratio 41.5%

ORI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ORI stock intrinsic value calculation we used $5901 million for the last fiscal year's total revenue generated by Old Republic International. The default revenue input number comes from 2016 income statement of Old Republic 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 ORI stock valuation model: a) initial revenue growth rate of 2.2% 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 5.9%, whose default value for ORI is calculated based on our internal credit rating of Old Republic 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 Old Republic 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 ORI stock the variable cost ratio is equal to 53.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2067 million in the base year in the intrinsic value calculation for ORI 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 Old Republic International.

Corporate tax rate of 27% is the nominal tax rate for Old Republic 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 ORI 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 ORI are equal to 0%.

Life of production assets of 10 years is the average useful life of capital assets used in Old Republic 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 ORI is equal to 0%. 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 - $4472 million for Old Republic 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 260.766 million for Old Republic 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 Old Republic International at the current share price and the inputted number of shares is $5.0 billion.

RELATED COMPANIES Price Int.Val. Rating
RLI RLI 54.09 56.72  hold
FAF First American 48.15 110.51  str.buy
STC Stewart Inform 36.54 18.14  str.sell
Y Alleghany 578.98 657.06  hold
MCY Mercury Genera 58.00 27.48  sell

COMPANY NEWS

▶ Old Republic posts 2Q profit   [Jul-28-17 01:36AM  Associated Press]
▶ The Top Dividend-Growing Financial Sector Stocks   [Jul-12-17 02:44PM  Market Realist]
▶ Old Republic posts 1Q profit   [Apr-27-17 09:22AM  Associated Press]
▶ Why Public Liability Insurance Is Ignored Among Insurers   [Mar-28-17 05:13PM  GuruFocus.com]
▶ Hedge Funds Like What Panera Bread Co (PNRA) Is Cooking Up   [Nov-23-16 09:14PM  at Insider Monkey]
▶ [$$] Starboard Values Stewart Information Services   [Aug-20-16 12:01AM  at Barrons.com]
Stock chart of ORI Financial statements of ORI
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.