Intrinsic value of Outfront Media - OUT

Previous Close

$21.99

  Intrinsic Value

$11.09

stock screener

  Rating & Target

sell

-50%

  Value-price divergence*

-64%

Previous close

$21.99

 
Intrinsic value

$11.09

 
Up/down potential

-50%

 
Rating

sell

 
Value-price divergence*

-64%

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

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

We calculate the intrinsic value of OUT 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 3.0

 

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, %
  0.00
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,514
  1,544
  1,580
  1,620
  1,666
  1,716
  1,772
  1,832
  1,898
  1,968
  2,043
  2,124
  2,210
  2,302
  2,400
  2,503
  2,613
  2,729
  2,852
  2,982
  3,119
  3,263
  3,416
  3,576
  3,746
  3,924
  4,112
  4,309
  4,517
  4,736
  4,966
Variable operating expenses, $m
 
  1,452
  1,481
  1,513
  1,550
  1,591
  1,635
  1,684
  1,736
  1,793
  1,854
  1,710
  1,779
  1,853
  1,932
  2,015
  2,104
  2,197
  2,296
  2,400
  2,511
  2,627
  2,750
  2,879
  3,015
  3,159
  3,310
  3,469
  3,637
  3,813
  3,998
Fixed operating expenses, $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
Total operating expenses, $m
  1,309
  1,452
  1,481
  1,513
  1,550
  1,591
  1,635
  1,684
  1,736
  1,793
  1,854
  1,710
  1,779
  1,853
  1,932
  2,015
  2,104
  2,197
  2,296
  2,400
  2,511
  2,627
  2,750
  2,879
  3,015
  3,159
  3,310
  3,469
  3,637
  3,813
  3,998
Operating income, $m
  205
  92
  99
  107
  116
  126
  137
  148
  161
  175
  190
  414
  431
  449
  468
  488
  509
  532
  556
  581
  608
  636
  666
  697
  730
  765
  802
  840
  881
  923
  968
EBITDA, $m
  429
  387
  396
  406
  417
  430
  444
  459
  475
  493
  512
  532
  553
  576
  601
  627
  654
  683
  714
  747
  781
  817
  855
  895
  938
  983
  1,030
  1,079
  1,131
  1,186
  1,243
Interest expense (income), $m
  111
  109
  112
  115
  118
  122
  126
  131
  136
  141
  147
  154
  161
  168
  176
  184
  193
  202
  212
  222
  233
  244
  257
  270
  283
  297
  312
  328
  345
  363
  381
Earnings before tax, $m
  91
  -17
  -12
  -8
  -2
  4
  10
  18
  25
  33
  42
  260
  270
  281
  292
  304
  317
  330
  344
  359
  375
  392
  409
  428
  447
  468
  489
  512
  536
  561
  587
Tax expense, $m
  5
  0
  0
  0
  0
  1
  3
  5
  7
  9
  11
  70
  73
  76
  79
  82
  86
  89
  93
  97
  101
  106
  111
  116
  121
  126
  132
  138
  145
  151
  159
Net income, $m
  91
  -17
  -12
  -8
  -2
  3
  8
  13
  18
  24
  31
  190
  197
  205
  213
  222
  231
  241
  251
  262
  274
  286
  299
  312
  326
  341
  357
  374
  391
  409
  429

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  65
  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
  3,739
  3,748
  3,834
  3,933
  4,044
  4,166
  4,301
  4,447
  4,606
  4,777
  4,960
  5,156
  5,365
  5,588
  5,825
  6,076
  6,342
  6,624
  6,922
  7,237
  7,570
  7,921
  8,291
  8,681
  9,092
  9,525
  9,980
  10,460
  10,965
  11,496
  12,054
Adjusted assets (=assets-cash), $m
  3,674
  3,748
  3,834
  3,933
  4,044
  4,166
  4,301
  4,447
  4,606
  4,777
  4,960
  5,156
  5,365
  5,588
  5,825
  6,076
  6,342
  6,624
  6,922
  7,237
  7,570
  7,921
  8,291
  8,681
  9,092
  9,525
  9,980
  10,460
  10,965
  11,496
  12,054
Revenue / Adjusted assets
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
  0.412
Average production assets, $m
  1,242
  1,266
  1,295
  1,329
  1,366
  1,408
  1,453
  1,502
  1,556
  1,614
  1,676
  1,742
  1,813
  1,888
  1,968
  2,053
  2,143
  2,238
  2,339
  2,445
  2,557
  2,676
  2,801
  2,933
  3,072
  3,218
  3,372
  3,534
  3,704
  3,884
  4,072
Working capital, $m
  126
  62
  63
  65
  67
  69
  71
  73
  76
  79
  82
  85
  88
  92
  96
  100
  105
  109
  114
  119
  125
  131
  137
  143
  150
  157
  164
  172
  181
  189
  199
Total debt, $m
  2,137
  2,187
  2,246
  2,313
  2,389
  2,472
  2,564
  2,664
  2,772
  2,889
  3,014
  3,147
  3,290
  3,442
  3,604
  3,775
  3,957
  4,149
  4,352
  4,567
  4,794
  5,033
  5,285
  5,551
  5,832
  6,127
  6,438
  6,765
  7,109
  7,471
  7,852
Total liabilities, $m
  2,506
  2,556
  2,615
  2,682
  2,758
  2,841
  2,933
  3,033
  3,141
  3,258
  3,383
  3,516
  3,659
  3,811
  3,973
  4,144
  4,326
  4,518
  4,721
  4,936
  5,163
  5,402
  5,654
  5,920
  6,201
  6,496
  6,807
  7,134
  7,478
  7,840
  8,221
Total equity, $m
  1,233
  1,192
  1,219
  1,251
  1,286
  1,325
  1,368
  1,414
  1,465
  1,519
  1,577
  1,640
  1,706
  1,777
  1,852
  1,932
  2,017
  2,107
  2,201
  2,301
  2,407
  2,519
  2,636
  2,760
  2,891
  3,029
  3,174
  3,326
  3,487
  3,656
  3,833
Total liabilities and equity, $m
  3,739
  3,748
  3,834
  3,933
  4,044
  4,166
  4,301
  4,447
  4,606
  4,777
  4,960
  5,156
  5,365
  5,588
  5,825
  6,076
  6,343
  6,625
  6,922
  7,237
  7,570
  7,921
  8,290
  8,680
  9,092
  9,525
  9,981
  10,460
  10,965
  11,496
  12,054
Debt-to-equity ratio
  1.733
  1.840
  1.840
  1.850
  1.860
  1.870
  1.870
  1.880
  1.890
  1.900
  1.910
  1.920
  1.930
  1.940
  1.950
  1.950
  1.960
  1.970
  1.980
  1.980
  1.990
  2.000
  2.000
  2.010
  2.020
  2.020
  2.030
  2.030
  2.040
  2.040
  2.050
Adjusted equity ratio
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  91
  -17
  -12
  -8
  -2
  3
  8
  13
  18
  24
  31
  190
  197
  205
  213
  222
  231
  241
  251
  262
  274
  286
  299
  312
  326
  341
  357
  374
  391
  409
  429
Depreciation, amort., depletion, $m
  224
  294
  296
  299
  301
  304
  307
  310
  314
  318
  322
  118
  122
  128
  133
  139
  145
  151
  158
  165
  173
  181
  189
  198
  208
  217
  228
  239
  250
  262
  275
Funds from operations, $m
  228
  278
  284
  291
  299
  307
  315
  323
  332
  342
  353
  308
  320
  333
  346
  361
  376
  392
  409
  428
  447
  467
  488
  510
  534
  559
  585
  612
  641
  672
  704
Change in working capital, $m
  -59
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
Cash from operations, $m
  287
  276
  283
  290
  297
  305
  313
  321
  330
  340
  350
  305
  316
  329
  342
  357
  372
  388
  405
  422
  441
  461
  482
  504
  527
  552
  577
  605
  633
  663
  695
Maintenance CAPEX, $m
  0
  -84
  -86
  -88
  -90
  -92
  -95
  -98
  -102
  -105
  -109
  -113
  -118
  -122
  -128
  -133
  -139
  -145
  -151
  -158
  -165
  -173
  -181
  -189
  -198
  -208
  -217
  -228
  -239
  -250
  -262
New CAPEX, $m
  -59
  -25
  -29
  -33
  -37
  -41
  -45
  -49
  -54
  -58
  -62
  -66
  -71
  -75
  -80
  -85
  -90
  -95
  -101
  -106
  -112
  -119
  -125
  -132
  -139
  -146
  -154
  -162
  -171
  -179
  -189
Cash from investing activities, $m
  -37
  -109
  -115
  -121
  -127
  -133
  -140
  -147
  -156
  -163
  -171
  -179
  -189
  -197
  -208
  -218
  -229
  -240
  -252
  -264
  -277
  -292
  -306
  -321
  -337
  -354
  -371
  -390
  -410
  -429
  -451
Free cash flow, $m
  250
  168
  168
  169
  170
  171
  172
  173
  175
  177
  179
  125
  128
  131
  135
  139
  143
  148
  153
  158
  164
  170
  176
  183
  190
  198
  206
  215
  224
  233
  244
Issuance/(repayment) of debt, $m
  -90
  50
  59
  67
  75
  84
  92
  100
  108
  116
  125
  134
  143
  152
  161
  171
  182
  192
  203
  215
  227
  239
  252
  266
  280
  295
  311
  327
  344
  362
  381
Issuance/(repurchase) of shares, $m
  0
  41
  40
  39
  37
  36
  35
  34
  32
  30
  27
  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  
  -98
  91
  99
  106
  112
  120
  127
  134
  140
  146
  152
  134
  143
  152
  161
  171
  182
  192
  203
  215
  227
  239
  252
  266
  280
  295
  311
  327
  344
  362
  381
Total cash flow (excl. dividends), $m
  153
  259
  267
  275
  283
  291
  299
  307
  315
  323
  331
  259
  271
  283
  296
  310
  325
  340
  356
  373
  390
  409
  429
  449
  471
  493
  517
  542
  568
  596
  625
Retained Cash Flow (-), $m
  -20
  -41
  -40
  -39
  -37
  -39
  -43
  -47
  -50
  -54
  -58
  -62
  -67
  -71
  -75
  -80
  -85
  -90
  -95
  -100
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -153
  -161
  -169
  -178
Prev. year cash balance distribution, $m
 
  65
  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
 
  283
  227
  236
  246
  252
  256
  260
  264
  269
  273
  197
  204
  212
  221
  230
  240
  250
  261
  273
  285
  297
  311
  325
  340
  355
  372
  389
  408
  427
  447
Discount rate, %
 
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
 
  259
  188
  176
  163
  147
  131
  114
  99
  84
  71
  42
  35
  29
  23
  18
  14
  11
  8
  6
  4
  3
  2
  1
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  98.6
  97.3
  96.0
  94.9
  93.8
  92.8
  91.9
  91.1
  90.3
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7

OUTFRONT Media Inc. operates as a real estate investment trust in the United States and Canada. The company provides advertising space on out-of-home advertising structures and sites. Its portfolio primarily consists of billboard displays, which are principally located on the heavily traveled highways and roadways; and transit advertising displays operated under multi-year contracts with municipalities in various cities across the United States and Canada. The company also offers value-added services, such as pre-campaign category research, consumer insights, creative design support, print production, and post-campaign tracking and analytics. It primarily serves the retail, television, and healthcare/pharmaceutical industries. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as CBS Outdoor Americas Inc. and changed its name to OUTFRONT Media Inc. in November 2014. OUTFRONT Media Inc. is based in New York, New York.

FINANCIAL RATIOS  of  Outfront Media (OUT)

Valuation Ratios
P/E Ratio 33.4
Price to Sales 2
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 10.6
Price to Free Cash Flow 13.3
Growth Rates
Sales Growth Rate 0%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -0.7%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 173.3%
Total Debt to Equity 173.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 5.2%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 2.7%
Ret/ On T. Cap. - 3 Yr. Avg. 3.8%
Return On Equity 7.4%
Return On Equity - 3 Yr. Avg. 6.6%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 46%
Gross Margin - 3 Yr. Avg. 45.8%
EBITDA Margin 28.1%
EBITDA Margin - 3 Yr. Avg. 24.9%
Operating Margin 13.5%
Oper. Margin - 3 Yr. Avg. 10.9%
Pre-Tax Margin 6%
Pre-Tax Margin - 3 Yr. Avg. 3.8%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 8.9%
Effective Tax Rate 5.5%
Eff/ Tax Rate - 3 Yr. Avg. -74%
Payout Ratio 207.7%

OUT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OUT stock intrinsic value calculation we used $1514 million for the last fiscal year's total revenue generated by Outfront Media. The default revenue input number comes from 2016 income statement of Outfront Media. 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 OUT stock valuation model: a) initial revenue growth rate of 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 9.3%, whose default value for OUT is calculated based on our internal credit rating of Outfront Media, 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 Outfront Media.
    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 OUT stock the variable cost ratio is equal to 94.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for OUT 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 5.1% for Outfront Media.

Corporate tax rate of 27% is the nominal tax rate for Outfront Media. 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 OUT 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 OUT are equal to 82%.

Life of production assets of 14.8 years is the average useful life of capital assets used in Outfront Media 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 OUT is equal to 4%. 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 - $1233 million for Outfront Media - 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 138.285 million for Outfront Media 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 Outfront Media at the current share price and the inputted number of shares is $3.0 billion.

RELATED COMPANIES Price Int.Val. Rating
BCE BCE 46.77 26.60  sell

COMPANY NEWS

▶ Outfront Media reports 2Q results   [Aug-03-17 07:49PM  Associated Press]
▶ OUTFRONT Media Announces Quarterly Dividend   [Jul-25-17 01:59PM  PR Newswire]
▶ OUTFRONT Media Completes Billboard Asset Swap   [Jul-05-17 06:00AM  PR Newswire]
▶ New Strong Sell Stocks for May 18th   [May-18-17 08:06AM  Zacks]
▶ Outfront Media reports 1Q results   [May-03-17 05:34PM  Associated Press]
▶ 3 Stocks to Buy With Dividends Yielding More Than 4%   [May-01-17 10:09AM  Motley Fool]
▶ Top Ranked Income Stocks to Buy for April 26th   [Apr-26-17 10:28AM  Zacks]
▶ OUTFRONT Media Announces Quarterly Dividend   [Apr-25-17 01:33PM  PR Newswire]
▶ Top Ranked Income Stocks to Buy for April 18th   [Apr-18-17 10:39AM  Zacks]
▶ [$$] Two Billboard REITs With Generous Payouts   [Apr-15-17 01:13AM  Barrons.com]
▶ Top Ranked Income Stocks to Buy for March 30th   [Mar-30-17 11:03AM  Zacks]
▶ Stocks Near Long and Short-term Breakout Levels   [Dec-21-16 01:28PM  at Investopedia]
▶ Hedge Funds Are Selling Outfront Media Inc (OUT)   [Dec-08-16 08:32AM  at Insider Monkey]
Stock chart of OUT Financial statements of OUT
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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