Intrinsic value of Prestige Brands Holdings - PBH

Previous Close

$47.68

  Intrinsic Value

$34.54

stock screener

  Rating & Target

sell

-28%

  Value-price divergence*

+67%

Previous close

$47.68

 
Intrinsic value

$34.54

 
Up/down potential

-28%

 
Rating

sell

 
Value-price divergence*

+67%

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

We calculate the intrinsic value of PBH 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 2017), $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 2.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.43
  22.40
  20.66
  19.09
  17.68
  16.42
  15.27
  14.25
  13.32
  12.49
  11.74
  11.07
  10.46
  9.91
  9.42
  8.98
  8.58
  8.22
  7.90
  7.61
  7.35
  7.12
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
Revenue, $m
  882
  1,080
  1,303
  1,551
  1,826
  2,125
  2,450
  2,799
  3,172
  3,568
  3,987
  4,428
  4,892
  5,377
  5,883
  6,412
  6,962
  7,534
  8,130
  8,748
  9,392
  10,060
  10,754
  11,476
  12,227
  13,008
  13,821
  14,667
  15,549
  16,468
  17,427
Variable operating expenses, $m
 
  742
  882
  1,039
  1,212
  1,401
  1,606
  1,826
  2,061
  2,310
  2,574
  2,791
  3,083
  3,389
  3,708
  4,041
  4,388
  4,749
  5,124
  5,514
  5,919
  6,340
  6,778
  7,233
  7,706
  8,199
  8,711
  9,244
  9,800
  10,380
  10,984
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
  678
  742
  882
  1,039
  1,212
  1,401
  1,606
  1,826
  2,061
  2,310
  2,574
  2,791
  3,083
  3,389
  3,708
  4,041
  4,388
  4,749
  5,124
  5,514
  5,919
  6,340
  6,778
  7,233
  7,706
  8,199
  8,711
  9,244
  9,800
  10,380
  10,984
Operating income, $m
  204
  338
  420
  512
  614
  724
  844
  973
  1,111
  1,258
  1,413
  1,637
  1,809
  1,988
  2,175
  2,371
  2,574
  2,786
  3,006
  3,235
  3,472
  3,719
  3,976
  4,243
  4,521
  4,809
  5,110
  5,423
  5,749
  6,089
  6,443
EBITDA, $m
  230
  507
  612
  729
  858
  998
  1,151
  1,315
  1,490
  1,676
  1,873
  2,080
  2,298
  2,526
  2,764
  3,012
  3,270
  3,539
  3,819
  4,110
  4,412
  4,726
  5,052
  5,391
  5,744
  6,111
  6,493
  6,890
  7,304
  7,736
  8,186
Interest expense (income), $m
  85
  98
  128
  162
  201
  243
  289
  339
  393
  450
  511
  576
  644
  715
  790
  868
  949
  1,034
  1,122
  1,214
  1,309
  1,408
  1,511
  1,618
  1,729
  1,845
  1,965
  2,090
  2,221
  2,356
  2,498
Earnings before tax, $m
  111
  240
  292
  350
  413
  481
  555
  634
  718
  807
  901
  1,061
  1,165
  1,273
  1,385
  1,503
  1,625
  1,752
  1,884
  2,021
  2,163
  2,311
  2,465
  2,625
  2,791
  2,965
  3,145
  3,333
  3,528
  3,732
  3,945
Tax expense, $m
  42
  65
  79
  94
  111
  130
  150
  171
  194
  218
  243
  287
  314
  344
  374
  406
  439
  473
  509
  546
  584
  624
  666
  709
  754
  800
  849
  900
  953
  1,008
  1,065
Net income, $m
  69
  175
  213
  255
  301
  351
  405
  463
  524
  589
  658
  775
  850
  929
  1,011
  1,097
  1,186
  1,279
  1,375
  1,475
  1,579
  1,687
  1,799
  1,916
  2,038
  2,164
  2,296
  2,433
  2,576
  2,725
  2,880

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  42
  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
  3,911
  4,735
  5,713
  6,804
  8,007
  9,322
  10,746
  12,277
  13,912
  15,650
  17,487
  19,423
  21,454
  23,581
  25,803
  28,121
  30,534
  33,045
  35,656
  38,371
  41,191
  44,122
  47,168
  50,335
  53,628
  57,053
  60,619
  64,331
  68,198
  72,229
  76,433
Adjusted assets (=assets-cash), $m
  3,869
  4,735
  5,713
  6,804
  8,007
  9,322
  10,746
  12,277
  13,912
  15,650
  17,487
  19,423
  21,454
  23,581
  25,803
  28,121
  30,534
  33,045
  35,656
  38,371
  41,191
  44,122
  47,168
  50,335
  53,628
  57,053
  60,619
  64,331
  68,198
  72,229
  76,433
Revenue / Adjusted assets
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
  0.228
Average production assets, $m
  2,647
  3,240
  3,909
  4,656
  5,479
  6,378
  7,353
  8,400
  9,519
  10,708
  11,965
  13,289
  14,680
  16,135
  17,655
  19,241
  20,892
  22,611
  24,397
  26,254
  28,184
  30,189
  32,274
  34,440
  36,693
  39,037
  41,477
  44,017
  46,663
  49,421
  52,298
Working capital, $m
  172
  159
  191
  228
  268
  312
  360
  411
  466
  525
  586
  651
  719
  790
  865
  942
  1,023
  1,108
  1,195
  1,286
  1,381
  1,479
  1,581
  1,687
  1,797
  1,912
  2,032
  2,156
  2,286
  2,421
  2,562
Total debt, $m
  2,222
  2,912
  3,693
  4,564
  5,524
  6,573
  7,709
  8,931
  10,236
  11,623
  13,089
  14,633
  16,255
  17,952
  19,725
  21,574
  23,500
  25,504
  27,588
  29,754
  32,004
  34,343
  36,774
  39,301
  41,929
  44,662
  47,508
  50,470
  53,556
  56,773
  60,127
Total liabilities, $m
  3,089
  3,778
  4,559
  5,430
  6,390
  7,439
  8,575
  9,797
  11,102
  12,489
  13,955
  15,499
  17,121
  18,818
  20,591
  22,440
  24,366
  26,370
  28,454
  30,620
  32,870
  35,209
  37,640
  40,167
  42,795
  45,528
  48,374
  51,336
  54,422
  57,639
  60,993
Total equity, $m
  823
  956
  1,154
  1,374
  1,617
  1,883
  2,171
  2,480
  2,810
  3,161
  3,532
  3,923
  4,334
  4,763
  5,212
  5,680
  6,168
  6,675
  7,203
  7,751
  8,321
  8,913
  9,528
  10,168
  10,833
  11,525
  12,245
  12,995
  13,776
  14,590
  15,439
Total liabilities and equity, $m
  3,912
  4,734
  5,713
  6,804
  8,007
  9,322
  10,746
  12,277
  13,912
  15,650
  17,487
  19,422
  21,455
  23,581
  25,803
  28,120
  30,534
  33,045
  35,657
  38,371
  41,191
  44,122
  47,168
  50,335
  53,628
  57,053
  60,619
  64,331
  68,198
  72,229
  76,432
Debt-to-equity ratio
  2.700
  3.050
  3.200
  3.320
  3.420
  3.490
  3.550
  3.600
  3.640
  3.680
  3.710
  3.730
  3.750
  3.770
  3.780
  3.800
  3.810
  3.820
  3.830
  3.840
  3.850
  3.850
  3.860
  3.870
  3.870
  3.880
  3.880
  3.880
  3.890
  3.890
  3.890
Adjusted equity ratio
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  69
  175
  213
  255
  301
  351
  405
  463
  524
  589
  658
  775
  850
  929
  1,011
  1,097
  1,186
  1,279
  1,375
  1,475
  1,579
  1,687
  1,799
  1,916
  2,038
  2,164
  2,296
  2,433
  2,576
  2,725
  2,880
Depreciation, amort., depletion, $m
  26
  169
  192
  217
  244
  274
  307
  342
  379
  418
  460
  443
  489
  538
  589
  641
  696
  754
  813
  875
  939
  1,006
  1,076
  1,148
  1,223
  1,301
  1,383
  1,467
  1,555
  1,647
  1,743
Funds from operations, $m
  135
  345
  405
  472
  545
  625
  712
  804
  903
  1,008
  1,118
  1,218
  1,340
  1,467
  1,600
  1,738
  1,882
  2,032
  2,188
  2,350
  2,519
  2,693
  2,875
  3,064
  3,261
  3,465
  3,678
  3,900
  4,131
  4,372
  4,623
Change in working capital, $m
  -13
  29
  33
  37
  40
  44
  48
  51
  55
  58
  62
  65
  68
  71
  74
  78
  81
  84
  88
  91
  95
  98
  102
  106
  110
  115
  119
  124
  130
  135
  141
Cash from operations, $m
  148
  316
  372
  435
  505
  581
  664
  753
  848
  950
  1,057
  1,153
  1,271
  1,396
  1,525
  1,661
  1,802
  1,948
  2,101
  2,259
  2,424
  2,595
  2,773
  2,958
  3,151
  3,351
  3,559
  3,776
  4,001
  4,237
  4,482
Maintenance CAPEX, $m
  0
  -88
  -108
  -130
  -155
  -183
  -213
  -245
  -280
  -317
  -357
  -399
  -443
  -489
  -538
  -589
  -641
  -696
  -754
  -813
  -875
  -939
  -1,006
  -1,076
  -1,148
  -1,223
  -1,301
  -1,383
  -1,467
  -1,555
  -1,647
New CAPEX, $m
  -3
  -593
  -669
  -746
  -823
  -899
  -974
  -1,048
  -1,119
  -1,189
  -1,257
  -1,324
  -1,390
  -1,455
  -1,520
  -1,586
  -1,651
  -1,718
  -1,787
  -1,857
  -1,930
  -2,005
  -2,084
  -2,167
  -2,253
  -2,344
  -2,440
  -2,540
  -2,646
  -2,758
  -2,876
Cash from investing activities, $m
  -695
  -681
  -777
  -876
  -978
  -1,082
  -1,187
  -1,293
  -1,399
  -1,506
  -1,614
  -1,723
  -1,833
  -1,944
  -2,058
  -2,175
  -2,292
  -2,414
  -2,541
  -2,670
  -2,805
  -2,944
  -3,090
  -3,243
  -3,401
  -3,567
  -3,741
  -3,923
  -4,113
  -4,313
  -4,523
Free cash flow, $m
  -547
  -366
  -405
  -441
  -473
  -501
  -523
  -539
  -551
  -557
  -558
  -570
  -562
  -549
  -533
  -513
  -491
  -466
  -440
  -411
  -381
  -350
  -317
  -284
  -251
  -216
  -182
  -147
  -112
  -77
  -41
Issuance/(repayment) of debt, $m
  570
  690
  781
  871
  960
  1,049
  1,136
  1,222
  1,305
  1,387
  1,466
  1,544
  1,621
  1,697
  1,773
  1,849
  1,926
  2,004
  2,084
  2,166
  2,251
  2,339
  2,431
  2,527
  2,628
  2,734
  2,845
  2,963
  3,086
  3,217
  3,354
Issuance/(repurchase) of shares, $m
  4
  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  
  562
  690
  781
  871
  960
  1,049
  1,136
  1,222
  1,305
  1,387
  1,466
  1,544
  1,621
  1,697
  1,773
  1,849
  1,926
  2,004
  2,084
  2,166
  2,251
  2,339
  2,431
  2,527
  2,628
  2,734
  2,845
  2,963
  3,086
  3,217
  3,354
Total cash flow (excl. dividends), $m
  15
  325
  375
  429
  487
  548
  613
  682
  754
  830
  909
  974
  1,060
  1,148
  1,240
  1,336
  1,435
  1,538
  1,644
  1,755
  1,870
  1,989
  2,113
  2,243
  2,377
  2,517
  2,663
  2,815
  2,974
  3,140
  3,313
Retained Cash Flow (-), $m
  -79
  -175
  -198
  -220
  -243
  -266
  -288
  -309
  -330
  -351
  -371
  -391
  -410
  -430
  -449
  -468
  -488
  -507
  -527
  -548
  -570
  -592
  -615
  -640
  -665
  -692
  -720
  -750
  -781
  -814
  -849
Prev. year cash balance distribution, $m
 
  42
  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
 
  191
  178
  209
  244
  283
  326
  373
  424
  479
  538
  583
  649
  719
  791
  868
  947
  1,030
  1,117
  1,207
  1,300
  1,397
  1,498
  1,603
  1,712
  1,825
  1,943
  2,066
  2,193
  2,326
  2,464
Discount rate, %
 
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.84
  17.69
  18.57
  19.50
  20.47
  21.50
  22.57
  23.70
  24.88
  26.13
  27.44
  28.81
  30.25
  31.76
  33.35
  35.02
  36.77
  38.60
  40.53
  42.56
  44.69
  46.92
PV of cash for distribution, $m
 
  172
  142
  146
  148
  148
  144
  138
  129
  118
  106
  90
  77
  64
  52
  41
  32
  24
  17
  12
  8
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
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

Prestige Brands Holdings, Inc. is engaged in the marketing, sales and distribution of over-the-counter healthcare and household cleaning products. The Company operates through three segments: North American Over-the-Counter (OTC) Healthcare; International Over-the-Counter Healthcare, and Household Cleaning. Its portfolio of OTC healthcare products includes core brands, such as DenTek specialty oral care products, Monistat women's health products, Nix lice treatment, Chloraseptic sore throat treatments, Clear Eyes eye care products, Compound W wart treatments, The Doctor's NightGuard dental protector, Little Remedies pediatric over-the-counter products, Efferdent denture care products, Luden's throat drops, Dramamine motion sickness treatment, BC and Goody's pain relievers, Beano gas prevention, Debrox earwax remover, and Gaviscon antacid. The Company's portfolio of Household Cleaning brands includes the Chore Boy, Comet and Spic and Span brands.

FINANCIAL RATIOS  of  Prestige Brands Holdings (PBH)

Valuation Ratios
P/E Ratio 36.6
Price to Sales 2.9
Price to Book 3.1
Price to Tangible Book
Price to Cash Flow 17.1
Price to Free Cash Flow 17.4
Growth Rates
Sales Growth Rate 9.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 270%
Total Debt to Equity 270%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.6%
Ret/ On Assets - 3 Yr. Avg. 4.8%
Return On Total Capital 2.5%
Ret/ On T. Cap. - 3 Yr. Avg. 3.7%
Return On Equity 8.8%
Return On Equity - 3 Yr. Avg. 12.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 56.7%
Gross Margin - 3 Yr. Avg. 57.1%
EBITDA Margin 25.2%
EBITDA Margin - 3 Yr. Avg. 29.2%
Operating Margin 23.1%
Oper. Margin - 3 Yr. Avg. 27.4%
Pre-Tax Margin 12.6%
Pre-Tax Margin - 3 Yr. Avg. 16.6%
Net Profit Margin 7.8%
Net Profit Margin - 3 Yr. Avg. 10.4%
Effective Tax Rate 37.8%
Eff/ Tax Rate - 3 Yr. Avg. 37.6%
Payout Ratio 0%

PBH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PBH stock intrinsic value calculation we used $882 million for the last fiscal year's total revenue generated by Prestige Brands Holdings. The default revenue input number comes from 2017 income statement of Prestige Brands Holdings. 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 PBH stock valuation model: a) initial revenue growth rate of 22.4% 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 11.4%, whose default value for PBH is calculated based on our internal credit rating of Prestige Brands Holdings, 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 Prestige Brands Holdings.
    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 PBH stock the variable cost ratio is equal to 70%.

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 PBH 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 4.4% for Prestige Brands Holdings.

Corporate tax rate of 27% is the nominal tax rate for Prestige Brands Holdings. 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 PBH 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 PBH are equal to 300.1%.

Life of production assets of 120.5 years is the average useful life of capital assets used in Prestige Brands Holdings 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 PBH is equal to 14.7%. 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 - $823 million for Prestige Brands Holdings - 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 52.684 million for Prestige Brands Holdings 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 Prestige Brands Holdings at the current share price and the inputted number of shares is $2.5 billion.

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COMPANY NEWS

▶ As Lice Head Back To School, Nix® Helps Parents Prepare   [Aug-10-17 09:00AM  PR Newswire]
▶ Prestige Brands tops Street 1Q forecasts   [Aug-03-17 05:32PM  Associated Press]
▶ Prestige Brands misses 4Q profit forecasts   [06:24AM  Associated Press]
▶ [$$] Prestige Brands Earnings, Sales Rise   [11:56AM  The Wall Street Journal]
▶ [$$] Prestige Brands Earnings, Sales Rise   [11:56AM  at The Wall Street Journal]
▶ Prestige Brands tops Street 3Q forecasts   [06:24AM  Associated Press]
▶ Why DryShips Stock Dropped Another 18% Today   [Jan-24-17 03:58PM  Motley Fool]
▶ Why DryShips Stock Dropped Another 18% Today   [03:58PM  at Motley Fool]
▶ [$$] Prestige Brands to Buy C.B. Fleet for About $825 Million   [07:02PM  at The Wall Street Journal]
Financial statements of PBH
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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