Intrinsic value of Prestige Brands Holdings - PBH

Previous Close

$50.57

  Intrinsic Value

$29.64

stock screener

  Rating & Target

sell

-41%

  Value-price divergence*

-3%

Previous close

$50.57

 
Intrinsic value

$29.64

 
Up/down potential

-41%

 
Rating

sell

 
Value-price divergence*

-3%

*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 2.6

 

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
  15.90
  14.81
  13.83
  12.95
  12.15
  11.44
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.07
  5.97
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
Revenue, $m
  882
  1,022
  1,174
  1,336
  1,509
  1,692
  1,886
  2,089
  2,303
  2,526
  2,759
  3,002
  3,254
  3,517
  3,791
  4,075
  4,370
  4,677
  4,995
  5,327
  5,672
  6,030
  6,404
  6,793
  7,198
  7,621
  8,061
  8,521
  9,001
  9,502
  10,026
Variable operating expenses, $m
 
  706
  801
  904
  1,013
  1,128
  1,250
  1,378
  1,513
  1,653
  1,800
  1,892
  2,051
  2,217
  2,389
  2,568
  2,754
  2,947
  3,148
  3,357
  3,575
  3,801
  4,036
  4,281
  4,537
  4,803
  5,081
  5,371
  5,673
  5,989
  6,319
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
  706
  801
  904
  1,013
  1,128
  1,250
  1,378
  1,513
  1,653
  1,800
  1,892
  2,051
  2,217
  2,389
  2,568
  2,754
  2,947
  3,148
  3,357
  3,575
  3,801
  4,036
  4,281
  4,537
  4,803
  5,081
  5,371
  5,673
  5,989
  6,319
Operating income, $m
  204
  316
  372
  432
  496
  564
  636
  711
  790
  872
  959
  1,110
  1,203
  1,300
  1,401
  1,507
  1,616
  1,729
  1,847
  1,969
  2,097
  2,230
  2,368
  2,511
  2,661
  2,818
  2,980
  3,150
  3,328
  3,513
  3,707
EBITDA, $m
  230
  480
  551
  628
  709
  795
  886
  981
  1,082
  1,187
  1,296
  1,410
  1,529
  1,652
  1,781
  1,914
  2,053
  2,197
  2,347
  2,502
  2,664
  2,833
  3,008
  3,191
  3,381
  3,580
  3,787
  4,003
  4,228
  4,464
  4,710
Interest expense (income), $m
  85
  98
  119
  143
  168
  194
  223
  252
  284
  317
  351
  387
  424
  463
  504
  546
  589
  635
  682
  731
  782
  835
  891
  948
  1,008
  1,070
  1,135
  1,203
  1,274
  1,348
  1,425
Earnings before tax, $m
  111
  219
  253
  290
  329
  370
  413
  459
  506
  556
  608
  723
  779
  837
  898
  961
  1,026
  1,094
  1,165
  1,238
  1,315
  1,394
  1,477
  1,563
  1,653
  1,747
  1,845
  1,947
  2,054
  2,165
  2,282
Tax expense, $m
  42
  59
  68
  78
  89
  100
  112
  124
  137
  150
  164
  195
  210
  226
  242
  259
  277
  295
  315
  334
  355
  376
  399
  422
  446
  472
  498
  526
  555
  585
  616
Net income, $m
  69
  160
  185
  212
  240
  270
  302
  335
  370
  406
  444
  528
  569
  611
  655
  701
  749
  799
  850
  904
  960
  1,018
  1,078
  1,141
  1,207
  1,275
  1,347
  1,421
  1,499
  1,581
  1,666

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
  4,484
  5,148
  5,859
  6,618
  7,422
  8,271
  9,164
  10,099
  11,078
  12,100
  13,165
  14,273
  15,427
  16,625
  17,871
  19,166
  20,511
  21,910
  23,364
  24,876
  26,449
  28,087
  29,793
  31,570
  33,423
  35,356
  37,373
  39,478
  41,678
  43,975
Adjusted assets (=assets-cash), $m
  3,869
  4,484
  5,148
  5,859
  6,618
  7,422
  8,271
  9,164
  10,099
  11,078
  12,100
  13,165
  14,273
  15,427
  16,625
  17,871
  19,166
  20,511
  21,910
  23,364
  24,876
  26,449
  28,087
  29,793
  31,570
  33,423
  35,356
  37,373
  39,478
  41,678
  43,975
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
  3,068
  3,522
  4,009
  4,528
  5,078
  5,659
  6,270
  6,910
  7,580
  8,279
  9,008
  9,766
  10,555
  11,376
  12,228
  13,114
  14,034
  14,991
  15,986
  17,021
  18,097
  19,218
  20,385
  21,601
  22,869
  24,192
  25,572
  27,012
  28,517
  30,089
Working capital, $m
  172
  150
  173
  196
  222
  249
  277
  307
  338
  371
  406
  441
  478
  517
  557
  599
  642
  687
  734
  783
  834
  886
  941
  999
  1,058
  1,120
  1,185
  1,253
  1,323
  1,397
  1,474
Total debt, $m
  2,222
  2,712
  3,242
  3,810
  4,415
  5,057
  5,734
  6,447
  7,193
  7,975
  8,790
  9,640
  10,524
  11,444
  12,401
  13,395
  14,428
  15,502
  16,618
  17,778
  18,985
  20,240
  21,547
  22,909
  24,327
  25,806
  27,348
  28,958
  30,638
  32,393
  34,226
Total liabilities, $m
  3,089
  3,578
  4,108
  4,676
  5,281
  5,923
  6,600
  7,313
  8,059
  8,841
  9,656
  10,506
  11,390
  12,310
  13,267
  14,261
  15,294
  16,368
  17,484
  18,644
  19,851
  21,106
  22,413
  23,775
  25,193
  26,672
  28,214
  29,824
  31,504
  33,259
  35,092
Total equity, $m
  823
  906
  1,040
  1,184
  1,337
  1,499
  1,671
  1,851
  2,040
  2,238
  2,444
  2,659
  2,883
  3,116
  3,358
  3,610
  3,871
  4,143
  4,426
  4,719
  5,025
  5,343
  5,674
  6,018
  6,377
  6,752
  7,142
  7,549
  7,975
  8,419
  8,883
Total liabilities and equity, $m
  3,912
  4,484
  5,148
  5,860
  6,618
  7,422
  8,271
  9,164
  10,099
  11,079
  12,100
  13,165
  14,273
  15,426
  16,625
  17,871
  19,165
  20,511
  21,910
  23,363
  24,876
  26,449
  28,087
  29,793
  31,570
  33,424
  35,356
  37,373
  39,479
  41,678
  43,975
Debt-to-equity ratio
  2.700
  2.990
  3.120
  3.220
  3.300
  3.370
  3.430
  3.480
  3.530
  3.560
  3.600
  3.620
  3.650
  3.670
  3.690
  3.710
  3.730
  3.740
  3.750
  3.770
  3.780
  3.790
  3.800
  3.810
  3.810
  3.820
  3.830
  3.840
  3.840
  3.850
  3.850
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
  160
  185
  212
  240
  270
  302
  335
  370
  406
  444
  528
  569
  611
  655
  701
  749
  799
  850
  904
  960
  1,018
  1,078
  1,141
  1,207
  1,275
  1,347
  1,421
  1,499
  1,581
  1,666
Depreciation, amort., depletion, $m
  26
  164
  179
  195
  212
  231
  250
  270
  292
  314
  337
  300
  326
  352
  379
  408
  437
  468
  500
  533
  567
  603
  641
  680
  720
  762
  806
  852
  900
  951
  1,003
Funds from operations, $m
  135
  323
  364
  407
  452
  501
  552
  605
  661
  720
  781
  828
  894
  963
  1,035
  1,109
  1,186
  1,267
  1,350
  1,437
  1,527
  1,621
  1,719
  1,821
  1,927
  2,038
  2,153
  2,274
  2,400
  2,531
  2,669
Change in working capital, $m
  -13
  21
  22
  24
  25
  27
  28
  30
  31
  33
  34
  36
  37
  39
  40
  42
  43
  45
  47
  49
  51
  53
  55
  57
  60
  62
  65
  68
  71
  74
  77
Cash from operations, $m
  148
  303
  341
  383
  427
  474
  523
  575
  630
  687
  747
  792
  857
  924
  994
  1,067
  1,143
  1,221
  1,303
  1,388
  1,476
  1,568
  1,664
  1,764
  1,867
  1,976
  2,088
  2,206
  2,329
  2,458
  2,592
Maintenance CAPEX, $m
  0
  -88
  -102
  -117
  -134
  -151
  -169
  -189
  -209
  -230
  -253
  -276
  -300
  -326
  -352
  -379
  -408
  -437
  -468
  -500
  -533
  -567
  -603
  -641
  -680
  -720
  -762
  -806
  -852
  -900
  -951
New CAPEX, $m
  -3
  -421
  -454
  -487
  -519
  -550
  -581
  -611
  -640
  -670
  -699
  -729
  -759
  -789
  -820
  -852
  -886
  -921
  -957
  -995
  -1,035
  -1,077
  -1,121
  -1,167
  -1,216
  -1,268
  -1,322
  -1,380
  -1,441
  -1,505
  -1,572
Cash from investing activities, $m
  -695
  -509
  -556
  -604
  -653
  -701
  -750
  -800
  -849
  -900
  -952
  -1,005
  -1,059
  -1,115
  -1,172
  -1,231
  -1,294
  -1,358
  -1,425
  -1,495
  -1,568
  -1,644
  -1,724
  -1,808
  -1,896
  -1,988
  -2,084
  -2,186
  -2,293
  -2,405
  -2,523
Free cash flow, $m
  -547
  -207
  -215
  -222
  -226
  -227
  -227
  -224
  -219
  -213
  -205
  -212
  -202
  -190
  -178
  -164
  -151
  -136
  -121
  -106
  -91
  -76
  -60
  -44
  -28
  -12
  4
  20
  36
  52
  69
Issuance/(repayment) of debt, $m
  570
  490
  530
  568
  605
  642
  677
  712
  747
  781
  815
  850
  885
  920
  957
  994
  1,033
  1,074
  1,116
  1,160
  1,207
  1,256
  1,307
  1,361
  1,418
  1,479
  1,542
  1,609
  1,680
  1,755
  1,834
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
  490
  530
  568
  605
  642
  677
  712
  747
  781
  815
  850
  885
  920
  957
  994
  1,033
  1,074
  1,116
  1,160
  1,207
  1,256
  1,307
  1,361
  1,418
  1,479
  1,542
  1,609
  1,680
  1,755
  1,834
Total cash flow (excl. dividends), $m
  15
  283
  315
  346
  380
  414
  451
  488
  527
  568
  610
  638
  683
  730
  779
  830
  883
  937
  994
  1,054
  1,116
  1,180
  1,247
  1,317
  1,390
  1,466
  1,546
  1,629
  1,716
  1,807
  1,903
Retained Cash Flow (-), $m
  -79
  -125
  -134
  -144
  -153
  -162
  -171
  -180
  -189
  -198
  -206
  -215
  -224
  -233
  -242
  -252
  -262
  -272
  -282
  -294
  -305
  -318
  -331
  -345
  -359
  -374
  -390
  -407
  -425
  -444
  -464
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
 
  200
  181
  203
  226
  252
  279
  308
  338
  370
  404
  422
  459
  497
  537
  578
  621
  666
  712
  760
  810
  862
  916
  973
  1,031
  1,092
  1,156
  1,222
  1,291
  1,363
  1,438
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
 
  180
  144
  142
  138
  132
  124
  114
  103
  91
  79
  65
  54
  44
  35
  27
  21
  15
  11
  8
  5
  3
  2
  1
  1
  0
  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., through its subsidiaries, markets, sells, and distributes over-the-counter (OTC) healthcare and household cleaning products in North America, Australia, and internationally. It operates through North American OTC Healthcare, International OTC Healthcare, and Household Cleaning segments. The company’s OTC healthcare products portfolio include such as Chloraseptic sore throat treatments, Clear Eyes eye care products, Compound W wart removers, Dramamine Non-Drowsy naturals, Efferdent denture cleansers, Little Remedies pediatric products, Luden's throat drops, The Doctor’s brand of oral care products, BC and Goody's analgesic powders, Beano gas prevention, Debrox ear wax removals, and Gaviscon upset stomach remedies. Its OTC healthcare products portfolio also comprise Dermoplast first-aid products, New-Skin liquid bandages, Fess nasal saline spray, Hydralyte for dehydration and electrolyte replacement, Monistat for vaginal treatment-anti-fungal, e.p.t family planning products, Ecotrin aspirin, Nix lice/parasite treatments, DenTek for peg oral care, and Uristat urinary tract infection treatments. The company also offers household cleaning products consisting of Chore Boy metal cleaning pads, scrubbing sponges, and non-metal soap pads; Comet abrasive and non-abrasive powders, sprays, and creams; and Spic and Span brand products. It primarily offers its products to mass merchandisers, drug stores, and supermarkets, as well as club, convenience, and dollar stores. The company was founded in 1996 and is headquartered in Tarrytown, New York.

FINANCIAL RATIOS  of  Prestige Brands Holdings (PBH)

Valuation Ratios
P/E Ratio 38.8
Price to Sales 3
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 18.1
Price to Free Cash Flow 18.5
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 15.9% 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 51.968 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 $2.6 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]
▶ [$$] Prestige Brands to Buy C.B. Fleet for About $825 Million   [07:02PM  at The Wall Street Journal]
▶ [$$] Prestige Swings to Loss as It Sells Three Noncore Brands   [Aug-04-16 04:47PM  at The Wall Street Journal]
Stock chart of PBH 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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