Intrinsic value of Park-Ohio Holdings - PKOH

Previous Close

$40.55

  Intrinsic Value

$42.72

stock screener

  Rating & Target

hold

+5%

  Value-price divergence*

-34%

Previous close

$40.55

 
Intrinsic value

$42.72

 
Up/down potential

+5%

 
Rating

hold

 
Value-price divergence*

-34%

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

We calculate the intrinsic value of PKOH 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 0.5

 

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, %
  -12.77
  4.90
  4.91
  4.92
  4.93
  4.93
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  4.99
  5.00
Revenue, $m
  1,277
  1,340
  1,405
  1,474
  1,547
  1,623
  1,704
  1,788
  1,877
  1,970
  2,067
  2,170
  2,278
  2,391
  2,510
  2,635
  2,766
  2,904
  3,048
  3,200
  3,360
  3,528
  3,704
  3,888
  4,083
  4,286
  4,500
  4,725
  4,961
  5,209
  5,469
Variable operating expenses, $m
 
  1,132
  1,187
  1,245
  1,305
  1,369
  1,437
  1,507
  1,582
  1,660
  1,741
  1,819
  1,909
  2,004
  2,104
  2,208
  2,318
  2,434
  2,555
  2,683
  2,816
  2,957
  3,104
  3,259
  3,422
  3,593
  3,772
  3,960
  4,158
  4,366
  4,584
Fixed operating expenses, $m
 
  135
  139
  142
  146
  149
  153
  157
  161
  165
  169
  173
  178
  182
  187
  191
  196
  201
  206
  211
  216
  222
  227
  233
  239
  245
  251
  257
  264
  270
  277
Total operating expenses, $m
  1,208
  1,267
  1,326
  1,387
  1,451
  1,518
  1,590
  1,664
  1,743
  1,825
  1,910
  1,992
  2,087
  2,186
  2,291
  2,399
  2,514
  2,635
  2,761
  2,894
  3,032
  3,179
  3,331
  3,492
  3,661
  3,838
  4,023
  4,217
  4,422
  4,636
  4,861
Operating income, $m
  69
  73
  80
  88
  96
  105
  114
  124
  134
  145
  157
  178
  191
  205
  220
  235
  252
  269
  287
  307
  327
  349
  372
  396
  422
  449
  477
  507
  539
  573
  608
EBITDA, $m
  99
  100
  108
  117
  126
  136
  146
  157
  169
  181
  194
  208
  223
  238
  255
  272
  290
  310
  330
  352
  374
  398
  424
  451
  479
  509
  540
  574
  609
  646
  685
Interest expense (income), $m
  26
  25
  27
  29
  31
  34
  36
  39
  41
  44
  47
  50
  54
  57
  61
  65
  69
  73
  77
  82
  87
  92
  97
  103
  109
  115
  121
  128
  135
  143
  151
Earnings before tax, $m
  41
  48
  53
  59
  65
  71
  78
  85
  93
  101
  110
  128
  137
  148
  159
  171
  183
  196
  210
  225
  241
  257
  275
  294
  313
  334
  356
  379
  404
  430
  457
Tax expense, $m
  9
  13
  14
  16
  17
  19
  21
  23
  25
  27
  30
  34
  37
  40
  43
  46
  49
  53
  57
  61
  65
  69
  74
  79
  85
  90
  96
  102
  109
  116
  123
Net income, $m
  32
  35
  39
  43
  47
  52
  57
  62
  68
  74
  80
  93
  100
  108
  116
  125
  134
  143
  154
  164
  176
  188
  201
  214
  229
  244
  260
  277
  295
  314
  334

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  64
  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
  974
  955
  1,002
  1,051
  1,103
  1,157
  1,214
  1,274
  1,337
  1,404
  1,473
  1,547
  1,623
  1,704
  1,789
  1,878
  1,971
  2,070
  2,173
  2,281
  2,395
  2,514
  2,640
  2,772
  2,910
  3,055
  3,208
  3,368
  3,536
  3,713
  3,898
Adjusted assets (=assets-cash), $m
  910
  955
  1,002
  1,051
  1,103
  1,157
  1,214
  1,274
  1,337
  1,404
  1,473
  1,547
  1,623
  1,704
  1,789
  1,878
  1,971
  2,070
  2,173
  2,281
  2,395
  2,514
  2,640
  2,772
  2,910
  3,055
  3,208
  3,368
  3,536
  3,713
  3,898
Revenue / Adjusted assets
  1.403
  1.403
  1.402
  1.402
  1.403
  1.403
  1.404
  1.403
  1.404
  1.403
  1.403
  1.403
  1.404
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
  1.403
Average production assets, $m
  179
  188
  197
  206
  217
  227
  239
  250
  263
  276
  289
  304
  319
  335
  351
  369
  387
  407
  427
  448
  470
  494
  519
  544
  572
  600
  630
  662
  695
  729
  766
Working capital, $m
  311
  292
  306
  321
  337
  354
  371
  390
  409
  429
  451
  473
  497
  521
  547
  574
  603
  633
  665
  698
  732
  769
  807
  848
  890
  934
  981
  1,030
  1,082
  1,136
  1,192
Total debt, $m
  470
  474
  511
  550
  591
  634
  679
  726
  776
  828
  883
  941
  1,001
  1,065
  1,132
  1,202
  1,276
  1,353
  1,434
  1,520
  1,609
  1,703
  1,802
  1,906
  2,015
  2,129
  2,250
  2,376
  2,508
  2,648
  2,794
Total liabilities, $m
  748
  752
  789
  828
  869
  912
  957
  1,004
  1,054
  1,106
  1,161
  1,219
  1,279
  1,343
  1,410
  1,480
  1,554
  1,631
  1,712
  1,798
  1,887
  1,981
  2,080
  2,184
  2,293
  2,407
  2,528
  2,654
  2,786
  2,926
  3,072
Total equity, $m
  226
  202
  212
  223
  234
  245
  257
  270
  284
  298
  312
  328
  344
  361
  379
  398
  418
  439
  461
  484
  508
  533
  560
  588
  617
  648
  680
  714
  750
  787
  826
Total liabilities and equity, $m
  974
  954
  1,001
  1,051
  1,103
  1,157
  1,214
  1,274
  1,338
  1,404
  1,473
  1,547
  1,623
  1,704
  1,789
  1,878
  1,972
  2,070
  2,173
  2,282
  2,395
  2,514
  2,640
  2,772
  2,910
  3,055
  3,208
  3,368
  3,536
  3,713
  3,898
Debt-to-equity ratio
  2.080
  2.340
  2.410
  2.470
  2.530
  2.580
  2.640
  2.690
  2.740
  2.780
  2.830
  2.870
  2.910
  2.950
  2.980
  3.020
  3.050
  3.080
  3.110
  3.140
  3.170
  3.200
  3.220
  3.240
  3.270
  3.290
  3.310
  3.330
  3.350
  3.360
  3.380
Adjusted equity ratio
  0.178
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212
  0.212

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  32
  35
  39
  43
  47
  52
  57
  62
  68
  74
  80
  93
  100
  108
  116
  125
  134
  143
  154
  164
  176
  188
  201
  214
  229
  244
  260
  277
  295
  314
  334
Depreciation, amort., depletion, $m
  30
  27
  28
  29
  30
  31
  33
  34
  35
  36
  38
  30
  32
  33
  35
  37
  39
  41
  43
  45
  47
  49
  52
  54
  57
  60
  63
  66
  69
  73
  77
Funds from operations, $m
  67
  62
  67
  72
  78
  83
  89
  96
  103
  110
  118
  124
  132
  141
  151
  161
  172
  184
  196
  209
  223
  237
  253
  269
  286
  304
  323
  343
  364
  387
  410
Change in working capital, $m
  -6
  14
  14
  15
  16
  17
  17
  18
  19
  20
  21
  22
  24
  25
  26
  27
  29
  30
  32
  33
  35
  37
  38
  40
  42
  44
  47
  49
  51
  54
  57
Cash from operations, $m
  73
  49
  53
  57
  62
  67
  72
  77
  83
  90
  96
  101
  109
  117
  125
  134
  144
  154
  165
  176
  188
  201
  214
  228
  243
  259
  276
  294
  313
  333
  354
Maintenance CAPEX, $m
  0
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -73
New CAPEX, $m
  -29
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -35
  -36
Cash from investing activities, $m
  -52
  -27
  -28
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -42
  -43
  -45
  -48
  -50
  -52
  -55
  -58
  -61
  -64
  -67
  -70
  -74
  -78
  -81
  -86
  -90
  -94
  -99
  -104
  -109
Free cash flow, $m
  21
  22
  25
  28
  31
  34
  38
  42
  46
  50
  55
  58
  63
  69
  75
  82
  89
  96
  104
  112
  121
  130
  140
  151
  162
  174
  186
  200
  214
  228
  244
Issuance/(repayment) of debt, $m
  -6
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  58
  61
  64
  67
  70
  74
  77
  81
  85
  90
  94
  99
  104
  109
  114
  120
  126
  133
  139
  146
Issuance/(repurchase) of shares, $m
  -2
  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  
  -11
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  58
  61
  64
  67
  70
  74
  77
  81
  85
  90
  94
  99
  104
  109
  114
  120
  126
  133
  139
  146
Total cash flow (excl. dividends), $m
  8
  57
  62
  67
  72
  77
  83
  89
  96
  103
  110
  115
  124
  133
  142
  152
  162
  173
  185
  197
  211
  224
  239
  255
  271
  288
  306
  326
  346
  368
  390
Retained Cash Flow (-), $m
  -21
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -34
  -36
  -37
  -39
Prev. year cash balance distribution, $m
 
  33
  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
 
  81
  52
  56
  61
  66
  71
  76
  82
  89
  95
  100
  107
  115
  124
  133
  142
  152
  163
  174
  186
  199
  212
  227
  242
  257
  274
  292
  310
  330
  351
Discount rate, %
 
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
  21.18
  22.24
  23.35
  24.52
  25.74
  27.03
  28.38
  29.80
  31.29
  32.85
  34.50
  36.22
PV of cash for distribution, $m
 
  74
  43
  42
  41
  39
  37
  35
  32
  29
  26
  23
  20
  17
  14
  12
  10
  8
  6
  5
  3
  2
  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

Park-Ohio Holdings Corp., through its subsidiaries, operates as an industrial supply chain logistics and diversified manufacturing company primarily in the United States, Asia, Europe, Canada, and Mexico. The company operates in three segments: Supply Technologies, Assembly Components, and Engineered Products. The Supply Technologies segment provides Total Supply Management services for various components, including fasteners, pins, valves, hoses, wire harnesses, clamps and fittings, and rubber and plastic components. This segment also offers Total Supply Management services, such as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, delivery, electronic billing, and technical support services. This segment serves customers in heavy-duty truck; power sports and recreational equipment; electrical distribution and controls; consumer electronics; bus and coaches; automotive; agricultural and construction equipment; HVAC; lawn and garden; semiconductor equipment; aerospace and defense; plumbing; and medical. The Assembly Components segment manufactures cast and machined aluminum components, automotive and industrial rubber, thermoplastic products, gasoline direct injection systems, fuel fillers, and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck, and marine equipment industries. This segment also offers design and engineering, machining, and assembly services. The Engineered Products segment manufactures engineered products, including induction heating and melting systems, pipe threading systems, and forged and machined product primarily for the ferrous and non-ferrous metals, silicon, coatings, forging, foundry, automotive, and construction equipment industries. Park-Ohio Holdings Corp. was founded in 1961 and is headquartered in Cleveland, Ohio.

FINANCIAL RATIOS  of  Park-Ohio Holdings (PKOH)

Valuation Ratios
P/E Ratio 15.7
Price to Sales 0.4
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 6.9
Price to Free Cash Flow 11.4
Growth Rates
Sales Growth Rate -12.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -21.6%
Cap. Spend. - 3 Yr. Gr. Rate -0.7%
Financial Strength
Quick Ratio 2
Current Ratio 0.2
LT Debt to Equity 194.2%
Total Debt to Equity 208%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 6.4%
Return On Total Capital 4.8%
Ret/ On T. Cap. - 3 Yr. Avg. 6.7%
Return On Equity 14.8%
Return On Equity - 3 Yr. Avg. 22%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 15.9%
Gross Margin - 3 Yr. Avg. 16.3%
EBITDA Margin 7.6%
EBITDA Margin - 3 Yr. Avg. 8.3%
Operating Margin 5.4%
Oper. Margin - 3 Yr. Avg. 6.4%
Pre-Tax Margin 3.2%
Pre-Tax Margin - 3 Yr. Avg. 4.4%
Net Profit Margin 2.5%
Net Profit Margin - 3 Yr. Avg. 3%
Effective Tax Rate 22%
Eff/ Tax Rate - 3 Yr. Avg. 28.9%
Payout Ratio 18.8%

PKOH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PKOH stock intrinsic value calculation we used $1277 million for the last fiscal year's total revenue generated by Park-Ohio Holdings. The default revenue input number comes from 2016 income statement of Park-Ohio 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 PKOH stock valuation model: a) initial revenue growth rate of 4.9% 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 8.8%, whose default value for PKOH is calculated based on our internal credit rating of Park-Ohio 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 Park-Ohio 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 PKOH stock the variable cost ratio is equal to 84.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $132 million in the base year in the intrinsic value calculation for PKOH 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 5.7% for Park-Ohio Holdings.

Corporate tax rate of 27% is the nominal tax rate for Park-Ohio 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 PKOH 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 PKOH are equal to 14%.

Life of production assets of 10 years is the average useful life of capital assets used in Park-Ohio 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 PKOH is equal to 21.8%. 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 - $226 million for Park-Ohio 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 12.319 million for Park-Ohio 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 Park-Ohio Holdings at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ Park-Ohio beats 2Q profit forecasts   [Aug-08-17 12:05AM  Associated Press]
▶ ParkOhio Announces Strong Second Quarter Results   [Aug-07-17 04:45PM  Business Wire]
▶ ParkOhio Announces Quarterly Dividend   [Jul-28-17 10:15AM  Business Wire]
▶ Park-Ohio meets 1Q profit forecasts   [May-08-17 04:46PM  Associated Press]
▶ ParkOhio Announces Quarterly Dividend   [09:39AM  Business Wire]
▶ Park-Ohio Prices $350 Million Debt Offering   [Apr-05-17 05:02PM  Business Wire]
▶ Park-Ohio misses Street 4Q forecasts   [Mar-07-17 04:56PM  Associated Press]
▶ ParkOhio Announces Quarterly Dividend   [Feb-01-17 12:59PM  Business Wire]
▶ Is Park-Ohio Holdings Corp. (PKOH) A Good Stock to Buy?   [Dec-12-16 05:21PM  at Insider Monkey]
▶ ParkOhio Announces Quarterly Dividend   [Oct-31-16 04:05PM  Business Wire]
▶ ParkOhio Announces Improved Results   [04:21PM  Business Wire]
▶ ParkOhio Announces Quarterly Dividend   [Jul-29-16 04:05PM  Business Wire]
▶ ParkOhio Announces Quarterly Dividend   [Feb-02-16 11:34AM  Business Wire]
Stock chart of PKOH Financial statements of PKOH
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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