Intrinsic value of Douglas Dynamics - PLOW

Previous Close

$33.70

  Intrinsic Value

$156.03

stock screener

  Rating & Target

str. buy

+363%

  Value-price divergence*

-126%

Previous close

$33.70

 
Intrinsic value

$156.03

 
Up/down potential

+363%

 
Rating

str. buy

 
Value-price divergence*

-126%

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

We calculate the intrinsic value of PLOW 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 0.7

 

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, %
  4.00
  46.90
  42.71
  38.94
  35.55
  32.49
  29.74
  27.27
  25.04
  23.04
  21.23
  19.61
  18.15
  16.83
  15.65
  14.59
  13.63
  12.76
  11.99
  11.29
  10.66
  10.09
  9.58
  9.13
  8.71
  8.34
  8.01
  7.71
  7.44
  7.19
  6.97
Revenue, $m
  416
  611
  872
  1,212
  1,642
  2,176
  2,823
  3,593
  4,493
  5,528
  6,701
  8,016
  9,470
  11,064
  12,796
  14,662
  16,660
  18,787
  21,039
  23,414
  25,910
  28,526
  31,260
  34,112
  37,085
  40,179
  43,396
  46,741
  50,217
  53,828
  57,582
Variable operating expenses, $m
 
  483
  679
  934
  1,257
  1,658
  2,143
  2,721
  3,397
  4,174
  5,055
  6,018
  7,110
  8,307
  9,607
  11,008
  12,508
  14,105
  15,796
  17,579
  19,453
  21,417
  23,469
  25,611
  27,843
  30,166
  32,581
  35,092
  37,702
  40,414
  43,232
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
  337
  483
  679
  934
  1,257
  1,658
  2,143
  2,721
  3,397
  4,174
  5,055
  6,018
  7,110
  8,307
  9,607
  11,008
  12,508
  14,105
  15,796
  17,579
  19,453
  21,417
  23,469
  25,611
  27,843
  30,166
  32,581
  35,092
  37,702
  40,414
  43,232
Operating income, $m
  79
  128
  194
  278
  386
  518
  680
  872
  1,096
  1,354
  1,646
  1,998
  2,360
  2,757
  3,189
  3,654
  4,152
  4,682
  5,243
  5,835
  6,457
  7,109
  7,790
  8,501
  9,242
  10,013
  10,815
  11,648
  12,515
  13,415
  14,350
EBITDA, $m
  96
  165
  236
  327
  444
  588
  763
  971
  1,214
  1,493
  1,810
  2,165
  2,558
  2,989
  3,457
  3,961
  4,500
  5,075
  5,683
  6,325
  6,999
  7,705
  8,444
  9,215
  10,018
  10,853
  11,722
  12,626
  13,565
  14,540
  15,554
Interest expense (income), $m
  14
  17
  29
  45
  66
  92
  124
  164
  210
  265
  328
  399
  479
  567
  664
  769
  883
  1,004
  1,133
  1,270
  1,414
  1,566
  1,724
  1,890
  2,064
  2,244
  2,432
  2,627
  2,830
  3,042
  3,261
Earnings before tax, $m
  64
  111
  164
  233
  320
  427
  555
  708
  885
  1,089
  1,318
  1,598
  1,881
  2,190
  2,525
  2,885
  3,269
  3,678
  4,110
  4,565
  5,043
  5,543
  6,066
  6,611
  7,178
  7,769
  8,383
  9,021
  9,684
  10,373
  11,089
Tax expense, $m
  25
  30
  44
  63
  86
  115
  150
  191
  239
  294
  356
  432
  508
  591
  682
  779
  883
  993
  1,110
  1,233
  1,362
  1,497
  1,638
  1,785
  1,938
  2,098
  2,263
  2,436
  2,615
  2,801
  2,994
Net income, $m
  39
  81
  120
  170
  233
  311
  405
  517
  646
  795
  962
  1,167
  1,373
  1,599
  1,843
  2,106
  2,387
  2,685
  3,000
  3,333
  3,681
  4,047
  4,428
  4,826
  5,240
  5,671
  6,119
  6,585
  7,069
  7,572
  8,095

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  19
  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
  666
  950
  1,356
  1,884
  2,554
  3,384
  4,391
  5,588
  6,987
  8,597
  10,422
  12,466
  14,728
  17,207
  19,901
  22,803
  25,910
  29,218
  32,720
  36,414
  40,296
  44,363
  48,615
  53,052
  57,675
  62,486
  67,490
  72,692
  78,097
  83,715
  89,552
Adjusted assets (=assets-cash), $m
  647
  950
  1,356
  1,884
  2,554
  3,384
  4,391
  5,588
  6,987
  8,597
  10,422
  12,466
  14,728
  17,207
  19,901
  22,803
  25,910
  29,218
  32,720
  36,414
  40,296
  44,363
  48,615
  53,052
  57,675
  62,486
  67,490
  72,692
  78,097
  83,715
  89,552
Revenue / Adjusted assets
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
Average production assets, $m
  210
  308
  440
  611
  828
  1,097
  1,423
  1,811
  2,264
  2,786
  3,377
  4,040
  4,773
  5,576
  6,449
  7,390
  8,397
  9,469
  10,604
  11,801
  13,059
  14,377
  15,755
  17,193
  18,691
  20,250
  21,872
  23,557
  25,309
  27,130
  29,021
Working capital, $m
  125
  160
  228
  317
  430
  570
  740
  941
  1,177
  1,448
  1,756
  2,100
  2,481
  2,899
  3,353
  3,842
  4,365
  4,922
  5,512
  6,135
  6,788
  7,474
  8,190
  8,937
  9,716
  10,527
  11,370
  12,246
  13,157
  14,103
  15,087
Total debt, $m
  310
  515
  793
  1,155
  1,614
  2,182
  2,872
  3,692
  4,650
  5,753
  7,003
  8,403
  9,953
  11,651
  13,496
  15,484
  17,613
  19,878
  22,277
  24,808
  27,467
  30,253
  33,165
  36,205
  39,371
  42,667
  46,095
  49,658
  53,361
  57,209
  61,207
Total liabilities, $m
  446
  651
  929
  1,291
  1,750
  2,318
  3,008
  3,828
  4,786
  5,889
  7,139
  8,539
  10,089
  11,787
  13,632
  15,620
  17,749
  20,014
  22,413
  24,944
  27,603
  30,389
  33,301
  36,341
  39,507
  42,803
  46,231
  49,794
  53,497
  57,345
  61,343
Total equity, $m
  220
  299
  427
  594
  805
  1,066
  1,383
  1,760
  2,201
  2,708
  3,283
  3,927
  4,639
  5,420
  6,269
  7,183
  8,162
  9,204
  10,307
  11,470
  12,693
  13,974
  15,314
  16,711
  18,168
  19,683
  21,259
  22,898
  24,601
  26,370
  28,209
Total liabilities and equity, $m
  666
  950
  1,356
  1,885
  2,555
  3,384
  4,391
  5,588
  6,987
  8,597
  10,422
  12,466
  14,728
  17,207
  19,901
  22,803
  25,911
  29,218
  32,720
  36,414
  40,296
  44,363
  48,615
  53,052
  57,675
  62,486
  67,490
  72,692
  78,098
  83,715
  89,552
Debt-to-equity ratio
  1.409
  1.720
  1.860
  1.950
  2.010
  2.050
  2.080
  2.100
  2.110
  2.120
  2.130
  2.140
  2.150
  2.150
  2.150
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.170
  2.170
  2.170
  2.170
  2.170
  2.170
  2.170
  2.170
  2.170
Adjusted equity ratio
  0.311
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  39
  81
  120
  170
  233
  311
  405
  517
  646
  795
  962
  1,167
  1,373
  1,599
  1,843
  2,106
  2,387
  2,685
  3,000
  3,333
  3,681
  4,047
  4,428
  4,826
  5,240
  5,671
  6,119
  6,585
  7,069
  7,572
  8,095
Depreciation, amort., depletion, $m
  17
  37
  42
  49
  58
  69
  83
  99
  118
  139
  164
  168
  198
  231
  268
  307
  348
  393
  440
  490
  542
  597
  654
  713
  776
  840
  908
  977
  1,050
  1,126
  1,204
Funds from operations, $m
  76
  118
  162
  219
  292
  381
  488
  616
  764
  934
  1,126
  1,334
  1,571
  1,830
  2,111
  2,413
  2,735
  3,078
  3,440
  3,822
  4,223
  4,643
  5,082
  5,539
  6,016
  6,511
  7,027
  7,563
  8,120
  8,698
  9,299
Change in working capital, $m
  6
  51
  68
  89
  113
  140
  170
  202
  236
  271
  308
  344
  381
  418
  454
  489
  523
  557
  590
  622
  654
  685
  716
  747
  779
  811
  843
  876
  911
  946
  983
Cash from operations, $m
  70
  66
  94
  130
  179
  241
  319
  414
  528
  663
  819
  990
  1,190
  1,412
  1,657
  1,924
  2,212
  2,521
  2,850
  3,200
  3,569
  3,958
  4,365
  4,792
  5,237
  5,701
  6,184
  6,686
  7,209
  7,752
  8,316
Maintenance CAPEX, $m
  0
  -9
  -13
  -18
  -25
  -34
  -46
  -59
  -75
  -94
  -116
  -140
  -168
  -198
  -231
  -268
  -307
  -348
  -393
  -440
  -490
  -542
  -597
  -654
  -713
  -776
  -840
  -908
  -977
  -1,050
  -1,126
New CAPEX, $m
  -10
  -98
  -132
  -171
  -217
  -269
  -326
  -388
  -453
  -522
  -592
  -662
  -733
  -803
  -873
  -941
  -1,007
  -1,072
  -1,135
  -1,197
  -1,258
  -1,318
  -1,378
  -1,438
  -1,498
  -1,559
  -1,622
  -1,686
  -1,752
  -1,820
  -1,892
Cash from investing activities, $m
  -191
  -107
  -145
  -189
  -242
  -303
  -372
  -447
  -528
  -616
  -708
  -802
  -901
  -1,001
  -1,104
  -1,209
  -1,314
  -1,420
  -1,528
  -1,637
  -1,748
  -1,860
  -1,975
  -2,092
  -2,211
  -2,335
  -2,462
  -2,594
  -2,729
  -2,870
  -3,018
Free cash flow, $m
  -121
  -41
  -51
  -59
  -64
  -62
  -53
  -33
  0
  47
  112
  188
  289
  411
  553
  715
  898
  1,100
  1,322
  1,563
  1,822
  2,098
  2,391
  2,700
  3,025
  3,366
  3,722
  4,093
  4,480
  4,881
  5,298
Issuance/(repayment) of debt, $m
  127
  208
  278
  362
  459
  568
  689
  820
  958
  1,103
  1,250
  1,400
  1,550
  1,698
  1,845
  1,988
  2,129
  2,265
  2,399
  2,530
  2,659
  2,786
  2,913
  3,039
  3,167
  3,296
  3,428
  3,563
  3,703
  3,848
  3,999
Issuance/(repurchase) of shares, $m
  0
  14
  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
Cash from financing (excl. dividends), $m  
  124
  222
  286
  362
  459
  568
  689
  820
  958
  1,103
  1,250
  1,400
  1,550
  1,698
  1,845
  1,988
  2,129
  2,265
  2,399
  2,530
  2,659
  2,786
  2,913
  3,039
  3,167
  3,296
  3,428
  3,563
  3,703
  3,848
  3,999
Total cash flow (excl. dividends), $m
  3
  182
  235
  303
  395
  506
  636
  787
  958
  1,150
  1,362
  1,588
  1,839
  2,109
  2,398
  2,704
  3,026
  3,366
  3,722
  4,093
  4,481
  4,884
  5,304
  5,739
  6,192
  6,662
  7,150
  7,656
  8,182
  8,729
  9,297
Retained Cash Flow (-), $m
  -19
  -95
  -128
  -166
  -211
  -261
  -317
  -377
  -441
  -507
  -575
  -644
  -713
  -781
  -848
  -914
  -979
  -1,042
  -1,103
  -1,164
  -1,223
  -1,281
  -1,339
  -1,398
  -1,456
  -1,516
  -1,576
  -1,638
  -1,703
  -1,769
  -1,839
Prev. year cash balance distribution, $m
 
  16
  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
 
  102
  107
  136
  184
  245
  319
  410
  518
  643
  787
  944
  1,126
  1,328
  1,549
  1,789
  2,048
  2,324
  2,618
  2,930
  3,258
  3,603
  3,964
  4,342
  4,736
  5,146
  5,574
  6,018
  6,480
  6,960
  7,458
Discount rate, %
 
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
 
  95
  91
  105
  128
  152
  176
  198
  216
  230
  238
  238
  233
  223
  207
  187
  165
  141
  118
  96
  75
  58
  43
  31
  22
  15
  10
  6
  4
  2
  1
Current shareholders' claim on cash, %
  100
  97.9
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2
  97.2

Douglas Dynamics, Inc. manufactures and sells snow and ice control equipment in the United States and Canada. The company offers snowplows, sand and salt spreaders, dump bodies, muni-bodies, replacement parts, and related parts and accessories. It offers snow and ice management attachments under the BLIZZARD, FISHER, SNOWEX, and WESTERN brand names; turf care equipment under the TURFEX brand name; and industrial maintenance equipment under the SWEEPEX brand name. The company also provides customized turnkey solutions to governmental agencies, such as Departments of Transportation and municipalities. It sells its products through a distributor network primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal, and residential areas. The company was founded in 2004 and is headquartered in Milwaukee, Wisconsin.

FINANCIAL RATIOS  of  Douglas Dynamics (PLOW)

Valuation Ratios
P/E Ratio 19.4
Price to Sales 1.8
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 10.8
Price to Free Cash Flow 12.6
Growth Rates
Sales Growth Rate 4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 27.2%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 139.5%
Total Debt to Equity 140.9%
Interest Coverage 6
Management Effectiveness
Return On Assets 8.1%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 8.5%
Ret/ On T. Cap. - 3 Yr. Avg. 10.9%
Return On Equity 18.5%
Return On Equity - 3 Yr. Avg. 22.1%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 32.2%
Gross Margin - 3 Yr. Avg. 34.5%
EBITDA Margin 22.8%
EBITDA Margin - 3 Yr. Avg. 23.7%
Operating Margin 19%
Oper. Margin - 3 Yr. Avg. 20.5%
Pre-Tax Margin 15.4%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 9.4%
Net Profit Margin - 3 Yr. Avg. 11.2%
Effective Tax Rate 39.1%
Eff/ Tax Rate - 3 Yr. Avg. 36%
Payout Ratio 53.8%

PLOW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PLOW stock intrinsic value calculation we used $416 million for the last fiscal year's total revenue generated by Douglas Dynamics. The default revenue input number comes from 2016 income statement of Douglas Dynamics. 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 PLOW stock valuation model: a) initial revenue growth rate of 46.9% 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 8.2%, whose default value for PLOW is calculated based on our internal credit rating of Douglas Dynamics, 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 Douglas Dynamics.
    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 PLOW stock the variable cost ratio is equal to 80.8%.

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 PLOW 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 Douglas Dynamics.

Corporate tax rate of 27% is the nominal tax rate for Douglas Dynamics. 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 PLOW 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 PLOW are equal to 50.4%.

Life of production assets of 24.1 years is the average useful life of capital assets used in Douglas Dynamics 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 PLOW is equal to 26.2%. 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 - $220 million for Douglas Dynamics - 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 21.815 million for Douglas Dynamics 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 Douglas Dynamics at the current share price and the inputted number of shares is $0.7 billion.

RELATED COMPANIES Price Int.Val. Rating
TTC Toro 73.02 31.89  str.sell
BGG Briggs&Stratto 24.09 12.37  sell
SWK Stanley Black& 140.66 195.00  buy
DE Deere 126.63 44.06  str.sell

COMPANY NEWS

▶ Top Ranked Income Stocks to Buy for August 14th   [Aug-14-17 08:32AM  Zacks]
▶ Douglas Dynamics Gets Balance From Business Diversity   [Aug-08-17 07:30AM  Motley Fool]
▶ Douglas Dynamics beats 2Q profit forecasts   [Aug-07-17 07:16PM  Associated Press]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Jun-08-17 04:15PM  GlobeNewswire]
▶ Tampa real estate lawyer facing insider charges vows to fight   [Jun-06-17 08:00AM  American City Business Journals]
▶ New Strong Sell Stocks for May 11th   [May-11-17 09:14AM  Zacks]
▶ Douglas Dynamics Looks Forward to Better Times Ahead   [May-08-17 09:39PM  Motley Fool]
▶ Douglas Dynamics reports 1Q loss   [06:32PM  Associated Press]
▶ Southeast Wisconsin stocks that could extend bull-market runs   [Apr-07-17 03:35PM  American City Business Journals]
▶ Douglas Dynamics meets 4Q expectations despite lower snowfall   [11:35AM  American City Business Journals]
▶ Douglas Dynamics Overcomes a Weak Winter   [Mar-06-17 09:49PM  Motley Fool]
▶ Douglas Dynamics misses 4Q revenue forecasts   [06:26PM  Associated Press]
▶ 3 Small-Cap Stocks to Buy in February   [Jan-28-17 07:27PM  at Motley Fool]
▶ Small Caps With Big Yields   [Dec-14-16 09:30AM  at Forbes]
▶ Is Douglas Dynamics Inc (PLOW) A Good Stock To Buy?   [Dec-11-16 09:54AM  at Insider Monkey]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Dec-09-16 07:00AM  GlobeNewswire]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Sep-09-16 07:00AM  GlobeNewswire]
Stock chart of PLOW Financial statements of PLOW
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.