Intrinsic value of Potash of Saskatchewan - POT

Previous Close

$17.23

  Intrinsic Value

$2.48

stock screener

  Rating & Target

str. sell

-86%

  Value-price divergence*

-90%

Previous close

$17.23

 
Intrinsic value

$2.48

 
Up/down potential

-86%

 
Rating

str. sell

 
Value-price divergence*

-90%

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

We calculate the intrinsic value of POT 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 14.1

 

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, %
  -29.03
  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
  4,456
  4,545
  4,650
  4,769
  4,903
  5,052
  5,215
  5,393
  5,585
  5,792
  6,014
  6,252
  6,506
  6,776
  7,063
  7,368
  7,691
  8,033
  8,394
  8,776
  9,179
  9,605
  10,053
  10,526
  11,025
  11,549
  12,102
  12,684
  13,296
  13,940
  14,617
Variable operating expenses, $m
 
  1,227
  1,255
  1,287
  1,323
  1,363
  1,406
  1,454
  1,505
  1,561
  1,620
  1,674
  1,742
  1,815
  1,892
  1,973
  2,060
  2,151
  2,248
  2,350
  2,458
  2,572
  2,693
  2,819
  2,953
  3,093
  3,241
  3,397
  3,561
  3,733
  3,915
Fixed operating expenses, $m
 
  2,806
  2,877
  2,949
  3,022
  3,098
  3,175
  3,255
  3,336
  3,419
  3,505
  3,592
  3,682
  3,774
  3,869
  3,965
  4,065
  4,166
  4,270
  4,377
  4,487
  4,599
  4,714
  4,832
  4,952
  5,076
  5,203
  5,333
  5,466
  5,603
  5,743
Total operating expenses, $m
  3,874
  4,033
  4,132
  4,236
  4,345
  4,461
  4,581
  4,709
  4,841
  4,980
  5,125
  5,266
  5,424
  5,589
  5,761
  5,938
  6,125
  6,317
  6,518
  6,727
  6,945
  7,171
  7,407
  7,651
  7,905
  8,169
  8,444
  8,730
  9,027
  9,336
  9,658
Operating income, $m
  582
  512
  518
  534
  558
  591
  633
  684
  743
  812
  889
  985
  1,081
  1,187
  1,303
  1,429
  1,566
  1,715
  1,876
  2,048
  2,234
  2,434
  2,647
  2,876
  3,120
  3,380
  3,658
  3,954
  4,268
  4,603
  4,959
EBITDA, $m
  1,277
  1,224
  1,246
  1,280
  1,326
  1,382
  1,449
  1,527
  1,616
  1,717
  1,828
  1,952
  2,087
  2,234
  2,394
  2,568
  2,755
  2,957
  3,173
  3,405
  3,653
  3,918
  4,201
  4,503
  4,824
  5,165
  5,528
  5,914
  6,323
  6,758
  7,218
Interest expense (income), $m
  189
  196
  203
  213
  223
  235
  248
  262
  277
  294
  312
  331
  352
  374
  397
  422
  449
  477
  507
  538
  571
  607
  644
  683
  724
  767
  813
  861
  911
  965
  1,021
Earnings before tax, $m
  366
  316
  315
  321
  335
  357
  386
  422
  466
  518
  577
  654
  729
  813
  905
  1,007
  1,117
  1,238
  1,369
  1,510
  1,663
  1,827
  2,004
  2,193
  2,396
  2,613
  2,845
  3,093
  3,357
  3,639
  3,938
Tax expense, $m
  43
  85
  85
  87
  91
  96
  104
  114
  126
  140
  156
  177
  197
  219
  244
  272
  302
  334
  370
  408
  449
  493
  541
  592
  647
  706
  768
  835
  906
  982
  1,063
Net income, $m
  323
  230
  230
  234
  245
  261
  282
  308
  340
  378
  421
  477
  532
  593
  661
  735
  816
  904
  999
  1,102
  1,214
  1,334
  1,463
  1,601
  1,749
  1,908
  2,077
  2,258
  2,451
  2,656
  2,875

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  32
  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
  17,255
  17,549
  17,952
  18,414
  18,932
  19,506
  20,135
  20,821
  21,563
  22,363
  23,221
  24,140
  25,119
  26,162
  27,271
  28,447
  29,694
  31,014
  32,409
  33,884
  35,441
  37,083
  38,816
  40,642
  42,566
  44,592
  46,726
  48,972
  51,335
  53,821
  56,436
Adjusted assets (=assets-cash), $m
  17,223
  17,549
  17,952
  18,414
  18,932
  19,506
  20,135
  20,821
  21,563
  22,363
  23,221
  24,140
  25,119
  26,162
  27,271
  28,447
  29,694
  31,014
  32,409
  33,884
  35,441
  37,083
  38,816
  40,642
  42,566
  44,592
  46,726
  48,972
  51,335
  53,821
  56,436
Revenue / Adjusted assets
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
  0.259
Average production assets, $m
  13,433
  13,699
  14,014
  14,374
  14,779
  15,227
  15,718
  16,254
  16,833
  17,457
  18,127
  18,844
  19,609
  20,423
  21,288
  22,207
  23,180
  24,210
  25,299
  26,451
  27,666
  28,948
  30,301
  31,726
  33,228
  34,810
  36,476
  38,229
  40,073
  42,014
  44,055
Working capital, $m
  -303
  559
  572
  587
  603
  621
  641
  663
  687
  712
  740
  769
  800
  833
  869
  906
  946
  988
  1,032
  1,079
  1,129
  1,181
  1,237
  1,295
  1,356
  1,421
  1,489
  1,560
  1,635
  1,715
  1,798
Total debt, $m
  4,591
  4,731
  4,942
  5,184
  5,455
  5,756
  6,086
  6,445
  6,834
  7,253
  7,703
  8,184
  8,697
  9,244
  9,825
  10,441
  11,095
  11,786
  12,517
  13,290
  14,106
  14,967
  15,874
  16,831
  17,840
  18,901
  20,019
  21,196
  22,434
  23,737
  25,107
Total liabilities, $m
  9,056
  9,196
  9,407
  9,649
  9,920
  10,221
  10,551
  10,910
  11,299
  11,718
  12,168
  12,649
  13,162
  13,709
  14,290
  14,906
  15,560
  16,251
  16,982
  17,755
  18,571
  19,432
  20,339
  21,296
  22,305
  23,366
  24,484
  25,661
  26,899
  28,202
  29,572
Total equity, $m
  8,199
  8,353
  8,545
  8,765
  9,011
  9,285
  9,584
  9,911
  10,264
  10,645
  11,053
  11,490
  11,957
  12,453
  12,981
  13,541
  14,134
  14,763
  15,427
  16,129
  16,870
  17,652
  18,476
  19,346
  20,261
  21,226
  22,242
  23,311
  24,435
  25,619
  26,864
Total liabilities and equity, $m
  17,255
  17,549
  17,952
  18,414
  18,931
  19,506
  20,135
  20,821
  21,563
  22,363
  23,221
  24,139
  25,119
  26,162
  27,271
  28,447
  29,694
  31,014
  32,409
  33,884
  35,441
  37,084
  38,815
  40,642
  42,566
  44,592
  46,726
  48,972
  51,334
  53,821
  56,436
Debt-to-equity ratio
  0.560
  0.570
  0.580
  0.590
  0.610
  0.620
  0.630
  0.650
  0.670
  0.680
  0.700
  0.710
  0.730
  0.740
  0.760
  0.770
  0.780
  0.800
  0.810
  0.820
  0.840
  0.850
  0.860
  0.870
  0.880
  0.890
  0.900
  0.910
  0.920
  0.930
  0.930
Adjusted equity ratio
  0.474
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  323
  230
  230
  234
  245
  261
  282
  308
  340
  378
  421
  477
  532
  593
  661
  735
  816
  904
  999
  1,102
  1,214
  1,334
  1,463
  1,601
  1,749
  1,908
  2,077
  2,258
  2,451
  2,656
  2,875
Depreciation, amort., depletion, $m
  695
  712
  728
  747
  768
  791
  816
  843
  873
  905
  939
  966
  1,006
  1,047
  1,092
  1,139
  1,189
  1,242
  1,297
  1,356
  1,419
  1,485
  1,554
  1,627
  1,704
  1,785
  1,871
  1,960
  2,055
  2,155
  2,259
Funds from operations, $m
  1,320
  943
  958
  981
  1,012
  1,051
  1,097
  1,152
  1,213
  1,283
  1,361
  1,444
  1,538
  1,641
  1,753
  1,874
  2,004
  2,145
  2,297
  2,459
  2,633
  2,818
  3,016
  3,228
  3,453
  3,693
  3,947
  4,218
  4,506
  4,811
  5,134
Change in working capital, $m
  60
  11
  13
  15
  17
  18
  20
  22
  24
  25
  27
  29
  31
  33
  35
  37
  40
  42
  44
  47
  50
  52
  55
  58
  61
  65
  68
  72
  75
  79
  83
Cash from operations, $m
  1,260
  932
  945
  967
  996
  1,033
  1,077
  1,130
  1,190
  1,257
  1,333
  1,414
  1,507
  1,608
  1,717
  1,836
  1,965
  2,103
  2,252
  2,412
  2,583
  2,766
  2,961
  3,170
  3,392
  3,628
  3,879
  4,147
  4,430
  4,732
  5,051
Maintenance CAPEX, $m
  0
  -689
  -703
  -719
  -737
  -758
  -781
  -806
  -834
  -863
  -895
  -930
  -966
  -1,006
  -1,047
  -1,092
  -1,139
  -1,189
  -1,242
  -1,297
  -1,356
  -1,419
  -1,485
  -1,554
  -1,627
  -1,704
  -1,785
  -1,871
  -1,960
  -2,055
  -2,155
New CAPEX, $m
  -893
  -266
  -315
  -360
  -404
  -448
  -492
  -535
  -579
  -624
  -670
  -717
  -765
  -814
  -865
  -918
  -973
  -1,030
  -1,089
  -1,151
  -1,215
  -1,282
  -1,352
  -1,426
  -1,502
  -1,582
  -1,666
  -1,753
  -1,845
  -1,941
  -2,041
Cash from investing activities, $m
  -895
  -955
  -1,018
  -1,079
  -1,141
  -1,206
  -1,273
  -1,341
  -1,413
  -1,487
  -1,565
  -1,647
  -1,731
  -1,820
  -1,912
  -2,010
  -2,112
  -2,219
  -2,331
  -2,448
  -2,571
  -2,701
  -2,837
  -2,980
  -3,129
  -3,286
  -3,451
  -3,624
  -3,805
  -3,996
  -4,196
Free cash flow, $m
  365
  -24
  -72
  -112
  -146
  -173
  -195
  -212
  -223
  -230
  -232
  -232
  -224
  -212
  -195
  -174
  -147
  -116
  -79
  -37
  11
  65
  124
  190
  263
  342
  429
  523
  625
  736
  855
Issuance/(repayment) of debt, $m
  360
  172
  211
  242
  271
  301
  330
  359
  389
  419
  450
  481
  513
  547
  581
  616
  653
  691
  731
  773
  816
  861
  908
  957
  1,008
  1,062
  1,118
  1,177
  1,238
  1,303
  1,370
Issuance/(repurchase) of shares, $m
  25
  0
  0
  0
  2
  13
  18
  18
  13
  3
  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  
  385
  172
  211
  242
  273
  314
  348
  377
  402
  422
  450
  481
  513
  547
  581
  616
  653
  691
  731
  773
  816
  861
  908
  957
  1,008
  1,062
  1,118
  1,177
  1,238
  1,303
  1,370
Total cash flow (excl. dividends), $m
  750
  148
  139
  129
  128
  140
  153
  166
  179
  192
  218
  249
  289
  334
  385
  443
  506
  576
  652
  736
  827
  926
  1,032
  1,147
  1,271
  1,404
  1,547
  1,700
  1,863
  2,038
  2,225
Retained Cash Flow (-), $m
  183
  -154
  -192
  -220
  -247
  -273
  -300
  -326
  -353
  -381
  -409
  -437
  -466
  -497
  -528
  -560
  -593
  -628
  -664
  -702
  -741
  -782
  -825
  -869
  -916
  -965
  -1,016
  -1,069
  -1,125
  -1,183
  -1,245
Prev. year cash balance distribution, $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 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
 
  -6
  -53
  -90
  -119
  -133
  -147
  -161
  -175
  -189
  -191
  -188
  -177
  -162
  -142
  -117
  -87
  -52
  -12
  34
  86
  144
  208
  278
  355
  439
  531
  631
  739
  855
  981
Discount rate, %
 
  6.50
  6.83
  7.17
  7.52
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
PV of cash for distribution, $m
 
  -6
  -46
  -73
  -89
  -91
  -91
  -90
  -87
  -83
  -73
  -62
  -50
  -39
  -28
  -19
  -12
  -5
  -1
  2
  4
  5
  5
  5
  4
  4
  3
  2
  2
  1
  1
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  99.9
  99.8
  99.7
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6
  99.6

Potash Corporation of Saskatchewan Inc., together with its subsidiaries, produces and sells fertilizers, and related industrial and feed products worldwide. It operates in three segments: Potash, Nitrogen, and Phosphate. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate, and phosphoric acid; and ammonia, urea, nitric acid, ammonium nitrate, and nitrogen solutions, as well as purified acids and metal finishing products. It owns and operates five potash mines in Saskatchewan and one potash mine in New Brunswick. The company sells its products to wholesalers, retailers, and cooperatives. Potash Corporation of Saskatchewan Inc. was founded in 1953 and is headquartered in Saskatoon, Canada.

FINANCIAL RATIOS  of  Potash of Saskatchewan (POT)

Valuation Ratios
P/E Ratio 44.8
Price to Sales 3.2
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow 39.4
Growth Rates
Sales Growth Rate -29%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -26.6%
Cap. Spend. - 3 Yr. Gr. Rate -11.3%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 45.2%
Total Debt to Equity 56%
Interest Coverage 3
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. 6.7%
Return On Total Capital 2.5%
Ret/ On T. Cap. - 3 Yr. Avg. 8%
Return On Equity 3.9%
Return On Equity - 3 Yr. Avg. 11.8%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 18.6%
Gross Margin - 3 Yr. Avg. 30.7%
EBITDA Margin 28.1%
EBITDA Margin - 3 Yr. Avg. 37.4%
Operating Margin 13.1%
Oper. Margin - 3 Yr. Avg. 25.5%
Pre-Tax Margin 8.2%
Pre-Tax Margin - 3 Yr. Avg. 22%
Net Profit Margin 7.2%
Net Profit Margin - 3 Yr. Avg. 16.4%
Effective Tax Rate 11.7%
Eff/ Tax Rate - 3 Yr. Avg. 22.3%
Payout Ratio 250.5%

POT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the POT stock intrinsic value calculation we used $4456 million for the last fiscal year's total revenue generated by Potash of Saskatchewan. The default revenue input number comes from 2016 income statement of Potash of Saskatchewan. 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 POT 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 6.5%, whose default value for POT is calculated based on our internal credit rating of Potash of Saskatchewan, 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 Potash of Saskatchewan.
    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 POT stock the variable cost ratio is equal to 27%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2738 million in the base year in the intrinsic value calculation for POT 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 4.3% for Potash of Saskatchewan.

Corporate tax rate of 27% is the nominal tax rate for Potash of Saskatchewan. 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 POT 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 POT are equal to 301.4%.

Life of production assets of 19.5 years is the average useful life of capital assets used in Potash of Saskatchewan 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 POT is equal to 12.3%. 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 - $8199 million for Potash of Saskatchewan - 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 816.21 million for Potash of Saskatchewan 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 Potash of Saskatchewan at the current share price and the inputted number of shares is $14.1 billion.

RELATED COMPANIES Price Int.Val. Rating
MOS Mosaic 19.86 5.74  str.sell
AGU Agrium 97.19 54.51  sell
IPI Intrepid Potas 3.29 1.29  str.sell
SQM Sociedad Quimi 42.91 73.89  str.buy
IPHS Innophos Holdi 44.50 20.45  str.sell

COMPANY NEWS

▶ Behind Deeres Valuations ahead of Its Fiscal 3Q17 Results   [Aug-16-17 09:07AM  Market Realist]
▶ Why Deeres Analysts Expect Higher Revenues in Fiscal 3Q17   [Aug-15-17 03:36PM  Market Realist]
▶ IPIs Potash Segments Price Realization Rose 22% in 2Q17   [Aug-08-17 04:05PM  Market Realist]
▶ Why PotashCorp Is Concerned about Phosphate Prices   [Aug-02-17 09:07AM  Market Realist]
▶ How Did Natural Gas Prices Trend Last Week?   [Aug-01-17 05:35PM  Market Realist]
▶ PotashCorp Potash Prices Rose 13% in 2Q17   [07:39AM  Market Realist]
▶ Potash Corp. misses 2Q profit forecasts   [Jul-27-17 03:35PM  Associated Press]
▶ Why Mosaics Gross Margins Could Expand in 2Q17   [Jul-21-17 09:14AM  Market Realist]
▶ PotashCorps Operating Costs Are Expected to Rise   [Jul-20-17 07:39AM  Market Realist]
▶ These Stocks Have Changed Direction   [02:00PM  TheStreet.com]
▶ Cotton Continues to Move Lower This Week   [Jul-13-17 10:15AM  Market Realist]
▶ Why Intrepid Potash Stock Jumped 10% on Monday   [Jul-10-17 04:51PM  Motley Fool]
▶ Fertilizer Input: Natural Gas Prices for Week Ended June 30   [Jul-03-17 02:05PM  Market Realist]
▶ Analyzing Natural Gas Price Movements Last Week   [Jun-26-17 12:35PM  Market Realist]
▶ Fertilizer Affordability for the Week Ending June 16   [Jun-22-17 07:35AM  Market Realist]
▶ Agrium-Potash merged company to be called Nutrien   [Jun-21-17 03:24PM  Reuters]
▶ Nitrogen Input: Why Natural Gas Prices Fell Last Week   [Jun-20-17 10:36AM  Market Realist]
▶ How Wheat Prices Moved in June 2017   [Jun-16-17 07:37AM  Market Realist]
▶ Your Soybean Price Update for June 2017   [Jun-15-17 06:05PM  Market Realist]
▶ 10 High-Quality Foreign-Stock Bargains   [06:00AM  Morningstar]
▶ June Update: What Analysts Recommend for PotashCorp   [Jun-12-17 03:35PM  Market Realist]
▶ Why Did Natural Gas Prices Fall Last Week?   [10:11AM  Market Realist]
▶ Natural Gas Prices Rose: What It Means for Fertilizers   [Jun-06-17 09:35AM  Market Realist]
▶ 2 Top Potash Stocks to Buy in 2017   [May-27-17 11:17AM  Motley Fool]
▶ 2 Top Farm Stocks to Buy in 2017   [May-23-17 11:31AM  Motley Fool]
▶ Analyzing Nitrogen Fertilizer Shipment Growth in 1Q17   [May-17-17 01:07PM  Market Realist]
▶ Agriums Price Target Cut to $104.4 Post-Earnings   [May-12-17 04:35PM  Market Realist]
▶ PotashCorp Announces Election of Directors   [May-09-17 08:41PM  PR Newswire]
▶ Potash Prices Fell for the Week Ending April 28   [May-02-17 10:37AM  Market Realist]
▶ Inside PotashCorp 1Q17s Segment Margins   [10:36AM  Market Realist]
Stock chart of POT Financial statements of POT
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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