Intrinsic value of Proto Labs - PRLB

Previous Close

$86.35

  Intrinsic Value

$30.02

stock screener

  Rating & Target

str. sell

-65%

Previous close

$86.35

 
Intrinsic value

$30.02

 
Up/down potential

-65%

 
Rating

str. sell

We calculate the intrinsic value of PRLB 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 2.3

 

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, %
  12.88
  9.30
  8.87
  8.48
  8.13
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
  5.25
  5.23
  5.20
Revenue, $m
  298
  326
  355
  385
  416
  449
  482
  517
  554
  592
  631
  672
  715
  760
  806
  854
  904
  957
  1,011
  1,069
  1,128
  1,190
  1,256
  1,324
  1,395
  1,469
  1,547
  1,629
  1,715
  1,804
  1,898
Variable operating expenses, $m
 
  242
  264
  286
  309
  333
  358
  383
  410
  438
  467
  494
  526
  558
  593
  628
  665
  703
  744
  786
  830
  875
  923
  973
  1,026
  1,080
  1,138
  1,198
  1,261
  1,327
  1,396
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
  236
  242
  264
  286
  309
  333
  358
  383
  410
  438
  467
  494
  526
  558
  593
  628
  665
  703
  744
  786
  830
  875
  923
  973
  1,026
  1,080
  1,138
  1,198
  1,261
  1,327
  1,396
Operating income, $m
  62
  83
  91
  99
  107
  116
  125
  134
  144
  154
  164
  178
  189
  201
  213
  226
  239
  253
  268
  283
  299
  315
  332
  350
  369
  389
  410
  431
  454
  478
  503
EBITDA, $m
  79
  102
  111
  120
  130
  140
  150
  161
  173
  185
  197
  210
  223
  237
  251
  266
  282
  298
  315
  333
  352
  371
  392
  413
  435
  458
  483
  508
  535
  563
  592
Interest expense (income), $m
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  6
  6
Earnings before tax, $m
  64
  83
  91
  99
  107
  115
  124
  133
  143
  153
  163
  177
  188
  199
  211
  224
  237
  251
  265
  280
  296
  312
  329
  347
  365
  385
  405
  426
  449
  472
  496
Tax expense, $m
  21
  22
  25
  27
  29
  31
  34
  36
  39
  41
  44
  48
  51
  54
  57
  60
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  109
  115
  121
  127
  134
Net income, $m
  43
  61
  66
  72
  78
  84
  91
  97
  104
  112
  119
  129
  137
  146
  154
  164
  173
  183
  194
  204
  216
  228
  240
  253
  267
  281
  296
  311
  327
  345
  362

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  108
  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
  414
  334
  364
  395
  427
  460
  495
  531
  569
  608
  648
  690
  734
  780
  827
  877
  928
  982
  1,038
  1,097
  1,158
  1,222
  1,289
  1,359
  1,432
  1,509
  1,589
  1,673
  1,760
  1,852
  1,949
Adjusted assets (=assets-cash), $m
  306
  334
  364
  395
  427
  460
  495
  531
  569
  608
  648
  690
  734
  780
  827
  877
  928
  982
  1,038
  1,097
  1,158
  1,222
  1,289
  1,359
  1,432
  1,509
  1,589
  1,673
  1,760
  1,852
  1,949
Revenue / Adjusted assets
  0.974
  0.976
  0.975
  0.975
  0.974
  0.976
  0.974
  0.974
  0.974
  0.974
  0.974
  0.974
  0.974
  0.974
  0.975
  0.974
  0.974
  0.975
  0.974
  0.974
  0.974
  0.974
  0.974
  0.974
  0.974
  0.973
  0.974
  0.974
  0.974
  0.974
  0.974
Average production assets, $m
  135
  148
  161
  174
  188
  203
  218
  234
  251
  268
  286
  305
  324
  344
  365
  387
  410
  433
  458
  484
  511
  539
  569
  600
  632
  666
  701
  738
  777
  817
  860
Working capital, $m
  135
  30
  32
  35
  38
  41
  44
  47
  50
  54
  57
  61
  65
  69
  73
  78
  82
  87
  92
  97
  103
  108
  114
  120
  127
  134
  141
  148
  156
  164
  173
Total debt, $m
  0
  3
  6
  10
  13
  17
  21
  25
  29
  33
  38
  43
  47
  53
  58
  63
  69
  75
  81
  88
  95
  102
  109
  117
  125
  133
  142
  152
  161
  172
  182
Total liabilities, $m
  34
  37
  40
  44
  47
  51
  55
  59
  63
  67
  72
  77
  81
  87
  92
  97
  103
  109
  115
  122
  129
  136
  143
  151
  159
  167
  176
  186
  195
  206
  216
Total equity, $m
  380
  297
  324
  351
  380
  409
  440
  472
  506
  540
  576
  614
  653
  693
  736
  780
  825
  873
  923
  975
  1,030
  1,087
  1,146
  1,208
  1,273
  1,341
  1,412
  1,487
  1,565
  1,647
  1,733
Total liabilities and equity, $m
  414
  334
  364
  395
  427
  460
  495
  531
  569
  607
  648
  691
  734
  780
  828
  877
  928
  982
  1,038
  1,097
  1,159
  1,223
  1,289
  1,359
  1,432
  1,508
  1,588
  1,673
  1,760
  1,853
  1,949
Debt-to-equity ratio
  0.000
  0.010
  0.020
  0.030
  0.040
  0.040
  0.050
  0.050
  0.060
  0.060
  0.070
  0.070
  0.070
  0.080
  0.080
  0.080
  0.080
  0.090
  0.090
  0.090
  0.090
  0.090
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.110
Adjusted equity ratio
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889
  0.889

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  43
  61
  66
  72
  78
  84
  91
  97
  104
  112
  119
  129
  137
  146
  154
  164
  173
  183
  194
  204
  216
  228
  240
  253
  267
  281
  296
  311
  327
  345
  362
Depreciation, amort., depletion, $m
  17
  18
  20
  21
  23
  24
  26
  27
  29
  31
  33
  32
  34
  36
  38
  40
  43
  45
  48
  50
  53
  56
  59
  62
  66
  69
  73
  77
  81
  85
  90
Funds from operations, $m
  83
  79
  86
  93
  101
  108
  116
  125
  133
  142
  152
  161
  171
  181
  192
  204
  216
  228
  241
  255
  269
  284
  299
  315
  332
  350
  369
  388
  408
  430
  452
Change in working capital, $m
  8
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
Cash from operations, $m
  75
  77
  83
  90
  98
  105
  113
  121
  130
  139
  148
  157
  167
  177
  188
  199
  211
  224
  236
  250
  264
  278
  293
  309
  326
  343
  362
  381
  401
  422
  443
Maintenance CAPEX, $m
  0
  -14
  -15
  -17
  -18
  -20
  -21
  -23
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -43
  -45
  -48
  -50
  -53
  -56
  -59
  -62
  -66
  -69
  -73
  -77
  -81
  -85
New CAPEX, $m
  -34
  -13
  -13
  -14
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -39
  -41
  -43
Cash from investing activities, $m
  -61
  -27
  -28
  -31
  -32
  -35
  -36
  -39
  -41
  -43
  -46
  -49
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -77
  -81
  -86
  -90
  -94
  -100
  -104
  -110
  -116
  -122
  -128
Free cash flow, $m
  14
  50
  55
  60
  65
  71
  77
  83
  89
  96
  102
  109
  116
  123
  131
  140
  148
  157
  166
  176
  186
  197
  208
  219
  231
  244
  257
  271
  285
  300
  316
Issuance/(repayment) of debt, $m
  0
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
Issuance/(repurchase) of shares, $m
  6
  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  
  8
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
Total cash flow (excl. dividends), $m
  21
  53
  58
  63
  69
  75
  81
  87
  93
  100
  107
  113
  121
  129
  137
  145
  154
  163
  173
  183
  193
  204
  215
  227
  239
  252
  266
  280
  295
  310
  327
Retained Cash Flow (-), $m
  -52
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
Prev. year cash balance distribution, $m
 
  108
  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
 
  136
  32
  36
  40
  45
  50
  55
  60
  65
  71
  76
  82
  88
  94
  101
  108
  115
  123
  130
  139
  147
  156
  165
  174
  184
  195
  205
  217
  228
  241
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  130
  29
  31
  33
  35
  36
  37
  37
  37
  37
  36
  35
  33
  32
  30
  27
  25
  23
  20
  18
  15
  13
  11
  9
  7
  6
  4
  3
  2
  2
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

Proto Labs, Inc. is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company's geographic segments include the United States, Europe and Japan. The Company targets its products to the product developers and engineers who use 3D computer-aided design (3D CAD) software to design products across a range of end markets. Its product lines include Injection Molding, CNC Machining and 3D Printing. Its Injection Molding product line is used for prototype, on-demand and short-run production. Its CNC Machining product line uses commercially available CNC machines to cut plastic or metal blocks into one or more custom parts based on the 3D CAD model uploaded by the product developer or engineer. Its 3D Printing product line includes stereolithography (SL), selective laser sintering (SLS) and direct metal laser sintering (DMLS) processes.

FINANCIAL RATIOS  of  Proto Labs (PRLB)

Valuation Ratios
P/E Ratio 53.2
Price to Sales 7.7
Price to Book 6
Price to Tangible Book
Price to Cash Flow 30.5
Price to Free Cash Flow 55.8
Growth Rates
Sales Growth Rate 12.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -22.7%
Cap. Spend. - 3 Yr. Gr. Rate 12.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.3
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 11.1%
Ret/ On Assets - 3 Yr. Avg. 14%
Return On Total Capital 12.1%
Ret/ On T. Cap. - 3 Yr. Avg. 15.2%
Return On Equity 12.1%
Return On Equity - 3 Yr. Avg. 15.2%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 56%
Gross Margin - 3 Yr. Avg. 58.4%
EBITDA Margin 27.2%
EBITDA Margin - 3 Yr. Avg. 30.8%
Operating Margin 20.8%
Oper. Margin - 3 Yr. Avg. 25.1%
Pre-Tax Margin 21.5%
Pre-Tax Margin - 3 Yr. Avg. 25.4%
Net Profit Margin 14.4%
Net Profit Margin - 3 Yr. Avg. 17.4%
Effective Tax Rate 32.8%
Eff/ Tax Rate - 3 Yr. Avg. 31.6%
Payout Ratio 0%

PRLB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PRLB stock intrinsic value calculation we used $298 million for the last fiscal year's total revenue generated by Proto Labs. The default revenue input number comes from 2016 income statement of Proto Labs. 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 PRLB stock valuation model: a) initial revenue growth rate of 9.3% 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 4.3%, whose default value for PRLB is calculated based on our internal credit rating of Proto Labs, 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 Proto Labs.
    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 PRLB stock the variable cost ratio is equal to 74.5%.

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 PRLB 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 3.5% for Proto Labs.

Corporate tax rate of 27% is the nominal tax rate for Proto Labs. 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 PRLB 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 PRLB are equal to 45.3%.

Life of production assets of 9.6 years is the average useful life of capital assets used in Proto Labs 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 PRLB is equal to 9.1%. 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 - $380 million for Proto Labs - 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 26.61 million for Proto Labs 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 Proto Labs at the current share price and the inputted number of shares is $2.3 billion.

RELATED COMPANIES Price Int.Val. Rating
DDD 3D Systems 8.34 0.98  str.sell
XONE ExOne 11.50 1.36  str.sell
ARCW ARC Group Worl 2.05 0.40  str.sell
VJET voxeljet ADR 4.89 0.73  str.sell
AIN Albany Interna 61.30 45.89  sell
MTLS Materialise AD 14.25 16.34  hold

COMPANY NEWS

▶ Proto Labs Manufactures Another Good Quarter; Stock Pops   [Oct-27-17 09:32AM  Motley Fool]
▶ Proto Labs, Inc. to Host Earnings Call   [Oct-26-17 06:40AM  ACCESSWIRE]
▶ Proto Labs tops Street 3Q forecasts   [06:35AM  Associated Press]
▶ ETFs with exposure to Proto Labs, Inc. : October 23, 2017   [Oct-23-17 10:59AM  Capital Cube]
▶ 3 Stocks That Look Just Like Starbucks in 1992   [Oct-12-17 06:13AM  Motley Fool]
▶ Is Stratasys Ltd. a Buy?   [Oct-04-17 07:40AM  Motley Fool]
▶ ETFs with exposure to Proto Labs, Inc. : October 2, 2017   [Oct-02-17 11:02AM  Capital Cube]
▶ Sisyphus Kinetic Art Tables Continue to Draw Demand   [Aug-29-17 10:00AM  Business Wire]
▶ Proto Labs beats 2Q profit forecasts   [Jul-27-17 03:44PM  Associated Press]
▶ ETFs with exposure to Proto Labs, Inc. : July 4, 2017   [Jul-04-17 03:23PM  Capital Cube]
▶ ETFs with exposure to Proto Labs, Inc. : June 22, 2017   [Jun-22-17 04:16PM  Capital Cube]
▶ 3D Systems Has Soared, But Don't Ignore This Other 3D Printing Stock   [May-19-17 12:10PM  Investor's Business Daily]
▶ Top Ranked Growth Stocks to Buy for May 17th   [May-17-17 10:28AM  Zacks]
▶ Why Proto Labs Stock Popped 13.5% in April   [May-09-17 10:51AM  Motley Fool]
▶ The Best 3D Printing Stock to Buy in 2017   [May-01-17 11:05AM  Motley Fool]
▶ One 3D Printing Stock You Might Be Overlooking   [Apr-29-17 10:00AM  Motley Fool]
▶ Proto Labs beats 1Q profit forecasts   [06:10AM  Associated Press]
▶ Better Buy: Stratasys vs. Proto Labs   [Apr-26-17 01:46PM  Motley Fool]
▶ [$$] U.S. Manufacturing Breathes Life Into Tool Startups   [Apr-04-17 07:43AM  The Wall Street Journal]
▶ 5 Small-Cap Stocks to Buy in April   [07:34AM  Motley Fool]
▶ Millennials More Upbeat on Manufacturings Future   [Mar-21-17 10:00AM  Business Wire]
▶ Proto Labs founder Larry Lukis announces retirement   [Mar-03-17 01:05PM  at bizjournals.com]
▶ Proto Labs founder Larry Lukis announces retirement   [01:05PM  American City Business Journals]
▶ The 1 3D Printing Stock I Want to Own in 2017   [Feb-11-17 11:13AM  at Motley Fool]
▶ 3 Top 3D Printing Stocks to Buy Now   [Jan-29-17 08:43AM  at Motley Fool]
Financial statements of PRLB
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.