Intrinsic value of Ralph Lauren Cl A - RL

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$66.11

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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$66.11

 
Intrinsic value

$37.84

 
Up/down potential

-43%

 
Rating

sell

 
Value-price divergence* premium content

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

We calculate the intrinsic value of RL 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 5.3

 

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, %
  -10.16
  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
  6,653
  6,786
  6,942
  7,121
  7,321
  7,543
  7,786
  8,051
  8,339
  8,648
  8,980
  9,335
  9,714
  10,117
  10,546
  11,001
  11,483
  11,993
  12,533
  13,103
  13,705
  14,340
  15,010
  15,716
  16,460
  17,244
  18,069
  18,937
  19,851
  20,812
  21,824
Variable operating expenses, $m
 
  1,247
  1,273
  1,304
  1,338
  1,376
  1,417
  1,462
  1,511
  1,564
  1,621
  1,591
  1,655
  1,724
  1,797
  1,874
  1,957
  2,044
  2,136
  2,233
  2,335
  2,444
  2,558
  2,678
  2,805
  2,938
  3,079
  3,227
  3,383
  3,546
  3,719
Fixed operating expenses, $m
 
  5,734
  5,877
  6,024
  6,175
  6,329
  6,487
  6,650
  6,816
  6,986
  7,161
  7,340
  7,523
  7,711
  7,904
  8,102
  8,304
  8,512
  8,725
  8,943
  9,166
  9,396
  9,630
  9,871
  10,118
  10,371
  10,630
  10,896
  11,168
  11,448
  11,734
Total operating expenses, $m
  6,748
  6,981
  7,150
  7,328
  7,513
  7,705
  7,904
  8,112
  8,327
  8,550
  8,782
  8,931
  9,178
  9,435
  9,701
  9,976
  10,261
  10,556
  10,861
  11,176
  11,501
  11,840
  12,188
  12,549
  12,923
  13,309
  13,709
  14,123
  14,551
  14,994
  15,453
Operating income, $m
  -95
  -195
  -208
  -207
  -192
  -162
  -118
  -60
  11
  98
  198
  404
  535
  682
  845
  1,024
  1,222
  1,437
  1,672
  1,927
  2,203
  2,501
  2,822
  3,167
  3,537
  3,935
  4,360
  4,814
  5,300
  5,818
  6,371
EBITDA, $m
  213
  100
  91
  98
  119
  156
  207
  273
  353
  449
  559
  685
  828
  986
  1,162
  1,356
  1,568
  1,799
  2,050
  2,322
  2,616
  2,933
  3,274
  3,640
  4,033
  4,454
  4,904
  5,385
  5,898
  6,445
  7,029
Interest expense (income), $m
  13
  29
  31
  33
  35
  38
  40
  43
  47
  50
  54
  58
  62
  67
  72
  77
  83
  89
  95
  101
  108
  116
  124
  132
  140
  150
  159
  169
  180
  191
  203
Earnings before tax, $m
  -105
  -224
  -239
  -240
  -227
  -200
  -159
  -104
  -35
  48
  144
  346
  473
  615
  773
  947
  1,139
  1,349
  1,578
  1,826
  2,095
  2,385
  2,698
  3,035
  3,397
  3,785
  4,201
  4,645
  5,120
  5,627
  6,168
Tax expense, $m
  -6
  0
  0
  0
  0
  0
  0
  0
  0
  13
  39
  94
  128
  166
  209
  256
  308
  364
  426
  493
  566
  644
  729
  819
  917
  1,022
  1,134
  1,254
  1,382
  1,519
  1,665
Net income, $m
  -99
  -224
  -239
  -240
  -227
  -200
  -159
  -104
  -35
  35
  105
  253
  345
  449
  564
  691
  832
  985
  1,152
  1,333
  1,529
  1,741
  1,970
  2,216
  2,480
  2,763
  3,066
  3,391
  3,738
  4,108
  4,503

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,353
  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
  5,652
  4,384
  4,485
  4,600
  4,729
  4,873
  5,030
  5,201
  5,387
  5,586
  5,801
  6,030
  6,275
  6,535
  6,812
  7,106
  7,418
  7,747
  8,096
  8,464
  8,853
  9,264
  9,696
  10,153
  10,633
  11,139
  11,672
  12,233
  12,824
  13,445
  14,098
Adjusted assets (=assets-cash), $m
  4,299
  4,384
  4,485
  4,600
  4,729
  4,873
  5,030
  5,201
  5,387
  5,586
  5,801
  6,030
  6,275
  6,535
  6,812
  7,106
  7,418
  7,747
  8,096
  8,464
  8,853
  9,264
  9,696
  10,153
  10,633
  11,139
  11,672
  12,233
  12,824
  13,445
  14,098
Revenue / Adjusted assets
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
  1.548
Average production assets, $m
  1,682
  1,717
  1,756
  1,801
  1,852
  1,908
  1,970
  2,037
  2,110
  2,188
  2,272
  2,362
  2,458
  2,560
  2,668
  2,783
  2,905
  3,034
  3,171
  3,315
  3,467
  3,628
  3,798
  3,976
  4,164
  4,363
  4,571
  4,791
  5,022
  5,266
  5,521
Working capital, $m
  1,795
  475
  486
  498
  512
  528
  545
  564
  584
  605
  629
  653
  680
  708
  738
  770
  804
  840
  877
  917
  959
  1,004
  1,051
  1,100
  1,152
  1,207
  1,265
  1,326
  1,390
  1,457
  1,528
Total debt, $m
  862
  886
  941
  1,003
  1,073
  1,151
  1,236
  1,329
  1,430
  1,538
  1,654
  1,778
  1,911
  2,052
  2,202
  2,362
  2,530
  2,709
  2,898
  3,098
  3,308
  3,531
  3,765
  4,013
  4,273
  4,548
  4,836
  5,140
  5,460
  5,797
  6,151
Total liabilities, $m
  2,352
  2,376
  2,431
  2,493
  2,563
  2,641
  2,726
  2,819
  2,920
  3,028
  3,144
  3,268
  3,401
  3,542
  3,692
  3,852
  4,020
  4,199
  4,388
  4,588
  4,798
  5,021
  5,255
  5,503
  5,763
  6,038
  6,326
  6,630
  6,950
  7,287
  7,641
Total equity, $m
  3,300
  2,008
  2,054
  2,107
  2,166
  2,232
  2,304
  2,382
  2,467
  2,559
  2,657
  2,762
  2,874
  2,993
  3,120
  3,255
  3,397
  3,548
  3,708
  3,877
  4,055
  4,243
  4,441
  4,650
  4,870
  5,102
  5,346
  5,603
  5,873
  6,158
  6,457
Total liabilities and equity, $m
  5,652
  4,384
  4,485
  4,600
  4,729
  4,873
  5,030
  5,201
  5,387
  5,587
  5,801
  6,030
  6,275
  6,535
  6,812
  7,107
  7,417
  7,747
  8,096
  8,465
  8,853
  9,264
  9,696
  10,153
  10,633
  11,140
  11,672
  12,233
  12,823
  13,445
  14,098
Debt-to-equity ratio
  0.261
  0.440
  0.460
  0.480
  0.500
  0.520
  0.540
  0.560
  0.580
  0.600
  0.620
  0.640
  0.660
  0.690
  0.710
  0.730
  0.740
  0.760
  0.780
  0.800
  0.820
  0.830
  0.850
  0.860
  0.880
  0.890
  0.900
  0.920
  0.930
  0.940
  0.950
Adjusted equity ratio
  0.453
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458
  0.458

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -99
  -224
  -239
  -240
  -227
  -200
  -159
  -104
  -35
  35
  105
  253
  345
  449
  564
  691
  832
  985
  1,152
  1,333
  1,529
  1,741
  1,970
  2,216
  2,480
  2,763
  3,066
  3,391
  3,738
  4,108
  4,503
Depreciation, amort., depletion, $m
  308
  295
  300
  305
  311
  318
  325
  333
  342
  351
  361
  281
  293
  305
  318
  331
  346
  361
  377
  395
  413
  432
  452
  473
  496
  519
  544
  570
  598
  627
  657
Funds from operations, $m
  1,186
  71
  60
  65
  84
  118
  166
  229
  307
  386
  466
  534
  638
  753
  882
  1,023
  1,177
  1,346
  1,529
  1,727
  1,942
  2,173
  2,422
  2,689
  2,976
  3,282
  3,611
  3,961
  4,336
  4,735
  5,160
Change in working capital, $m
  234
  9
  11
  12
  14
  16
  17
  19
  20
  22
  23
  25
  27
  28
  30
  32
  34
  36
  38
  40
  42
  44
  47
  49
  52
  55
  58
  61
  64
  67
  71
Cash from operations, $m
  952
  -84
  49
  52
  70
  103
  149
  211
  286
  364
  443
  509
  611
  725
  852
  991
  1,144
  1,310
  1,491
  1,688
  1,900
  2,129
  2,375
  2,640
  2,923
  3,228
  3,553
  3,901
  4,272
  4,668
  5,089
Maintenance CAPEX, $m
  0
  -200
  -204
  -209
  -214
  -220
  -227
  -235
  -243
  -251
  -260
  -270
  -281
  -293
  -305
  -318
  -331
  -346
  -361
  -377
  -395
  -413
  -432
  -452
  -473
  -496
  -519
  -544
  -570
  -598
  -627
New CAPEX, $m
  -284
  -35
  -39
  -45
  -51
  -56
  -62
  -67
  -73
  -78
  -84
  -90
  -96
  -102
  -108
  -115
  -122
  -129
  -137
  -144
  -152
  -161
  -169
  -179
  -188
  -198
  -209
  -220
  -231
  -243
  -256
Cash from investing activities, $m
  -208
  -235
  -243
  -254
  -265
  -276
  -289
  -302
  -316
  -329
  -344
  -360
  -377
  -395
  -413
  -433
  -453
  -475
  -498
  -521
  -547
  -574
  -601
  -631
  -661
  -694
  -728
  -764
  -801
  -841
  -883
Free cash flow, $m
  744
  -319
  -195
  -202
  -195
  -174
  -139
  -91
  -29
  35
  99
  149
  234
  331
  439
  558
  690
  835
  994
  1,166
  1,353
  1,555
  1,774
  2,009
  2,262
  2,534
  2,825
  3,137
  3,470
  3,826
  4,207
Issuance/(repayment) of debt, $m
  -143
  47
  55
  62
  70
  78
  85
  93
  101
  108
  116
  124
  133
  141
  150
  159
  169
  179
  189
  200
  211
  222
  235
  247
  261
  274
  289
  304
  320
  337
  354
Issuance/(repurchase) of shares, $m
  -210
  0
  186
  192
  184
  162
  126
  77
  13
  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  
  -353
  47
  241
  254
  254
  240
  211
  170
  114
  108
  116
  124
  133
  141
  150
  159
  169
  179
  189
  200
  211
  222
  235
  247
  261
  274
  289
  304
  320
  337
  354
Total cash flow (excl. dividends), $m
  377
  -272
  -140
  -140
  -125
  -96
  -54
  2
  72
  143
  215
  273
  367
  472
  589
  718
  859
  1,014
  1,182
  1,365
  1,564
  1,778
  2,008
  2,256
  2,522
  2,808
  3,114
  3,441
  3,790
  4,163
  4,561
Retained Cash Flow (-), $m
  444
  -38
  -46
  -53
  -59
  -66
  -72
  -78
  -85
  -91
  -98
  -105
  -112
  -119
  -127
  -135
  -143
  -151
  -160
  -169
  -178
  -188
  -198
  -209
  -220
  -232
  -244
  -257
  -270
  -284
  -299
Prev. year cash balance distribution, $m
 
  1,330
  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
 
  1,020
  0
  0
  0
  0
  0
  0
  0
  51
  117
  168
  255
  353
  462
  583
  716
  863
  1,023
  1,197
  1,385
  1,590
  1,810
  2,047
  2,302
  2,576
  2,870
  3,184
  3,520
  3,879
  4,262
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
 
  978
  0
  0
  0
  0
  0
  0
  0
  30
  61
  80
  109
  134
  155
  171
  182
  188
  188
  184
  176
  164
  150
  134
  117
  100
  84
  68
  54
  42
  32
Current shareholders' claim on cash, %
  100
  100.0
  94.5
  89.3
  84.7
  80.9
  78.1
  76.5
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3
  76.3

Ralph Lauren Corporation designs, markets, and distributes lifestyle products worldwide. The company operates in three segments: Wholesale, Retail, and Licensing. It offers apparel, including a range of men’s, women’s, and children’s clothing; accessories, which comprise footwear, eyewear, watches, fine jewelry, hats, belts, and leather goods, such as handbags and luggage; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, paints, tabletops, and giftware; and fragrances. The company sells apparel and accessories under the Ralph Lauren Collection, Purple Label, Black Label, Polo Ralph Lauren, Polo Sport, Double RL, RLX Ralph Lauren, Lauren Ralph Lauren, Ralph by Ralph Lauren, Polo and RLX Golf, Ralph Lauren Children, Denim & Supply Ralph Lauren, Chaps, Club Monaco, American Living, and other brand names; women's fragrances under the Safari, Ralph Lauren Blue, Lauren, Romance, RALPH collection, and Big Pony collection brand names; and men's fragrances under the Safari, Polo Sport, Polo Green, Polo Blue, Polo Blue Sport, Purple Label, Polo Black, Double Black, Big Pony collection, Polo Red collection, and Polo Supreme Oud brand names. Ralph Lauren Corporation sells its products to department stores, specialty stores, and golf and pro shops, as well as through its retail stores, concession-based shop-within-shops, and its e-commerce sites. The company also sells its apparel, home, and other products through licensing alliances. As of April 2, 2016, it operated 493 directly-operated freestanding stores and 583 concession-based shop-within-shops. Ralph Lauren Corporation was founded in 1967 and is based in New York, New York.

FINANCIAL RATIOS  of  Ralph Lauren Cl A (RL)

Valuation Ratios
P/E Ratio -54.1
Price to Sales 0.8
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 8
Growth Rates
Sales Growth Rate -10.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -32.1%
Cap. Spend. - 3 Yr. Gr. Rate -6.1%
Financial Strength
Quick Ratio 59
Current Ratio 0
LT Debt to Equity 25.4%
Total Debt to Equity 26.1%
Interest Coverage -7
Management Effectiveness
Return On Assets -1.5%
Ret/ On Assets - 3 Yr. Avg. 5.6%
Return On Total Capital -2.2%
Ret/ On T. Cap. - 3 Yr. Avg. 7.1%
Return On Equity -2.8%
Return On Equity - 3 Yr. Avg. 8.4%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 54.9%
Gross Margin - 3 Yr. Avg. 56.3%
EBITDA Margin 3.2%
EBITDA Margin - 3 Yr. Avg. 10.7%
Operating Margin -1.4%
Oper. Margin - 3 Yr. Avg. 6.7%
Pre-Tax Margin -1.6%
Pre-Tax Margin - 3 Yr. Avg. 6.3%
Net Profit Margin -1.5%
Net Profit Margin - 3 Yr. Avg. 4.4%
Effective Tax Rate 5.7%
Eff/ Tax Rate - 3 Yr. Avg. 21%
Payout Ratio -166.7%

RL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RL stock intrinsic value calculation we used $6653 million for the last fiscal year's total revenue generated by Ralph Lauren Cl A. The default revenue input number comes from 2017 income statement of Ralph Lauren Cl A. 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 RL 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 4.3%, whose default value for RL is calculated based on our internal credit rating of Ralph Lauren Cl A, 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 Ralph Lauren Cl A.
    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 RL stock the variable cost ratio is equal to 18.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $5594 million in the base year in the intrinsic value calculation for RL 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 Ralph Lauren Cl A.

Corporate tax rate of 27% is the nominal tax rate for Ralph Lauren Cl A. 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 RL 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 RL are equal to 25.3%.

Life of production assets of 8.4 years is the average useful life of capital assets used in Ralph Lauren Cl A 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 RL is equal to 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 - $3300 million for Ralph Lauren Cl A - 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 79.826 million for Ralph Lauren Cl A 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 Ralph Lauren Cl A at the current share price and the inputted number of shares is $5.3 billion.


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COMPANY NEWS

▶ ETFs with exposure to Ralph Lauren Corp. : May 25, 2017   [May-25-17 12:47PM  Capital Cube]
▶ Top Losers in the Consumer Sector: Week of May 1519, 2017   [May-22-17 04:07PM  Market Realist]
▶ P&G president named CEO of Ralph Lauren   [03:22PM  American City Business Journals]
▶ Ralph Lauren: Rough Times Ahead?   [May-19-17 11:31AM  Barrons.com]
▶ Ralph Lauren posts quarterly loss a day after naming new CEO   [May-18-17 05:01PM  Associated Press]
▶ Retail And E-Commerce News And Stocks To Watch   [03:14PM  Investor's Business Daily]
▶ Story Stocks from Briefing.com   [12:18PM  Briefing.com]
▶ Ralph Lauren names Procter & Gamble executive as CEO   [May-17-17 07:52PM  Associated Press]
▶ Ralph Lauren Names P&G Exec as New CEO   [03:52PM  Investopedia]
▶ Ralph Lauren Finds New CEOWhere? P&G   [02:34PM  Barrons.com]
▶ Ralph Lauren names new CEO amid tumultuous time   [01:40PM  American City Business Journals]
▶ Best Luxury Gifts For Mom   [May-05-17 04:13PM  TheStreet.com]
▶ American Eagle Outfitters: Bears Need a Reality Check   [May-04-17 07:49PM  Motley Fool]
▶ VF Corporation Misses Top-Line Expectations Again in 1Q17   [May-02-17 04:35PM  Market Realist]
▶ Can Ralph Lauren Make a Comeback?   [May-01-17 03:15PM  Investopedia]
▶ Ralph Lauren confirms it will lay off 100+ workers at Triad facilities   [Apr-21-17 03:37PM  American City Business Journals]
▶ Stocks That Fell to 3-Year Lows in the Week of April 14   [Apr-16-17 05:02PM  GuruFocus.com]
▶ Longleaf Partners Comments on Ralph Lauren   [Apr-14-17 06:11PM  GuruFocus.com]
▶ Longleaf Partners 1st Quarter Commentary   [05:50PM  GuruFocus.com]
▶ Ralph Lauren, Local Lincoln Dealer Support OReilly Online   [Apr-09-17 06:45AM  24/7 Wall St.]
▶ Food & retail stocks in today's trader blitz   [Apr-06-17 01:37PM  CNBC Videos]
▶ Ralph Lauren Drops 4.5% after Announcing Restructuring Moves   [Apr-05-17 06:05PM  Market Realist]
▶ 15 Most Expensive Perfume Brands in The World   [11:39AM  Insider Monkey]
▶ Ralph Lauren to shut down Fifth Avenue Polo store   [Apr-04-17 06:01PM  Associated Press]
▶ Top 10 Apparel Brands in the World   [Mar-21-17 03:05PM  at Insider Monkey]
▶ Ralph Lauren Corporation Declares Quarterly Dividend   [Mar-10-17 04:05PM  Business Wire]
▶ 2 Awful Retail Stocks for Retirees   [Feb-22-17 09:48AM  at Motley Fool]
Stock chart of RL Financial statements of RL Annual reports of RL
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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