Intrinsic value of Retail Opportunity Investment - ROIC

Previous Close

$20.40

  Intrinsic Value

$2.75

stock screener

  Rating & Target

str. sell

-87%

  Value-price divergence*

+29%

Previous close

$20.40

 
Intrinsic value

$2.75

 
Up/down potential

-87%

 
Rating

str. sell

 
Value-price divergence*

+29%

Our model is not good at valuating stocks of financial companies, such as ROIC.

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

We calculate the intrinsic value of ROIC 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 2.2

 

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, %
  22.80
  17.90
  16.61
  15.45
  14.40
  13.46
  12.62
  11.86
  11.17
  10.55
  10.00
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
  5.75
  5.68
  5.61
Revenue, $m
  237
  279
  326
  376
  430
  488
  550
  615
  684
  756
  832
  911
  993
  1,079
  1,168
  1,261
  1,357
  1,458
  1,562
  1,670
  1,783
  1,900
  2,022
  2,149
  2,281
  2,418
  2,562
  2,711
  2,867
  3,030
  3,199
Variable operating expenses, $m
 
  171
  199
  230
  263
  299
  337
  376
  418
  463
  509
  557
  608
  660
  715
  772
  831
  892
  956
  1,022
  1,091
  1,163
  1,237
  1,315
  1,396
  1,480
  1,568
  1,659
  1,755
  1,854
  1,958
Fixed operating expenses, $m
 
  15
  16
  16
  17
  17
  17
  18
  18
  19
  19
  20
  20
  21
  21
  22
  22
  23
  23
  24
  25
  25
  26
  26
  27
  28
  29
  29
  30
  31
  31
Total operating expenses, $m
  160
  186
  215
  246
  280
  316
  354
  394
  436
  482
  528
  577
  628
  681
  736
  794
  853
  915
  979
  1,046
  1,116
  1,188
  1,263
  1,341
  1,423
  1,508
  1,597
  1,688
  1,785
  1,885
  1,989
Operating income, $m
  77
  93
  111
  130
  150
  172
  196
  221
  247
  275
  303
  334
  365
  398
  432
  468
  504
  543
  583
  624
  667
  712
  759
  807
  858
  910
  965
  1,023
  1,082
  1,145
  1,210
EBITDA, $m
  165
  197
  232
  269
  310
  354
  400
  449
  501
  555
  612
  672
  734
  798
  866
  936
  1,008
  1,084
  1,162
  1,244
  1,329
  1,417
  1,509
  1,605
  1,704
  1,808
  1,916
  2,029
  2,146
  2,269
  2,397
Interest expense (income), $m
  34
  40
  50
  60
  71
  83
  96
  109
  124
  139
  154
  171
  188
  206
  225
  245
  265
  286
  308
  331
  355
  379
  405
  432
  460
  488
  519
  550
  583
  617
  652
Earnings before tax, $m
  36
  53
  61
  70
  79
  89
  100
  112
  123
  136
  149
  163
  177
  192
  207
  223
  239
  257
  275
  293
  313
  333
  354
  376
  398
  422
  447
  473
  500
  528
  557
Tax expense, $m
  0
  14
  16
  19
  21
  24
  27
  30
  33
  37
  40
  44
  48
  52
  56
  60
  65
  69
  74
  79
  84
  90
  95
  101
  108
  114
  121
  128
  135
  143
  151
Net income, $m
  33
  38
  44
  51
  58
  65
  73
  81
  90
  99
  109
  119
  129
  140
  151
  163
  175
  187
  200
  214
  228
  243
  258
  274
  291
  308
  326
  345
  365
  385
  407

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  13
  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
  2,663
  3,140
  3,661
  4,227
  4,835
  5,487
  6,179
  6,911
  7,683
  8,494
  9,343
  10,231
  11,156
  12,121
  13,124
  14,168
  15,252
  16,380
  17,551
  18,768
  20,034
  21,350
  22,719
  24,143
  25,626
  27,171
  28,781
  30,460
  32,212
  34,040
  35,949
Adjusted assets (=assets-cash), $m
  2,650
  3,140
  3,661
  4,227
  4,835
  5,487
  6,179
  6,911
  7,683
  8,494
  9,343
  10,231
  11,156
  12,121
  13,124
  14,168
  15,252
  16,380
  17,551
  18,768
  20,034
  21,350
  22,719
  24,143
  25,626
  27,171
  28,781
  30,460
  32,212
  34,040
  35,949
Revenue / Adjusted assets
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
  0.089
Average production assets, $m
  2,402
  2,831
  3,302
  3,812
  4,361
  4,948
  5,572
  6,233
  6,929
  7,660
  8,426
  9,226
  10,061
  10,931
  11,836
  12,777
  13,755
  14,772
  15,828
  16,926
  18,067
  19,254
  20,488
  21,773
  23,111
  24,504
  25,956
  27,470
  29,050
  30,699
  32,420
Working capital, $m
  0
  -15
  -18
  -21
  -24
  -27
  -30
  -34
  -38
  -42
  -46
  -50
  -55
  -59
  -64
  -69
  -75
  -80
  -86
  -92
  -98
  -105
  -111
  -118
  -125
  -133
  -141
  -149
  -158
  -167
  -176
Total debt, $m
  1,156
  1,430
  1,720
  2,035
  2,374
  2,737
  3,123
  3,531
  3,961
  4,412
  4,885
  5,380
  5,895
  6,432
  6,991
  7,572
  8,177
  8,804
  9,457
  10,135
  10,840
  11,573
  12,335
  13,129
  13,955
  14,815
  15,712
  16,647
  17,623
  18,641
  19,705
Total liabilities, $m
  1,475
  1,749
  2,039
  2,354
  2,693
  3,056
  3,442
  3,850
  4,280
  4,731
  5,204
  5,699
  6,214
  6,751
  7,310
  7,891
  8,496
  9,123
  9,776
  10,454
  11,159
  11,892
  12,654
  13,448
  14,274
  15,134
  16,031
  16,966
  17,942
  18,960
  20,024
Total equity, $m
  1,188
  1,391
  1,622
  1,872
  2,142
  2,431
  2,737
  3,062
  3,404
  3,763
  4,139
  4,532
  4,942
  5,369
  5,814
  6,276
  6,757
  7,256
  7,775
  8,314
  8,875
  9,458
  10,064
  10,695
  11,352
  12,037
  12,750
  13,494
  14,270
  15,080
  15,925
Total liabilities and equity, $m
  2,663
  3,140
  3,661
  4,226
  4,835
  5,487
  6,179
  6,912
  7,684
  8,494
  9,343
  10,231
  11,156
  12,120
  13,124
  14,167
  15,253
  16,379
  17,551
  18,768
  20,034
  21,350
  22,718
  24,143
  25,626
  27,171
  28,781
  30,460
  32,212
  34,040
  35,949
Debt-to-equity ratio
  0.973
  1.030
  1.060
  1.090
  1.110
  1.130
  1.140
  1.150
  1.160
  1.170
  1.180
  1.190
  1.190
  1.200
  1.200
  1.210
  1.210
  1.210
  1.220
  1.220
  1.220
  1.220
  1.230
  1.230
  1.230
  1.230
  1.230
  1.230
  1.230
  1.240
  1.240
Adjusted equity ratio
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  33
  38
  44
  51
  58
  65
  73
  81
  90
  99
  109
  119
  129
  140
  151
  163
  175
  187
  200
  214
  228
  243
  258
  274
  291
  308
  326
  345
  365
  385
  407
Depreciation, amort., depletion, $m
  88
  104
  121
  140
  160
  181
  204
  228
  254
  281
  309
  338
  369
  400
  434
  468
  504
  541
  580
  620
  662
  705
  750
  798
  847
  898
  951
  1,006
  1,064
  1,124
  1,188
Funds from operations, $m
  112
  142
  165
  190
  218
  246
  277
  310
  344
  380
  417
  457
  498
  540
  585
  631
  679
  728
  780
  834
  890
  948
  1,009
  1,072
  1,137
  1,206
  1,277
  1,351
  1,429
  1,510
  1,595
Change in working capital, $m
  -3
  -2
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
Cash from operations, $m
  115
  144
  168
  193
  221
  250
  281
  313
  348
  384
  422
  461
  502
  545
  589
  636
  684
  734
  786
  840
  896
  955
  1,015
  1,079
  1,145
  1,213
  1,285
  1,360
  1,437
  1,519
  1,604
Maintenance CAPEX, $m
  0
  -88
  -104
  -121
  -140
  -160
  -181
  -204
  -228
  -254
  -281
  -309
  -338
  -369
  -400
  -434
  -468
  -504
  -541
  -580
  -620
  -662
  -705
  -750
  -798
  -847
  -898
  -951
  -1,006
  -1,064
  -1,124
New CAPEX, $m
  -326
  -430
  -470
  -510
  -549
  -587
  -624
  -661
  -696
  -731
  -766
  -800
  -835
  -870
  -905
  -941
  -978
  -1,017
  -1,056
  -1,098
  -1,141
  -1,187
  -1,234
  -1,285
  -1,338
  -1,393
  -1,452
  -1,514
  -1,580
  -1,649
  -1,721
Cash from investing activities, $m
  -325
  -518
  -574
  -631
  -689
  -747
  -805
  -865
  -924
  -985
  -1,047
  -1,109
  -1,173
  -1,239
  -1,305
  -1,375
  -1,446
  -1,521
  -1,597
  -1,678
  -1,761
  -1,849
  -1,939
  -2,035
  -2,136
  -2,240
  -2,350
  -2,465
  -2,586
  -2,713
  -2,845
Free cash flow, $m
  -210
  -373
  -406
  -438
  -468
  -497
  -525
  -551
  -577
  -601
  -625
  -648
  -671
  -693
  -716
  -739
  -762
  -786
  -812
  -838
  -865
  -894
  -924
  -957
  -991
  -1,027
  -1,065
  -1,105
  -1,148
  -1,194
  -1,242
Issuance/(repayment) of debt, $m
  161
  274
  290
  315
  339
  363
  386
  408
  430
  452
  473
  494
  516
  537
  559
  581
  604
  628
  652
  678
  705
  733
  762
  793
  826
  861
  897
  935
  976
  1,018
  1,063
Issuance/(repurchase) of shares, $m
  184
  177
  187
  200
  212
  223
  234
  243
  252
  260
  267
  274
  281
  287
  294
  300
  306
  312
  319
  325
  332
  340
  348
  357
  366
  376
  387
  399
  411
  424
  439
Cash from financing (excl. dividends), $m  
  299
  451
  477
  515
  551
  586
  620
  651
  682
  712
  740
  768
  797
  824
  853
  881
  910
  940
  971
  1,003
  1,037
  1,073
  1,110
  1,150
  1,192
  1,237
  1,284
  1,334
  1,387
  1,442
  1,502
Total cash flow (excl. dividends), $m
  88
  78
  71
  77
  83
  89
  94
  100
  105
  110
  116
  121
  126
  131
  137
  142
  148
  153
  159
  166
  172
  179
  186
  194
  202
  210
  219
  228
  238
  249
  260
Retained Cash Flow (-), $m
  -151
  -216
  -231
  -251
  -270
  -288
  -307
  -325
  -342
  -359
  -376
  -393
  -410
  -427
  -445
  -462
  -481
  -499
  -519
  -539
  -561
  -583
  -606
  -631
  -657
  -684
  -713
  -744
  -776
  -810
  -846
Prev. year cash balance distribution, $m
 
  13
  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
 
  -125
  -160
  -174
  -187
  -200
  -212
  -225
  -237
  -249
  -261
  -272
  -284
  -296
  -308
  -320
  -333
  -346
  -360
  -374
  -388
  -404
  -420
  -437
  -455
  -474
  -494
  -515
  -538
  -561
  -586
Discount rate, %
 
  8.70
  9.14
  9.59
  10.07
  10.57
  11.10
  11.66
  12.24
  12.85
  13.50
  14.17
  14.88
  15.62
  16.41
  17.23
  18.09
  18.99
  19.94
  20.94
  21.98
  23.08
  24.24
  25.45
  26.72
  28.06
  29.46
  30.93
  32.48
  34.11
  35.81
PV of cash for distribution, $m
 
  -115
  -134
  -132
  -127
  -121
  -113
  -104
  -94
  -84
  -73
  -63
  -54
  -45
  -37
  -30
  -23
  -18
  -14
  -10
  -7
  -5
  -4
  -2
  -2
  -1
  -1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  92.5
  86.2
  80.9
  76.2
  72.2
  68.6
  65.5
  62.7
  60.2
  58.0
  56.0
  54.2
  52.5
  51.0
  49.6
  48.4
  47.2
  46.1
  45.1
  44.1
  43.2
  42.4
  41.6
  40.8
  40.1
  39.4
  38.8
  38.2
  37.6
  37.0

Retail Opportunity Investments Corp., a real estate investment trust (REIT), engages in the acquisition, ownership, and management of necessity-based community and neighborhood shopping centers in the eastern and western regions of the United States. As of December 31, 2011, its portfolio consisted of 30 owned retail properties totaling approximately 3.2 million square feet of gross leasable area. The company has elected to be taxed as a REIT, for U.S. federal income tax purposes. The company is based in San Diego, California with additional offices in New York City; Rancho Cordova, California; West Linn, Oregon; and Federal Way, Washington.

FINANCIAL RATIOS  of  Retail Opportunity Investment (ROIC)

Valuation Ratios
P/E Ratio 67.6
Price to Sales 9.4
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 19.4
Price to Free Cash Flow -10.6
Growth Rates
Sales Growth Rate 22.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.4%
Cap. Spend. - 3 Yr. Gr. Rate -1.5%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 97.3%
Total Debt to Equity 97.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.7%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital 1.5%
Ret/ On T. Cap. - 3 Yr. Avg. 1.4%
Return On Equity 3%
Return On Equity - 3 Yr. Avg. 2.6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 86.5%
Gross Margin - 3 Yr. Avg. 85.1%
EBITDA Margin 66.7%
EBITDA Margin - 3 Yr. Avg. 66.8%
Operating Margin 32.5%
Oper. Margin - 3 Yr. Avg. 31.7%
Pre-Tax Margin 15.2%
Pre-Tax Margin - 3 Yr. Avg. 13.9%
Net Profit Margin 13.9%
Net Profit Margin - 3 Yr. Avg. 13.1%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 254.5%

ROIC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ROIC stock intrinsic value calculation we used $237 million for the last fiscal year's total revenue generated by Retail Opportunity Investment. The default revenue input number comes from 2016 income statement of Retail Opportunity Investment. 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 ROIC stock valuation model: a) initial revenue growth rate of 17.9% 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 8.7%, whose default value for ROIC is calculated based on our internal credit rating of Retail Opportunity Investment, 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 Retail Opportunity Investment.
    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 ROIC stock the variable cost ratio is equal to 61.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $15 million in the base year in the intrinsic value calculation for ROIC 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 Retail Opportunity Investment.

Corporate tax rate of 27% is the nominal tax rate for Retail Opportunity Investment. 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 ROIC 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 ROIC are equal to 1013.3%.

Life of production assets of 27.3 years is the average useful life of capital assets used in Retail Opportunity Investment 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 ROIC is equal to -5.5%. 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 - $1188 million for Retail Opportunity Investment - 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 107.996 million for Retail Opportunity Investment 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 Retail Opportunity Investment at the current share price and the inputted number of shares is $2.2 billion.

RELATED COMPANIES Price Int.Val. Rating
BLK BlackRock 431.35 1,367.78  str.buy
TJX TJX 68.70 74.85  hold
RAD Rite Aid 2.44 3.50  str.buy
CVS CVS Health 78.91 157.68  str.buy
ROST Ross Stores 54.03 67.51  buy
IVZ INVESCO 36.53 45.12  buy
SFM Sprouts Farmer 24.56 29.15  buy
KR Kroger 23.68 29.60  buy

COMPANY NEWS

▶ 3 Growth Dividend Stocks to Buy Now   [Jul-18-17 07:35PM  Motley Fool]
▶ Whole Foods centers to get a boost from Amazon deal   [Jul-06-17 06:44AM  CNBC Videos]
▶ The 1 Stock You've Been Overlooking for Your Roth IRA   [Jun-02-17 12:12PM  Motley Fool]
▶ If You're in Your 60s, Consider Buying These 3 Stocks   [May-25-17 02:44PM  Motley Fool]
▶ Retail Opportunity Investments reports 1Q results   [Apr-26-17 05:02PM  Associated Press]
▶ 3 Top High-Yield Dividend Stocks to Buy Now   [Apr-20-17 09:55AM  Motley Fool]
▶ 3 Stocks We Can't Wait to Buy on Sale   [Feb-28-17 09:33AM  Motley Fool]
▶ 3 Stocks We Can't Wait to Buy on Sale   [09:33AM  at Motley Fool]
▶ Retail Opportunity Investments reports 4Q results   [Feb-22-17 07:26PM  Associated Press]
▶ Why These REITs Can Thrive Under Trump   [Jan-24-17 06:00AM  at Investopedia]
▶ Amazon Go: The Power Of Clicks And Bricks   [Dec-12-16 07:00AM  at Forbes]
▶ Retail Opportunity Investments Keeps Growing Its Portfolio   [Oct-27-16 07:15AM  at Motley Fool]
▶ Trend Channel Stocks Near the Buy Point (WCN, MWA)   [Sep-05-16 01:00PM  at Investopedia]
▶ 3 Stocks That Could Soar More Than Barrick Gold   [Jul-16-16 11:30AM  at Motley Fool]
▶ 2 High-Yield Stocks I Wouldn't Buy Today   [Jul-01-16 08:41AM  at Motley Fool]
Stock chart of ROIC Financial statements of ROIC Annual reports of ROIC
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.