Intrinsic value of RPM International - RPM

Previous Close

$48.44

  Intrinsic Value

$41.14

stock screener

  Rating & Target

hold

-15%

  Value-price divergence*

+26%

Previous close

$48.44

 
Intrinsic value

$41.14

 
Up/down potential

-15%

 
Rating

hold

 
Value-price divergence*

+26%

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

We calculate the intrinsic value of RPM 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 6.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.77
  3.40
  3.56
  3.70
  3.83
  3.95
  4.06
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.82
  4.84
  4.86
  4.87
  4.89
  4.90
  4.91
  4.92
  4.92
Revenue, $m
  4,814
  4,978
  5,155
  5,346
  5,551
  5,770
  6,004
  6,253
  6,518
  6,799
  7,097
  7,412
  7,745
  8,098
  8,470
  8,862
  9,276
  9,712
  10,172
  10,656
  11,166
  11,703
  12,267
  12,861
  13,486
  14,143
  14,834
  15,560
  16,324
  17,126
  17,970
Variable operating expenses, $m
 
  4,202
  4,347
  4,504
  4,672
  4,851
  5,043
  5,247
  5,464
  5,695
  5,939
  6,075
  6,349
  6,637
  6,942
  7,264
  7,603
  7,961
  8,338
  8,734
  9,152
  9,592
  10,055
  10,542
  11,054
  11,593
  12,159
  12,754
  13,380
  14,038
  14,729
Fixed operating expenses, $m
 
  204
  209
  214
  220
  225
  231
  237
  242
  249
  255
  261
  268
  274
  281
  288
  295
  303
  310
  318
  326
  334
  343
  351
  360
  369
  378
  388
  397
  407
  417
Total operating expenses, $m
  4,261
  4,406
  4,556
  4,718
  4,892
  5,076
  5,274
  5,484
  5,706
  5,944
  6,194
  6,336
  6,617
  6,911
  7,223
  7,552
  7,898
  8,264
  8,648
  9,052
  9,478
  9,926
  10,398
  10,893
  11,414
  11,962
  12,537
  13,142
  13,777
  14,445
  15,146
Operating income, $m
  553
  572
  599
  628
  659
  693
  730
  769
  811
  856
  903
  1,076
  1,129
  1,186
  1,246
  1,310
  1,377
  1,449
  1,524
  1,604
  1,688
  1,776
  1,870
  1,968
  2,072
  2,182
  2,297
  2,419
  2,547
  2,681
  2,823
EBITDA, $m
  664
  751
  779
  811
  845
  881
  921
  963
  1,007
  1,055
  1,106
  1,160
  1,218
  1,279
  1,343
  1,411
  1,483
  1,560
  1,640
  1,725
  1,815
  1,910
  2,010
  2,115
  2,226
  2,343
  2,466
  2,596
  2,733
  2,877
  3,029
Interest expense (income), $m
  73
  72
  77
  82
  88
  95
  102
  109
  116
  125
  133
  143
  152
  163
  174
  185
  197
  210
  224
  238
  253
  269
  285
  303
  321
  340
  361
  382
  405
  428
  453
Earnings before tax, $m
  483
  500
  522
  545
  571
  599
  628
  660
  695
  731
  770
  933
  977
  1,023
  1,073
  1,125
  1,180
  1,239
  1,300
  1,366
  1,435
  1,508
  1,584
  1,666
  1,751
  1,841
  1,936
  2,036
  2,142
  2,253
  2,370
Tax expense, $m
  126
  135
  141
  147
  154
  162
  170
  178
  188
  197
  208
  252
  264
  276
  290
  304
  319
  334
  351
  369
  387
  407
  428
  450
  473
  497
  523
  550
  578
  608
  640
Net income, $m
  355
  365
  381
  398
  417
  437
  459
  482
  507
  534
  562
  681
  713
  747
  783
  821
  862
  904
  949
  997
  1,047
  1,101
  1,157
  1,216
  1,278
  1,344
  1,413
  1,487
  1,564
  1,645
  1,730

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  265
  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
  4,765
  4,652
  4,818
  4,996
  5,188
  5,393
  5,611
  5,844
  6,092
  6,354
  6,632
  6,927
  7,239
  7,568
  7,916
  8,282
  8,669
  9,077
  9,507
  9,959
  10,435
  10,937
  11,465
  12,020
  12,604
  13,218
  13,864
  14,542
  15,256
  16,006
  16,794
Adjusted assets (=assets-cash), $m
  4,500
  4,652
  4,818
  4,996
  5,188
  5,393
  5,611
  5,844
  6,092
  6,354
  6,632
  6,927
  7,239
  7,568
  7,916
  8,282
  8,669
  9,077
  9,507
  9,959
  10,435
  10,937
  11,465
  12,020
  12,604
  13,218
  13,864
  14,542
  15,256
  16,006
  16,794
Revenue / Adjusted assets
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
  1.070
Average production assets, $m
  1,199
  1,239
  1,284
  1,331
  1,382
  1,437
  1,495
  1,557
  1,623
  1,693
  1,767
  1,846
  1,929
  2,016
  2,109
  2,207
  2,310
  2,418
  2,533
  2,653
  2,780
  2,914
  3,055
  3,202
  3,358
  3,522
  3,694
  3,875
  4,065
  4,264
  4,475
Working capital, $m
  1,133
  901
  933
  968
  1,005
  1,044
  1,087
  1,132
  1,180
  1,231
  1,285
  1,342
  1,402
  1,466
  1,533
  1,604
  1,679
  1,758
  1,841
  1,929
  2,021
  2,118
  2,220
  2,328
  2,441
  2,560
  2,685
  2,816
  2,955
  3,100
  3,253
Total debt, $m
  1,640
  1,750
  1,875
  2,009
  2,153
  2,308
  2,472
  2,648
  2,834
  3,032
  3,241
  3,463
  3,698
  3,946
  4,207
  4,484
  4,775
  5,082
  5,405
  5,746
  6,105
  6,483
  6,880
  7,298
  7,738
  8,200
  8,686
  9,197
  9,735
  10,300
  10,893
Total liabilities, $m
  3,393
  3,503
  3,628
  3,762
  3,906
  4,061
  4,225
  4,401
  4,587
  4,785
  4,994
  5,216
  5,451
  5,699
  5,960
  6,237
  6,528
  6,835
  7,158
  7,499
  7,858
  8,236
  8,633
  9,051
  9,491
  9,953
  10,439
  10,950
  11,488
  12,053
  12,646
Total equity, $m
  1,372
  1,149
  1,190
  1,234
  1,281
  1,332
  1,386
  1,443
  1,505
  1,569
  1,638
  1,711
  1,788
  1,869
  1,955
  2,046
  2,141
  2,242
  2,348
  2,460
  2,578
  2,701
  2,832
  2,969
  3,113
  3,265
  3,424
  3,592
  3,768
  3,953
  4,148
Total liabilities and equity, $m
  4,765
  4,652
  4,818
  4,996
  5,187
  5,393
  5,611
  5,844
  6,092
  6,354
  6,632
  6,927
  7,239
  7,568
  7,915
  8,283
  8,669
  9,077
  9,506
  9,959
  10,436
  10,937
  11,465
  12,020
  12,604
  13,218
  13,863
  14,542
  15,256
  16,006
  16,794
Debt-to-equity ratio
  1.195
  1.520
  1.580
  1.630
  1.680
  1.730
  1.780
  1.830
  1.880
  1.930
  1.980
  2.020
  2.070
  2.110
  2.150
  2.190
  2.230
  2.270
  2.300
  2.340
  2.370
  2.400
  2.430
  2.460
  2.490
  2.510
  2.540
  2.560
  2.580
  2.610
  2.630
Adjusted equity ratio
  0.246
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  355
  365
  381
  398
  417
  437
  459
  482
  507
  534
  562
  681
  713
  747
  783
  821
  862
  904
  949
  997
  1,047
  1,101
  1,157
  1,216
  1,278
  1,344
  1,413
  1,487
  1,564
  1,645
  1,730
Depreciation, amort., depletion, $m
  111
  179
  181
  183
  185
  188
  191
  193
  196
  200
  203
  85
  88
  92
  97
  101
  106
  111
  116
  122
  128
  134
  140
  147
  154
  162
  169
  178
  186
  196
  205
Funds from operations, $m
  451
  544
  562
  581
  602
  625
  649
  676
  703
  733
  765
  766
  802
  840
  880
  922
  967
  1,015
  1,066
  1,119
  1,175
  1,234
  1,297
  1,363
  1,432
  1,506
  1,583
  1,664
  1,750
  1,840
  1,935
Change in working capital, $m
  -24
  30
  32
  35
  37
  40
  42
  45
  48
  51
  54
  57
  60
  64
  67
  71
  75
  79
  83
  88
  92
  97
  102
  108
  113
  119
  125
  131
  138
  145
  153
Cash from operations, $m
  475
  514
  530
  547
  565
  585
  607
  630
  656
  682
  711
  709
  741
  776
  812
  851
  893
  936
  982
  1,031
  1,083
  1,137
  1,195
  1,255
  1,319
  1,387
  1,458
  1,533
  1,612
  1,695
  1,783
Maintenance CAPEX, $m
  0
  -55
  -57
  -59
  -61
  -63
  -66
  -69
  -71
  -74
  -78
  -81
  -85
  -88
  -92
  -97
  -101
  -106
  -111
  -116
  -122
  -128
  -134
  -140
  -147
  -154
  -162
  -169
  -178
  -186
  -196
New CAPEX, $m
  -117
  -40
  -44
  -48
  -51
  -55
  -58
  -62
  -66
  -70
  -74
  -78
  -83
  -88
  -93
  -98
  -103
  -109
  -114
  -121
  -127
  -134
  -141
  -148
  -156
  -164
  -172
  -181
  -190
  -200
  -210
Cash from investing activities, $m
  -166
  -95
  -101
  -107
  -112
  -118
  -124
  -131
  -137
  -144
  -152
  -159
  -168
  -176
  -185
  -195
  -204
  -215
  -225
  -237
  -249
  -262
  -275
  -288
  -303
  -318
  -334
  -350
  -368
  -386
  -406
Free cash flow, $m
  309
  419
  429
  440
  453
  467
  483
  500
  518
  538
  559
  549
  574
  600
  627
  657
  688
  722
  757
  794
  834
  876
  920
  967
  1,017
  1,069
  1,124
  1,183
  1,244
  1,309
  1,377
Issuance/(repayment) of debt, $m
  -5
  115
  125
  134
  144
  154
  165
  175
  186
  198
  210
  222
  235
  248
  262
  276
  291
  307
  324
  341
  359
  378
  397
  418
  440
  462
  486
  511
  537
  565
  594
Issuance/(repurchase) of shares, $m
  -53
  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  
  -62
  115
  125
  134
  144
  154
  165
  175
  186
  198
  210
  222
  235
  248
  262
  276
  291
  307
  324
  341
  359
  378
  397
  418
  440
  462
  486
  511
  537
  565
  594
Total cash flow (excl. dividends), $m
  234
  534
  553
  575
  597
  622
  648
  675
  705
  736
  769
  771
  808
  847
  889
  933
  980
  1,029
  1,080
  1,135
  1,193
  1,254
  1,318
  1,385
  1,456
  1,531
  1,610
  1,694
  1,781
  1,874
  1,971
Retained Cash Flow (-), $m
  -81
  -37
  -41
  -44
  -47
  -51
  -54
  -58
  -61
  -65
  -69
  -73
  -77
  -81
  -86
  -91
  -96
  -101
  -106
  -112
  -118
  -124
  -130
  -137
  -144
  -152
  -159
  -168
  -176
  -185
  -195
Prev. year cash balance distribution, $m
 
  260
  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
 
  757
  512
  530
  550
  571
  593
  618
  643
  671
  700
  698
  731
  766
  803
  842
  884
  928
  974
  1,023
  1,075
  1,130
  1,187
  1,248
  1,312
  1,380
  1,451
  1,526
  1,605
  1,688
  1,776
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
 
  710
  449
  431
  411
  390
  368
  344
  319
  294
  268
  231
  206
  182
  159
  137
  116
  97
  80
  65
  51
  40
  31
  23
  17
  12
  8
  6
  4
  2
  1
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

RPM International Inc. manufactures, markets, and sells specialty chemical products for industrial, specialty, and consumer markets worldwide. Its Industrial segment offers waterproofing, coatings, and institutional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance and related services; sealing and bonding solutions; flooring and in-plant glazing solutions; passive fire protection and manufacturing industry solutions; polymer flooring systems; and fiberglass reinforced plastic gratings and shapes. This segment also offers corrosion-control coatings, containment linings, fire and sound proofing products, and insulation products; rolled asphalt roofing materials, chemical admixtures, and industrial epoxy flooring systems; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts, epoxy adhesives, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials, as well as specialty construction products. The company’s Specialty segment provides fluorescent colorants and pigments; shellac-based-specialty and marine coatings; insulated building cladding materials; fire and water damage restoration products; carpet cleaning and disinfecting products; fuel additives; and wood treatments, furniture finishes, and touch-up products. Its Consumer segment offers professional use and do-it-yourself (DIY) products, such as specialty products for paint contractors and the DIYers, deck and fence restoration products, metallic and faux finish coatings, exterior wood deck and concrete restoration systems, flooring finishes, hobby paints and cements, and nail care enamel polish and coating components, as well as caulk, sealant, adhesive, insulating foam, spackling, glazing, and other general patch and repair products. The company was founded in 1947 and is headquartered in Medina, Ohio.

FINANCIAL RATIOS  of  RPM International (RPM)

Valuation Ratios
P/E Ratio 18.1
Price to Sales 1.3
Price to Book 4.7
Price to Tangible Book
Price to Cash Flow 13.6
Price to Free Cash Flow 18
Growth Rates
Sales Growth Rate 4.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 37.6%
Cap. Spend. - 3 Yr. Gr. Rate 5.2%
Financial Strength
Quick Ratio 53
Current Ratio 0
LT Debt to Equity 119.2%
Total Debt to Equity 119.5%
Interest Coverage 8
Management Effectiveness
Return On Assets 8.6%
Ret/ On Assets - 3 Yr. Avg. 7.7%
Return On Total Capital 11.9%
Ret/ On T. Cap. - 3 Yr. Avg. 10.4%
Return On Equity 26.7%
Return On Equity - 3 Yr. Avg. 22.4%
Asset Turnover 1
Profitability Ratios
Gross Margin 43.4%
Gross Margin - 3 Yr. Avg. 42.8%
EBITDA Margin 13.9%
EBITDA Margin - 3 Yr. Avg. 13.7%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 11.3%
Pre-Tax Margin 10%
Pre-Tax Margin - 3 Yr. Avg. 9.9%
Net Profit Margin 7.4%
Net Profit Margin - 3 Yr. Avg. 6.4%
Effective Tax Rate 26.1%
Eff/ Tax Rate - 3 Yr. Avg. 34.5%
Payout Ratio 40.6%

RPM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RPM stock intrinsic value calculation we used $4814 million for the last fiscal year's total revenue generated by RPM International. The default revenue input number comes from 2016 income statement of RPM International. 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 RPM stock valuation model: a) initial revenue growth rate of 3.4% 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 RPM is calculated based on our internal credit rating of RPM International, 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 RPM International.
    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 RPM stock the variable cost ratio is equal to 84.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $199 million in the base year in the intrinsic value calculation for RPM 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 4.4% for RPM International.

Corporate tax rate of 27% is the nominal tax rate for RPM International. 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 RPM 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 RPM are equal to 24.9%.

Life of production assets of 21.8 years is the average useful life of capital assets used in RPM International 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 RPM is equal to 18.1%. 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 - $1372 million for RPM International - 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 132.61 million for RPM International 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 RPM International at the current share price and the inputted number of shares is $6.4 billion.

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COMPANY NEWS

▶ Cleveland company acquires Greater Cincinnati manufacturer   [Jul-31-17 11:14AM  American City Business Journals]
▶ RPM International misses 4Q profit forecasts   [Jul-24-17 10:09PM  Associated Press]
▶ Analysts Expect RPM Internationals Adjusted EPS to Grow   [Jul-13-17 10:37AM  Market Realist]
▶ RPM Declares Quarterly Dividend   [Jul-05-17 09:00AM  Business Wire]
▶ 3 Dividend Stocks Perfect for Retirement   [Jun-24-17 08:16AM  Motley Fool]
▶ Will Axaltas New Product Launches Boost Revenue?   [Jun-19-17 08:31AM  Market Realist]
▶ What Analysts Recommend for RPM International   [Apr-17-17 01:06PM  Market Realist]
▶ RPM International tops 3Q profit forecasts   [06:55AM  Associated Press]
▶ RPM Declares Quarterly Dividend   [Apr-04-17 09:00AM  Business Wire]
▶ What Analysts Recommend for RPM International   [07:37AM  Market Realist]
▶ Why Analysts Expect RPM Internationals Adjusted EPS to Fall   [Apr-03-17 12:35PM  Market Realist]
Stock chart of RPM Financial statements of RPM
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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