Intrinsic value of RSP Permian - RSPP

Previous Close

$31.32

  Intrinsic Value

$53.95

stock screener

  Rating & Target

str. buy

+72%

  Value-price divergence*

+143%

Previous close

$31.32

 
Intrinsic value

$53.95

 
Up/down potential

+72%

 
Rating

str. buy

 
Value-price divergence*

+143%

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

We calculate the intrinsic value of RSPP 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 3.8

 

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, %
  24.65
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  354
  566
  875
  1,309
  1,899
  2,679
  3,683
  4,944
  6,491
  8,353
  10,550
  13,101
  16,017
  19,306
  22,971
  27,009
  31,418
  36,191
  41,320
  46,798
  52,614
  58,763
  65,238
  72,033
  79,146
  86,576
  94,323
  102,391
  110,785
  119,513
  128,585
Variable operating expenses, $m
 
  251
  389
  581
  843
  1,189
  1,635
  2,195
  2,882
  3,709
  4,684
  5,817
  7,112
  8,572
  10,199
  11,992
  13,950
  16,069
  18,346
  20,778
  23,361
  26,091
  28,966
  31,983
  35,141
  38,440
  41,879
  45,462
  49,189
  53,064
  57,092
Fixed operating expenses, $m
 
  174
  179
  183
  188
  192
  197
  202
  207
  212
  218
  223
  229
  234
  240
  246
  252
  259
  265
  272
  279
  286
  293
  300
  307
  315
  323
  331
  339
  348
  357
Total operating expenses, $m
  323
  425
  568
  764
  1,031
  1,381
  1,832
  2,397
  3,089
  3,921
  4,902
  6,040
  7,341
  8,806
  10,439
  12,238
  14,202
  16,328
  18,611
  21,050
  23,640
  26,377
  29,259
  32,283
  35,448
  38,755
  42,202
  45,793
  49,528
  53,412
  57,449
Operating income, $m
  31
  141
  308
  545
  868
  1,297
  1,851
  2,547
  3,402
  4,432
  5,648
  7,061
  8,677
  10,500
  12,531
  14,771
  17,216
  19,864
  22,709
  25,748
  28,975
  32,387
  35,980
  39,750
  43,698
  47,821
  52,120
  56,598
  61,257
  66,101
  71,137
EBITDA, $m
  225
  141
  308
  545
  868
  1,297
  1,851
  2,547
  3,402
  4,432
  5,648
  7,061
  8,677
  10,500
  12,531
  14,771
  17,216
  19,864
  22,709
  25,748
  28,975
  32,387
  35,980
  39,750
  43,698
  47,821
  52,120
  56,598
  61,257
  66,101
  71,137
Interest expense (income), $m
  50
  62
  115
  191
  298
  443
  635
  882
  1,192
  1,573
  2,032
  2,572
  3,200
  3,918
  4,728
  5,630
  6,624
  7,709
  8,884
  10,147
  11,495
  12,927
  14,440
  16,034
  17,707
  19,458
  21,287
  23,194
  25,180
  27,246
  29,395
Earnings before tax, $m
  -44
  78
  193
  354
  571
  854
  1,216
  1,665
  2,210
  2,859
  3,617
  4,489
  5,477
  6,582
  7,804
  9,141
  10,592
  12,154
  13,825
  15,601
  17,480
  19,460
  21,539
  23,716
  25,991
  28,363
  30,834
  33,404
  36,077
  38,855
  41,742
Tax expense, $m
  -19
  21
  52
  96
  154
  231
  328
  449
  597
  772
  977
  1,212
  1,479
  1,777
  2,107
  2,468
  2,860
  3,282
  3,733
  4,212
  4,720
  5,254
  5,816
  6,403
  7,018
  7,658
  8,325
  9,019
  9,741
  10,491
  11,270
Net income, $m
  -25
  57
  141
  258
  417
  624
  887
  1,215
  1,613
  2,087
  2,640
  3,277
  3,998
  4,805
  5,697
  6,673
  7,732
  8,873
  10,092
  11,389
  12,760
  14,206
  15,724
  17,313
  18,973
  20,705
  22,509
  24,385
  26,336
  28,364
  30,472

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  691
  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
  4,996
  6,907
  10,672
  15,960
  23,157
  32,671
  44,915
  60,289
  79,163
  101,863
  128,662
  159,769
  195,333
  235,442
  280,129
  329,382
  383,150
  441,357
  503,908
  570,702
  641,638
  716,625
  795,583
  878,453
  965,197
  1,055,801
  1,150,279
  1,248,669
  1,351,038
  1,457,478
  1,568,109
Adjusted assets (=assets-cash), $m
  4,305
  6,907
  10,672
  15,960
  23,157
  32,671
  44,915
  60,289
  79,163
  101,863
  128,662
  159,769
  195,333
  235,442
  280,129
  329,382
  383,150
  441,357
  503,908
  570,702
  641,638
  716,625
  795,583
  878,453
  965,197
  1,055,801
  1,150,279
  1,248,669
  1,351,038
  1,457,478
  1,568,109
Revenue / Adjusted assets
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
  0.082
Average production assets, $m
  -456
  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
Working capital, $m
  668
  -37
  -57
  -85
  -123
  -174
  -239
  -321
  -422
  -543
  -686
  -852
  -1,041
  -1,255
  -1,493
  -1,756
  -2,042
  -2,352
  -2,686
  -3,042
  -3,420
  -3,820
  -4,240
  -4,682
  -5,144
  -5,627
  -6,131
  -6,655
  -7,201
  -7,768
  -8,358
Total debt, $m
  1,132
  2,088
  3,470
  5,410
  8,052
  11,543
  16,037
  21,679
  28,606
  36,937
  46,772
  58,188
  71,240
  85,960
  102,360
  120,436
  140,169
  161,531
  184,487
  209,001
  235,034
  262,554
  291,532
  321,945
  353,780
  387,032
  421,705
  457,815
  495,384
  534,448
  575,049
Total liabilities, $m
  1,579
  2,535
  3,917
  5,857
  8,499
  11,990
  16,484
  22,126
  29,053
  37,384
  47,219
  58,635
  71,687
  86,407
  102,807
  120,883
  140,616
  161,978
  184,934
  209,448
  235,481
  263,001
  291,979
  322,392
  354,227
  387,479
  422,152
  458,262
  495,831
  534,895
  575,496
Total equity, $m
  3,417
  4,372
  6,755
  10,102
  14,658
  20,681
  28,431
  38,163
  50,110
  64,480
  81,443
  101,134
  123,646
  149,034
  177,322
  208,499
  242,534
  279,379
  318,974
  361,254
  406,157
  453,624
  503,604
  556,061
  610,970
  668,322
  728,127
  790,408
  855,207
  922,584
  992,613
Total liabilities and equity, $m
  4,996
  6,907
  10,672
  15,959
  23,157
  32,671
  44,915
  60,289
  79,163
  101,864
  128,662
  159,769
  195,333
  235,441
  280,129
  329,382
  383,150
  441,357
  503,908
  570,702
  641,638
  716,625
  795,583
  878,453
  965,197
  1,055,801
  1,150,279
  1,248,670
  1,351,038
  1,457,479
  1,568,109
Debt-to-equity ratio
  0.331
  0.480
  0.510
  0.540
  0.550
  0.560
  0.560
  0.570
  0.570
  0.570
  0.570
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
  0.580
Adjusted equity ratio
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633
  0.633

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -25
  57
  141
  258
  417
  624
  887
  1,215
  1,613
  2,087
  2,640
  3,277
  3,998
  4,805
  5,697
  6,673
  7,732
  8,873
  10,092
  11,389
  12,760
  14,206
  15,724
  17,313
  18,973
  20,705
  22,509
  24,385
  26,336
  28,364
  30,472
Depreciation, amort., depletion, $m
  194
  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
Funds from operations, $m
  125
  57
  141
  258
  417
  624
  887
  1,215
  1,613
  2,087
  2,640
  3,277
  3,998
  4,805
  5,697
  6,673
  7,732
  8,873
  10,092
  11,389
  12,760
  14,206
  15,724
  17,313
  18,973
  20,705
  22,509
  24,385
  26,336
  28,364
  30,472
Change in working capital, $m
  -41
  -14
  -20
  -28
  -38
  -51
  -65
  -82
  -101
  -121
  -143
  -166
  -190
  -214
  -238
  -263
  -287
  -310
  -333
  -356
  -378
  -400
  -421
  -442
  -462
  -483
  -504
  -524
  -546
  -567
  -590
Cash from operations, $m
  166
  71
  161
  286
  455
  674
  953
  1,297
  1,714
  2,208
  2,783
  3,443
  4,187
  5,018
  5,935
  6,936
  8,019
  9,183
  10,426
  11,745
  13,138
  14,605
  16,144
  17,755
  19,436
  21,188
  23,012
  24,910
  26,882
  28,932
  31,061
Maintenance CAPEX, $m
  0
  46
  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
New CAPEX, $m
  -676
  -456
  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 investing activities, $m
  -1,029
  -410
  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
Free cash flow, $m
  -863
  -339
  161
  286
  455
  674
  953
  1,297
  1,714
  2,208
  2,783
  3,443
  4,187
  5,018
  5,935
  6,936
  8,019
  9,183
  10,426
  11,745
  13,138
  14,605
  16,144
  17,755
  19,436
  21,188
  23,012
  24,910
  26,882
  28,932
  31,061
Issuance/(repayment) of debt, $m
  450
  956
  1,382
  1,941
  2,641
  3,492
  4,494
  5,642
  6,927
  8,331
  9,835
  11,416
  13,052
  14,720
  16,400
  18,076
  19,733
  21,362
  22,956
  24,513
  26,034
  27,520
  28,978
  30,413
  31,835
  33,252
  34,673
  36,109
  37,569
  39,064
  40,602
Issuance/(repurchase) of shares, $m
  973
  1,589
  2,242
  3,089
  4,139
  5,399
  6,863
  8,517
  10,334
  12,283
  14,323
  16,414
  18,514
  20,584
  22,590
  24,504
  26,303
  27,972
  29,503
  30,892
  32,142
  33,261
  34,257
  35,144
  35,936
  36,648
  37,296
  37,896
  38,463
  39,012
  39,558
Cash from financing (excl. dividends), $m  
  1,411
  2,545
  3,624
  5,030
  6,780
  8,891
  11,357
  14,159
  17,261
  20,614
  24,158
  27,830
  31,566
  35,304
  38,990
  42,580
  46,036
  49,334
  52,459
  55,405
  58,176
  60,781
  63,235
  65,557
  67,771
  69,900
  71,969
  74,005
  76,032
  78,076
  80,160
Total cash flow (excl. dividends), $m
  548
  2,206
  3,785
  5,316
  7,235
  9,565
  12,309
  15,456
  18,975
  22,822
  26,941
  31,273
  35,753
  40,323
  44,926
  49,515
  54,055
  58,517
  62,884
  67,150
  71,315
  75,386
  79,379
  83,312
  87,206
  91,087
  94,981
  98,915
  102,914
  107,008
  111,221
Retained Cash Flow (-), $m
  -1,558
  -1,646
  -2,383
  -3,347
  -4,556
  -6,022
  -7,750
  -9,732
  -11,947
  -14,369
  -16,963
  -19,691
  -22,512
  -25,389
  -28,287
  -31,177
  -34,035
  -36,845
  -39,595
  -42,281
  -44,903
  -47,466
  -49,980
  -52,457
  -54,909
  -57,353
  -59,804
  -62,281
  -64,799
  -67,377
  -70,029
Prev. year cash balance distribution, $m
 
  691
  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
 
  1,250
  1,402
  1,969
  2,680
  3,542
  4,559
  5,724
  7,027
  8,452
  9,978
  11,582
  13,241
  14,934
  16,638
  18,338
  20,020
  21,672
  23,290
  24,869
  26,412
  27,920
  29,398
  30,855
  32,297
  33,735
  35,177
  36,634
  38,115
  39,631
  41,191
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
 
  1,199
  1,283
  1,713
  2,206
  2,746
  3,309
  3,867
  4,392
  4,855
  5,231
  5,500
  5,651
  5,678
  5,586
  5,384
  5,087
  4,715
  4,289
  3,829
  3,356
  2,888
  2,439
  2,022
  1,645
  1,312
  1,026
  786
  590
  433
  310
Current shareholders' claim on cash, %
  100
  65.8
  45.2
  32.1
  23.5
  17.7
  13.6
  10.8
  8.7
  7.1
  5.9
  5.0
  4.3
  3.8
  3.3
  3.0
  2.7
  2.4
  2.2
  2.0
  1.9
  1.8
  1.6
  1.5
  1.5
  1.4
  1.3
  1.3
  1.2
  1.2
  1.1

RSP Permian, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. It owns interest in contiguous acreage blocks in the core of the Midland Basin, a sub-basin of the Permian Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector, and Glasscock. RSP Permian, Inc. was founded in 2010 and is headquartered in Dallas, Texas.

FINANCIAL RATIOS  of  RSP Permian (RSPP)

Valuation Ratios
P/E Ratio -177.8
Price to Sales 12.6
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 26.8
Price to Free Cash Flow -8.7
Growth Rates
Sales Growth Rate 24.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -22.6%
Cap. Spend. - 3 Yr. Gr. Rate 23.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 33.1%
Total Debt to Equity 33.1%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.1%
Ret/ On Assets - 3 Yr. Avg. 0.2%
Return On Total Capital -0.7%
Ret/ On T. Cap. - 3 Yr. Avg. -0.4%
Return On Equity -0.9%
Return On Equity - 3 Yr. Avg. -0.6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 77.4%
Gross Margin - 3 Yr. Avg. 77.4%
EBITDA Margin 56.5%
EBITDA Margin - 3 Yr. Avg. 68.2%
Operating Margin 8.8%
Oper. Margin - 3 Yr. Avg. 13%
Pre-Tax Margin -12.4%
Pre-Tax Margin - 3 Yr. Avg. 11.2%
Net Profit Margin -7.1%
Net Profit Margin - 3 Yr. Avg. -4.1%
Effective Tax Rate 43.2%
Eff/ Tax Rate - 3 Yr. Avg. 60.4%
Payout Ratio 0%

RSPP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RSPP stock intrinsic value calculation we used $354 million for the last fiscal year's total revenue generated by RSP Permian. The default revenue input number comes from 2016 income statement of RSP Permian. 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 RSPP stock valuation model: a) initial revenue growth rate of 60% 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 RSPP is calculated based on our internal credit rating of RSP Permian, 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 RSP Permian.
    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 RSPP stock the variable cost ratio is equal to 44.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $170 million in the base year in the intrinsic value calculation for RSPP 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 5.5% for RSP Permian.

Corporate tax rate of 27% is the nominal tax rate for RSP Permian. 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 RSPP 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 RSPP are equal to 0%.

Life of production assets of 10 years is the average useful life of capital assets used in RSP Permian 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 RSPP is equal to -6.5%. 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 - $3417 million for RSP Permian - 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 122.346 million for RSP Permian 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 RSP Permian at the current share price and the inputted number of shares is $3.8 billion.

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COMPANY NEWS

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▶ RSP Permian beats 2Q profit forecasts   [Aug-07-17 11:56PM  Associated Press]
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▶ ETFs with exposure to RSP Permian, Inc. : July 24, 2017   [Jul-24-17 06:57PM  Capital Cube]
▶ ETFs with exposure to RSP Permian, Inc. : July 14, 2017   [Jul-14-17 04:40PM  Capital Cube]
▶ Which Oil-Weighted Stocks Were Impacted Less by Oils Fall?   [Jul-11-17 03:34PM  Market Realist]
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▶ 3 Growth Stocks That Could Soar More Than Tesla   [Jun-23-17 09:35AM  Motley Fool]
▶ Are Hedge Funds Expecting A Permian Bubble?   [Jun-21-17 06:00PM  Oilprice.com]
▶ These Energy Stocks Fell the Most Last Week   [Jun-19-17 02:17PM  Market Realist]
▶ 3 Monster Stocks in the Making   [Jun-10-17 12:00PM  Motley Fool]
▶ U.S. Shale In No Hurry To Hedge, Bet On Higher Oil Prices   [May-17-17 06:00PM  Oilprice.com]
▶ ETFs with exposure to RSP Permian, Inc. : May 5, 2017   [May-05-17 04:30PM  Capital Cube]
▶ Strong Results Will Take RSP Permian Higher   [May-03-17 01:15PM  GuruFocus.com]
▶ RSP Permian beats Street 1Q forecasts   [May-02-17 05:10PM  Associated Press]
▶ Baker Hughes U.S. Rig Count Rises by 13   [Apr-28-17 01:18PM  TheStreet.com]
▶ Betting on Oil's Turnaround? Here's Where to Put Your Money   [Apr-24-17 07:47AM  TheStreet.com]
▶ 3 Mid-Cap Stocks to Buy in April   [Apr-19-17 08:30AM  Motley Fool]
▶ Is Oil Outperforming Oil-Weighted Stocks?   [12:57PM  Market Realist]
▶ Why the Permian M&A Boom May Not End Well   [Apr-04-17 08:18AM  TheStreet.com]
▶ E&P stocks to buy and sell: Analyst   [02:34PM  CNBC Videos]
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▶ Baron Funds Comments on RSP Permian   [Mar-16-17 03:58PM  GuruFocus.com]
▶ Has OPEC Underestimated U.S. Shale Once Again?   [Mar-15-17 08:00PM  Oilprice.com]
▶ 5 Oil Stocks Poised for Explosive Growth in 2017   [Mar-04-17 08:00AM  at Motley Fool]
▶ Coming Shale Growth a Major Threat to Oil Prices   [Feb-24-17 07:00AM  at Morningstar]
▶ 4 Stocks With Great 12-Month Performances   [Feb-16-17 02:19PM  Gurufocus]
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Stock chart of RSPP Financial statements of RSPP
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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