Intrinsic value of ReWalk Robotics - RWLK

Previous Close

$1.10

  Intrinsic Value

$0.09

stock screener

  Rating & Target

str. sell

-92%

Previous close

$1.10

 
Intrinsic value

$0.09

 
Up/down potential

-92%

 
Rating

str. sell

We calculate the intrinsic value of RWLK 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 0.0

 

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, %
  50.00
  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
  6
  10
  15
  22
  32
  45
  62
  84
  110
  142
  179
  222
  271
  327
  389
  458
  533
  613
  700
  793
  892
  996
  1,106
  1,221
  1,341
  1,467
  1,599
  1,735
  1,878
  2,026
  2,179
Variable operating expenses, $m
 
  34
  52
  78
  113
  159
  218
  293
  385
  496
  626
  777
  950
  1,145
  1,363
  1,602
  1,864
  2,147
  2,451
  2,776
  3,121
  3,486
  3,870
  4,273
  4,695
  5,136
  5,595
  6,074
  6,572
  7,090
  7,628
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
  36
  49
  68
  94
  130
  176
  235
  311
  403
  515
  645
  797
  970
  1,166
  1,384
  1,624
  1,886
  2,170
  2,474
  2,800
  3,146
  3,511
  3,896
  4,299
  4,722
  5,164
  5,624
  6,103
  6,602
  7,121
  7,659
Operating income, $m
  -30
  -39
  -53
  -72
  -97
  -130
  -173
  -227
  -293
  -373
  -466
  -575
  -699
  -839
  -995
  -1,166
  -1,354
  -1,556
  -1,774
  -2,007
  -2,254
  -2,515
  -2,790
  -3,079
  -3,381
  -3,696
  -4,025
  -4,368
  -4,724
  -5,095
  -5,480
EBITDA, $m
  -29
  -39
  -52
  -70
  -95
  -128
  -170
  -223
  -288
  -366
  -457
  -564
  -685
  -822
  -975
  -1,143
  -1,327
  -1,526
  -1,739
  -1,967
  -2,209
  -2,465
  -2,735
  -3,018
  -3,314
  -3,623
  -3,945
  -4,281
  -4,630
  -4,994
  -5,371
Interest expense (income), $m
  1
  1
  1
  1
  2
  4
  5
  8
  10
  14
  18
  23
  29
  35
  43
  51
  60
  70
  81
  93
  105
  118
  132
  147
  162
  178
  195
  212
  230
  249
  269
Earnings before tax, $m
  -33
  -40
  -53
  -73
  -99
  -134
  -179
  -235
  -304
  -387
  -484
  -598
  -728
  -874
  -1,037
  -1,217
  -1,414
  -1,627
  -1,855
  -2,100
  -2,359
  -2,633
  -2,922
  -3,225
  -3,543
  -3,874
  -4,220
  -4,580
  -4,955
  -5,344
  -5,749
Tax expense, $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
  0
Net income, $m
  -33
  -40
  -53
  -73
  -99
  -134
  -179
  -235
  -304
  -387
  -484
  -598
  -728
  -874
  -1,037
  -1,217
  -1,414
  -1,627
  -1,855
  -2,100
  -2,359
  -2,633
  -2,922
  -3,225
  -3,543
  -3,874
  -4,220
  -4,580
  -4,955
  -5,344
  -5,749

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  24
  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
  32
  13
  20
  30
  43
  61
  83
  112
  147
  189
  238
  296
  362
  436
  519
  610
  710
  818
  934
  1,058
  1,189
  1,328
  1,474
  1,628
  1,789
  1,957
  2,132
  2,314
  2,504
  2,701
  2,906
Adjusted assets (=assets-cash), $m
  8
  13
  20
  30
  43
  61
  83
  112
  147
  189
  238
  296
  362
  436
  519
  610
  710
  818
  934
  1,058
  1,189
  1,328
  1,474
  1,628
  1,789
  1,957
  2,132
  2,314
  2,504
  2,701
  2,906
Revenue / Adjusted assets
  0.750
  0.769
  0.750
  0.733
  0.744
  0.738
  0.747
  0.750
  0.748
  0.751
  0.752
  0.750
  0.749
  0.750
  0.750
  0.751
  0.751
  0.749
  0.749
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
Average production assets, $m
  2
  2
  4
  6
  8
  11
  16
  21
  28
  35
  45
  56
  68
  82
  97
  114
  133
  153
  175
  198
  223
  249
  276
  305
  335
  367
  400
  434
  469
  506
  545
Working capital, $m
  17
  2
  2
  4
  5
  8
  10
  14
  18
  24
  30
  37
  45
  55
  65
  76
  89
  102
  117
  132
  149
  166
  185
  204
  224
  245
  267
  290
  314
  338
  364
Total debt, $m
  18
  6
  12
  21
  33
  48
  69
  95
  126
  164
  209
  260
  320
  387
  461
  543
  633
  730
  834
  946
  1,064
  1,189
  1,321
  1,459
  1,604
  1,755
  1,912
  2,077
  2,247
  2,425
  2,609
Total liabilities, $m
  24
  12
  18
  27
  39
  54
  75
  101
  132
  170
  215
  266
  326
  393
  467
  549
  639
  736
  840
  952
  1,070
  1,195
  1,327
  1,465
  1,610
  1,761
  1,918
  2,083
  2,253
  2,431
  2,615
Total equity, $m
  8
  1
  2
  3
  4
  6
  8
  11
  15
  19
  24
  30
  36
  44
  52
  61
  71
  82
  93
  106
  119
  133
  147
  163
  179
  196
  213
  231
  250
  270
  291
Total liabilities and equity, $m
  32
  13
  20
  30
  43
  60
  83
  112
  147
  189
  239
  296
  362
  437
  519
  610
  710
  818
  933
  1,058
  1,189
  1,328
  1,474
  1,628
  1,789
  1,957
  2,131
  2,314
  2,503
  2,701
  2,906
Debt-to-equity ratio
  2.250
  4.310
  5.970
  6.970
  7.600
  8.010
  8.280
  8.460
  8.590
  8.680
  8.750
  8.800
  8.830
  8.860
  8.880
  8.900
  8.920
  8.930
  8.940
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
Adjusted equity ratio
  -2.000
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -33
  -40
  -53
  -73
  -99
  -134
  -179
  -235
  -304
  -387
  -484
  -598
  -728
  -874
  -1,037
  -1,217
  -1,414
  -1,627
  -1,855
  -2,100
  -2,359
  -2,633
  -2,922
  -3,225
  -3,543
  -3,874
  -4,220
  -4,580
  -4,955
  -5,344
  -5,749
Depreciation, amort., depletion, $m
  1
  0
  1
  1
  2
  2
  3
  4
  6
  7
  9
  11
  14
  16
  19
  23
  27
  31
  35
  40
  45
  50
  55
  61
  67
  73
  80
  87
  94
  101
  109
Funds from operations, $m
  -28
  -40
  -53
  -72
  -98
  -132
  -176
  -231
  -298
  -380
  -475
  -587
  -714
  -858
  -1,018
  -1,194
  -1,387
  -1,596
  -1,820
  -2,060
  -2,314
  -2,583
  -2,867
  -3,164
  -3,476
  -3,801
  -4,140
  -4,493
  -4,861
  -5,243
  -5,640
Change in working capital, $m
  0
  1
  1
  1
  2
  2
  3
  4
  4
  5
  6
  7
  8
  9
  10
  11
  12
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
Cash from operations, $m
  -28
  -41
  -54
  -73
  -99
  -134
  -179
  -234
  -303
  -385
  -482
  -594
  -722
  -867
  -1,028
  -1,206
  -1,400
  -1,609
  -1,835
  -2,075
  -2,331
  -2,601
  -2,885
  -3,184
  -3,496
  -3,822
  -4,162
  -4,516
  -4,885
  -5,268
  -5,666
Maintenance CAPEX, $m
  0
  0
  0
  -1
  -1
  -2
  -2
  -3
  -4
  -6
  -7
  -9
  -11
  -14
  -16
  -19
  -23
  -27
  -31
  -35
  -40
  -45
  -50
  -55
  -61
  -67
  -73
  -80
  -87
  -94
  -101
New CAPEX, $m
  0
  -1
  -1
  -2
  -3
  -3
  -4
  -5
  -7
  -8
  -9
  -11
  -12
  -14
  -16
  -17
  -19
  -20
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -34
  -36
  -37
  -38
Cash from investing activities, $m
  0
  -1
  -1
  -3
  -4
  -5
  -6
  -8
  -11
  -14
  -16
  -20
  -23
  -28
  -32
  -36
  -42
  -47
  -53
  -58
  -65
  -71
  -77
  -84
  -91
  -98
  -106
  -114
  -123
  -131
  -139
Free cash flow, $m
  -28
  -42
  -55
  -76
  -103
  -139
  -185
  -243
  -313
  -398
  -498
  -614
  -746
  -895
  -1,060
  -1,243
  -1,441
  -1,656
  -1,887
  -2,134
  -2,395
  -2,672
  -2,962
  -3,268
  -3,587
  -3,921
  -4,268
  -4,630
  -5,007
  -5,399
  -5,806
Issuance/(repayment) of debt, $m
  19
  -4
  6
  9
  12
  16
  20
  26
  31
  38
  45
  52
  59
  67
  75
  82
  90
  97
  104
  111
  118
  125
  132
  138
  145
  151
  158
  164
  171
  178
  185
Issuance/(repurchase) of shares, $m
  15
  50
  54
  74
  101
  136
  181
  238
  307
  391
  489
  604
  734
  882
  1,046
  1,227
  1,424
  1,637
  1,867
  2,112
  2,372
  2,647
  2,937
  3,241
  3,559
  3,891
  4,238
  4,598
  4,974
  5,364
  5,770
Cash from financing (excl. dividends), $m  
  34
  46
  60
  83
  113
  152
  201
  264
  338
  429
  534
  656
  793
  949
  1,121
  1,309
  1,514
  1,734
  1,971
  2,223
  2,490
  2,772
  3,069
  3,379
  3,704
  4,042
  4,396
  4,762
  5,145
  5,542
  5,955
Total cash flow (excl. dividends), $m
  6
  3
  5
  7
  10
  13
  16
  21
  25
  30
  36
  42
  48
  54
  60
  66
  72
  78
  84
  90
  95
  101
  106
  111
  117
  122
  127
  132
  137
  143
  149
Retained Cash Flow (-), $m
  13
  -50
  -54
  -74
  -101
  -136
  -181
  -238
  -307
  -391
  -489
  -604
  -734
  -882
  -1,046
  -1,227
  -1,424
  -1,637
  -1,867
  -2,112
  -2,372
  -2,647
  -2,937
  -3,241
  -3,559
  -3,891
  -4,238
  -4,598
  -4,974
  -5,364
  -5,770
Prev. year cash balance distribution, $m
 
  16
  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
 
  -30
  -49
  -67
  -91
  -123
  -165
  -217
  -282
  -360
  -453
  -562
  -687
  -828
  -986
  -1,160
  -1,352
  -1,559
  -1,783
  -2,022
  -2,277
  -2,546
  -2,831
  -3,129
  -3,442
  -3,769
  -4,111
  -4,466
  -4,836
  -5,221
  -5,621
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
 
  -29
  -45
  -58
  -75
  -95
  -120
  -147
  -176
  -207
  -238
  -267
  -293
  -315
  -331
  -341
  -343
  -339
  -328
  -311
  -289
  -263
  -235
  -205
  -175
  -147
  -120
  -96
  -75
  -57
  -42
Current shareholders' claim on cash, %
  100
  50.0
  3.3
  0.2
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

ReWalk Robotics Ltd. is a medical device company. The Company is engaged in designing, developing and commercializing exoskeletons that allow individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The Company offers ReWalk, which is an exoskeleton that uses its tilt-sensor technology and an on-board computer and motion sensors to drive motorized legs that power movement. ReWalk designs are intended for people with paraplegia, a spinal cord injury resulting in complete or incomplete paralysis of the legs, having the use of their upper bodies and arms. The Company offers two ReWalk products: ReWalk Personal and ReWalk Rehabilitation. ReWalk Personal is designed for everyday use by paraplegic individuals at home and in their communities, and is custom fitted for each user. ReWalk Rehabilitation is designed for use by paraplegia patients in the clinical rehabilitation environment, where it provides exercise and therapy.

FINANCIAL RATIOS  of  ReWalk Robotics (RWLK)

Valuation Ratios
P/E Ratio -0.5
Price to Sales 3
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow -0.6
Price to Free Cash Flow -0.6
Growth Rates
Sales Growth Rate 50%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -100%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 125%
Total Debt to Equity 225%
Interest Coverage -32
Management Effectiveness
Return On Assets -110.3%
Ret/ On Assets - 3 Yr. Avg. -84.2%
Return On Total Capital -140.4%
Ret/ On T. Cap. - 3 Yr. Avg. -101.8%
Return On Equity -227.6%
Return On Equity - 3 Yr. Avg. -130.8%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 16.7%
Gross Margin - 3 Yr. Avg. -2.8%
EBITDA Margin -516.7%
EBITDA Margin - 3 Yr. Avg. -563.9%
Operating Margin -500%
Oper. Margin - 3 Yr. Avg. -541.7%
Pre-Tax Margin -550%
Pre-Tax Margin - 3 Yr. Avg. -575%
Net Profit Margin -550%
Net Profit Margin - 3 Yr. Avg. -575%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

RWLK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RWLK stock intrinsic value calculation we used $6 million for the last fiscal year's total revenue generated by ReWalk Robotics. The default revenue input number comes from 2016 income statement of ReWalk Robotics. 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 RWLK 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 RWLK is calculated based on our internal credit rating of ReWalk Robotics, 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 ReWalk Robotics.
    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 RWLK stock the variable cost ratio is equal to 350%.

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 RWLK 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 11.1% for ReWalk Robotics.

Corporate tax rate of 27% is the nominal tax rate for ReWalk Robotics. 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 RWLK 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 RWLK are equal to 25%.

Life of production assets of 1.5 years is the average useful life of capital assets used in ReWalk Robotics 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 RWLK is equal to 16.7%. 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 - $8 million for ReWalk Robotics - 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 21.747 million for ReWalk Robotics 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 ReWalk Robotics at the current share price and the inputted number of shares is $0.0 billion.

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COMPANY NEWS

▶ 4 Stocks to Buy at Their 52-Week Lows   [Nov-28-17 04:53PM  Zacks]
▶ 5 Breakout Stocks Offering Admirable Returns   [Nov-14-17 09:16AM  Zacks]
▶ ReWalk reports 3Q loss   [Nov-03-17 10:11AM  Associated Press]
▶ ReWalk Robotics Ltd. to Host Earnings Call   [Nov-02-17 07:00AM  ACCESSWIRE]
▶ Exoskeletons explained   [Oct-27-17 07:39AM  Reuters]
▶ ReWalk Robotics Launches Public Offering of Ordinary Shares   [Oct-17-17 07:45AM  GlobeNewswire]
▶ When Will ReWalk Robotics Ltd (RWLK) Come Back To Market?   [Oct-05-17 12:36PM  Simply Wall St.]
▶ Payer Coverage for ReWalk Expands in Germany with Barmer   [Sep-14-17 08:03AM  PR Newswire]
▶ ReWalk reports 2Q loss   [Aug-03-17 10:43AM  Associated Press]
▶ ReWalk Unveils Soft Suit Exoskeleton for Stroke Patients   [Jun-19-17 08:30AM  PR Newswire]
▶ ReWalk reports 1Q loss   [May-04-17 09:31AM  Associated Press]
Financial statements of RWLK
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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