Intrinsic value of Rexnord - RXN

Previous Close

$23.66

  Intrinsic Value

$23.23

stock screener

  Rating & Target

hold

-2%

  Value-price divergence*

+28%

Previous close

$23.66

 
Intrinsic value

$23.23

 
Up/down potential

-2%

 
Rating

hold

 
Value-price divergence*

+28%

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

We calculate the intrinsic value of RXN 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 2.4

 

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, %
  -0.31
  2.20
  2.48
  2.73
  2.96
  3.16
  3.35
  3.51
  3.66
  3.79
  3.92
  4.02
  4.12
  4.21
  4.29
  4.36
  4.42
  4.48
  4.53
  4.58
  4.62
  4.66
  4.69
  4.72
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
Revenue, $m
  1,918
  1,960
  2,009
  2,064
  2,125
  2,192
  2,265
  2,345
  2,431
  2,523
  2,622
  2,727
  2,840
  2,959
  3,086
  3,221
  3,363
  3,514
  3,673
  3,841
  4,019
  4,206
  4,403
  4,611
  4,831
  5,061
  5,304
  5,560
  5,829
  6,112
  6,409
Variable operating expenses, $m
 
  1,781
  1,822
  1,868
  1,919
  1,976
  2,038
  2,104
  2,177
  2,254
  2,337
  2,294
  2,389
  2,489
  2,596
  2,709
  2,829
  2,956
  3,090
  3,232
  3,381
  3,538
  3,705
  3,880
  4,064
  4,258
  4,462
  4,677
  4,904
  5,142
  5,392
Fixed operating expenses, $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
Total operating expenses, $m
  1,742
  1,781
  1,822
  1,868
  1,919
  1,976
  2,038
  2,104
  2,177
  2,254
  2,337
  2,294
  2,389
  2,489
  2,596
  2,709
  2,829
  2,956
  3,090
  3,232
  3,381
  3,538
  3,705
  3,880
  4,064
  4,258
  4,462
  4,677
  4,904
  5,142
  5,392
Operating income, $m
  176
  179
  187
  196
  205
  216
  228
  240
  254
  269
  284
  433
  451
  470
  490
  511
  534
  558
  583
  610
  638
  668
  699
  732
  767
  803
  842
  882
  925
  970
  1,017
EBITDA, $m
  281
  357
  366
  376
  387
  399
  413
  427
  443
  460
  478
  497
  517
  539
  562
  587
  613
  640
  669
  700
  732
  766
  802
  840
  880
  922
  966
  1,013
  1,062
  1,113
  1,168
Interest expense (income), $m
  85
  77
  80
  83
  86
  90
  94
  98
  103
  109
  114
  120
  127
  134
  141
  149
  157
  166
  175
  185
  195
  206
  217
  230
  242
  256
  270
  285
  301
  317
  334
Earnings before tax, $m
  82
  102
  107
  113
  119
  126
  134
  142
  151
  160
  170
  313
  324
  336
  349
  362
  377
  392
  408
  425
  443
  462
  481
  502
  524
  548
  572
  598
  625
  653
  683
Tax expense, $m
  8
  28
  29
  31
  32
  34
  36
  38
  41
  43
  46
  84
  87
  91
  94
  98
  102
  106
  110
  115
  120
  125
  130
  136
  142
  148
  154
  161
  169
  176
  184
Net income, $m
  74
  75
  78
  83
  87
  92
  98
  104
  110
  117
  124
  228
  236
  245
  255
  265
  275
  286
  298
  310
  323
  337
  351
  367
  383
  400
  417
  436
  456
  477
  498

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  490
  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
  3,539
  3,116
  3,194
  3,281
  3,378
  3,485
  3,601
  3,728
  3,864
  4,011
  4,168
  4,336
  4,514
  4,705
  4,906
  5,120
  5,347
  5,586
  5,839
  6,107
  6,389
  6,687
  7,001
  7,331
  7,680
  8,047
  8,433
  8,839
  9,267
  9,716
  10,190
Adjusted assets (=assets-cash), $m
  3,049
  3,116
  3,194
  3,281
  3,378
  3,485
  3,601
  3,728
  3,864
  4,011
  4,168
  4,336
  4,514
  4,705
  4,906
  5,120
  5,347
  5,586
  5,839
  6,107
  6,389
  6,687
  7,001
  7,331
  7,680
  8,047
  8,433
  8,839
  9,267
  9,716
  10,190
Revenue / Adjusted assets
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
Average production assets, $m
  939
  960
  984
  1,011
  1,041
  1,074
  1,110
  1,149
  1,191
  1,236
  1,285
  1,336
  1,391
  1,450
  1,512
  1,578
  1,648
  1,722
  1,800
  1,882
  1,969
  2,061
  2,158
  2,260
  2,367
  2,480
  2,599
  2,724
  2,856
  2,995
  3,141
Working capital, $m
  778
  312
  319
  328
  338
  349
  360
  373
  386
  401
  417
  434
  451
  471
  491
  512
  535
  559
  584
  611
  639
  669
  700
  733
  768
  805
  843
  884
  927
  972
  1,019
Total debt, $m
  1,623
  1,661
  1,723
  1,793
  1,871
  1,957
  2,051
  2,152
  2,262
  2,380
  2,506
  2,641
  2,785
  2,937
  3,100
  3,272
  3,454
  3,646
  3,850
  4,065
  4,292
  4,531
  4,784
  5,049
  5,330
  5,624
  5,935
  6,262
  6,605
  6,967
  7,347
Total liabilities, $m
  2,469
  2,506
  2,568
  2,638
  2,716
  2,802
  2,896
  2,997
  3,107
  3,225
  3,351
  3,486
  3,630
  3,782
  3,945
  4,117
  4,299
  4,491
  4,695
  4,910
  5,137
  5,376
  5,629
  5,894
  6,175
  6,469
  6,780
  7,107
  7,450
  7,812
  8,192
Total equity, $m
  1,071
  611
  626
  643
  662
  683
  706
  731
  757
  786
  817
  850
  885
  922
  962
  1,004
  1,048
  1,095
  1,145
  1,197
  1,252
  1,311
  1,372
  1,437
  1,505
  1,577
  1,653
  1,732
  1,816
  1,904
  1,997
Total liabilities and equity, $m
  3,540
  3,117
  3,194
  3,281
  3,378
  3,485
  3,602
  3,728
  3,864
  4,011
  4,168
  4,336
  4,515
  4,704
  4,907
  5,121
  5,347
  5,586
  5,840
  6,107
  6,389
  6,687
  7,001
  7,331
  7,680
  8,046
  8,433
  8,839
  9,266
  9,716
  10,189
Debt-to-equity ratio
  1.515
  2.720
  2.750
  2.790
  2.830
  2.860
  2.900
  2.950
  2.990
  3.030
  3.070
  3.110
  3.150
  3.190
  3.220
  3.260
  3.300
  3.330
  3.360
  3.400
  3.430
  3.460
  3.490
  3.510
  3.540
  3.570
  3.590
  3.610
  3.640
  3.660
  3.680
Adjusted equity ratio
  0.191
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196
  0.196

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  74
  75
  78
  83
  87
  92
  98
  104
  110
  117
  124
  228
  236
  245
  255
  265
  275
  286
  298
  310
  323
  337
  351
  367
  383
  400
  417
  436
  456
  477
  498
Depreciation, amort., depletion, $m
  105
  178
  179
  180
  182
  183
  185
  187
  189
  191
  193
  64
  67
  69
  72
  76
  79
  82
  86
  90
  94
  99
  103
  108
  113
  119
  124
  130
  137
  143
  150
Funds from operations, $m
  207
  252
  257
  263
  269
  275
  283
  290
  299
  308
  317
  292
  303
  315
  327
  340
  354
  368
  384
  400
  417
  436
  455
  475
  496
  518
  542
  567
  593
  620
  649
Change in working capital, $m
  12
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  20
  21
  23
  24
  25
  27
  28
  30
  31
  33
  35
  37
  39
  41
  43
  45
  47
Cash from operations, $m
  195
  246
  250
  254
  259
  265
  271
  278
  285
  293
  302
  275
  285
  296
  307
  319
  331
  345
  359
  373
  389
  406
  423
  442
  461
  482
  503
  526
  550
  575
  601
Maintenance CAPEX, $m
  0
  -45
  -46
  -47
  -48
  -50
  -51
  -53
  -55
  -57
  -59
  -61
  -64
  -67
  -69
  -72
  -76
  -79
  -82
  -86
  -90
  -94
  -99
  -103
  -108
  -113
  -119
  -124
  -130
  -137
  -143
New CAPEX, $m
  -55
  -21
  -24
  -27
  -30
  -33
  -36
  -39
  -42
  -45
  -48
  -52
  -55
  -59
  -62
  -66
  -70
  -74
  -78
  -82
  -87
  -92
  -97
  -102
  -107
  -113
  -119
  -125
  -132
  -139
  -146
Cash from investing activities, $m
  -264
  -66
  -70
  -74
  -78
  -83
  -87
  -92
  -97
  -102
  -107
  -113
  -119
  -126
  -131
  -138
  -146
  -153
  -160
  -168
  -177
  -186
  -196
  -205
  -215
  -226
  -238
  -249
  -262
  -276
  -289
Free cash flow, $m
  -69
  179
  180
  180
  181
  182
  184
  186
  188
  191
  194
  162
  166
  171
  175
  180
  186
  192
  198
  205
  212
  220
  228
  237
  246
  255
  266
  276
  288
  300
  312
Issuance/(repayment) of debt, $m
  -299
  55
  62
  70
  78
  86
  94
  102
  110
  118
  126
  135
  144
  153
  162
  172
  182
  193
  204
  215
  227
  239
  252
  266
  280
  295
  310
  327
  344
  362
  380
Issuance/(repurchase) of shares, $m
  401
  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  
  84
  55
  62
  70
  78
  86
  94
  102
  110
  118
  126
  135
  144
  153
  162
  172
  182
  193
  204
  215
  227
  239
  252
  266
  280
  295
  310
  327
  344
  362
  380
Total cash flow (excl. dividends), $m
  10
  234
  242
  250
  259
  268
  277
  287
  298
  309
  320
  297
  310
  323
  337
  352
  368
  384
  402
  420
  439
  459
  480
  502
  526
  550
  576
  603
  631
  661
  693
Retained Cash Flow (-), $m
  -482
  -13
  -15
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -37
  -40
  -42
  -44
  -47
  -50
  -52
  -55
  -58
  -62
  -65
  -68
  -72
  -76
  -80
  -84
  -88
  -93
Prev. year cash balance distribution, $m
 
  473
  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
 
  694
  227
  233
  240
  247
  255
  263
  271
  280
  290
  264
  275
  286
  298
  310
  324
  337
  352
  368
  384
  401
  419
  438
  457
  478
  500
  523
  548
  573
  600
Discount rate, %
 
  7.70
  8.09
  8.49
  8.91
  9.36
  9.83
  10.32
  10.83
  11.38
  11.95
  12.54
  13.17
  13.83
  14.52
  15.25
  16.01
  16.81
  17.65
  18.53
  19.46
  20.43
  21.45
  22.52
  23.65
  24.83
  26.07
  27.38
  28.75
  30.18
  31.69
PV of cash for distribution, $m
 
  644
  194
  183
  170
  158
  145
  132
  119
  106
  94
  72
  62
  53
  45
  37
  30
  24
  19
  15
  11
  8
  6
  4
  3
  2
  1
  1
  0
  0
  0
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

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. The Process & Motion Control Platform segment designs, manufactures, markets, and services engineered mechanical components used in complex systems. It offers table top conveying chain and related accessories, gearing and gear drives, conveying equipment, industrial chains, and custom assemblies; shaft management products; assemblies; and aerospace components, specialized gears, and related products. The company offers its products under Rexnord, Rex, Addax, Euroflex, Falk, FlatTop, Link-Belt, Omega, PSI, Shafer, Stearns, Thomas, and Tollok brand names. This segment offers its products through distributors to food and beverage, aerospace, mining, petrochemical, energy and power generation, cement and aggregates, forest and wood products, agriculture, and general industrial and automation applications. The Water Management Platform segment designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control, and conservation. It offers valve products, engineered water distribution solutions, specification drainage products, and site works products; water conservation products; and water and wastewater infrastructure products. The company offers its products under Zurn, Wilkins, VAG, Green Turtle, GA, Aquaflush, AquaSense, AquaVantage, AquaSpec, EcoVantage, and Zurn One brand names. This segment sells its products through independent sales representatives, plumbing wholesalers, sales agencies, and direct sales and marketing associates to customers in the commercial construction, institutional, infrastructure, and residential construction end markets in 49 countries. Rexnord Corporation was incorporated in 2006 and is based in Milwaukee, Wisconsin.

FINANCIAL RATIOS  of  Rexnord (RXN)

Valuation Ratios
P/E Ratio 33.1
Price to Sales 1.3
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 12.6
Price to Free Cash Flow 17.5
Growth Rates
Sales Growth Rate -0.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 5.8%
Cap. Spend. - 3 Yr. Gr. Rate 1.1%
Financial Strength
Quick Ratio 29
Current Ratio 0.1
LT Debt to Equity 150%
Total Debt to Equity 151.5%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.4%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 2.8%
Ret/ On T. Cap. - 3 Yr. Avg. 3%
Return On Equity 8.9%
Return On Equity - 3 Yr. Avg. 12%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 34.8%
Gross Margin - 3 Yr. Avg. 35.3%
EBITDA Margin 14.2%
EBITDA Margin - 3 Yr. Avg. 14.7%
Operating Margin 9.2%
Oper. Margin - 3 Yr. Avg. 9.4%
Pre-Tax Margin 4.3%
Pre-Tax Margin - 3 Yr. Avg. 4.7%
Net Profit Margin 3.9%
Net Profit Margin - 3 Yr. Avg. 3.8%
Effective Tax Rate 9.8%
Eff/ Tax Rate - 3 Yr. Avg. 15%
Payout Ratio 5.4%

RXN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RXN stock intrinsic value calculation we used $1918 million for the last fiscal year's total revenue generated by Rexnord. The default revenue input number comes from 2017 income statement of Rexnord. 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 RXN stock valuation model: a) initial revenue growth rate of 2.2% 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 7.7%, whose default value for RXN is calculated based on our internal credit rating of Rexnord, 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 Rexnord.
    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 RXN stock the variable cost ratio is equal to 91%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RXN 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 4.8% for Rexnord.

Corporate tax rate of 27% is the nominal tax rate for Rexnord. 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 RXN 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 RXN are equal to 49%.

Life of production assets of 20.9 years is the average useful life of capital assets used in Rexnord 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 RXN is equal to 15.9%. 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 - $1071 million for Rexnord - 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 100.651 million for Rexnord 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 Rexnord at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ Rexnord tops Street 1Q forecasts   [Aug-02-17 11:17PM  Associated Press]
▶ Rexnord Corp. Value Analysis (NYSE:RXN) : July 25, 2017   [Jul-25-17 02:28PM  Capital Cube]
▶ ETFs with exposure to Rexnord Corp. : July 24, 2017   [Jul-24-17 06:58PM  Capital Cube]
▶ ETFs with exposure to Rexnord Corp. : July 14, 2017   [Jul-14-17 04:41PM  Capital Cube]
▶ ETFs with exposure to Rexnord Corp. : June 26, 2017   [Jun-26-17 04:49PM  Capital Cube]
▶ ETFs with exposure to Rexnord Corp. : June 15, 2017   [Jun-15-17 03:12PM  Capital Cube]
▶ Rexnord beats Street 4Q forecasts   [May-17-17 04:28PM  Associated Press]
▶ Rexnord Stock Falls After Trump Twitter Attack   [May-08-17 11:47AM  TheStreet.com]
▶ Rexnord Corp. Value Analysis (NYSE:RXN) : April 26, 2017   [Apr-26-17 04:31PM  Capital Cube]
▶ ETFs with exposure to Rexnord Corp. : April 5, 2017   [Apr-05-17 05:24PM  Capital Cube]
▶ 6 Stocks on the Move With Unusual Volume   [Feb-28-17 10:40AM  TheStreet.com]
▶ Badger Meter adds two Wisconsin manufacturing CEOs to board   [Feb-10-17 03:40PM  at bizjournals.com]
▶ [$$] Companies Plow Ahead With Moves to Mexico, Despite Trump's Pressure   [Feb-08-17 04:09PM  at The Wall Street Journal]
▶ Stocks Surging Into Major Resistance   [01:00PM  at Investopedia]
▶ Top 5 Milwaukee-area manufacturing stories of 2016   [Dec-28-16 11:49AM  at bizjournals.com]
▶ [$$] Indiana Firm Rexnord Signals Move to Mexico Despite Trump Criticism   [Dec-16-16 11:09PM  at The Wall Street Journal]
▶ Rexnord plant-closing efforts continue, despite Trump tweet   [Dec-07-16 10:46PM  at bizjournals.com]
▶ Rexnord Inches Lower After Trump Tweets   [11:15AM  at The Wall Street Journal]
▶ [$$] Trump Warns Another U.S. Company   [09:40AM  at The Wall Street Journal]
Stock chart of RXN Financial statements of RXN
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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