Intrinsic value of Spirit Airlines - SAVE

Previous Close

$36.39

  Intrinsic Value

$224.35

stock screener

  Rating & Target

str. buy

+517%

Previous close

$36.39

 
Intrinsic value

$224.35

 
Up/down potential

+517%

 
Rating

str. buy

We calculate the intrinsic value of SAVE 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 2.5

 

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, %
  8.45
  20.20
  18.68
  17.31
  16.08
  14.97
  13.98
  13.08
  12.27
  11.54
  10.89
  10.30
  9.77
  9.29
  8.86
  8.48
  8.13
  7.82
  7.53
  7.28
  7.05
  6.85
  6.66
  6.50
  6.35
  6.21
  6.09
  5.98
  5.88
  5.80
  5.72
Revenue, $m
  2,322
  2,791
  3,312
  3,886
  4,511
  5,186
  5,911
  6,684
  7,504
  8,370
  9,282
  10,238
  11,238
  12,282
  13,371
  14,504
  15,683
  16,909
  18,183
  19,508
  20,883
  22,314
  23,800
  25,347
  26,955
  28,630
  30,374
  32,191
  34,085
  36,060
  38,121
Variable operating expenses, $m
 
  2,127
  2,524
  2,961
  3,437
  3,952
  4,504
  5,093
  5,718
  6,378
  7,073
  7,801
  8,563
  9,359
  10,189
  11,052
  11,951
  12,885
  13,856
  14,865
  15,913
  17,003
  18,136
  19,314
  20,540
  21,816
  23,145
  24,529
  25,973
  27,478
  29,049
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
  1,878
  2,127
  2,524
  2,961
  3,437
  3,952
  4,504
  5,093
  5,718
  6,378
  7,073
  7,801
  8,563
  9,359
  10,189
  11,052
  11,951
  12,885
  13,856
  14,865
  15,913
  17,003
  18,136
  19,314
  20,540
  21,816
  23,145
  24,529
  25,973
  27,478
  29,049
Operating income, $m
  444
  664
  788
  925
  1,074
  1,234
  1,407
  1,591
  1,786
  1,992
  2,209
  2,437
  2,675
  2,923
  3,182
  3,452
  3,733
  4,024
  4,328
  4,643
  4,970
  5,311
  5,664
  6,032
  6,415
  6,814
  7,229
  7,661
  8,112
  8,582
  9,073
EBITDA, $m
  545
  786
  933
  1,094
  1,270
  1,460
  1,664
  1,882
  2,113
  2,357
  2,614
  2,883
  3,165
  3,459
  3,765
  4,084
  4,416
  4,762
  5,120
  5,493
  5,881
  6,283
  6,702
  7,138
  7,591
  8,062
  8,553
  9,065
  9,598
  10,154
  10,735
Interest expense (income), $m
  40
  44
  61
  79
  99
  121
  145
  171
  198
  227
  258
  290
  324
  359
  396
  434
  474
  516
  559
  604
  651
  699
  750
  802
  857
  914
  973
  1,035
  1,099
  1,166
  1,235
Earnings before tax, $m
  419
  620
  728
  846
  974
  1,113
  1,262
  1,420
  1,588
  1,765
  1,951
  2,147
  2,351
  2,564
  2,787
  3,018
  3,258
  3,509
  3,769
  4,039
  4,319
  4,611
  4,915
  5,230
  5,558
  5,900
  6,256
  6,627
  7,013
  7,417
  7,838
Tax expense, $m
  154
  167
  196
  228
  263
  301
  341
  383
  429
  477
  527
  580
  635
  692
  752
  815
  880
  947
  1,018
  1,090
  1,166
  1,245
  1,327
  1,412
  1,501
  1,593
  1,689
  1,789
  1,894
  2,003
  2,116
Net income, $m
  265
  453
  531
  617
  711
  812
  921
  1,037
  1,159
  1,289
  1,425
  1,567
  1,716
  1,872
  2,034
  2,203
  2,379
  2,561
  2,751
  2,948
  3,153
  3,366
  3,588
  3,818
  4,058
  4,307
  4,567
  4,838
  5,120
  5,414
  5,721

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  801
  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
  3,152
  2,825
  3,353
  3,933
  4,566
  5,249
  5,983
  6,765
  7,595
  8,472
  9,394
  10,362
  11,374
  12,431
  13,533
  14,680
  15,874
  17,115
  18,404
  19,744
  21,137
  22,585
  24,089
  25,654
  27,283
  28,978
  30,743
  32,582
  34,499
  36,498
  38,585
Adjusted assets (=assets-cash), $m
  2,351
  2,825
  3,353
  3,933
  4,566
  5,249
  5,983
  6,765
  7,595
  8,472
  9,394
  10,362
  11,374
  12,431
  13,533
  14,680
  15,874
  17,115
  18,404
  19,744
  21,137
  22,585
  24,089
  25,654
  27,283
  28,978
  30,743
  32,582
  34,499
  36,498
  38,585
Revenue / Adjusted assets
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
  0.988
Average production assets, $m
  1,155
  1,387
  1,646
  1,931
  2,242
  2,577
  2,938
  3,322
  3,730
  4,160
  4,613
  5,088
  5,585
  6,104
  6,645
  7,209
  7,795
  8,404
  9,037
  9,695
  10,379
  11,090
  11,829
  12,597
  13,397
  14,229
  15,096
  15,999
  16,940
  17,922
  18,946
Working capital, $m
  444
  -329
  -391
  -459
  -532
  -612
  -697
  -789
  -885
  -988
  -1,095
  -1,208
  -1,326
  -1,449
  -1,578
  -1,712
  -1,851
  -1,995
  -2,146
  -2,302
  -2,464
  -2,633
  -2,808
  -2,991
  -3,181
  -3,378
  -3,584
  -3,799
  -4,022
  -4,255
  -4,498
Total debt, $m
  982
  1,236
  1,612
  2,025
  2,476
  2,962
  3,485
  4,042
  4,633
  5,257
  5,914
  6,603
  7,324
  8,076
  8,861
  9,678
  10,527
  11,411
  12,329
  13,283
  14,275
  15,305
  16,377
  17,491
  18,650
  19,857
  21,114
  22,423
  23,788
  25,212
  26,697
Total liabilities, $m
  1,757
  2,011
  2,387
  2,800
  3,251
  3,737
  4,260
  4,817
  5,408
  6,032
  6,689
  7,378
  8,099
  8,851
  9,636
  10,453
  11,302
  12,186
  13,104
  14,058
  15,050
  16,080
  17,152
  18,266
  19,425
  20,632
  21,889
  23,198
  24,563
  25,987
  27,472
Total equity, $m
  1,395
  814
  966
  1,133
  1,315
  1,512
  1,723
  1,948
  2,187
  2,440
  2,706
  2,984
  3,276
  3,580
  3,898
  4,228
  4,572
  4,929
  5,300
  5,686
  6,087
  6,504
  6,938
  7,388
  7,857
  8,346
  8,854
  9,384
  9,936
  10,512
  11,112
Total liabilities and equity, $m
  3,152
  2,825
  3,353
  3,933
  4,566
  5,249
  5,983
  6,765
  7,595
  8,472
  9,395
  10,362
  11,375
  12,431
  13,534
  14,681
  15,874
  17,115
  18,404
  19,744
  21,137
  22,584
  24,090
  25,654
  27,282
  28,978
  30,743
  32,582
  34,499
  36,499
  38,584
Debt-to-equity ratio
  0.704
  1.520
  1.670
  1.790
  1.880
  1.960
  2.020
  2.070
  2.120
  2.150
  2.190
  2.210
  2.240
  2.260
  2.270
  2.290
  2.300
  2.310
  2.330
  2.340
  2.340
  2.350
  2.360
  2.370
  2.370
  2.380
  2.380
  2.390
  2.390
  2.400
  2.400
Adjusted equity ratio
  0.253
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288
  0.288

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  265
  453
  531
  617
  711
  812
  921
  1,037
  1,159
  1,289
  1,425
  1,567
  1,716
  1,872
  2,034
  2,203
  2,379
  2,561
  2,751
  2,948
  3,153
  3,366
  3,588
  3,818
  4,058
  4,307
  4,567
  4,838
  5,120
  5,414
  5,721
Depreciation, amort., depletion, $m
  101
  122
  144
  169
  197
  226
  258
  291
  327
  365
  405
  446
  490
  535
  583
  632
  684
  737
  793
  850
  910
  973
  1,038
  1,105
  1,175
  1,248
  1,324
  1,403
  1,486
  1,572
  1,662
Funds from operations, $m
  441
  574
  676
  787
  908
  1,039
  1,179
  1,328
  1,486
  1,653
  1,829
  2,013
  2,206
  2,407
  2,617
  2,835
  3,062
  3,298
  3,544
  3,799
  4,064
  4,339
  4,625
  4,923
  5,233
  5,555
  5,891
  6,241
  6,606
  6,986
  7,383
Change in working capital, $m
  -33
  -55
  -62
  -68
  -74
  -80
  -86
  -91
  -97
  -102
  -108
  -113
  -118
  -123
  -128
  -134
  -139
  -145
  -150
  -156
  -162
  -169
  -175
  -182
  -190
  -198
  -206
  -214
  -224
  -233
  -243
Cash from operations, $m
  474
  630
  737
  855
  982
  1,118
  1,264
  1,419
  1,583
  1,756
  1,937
  2,126
  2,324
  2,531
  2,746
  2,969
  3,202
  3,443
  3,694
  3,955
  4,226
  4,508
  4,801
  5,105
  5,423
  5,753
  6,097
  6,455
  6,829
  7,219
  7,627
Maintenance CAPEX, $m
  0
  -101
  -122
  -144
  -169
  -197
  -226
  -258
  -291
  -327
  -365
  -405
  -446
  -490
  -535
  -583
  -632
  -684
  -737
  -793
  -850
  -910
  -973
  -1,038
  -1,105
  -1,175
  -1,248
  -1,324
  -1,403
  -1,486
  -1,572
New CAPEX, $m
  -541
  -233
  -259
  -285
  -311
  -336
  -360
  -384
  -408
  -431
  -453
  -475
  -497
  -519
  -541
  -563
  -586
  -609
  -633
  -658
  -684
  -711
  -739
  -768
  -800
  -832
  -867
  -903
  -941
  -982
  -1,024
Cash from investing activities, $m
  -826
  -334
  -381
  -429
  -480
  -533
  -586
  -642
  -699
  -758
  -818
  -880
  -943
  -1,009
  -1,076
  -1,146
  -1,218
  -1,293
  -1,370
  -1,451
  -1,534
  -1,621
  -1,712
  -1,806
  -1,905
  -2,007
  -2,115
  -2,227
  -2,344
  -2,468
  -2,596
Free cash flow, $m
  -352
  296
  356
  425
  502
  586
  678
  777
  884
  998
  1,119
  1,247
  1,381
  1,522
  1,669
  1,823
  1,983
  2,150
  2,324
  2,504
  2,692
  2,886
  3,089
  3,299
  3,518
  3,745
  3,982
  4,228
  4,485
  4,752
  5,030
Issuance/(repayment) of debt, $m
  353
  338
  376
  413
  450
  487
  522
  557
  591
  624
  657
  689
  721
  753
  785
  817
  850
  883
  918
  954
  992
  1,031
  1,071
  1,114
  1,159
  1,207
  1,257
  1,309
  1,365
  1,424
  1,485
Issuance/(repurchase) of shares, $m
  -102
  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  
  250
  338
  376
  413
  450
  487
  522
  557
  591
  624
  657
  689
  721
  753
  785
  817
  850
  883
  918
  954
  992
  1,031
  1,071
  1,114
  1,159
  1,207
  1,257
  1,309
  1,365
  1,424
  1,485
Total cash flow (excl. dividends), $m
  -103
  634
  732
  838
  952
  1,073
  1,200
  1,334
  1,475
  1,622
  1,776
  1,935
  2,102
  2,274
  2,454
  2,640
  2,833
  3,034
  3,242
  3,458
  3,683
  3,917
  4,160
  4,414
  4,677
  4,952
  5,239
  5,538
  5,850
  6,175
  6,515
Retained Cash Flow (-), $m
  -170
  -136
  -152
  -167
  -182
  -197
  -211
  -225
  -239
  -252
  -266
  -279
  -292
  -304
  -317
  -330
  -344
  -357
  -371
  -386
  -401
  -417
  -433
  -451
  -469
  -488
  -508
  -530
  -552
  -576
  -601
Prev. year cash balance distribution, $m
 
  717
  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
 
  1,216
  580
  671
  770
  876
  989
  1,109
  1,236
  1,370
  1,510
  1,657
  1,810
  1,970
  2,136
  2,309
  2,489
  2,676
  2,870
  3,072
  3,282
  3,500
  3,727
  3,963
  4,208
  4,464
  4,730
  5,008
  5,297
  5,599
  5,915
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
 
  1,166
  531
  584
  634
  679
  718
  749
  773
  787
  792
  787
  772
  749
  717
  678
  633
  582
  529
  473
  417
  362
  309
  260
  214
  174
  138
  107
  82
  61
  45
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

Spirit Airlines, Inc. is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity. As of December 31, 2016, its fleet consisted of 29 A319s, 45 A320ceos, five A320neos and 16 A321ceos. Its Bare Fares offerings are unbundled base fares that remove components included in the price of an airline ticket. It also offers Frill Control, which allows customers to pay only for the options they choose, such as bags, advance seat assignments and refreshments. As of December 31, 2016, its route network included 200 markets served by 59 airports.

FINANCIAL RATIOS  of  Spirit Airlines (SAVE)

Valuation Ratios
P/E Ratio 9.5
Price to Sales 1.1
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 5.3
Price to Free Cash Flow -37.7
Growth Rates
Sales Growth Rate 8.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.5%
Cap. Spend. - 3 Yr. Gr. Rate 93.4%
Financial Strength
Quick Ratio 10
Current Ratio 0.2
LT Debt to Equity 64.4%
Total Debt to Equity 70.4%
Interest Coverage 11
Management Effectiveness
Return On Assets 10.2%
Ret/ On Assets - 3 Yr. Avg. 14%
Return On Total Capital 12.5%
Ret/ On T. Cap. - 3 Yr. Avg. 19%
Return On Equity 20.2%
Return On Equity - 3 Yr. Avg. 24.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 40.8%
Gross Margin - 3 Yr. Avg. 38.9%
EBITDA Margin 24.1%
EBITDA Margin - 3 Yr. Avg. 24%
Operating Margin 19.1%
Oper. Margin - 3 Yr. Avg. 20.4%
Pre-Tax Margin 18%
Pre-Tax Margin - 3 Yr. Avg. 19.9%
Net Profit Margin 11.4%
Net Profit Margin - 3 Yr. Avg. 12.6%
Effective Tax Rate 36.8%
Eff/ Tax Rate - 3 Yr. Avg. 36.6%
Payout Ratio 0%

SAVE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SAVE stock intrinsic value calculation we used $2322 million for the last fiscal year's total revenue generated by Spirit Airlines. The default revenue input number comes from 2016 income statement of Spirit Airlines. 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 SAVE stock valuation model: a) initial revenue growth rate of 20.2% 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 4.3%, whose default value for SAVE is calculated based on our internal credit rating of Spirit Airlines, 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 Spirit Airlines.
    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 SAVE stock the variable cost ratio is equal to 76.2%.

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 SAVE 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 4.9% for Spirit Airlines.

Corporate tax rate of 27% is the nominal tax rate for Spirit Airlines. 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 SAVE 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 SAVE are equal to 49.7%.

Life of production assets of 11.4 years is the average useful life of capital assets used in Spirit Airlines 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 SAVE is equal to -11.8%. 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 - $1395 million for Spirit Airlines - 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 69.506 million for Spirit Airlines 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 Spirit Airlines at the current share price and the inputted number of shares is $2.5 billion.

RELATED COMPANIES Price Int.Val. Rating
JBLU JetBlue Airway 19.99 45.02  str.buy
ALGT Allegiant Trav 137.65 367.89  str.buy
LUV Southwest Airl 54.71 93.91  str.buy
DAL Delta Air Line 49.82 236.01  str.buy
AAL American Airli 47.39 52.78  hold
ALK Alaska Air Gro 66.40 1,294.96  str.buy
SKYW Skywest 50.30 18.86  str.sell
UAL United Contine 58.20 200.46  str.buy

COMPANY NEWS

▶ Trump stays firmly out of Alabama-Moore dispute   [Nov-15-17 05:08PM  Associated Press]
▶ Washington GOP boosts pressure on Alabama party on Moore   [Nov-14-17 10:47PM  Associated Press]
▶ Spirit Airlines giving big four domestic carriers reason to worry   [Nov-13-17 04:45PM  American City Business Journals]
▶ 5 of the costliest tweets ever   [Nov-12-17 03:35PM  MarketWatch]
▶ Basic Math Is on Spirit Airlines' Side   [Nov-09-17 04:39PM  Motley Fool]
▶ 4 Top Airline Stocks to Buy Now   [Nov-08-17 09:40PM  Motley Fool]
▶ 1 Airline That Soared in October -- and 2 That Didn't   [Nov-07-17 06:27PM  Motley Fool]
▶ Fiji calls for urgency in talks to implement climate accord   [Nov-06-17 11:15AM  Associated Press]
▶ Newly disclosed Facebook ads show Russia's cyber intrusion   [Nov-01-17 10:10PM  Associated Press]
▶ Senators blast Facebook, Twitter, Google in Russia probe   [Oct-31-17 07:20PM  Associated Press]
▶ Why Southwest Airlines Stock Fell after Its 3Q17 Earnings   [Oct-30-17 10:55AM  Market Realist]
▶ The Latest: Cowboys beat Redskins, Seahawks top Texans   [Oct-29-17 08:17PM  Associated Press]
▶ Why Spirit Airlines Stock Just Jumped 14%   [12:33PM  Motley Fool]
▶ Spirit tops Street 3Q forecasts   [06:41AM  Associated Press]
▶ Latest from NFL: Pats and fog dominate Super Bowl rematch   [Oct-22-17 11:15PM  Associated Press]
▶ Spirit Airlines pilots picket at O'Hare as contract frustration grows   [Oct-20-17 04:14PM  American City Business Journals]
▶ Are Markets In the Calm Before the Storm?   [07:40AM  InvestorPlace]
▶ US-backed forces celebrate fall of IS 'capital,' Raqqa   [Oct-17-17 10:21PM  Associated Press]
▶ Delta Proves the Airline Recovery Is Underway   [Oct-12-17 09:40AM  TheStreet.com]
▶ Will the Ride Get Bumpier for Airline Stocks?   [Oct-06-17 05:46PM  Zacks]
▶ Airlines are soaring: 7 buys   [Oct-03-17 05:00PM  CNBC Videos]
▶ Here's Why Delta, JetBlue And Other Airlines Are Surging Today   [04:05PM  Investor's Business Daily]
▶ Trump says envoy 'wasting his time' talking to North Korea   [Oct-02-17 02:34AM  Associated Press]
▶ Helping Puerto Rico: Here's where and when to donate   [Sep-29-17 11:43AM  Associated Press]
▶ Southwest Airlines Cuts Revenue Guidance In Wake Of Hurricanes, Earthquake   [Sep-28-17 04:04PM  Investor's Business Daily]
Financial statements of SAVE
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.