Intrinsic value of Santander Consumer USA Holdings - SC

Previous Close

$12.84

  Intrinsic Value

$15.16

stock screener

  Rating & Target

hold

+18%

  Value-price divergence*

-81%

Previous close

$12.84

 
Intrinsic value

$15.16

 
Up/down potential

+18%

 
Rating

hold

 
Value-price divergence*

-81%

Our model is not good at valuating stocks of financial companies, such as SC.

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

We calculate the intrinsic value of SC 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 4.5

 

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, %
  7.01
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  7,068
  7,209
  7,375
  7,565
  7,778
  8,013
  8,272
  8,554
  8,859
  9,187
  9,540
  9,917
  10,319
  10,748
  11,203
  11,687
  12,199
  12,741
  13,314
  13,920
  14,560
  15,235
  15,946
  16,697
  17,487
  18,319
  19,196
  20,119
  21,089
  22,111
  23,185
Variable operating expenses, $m
 
  5,803
  5,937
  6,089
  6,260
  6,450
  6,658
  6,884
  7,129
  7,393
  7,677
  7,973
  8,296
  8,641
  9,007
  9,396
  9,807
  10,243
  10,704
  11,191
  11,705
  12,248
  12,820
  13,423
  14,059
  14,728
  15,433
  16,174
  16,955
  17,776
  18,640
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
  5,907
  5,803
  5,937
  6,089
  6,260
  6,450
  6,658
  6,884
  7,129
  7,393
  7,677
  7,973
  8,296
  8,641
  9,007
  9,396
  9,807
  10,243
  10,704
  11,191
  11,705
  12,248
  12,820
  13,423
  14,059
  14,728
  15,433
  16,174
  16,955
  17,776
  18,640
Operating income, $m
  1,161
  1,406
  1,438
  1,476
  1,517
  1,564
  1,614
  1,670
  1,729
  1,794
  1,863
  1,944
  2,023
  2,107
  2,196
  2,291
  2,392
  2,498
  2,610
  2,729
  2,854
  2,987
  3,126
  3,273
  3,428
  3,591
  3,763
  3,944
  4,135
  4,335
  4,545
EBITDA, $m
  2,256
  2,191
  2,242
  2,299
  2,364
  2,436
  2,514
  2,600
  2,693
  2,792
  2,900
  3,014
  3,137
  3,267
  3,405
  3,552
  3,708
  3,873
  4,047
  4,231
  4,425
  4,631
  4,847
  5,075
  5,315
  5,568
  5,835
  6,115
  6,410
  6,720
  7,047
Interest expense (income), $m
  797
  1,096
  1,122
  1,150
  1,181
  1,216
  1,255
  1,298
  1,344
  1,395
  1,449
  1,507
  1,570
  1,636
  1,707
  1,782
  1,862
  1,947
  2,036
  2,131
  2,231
  2,337
  2,448
  2,566
  2,690
  2,820
  2,958
  3,103
  3,255
  3,416
  3,585
Earnings before tax, $m
  1,161
  310
  316
  326
  336
  348
  359
  372
  385
  399
  414
  437
  454
  471
  489
  509
  530
  551
  574
  598
  623
  650
  678
  707
  738
  771
  805
  841
  879
  919
  961
Tax expense, $m
  395
  84
  85
  88
  91
  94
  97
  100
  104
  108
  112
  118
  122
  127
  132
  137
  143
  149
  155
  161
  168
  175
  183
  191
  199
  208
  217
  227
  237
  248
  259
Net income, $m
  766
  226
  231
  238
  246
  254
  262
  271
  281
  291
  302
  319
  331
  344
  357
  372
  387
  402
  419
  437
  455
  474
  495
  516
  539
  563
  588
  614
  642
  671
  701

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  160
  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
  38,539
  39,395
  40,302
  41,337
  42,500
  43,789
  45,202
  46,742
  48,408
  50,203
  52,130
  54,191
  56,391
  58,732
  61,221
  63,862
  66,661
  69,623
  72,756
  76,066
  79,561
  83,249
  87,138
  91,238
  95,557
  100,106
  104,896
  109,937
  115,242
  120,824
  126,694
Adjusted assets (=assets-cash), $m
  38,379
  39,395
  40,302
  41,337
  42,500
  43,789
  45,202
  46,742
  48,408
  50,203
  52,130
  54,191
  56,391
  58,732
  61,221
  63,862
  66,661
  69,623
  72,756
  76,066
  79,561
  83,249
  87,138
  91,238
  95,557
  100,106
  104,896
  109,937
  115,242
  120,824
  126,694
Revenue / Adjusted assets
  0.184
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
Average production assets, $m
  7,627
  7,779
  7,958
  8,162
  8,392
  8,646
  8,926
  9,229
  9,559
  9,913
  10,293
  10,700
  11,135
  11,597
  12,089
  12,610
  13,163
  13,748
  14,366
  15,020
  15,710
  16,438
  17,206
  18,016
  18,868
  19,767
  20,712
  21,708
  22,755
  23,857
  25,017
Working capital, $m
  0
  -166
  -170
  -174
  -179
  -184
  -190
  -197
  -204
  -211
  -219
  -228
  -237
  -247
  -258
  -269
  -281
  -293
  -306
  -320
  -335
  -350
  -367
  -384
  -402
  -421
  -442
  -463
  -485
  -509
  -533
Total debt, $m
  31,324
  32,062
  32,844
  33,739
  34,744
  35,857
  37,079
  38,409
  39,849
  41,400
  43,064
  44,845
  46,746
  48,769
  50,919
  53,201
  55,619
  58,178
  60,885
  63,745
  66,765
  69,951
  73,311
  76,853
  80,585
  84,516
  88,654
  93,010
  97,593
  102,416
  107,488
Total liabilities, $m
  33,300
  34,038
  34,820
  35,715
  36,720
  37,833
  39,055
  40,385
  41,825
  43,376
  45,040
  46,821
  48,722
  50,745
  52,895
  55,177
  57,595
  60,154
  62,861
  65,721
  68,741
  71,927
  75,287
  78,829
  82,561
  86,492
  90,630
  94,986
  99,569
  104,392
  109,464
Total equity, $m
  5,239
  5,358
  5,481
  5,622
  5,780
  5,955
  6,148
  6,357
  6,584
  6,828
  7,090
  7,370
  7,669
  7,988
  8,326
  8,685
  9,066
  9,469
  9,895
  10,345
  10,820
  11,322
  11,851
  12,408
  12,996
  13,614
  14,266
  14,951
  15,673
  16,432
  17,230
Total liabilities and equity, $m
  38,539
  39,396
  40,301
  41,337
  42,500
  43,788
  45,203
  46,742
  48,409
  50,204
  52,130
  54,191
  56,391
  58,733
  61,221
  63,862
  66,661
  69,623
  72,756
  76,066
  79,561
  83,249
  87,138
  91,237
  95,557
  100,106
  104,896
  109,937
  115,242
  120,824
  126,694
Debt-to-equity ratio
  5.979
  5.980
  5.990
  6.000
  6.010
  6.020
  6.030
  6.040
  6.050
  6.060
  6.070
  6.080
  6.100
  6.110
  6.120
  6.130
  6.130
  6.140
  6.150
  6.160
  6.170
  6.180
  6.190
  6.190
  6.200
  6.210
  6.210
  6.220
  6.230
  6.230
  6.240
Adjusted equity ratio
  0.132
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136
  0.136

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  766
  226
  231
  238
  246
  254
  262
  271
  281
  291
  302
  319
  331
  344
  357
  372
  387
  402
  419
  437
  455
  474
  495
  516
  539
  563
  588
  614
  642
  671
  701
Depreciation, amort., depletion, $m
  1,095
  785
  803
  824
  847
  872
  900
  930
  963
  999
  1,037
  1,070
  1,113
  1,160
  1,209
  1,261
  1,316
  1,375
  1,437
  1,502
  1,571
  1,644
  1,721
  1,802
  1,887
  1,977
  2,071
  2,171
  2,276
  2,386
  2,502
Funds from operations, $m
  4,252
  1,011
  1,034
  1,062
  1,092
  1,126
  1,162
  1,202
  1,244
  1,290
  1,339
  1,389
  1,445
  1,504
  1,566
  1,633
  1,703
  1,777
  1,856
  1,939
  2,026
  2,118
  2,215
  2,318
  2,426
  2,539
  2,659
  2,785
  2,917
  3,057
  3,203
Change in working capital, $m
  -221
  -3
  -4
  -4
  -5
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
Cash from operations, $m
  4,473
  1,015
  1,038
  1,066
  1,097
  1,131
  1,168
  1,208
  1,251
  1,298
  1,347
  1,398
  1,454
  1,513
  1,577
  1,644
  1,715
  1,790
  1,869
  1,952
  2,041
  2,134
  2,232
  2,335
  2,444
  2,559
  2,679
  2,806
  2,940
  3,080
  3,228
Maintenance CAPEX, $m
  0
  -763
  -778
  -796
  -816
  -839
  -865
  -893
  -923
  -956
  -991
  -1,029
  -1,070
  -1,113
  -1,160
  -1,209
  -1,261
  -1,316
  -1,375
  -1,437
  -1,502
  -1,571
  -1,644
  -1,721
  -1,802
  -1,887
  -1,977
  -2,071
  -2,171
  -2,276
  -2,386
New CAPEX, $m
  -5,620
  -152
  -179
  -205
  -230
  -254
  -279
  -304
  -329
  -354
  -380
  -407
  -434
  -462
  -491
  -521
  -553
  -585
  -619
  -654
  -690
  -728
  -768
  -809
  -853
  -898
  -946
  -995
  -1,048
  -1,102
  -1,159
Cash from investing activities, $m
  -5,268
  -915
  -957
  -1,001
  -1,046
  -1,093
  -1,144
  -1,197
  -1,252
  -1,310
  -1,371
  -1,436
  -1,504
  -1,575
  -1,651
  -1,730
  -1,814
  -1,901
  -1,994
  -2,091
  -2,192
  -2,299
  -2,412
  -2,530
  -2,655
  -2,785
  -2,923
  -3,066
  -3,219
  -3,378
  -3,545
Free cash flow, $m
  -795
  100
  81
  66
  51
  38
  24
  12
  -1
  -13
  -25
  -39
  -51
  -62
  -74
  -87
  -99
  -112
  -125
  -138
  -151
  -165
  -180
  -195
  -210
  -226
  -243
  -261
  -279
  -298
  -317
Issuance/(repayment) of debt, $m
  928
  738
  783
  895
  1,005
  1,113
  1,221
  1,330
  1,440
  1,551
  1,665
  1,781
  1,900
  2,023
  2,150
  2,282
  2,418
  2,560
  2,707
  2,860
  3,020
  3,186
  3,360
  3,542
  3,732
  3,930
  4,138
  4,356
  4,584
  4,822
  5,072
Issuance/(repurchase) of shares, $m
  8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  7
  14
  20
  27
  34
  41
  48
  56
  64
  72
  80
  88
  97
Cash from financing (excl. dividends), $m  
  936
  738
  783
  895
  1,005
  1,113
  1,221
  1,330
  1,440
  1,551
  1,665
  1,781
  1,900
  2,023
  2,150
  2,282
  2,418
  2,561
  2,714
  2,874
  3,040
  3,213
  3,394
  3,583
  3,780
  3,986
  4,202
  4,428
  4,664
  4,910
  5,169
Total cash flow (excl. dividends), $m
  141
  837
  864
  961
  1,056
  1,151
  1,246
  1,342
  1,439
  1,538
  1,640
  1,742
  1,850
  1,961
  2,076
  2,195
  2,319
  2,448
  2,589
  2,736
  2,889
  3,048
  3,214
  3,388
  3,570
  3,760
  3,959
  4,167
  4,385
  4,613
  4,852
Retained Cash Flow (-), $m
  -806
  -119
  -123
  -141
  -158
  -175
  -192
  -209
  -227
  -244
  -262
  -280
  -299
  -318
  -338
  -359
  -381
  -403
  -426
  -450
  -475
  -502
  -529
  -558
  -587
  -619
  -651
  -686
  -721
  -759
  -798
Prev. year cash balance distribution, $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 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
 
  718
  741
  820
  898
  976
  1,054
  1,132
  1,212
  1,294
  1,378
  1,462
  1,551
  1,642
  1,737
  1,836
  1,938
  2,046
  2,163
  2,286
  2,413
  2,546
  2,685
  2,831
  2,982
  3,141
  3,307
  3,481
  3,663
  3,854
  4,054
Discount rate, %
 
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.41
  27.73
  29.12
  30.58
  32.10
  33.71
  35.40
  37.17
  39.02
  40.97
  43.02
  45.17
  47.43
  49.81
PV of cash for distribution, $m
 
  641
  583
  563
  531
  491
  445
  396
  345
  295
  247
  202
  162
  127
  98
  73
  53
  38
  26
  18
  12
  7
  5
  3
  2
  1
  0
  0
  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
  99.9
  99.7
  99.5
  99.2
  98.9
  98.5
  98.1
  97.6
  97.1
  96.5
  95.9
  95.3
  94.6

Santander Consumer USA Holdings Inc., a specialized consumer finance company, provides vehicle finance and third-party servicing in the United States. The company’s vehicle finance products and services include retail installment contracts, vehicle leases, and dealer loans. It also offers financial products and services related to motorcycles, RVs, and marine vehicles; originates vehicle loans through a Web-based direct lending program; purchases vehicle retail installment contracts from other lenders; and services automobile, and recreational and marine vehicle portfolios for other lenders. Santander Consumer USA Holdings Inc. was founded in 1995 and is headquartered in Dallas, Texas. Santander Consumer USA Holdings Inc. is a subsidiary of Santander Holdings USA, Inc.

FINANCIAL RATIOS  of  Santander Consumer USA Holdings (SC)

Valuation Ratios
P/E Ratio 6
Price to Sales 0.7
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 1
Price to Free Cash Flow -4
Growth Rates
Sales Growth Rate 7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.7%
Cap. Spend. - 3 Yr. Gr. Rate 18.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 597.9%
Total Debt to Equity 597.9%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.4%
Ret/ On Assets - 3 Yr. Avg. 3.6%
Return On Total Capital 2.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2.4%
Return On Equity 15.8%
Return On Equity - 3 Yr. Avg. 19.8%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 74.5%
Gross Margin - 3 Yr. Avg. 78.7%
EBITDA Margin 43.2%
EBITDA Margin - 3 Yr. Avg. 41.5%
Operating Margin 16.4%
Oper. Margin - 3 Yr. Avg. 18.7%
Pre-Tax Margin 16.4%
Pre-Tax Margin - 3 Yr. Avg. 18.7%
Net Profit Margin 10.8%
Net Profit Margin - 3 Yr. Avg. 12.1%
Effective Tax Rate 34%
Eff/ Tax Rate - 3 Yr. Avg. 35.2%
Payout Ratio 0%

SC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SC stock intrinsic value calculation we used $7068 million for the last fiscal year's total revenue generated by Santander Consumer USA Holdings. The default revenue input number comes from 2016 income statement of Santander Consumer USA Holdings. 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 SC stock valuation model: a) initial revenue growth rate of 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 12.1%, whose default value for SC is calculated based on our internal credit rating of Santander Consumer USA Holdings, 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 Santander Consumer USA Holdings.
    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 SC stock the variable cost ratio is equal to 80.5%.

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 SC 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 3.5% for Santander Consumer USA Holdings.

Corporate tax rate of 27% is the nominal tax rate for Santander Consumer USA Holdings. 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 SC 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 SC are equal to 107.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Santander Consumer USA Holdings 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 SC is equal to -2.3%. 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 - $5239 million for Santander Consumer USA Holdings - 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 353.846 million for Santander Consumer USA Holdings 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 Santander Consumer USA Holdings at the current share price and the inputted number of shares is $4.5 billion.

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Stock chart of SC Financial statements of SC
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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