Intrinsic value of Sirius XM Holdings Inc. - SIRI

Previous Close

$6.08

  Intrinsic Value

$1.09

stock screener

  Rating & Target

str. sell

-82%

Previous close

$6.08

 
Intrinsic value

$1.09

 
Up/down potential

-82%

 
Rating

str. sell

We calculate the intrinsic value of SIRI 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
(a)
   1
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -100.00
  6.60
  6.44
  6.30
  6.17
  6.05
  5.94
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.18
  5.16
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.08
Revenue, $m
  0
  6,152
  6,548
  6,960
  7,390
  7,837
  8,302
  8,788
  9,295
  9,824
  10,376
  10,952
  11,555
  12,185
  12,844
  13,533
  14,254
  15,009
  15,800
  16,628
  17,495
  18,404
  19,356
  20,354
  21,401
  22,498
  23,649
  24,856
  26,122
  27,450
  28,843
Variable operating expenses, $m
 
  4,262
  4,506
  4,760
  5,024
  5,298
  5,585
  5,884
  6,195
  6,520
  6,860
  6,735
  7,106
  7,493
  7,899
  8,322
  8,766
  9,230
  9,716
  10,226
  10,759
  11,318
  11,904
  12,518
  13,161
  13,836
  14,544
  15,286
  16,064
  16,881
  17,738
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
  0
  4,262
  4,506
  4,760
  5,024
  5,298
  5,585
  5,884
  6,195
  6,520
  6,860
  6,735
  7,106
  7,493
  7,899
  8,322
  8,766
  9,230
  9,716
  10,226
  10,759
  11,318
  11,904
  12,518
  13,161
  13,836
  14,544
  15,286
  16,064
  16,881
  17,738
Operating income, $m
  0
  1,889
  2,042
  2,201
  2,366
  2,538
  2,717
  2,905
  3,100
  3,303
  3,516
  4,217
  4,449
  4,691
  4,945
  5,210
  5,488
  5,779
  6,083
  6,402
  6,736
  7,086
  7,452
  7,837
  8,240
  8,662
  9,105
  9,570
  10,057
  10,569
  11,105
EBITDA, $m
  0
  2,567
  2,732
  2,904
  3,083
  3,270
  3,464
  3,667
  3,878
  4,099
  4,329
  4,570
  4,822
  5,084
  5,359
  5,647
  5,948
  6,263
  6,593
  6,938
  7,300
  7,679
  8,077
  8,493
  8,930
  9,388
  9,868
  10,372
  10,900
  11,454
  12,035
Interest expense (income), $m
  0
  372
  256
  283
  312
  341
  372
  404
  437
  472
  509
  547
  586
  628
  671
  717
  764
  814
  866
  920
  977
  1,037
  1,099
  1,165
  1,234
  1,306
  1,381
  1,460
  1,544
  1,631
  1,722
Earnings before tax, $m
  0
  1,518
  1,786
  1,917
  2,054
  2,197
  2,346
  2,500
  2,662
  2,831
  3,007
  3,670
  3,862
  4,063
  4,274
  4,494
  4,724
  4,965
  5,217
  5,482
  5,759
  6,049
  6,353
  6,672
  7,006
  7,357
  7,724
  8,110
  8,514
  8,938
  9,383
Tax expense, $m
  0
  410
  482
  518
  555
  593
  633
  675
  719
  764
  812
  991
  1,043
  1,097
  1,154
  1,213
  1,275
  1,341
  1,409
  1,480
  1,555
  1,633
  1,715
  1,801
  1,892
  1,986
  2,085
  2,190
  2,299
  2,413
  2,533
Net income, $m
  0
  1,108
  1,304
  1,400
  1,500
  1,604
  1,712
  1,825
  1,943
  2,066
  2,195
  2,679
  2,820
  2,966
  3,120
  3,280
  3,449
  3,624
  3,809
  4,002
  4,204
  4,416
  4,638
  4,870
  5,114
  5,370
  5,639
  5,920
  6,215
  6,525
  6,850

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  0
  8,714
  9,275
  9,859
  10,467
  11,100
  11,760
  12,448
  13,165
  13,914
  14,696
  15,513
  16,367
  17,259
  18,192
  19,168
  20,190
  21,259
  22,379
  23,552
  24,780
  26,067
  27,416
  28,830
  30,313
  31,867
  33,497
  35,207
  37,000
  38,881
  40,854
Adjusted assets (=assets-cash), $m
  0
  8,714
  9,275
  9,859
  10,467
  11,100
  11,760
  12,448
  13,165
  13,914
  14,696
  15,513
  16,367
  17,259
  18,192
  19,168
  20,190
  21,259
  22,379
  23,552
  24,780
  26,067
  27,416
  28,830
  30,313
  31,867
  33,497
  35,207
  37,000
  38,881
  40,854
Revenue / Adjusted assets
  0.000
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
  0.706
Average production assets, $m
  0
  4,146
  4,413
  4,691
  4,981
  5,282
  5,596
  5,923
  6,265
  6,621
  6,993
  7,382
  7,788
  8,213
  8,657
  9,121
  9,607
  10,116
  10,649
  11,207
  11,792
  12,404
  13,046
  13,719
  14,424
  15,164
  15,939
  16,753
  17,606
  18,501
  19,440
Working capital, $m
  0
  -2,535
  -2,698
  -2,868
  -3,044
  -3,229
  -3,421
  -3,621
  -3,829
  -4,047
  -4,275
  -4,512
  -4,761
  -5,020
  -5,292
  -5,576
  -5,873
  -6,184
  -6,509
  -6,851
  -7,208
  -7,582
  -7,975
  -8,386
  -8,817
  -9,269
  -9,743
  -10,241
  -10,762
  -11,309
  -11,883
Total debt, $m
  0
  4,741
  5,246
  5,771
  6,318
  6,888
  7,482
  8,101
  8,747
  9,421
  10,125
  10,860
  11,628
  12,431
  13,271
  14,150
  15,069
  16,032
  17,039
  18,095
  19,201
  20,359
  21,573
  22,846
  24,180
  25,579
  27,046
  28,584
  30,198
  31,891
  33,667
Total liabilities, $m
  0
  7,842
  8,347
  8,873
  9,420
  9,990
  10,584
  11,203
  11,849
  12,523
  13,227
  13,962
  14,730
  15,533
  16,373
  17,252
  18,171
  19,133
  20,141
  21,197
  22,302
  23,461
  24,675
  25,947
  27,282
  28,680
  30,147
  31,686
  33,300
  34,993
  36,769
Total equity, $m
  0
  871
  927
  986
  1,047
  1,110
  1,176
  1,245
  1,317
  1,391
  1,470
  1,551
  1,637
  1,726
  1,819
  1,917
  2,019
  2,126
  2,238
  2,355
  2,478
  2,607
  2,742
  2,883
  3,031
  3,187
  3,350
  3,521
  3,700
  3,888
  4,085
Total liabilities and equity, $m
  0
  8,713
  9,274
  9,859
  10,467
  11,100
  11,760
  12,448
  13,166
  13,914
  14,697
  15,513
  16,367
  17,259
  18,192
  19,169
  20,190
  21,259
  22,379
  23,552
  24,780
  26,068
  27,417
  28,830
  30,313
  31,867
  33,497
  35,207
  37,000
  38,881
  40,854
Debt-to-equity ratio
  0.000
  5.440
  5.660
  5.850
  6.040
  6.210
  6.360
  6.510
  6.640
  6.770
  6.890
  7.000
  7.100
  7.200
  7.300
  7.380
  7.460
  7.540
  7.610
  7.680
  7.750
  7.810
  7.870
  7.920
  7.980
  8.030
  8.070
  8.120
  8.160
  8.200
  8.240
Adjusted equity ratio
  0.000
  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
  0
  1,108
  1,304
  1,400
  1,500
  1,604
  1,712
  1,825
  1,943
  2,066
  2,195
  2,679
  2,820
  2,966
  3,120
  3,280
  3,449
  3,624
  3,809
  4,002
  4,204
  4,416
  4,638
  4,870
  5,114
  5,370
  5,639
  5,920
  6,215
  6,525
  6,850
Depreciation, amort., depletion, $m
  0
  677
  690
  704
  717
  732
  747
  763
  779
  796
  814
  353
  373
  393
  414
  436
  460
  484
  510
  536
  564
  593
  624
  656
  690
  726
  763
  802
  842
  885
  930
Funds from operations, $m
  0
  1,785
  1,994
  2,103
  2,217
  2,336
  2,459
  2,588
  2,722
  2,862
  3,009
  3,032
  3,192
  3,359
  3,534
  3,717
  3,908
  4,109
  4,318
  4,538
  4,768
  5,009
  5,262
  5,527
  5,805
  6,096
  6,401
  6,722
  7,057
  7,410
  7,780
Change in working capital, $m
  0
  -157
  -163
  -170
  -177
  -184
  -192
  -200
  -209
  -218
  -227
  -238
  -248
  -260
  -271
  -284
  -297
  -311
  -326
  -341
  -357
  -374
  -392
  -411
  -431
  -452
  -474
  -497
  -522
  -547
  -574
Cash from operations, $m
  0
  1,942
  2,157
  2,273
  2,394
  2,520
  2,651
  2,788
  2,931
  3,080
  3,236
  3,270
  3,440
  3,619
  3,805
  4,001
  4,205
  4,420
  4,644
  4,879
  5,125
  5,384
  5,654
  5,938
  6,236
  6,548
  6,875
  7,219
  7,579
  7,957
  8,354
Maintenance CAPEX, $m
  0
  -186
  -198
  -211
  -224
  -238
  -253
  -268
  -283
  -300
  -317
  -335
  -353
  -373
  -393
  -414
  -436
  -460
  -484
  -510
  -536
  -564
  -593
  -624
  -656
  -690
  -726
  -763
  -802
  -842
  -885
New CAPEX, $m
  0
  -258
  -267
  -278
  -289
  -301
  -314
  -327
  -341
  -356
  -372
  -389
  -406
  -425
  -444
  -465
  -486
  -509
  -533
  -558
  -585
  -613
  -642
  -673
  -705
  -740
  -776
  -813
  -853
  -895
  -939
Cash from investing activities, $m
  0
  -444
  -465
  -489
  -513
  -539
  -567
  -595
  -624
  -656
  -689
  -724
  -759
  -798
  -837
  -879
  -922
  -969
  -1,017
  -1,068
  -1,121
  -1,177
  -1,235
  -1,297
  -1,361
  -1,430
  -1,502
  -1,576
  -1,655
  -1,737
  -1,824
Free cash flow, $m
  0
  1,498
  1,692
  1,784
  1,880
  1,980
  2,084
  2,193
  2,306
  2,424
  2,547
  2,547
  2,681
  2,822
  2,968
  3,122
  3,283
  3,451
  3,627
  3,811
  4,005
  4,207
  4,419
  4,641
  4,874
  5,118
  5,374
  5,643
  5,924
  6,220
  6,529
Issuance/(repayment) of debt, $m
  0
  -2,147
  505
  526
  547
  570
  594
  619
  646
  674
  704
  735
  768
  803
  840
  879
  919
  962
  1,008
  1,055
  1,106
  1,158
  1,214
  1,273
  1,334
  1,399
  1,467
  1,539
  1,614
  1,693
  1,776
Issuance/(repurchase) of shares, $m
  0
  1,580
  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  
  0
  -567
  505
  526
  547
  570
  594
  619
  646
  674
  704
  735
  768
  803
  840
  879
  919
  962
  1,008
  1,055
  1,106
  1,158
  1,214
  1,273
  1,334
  1,399
  1,467
  1,539
  1,614
  1,693
  1,776
Total cash flow (excl. dividends), $m
  0
  931
  2,197
  2,310
  2,427
  2,550
  2,678
  2,812
  2,952
  3,098
  3,251
  3,282
  3,449
  3,625
  3,808
  4,001
  4,202
  4,413
  4,635
  4,867
  5,110
  5,365
  5,633
  5,914
  6,208
  6,517
  6,841
  7,181
  7,538
  7,912
  8,305
Retained Cash Flow (-), $m
  0
  -2,688
  -56
  -58
  -61
  -63
  -66
  -69
  -72
  -75
  -78
  -82
  -85
  -89
  -93
  -98
  -102
  -107
  -112
  -117
  -123
  -129
  -135
  -141
  -148
  -155
  -163
  -171
  -179
  -188
  -197
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
 
  -1,757
  2,141
  2,251
  2,367
  2,487
  2,612
  2,743
  2,880
  3,023
  3,173
  3,200
  3,364
  3,535
  3,715
  3,903
  4,100
  4,307
  4,523
  4,750
  4,987
  5,237
  5,498
  5,772
  6,060
  6,362
  6,678
  7,010
  7,359
  7,724
  8,108
Discount rate, %
 
  12.00
  12.60
  13.23
  13.89
  14.59
  15.32
  16.08
  16.89
  17.73
  18.62
  19.55
  20.52
  21.55
  22.63
  23.76
  24.95
  26.19
  27.50
  28.88
  30.32
  31.84
  33.43
  35.10
  36.86
  38.70
  40.64
  42.67
  44.80
  47.04
  49.39
PV of cash for distribution, $m
 
  -1,569
  1,689
  1,551
  1,407
  1,259
  1,111
  966
  827
  696
  575
  449
  358
  280
  214
  159
  116
  82
  57
  38
  25
  16
  10
  6
  3
  2
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Sirius XM Holdings Inc. provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels. It also streams music and non-music channels over the Internet; and offer applications to allow consumers to access its Internet radio service on smartphones, tablets, computers, home devices, and other consumer electronic equipment. In addition, the company distributes satellite radios through the sale and lease of new vehicles; and acquires subscribers through the sale and lease of previously owned vehicles with factory-installed satellite radios. Its satellite radio systems include satellites, terrestrial repeaters, and other satellite facilities; studios; and radios. Further, the company provides satellite television services, which offer music channels on the DISH NETWORK satellite television service as a programming package; Travel Link, a suite of data services that include graphical weather, fuel prices, sports schedule and scores, and movie listings; real-time traffic services; and real-time weather services. Additionally, it offers location-based services through two-way wireless connectivity, including safety, security, convenience, maintenance and data services, remote vehicles diagnostics, and stolen or parked vehicle locator services. The company also sells satellite radios directly to consumers through its Website, as well as through national and regional retailers. The company was founded in 1990 and is headquartered in New York, New York. Sirius XM Holdings Inc. is a subsidiary of Liberty Media Corporation.

FINANCIAL RATIOS  of  Sirius XM Holdings Inc. (SIRI)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

SIRI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SIRI stock intrinsic value calculation we used $5771 million for the last fiscal year's total revenue generated by Sirius XM Holdings Inc.. The default revenue input number comes from income statement of Sirius XM Holdings Inc.. 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 SIRI stock valuation model: a) initial revenue growth rate of 6.6% 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%, whose default value for SIRI is calculated based on our internal credit rating of Sirius XM Holdings Inc., 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 Sirius XM Holdings Inc..
    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 SIRI stock the variable cost ratio is equal to 69.8%.

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 SIRI 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 5.4% for Sirius XM Holdings Inc..

Corporate tax rate of 27% is the nominal tax rate for Sirius XM Holdings Inc.. 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 SIRI 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 SIRI are equal to 67.4%.

Life of production assets of 20.9 years is the average useful life of capital assets used in Sirius XM Holdings Inc. 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 SIRI is equal to -41.2%. 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 - $-1816.921 million for Sirius XM Holdings Inc. - 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 4735.818 million for Sirius XM Holdings Inc. 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 Sirius XM Holdings Inc. at the current share price and the inputted number of shares is $28.8 billion.

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