Intrinsic value of Six Flags Entertainment - SIX

Previous Close

$54.75

  Intrinsic Value

$7.07

stock screener

  Rating & Target

str. sell

-87%

  Value-price divergence*

-51%

Previous close

$54.75

 
Intrinsic value

$7.07

 
Up/down potential

-87%

 
Rating

str. sell

 
Value-price divergence*

-51%

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

We calculate the intrinsic value of SIX 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 5.0

 

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, %
  4.35
  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
  1,319
  1,345
  1,376
  1,412
  1,451
  1,495
  1,544
  1,596
  1,653
  1,714
  1,780
  1,851
  1,926
  2,006
  2,091
  2,181
  2,277
  2,378
  2,485
  2,598
  2,717
  2,843
  2,976
  3,116
  3,263
  3,419
  3,582
  3,754
  3,936
  4,126
  4,327
Variable operating expenses, $m
 
  973
  994
  1,018
  1,044
  1,074
  1,107
  1,142
  1,181
  1,222
  1,267
  1,251
  1,302
  1,356
  1,414
  1,475
  1,539
  1,608
  1,680
  1,757
  1,837
  1,923
  2,012
  2,107
  2,207
  2,312
  2,422
  2,539
  2,661
  2,790
  2,926
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
  1,001
  973
  994
  1,018
  1,044
  1,074
  1,107
  1,142
  1,181
  1,222
  1,267
  1,251
  1,302
  1,356
  1,414
  1,475
  1,539
  1,608
  1,680
  1,757
  1,837
  1,923
  2,012
  2,107
  2,207
  2,312
  2,422
  2,539
  2,661
  2,790
  2,926
Operating income, $m
  319
  373
  383
  394
  407
  421
  437
  454
  472
  492
  513
  599
  623
  649
  677
  706
  737
  770
  804
  841
  880
  920
  963
  1,009
  1,057
  1,107
  1,160
  1,216
  1,274
  1,336
  1,401
EBITDA, $m
  426
  513
  525
  539
  554
  570
  589
  609
  631
  654
  679
  706
  735
  765
  798
  832
  868
  907
  948
  991
  1,036
  1,085
  1,135
  1,189
  1,245
  1,304
  1,367
  1,432
  1,501
  1,574
  1,651
Interest expense (income), $m
  69
  73
  56
  58
  61
  64
  67
  70
  74
  79
  83
  88
  93
  99
  105
  111
  118
  125
  133
  141
  149
  158
  168
  177
  188
  199
  211
  223
  236
  249
  263
Earnings before tax, $m
  233
  300
  327
  336
  346
  358
  370
  383
  398
  413
  430
  511
  530
  550
  572
  595
  619
  645
  672
  700
  730
  762
  796
  831
  869
  908
  949
  993
  1,039
  1,087
  1,137
Tax expense, $m
  76
  81
  88
  91
  94
  97
  100
  104
  107
  112
  116
  138
  143
  149
  154
  161
  167
  174
  181
  189
  197
  206
  215
  224
  235
  245
  256
  268
  280
  293
  307
Net income, $m
  118
  219
  239
  245
  253
  261
  270
  280
  290
  302
  314
  373
  387
  402
  418
  434
  452
  471
  490
  511
  533
  557
  581
  607
  634
  663
  693
  725
  758
  793
  830

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  137
  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
  2,488
  2,538
  2,597
  2,664
  2,739
  2,822
  2,913
  3,012
  3,119
  3,235
  3,359
  3,492
  3,634
  3,784
  3,945
  4,115
  4,295
  4,486
  4,688
  4,901
  5,127
  5,364
  5,615
  5,879
  6,157
  6,450
  6,759
  7,084
  7,426
  7,785
  8,164
Adjusted assets (=assets-cash), $m
  2,351
  2,538
  2,597
  2,664
  2,739
  2,822
  2,913
  3,012
  3,119
  3,235
  3,359
  3,492
  3,634
  3,784
  3,945
  4,115
  4,295
  4,486
  4,688
  4,901
  5,127
  5,364
  5,615
  5,879
  6,157
  6,450
  6,759
  7,084
  7,426
  7,785
  8,164
Revenue / Adjusted assets
  0.561
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
  0.530
Average production assets, $m
  1,560
  1,592
  1,628
  1,670
  1,717
  1,769
  1,826
  1,888
  1,956
  2,028
  2,106
  2,189
  2,278
  2,373
  2,473
  2,580
  2,693
  2,813
  2,939
  3,073
  3,214
  3,363
  3,520
  3,686
  3,861
  4,044
  4,238
  4,441
  4,656
  4,881
  5,118
Working capital, $m
  -37
  -135
  -138
  -141
  -145
  -150
  -154
  -160
  -165
  -171
  -178
  -185
  -193
  -201
  -209
  -218
  -228
  -238
  -248
  -260
  -272
  -284
  -298
  -312
  -326
  -342
  -358
  -375
  -394
  -413
  -433
Total debt, $m
  1,654
  1,265
  1,317
  1,377
  1,445
  1,519
  1,601
  1,691
  1,787
  1,891
  2,003
  2,123
  2,250
  2,386
  2,530
  2,683
  2,846
  3,018
  3,199
  3,391
  3,594
  3,808
  4,033
  4,271
  4,522
  4,785
  5,063
  5,355
  5,663
  5,987
  6,327
Total liabilities, $m
  2,674
  2,285
  2,337
  2,397
  2,465
  2,539
  2,621
  2,711
  2,807
  2,911
  3,023
  3,143
  3,270
  3,406
  3,550
  3,703
  3,866
  4,038
  4,219
  4,411
  4,614
  4,828
  5,053
  5,291
  5,542
  5,805
  6,083
  6,375
  6,683
  7,007
  7,347
Total equity, $m
  -186
  254
  260
  266
  274
  282
  291
  301
  312
  323
  336
  349
  363
  378
  394
  411
  430
  449
  469
  490
  513
  536
  561
  588
  616
  645
  676
  708
  743
  779
  816
Total liabilities and equity, $m
  2,488
  2,539
  2,597
  2,663
  2,739
  2,821
  2,912
  3,012
  3,119
  3,234
  3,359
  3,492
  3,633
  3,784
  3,944
  4,114
  4,296
  4,487
  4,688
  4,901
  5,127
  5,364
  5,614
  5,879
  6,158
  6,450
  6,759
  7,083
  7,426
  7,786
  8,163
Debt-to-equity ratio
  -8.892
  4.980
  5.070
  5.170
  5.280
  5.380
  5.500
  5.610
  5.730
  5.850
  5.960
  6.080
  6.190
  6.300
  6.410
  6.520
  6.630
  6.730
  6.820
  6.920
  7.010
  7.100
  7.180
  7.260
  7.340
  7.420
  7.490
  7.560
  7.630
  7.690
  7.750
Adjusted equity ratio
  -0.137
  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
  118
  219
  239
  245
  253
  261
  270
  280
  290
  302
  314
  373
  387
  402
  418
  434
  452
  471
  490
  511
  533
  557
  581
  607
  634
  663
  693
  725
  758
  793
  830
Depreciation, amort., depletion, $m
  107
  141
  142
  144
  147
  149
  152
  155
  158
  162
  166
  107
  111
  116
  121
  126
  131
  137
  143
  150
  157
  164
  172
  180
  188
  197
  207
  217
  227
  238
  250
Funds from operations, $m
  474
  359
  381
  390
  400
  410
  422
  435
  449
  464
  480
  480
  498
  518
  538
  560
  583
  608
  634
  661
  690
  721
  753
  787
  822
  860
  900
  941
  985
  1,031
  1,080
Change in working capital, $m
  11
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
Cash from operations, $m
  463
  362
  384
  393
  404
  415
  427
  440
  455
  470
  486
  487
  506
  526
  547
  569
  593
  618
  644
  672
  702
  733
  766
  801
  837
  876
  916
  959
  1,003
  1,050
  1,100
Maintenance CAPEX, $m
  0
  -76
  -78
  -79
  -81
  -84
  -86
  -89
  -92
  -95
  -99
  -103
  -107
  -111
  -116
  -121
  -126
  -131
  -137
  -143
  -150
  -157
  -164
  -172
  -180
  -188
  -197
  -207
  -217
  -227
  -238
New CAPEX, $m
  -129
  -32
  -37
  -42
  -47
  -52
  -57
  -62
  -67
  -73
  -78
  -83
  -89
  -95
  -101
  -107
  -113
  -120
  -127
  -134
  -141
  -149
  -157
  -166
  -175
  -184
  -194
  -204
  -214
  -225
  -237
Cash from investing activities, $m
  -128
  -108
  -115
  -121
  -128
  -136
  -143
  -151
  -159
  -168
  -177
  -186
  -196
  -206
  -217
  -228
  -239
  -251
  -264
  -277
  -291
  -306
  -321
  -338
  -355
  -372
  -391
  -411
  -431
  -452
  -475
Free cash flow, $m
  335
  254
  270
  272
  275
  279
  284
  289
  295
  302
  310
  301
  310
  320
  330
  342
  354
  367
  381
  395
  411
  427
  445
  463
  483
  503
  525
  548
  572
  598
  625
Issuance/(repayment) of debt, $m
  148
  -389
  53
  60
  67
  75
  82
  89
  97
  104
  112
  120
  128
  136
  144
  153
  162
  172
  182
  192
  203
  214
  226
  238
  250
  264
  278
  292
  308
  324
  340
Issuance/(repurchase) of shares, $m
  -175
  221
  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  
  -73
  -168
  53
  60
  67
  75
  82
  89
  97
  104
  112
  120
  128
  136
  144
  153
  162
  172
  182
  192
  203
  214
  226
  238
  250
  264
  278
  292
  308
  324
  340
Total cash flow (excl. dividends), $m
  258
  86
  323
  332
  343
  354
  366
  378
  392
  406
  421
  420
  438
  456
  475
  495
  516
  539
  562
  587
  614
  641
  670
  701
  733
  767
  803
  841
  880
  922
  965
Retained Cash Flow (-), $m
  210
  -440
  -6
  -7
  -7
  -8
  -9
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -36
  -38
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
 
  -354
  317
  325
  335
  345
  356
  368
  381
  394
  409
  407
  423
  440
  459
  478
  498
  520
  542
  566
  591
  617
  645
  675
  706
  738
  772
  808
  846
  886
  927
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
 
  -316
  249
  224
  198
  174
  151
  129
  108
  90
  73
  56
  44
  34
  26
  19
  14
  10
  7
  4
  3
  2
  1
  1
  0
  0
  0
  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

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand name. The company’s parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets, as well as family-oriented entertainment. It owns and operates 18 parks, including 16 parks in the United States; 1 park in Mexico City, Mexico; and 1 park in Montreal, Canada. The company was formerly known as Six Flags, Inc. and changed its name to Six Flags Entertainment Corporation in April 2010. Six Flags Entertainment Corporation was founded in 1971 and is based in Grand Prairie, Texas.

FINANCIAL RATIOS  of  Six Flags Entertainment (SIX)

Valuation Ratios
P/E Ratio 42.2
Price to Sales 3.8
Price to Book -26.7
Price to Tangible Book
Price to Cash Flow 10.7
Price to Free Cash Flow 14.9
Growth Rates
Sales Growth Rate 4.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 13.2%
Cap. Spend. - 3 Yr. Gr. Rate 4.8%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity -873.7%
Total Debt to Equity -889.2%
Interest Coverage 4
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 6.7%
Return On Total Capital 7.9%
Ret/ On T. Cap. - 3 Yr. Avg. 7.4%
Return On Equity -145.7%
Return On Equity - 3 Yr. Avg. 1.6%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 91.7%
Gross Margin - 3 Yr. Avg. 92%
EBITDA Margin 31%
EBITDA Margin - 3 Yr. Avg. 31.5%
Operating Margin 24.1%
Oper. Margin - 3 Yr. Avg. 23.7%
Pre-Tax Margin 17.7%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 8.9%
Net Profit Margin - 3 Yr. Avg. 9.2%
Effective Tax Rate 32.6%
Eff/ Tax Rate - 3 Yr. Avg. 29.5%
Payout Ratio 186.4%

SIX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SIX stock intrinsic value calculation we used $1319 million for the last fiscal year's total revenue generated by Six Flags Entertainment. The default revenue input number comes from 2016 income statement of Six Flags Entertainment. 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 SIX 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 SIX is calculated based on our internal credit rating of Six Flags Entertainment, 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 Six Flags Entertainment.
    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 SIX stock the variable cost ratio is equal to 72.4%.

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 SIX 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 4.4% for Six Flags Entertainment.

Corporate tax rate of 27% is the nominal tax rate for Six Flags Entertainment. 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 SIX 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 SIX are equal to 118.3%.

Life of production assets of 20.5 years is the average useful life of capital assets used in Six Flags Entertainment 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 SIX is equal to -10%. 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 - $-186 million for Six Flags Entertainment - 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 92.063 million for Six Flags Entertainment 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 Six Flags Entertainment at the current share price and the inputted number of shares is $5.0 billion.

RELATED COMPANIES Price Int.Val. Rating
SEAS SeaWorld Enter 13.51 6.89  str.sell
FUN Cedar Fair Dep 66.35 18.92  str.sell
CMCSA Comcast Cl A 40.27 31.05  sell
DIS Walt Disney 101.38 105.74  hold

COMPANY NEWS

▶ Six Flags Announces Quarterly Cash Dividend   [Aug-17-17 07:00AM  Business Wire]
▶ Six Flags to Present at Upcoming Investor Conference   [Aug-01-17 05:00PM  Business Wire]
▶ Six Flags misses Street 2Q forecasts   [Jul-26-17 09:28PM  Associated Press]
▶ Disneys Extraordinary Achievement   [Jul-24-17 05:33PM  Market Realist]
▶ Six Flags CEO steps down after a year on the job   [Jul-18-17 05:10PM  American City Business Journals]
▶ [$$] Six Flags CEO John Duffey Departs   [03:21PM  The Wall Street Journal]
▶ Six Flags Over Georgia to remove 27-year-old wooden roller coaster   [Jul-17-17 11:15AM  American City Business Journals]
▶ Six Flags Selloff Is Overdone, Says Stifel   [Jul-12-17 11:26AM  Barrons.com]
▶ Why China Is Becoming an Important Market for Disney   [Jul-03-17 10:38AM  Market Realist]
▶ [$$] Merlin: plastic Camelot   [09:52AM  Financial Times]
▶ Why Disney Expects Shanghai Disneyland to Be a Rising Star   [May-15-17 09:07AM  Market Realist]
▶ Six Flags Announces Quarterly Cash Dividend   [May-04-17 07:00AM  Business Wire]
▶ Repurchase of 5 Million Shares Announced by Six Flags   [Apr-28-17 05:11PM  Business Wire]
▶ Waterworld California Becomes Six Flags 20th Property   [Apr-27-17 04:45PM  Business Wire]
▶ Six Flags reports 1Q loss   [Apr-26-17 07:16AM  Associated Press]
▶ Stifel Likes Cedar Fair, Six Flags, and SeaWorld Stocks   [Apr-21-17 01:08PM  Motley Fool]
▶ Six Flags to introduce new Drop of Doom ride at Fiesta Texas (VIDEO)   [Apr-20-17 09:00AM  American City Business Journals]
▶ Six Flags to Present at Upcoming Investor Conferences   [Apr-10-17 04:30PM  Business Wire]
▶ Six Flags Sets Date to Announce First Quarter 2017 Earnings   [Apr-03-17 05:00PM  Business Wire]
▶ Six Flags New England Premieres HOLIDAY IN THE PARK®   [Mar-29-17 05:30AM  Business Wire]
Stock chart of SIX Financial statements of SIX
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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