Intrinsic value of Sun Hydraulics - SNHY

Previous Close

$57.20

  Intrinsic Value

$273.83

stock screener

  Rating & Target

str. buy

+379%

Previous close

$57.20

 
Intrinsic value

$273.83

 
Up/down potential

+379%

 
Rating

str. buy

We calculate the intrinsic value of SNHY 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 1.5

 

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, %
  -1.99
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  197
  315
  487
  728
  1,057
  1,491
  2,050
  2,751
  3,612
  4,648
  5,871
  7,291
  8,914
  10,744
  12,783
  15,031
  17,484
  20,140
  22,995
  26,043
  29,280
  32,702
  36,305
  40,086
  44,045
  48,179
  52,490
  56,980
  61,652
  66,509
  71,557
Variable operating expenses, $m
 
  235
  358
  530
  764
  1,074
  1,472
  1,973
  2,587
  3,326
  4,198
  5,200
  6,357
  7,663
  9,117
  10,720
  12,470
  14,364
  16,400
  18,574
  20,883
  23,323
  25,893
  28,590
  31,413
  34,362
  37,437
  40,639
  43,970
  47,435
  51,035
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
  162
  235
  358
  530
  764
  1,074
  1,472
  1,973
  2,587
  3,326
  4,198
  5,200
  6,357
  7,663
  9,117
  10,720
  12,470
  14,364
  16,400
  18,574
  20,883
  23,323
  25,893
  28,590
  31,413
  34,362
  37,437
  40,639
  43,970
  47,435
  51,035
Operating income, $m
  34
  80
  129
  198
  293
  417
  577
  779
  1,026
  1,323
  1,673
  2,091
  2,556
  3,081
  3,666
  4,311
  5,014
  5,776
  6,595
  7,469
  8,397
  9,379
  10,412
  11,496
  12,632
  13,817
  15,054
  16,341
  17,681
  19,074
  20,522
EBITDA, $m
  46
  104
  161
  241
  349
  493
  677
  909
  1,193
  1,536
  1,940
  2,409
  2,945
  3,550
  4,223
  4,966
  5,776
  6,654
  7,597
  8,604
  9,673
  10,804
  11,994
  13,244
  14,551
  15,917
  17,342
  18,825
  20,368
  21,973
  23,641
Interest expense (income), $m
  0
  5
  9
  16
  25
  37
  53
  74
  100
  132
  170
  216
  268
  329
  397
  472
  556
  647
  745
  851
  965
  1,085
  1,212
  1,346
  1,486
  1,633
  1,787
  1,947
  2,114
  2,287
  2,467
Earnings before tax, $m
  35
  75
  120
  183
  268
  380
  524
  705
  926
  1,191
  1,503
  1,875
  2,288
  2,753
  3,270
  3,838
  4,459
  5,129
  5,849
  6,617
  7,433
  8,294
  9,200
  10,151
  11,145
  12,184
  13,267
  14,395
  15,568
  16,787
  18,055
Tax expense, $m
  12
  20
  32
  49
  72
  103
  142
  190
  250
  322
  406
  506
  618
  743
  883
  1,036
  1,204
  1,385
  1,579
  1,787
  2,007
  2,239
  2,484
  2,741
  3,009
  3,290
  3,582
  3,887
  4,203
  4,533
  4,875
Net income, $m
  23
  55
  88
  133
  196
  278
  383
  515
  676
  869
  1,097
  1,369
  1,670
  2,009
  2,387
  2,802
  3,255
  3,744
  4,270
  4,831
  5,426
  6,054
  6,716
  7,410
  8,136
  8,894
  9,685
  10,508
  11,364
  12,255
  13,180

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  81
  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
  445
  583
  900
  1,346
  1,953
  2,756
  3,789
  5,085
  6,677
  8,592
  10,852
  13,476
  16,476
  19,859
  23,629
  27,783
  32,318
  37,228
  42,504
  48,138
  54,122
  60,447
  67,107
  74,097
  81,413
  89,056
  97,025
  105,324
  113,959
  122,937
  132,268
Adjusted assets (=assets-cash), $m
  364
  583
  900
  1,346
  1,953
  2,756
  3,789
  5,085
  6,677
  8,592
  10,852
  13,476
  16,476
  19,859
  23,629
  27,783
  32,318
  37,228
  42,504
  48,138
  54,122
  60,447
  67,107
  74,097
  81,413
  89,056
  97,025
  105,324
  113,959
  122,937
  132,268
Revenue / Adjusted assets
  0.541
  0.540
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
  0.541
Average production assets, $m
  137
  218
  337
  505
  732
  1,033
  1,420
  1,907
  2,503
  3,221
  4,069
  5,052
  6,177
  7,445
  8,859
  10,416
  12,117
  13,957
  15,935
  18,048
  20,291
  22,662
  25,159
  27,780
  30,523
  33,388
  36,376
  39,487
  42,725
  46,091
  49,589
Working capital, $m
  110
  46
  72
  107
  155
  219
  301
  404
  531
  683
  863
  1,072
  1,310
  1,579
  1,879
  2,209
  2,570
  2,961
  3,380
  3,828
  4,304
  4,807
  5,337
  5,893
  6,475
  7,082
  7,716
  8,376
  9,063
  9,777
  10,519
Total debt, $m
  140
  265
  448
  704
  1,052
  1,513
  2,106
  2,850
  3,764
  4,863
  6,160
  7,666
  9,388
  11,330
  13,494
  15,878
  18,482
  21,300
  24,328
  27,562
  30,997
  34,627
  38,450
  42,462
  46,662
  51,049
  55,623
  60,387
  65,343
  70,497
  75,853
Total liabilities, $m
  208
  334
  517
  773
  1,121
  1,582
  2,175
  2,919
  3,833
  4,932
  6,229
  7,735
  9,457
  11,399
  13,563
  15,947
  18,551
  21,369
  24,397
  27,631
  31,066
  34,696
  38,519
  42,531
  46,731
  51,118
  55,692
  60,456
  65,412
  70,566
  75,922
Total equity, $m
  236
  248
  383
  573
  832
  1,174
  1,614
  2,166
  2,845
  3,660
  4,623
  5,741
  7,019
  8,460
  10,066
  11,836
  13,768
  15,859
  18,107
  20,507
  23,056
  25,750
  28,587
  31,565
  34,682
  37,938
  41,333
  44,868
  48,546
  52,371
  56,346
Total liabilities and equity, $m
  444
  582
  900
  1,346
  1,953
  2,756
  3,789
  5,085
  6,678
  8,592
  10,852
  13,476
  16,476
  19,859
  23,629
  27,783
  32,319
  37,228
  42,504
  48,138
  54,122
  60,446
  67,106
  74,096
  81,413
  89,056
  97,025
  105,324
  113,958
  122,937
  132,268
Debt-to-equity ratio
  0.593
  1.070
  1.170
  1.230
  1.260
  1.290
  1.300
  1.320
  1.320
  1.330
  1.330
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.350
  1.350
  1.350
  1.350
  1.350
  1.350
  1.350
  1.350
  1.350
Adjusted equity ratio
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  23
  55
  88
  133
  196
  278
  383
  515
  676
  869
  1,097
  1,369
  1,670
  2,009
  2,387
  2,802
  3,255
  3,744
  4,270
  4,831
  5,426
  6,054
  6,716
  7,410
  8,136
  8,894
  9,685
  10,508
  11,364
  12,255
  13,180
Depreciation, amort., depletion, $m
  12
  24
  32
  42
  56
  75
  100
  130
  168
  213
  266
  318
  388
  468
  557
  655
  762
  878
  1,002
  1,135
  1,276
  1,425
  1,582
  1,747
  1,920
  2,100
  2,288
  2,483
  2,687
  2,899
  3,119
Funds from operations, $m
  36
  79
  119
  176
  252
  353
  483
  645
  844
  1,082
  1,364
  1,687
  2,059
  2,478
  2,944
  3,457
  4,017
  4,622
  5,272
  5,966
  6,702
  7,480
  8,298
  9,157
  10,056
  10,994
  11,973
  12,992
  14,051
  15,153
  16,299
Change in working capital, $m
  -3
  17
  25
  35
  48
  64
  82
  103
  127
  152
  180
  209
  239
  269
  300
  330
  361
  390
  420
  448
  476
  503
  530
  556
  582
  608
  634
  660
  687
  714
  742
Cash from operations, $m
  39
  62
  94
  140
  204
  289
  400
  542
  717
  930
  1,184
  1,478
  1,820
  2,209
  2,644
  3,127
  3,656
  4,232
  4,853
  5,518
  6,226
  6,977
  7,769
  8,601
  9,474
  10,387
  11,339
  12,332
  13,365
  14,439
  15,557
Maintenance CAPEX, $m
  0
  -9
  -14
  -21
  -32
  -46
  -65
  -89
  -120
  -157
  -203
  -256
  -318
  -388
  -468
  -557
  -655
  -762
  -878
  -1,002
  -1,135
  -1,276
  -1,425
  -1,582
  -1,747
  -1,920
  -2,100
  -2,288
  -2,483
  -2,687
  -2,899
New CAPEX, $m
  -6
  -82
  -119
  -167
  -228
  -301
  -387
  -486
  -597
  -718
  -847
  -984
  -1,125
  -1,268
  -1,413
  -1,558
  -1,700
  -1,841
  -1,978
  -2,112
  -2,243
  -2,371
  -2,497
  -2,621
  -2,743
  -2,865
  -2,988
  -3,111
  -3,237
  -3,366
  -3,499
Cash from investing activities, $m
  -170
  -91
  -133
  -188
  -260
  -347
  -452
  -575
  -717
  -875
  -1,050
  -1,240
  -1,443
  -1,656
  -1,881
  -2,115
  -2,355
  -2,603
  -2,856
  -3,114
  -3,378
  -3,647
  -3,922
  -4,203
  -4,490
  -4,785
  -5,088
  -5,399
  -5,720
  -6,053
  -6,398
Free cash flow, $m
  -131
  -29
  -39
  -48
  -56
  -58
  -52
  -34
  0
  55
  134
  238
  378
  552
  763
  1,012
  1,301
  1,629
  1,997
  2,403
  2,848
  3,329
  3,846
  4,398
  4,984
  5,602
  6,251
  6,932
  7,644
  8,386
  9,159
Issuance/(repayment) of debt, $m
  140
  125
  182
  256
  348
  461
  593
  744
  914
  1,099
  1,297
  1,506
  1,722
  1,942
  2,164
  2,385
  2,603
  2,818
  3,028
  3,234
  3,434
  3,631
  3,823
  4,012
  4,200
  4,387
  4,574
  4,764
  4,956
  5,153
  5,356
Issuance/(repurchase) of shares, $m
  1
  38
  48
  57
  63
  64
  57
  38
  2
  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  
  139
  163
  230
  313
  411
  525
  650
  782
  916
  1,099
  1,297
  1,506
  1,722
  1,942
  2,164
  2,385
  2,603
  2,818
  3,028
  3,234
  3,434
  3,631
  3,823
  4,012
  4,200
  4,387
  4,574
  4,764
  4,956
  5,153
  5,356
Total cash flow (excl. dividends), $m
  3
  135
  191
  264
  356
  467
  598
  748
  916
  1,154
  1,431
  1,745
  2,100
  2,494
  2,926
  3,397
  3,904
  4,447
  5,025
  5,637
  6,282
  6,960
  7,669
  8,411
  9,183
  9,988
  10,826
  11,696
  12,600
  13,540
  14,516
Retained Cash Flow (-), $m
  -14
  -93
  -135
  -190
  -259
  -342
  -440
  -552
  -678
  -816
  -963
  -1,118
  -1,278
  -1,441
  -1,606
  -1,770
  -1,932
  -2,092
  -2,248
  -2,400
  -2,549
  -2,694
  -2,837
  -2,978
  -3,117
  -3,256
  -3,395
  -3,535
  -3,678
  -3,825
  -3,975
Prev. year cash balance distribution, $m
 
  81
  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
 
  123
  56
  74
  97
  125
  158
  196
  238
  338
  468
  627
  822
  1,052
  1,321
  1,627
  1,972
  2,356
  2,778
  3,237
  3,733
  4,265
  4,832
  5,433
  6,067
  6,733
  7,431
  8,161
  8,922
  9,715
  10,540
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
 
  118
  51
  65
  80
  97
  115
  132
  149
  194
  246
  298
  351
  400
  443
  478
  501
  513
  512
  498
  474
  441
  401
  356
  309
  262
  217
  175
  138
  106
  79
Current shareholders' claim on cash, %
  100
  96.4
  93.6
  91.5
  90.0
  89.0
  88.3
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0
  88.0

Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics. Electronics market segment provides electronic control, display and instrumentation solutions for both recreational and off-highway vehicles, as well as stationary and power generation equipment and that offered under the brands of Enovation Controls, Murphy and Zero Off.

FINANCIAL RATIOS  of  Sun Hydraulics (SNHY)

Valuation Ratios
P/E Ratio 67
Price to Sales 7.8
Price to Book 6.5
Price to Tangible Book
Price to Cash Flow 39.5
Price to Free Cash Flow 46.7
Growth Rates
Sales Growth Rate -2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -19.7%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 59.3%
Total Debt to Equity 59.3%
Interest Coverage 0
Management Effectiveness
Return On Assets 6.7%
Ret/ On Assets - 3 Yr. Avg. 13.7%
Return On Total Capital 7.7%
Ret/ On T. Cap. - 3 Yr. Avg. 15.3%
Return On Equity 10%
Return On Equity - 3 Yr. Avg. 16.1%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 36%
Gross Margin - 3 Yr. Avg. 38.5%
EBITDA Margin 23.9%
EBITDA Margin - 3 Yr. Avg. 28.7%
Operating Margin 17.8%
Oper. Margin - 3 Yr. Avg. 23.1%
Pre-Tax Margin 17.8%
Pre-Tax Margin - 3 Yr. Avg. 23.7%
Net Profit Margin 11.7%
Net Profit Margin - 3 Yr. Avg. 15.8%
Effective Tax Rate 34.3%
Eff/ Tax Rate - 3 Yr. Avg. 33.4%
Payout Ratio 47.8%

SNHY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNHY stock intrinsic value calculation we used $197 million for the last fiscal year's total revenue generated by Sun Hydraulics. The default revenue input number comes from 2016 income statement of Sun Hydraulics. 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 SNHY stock valuation model: a) initial revenue growth rate of 60% 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 SNHY is calculated based on our internal credit rating of Sun Hydraulics, 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 Sun Hydraulics.
    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 SNHY stock the variable cost ratio is equal to 76.6%.

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 SNHY 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 Sun Hydraulics.

Corporate tax rate of 27% is the nominal tax rate for Sun Hydraulics. 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 SNHY 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 SNHY are equal to 69.3%.

Life of production assets of 15.9 years is the average useful life of capital assets used in Sun Hydraulics 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 SNHY is equal to 14.7%. 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 - $236 million for Sun Hydraulics - 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 26.974 million for Sun Hydraulics 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 Sun Hydraulics at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ Sun Hydraulics Is Stepping Up Its Game   [Nov-14-17 03:35PM  Motley Fool]
▶ Sun Hydraulics posts 3Q profit   [Nov-06-17 06:18PM  Associated Press]
▶ Banks, manufacturers lead Tampa Bay stocks in 3Q 2017   [Oct-02-17 05:13PM  American City Business Journals]
▶ Rexnord Trying To Close In On Key Technical Benchmark   [03:00AM  Investor's Business Daily]
▶ Sun Hydraulics Is Investing More in Growth in 2017   [Aug-08-17 06:03PM  Motley Fool]
▶ Sun Hydraulics posts 2Q profit   [Aug-07-17 10:44PM  Associated Press]
▶ ETFs with exposure to Sun Hydraulics Corp. : July 4, 2017   [Jul-04-17 03:29PM  Capital Cube]
▶ Sun Hydraulics posts 1Q profit   [May-08-17 05:50PM  Associated Press]
▶ Sun Hydraulics posts 4Q profit   [Feb-27-17 06:14PM  Associated Press]
▶ Hedge Funds Are Finally Buying Scientific Games Corp (SGMS) Again   [Dec-01-16 01:37PM  at Insider Monkey]
Financial statements of SNHY
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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