Intrinsic value of Sun Hydraulics - SNHY

Previous Close

$46.40

  Intrinsic Value

$260.43

stock screener

  Rating & Target

str. buy

+461%

  Value-price divergence*

-57%

Previous close

$46.40

 
Intrinsic value

$260.43

 
Up/down potential

+461%

 
Rating

str. buy

 
Value-price divergence*

-57%

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

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 1.2

 

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
  58.80
  53.42
  48.58
  44.22
  40.30
  36.77
  33.59
  30.73
  28.16
  25.84
  23.76
  21.88
  20.19
  18.68
  17.31
  16.08
  14.97
  13.97
  13.08
  12.27
  11.54
  10.89
  10.30
  9.77
  9.29
  8.86
  8.48
  8.13
  7.82
  7.53
Revenue, $m
  197
  313
  480
  713
  1,028
  1,443
  1,973
  2,636
  3,447
  4,417
  5,559
  6,879
  8,385
  10,078
  11,960
  14,030
  16,285
  18,723
  21,339
  24,129
  27,089
  30,216
  33,505
  36,956
  40,565
  44,335
  48,264
  52,355
  56,610
  61,035
  65,633
Variable operating expenses, $m
 
  234
  353
  519
  744
  1,039
  1,418
  1,891
  2,468
  3,161
  3,975
  4,906
  5,980
  7,188
  8,530
  10,006
  11,615
  13,353
  15,219
  17,209
  19,320
  21,550
  23,896
  26,357
  28,932
  31,620
  34,422
  37,340
  40,375
  43,530
  46,810
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
  234
  353
  519
  744
  1,039
  1,418
  1,891
  2,468
  3,161
  3,975
  4,906
  5,980
  7,188
  8,530
  10,006
  11,615
  13,353
  15,219
  17,209
  19,320
  21,550
  23,896
  26,357
  28,932
  31,620
  34,422
  37,340
  40,375
  43,530
  46,810
Operating income, $m
  34
  79
  127
  194
  285
  403
  556
  746
  978
  1,256
  1,584
  1,973
  2,405
  2,890
  3,430
  4,024
  4,670
  5,370
  6,120
  6,920
  7,769
  8,666
  9,609
  10,599
  11,634
  12,715
  13,842
  15,015
  16,235
  17,504
  18,823
EBITDA, $m
  46
  103
  159
  236
  340
  477
  652
  871
  1,139
  1,459
  1,836
  2,273
  2,770
  3,329
  3,951
  4,635
  5,380
  6,186
  7,050
  7,972
  8,950
  9,983
  11,069
  12,209
  13,402
  14,647
  15,945
  17,297
  18,703
  20,164
  21,684
Interest expense (income), $m
  0
  5
  9
  15
  24
  36
  51
  71
  95
  126
  162
  204
  253
  309
  372
  442
  519
  602
  693
  790
  894
  1,004
  1,120
  1,242
  1,370
  1,504
  1,644
  1,790
  1,942
  2,100
  2,264
Earnings before tax, $m
  35
  74
  118
  179
  260
  368
  504
  675
  883
  1,131
  1,422
  1,769
  2,152
  2,581
  3,058
  3,582
  4,152
  4,767
  5,427
  6,130
  6,875
  7,662
  8,489
  9,357
  10,264
  11,211
  12,198
  13,225
  14,294
  15,404
  16,559
Tax expense, $m
  12
  20
  32
  48
  70
  99
  136
  182
  238
  305
  384
  478
  581
  697
  826
  967
  1,121
  1,287
  1,465
  1,655
  1,856
  2,069
  2,292
  2,526
  2,771
  3,027
  3,293
  3,571
  3,859
  4,159
  4,471
Net income, $m
  23
  54
  86
  130
  190
  268
  368
  493
  644
  825
  1,038
  1,291
  1,571
  1,884
  2,232
  2,615
  3,031
  3,480
  3,962
  4,475
  5,019
  5,593
  6,197
  6,830
  7,493
  8,184
  8,904
  9,654
  10,434
  11,245
  12,088

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
  578
  887
  1,318
  1,901
  2,667
  3,648
  4,873
  6,371
  8,165
  10,275
  12,716
  15,498
  18,628
  22,107
  25,933
  30,102
  34,608
  39,444
  44,601
  50,073
  55,852
  61,932
  68,310
  74,982
  81,949
  89,212
  96,774
  104,640
  112,818
  121,318
Adjusted assets (=assets-cash), $m
  364
  578
  887
  1,318
  1,901
  2,667
  3,648
  4,873
  6,371
  8,165
  10,275
  12,716
  15,498
  18,628
  22,107
  25,933
  30,102
  34,608
  39,444
  44,601
  50,073
  55,852
  61,932
  68,310
  74,982
  81,949
  89,212
  96,774
  104,640
  112,818
  121,318
Revenue / Adjusted assets
  0.541
  0.542
  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
  217
  333
  494
  713
  1,000
  1,368
  1,827
  2,388
  3,061
  3,852
  4,767
  5,810
  6,984
  8,288
  9,723
  11,286
  12,975
  14,788
  16,722
  18,773
  20,939
  23,219
  25,610
  28,112
  30,724
  33,447
  36,282
  39,231
  42,297
  45,484
Working capital, $m
  110
  46
  71
  105
  151
  212
  290
  388
  507
  649
  817
  1,011
  1,233
  1,481
  1,758
  2,062
  2,394
  2,752
  3,137
  3,547
  3,982
  4,442
  4,925
  5,432
  5,963
  6,517
  7,095
  7,696
  8,322
  8,972
  9,648
Total debt, $m
  140
  263
  440
  688
  1,022
  1,462
  2,025
  2,728
  3,588
  4,617
  5,829
  7,230
  8,827
  10,623
  12,620
  14,817
  17,210
  19,796
  22,572
  25,532
  28,673
  31,990
  35,480
  39,141
  42,971
  46,970
  51,139
  55,479
  59,994
  64,689
  69,567
Total liabilities, $m
  208
  332
  509
  757
  1,091
  1,531
  2,094
  2,797
  3,657
  4,686
  5,898
  7,299
  8,896
  10,692
  12,689
  14,886
  17,279
  19,865
  22,641
  25,601
  28,742
  32,059
  35,549
  39,210
  43,040
  47,039
  51,208
  55,548
  60,063
  64,758
  69,636
Total equity, $m
  236
  246
  378
  562
  810
  1,136
  1,554
  2,076
  2,714
  3,478
  4,377
  5,417
  6,602
  7,936
  9,418
  11,047
  12,824
  14,743
  16,803
  19,000
  21,331
  23,793
  26,383
  29,100
  31,943
  34,910
  38,004
  41,226
  44,577
  48,060
  51,681
Total liabilities and equity, $m
  444
  578
  887
  1,319
  1,901
  2,667
  3,648
  4,873
  6,371
  8,164
  10,275
  12,716
  15,498
  18,628
  22,107
  25,933
  30,103
  34,608
  39,444
  44,601
  50,073
  55,852
  61,932
  68,310
  74,983
  81,949
  89,212
  96,774
  104,640
  112,818
  121,317
Debt-to-equity ratio
  0.593
  1.070
  1.160
  1.220
  1.260
  1.290
  1.300
  1.310
  1.320
  1.330
  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
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
  54
  86
  130
  190
  268
  368
  493
  644
  825
  1,038
  1,291
  1,571
  1,884
  2,232
  2,615
  3,031
  3,480
  3,962
  4,475
  5,019
  5,593
  6,197
  6,830
  7,493
  8,184
  8,904
  9,654
  10,434
  11,245
  12,088
Depreciation, amort., depletion, $m
  12
  24
  31
  41
  55
  73
  96
  125
  161
  203
  253
  300
  365
  439
  521
  611
  710
  816
  930
  1,052
  1,181
  1,317
  1,460
  1,611
  1,768
  1,932
  2,104
  2,282
  2,467
  2,660
  2,861
Funds from operations, $m
  36
  78
  117
  172
  245
  342
  465
  618
  805
  1,028
  1,291
  1,591
  1,936
  2,324
  2,754
  3,226
  3,741
  4,296
  4,892
  5,527
  6,200
  6,910
  7,658
  8,441
  9,261
  10,116
  11,008
  11,936
  12,902
  13,905
  14,949
Change in working capital, $m
  -3
  17
  25
  34
  46
  61
  78
  97
  119
  143
  168
  194
  221
  249
  277
  304
  332
  358
  385
  410
  435
  460
  484
  507
  531
  554
  578
  601
  626
  650
  676
Cash from operations, $m
  39
  61
  93
  138
  199
  281
  387
  520
  686
  886
  1,123
  1,397
  1,715
  2,075
  2,477
  2,922
  3,409
  3,938
  4,507
  5,116
  5,765
  6,451
  7,174
  7,934
  8,730
  9,562
  10,430
  11,335
  12,276
  13,255
  14,273
Maintenance CAPEX, $m
  0
  -9
  -14
  -21
  -31
  -45
  -63
  -86
  -115
  -150
  -193
  -242
  -300
  -365
  -439
  -521
  -611
  -710
  -816
  -930
  -1,052
  -1,181
  -1,317
  -1,460
  -1,611
  -1,768
  -1,932
  -2,104
  -2,282
  -2,467
  -2,660
New CAPEX, $m
  -6
  -80
  -116
  -162
  -219
  -287
  -368
  -459
  -561
  -673
  -791
  -915
  -1,043
  -1,173
  -1,304
  -1,434
  -1,563
  -1,689
  -1,813
  -1,934
  -2,051
  -2,167
  -2,280
  -2,391
  -2,502
  -2,612
  -2,723
  -2,835
  -2,949
  -3,066
  -3,187
Cash from investing activities, $m
  -170
  -89
  -130
  -183
  -250
  -332
  -431
  -545
  -676
  -823
  -984
  -1,157
  -1,343
  -1,538
  -1,743
  -1,955
  -2,174
  -2,399
  -2,629
  -2,864
  -3,103
  -3,348
  -3,597
  -3,851
  -4,113
  -4,380
  -4,655
  -4,939
  -5,231
  -5,533
  -5,847
Free cash flow, $m
  -131
  -28
  -37
  -45
  -51
  -51
  -44
  -25
  9
  63
  139
  240
  372
  536
  734
  966
  1,235
  1,539
  1,878
  2,253
  2,662
  3,103
  3,577
  4,082
  4,618
  5,182
  5,775
  6,396
  7,045
  7,722
  8,426
Issuance/(repayment) of debt, $m
  140
  123
  177
  247
  335
  440
  563
  703
  860
  1,030
  1,211
  1,401
  1,597
  1,797
  1,997
  2,196
  2,393
  2,586
  2,776
  2,960
  3,141
  3,317
  3,490
  3,661
  3,830
  3,999
  4,169
  4,340
  4,515
  4,694
  4,879
Issuance/(repurchase) of shares, $m
  1
  37
  45
  53
  58
  58
  50
  29
  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  
  139
  160
  222
  300
  393
  498
  613
  732
  860
  1,030
  1,211
  1,401
  1,597
  1,797
  1,997
  2,196
  2,393
  2,586
  2,776
  2,960
  3,141
  3,317
  3,490
  3,661
  3,830
  3,999
  4,169
  4,340
  4,515
  4,694
  4,879
Total cash flow (excl. dividends), $m
  3
  132
  186
  256
  342
  446
  569
  708
  869
  1,093
  1,351
  1,641
  1,969
  2,332
  2,730
  3,162
  3,628
  4,125
  4,654
  5,213
  5,802
  6,420
  7,068
  7,743
  8,448
  9,181
  9,944
  10,737
  11,560
  12,416
  13,305
Retained Cash Flow (-), $m
  -14
  -91
  -132
  -184
  -248
  -326
  -418
  -522
  -638
  -764
  -899
  -1,040
  -1,185
  -1,333
  -1,482
  -1,630
  -1,776
  -1,920
  -2,060
  -2,197
  -2,331
  -2,462
  -2,590
  -2,717
  -2,843
  -2,968
  -3,094
  -3,221
  -3,351
  -3,484
  -3,621
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
 
  122
  55
  72
  94
  120
  151
  186
  231
  328
  452
  601
  784
  999
  1,248
  1,533
  1,852
  2,206
  2,594
  3,016
  3,471
  3,959
  4,477
  5,026
  5,605
  6,213
  6,850
  7,515
  8,209
  8,932
  9,684
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
 
  117
  50
  63
  77
  93
  109
  126
  144
  189
  237
  285
  334
  380
  419
  450
  471
  480
  478
  464
  441
  409
  372
  329
  285
  242
  200
  161
  127
  98
  73
Current shareholders' claim on cash, %
  100
  95.5
  92.2
  89.7
  87.9
  86.7
  86.0
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7
  85.7

Sun Hydraulics Corporation designs, manufactures, and sells screw-in cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems to industrial and mobile customers worldwide. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems. The company offers various screw-in hydraulic cartridge valves, including electrically actuated and non-electrically actuated products; manifolds that are machined to create threaded cavities and channels; integrated package, which consists of multiple cartridge valves assembled into a custom designed manifold; and electronic controllers that manage the function of electrically actuated valves. Its products are used in construction, agricultural, mining, and fire and rescue and other utility equipment, as well as in automation machinery, presses, and plastics machinery. The company sells its products primarily through independent fluid power distributors, as well as directly to other companies in the hydraulics industry. Sun Hydraulics Corporation was founded in 1970 and is based in Sarasota, Florida.

FINANCIAL RATIOS  of  Sun Hydraulics (SNHY)

Valuation Ratios
P/E Ratio 54.3
Price to Sales 6.3
Price to Book 5.3
Price to Tangible Book
Price to Cash Flow 32.1
Price to Free Cash Flow 37.9
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 58.8% 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 25.95 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 $1.2 billion.

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COMPANY NEWS

▶ 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]
▶ Sarasota manufacturer back in the M&A game   [08:05AM  at bizjournals.com]
Stock chart of SNHY 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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