Intrinsic value of Scripps Networks Interactive Cl A - SNI

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$75.15

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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$75.15

 
Intrinsic value

$68.74

 
Up/down potential

-9%

 
Rating

hold

 
Value-price divergence* premium content

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

We calculate the intrinsic value of SNI 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 9.7

 

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, %
  12.69
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  3,401
  3,547
  3,702
  3,866
  4,040
  4,223
  4,417
  4,622
  4,837
  5,064
  5,304
  5,556
  5,822
  6,101
  6,396
  6,705
  7,031
  7,373
  7,733
  8,112
  8,510
  8,928
  9,367
  9,829
  10,315
  10,825
  11,360
  11,923
  12,515
  13,136
  13,788
Variable operating expenses, $m
 
  2,242
  2,333
  2,429
  2,530
  2,638
  2,751
  2,871
  2,997
  3,131
  3,271
  3,254
  3,410
  3,574
  3,746
  3,927
  4,118
  4,319
  4,529
  4,751
  4,984
  5,229
  5,487
  5,757
  6,042
  6,340
  6,654
  6,984
  7,330
  7,694
  8,076
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
  2,253
  2,242
  2,333
  2,429
  2,530
  2,638
  2,751
  2,871
  2,997
  3,131
  3,271
  3,254
  3,410
  3,574
  3,746
  3,927
  4,118
  4,319
  4,529
  4,751
  4,984
  5,229
  5,487
  5,757
  6,042
  6,340
  6,654
  6,984
  7,330
  7,694
  8,076
Operating income, $m
  1,149
  1,305
  1,370
  1,438
  1,509
  1,585
  1,666
  1,750
  1,840
  1,934
  2,033
  2,302
  2,412
  2,528
  2,650
  2,778
  2,913
  3,055
  3,204
  3,361
  3,525
  3,699
  3,881
  4,072
  4,273
  4,484
  4,706
  4,940
  5,185
  5,442
  5,712
EBITDA, $m
  1,344
  1,578
  1,647
  1,720
  1,797
  1,879
  1,965
  2,056
  2,152
  2,253
  2,360
  2,472
  2,590
  2,715
  2,845
  2,983
  3,128
  3,280
  3,441
  3,609
  3,786
  3,972
  4,168
  4,373
  4,589
  4,816
  5,054
  5,305
  5,568
  5,844
  6,135
Interest expense (income), $m
  131
  111
  117
  124
  131
  139
  147
  156
  165
  174
  184
  195
  206
  218
  230
  243
  257
  271
  286
  302
  319
  336
  355
  374
  395
  416
  439
  462
  487
  513
  541
Earnings before tax, $m
  1,278
  1,195
  1,252
  1,314
  1,378
  1,447
  1,519
  1,595
  1,675
  1,760
  1,849
  2,107
  2,206
  2,310
  2,420
  2,535
  2,656
  2,784
  2,918
  3,059
  3,207
  3,362
  3,526
  3,698
  3,879
  4,068
  4,268
  4,477
  4,698
  4,929
  5,172
Tax expense, $m
  431
  323
  338
  355
  372
  391
  410
  431
  452
  475
  499
  569
  596
  624
  653
  684
  717
  752
  788
  826
  866
  908
  952
  998
  1,047
  1,098
  1,152
  1,209
  1,268
  1,331
  1,396
Net income, $m
  674
  872
  914
  959
  1,006
  1,056
  1,109
  1,164
  1,223
  1,285
  1,350
  1,538
  1,610
  1,686
  1,766
  1,850
  1,939
  2,032
  2,130
  2,233
  2,341
  2,455
  2,574
  2,699
  2,831
  2,970
  3,116
  3,269
  3,429
  3,598
  3,775

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  123
  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
  6,200
  6,334
  6,611
  6,904
  7,214
  7,542
  7,888
  8,253
  8,638
  9,044
  9,471
  9,922
  10,396
  10,895
  11,421
  11,973
  12,555
  13,166
  13,809
  14,485
  15,196
  15,943
  16,727
  17,552
  18,419
  19,330
  20,287
  21,292
  22,348
  23,457
  24,622
Adjusted assets (=assets-cash), $m
  6,077
  6,334
  6,611
  6,904
  7,214
  7,542
  7,888
  8,253
  8,638
  9,044
  9,471
  9,922
  10,396
  10,895
  11,421
  11,973
  12,555
  13,166
  13,809
  14,485
  15,196
  15,943
  16,727
  17,552
  18,419
  19,330
  20,287
  21,292
  22,348
  23,457
  24,622
Revenue / Adjusted assets
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
Average production assets, $m
  1,980
  2,064
  2,155
  2,250
  2,351
  2,458
  2,571
  2,690
  2,815
  2,948
  3,087
  3,234
  3,388
  3,551
  3,722
  3,902
  4,092
  4,291
  4,501
  4,721
  4,953
  5,196
  5,452
  5,721
  6,003
  6,300
  6,612
  6,939
  7,284
  7,645
  8,025
Working capital, $m
  941
  1,114
  1,163
  1,214
  1,269
  1,326
  1,387
  1,451
  1,519
  1,590
  1,665
  1,745
  1,828
  1,916
  2,008
  2,105
  2,208
  2,315
  2,428
  2,547
  2,672
  2,803
  2,941
  3,086
  3,239
  3,399
  3,567
  3,744
  3,930
  4,125
  4,330
Total debt, $m
  3,202
  3,254
  3,444
  3,645
  3,858
  4,083
  4,321
  4,572
  4,836
  5,115
  5,409
  5,718
  6,044
  6,387
  6,748
  7,128
  7,527
  7,947
  8,389
  8,853
  9,341
  9,855
  10,394
  10,960
  11,556
  12,182
  12,839
  13,529
  14,255
  15,017
  15,817
Total liabilities, $m
  4,301
  4,352
  4,542
  4,743
  4,956
  5,181
  5,419
  5,670
  5,934
  6,213
  6,507
  6,816
  7,142
  7,485
  7,846
  8,226
  8,625
  9,045
  9,487
  9,951
  10,439
  10,953
  11,492
  12,058
  12,654
  13,280
  13,937
  14,627
  15,353
  16,115
  16,915
Total equity, $m
  1,900
  1,983
  2,069
  2,161
  2,258
  2,361
  2,469
  2,583
  2,704
  2,831
  2,965
  3,106
  3,254
  3,410
  3,575
  3,748
  3,930
  4,121
  4,322
  4,534
  4,756
  4,990
  5,236
  5,494
  5,765
  6,050
  6,350
  6,664
  6,995
  7,342
  7,707
Total liabilities and equity, $m
  6,201
  6,335
  6,611
  6,904
  7,214
  7,542
  7,888
  8,253
  8,638
  9,044
  9,472
  9,922
  10,396
  10,895
  11,421
  11,974
  12,555
  13,166
  13,809
  14,485
  15,195
  15,943
  16,728
  17,552
  18,419
  19,330
  20,287
  21,291
  22,348
  23,457
  24,622
Debt-to-equity ratio
  1.685
  1.640
  1.660
  1.690
  1.710
  1.730
  1.750
  1.770
  1.790
  1.810
  1.820
  1.840
  1.860
  1.870
  1.890
  1.900
  1.920
  1.930
  1.940
  1.950
  1.960
  1.970
  1.990
  2.000
  2.000
  2.010
  2.020
  2.030
  2.040
  2.050
  2.050
Adjusted equity ratio
  0.292
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  674
  872
  914
  959
  1,006
  1,056
  1,109
  1,164
  1,223
  1,285
  1,350
  1,538
  1,610
  1,686
  1,766
  1,850
  1,939
  2,032
  2,130
  2,233
  2,341
  2,455
  2,574
  2,699
  2,831
  2,970
  3,116
  3,269
  3,429
  3,598
  3,775
Depreciation, amort., depletion, $m
  195
  273
  278
  283
  288
  294
  300
  306
  312
  319
  327
  170
  178
  187
  196
  205
  215
  226
  237
  248
  261
  273
  287
  301
  316
  332
  348
  365
  383
  402
  422
Funds from operations, $m
  1,024
  1,145
  1,192
  1,242
  1,294
  1,350
  1,408
  1,470
  1,535
  1,604
  1,676
  1,708
  1,789
  1,873
  1,962
  2,056
  2,154
  2,258
  2,367
  2,481
  2,602
  2,728
  2,861
  3,001
  3,147
  3,302
  3,464
  3,634
  3,813
  4,000
  4,198
Change in working capital, $m
  75
  46
  49
  52
  55
  58
  61
  64
  68
  71
  75
  79
  83
  88
  92
  97
  102
  108
  113
  119
  125
  131
  138
  145
  152
  160
  168
  177
  186
  195
  205
Cash from operations, $m
  949
  999
  1,143
  1,190
  1,240
  1,292
  1,347
  1,406
  1,468
  1,533
  1,601
  1,629
  1,705
  1,785
  1,870
  1,959
  2,052
  2,150
  2,254
  2,362
  2,477
  2,597
  2,723
  2,856
  2,995
  3,141
  3,295
  3,457
  3,627
  3,805
  3,993
Maintenance CAPEX, $m
  0
  -104
  -109
  -113
  -118
  -124
  -129
  -135
  -142
  -148
  -155
  -162
  -170
  -178
  -187
  -196
  -205
  -215
  -226
  -237
  -248
  -261
  -273
  -287
  -301
  -316
  -332
  -348
  -365
  -383
  -402
New CAPEX, $m
  -86
  -85
  -90
  -96
  -101
  -107
  -113
  -119
  -125
  -132
  -139
  -147
  -155
  -163
  -171
  -180
  -189
  -199
  -210
  -220
  -232
  -243
  -256
  -269
  -282
  -297
  -312
  -328
  -344
  -362
  -380
Cash from investing activities, $m
  141
  -189
  -199
  -209
  -219
  -231
  -242
  -254
  -267
  -280
  -294
  -309
  -325
  -341
  -358
  -376
  -394
  -414
  -436
  -457
  -480
  -504
  -529
  -556
  -583
  -613
  -644
  -676
  -709
  -745
  -782
Free cash flow, $m
  1,090
  810
  944
  981
  1,020
  1,061
  1,105
  1,152
  1,200
  1,252
  1,307
  1,320
  1,381
  1,444
  1,512
  1,583
  1,657
  1,736
  1,818
  1,905
  1,997
  2,093
  2,194
  2,300
  2,411
  2,529
  2,652
  2,781
  2,917
  3,060
  3,211
Issuance/(repayment) of debt, $m
  -415
  175
  190
  201
  213
  225
  238
  251
  265
  279
  294
  309
  326
  343
  361
  380
  399
  420
  442
  464
  488
  513
  539
  567
  595
  626
  657
  691
  725
  762
  800
Issuance/(repurchase) of shares, $m
  15
  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 from financing (excl. dividends), $m  
  -1,045
  175
  190
  201
  213
  225
  238
  251
  265
  279
  294
  309
  326
  343
  361
  380
  399
  420
  442
  464
  488
  513
  539
  567
  595
  626
  657
  691
  725
  762
  800
Total cash flow (excl. dividends), $m
  29
  985
  1,135
  1,182
  1,233
  1,287
  1,343
  1,402
  1,465
  1,531
  1,601
  1,629
  1,706
  1,787
  1,873
  1,962
  2,057
  2,156
  2,260
  2,370
  2,485
  2,606
  2,733
  2,866
  3,007
  3,154
  3,309
  3,472
  3,643
  3,822
  4,011
Retained Cash Flow (-), $m
  -376
  -83
  -87
  -92
  -97
  -103
  -108
  -114
  -121
  -127
  -134
  -141
  -148
  -156
  -164
  -173
  -182
  -191
  -201
  -212
  -222
  -234
  -246
  -258
  -271
  -285
  -299
  -315
  -331
  -347
  -365
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
 
  902
  1,048
  1,091
  1,136
  1,184
  1,235
  1,288
  1,344
  1,404
  1,467
  1,488
  1,558
  1,631
  1,708
  1,789
  1,875
  1,964
  2,059
  2,158
  2,262
  2,372
  2,487
  2,608
  2,736
  2,869
  3,010
  3,157
  3,312
  3,475
  3,646
Discount rate, %
 
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
 
  834
  888
  841
  790
  736
  679
  621
  561
  502
  443
  375
  323
  273
  228
  187
  151
  120
  93
  70
  52
  38
  27
  19
  12
  8
  5
  3
  2
  1
  1
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
  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

Scripps Networks Interactive, Inc. develops lifestyle-oriented content in the United States, the United Kingdom and other European markets, the Middle East and Africa, the Asia-Pacific, and Latin America. The company delivers content that focuses on specifically defined topics of interest for audiences and advertisers. It operates national television networks, including HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel, and Great American Country; and Websites comprising HGTV.com, Foodnetwork.com, Travelchannel.com, DIYNetwork.com, Cookingchanneltv.com, and Greatamericancountry.com that are associated with the aforementioned television brands and other Internet and digital businesses serving home, food, travel, and other lifestyle-related categories. The company also operates a portfolio of free-to-air and pay-TV lifestyle, and entertainment networks internationally, including TVN, TVN24, TVN Style, TTV, TVN Turbo, TVN24 Biznes i Swiat, and TVN Media, as well as distributes HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel, Asian Food Channel, and Fine Living Network. In addition, it licenses its content to third parties; and brands for consumer products. Scripps Networks Interactive, Inc. is headquartered in Knoxville, Tennessee.

FINANCIAL RATIOS  of  Scripps Networks Interactive Cl A (SNI)

Valuation Ratios
P/E Ratio 14.4
Price to Sales 2.9
Price to Book 5.1
Price to Tangible Book
Price to Cash Flow 10.2
Price to Free Cash Flow 11.3
Growth Rates
Sales Growth Rate 12.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 65.4%
Cap. Spend. - 3 Yr. Gr. Rate 3.3%
Financial Strength
Quick Ratio 0
Current Ratio 0.8
LT Debt to Equity 155.4%
Total Debt to Equity 168.5%
Interest Coverage 11
Management Effectiveness
Return On Assets 11.8%
Ret/ On Assets - 3 Yr. Avg. 12.1%
Return On Total Capital 12.7%
Ret/ On T. Cap. - 3 Yr. Avg. 13.6%
Return On Equity 39.4%
Return On Equity - 3 Yr. Avg. 37.5%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 64.9%
Gross Margin - 3 Yr. Avg. 68.2%
EBITDA Margin 47.2%
EBITDA Margin - 3 Yr. Avg. 45.7%
Operating Margin 33.8%
Oper. Margin - 3 Yr. Avg. 35.9%
Pre-Tax Margin 37.6%
Pre-Tax Margin - 3 Yr. Avg. 37.8%
Net Profit Margin 19.8%
Net Profit Margin - 3 Yr. Avg. 20.1%
Effective Tax Rate 33.7%
Eff/ Tax Rate - 3 Yr. Avg. 31.2%
Payout Ratio 19.3%

SNI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNI stock intrinsic value calculation we used $3401 million for the last fiscal year's total revenue generated by Scripps Networks Interactive Cl A. The default revenue input number comes from 2016 income statement of Scripps Networks Interactive Cl A. 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 SNI stock valuation model: a) initial revenue growth rate of 4.3% 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 8.2%, whose default value for SNI is calculated based on our internal credit rating of Scripps Networks Interactive Cl A, 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 Scripps Networks Interactive Cl A.
    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 SNI stock the variable cost ratio is equal to 63.4%.

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 SNI 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 3.6% for Scripps Networks Interactive Cl A.

Corporate tax rate of 27% is the nominal tax rate for Scripps Networks Interactive Cl A. 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 SNI 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 SNI are equal to 58.2%.

Life of production assets of 19 years is the average useful life of capital assets used in Scripps Networks Interactive Cl A 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 SNI is equal to 31.4%. 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 - $1900 million for Scripps Networks Interactive Cl A - 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 129.259 million for Scripps Networks Interactive Cl A 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 Scripps Networks Interactive Cl A at the current share price and the inputted number of shares is $9.7 billion.


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Stock chart of SNI Financial statements of SNI
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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