Intrinsic value of Sonus Networks - SONS

Previous Close

$6.84

  Intrinsic Value

$0.86

stock screener

  Rating & Target

str. sell

-87%

  Value-price divergence*

+32%

Previous close

$6.84

 
Intrinsic value

$0.86

 
Up/down potential

-87%

 
Rating

str. sell

 
Value-price divergence*

+32%

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

We calculate the intrinsic value of SONS 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 0.3

 

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, %
  1.61
  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
  253
  258
  264
  271
  278
  287
  296
  306
  317
  329
  341
  355
  369
  385
  401
  418
  437
  456
  477
  498
  521
  545
  571
  598
  626
  656
  687
  720
  755
  791
  830
Variable operating expenses, $m
 
  290
  296
  304
  312
  321
  332
  343
  355
  368
  382
  392
  408
  425
  443
  462
  482
  503
  526
  550
  575
  602
  630
  660
  691
  724
  758
  795
  833
  873
  916
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
  266
  290
  296
  304
  312
  321
  332
  343
  355
  368
  382
  392
  408
  425
  443
  462
  482
  503
  526
  550
  575
  602
  630
  660
  691
  724
  758
  795
  833
  873
  916
Operating income, $m
  -14
  -32
  -32
  -33
  -34
  -35
  -36
  -37
  -38
  -39
  -40
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
EBITDA, $m
  2
  -23
  -23
  -24
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -58
  -60
  -63
  -66
  -70
  -73
Interest expense (income), $m
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  7
Earnings before tax, $m
  -11
  -32
  -32
  -33
  -34
  -35
  -36
  -37
  -38
  -40
  -41
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -80
  -84
  -88
  -93
Tax expense, $m
  3
  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
Net income, $m
  -14
  -32
  -32
  -33
  -34
  -35
  -36
  -37
  -38
  -40
  -41
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -80
  -84
  -88
  -93

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  94
  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
  308
  218
  223
  229
  236
  243
  251
  259
  268
  278
  289
  300
  313
  325
  339
  354
  369
  386
  403
  422
  441
  461
  483
  506
  530
  555
  581
  609
  639
  670
  702
Adjusted assets (=assets-cash), $m
  214
  218
  223
  229
  236
  243
  251
  259
  268
  278
  289
  300
  313
  325
  339
  354
  369
  386
  403
  422
  441
  461
  483
  506
  530
  555
  581
  609
  639
  670
  702
Revenue / Adjusted assets
  1.182
  1.183
  1.184
  1.183
  1.178
  1.181
  1.179
  1.181
  1.183
  1.183
  1.180
  1.183
  1.179
  1.185
  1.183
  1.181
  1.184
  1.181
  1.184
  1.180
  1.181
  1.182
  1.182
  1.182
  1.181
  1.182
  1.182
  1.182
  1.182
  1.181
  1.182
Average production assets, $m
  40
  41
  42
  43
  44
  45
  47
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  75
  79
  82
  86
  90
  94
  99
  104
  109
  114
  119
  125
  131
Working capital, $m
  101
  8
  8
  9
  9
  9
  9
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  27
Total debt, $m
  1
  2
  4
  6
  9
  12
  15
  18
  22
  26
  31
  35
  40
  46
  51
  57
  64
  71
  78
  85
  93
  102
  110
  120
  130
  140
  151
  162
  174
  187
  201
Total liabilities, $m
  89
  90
  92
  94
  97
  100
  103
  106
  110
  114
  119
  123
  128
  134
  139
  145
  152
  159
  166
  173
  181
  190
  198
  208
  218
  228
  239
  250
  262
  275
  289
Total equity, $m
  219
  129
  132
  135
  139
  143
  148
  153
  158
  164
  170
  177
  184
  192
  200
  208
  218
  227
  237
  248
  260
  272
  284
  298
  312
  327
  342
  359
  376
  394
  414
Total liabilities and equity, $m
  308
  219
  224
  229
  236
  243
  251
  259
  268
  278
  289
  300
  312
  326
  339
  353
  370
  386
  403
  421
  441
  462
  482
  506
  530
  555
  581
  609
  638
  669
  703
Debt-to-equity ratio
  0.005
  0.010
  0.030
  0.050
  0.060
  0.080
  0.100
  0.120
  0.140
  0.160
  0.180
  0.200
  0.220
  0.240
  0.260
  0.280
  0.290
  0.310
  0.330
  0.340
  0.360
  0.370
  0.390
  0.400
  0.420
  0.430
  0.440
  0.450
  0.460
  0.470
  0.490
Adjusted equity ratio
  0.584
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589
  0.589

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -14
  -32
  -32
  -33
  -34
  -35
  -36
  -37
  -38
  -40
  -41
  -38
  -40
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
  -80
  -84
  -88
  -93
Depreciation, amort., depletion, $m
  16
  9
  9
  9
  9
  9
  10
  10
  10
  10
  10
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  13
  13
Funds from operations, $m
  17
  -23
  -23
  -24
  -25
  -26
  -26
  -27
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -39
  -40
  -42
  -44
  -46
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -69
  -72
  -76
  -79
Change in working capital, $m
  -2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Cash from operations, $m
  19
  -23
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -55
  -57
  -60
  -63
  -66
  -70
  -73
  -77
  -81
Maintenance CAPEX, $m
  0
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
New CAPEX, $m
  -5
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
Cash from investing activities, $m
  -27
  -5
  -5
  -5
  -5
  -5
  -6
  -7
  -7
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -10
  -11
  -12
  -12
  -13
  -13
  -13
  -15
  -15
  -16
  -16
  -18
  -19
Free cash flow, $m
  -8
  -28
  -28
  -29
  -30
  -32
  -33
  -34
  -35
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -64
  -67
  -70
  -74
  -78
  -82
  -86
  -90
  -94
  -99
Issuance/(repayment) of debt, $m
  0
  2
  2
  2
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
Issuance/(repurchase) of shares, $m
  -8
  34
  35
  36
  38
  39
  41
  42
  44
  46
  47
  45
  47
  49
  51
  54
  56
  59
  62
  65
  68
  72
  75
  79
  83
  87
  92
  96
  101
  106
  112
Cash from financing (excl. dividends), $m  
  -10
  36
  37
  38
  41
  42
  44
  46
  48
  50
  51
  50
  52
  54
  57
  60
  62
  66
  69
  73
  76
  80
  84
  88
  93
  97
  103
  107
  113
  119
  125
Total cash flow (excl. dividends), $m
  -18
  8
  9
  9
  10
  11
  11
  12
  12
  13
  13
  9
  10
  10
  11
  12
  12
  13
  14
  15
  15
  16
  17
  18
  19
  20
  21
  22
  23
  25
  26
Retained Cash Flow (-), $m
  4
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -47
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -68
  -72
  -75
  -79
  -83
  -87
  -92
  -96
  -101
  -106
  -112
Prev. year cash balance distribution, $m
 
  93
  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
 
  67
  -26
  -27
  -28
  -29
  -29
  -31
  -32
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -58
  -61
  -64
  -67
  -71
  -74
  -78
  -82
  -86
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
 
  64
  -24
  -24
  -23
  -22
  -21
  -21
  -20
  -19
  -18
  -17
  -16
  -15
  -14
  -12
  -11
  -10
  -9
  -8
  -7
  -6
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  100
  85.0
  72.2
  61.2
  51.8
  43.8
  37.0
  31.2
  26.3
  22.2
  18.7
  16.0
  13.6
  11.6
  9.9
  8.4
  7.2
  6.1
  5.2
  4.4
  3.7
  3.2
  2.7
  2.3
  1.9
  1.6
  1.4
  1.2
  1.0
  0.8
  0.7

Sonus Networks, Inc. provides networked solutions for communications service providers and enterprises. Its solutions include Session Border Controllers (SBC) that address security and interworking requirements for small, medium, and large businesses, as well as regional and global communications service providers; GSX9000 Open Services Switch, which bridges IP and TDM networks by converting voice signal into IP packets and transmitting those IP packets over a data network; Diameter Signaling Controller, a solution for 4G/long term evolution networks; Signal Transfer Points that acts as the switch/router in an SS7 signaling network; and Sonus PSX Policy & Routing Server, a central routing and policy engine for its soft switch and distributed SBC solutions. Its solutions also include WebRTC (Real-Time Communications) services solution, a technology that enables Web browsers to participate in audio, video, and data communications; Cloud Exchange Network Applications (VellOS), a cloud exchange networking solution; and Network Management Solutions, a solution to manage and integrate networked solutions with internal provisioning and billing systems. In addition, the company provides professional consulting and services, such as design, integration, deployment, migration, operation support, monitoring, managed services, training, interoperability/verification testing, and technical support services. It serves long distance carriers, local exchange carriers, Internet service providers, wireless operators, cable operators, telephone companies, and carriers that provide services to other carriers through direct sales and indirect channels. Sonus Networks, Inc. was founded in 1997 and is headquartered in Westford, Massachusetts.

FINANCIAL RATIOS  of  Sonus Networks (SONS)

Valuation Ratios
P/E Ratio -24
Price to Sales 1.3
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 17.7
Price to Free Cash Flow 24
Growth Rates
Sales Growth Rate 1.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -37.5%
Cap. Spend. - 3 Yr. Gr. Rate -6.5%
Financial Strength
Quick Ratio 94
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0.5%
Interest Coverage 0
Management Effectiveness
Return On Assets -4.5%
Ret/ On Assets - 3 Yr. Avg. -6.3%
Return On Total Capital -6.3%
Ret/ On T. Cap. - 3 Yr. Avg. -8.7%
Return On Equity -6.3%
Return On Equity - 3 Yr. Avg. -8.8%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 66.4%
Gross Margin - 3 Yr. Avg. 65.6%
EBITDA Margin 2%
EBITDA Margin - 3 Yr. Avg. -0.7%
Operating Margin -5.1%
Oper. Margin - 3 Yr. Avg. -7.9%
Pre-Tax Margin -4.3%
Pre-Tax Margin - 3 Yr. Avg. -7.2%
Net Profit Margin -5.5%
Net Profit Margin - 3 Yr. Avg. -8%
Effective Tax Rate -27.3%
Eff/ Tax Rate - 3 Yr. Avg. -15.8%
Payout Ratio 0%

SONS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SONS stock intrinsic value calculation we used $253 million for the last fiscal year's total revenue generated by Sonus Networks. The default revenue input number comes from 2016 income statement of Sonus Networks. 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 SONS 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 4.3%, whose default value for SONS is calculated based on our internal credit rating of Sonus Networks, 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 Sonus Networks.
    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 SONS stock the variable cost ratio is equal to 112.3%.

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 SONS 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 Sonus Networks.

Corporate tax rate of 27% is the nominal tax rate for Sonus Networks. 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 SONS 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 SONS are equal to 15.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Sonus Networks 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 SONS is equal to 3.2%. 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 - $219 million for Sonus Networks - 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 49.437 million for Sonus Networks 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 Sonus Networks at the current share price and the inputted number of shares is $0.3 billion.

RELATED COMPANIES Price Int.Val. Rating
CSCO Cisco Systems 30.37 41.04  buy
JNPR Juniper Networ 27.16 68.24  str.buy
AUDC AudioCodes 6.67 13.59  str.buy
HPQ HP 18.51 13.95  sell
ORCL Oracle 48.62 53.68  hold
ADTN Adtran 21.60 145.13  str.buy
ERIC Ericsson ADR 6.00 6.29  hold

COMPANY NEWS

▶ Sonus reports 2Q loss   [08:27AM  Associated Press]
▶ Why Shares of Sonus Networks Inc. Rose 10% in June   [Jul-11-17 01:24PM  Motley Fool]
▶ Sonus Redefines Enterprise Communications Security   [Jun-13-17 08:41PM  PR Newswire]
▶ Why Sonus Networks, Inc. Fell 12% in May   [Jun-06-17 09:00AM  Motley Fool]
▶ ETFs with exposure to Sonus Networks, Inc. : May 25, 2017   [May-25-17 12:48PM  Capital Cube]
▶ Sonus Announces New Clients, but Revenue Falls   [May-17-17 09:24PM  Motley Fool]
▶ Here's How Sonus Networks, Inc. Stock Soared in April   [May-09-17 08:23PM  Motley Fool]
▶ ETFs with exposure to Sonus Networks, Inc. : May 2, 2017   [May-02-17 04:38PM  Capital Cube]
▶ Why Shares of Sonus Networks Soared Today   [Apr-26-17 05:06PM  Motley Fool]
▶ Sonus reports 1Q loss   [07:58AM  Associated Press]
▶ Sonus and Palo Alto Networks Team Up For Mobile Security   [Apr-22-17 07:48AM  Motley Fool]
▶ How Sonus Networks, Inc. Gained 12% in March   [Apr-06-17 05:35PM  Motley Fool]
▶ Sonus reports 4Q loss   [07:20AM  AP]
▶ Is Sonus Networks, Inc. (SONS) Going to Burn Investors?   [Dec-08-16 01:46PM  at Insider Monkey]
▶ How Sonus Networks, Inc. Fell 25.6% in October   [Nov-09-16 08:12AM  at Motley Fool]
▶ Sonus reports 3Q loss   [07:22AM  AP]
Stock chart of SONS Financial statements of SONS
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.