Intrinsic value of Spark Energy - SPKE

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$35.65

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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$35.65

 
Intrinsic value

$3,187

 
Up/down potential

+999%

 
Rating

str. buy

 
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 SPKE 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 0.6

 

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, %
  52.79
  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
  547
  875
  1,352
  2,022
  2,934
  4,140
  5,691
  7,639
  10,030
  12,907
  16,302
  20,244
  24,750
  29,832
  35,494
  41,735
  48,548
  55,923
  63,848
  72,311
  81,300
  90,801
  100,805
  111,305
  122,296
  133,777
  145,747
  158,214
  171,185
  184,672
  198,689
Variable operating expenses, $m
 
  621
  955
  1,425
  2,063
  2,908
  3,995
  5,359
  7,035
  9,050
  11,429
  14,182
  17,339
  20,899
  24,866
  29,238
  34,010
  39,177
  44,729
  50,658
  56,955
  63,611
  70,620
  77,976
  85,676
  93,718
  102,105
  110,838
  119,925
  129,373
  139,193
Fixed operating expenses, $m
 
  76
  78
  80
  82
  84
  86
  88
  90
  92
  95
  97
  100
  102
  105
  107
  110
  113
  115
  118
  121
  124
  127
  131
  134
  137
  141
  144
  148
  151
  155
Total operating expenses, $m
  463
  697
  1,033
  1,505
  2,145
  2,992
  4,081
  5,447
  7,125
  9,142
  11,524
  14,279
  17,439
  21,001
  24,971
  29,345
  34,120
  39,290
  44,844
  50,776
  57,076
  63,735
  70,747
  78,107
  85,810
  93,855
  102,246
  110,982
  120,073
  129,524
  139,348
Operating income, $m
  84
  178
  319
  518
  789
  1,148
  1,610
  2,192
  2,905
  3,765
  4,779
  5,965
  7,312
  8,831
  10,524
  12,390
  14,427
  16,633
  19,003
  21,535
  24,223
  27,065
  30,058
  33,199
  36,487
  39,921
  43,502
  47,232
  51,112
  55,147
  59,341
EBITDA, $m
  133
  194
  339
  544
  823
  1,192
  1,668
  2,267
  3,002
  3,886
  4,930
  6,143
  7,529
  9,093
  10,836
  12,757
  14,855
  17,125
  19,565
  22,171
  24,939
  27,864
  30,945
  34,178
  37,563
  41,098
  44,785
  48,624
  52,619
  56,772
  61,089
Interest expense (income), $m
  2
  2
  8
  18
  31
  50
  74
  105
  144
  192
  250
  318
  398
  488
  590
  704
  830
  967
  1,115
  1,274
  1,444
  1,625
  1,816
  2,017
  2,228
  2,449
  2,680
  2,920
  3,171
  3,432
  3,703
Earnings before tax, $m
  76
  177
  311
  500
  758
  1,098
  1,537
  2,087
  2,761
  3,572
  4,529
  5,646
  6,914
  8,343
  9,934
  11,686
  13,598
  15,666
  17,889
  20,261
  22,779
  25,440
  28,242
  31,182
  34,259
  37,472
  40,823
  44,311
  47,941
  51,715
  55,638
Tax expense, $m
  10
  48
  84
  135
  205
  297
  415
  563
  746
  965
  1,223
  1,525
  1,867
  2,253
  2,682
  3,155
  3,671
  4,230
  4,830
  5,470
  6,150
  6,869
  7,625
  8,419
  9,250
  10,117
  11,022
  11,964
  12,944
  13,963
  15,022
Net income, $m
  14
  129
  227
  365
  553
  802
  1,122
  1,523
  2,016
  2,608
  3,306
  4,122
  5,047
  6,090
  7,252
  8,531
  9,926
  11,437
  13,059
  14,790
  16,629
  18,572
  20,617
  22,763
  25,009
  27,355
  29,800
  32,347
  34,997
  37,752
  40,616

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  27
  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
  376
  559
  863
  1,290
  1,872
  2,642
  3,632
  4,875
  6,401
  8,237
  10,403
  12,919
  15,794
  19,038
  22,651
  26,634
  30,981
  35,688
  40,746
  46,146
  51,882
  57,946
  64,330
  71,031
  78,045
  85,371
  93,011
  100,966
  109,244
  117,850
  126,796
Adjusted assets (=assets-cash), $m
  349
  559
  863
  1,290
  1,872
  2,642
  3,632
  4,875
  6,401
  8,237
  10,403
  12,919
  15,794
  19,038
  22,651
  26,634
  30,981
  35,688
  40,746
  46,146
  51,882
  57,946
  64,330
  71,031
  78,045
  85,371
  93,011
  100,966
  109,244
  117,850
  126,796
Revenue / Adjusted assets
  1.567
  1.565
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
  1.567
Average production assets, $m
  24
  39
  59
  89
  129
  182
  250
  336
  441
  568
  717
  891
  1,089
  1,313
  1,562
  1,836
  2,136
  2,461
  2,809
  3,182
  3,577
  3,995
  4,435
  4,897
  5,381
  5,886
  6,413
  6,961
  7,532
  8,126
  8,742
Working capital, $m
  14
  96
  149
  222
  323
  455
  626
  840
  1,103
  1,420
  1,793
  2,227
  2,722
  3,282
  3,904
  4,591
  5,340
  6,151
  7,023
  7,954
  8,943
  9,988
  11,089
  12,244
  13,453
  14,715
  16,032
  17,404
  18,830
  20,314
  21,856
Total debt, $m
  78
  235
  509
  893
  1,417
  2,110
  3,001
  4,119
  5,493
  7,145
  9,095
  11,359
  13,947
  16,866
  20,118
  23,702
  27,615
  31,851
  36,403
  41,264
  46,426
  51,883
  57,629
  63,660
  69,972
  76,566
  83,441
  90,602
  98,051
  105,797
  113,848
Total liabilities, $m
  346
  503
  777
  1,161
  1,685
  2,378
  3,269
  4,387
  5,761
  7,413
  9,363
  11,627
  14,215
  17,134
  20,386
  23,970
  27,883
  32,119
  36,671
  41,532
  46,694
  52,151
  57,897
  63,928
  70,240
  76,834
  83,709
  90,870
  98,319
  106,065
  114,116
Total equity, $m
  30
  56
  86
  129
  187
  264
  363
  487
  640
  824
  1,040
  1,292
  1,579
  1,904
  2,265
  2,663
  3,098
  3,569
  4,075
  4,615
  5,188
  5,795
  6,433
  7,103
  7,804
  8,537
  9,301
  10,097
  10,924
  11,785
  12,680
Total liabilities and equity, $m
  376
  559
  863
  1,290
  1,872
  2,642
  3,632
  4,874
  6,401
  8,237
  10,403
  12,919
  15,794
  19,038
  22,651
  26,633
  30,981
  35,688
  40,746
  46,147
  51,882
  57,946
  64,330
  71,031
  78,044
  85,371
  93,010
  100,967
  109,243
  117,850
  126,796
Debt-to-equity ratio
  2.600
  4.200
  5.890
  6.920
  7.570
  7.990
  8.260
  8.450
  8.580
  8.670
  8.740
  8.790
  8.830
  8.860
  8.880
  8.900
  8.910
  8.920
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
Adjusted equity ratio
  0.072
  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
  14
  129
  227
  365
  553
  802
  1,122
  1,523
  2,016
  2,608
  3,306
  4,122
  5,047
  6,090
  7,252
  8,531
  9,926
  11,437
  13,059
  14,790
  16,629
  18,572
  20,617
  22,763
  25,009
  27,355
  29,800
  32,347
  34,997
  37,752
  40,616
Depreciation, amort., depletion, $m
  49
  16
  20
  26
  34
  44
  58
  75
  96
  121
  151
  178
  218
  263
  312
  367
  427
  492
  562
  636
  715
  799
  887
  979
  1,076
  1,177
  1,283
  1,392
  1,506
  1,625
  1,748
Funds from operations, $m
  54
  144
  247
  391
  587
  846
  1,180
  1,598
  2,112
  2,729
  3,457
  4,300
  5,265
  6,353
  7,564
  8,898
  10,354
  11,929
  13,621
  15,427
  17,344
  19,371
  21,504
  23,742
  26,085
  28,532
  31,083
  33,740
  36,504
  39,377
  42,364
Change in working capital, $m
  -14
  36
  52
  74
  100
  133
  171
  214
  263
  316
  374
  434
  496
  559
  623
  686
  749
  811
  872
  931
  989
  1,045
  1,100
  1,155
  1,209
  1,263
  1,317
  1,371
  1,427
  1,484
  1,542
Cash from operations, $m
  68
  116
  194
  317
  487
  714
  1,009
  1,384
  1,849
  2,413
  3,084
  3,866
  4,769
  5,794
  6,941
  8,211
  9,604
  11,117
  12,749
  14,496
  16,355
  18,325
  20,403
  22,587
  24,876
  27,269
  29,766
  32,368
  35,077
  37,894
  40,822
Maintenance CAPEX, $m
  0
  -5
  -8
  -12
  -18
  -26
  -36
  -50
  -67
  -88
  -114
  -143
  -178
  -218
  -263
  -312
  -367
  -427
  -492
  -562
  -636
  -715
  -799
  -887
  -979
  -1,076
  -1,177
  -1,283
  -1,392
  -1,506
  -1,625
New CAPEX, $m
  -2
  -15
  -21
  -29
  -40
  -53
  -68
  -86
  -105
  -127
  -149
  -173
  -198
  -224
  -249
  -275
  -300
  -325
  -349
  -372
  -395
  -418
  -440
  -462
  -484
  -505
  -527
  -549
  -571
  -593
  -617
Cash from investing activities, $m
  -36
  -20
  -29
  -41
  -58
  -79
  -104
  -136
  -172
  -215
  -263
  -316
  -376
  -442
  -512
  -587
  -667
  -752
  -841
  -934
  -1,031
  -1,133
  -1,239
  -1,349
  -1,463
  -1,581
  -1,704
  -1,832
  -1,963
  -2,099
  -2,242
Free cash flow, $m
  32
  97
  166
  276
  429
  635
  904
  1,248
  1,676
  2,198
  2,821
  3,550
  4,393
  5,352
  6,429
  7,625
  8,937
  10,366
  11,908
  13,561
  15,324
  17,192
  19,164
  21,238
  23,413
  25,688
  28,062
  30,537
  33,114
  35,794
  38,580
Issuance/(repayment) of debt, $m
  12
  184
  274
  385
  524
  692
  891
  1,119
  1,374
  1,652
  1,950
  2,264
  2,588
  2,919
  3,252
  3,584
  3,913
  4,236
  4,552
  4,861
  5,162
  5,457
  5,746
  6,031
  6,313
  6,594
  6,875
  7,160
  7,450
  7,746
  8,051
Issuance/(repurchase) of shares, $m
  14
  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  
  -9
  184
  274
  385
  524
  692
  891
  1,119
  1,374
  1,652
  1,950
  2,264
  2,588
  2,919
  3,252
  3,584
  3,913
  4,236
  4,552
  4,861
  5,162
  5,457
  5,746
  6,031
  6,313
  6,594
  6,875
  7,160
  7,450
  7,746
  8,051
Total cash flow (excl. dividends), $m
  22
  281
  440
  661
  952
  1,327
  1,795
  2,367
  3,050
  3,850
  4,771
  5,813
  6,981
  8,271
  9,681
  11,209
  12,850
  14,602
  16,460
  18,422
  20,486
  22,649
  24,910
  27,269
  29,726
  32,281
  34,938
  37,697
  40,563
  43,540
  46,631
Retained Cash Flow (-), $m
  -19
  -26
  -30
  -43
  -58
  -77
  -99
  -124
  -153
  -184
  -217
  -252
  -288
  -324
  -361
  -398
  -435
  -471
  -506
  -540
  -574
  -606
  -638
  -670
  -701
  -733
  -764
  -796
  -828
  -861
  -895
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
 
  255
  409
  618
  894
  1,250
  1,696
  2,243
  2,897
  3,666
  4,554
  5,562
  6,694
  7,947
  9,320
  10,811
  12,415
  14,131
  15,954
  17,882
  19,912
  22,043
  24,272
  26,599
  29,024
  31,549
  34,174
  36,902
  39,736
  42,679
  45,737
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
 
  244
  375
  538
  736
  969
  1,231
  1,515
  1,811
  2,106
  2,388
  2,641
  2,856
  3,022
  3,129
  3,174
  3,155
  3,075
  2,938
  2,753
  2,530
  2,280
  2,014
  1,743
  1,478
  1,227
  997
  792
  615
  466
  344
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

Spark Energy, Inc., through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Natural Gas and Retail Electricity. The company is involved in the retail distribution of natural gas and electricity to residential, commercial, and industrial customers. As of December 31, 2015, it operated in 66 utility service territories across 16 states, and had approximately 328,000 residential customers and 19,000 commercial customers. Spark Energy, Inc. was founded in 1999 and is headquartered in Houston, Texas.

FINANCIAL RATIOS  of  Spark Energy (SPKE)

Valuation Ratios
P/E Ratio 42.6
Price to Sales 1.1
Price to Book 19.9
Price to Tangible Book
Price to Cash Flow 8.8
Price to Free Cash Flow 9
Growth Rates
Sales Growth Rate 52.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 14.9%
Financial Strength
Quick Ratio 0
Current Ratio 0.3
LT Debt to Equity 16.7%
Total Debt to Equity 260%
Interest Coverage 39
Management Effectiveness
Return On Assets 5.9%
Ret/ On Assets - 3 Yr. Avg. 3.5%
Return On Total Capital 16.7%
Ret/ On T. Cap. - 3 Yr. Avg. 8.2%
Return On Equity 68.3%
Return On Equity - 3 Yr. Avg. 36.1%
Asset Turnover 2
Profitability Ratios
Gross Margin 36.9%
Gross Margin - 3 Yr. Avg. 29.8%
EBITDA Margin 23.2%
EBITDA Margin - 3 Yr. Avg. 14.7%
Operating Margin 15.4%
Oper. Margin - 3 Yr. Avg. 7.5%
Pre-Tax Margin 13.9%
Pre-Tax Margin - 3 Yr. Avg. 6.7%
Net Profit Margin 2.6%
Net Profit Margin - 3 Yr. Avg. 1.2%
Effective Tax Rate 13.2%
Eff/ Tax Rate - 3 Yr. Avg. 13.4%
Payout Ratio 57.1%

SPKE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SPKE stock intrinsic value calculation we used $547 million for the last fiscal year's total revenue generated by Spark Energy. The default revenue input number comes from 2016 income statement of Spark Energy. 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 SPKE 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 SPKE is calculated based on our internal credit rating of Spark Energy, 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 Spark Energy.
    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 SPKE stock the variable cost ratio is equal to 71.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $74 million in the base year in the intrinsic value calculation for SPKE 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 Spark Energy.

Corporate tax rate of 27% is the nominal tax rate for Spark Energy. 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 SPKE 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 SPKE are equal to 4.4%.

Life of production assets of 1.5 years is the average useful life of capital assets used in Spark Energy 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 SPKE is equal to 11%. 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 - $30 million for Spark Energy - 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 16.906 million for Spark Energy 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 Spark Energy at the current share price and the inputted number of shares is $0.6 billion.


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COMPANY NEWS

▶ ETFs with exposure to Spark Energy, Inc. : March 30, 2017   [Mar-29-17 08:36PM  Capital Cube]
▶ Spark Energy posts 4Q profit   [10:02AM  Associated Press]
▶ These 2 High-Yield Dividend Stocks Are Ridiculously Cheap   [Feb-26-17 06:00PM  at Motley Fool]
▶ Is Spark Energy Inc (SPKE) A Good Stock To Buy?   [08:46AM  at Insider Monkey]
Stock chart of SPKE Financial statements of SPKE
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