Intrinsic value of Stoneridge - SRI

Previous Close

$16.19

  Intrinsic Value

$200.50

stock screener

  Rating & Target

str. buy

+999%

  Value-price divergence*

-84%

Previous close

$16.19

 
Intrinsic value

$200.50

 
Up/down potential

+999%

 
Rating

str. buy

 
Value-price divergence*

-84%

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

We calculate the intrinsic value of SRI 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 0.5

 

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, %
  7.91
  25.20
  23.18
  21.36
  19.73
  18.25
  16.93
  15.74
  14.66
  13.70
  12.83
  12.04
  11.34
  10.71
  10.13
  9.62
  9.16
  8.74
  8.37
  8.03
  7.73
  7.46
  7.21
  6.99
  6.79
  6.61
  6.45
  6.31
  6.17
  6.06
  5.95
Revenue, $m
  696
  871
  1,073
  1,303
  1,560
  1,844
  2,157
  2,496
  2,862
  3,254
  3,671
  4,113
  4,580
  5,070
  5,584
  6,121
  6,681
  7,266
  7,874
  8,506
  9,163
  9,847
  10,557
  11,294
  12,061
  12,859
  13,688
  14,551
  15,450
  16,386
  17,361
Variable operating expenses, $m
 
  599
  737
  895
  1,071
  1,267
  1,482
  1,715
  1,966
  2,235
  2,522
  2,826
  3,146
  3,483
  3,836
  4,205
  4,590
  4,991
  5,409
  5,844
  6,295
  6,765
  7,252
  7,759
  8,286
  8,834
  9,404
  9,997
  10,614
  11,257
  11,927
Fixed operating expenses, $m
 
  182
  187
  192
  196
  201
  206
  212
  217
  222
  228
  234
  239
  245
  252
  258
  264
  271
  278
  285
  292
  299
  306
  314
  322
  330
  338
  347
  355
  364
  373
Total operating expenses, $m
  652
  781
  924
  1,087
  1,267
  1,468
  1,688
  1,927
  2,183
  2,457
  2,750
  3,060
  3,385
  3,728
  4,088
  4,463
  4,854
  5,262
  5,687
  6,129
  6,587
  7,064
  7,558
  8,073
  8,608
  9,164
  9,742
  10,344
  10,969
  11,621
  12,300
Operating income, $m
  44
  90
  149
  216
  292
  376
  469
  570
  679
  796
  921
  1,054
  1,194
  1,341
  1,496
  1,658
  1,827
  2,003
  2,187
  2,378
  2,576
  2,783
  2,998
  3,221
  3,453
  3,695
  3,946
  4,208
  4,480
  4,764
  5,061
EBITDA, $m
  68
  105
  167
  238
  319
  408
  506
  613
  728
  852
  984
  1,125
  1,273
  1,429
  1,592
  1,763
  1,942
  2,128
  2,322
  2,524
  2,734
  2,952
  3,179
  3,415
  3,661
  3,916
  4,182
  4,458
  4,746
  5,046
  5,359
Interest expense (income), $m
  6
  4
  8
  11
  15
  20
  25
  30
  36
  43
  50
  57
  65
  73
  82
  91
  100
  110
  120
  131
  142
  154
  166
  178
  191
  205
  219
  234
  249
  265
  281
Earnings before tax, $m
  39
  86
  141
  205
  277
  356
  444
  539
  643
  753
  872
  997
  1,129
  1,269
  1,415
  1,567
  1,727
  1,893
  2,067
  2,247
  2,434
  2,629
  2,832
  3,043
  3,262
  3,490
  3,727
  3,974
  4,232
  4,500
  4,779
Tax expense, $m
  -37
  23
  38
  55
  75
  96
  120
  146
  174
  203
  235
  269
  305
  343
  382
  423
  466
  511
  558
  607
  657
  710
  765
  822
  881
  942
  1,006
  1,073
  1,143
  1,215
  1,290
Net income, $m
  77
  63
  103
  150
  202
  260
  324
  394
  469
  550
  636
  728
  824
  926
  1,033
  1,144
  1,261
  1,382
  1,509
  1,640
  1,777
  1,919
  2,067
  2,221
  2,381
  2,548
  2,721
  2,901
  3,089
  3,285
  3,489

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  50
  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
  395
  432
  532
  646
  773
  914
  1,069
  1,237
  1,419
  1,613
  1,820
  2,039
  2,270
  2,514
  2,768
  3,035
  3,313
  3,602
  3,904
  4,217
  4,543
  4,882
  5,234
  5,600
  5,980
  6,375
  6,786
  7,214
  7,660
  8,124
  8,607
Adjusted assets (=assets-cash), $m
  345
  432
  532
  646
  773
  914
  1,069
  1,237
  1,419
  1,613
  1,820
  2,039
  2,270
  2,514
  2,768
  3,035
  3,313
  3,602
  3,904
  4,217
  4,543
  4,882
  5,234
  5,600
  5,980
  6,375
  6,786
  7,214
  7,660
  8,124
  8,607
Revenue / Adjusted assets
  2.017
  2.016
  2.017
  2.017
  2.018
  2.018
  2.018
  2.018
  2.017
  2.017
  2.017
  2.017
  2.018
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
  2.017
Average production assets, $m
  120
  150
  185
  224
  268
  317
  371
  429
  492
  560
  631
  707
  788
  872
  960
  1,053
  1,149
  1,250
  1,354
  1,463
  1,576
  1,694
  1,816
  1,943
  2,075
  2,212
  2,354
  2,503
  2,657
  2,818
  2,986
Working capital, $m
  128
  109
  134
  163
  195
  231
  270
  312
  358
  407
  459
  514
  572
  634
  698
  765
  835
  908
  984
  1,063
  1,145
  1,231
  1,320
  1,412
  1,508
  1,607
  1,711
  1,819
  1,931
  2,048
  2,170
Total debt, $m
  84
  128
  188
  256
  333
  418
  512
  613
  723
  840
  964
  1,097
  1,236
  1,383
  1,536
  1,697
  1,864
  2,039
  2,221
  2,410
  2,606
  2,811
  3,023
  3,244
  3,473
  3,711
  3,959
  4,217
  4,486
  4,766
  5,057
Total liabilities, $m
  216
  261
  321
  389
  466
  551
  645
  746
  856
  973
  1,097
  1,230
  1,369
  1,516
  1,669
  1,830
  1,997
  2,172
  2,354
  2,543
  2,739
  2,944
  3,156
  3,377
  3,606
  3,844
  4,092
  4,350
  4,619
  4,899
  5,190
Total equity, $m
  178
  172
  211
  256
  307
  363
  424
  491
  563
  640
  723
  810
  901
  998
  1,099
  1,205
  1,315
  1,430
  1,550
  1,674
  1,804
  1,938
  2,078
  2,223
  2,374
  2,531
  2,694
  2,864
  3,041
  3,225
  3,417
Total liabilities and equity, $m
  394
  433
  532
  645
  773
  914
  1,069
  1,237
  1,419
  1,613
  1,820
  2,040
  2,270
  2,514
  2,768
  3,035
  3,312
  3,602
  3,904
  4,217
  4,543
  4,882
  5,234
  5,600
  5,980
  6,375
  6,786
  7,214
  7,660
  8,124
  8,607
Debt-to-equity ratio
  0.472
  0.740
  0.890
  1.000
  1.090
  1.150
  1.210
  1.250
  1.280
  1.310
  1.330
  1.350
  1.370
  1.390
  1.400
  1.410
  1.420
  1.430
  1.430
  1.440
  1.450
  1.450
  1.450
  1.460
  1.460
  1.470
  1.470
  1.470
  1.480
  1.480
  1.480
Adjusted equity ratio
  0.371
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397
  0.397

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  77
  63
  103
  150
  202
  260
  324
  394
  469
  550
  636
  728
  824
  926
  1,033
  1,144
  1,261
  1,382
  1,509
  1,640
  1,777
  1,919
  2,067
  2,221
  2,381
  2,548
  2,721
  2,901
  3,089
  3,285
  3,489
Depreciation, amort., depletion, $m
  24
  15
  18
  22
  27
  32
  37
  43
  49
  56
  63
  71
  79
  87
  96
  105
  115
  125
  135
  146
  158
  169
  182
  194
  207
  221
  235
  250
  266
  282
  299
Funds from operations, $m
  66
  78
  122
  172
  229
  292
  361
  437
  518
  606
  699
  799
  903
  1,013
  1,129
  1,249
  1,376
  1,507
  1,644
  1,786
  1,935
  2,089
  2,249
  2,415
  2,589
  2,769
  2,956
  3,151
  3,355
  3,567
  3,788
Change in working capital, $m
  1
  22
  25
  29
  32
  36
  39
  42
  46
  49
  52
  55
  58
  61
  64
  67
  70
  73
  76
  79
  82
  85
  89
  92
  96
  100
  104
  108
  112
  117
  122
Cash from operations, $m
  65
  56
  96
  143
  197
  256
  322
  394
  473
  557
  647
  743
  845
  952
  1,064
  1,182
  1,306
  1,434
  1,568
  1,707
  1,852
  2,003
  2,160
  2,323
  2,493
  2,669
  2,853
  3,044
  3,242
  3,450
  3,666
Maintenance CAPEX, $m
  0
  -12
  -15
  -18
  -22
  -27
  -32
  -37
  -43
  -49
  -56
  -63
  -71
  -79
  -87
  -96
  -105
  -115
  -125
  -135
  -146
  -158
  -169
  -182
  -194
  -207
  -221
  -235
  -250
  -266
  -282
New CAPEX, $m
  -24
  -30
  -35
  -39
  -44
  -49
  -54
  -58
  -63
  -67
  -72
  -76
  -80
  -84
  -88
  -92
  -96
  -100
  -105
  -109
  -113
  -118
  -122
  -127
  -132
  -137
  -143
  -148
  -155
  -161
  -168
Cash from investing activities, $m
  -24
  -42
  -50
  -57
  -66
  -76
  -86
  -95
  -106
  -116
  -128
  -139
  -151
  -163
  -175
  -188
  -201
  -215
  -230
  -244
  -259
  -276
  -291
  -309
  -326
  -344
  -364
  -383
  -405
  -427
  -450
Free cash flow, $m
  41
  14
  47
  85
  130
  180
  237
  299
  367
  440
  520
  604
  694
  789
  889
  994
  1,104
  1,219
  1,338
  1,463
  1,593
  1,728
  1,869
  2,015
  2,167
  2,325
  2,489
  2,660
  2,838
  3,023
  3,216
Issuance/(repayment) of debt, $m
  -43
  53
  60
  69
  77
  85
  93
  101
  109
  117
  125
  132
  139
  147
  154
  161
  168
  175
  182
  189
  197
  204
  212
  221
  229
  238
  248
  258
  269
  280
  292
Issuance/(repurchase) of shares, $m
  -1
  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  
  -43
  53
  60
  69
  77
  85
  93
  101
  109
  117
  125
  132
  139
  147
  154
  161
  168
  175
  182
  189
  197
  204
  212
  221
  229
  238
  248
  258
  269
  280
  292
Total cash flow (excl. dividends), $m
  -4
  66
  107
  154
  207
  265
  330
  400
  476
  558
  644
  736
  833
  935
  1,042
  1,154
  1,271
  1,393
  1,520
  1,652
  1,790
  1,932
  2,081
  2,235
  2,396
  2,563
  2,737
  2,918
  3,106
  3,303
  3,508
Retained Cash Flow (-), $m
  -85
  -35
  -40
  -45
  -51
  -56
  -61
  -67
  -72
  -77
  -82
  -87
  -92
  -96
  -101
  -106
  -110
  -115
  -120
  -124
  -129
  -134
  -140
  -145
  -151
  -157
  -163
  -170
  -177
  -184
  -192
Prev. year cash balance distribution, $m
 
  41
  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
 
  73
  67
  109
  156
  209
  269
  333
  404
  480
  562
  649
  742
  839
  941
  1,049
  1,161
  1,278
  1,401
  1,528
  1,660
  1,798
  1,941
  2,090
  2,245
  2,406
  2,573
  2,748
  2,929
  3,119
  3,316
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
 
  70
  62
  95
  129
  162
  195
  225
  253
  276
  295
  308
  316
  319
  316
  308
  295
  278
  258
  235
  211
  186
  161
  137
  114
  94
  75
  59
  45
  34
  25
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

Stoneridge, Inc. designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets in North America, South America, Europe, and internationally. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators, as well as other electronic products that monitors, measures, or activates specific functions within a vehicle; and actuator products that enable original equipment manufacturers (OEM) to deploy power functions in a vehicle, as well as to integrate switching and control functions. The Electronics segment offers electronic instrument clusters, electronic control units, and driver information systems. Its products collect, store, and display vehicle information, such as speed, pressure, maintenance data, trip information, operator performance, temperature, distance traveled, and driver messages related to vehicle performance. This segmentÂ’s power distribution modules and systems regulate, coordinate, and direct the operation of the electrical system within a vehicle. The PST segment offers in-vehicle audio and video devices, electronic vehicle security alarms, convenience accessories, infotainment systems, and vehicle tracking devices and monitoring services. It offers its products and systems to various OEM and tier one supplier customers, as well as aftermarket distributors and mass merchandisers for use in various vehicle platforms. Stoneridge, Inc. was founded in 1965 and is headquartered in Warren, Ohio.

FINANCIAL RATIOS  of  Stoneridge (SRI)

Valuation Ratios
P/E Ratio 5.9
Price to Sales 0.6
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 6.9
Price to Free Cash Flow 11
Growth Rates
Sales Growth Rate 7.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -17.2%
Cap. Spend. - 3 Yr. Gr. Rate -0.8%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 42.1%
Total Debt to Equity 47.2%
Interest Coverage 8
Management Effectiveness
Return On Assets 23.4%
Ret/ On Assets - 3 Yr. Avg. 8.5%
Return On Total Capital 32.6%
Ret/ On T. Cap. - 3 Yr. Avg. 8.9%
Return On Equity 56.8%
Return On Equity - 3 Yr. Avg. 14.2%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 28.2%
Gross Margin - 3 Yr. Avg. 28.2%
EBITDA Margin 9.9%
EBITDA Margin - 3 Yr. Avg. 5.7%
Operating Margin 6.3%
Oper. Margin - 3 Yr. Avg. 1.7%
Pre-Tax Margin 5.6%
Pre-Tax Margin - 3 Yr. Avg. 0.2%
Net Profit Margin 11.1%
Net Profit Margin - 3 Yr. Avg. 2.5%
Effective Tax Rate -94.9%
Eff/ Tax Rate - 3 Yr. Avg. -32%
Payout Ratio 0%

SRI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SRI stock intrinsic value calculation we used $696 million for the last fiscal year's total revenue generated by Stoneridge. The default revenue input number comes from 2016 income statement of Stoneridge. 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 SRI stock valuation model: a) initial revenue growth rate of 25.2% 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 SRI is calculated based on our internal credit rating of Stoneridge, 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 Stoneridge.
    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 SRI stock the variable cost ratio is equal to 68.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $178 million in the base year in the intrinsic value calculation for SRI 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 5.9% for Stoneridge.

Corporate tax rate of 27% is the nominal tax rate for Stoneridge. 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 SRI 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 SRI are equal to 17.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Stoneridge 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 SRI is equal to 12.5%. 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 - $178 million for Stoneridge - 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 27.876 million for Stoneridge 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 Stoneridge at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ 5 Cheap Breakout Stocks Offering Strong Returns   [Aug-08-17 08:40AM  Zacks]
▶ Stoneridge beats Street 2Q forecasts   [Aug-03-17 10:24AM  Associated Press]
▶ ETFs with exposure to Stoneridge, Inc. : June 26, 2017   [Jun-26-17 04:57PM  Capital Cube]
▶ /C O R R E C T I O N -- Stoneridge, Inc./   [May-25-17 03:45PM  PR Newswire]
▶ Stoneridge beats 1Q profit forecasts   [May-04-17 05:03AM  Associated Press]
▶ Stoneridge beats 4Q profit forecasts   [07:47AM  Associated Press]
▶ Is Stoneridge, Inc. (NYSE:SRI) Worthy of Your Portfolio?   [Dec-08-16 01:34PM  at Insider Monkey]
▶ Should You Follow Hedge Funds Into Healthways, Inc. (HWAY)?   [Nov-28-16 06:52PM  at Insider Monkey]
Stock chart of SRI Financial statements of SRI
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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