Intrinsic value of Stamps.com - STMP

Previous Close

$149.35

  Intrinsic Value

$662.01

stock screener

  Rating & Target

str. buy

+343%

  Value-price divergence*

+2506%

Previous close

$149.35

 
Intrinsic value

$662.01

 
Up/down potential

+343%

 
Rating

str. buy

 
Value-price divergence*

+2506%

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

We calculate the intrinsic value of STMP 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 2.5

 

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, %
  70.09
  28.00
  25.70
  23.63
  21.77
  20.09
  18.58
  17.22
  16.00
  14.90
  13.91
  13.02
  12.22
  11.50
  10.85
  10.26
  9.74
  9.26
  8.84
  8.45
  8.11
  7.80
  7.52
  7.26
  7.04
  6.83
  6.65
  6.49
  6.34
  6.20
  6.08
Revenue, $m
  364
  466
  586
  724
  882
  1,059
  1,256
  1,472
  1,707
  1,962
  2,235
  2,525
  2,834
  3,160
  3,503
  3,862
  4,238
  4,630
  5,040
  5,466
  5,909
  6,369
  6,848
  7,346
  7,863
  8,400
  8,959
  9,540
  10,144
  10,774
  11,429
Variable operating expenses, $m
 
  89
  106
  125
  147
  172
  200
  230
  263
  299
  337
  354
  397
  443
  491
  541
  594
  649
  706
  766
  828
  892
  959
  1,029
  1,101
  1,177
  1,255
  1,336
  1,421
  1,509
  1,601
Fixed operating expenses, $m
 
  183
  188
  193
  198
  203
  208
  213
  218
  224
  229
  235
  241
  247
  253
  259
  266
  272
  279
  286
  293
  301
  308
  316
  324
  332
  340
  349
  357
  366
  375
Total operating expenses, $m
  244
  272
  294
  318
  345
  375
  408
  443
  481
  523
  566
  589
  638
  690
  744
  800
  860
  921
  985
  1,052
  1,121
  1,193
  1,267
  1,345
  1,425
  1,509
  1,595
  1,685
  1,778
  1,875
  1,976
Operating income, $m
  120
  193
  292
  406
  537
  684
  848
  1,029
  1,226
  1,439
  1,668
  1,937
  2,196
  2,470
  2,759
  3,062
  3,379
  3,709
  4,055
  4,414
  4,788
  5,176
  5,581
  6,001
  6,437
  6,892
  7,364
  7,855
  8,366
  8,898
  9,453
EBITDA, $m
  139
  226
  327
  444
  578
  729
  897
  1,082
  1,283
  1,502
  1,736
  1,986
  2,252
  2,532
  2,828
  3,137
  3,462
  3,800
  4,153
  4,521
  4,903
  5,301
  5,715
  6,145
  6,591
  7,056
  7,539
  8,041
  8,564
  9,109
  9,676
Interest expense (income), $m
  3
  5
  7
  10
  13
  16
  20
  25
  30
  35
  40
  46
  53
  60
  67
  75
  83
  91
  100
  109
  118
  128
  138
  149
  160
  171
  183
  196
  209
  222
  236
Earnings before tax, $m
  117
  188
  284
  396
  524
  668
  828
  1,004
  1,197
  1,405
  1,628
  1,890
  2,143
  2,411
  2,692
  2,987
  3,296
  3,619
  3,955
  4,305
  4,669
  5,048
  5,442
  5,852
  6,278
  6,720
  7,180
  7,659
  8,157
  8,676
  9,217
Tax expense, $m
  42
  51
  77
  107
  141
  180
  223
  271
  323
  379
  440
  510
  579
  651
  727
  807
  890
  977
  1,068
  1,162
  1,261
  1,363
  1,469
  1,580
  1,695
  1,814
  1,939
  2,068
  2,202
  2,343
  2,488
Net income, $m
  75
  137
  208
  289
  382
  487
  604
  733
  873
  1,025
  1,188
  1,380
  1,565
  1,760
  1,965
  2,181
  2,406
  2,642
  2,887
  3,143
  3,409
  3,685
  3,973
  4,272
  4,583
  4,906
  5,242
  5,591
  5,955
  6,334
  6,728

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  108
  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
  610
  643
  808
  999
  1,216
  1,460
  1,732
  2,030
  2,355
  2,706
  3,082
  3,483
  3,909
  4,358
  4,831
  5,327
  5,845
  6,387
  6,951
  7,539
  8,150
  8,785
  9,446
  10,132
  10,845
  11,586
  12,357
  13,158
  13,992
  14,860
  15,764
Adjusted assets (=assets-cash), $m
  502
  643
  808
  999
  1,216
  1,460
  1,732
  2,030
  2,355
  2,706
  3,082
  3,483
  3,909
  4,358
  4,831
  5,327
  5,845
  6,387
  6,951
  7,539
  8,150
  8,785
  9,446
  10,132
  10,845
  11,586
  12,357
  13,158
  13,992
  14,860
  15,764
Revenue / Adjusted assets
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
  0.725
Average production assets, $m
  131
  168
  211
  261
  317
  381
  452
  530
  615
  706
  804
  909
  1,020
  1,138
  1,261
  1,390
  1,526
  1,667
  1,814
  1,968
  2,127
  2,293
  2,465
  2,644
  2,831
  3,024
  3,225
  3,434
  3,652
  3,878
  4,114
Working capital, $m
  88
  -18
  -22
  -28
  -34
  -40
  -48
  -56
  -65
  -75
  -85
  -96
  -108
  -120
  -133
  -147
  -161
  -176
  -192
  -208
  -225
  -242
  -260
  -279
  -299
  -319
  -340
  -363
  -385
  -409
  -434
Total debt, $m
  147
  206
  282
  369
  469
  582
  707
  844
  993
  1,155
  1,328
  1,512
  1,708
  1,915
  2,132
  2,360
  2,599
  2,848
  3,108
  3,378
  3,659
  3,951
  4,255
  4,571
  4,899
  5,240
  5,594
  5,963
  6,346
  6,746
  7,161
Total liabilities, $m
  237
  296
  372
  459
  559
  672
  797
  934
  1,083
  1,245
  1,418
  1,602
  1,798
  2,005
  2,222
  2,450
  2,689
  2,938
  3,198
  3,468
  3,749
  4,041
  4,345
  4,661
  4,989
  5,330
  5,684
  6,053
  6,436
  6,836
  7,251
Total equity, $m
  373
  347
  436
  539
  657
  789
  935
  1,096
  1,272
  1,461
  1,664
  1,881
  2,111
  2,354
  2,609
  2,876
  3,157
  3,449
  3,754
  4,071
  4,401
  4,744
  5,101
  5,471
  5,856
  6,256
  6,673
  7,105
  7,556
  8,024
  8,513
Total liabilities and equity, $m
  610
  643
  808
  998
  1,216
  1,461
  1,732
  2,030
  2,355
  2,706
  3,082
  3,483
  3,909
  4,359
  4,831
  5,326
  5,846
  6,387
  6,952
  7,539
  8,150
  8,785
  9,446
  10,132
  10,845
  11,586
  12,357
  13,158
  13,992
  14,860
  15,764
Debt-to-equity ratio
  0.394
  0.590
  0.650
  0.680
  0.710
  0.740
  0.760
  0.770
  0.780
  0.790
  0.800
  0.800
  0.810
  0.810
  0.820
  0.820
  0.820
  0.830
  0.830
  0.830
  0.830
  0.830
  0.830
  0.840
  0.840
  0.840
  0.840
  0.840
  0.840
  0.840
  0.840
Adjusted equity ratio
  0.528
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  75
  137
  208
  289
  382
  487
  604
  733
  873
  1,025
  1,188
  1,380
  1,565
  1,760
  1,965
  2,181
  2,406
  2,642
  2,887
  3,143
  3,409
  3,685
  3,973
  4,272
  4,583
  4,906
  5,242
  5,591
  5,955
  6,334
  6,728
Depreciation, amort., depletion, $m
  19
  33
  35
  38
  41
  45
  49
  53
  57
  62
  68
  49
  55
  62
  69
  76
  83
  91
  99
  107
  116
  125
  134
  144
  154
  164
  175
  187
  198
  211
  224
Funds from operations, $m
  160
  171
  243
  327
  424
  532
  653
  786
  931
  1,088
  1,256
  1,429
  1,620
  1,822
  2,034
  2,256
  2,489
  2,732
  2,986
  3,250
  3,524
  3,810
  4,107
  4,416
  4,736
  5,070
  5,417
  5,778
  6,153
  6,544
  6,952
Change in working capital, $m
  12
  -4
  -5
  -5
  -6
  -7
  -7
  -8
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
Cash from operations, $m
  148
  174
  248
  333
  430
  539
  660
  794
  940
  1,097
  1,267
  1,440
  1,632
  1,834
  2,047
  2,270
  2,503
  2,747
  3,001
  3,266
  3,541
  3,827
  4,125
  4,434
  4,756
  5,090
  5,438
  5,800
  6,176
  6,568
  6,977
Maintenance CAPEX, $m
  0
  -7
  -9
  -11
  -14
  -17
  -21
  -25
  -29
  -33
  -38
  -44
  -49
  -55
  -62
  -69
  -76
  -83
  -91
  -99
  -107
  -116
  -125
  -134
  -144
  -154
  -164
  -175
  -187
  -198
  -211
New CAPEX, $m
  -8
  -37
  -43
  -50
  -57
  -64
  -71
  -78
  -85
  -92
  -98
  -105
  -111
  -117
  -123
  -129
  -135
  -141
  -147
  -153
  -160
  -166
  -172
  -179
  -186
  -193
  -201
  -209
  -218
  -227
  -236
Cash from investing activities, $m
  -55
  -44
  -52
  -61
  -71
  -81
  -92
  -103
  -114
  -125
  -136
  -149
  -160
  -172
  -185
  -198
  -211
  -224
  -238
  -252
  -267
  -282
  -297
  -313
  -330
  -347
  -365
  -384
  -405
  -425
  -447
Free cash flow, $m
  93
  131
  195
  271
  359
  458
  569
  692
  826
  972
  1,130
  1,292
  1,471
  1,661
  1,862
  2,072
  2,292
  2,523
  2,763
  3,014
  3,275
  3,546
  3,828
  4,121
  4,426
  4,743
  5,073
  5,415
  5,772
  6,143
  6,530
Issuance/(repayment) of debt, $m
  -12
  65
  76
  88
  100
  112
  125
  137
  149
  161
  173
  185
  196
  207
  217
  228
  239
  249
  260
  270
  281
  292
  304
  316
  328
  341
  354
  369
  384
  399
  416
Issuance/(repurchase) of shares, $m
  -65
  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  
  -51
  65
  76
  88
  100
  112
  125
  137
  149
  161
  173
  185
  196
  207
  217
  228
  239
  249
  260
  270
  281
  292
  304
  316
  328
  341
  354
  369
  384
  399
  416
Total cash flow (excl. dividends), $m
  42
  195
  271
  359
  459
  570
  694
  829
  976
  1,134
  1,303
  1,477
  1,667
  1,868
  2,079
  2,300
  2,531
  2,772
  3,023
  3,284
  3,556
  3,838
  4,132
  4,437
  4,754
  5,084
  5,427
  5,784
  6,156
  6,543
  6,946
Retained Cash Flow (-), $m
  -134
  -76
  -89
  -103
  -117
  -132
  -147
  -161
  -175
  -189
  -203
  -217
  -230
  -243
  -255
  -268
  -280
  -292
  -305
  -317
  -330
  -343
  -357
  -371
  -385
  -400
  -416
  -433
  -450
  -469
  -488
Prev. year cash balance distribution, $m
 
  102
  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
 
  221
  182
  256
  341
  438
  547
  668
  800
  944
  1,100
  1,260
  1,437
  1,625
  1,824
  2,032
  2,251
  2,480
  2,718
  2,967
  3,226
  3,495
  3,775
  4,067
  4,369
  4,684
  5,011
  5,351
  5,705
  6,074
  6,458
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
 
  212
  167
  223
  281
  340
  397
  451
  500
  542
  577
  598
  613
  618
  612
  597
  572
  540
  501
  457
  410
  362
  313
  267
  223
  182
  146
  115
  88
  66
  49
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

Stamps.com Inc. provides Internet-based postage solutions in the United States. It offers solutions for mailing and shipping various mail pieces, such as postcards, envelopes, flats, and packages using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others. The company’s products and services comprise USPS approved PC Postage service that enables users to print electronic stamps directly onto envelopes, plain paper, or labels using personal computer, printer, and Internet connection. It also provides multi carrier shipping solutions under the ShipStation and ShipWorks brands; mailing and shipping integration solutions comprising electronic postage for transactions to partners who manage the front-end process; sells NetStamps labels, DYMO Stamp labels, shipping labels, other mailing labels, dedicated postage printers, scales, and other mailing and shipping-focused office supplies through its mailing and shipping supplies store; and Stamps.com branded insurance to insure mails or packages. In addition, the company offers PhotoStamps, a patented form of postage service, which allows consumers to turn digital photos, designs, or images into USPS-approved postages. It serves individuals, small businesses, home offices, medium-size businesses, and large enterprises. The company was formerly known as StampMaster, Inc. and changed its name to Stamps.com Inc. in December 1998. Stamps.com Inc. was founded in 1996 and is headquartered in El Segundo, California.

FINANCIAL RATIOS  of  Stamps.com (STMP)

Valuation Ratios
P/E Ratio 33.7
Price to Sales 6.9
Price to Book 6.8
Price to Tangible Book
Price to Cash Flow 17.1
Price to Free Cash Flow 18
Growth Rates
Sales Growth Rate 70.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 300%
Cap. Spend. - 3 Yr. Gr. Rate 9.9%
Financial Strength
Quick Ratio 18
Current Ratio 0.1
LT Debt to Equity 37.8%
Total Debt to Equity 39.4%
Interest Coverage 40
Management Effectiveness
Return On Assets 13.5%
Ret/ On Assets - 3 Yr. Avg. 9.7%
Return On Total Capital 16.3%
Ret/ On T. Cap. - 3 Yr. Avg. 11.5%
Return On Equity 24.5%
Return On Equity - 3 Yr. Avg. 14.1%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 82.7%
Gross Margin - 3 Yr. Avg. 79.9%
EBITDA Margin 38.2%
EBITDA Margin - 3 Yr. Avg. 19.6%
Operating Margin 33%
Oper. Margin - 3 Yr. Avg. 15.7%
Pre-Tax Margin 32.1%
Pre-Tax Margin - 3 Yr. Avg. 15.2%
Net Profit Margin 20.6%
Net Profit Margin - 3 Yr. Avg. 14.6%
Effective Tax Rate 35.9%
Eff/ Tax Rate - 3 Yr. Avg. 5%
Payout Ratio 0%

STMP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the STMP stock intrinsic value calculation we used $364 million for the last fiscal year's total revenue generated by Stamps.com. The default revenue input number comes from 2016 income statement of Stamps.com. 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 STMP stock valuation model: a) initial revenue growth rate of 28% 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 STMP is calculated based on our internal credit rating of Stamps.com, 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 Stamps.com.
    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 STMP stock the variable cost ratio is equal to 20.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $179 million in the base year in the intrinsic value calculation for STMP 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 Stamps.com.

Corporate tax rate of 27% is the nominal tax rate for Stamps.com. 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 STMP 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 STMP are equal to 36%.

Life of production assets of 18.4 years is the average useful life of capital assets used in Stamps.com 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 STMP is equal to -3.8%. 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 - $373 million for Stamps.com - 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 16.798 million for Stamps.com 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 Stamps.com at the current share price and the inputted number of shares is $2.5 billion.

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COMPANY NEWS

▶ ETFs with exposure to Stamps.com, Inc. : July 13, 2017   [Jul-13-17 04:38PM  Capital Cube]
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▶ ETFs with exposure to Stamps.com, Inc. : June 27, 2017   [Jun-27-17 03:48PM  Capital Cube]
▶ Amazon Gets Rating Upgrade After Whole Foods Buy; Is Grubhub Next?   [Jun-20-17 11:16AM  Investor's Business Daily]
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▶ Return To Sender? Stamps.com Reverses Sharply After Breakout   [02:42PM  Investor's Business Daily]
▶ Will This Internet Stock Deliver Amazon And Alibaba-Style Gains?   [May-26-17 04:17PM  Investor's Business Daily]
▶ Miss Alibaba, Amazon Breakouts? This Internet Stock Is In A Buy Zone Now   [May-25-17 04:19PM  Investor's Business Daily]
▶ S&P 500 Tests 2400; Here's Why Fed Minutes Could Move Market   [May-24-17 01:26PM  Investor's Business Daily]
▶ Breakout Watch: Can Stamps.com Deliver On Its New Buy Point?   [May-19-17 11:49AM  Investor's Business Daily]
▶ Which Companies Are Now Outperforming 95% Of All Stocks?   [May-17-17 11:10AM  Investor's Business Daily]
▶ Does This Dotcom Darling Have Enough Postage For A New Breakout?   [May-15-17 11:17AM  Investor's Business Daily]
▶ ShippingEasy Launches InstantLabel   [May-11-17 08:30AM  Marketwired]
▶ Stamps.com tops Street 1Q forecasts   [May-03-17 06:31PM  Associated Press]
▶ ETFs with exposure to Stamps.com, Inc. : May 2, 2017   [May-02-17 04:41PM  Capital Cube]
▶ ETFs with exposure to Stamps.com, Inc. : April 20, 2017   [Apr-20-17 02:31PM  Capital Cube]
▶ ETFs with exposure to Stamps.com, Inc. : April 7, 2017   [Apr-07-17 05:32PM  Capital Cube]
▶ Stocks To Watch In Market Weakness   [01:49PM  Benzinga]
▶ ETFs with exposure to Stamps.com, Inc. : March 27, 2017   [Mar-27-17 04:07PM  Capital Cube]
▶ As Berkshire Buys Apple, Which Stocks Make 'Warren Buffett Screen'?   [Feb-27-17 04:23PM  Investor's Business Daily]
▶ Stamps.com Inc. Delivers 52% Revenue Growth   [Feb-25-17 05:26PM  Motley Fool]
▶ Stamps.com beats Street 4Q forecasts   [05:45PM  Associated Press]
▶ [$$] Facebook for Stockpickers   [Dec-24-16 12:01AM  at Barrons.com]
▶ 17 undervalued small-cap stocks to consider as markets rally   [Dec-02-16 10:58AM  at MarketWatch]
Stock chart of STMP Financial statements of STMP Annual reports of STMP
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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