Intrinsic value of Summit Materials Cl A - SUM

Previous Close

$27.83

  Intrinsic Value

$60.95

stock screener

  Rating & Target

str. buy

+119%

  Value-price divergence*

+22%

Previous close

$27.83

 
Intrinsic value

$60.95

 
Up/down potential

+119%

 
Rating

str. buy

 
Value-price divergence*

+22%

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

We calculate the intrinsic value of SUM 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 3.7

 

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, %
  13.55
  24.60
  22.64
  20.88
  19.29
  17.86
  16.57
  15.42
  14.37
  13.44
  12.59
  11.83
  11.15
  10.54
  9.98
  9.48
  9.04
  8.63
  8.27
  7.94
  7.65
  7.38
  7.14
  6.93
  6.74
  6.56
  6.41
  6.27
  6.14
  6.03
  5.92
Revenue, $m
  1,626
  2,026
  2,485
  3,003
  3,583
  4,223
  4,922
  5,681
  6,498
  7,371
  8,299
  9,281
  10,316
  11,403
  12,542
  13,731
  14,972
  16,264
  17,609
  19,007
  20,461
  21,971
  23,541
  25,173
  26,869
  28,632
  30,466
  32,376
  34,363
  36,434
  38,592
Variable operating expenses, $m
 
  1,057
  1,278
  1,529
  1,808
  2,117
  2,455
  2,822
  3,216
  3,638
  4,086
  4,482
  4,982
  5,507
  6,056
  6,631
  7,230
  7,854
  8,503
  9,179
  9,881
  10,610
  11,368
  12,156
  12,975
  13,827
  14,712
  15,634
  16,594
  17,594
  18,636
Fixed operating expenses, $m
 
  640
  656
  672
  689
  706
  724
  742
  760
  779
  799
  819
  839
  860
  882
  904
  926
  949
  973
  998
  1,022
  1,048
  1,074
  1,101
  1,129
  1,157
  1,186
  1,215
  1,246
  1,277
  1,309
Total operating expenses, $m
  1,472
  1,697
  1,934
  2,201
  2,497
  2,823
  3,179
  3,564
  3,976
  4,417
  4,885
  5,301
  5,821
  6,367
  6,938
  7,535
  8,156
  8,803
  9,476
  10,177
  10,903
  11,658
  12,442
  13,257
  14,104
  14,984
  15,898
  16,849
  17,840
  18,871
  19,945
Operating income, $m
  154
  330
  551
  803
  1,086
  1,399
  1,743
  2,118
  2,522
  2,954
  3,415
  3,981
  4,495
  5,036
  5,603
  6,196
  6,815
  7,460
  8,132
  8,831
  9,558
  10,313
  11,099
  11,915
  12,765
  13,649
  14,568
  15,526
  16,523
  17,563
  18,647
EBITDA, $m
  315
  542
  793
  1,079
  1,400
  1,756
  2,147
  2,571
  3,029
  3,519
  4,041
  4,593
  5,176
  5,789
  6,431
  7,103
  7,804
  8,534
  9,295
  10,086
  10,908
  11,764
  12,653
  13,577
  14,539
  15,539
  16,579
  17,663
  18,792
  19,968
  21,195
Interest expense (income), $m
  83
  89
  117
  149
  185
  226
  270
  319
  372
  429
  490
  555
  623
  695
  771
  851
  933
  1,020
  1,110
  1,204
  1,301
  1,403
  1,508
  1,618
  1,731
  1,850
  1,972
  2,100
  2,234
  2,372
  2,516
Earnings before tax, $m
  41
  240
  434
  654
  900
  1,173
  1,473
  1,799
  2,149
  2,525
  2,925
  3,426
  3,872
  4,341
  4,832
  5,346
  5,882
  6,440
  7,022
  7,627
  8,256
  8,910
  9,591
  10,298
  11,034
  11,799
  12,596
  13,425
  14,290
  15,191
  16,130
Tax expense, $m
  -5
  65
  117
  176
  243
  317
  398
  486
  580
  682
  790
  925
  1,045
  1,172
  1,305
  1,443
  1,588
  1,739
  1,896
  2,059
  2,229
  2,406
  2,589
  2,780
  2,979
  3,186
  3,401
  3,625
  3,858
  4,102
  4,355
Net income, $m
  37
  176
  317
  477
  657
  857
  1,075
  1,313
  1,569
  1,843
  2,135
  2,501
  2,827
  3,169
  3,528
  3,903
  4,294
  4,702
  5,126
  5,568
  6,027
  6,505
  7,001
  7,518
  8,055
  8,613
  9,195
  9,801
  10,432
  11,089
  11,775

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  143
  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
  2,781
  3,289
  4,034
  4,876
  5,816
  6,855
  7,991
  9,223
  10,548
  11,966
  13,473
  15,067
  16,747
  18,512
  20,360
  22,290
  24,305
  26,402
  28,586
  30,856
  33,216
  35,668
  38,216
  40,865
  43,618
  46,481
  49,459
  52,558
  55,785
  59,146
  62,650
Adjusted assets (=assets-cash), $m
  2,638
  3,289
  4,034
  4,876
  5,816
  6,855
  7,991
  9,223
  10,548
  11,966
  13,473
  15,067
  16,747
  18,512
  20,360
  22,290
  24,305
  26,402
  28,586
  30,856
  33,216
  35,668
  38,216
  40,865
  43,618
  46,481
  49,459
  52,558
  55,785
  59,146
  62,650
Revenue / Adjusted assets
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
  0.616
Average production assets, $m
  1,374
  1,712
  2,100
  2,538
  3,027
  3,568
  4,159
  4,801
  5,491
  6,228
  7,013
  7,843
  8,717
  9,636
  10,598
  11,603
  12,651
  13,743
  14,879
  16,061
  17,289
  18,566
  19,892
  21,271
  22,704
  24,194
  25,744
  27,357
  29,037
  30,787
  32,610
Working capital, $m
  245
  150
  184
  222
  265
  312
  364
  420
  481
  545
  614
  687
  763
  844
  928
  1,016
  1,108
  1,204
  1,303
  1,407
  1,514
  1,626
  1,742
  1,863
  1,988
  2,119
  2,255
  2,396
  2,543
  2,696
  2,856
Total debt, $m
  1,533
  1,988
  2,530
  3,143
  3,828
  4,584
  5,411
  6,308
  7,273
  8,305
  9,402
  10,563
  11,786
  13,071
  14,416
  15,821
  17,288
  18,815
  20,404
  22,057
  23,775
  25,560
  27,415
  29,343
  31,348
  33,432
  35,600
  37,856
  40,205
  42,652
  45,203
Total liabilities, $m
  1,939
  2,394
  2,936
  3,549
  4,234
  4,990
  5,817
  6,714
  7,679
  8,711
  9,808
  10,969
  12,192
  13,477
  14,822
  16,227
  17,694
  19,221
  20,810
  22,463
  24,181
  25,966
  27,821
  29,749
  31,754
  33,838
  36,006
  38,262
  40,611
  43,058
  45,609
Total equity, $m
  842
  895
  1,097
  1,326
  1,582
  1,864
  2,174
  2,509
  2,869
  3,255
  3,665
  4,098
  4,555
  5,035
  5,538
  6,063
  6,611
  7,181
  7,775
  8,393
  9,035
  9,702
  10,395
  11,115
  11,864
  12,643
  13,453
  14,296
  15,173
  16,088
  17,041
Total liabilities and equity, $m
  2,781
  3,289
  4,033
  4,875
  5,816
  6,854
  7,991
  9,223
  10,548
  11,966
  13,473
  15,067
  16,747
  18,512
  20,360
  22,290
  24,305
  26,402
  28,585
  30,856
  33,216
  35,668
  38,216
  40,864
  43,618
  46,481
  49,459
  52,558
  55,784
  59,146
  62,650
Debt-to-equity ratio
  1.821
  2.220
  2.310
  2.370
  2.420
  2.460
  2.490
  2.510
  2.530
  2.550
  2.570
  2.580
  2.590
  2.600
  2.600
  2.610
  2.620
  2.620
  2.620
  2.630
  2.630
  2.630
  2.640
  2.640
  2.640
  2.640
  2.650
  2.650
  2.650
  2.650
  2.650
Adjusted equity ratio
  0.265
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272
  0.272

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  37
  176
  317
  477
  657
  857
  1,075
  1,313
  1,569
  1,843
  2,135
  2,501
  2,827
  3,169
  3,528
  3,903
  4,294
  4,702
  5,126
  5,568
  6,027
  6,505
  7,001
  7,518
  8,055
  8,613
  9,195
  9,801
  10,432
  11,089
  11,775
Depreciation, amort., depletion, $m
  161
  212
  242
  276
  315
  357
  403
  453
  507
  565
  626
  613
  681
  753
  828
  906
  988
  1,074
  1,162
  1,255
  1,351
  1,450
  1,554
  1,662
  1,774
  1,890
  2,011
  2,137
  2,269
  2,405
  2,548
Funds from operations, $m
  246
  387
  559
  754
  972
  1,214
  1,478
  1,766
  2,076
  2,408
  2,761
  3,114
  3,508
  3,922
  4,355
  4,809
  5,282
  5,775
  6,289
  6,823
  7,378
  7,955
  8,555
  9,179
  9,828
  10,503
  11,206
  11,938
  12,700
  13,494
  14,323
Change in working capital, $m
  1
  30
  34
  38
  43
  47
  52
  56
  60
  65
  69
  73
  77
  80
  84
  88
  92
  96
  100
  103
  108
  112
  116
  121
  125
  130
  136
  141
  147
  153
  160
Cash from operations, $m
  245
  358
  525
  715
  929
  1,166
  1,427
  1,710
  2,016
  2,343
  2,692
  3,041
  3,431
  3,841
  4,271
  4,721
  5,190
  5,680
  6,189
  6,719
  7,270
  7,843
  8,439
  9,059
  9,703
  10,373
  11,070
  11,797
  12,553
  13,341
  14,163
Maintenance CAPEX, $m
  0
  -107
  -134
  -164
  -198
  -237
  -279
  -325
  -375
  -429
  -487
  -548
  -613
  -681
  -753
  -828
  -906
  -988
  -1,074
  -1,162
  -1,255
  -1,351
  -1,450
  -1,554
  -1,662
  -1,774
  -1,890
  -2,011
  -2,137
  -2,269
  -2,405
New CAPEX, $m
  -153
  -338
  -388
  -438
  -490
  -541
  -591
  -641
  -690
  -738
  -784
  -830
  -875
  -918
  -962
  -1,005
  -1,048
  -1,092
  -1,136
  -1,182
  -1,228
  -1,276
  -1,326
  -1,379
  -1,433
  -1,490
  -1,550
  -1,613
  -1,680
  -1,750
  -1,824
Cash from investing activities, $m
  -471
  -445
  -522
  -602
  -688
  -778
  -870
  -966
  -1,065
  -1,167
  -1,271
  -1,378
  -1,488
  -1,599
  -1,715
  -1,833
  -1,954
  -2,080
  -2,210
  -2,344
  -2,483
  -2,627
  -2,776
  -2,933
  -3,095
  -3,264
  -3,440
  -3,624
  -3,817
  -4,019
  -4,229
Free cash flow, $m
  -226
  -87
  4
  113
  241
  389
  557
  744
  951
  1,177
  1,421
  1,663
  1,944
  2,242
  2,557
  2,888
  3,236
  3,599
  3,979
  4,375
  4,787
  5,216
  5,662
  6,126
  6,608
  7,109
  7,630
  8,172
  8,736
  9,323
  9,934
Issuance/(repayment) of debt, $m
  233
  473
  542
  613
  685
  756
  827
  897
  965
  1,032
  1,097
  1,161
  1,223
  1,285
  1,345
  1,406
  1,466
  1,527
  1,589
  1,653
  1,718
  1,785
  1,855
  1,928
  2,004
  2,084
  2,168
  2,256
  2,349
  2,447
  2,550
Issuance/(repurchase) of shares, $m
  0
  2
  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  
  183
  475
  542
  613
  685
  756
  827
  897
  965
  1,032
  1,097
  1,161
  1,223
  1,285
  1,345
  1,406
  1,466
  1,527
  1,589
  1,653
  1,718
  1,785
  1,855
  1,928
  2,004
  2,084
  2,168
  2,256
  2,349
  2,447
  2,550
Total cash flow (excl. dividends), $m
  -43
  388
  546
  726
  926
  1,145
  1,384
  1,641
  1,916
  2,208
  2,518
  2,824
  3,167
  3,526
  3,902
  4,294
  4,702
  5,127
  5,568
  6,028
  6,505
  7,001
  7,517
  8,054
  8,612
  9,193
  9,798
  10,428
  11,085
  11,770
  12,485
Retained Cash Flow (-), $m
  -214
  -178
  -203
  -229
  -256
  -283
  -309
  -335
  -361
  -386
  -410
  -434
  -457
  -480
  -503
  -525
  -548
  -571
  -594
  -618
  -642
  -667
  -693
  -720
  -749
  -779
  -810
  -843
  -878
  -914
  -953
Prev. year cash balance distribution, $m
 
  125
  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
 
  335
  343
  497
  670
  863
  1,075
  1,306
  1,555
  1,823
  2,108
  2,390
  2,710
  3,046
  3,399
  3,768
  4,154
  4,556
  4,974
  5,410
  5,863
  6,334
  6,824
  7,334
  7,863
  8,415
  8,988
  9,585
  10,207
  10,856
  11,532
Discount rate, %
 
  9.00
  9.45
  9.92
  10.42
  10.94
  11.49
  12.06
  12.66
  13.30
  13.96
  14.66
  15.39
  16.16
  16.97
  17.82
  18.71
  19.65
  20.63
  21.66
  22.74
  23.88
  25.07
  26.33
  27.64
  29.03
  30.48
  32.00
  33.60
  35.28
  37.05
PV of cash for distribution, $m
 
  308
  286
  374
  451
  513
  560
  588
  599
  593
  571
  531
  486
  434
  379
  322
  267
  216
  170
  130
  97
  71
  50
  34
  22
  14
  9
  5
  3
  2
  1
Current shareholders' claim on cash, %
  100
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9
  99.9

Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products. Its products include crushed stone, construction sand and gravel, cement and ready-mixed concrete, asphalt paving mixes, granite and trap rock, and limestone and concrete products. The company also provides paving and related services to the construction industry. In addition, it operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminal operations. Summit Materials, Inc. was founded in 2009 and is headquartered in Denver, Colorado.

FINANCIAL RATIOS  of  Summit Materials Cl A (SUM)

Valuation Ratios
P/E Ratio 72.2
Price to Sales 1.6
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 10.9
Price to Free Cash Flow 29
Growth Rates
Sales Growth Rate 13.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 71.9%
Cap. Spend. - 3 Yr. Gr. Rate 18.3%
Financial Strength
Quick Ratio 8
Current Ratio 0.1
LT Debt to Equity 179.9%
Total Debt to Equity 182.1%
Interest Coverage 1
Management Effectiveness
Return On Assets 5%
Ret/ On Assets - 3 Yr. Avg. 2.7%
Return On Total Capital 1.7%
Ret/ On T. Cap. - 3 Yr. Avg. 0.9%
Return On Equity 5%
Return On Equity - 3 Yr. Avg. 2.7%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 34.1%
Gross Margin - 3 Yr. Avg. 30.4%
EBITDA Margin 17.5%
EBITDA Margin - 3 Yr. Avg. 14.4%
Operating Margin 9.5%
Oper. Margin - 3 Yr. Avg. 6.6%
Pre-Tax Margin 2.5%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 2.3%
Net Profit Margin - 3 Yr. Avg. 1.2%
Effective Tax Rate -12.2%
Eff/ Tax Rate - 3 Yr. Avg. 45.5%
Payout Ratio 0%

SUM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SUM stock intrinsic value calculation we used $1626 million for the last fiscal year's total revenue generated by Summit Materials Cl A. The default revenue input number comes from 2016 income statement of Summit Materials 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 SUM stock valuation model: a) initial revenue growth rate of 24.6% 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 9%, whose default value for SUM is calculated based on our internal credit rating of Summit Materials 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 Summit Materials 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 SUM stock the variable cost ratio is equal to 53.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $624 million in the base year in the intrinsic value calculation for SUM 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 Summit Materials Cl A.

Corporate tax rate of 27% is the nominal tax rate for Summit Materials 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 SUM 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 SUM are equal to 84.5%.

Life of production assets of 12.8 years is the average useful life of capital assets used in Summit Materials 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 SUM is equal to 7.4%. 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 - $842 million for Summit Materials 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 132.603 million for Summit Materials 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 Summit Materials Cl A at the current share price and the inputted number of shares is $3.7 billion.

RELATED COMPANIES Price Int.Val. Rating
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CX Cemex ADR 9.20 18.59  str.buy
CRH CRH ADR 34.33 97.28  str.buy
EXP Eagle Material 88.25 6.28  str.sell
CADC China Advanced 1.70 2.56  hold

COMPANY NEWS

▶ New Strong Sell Stocks for August 3rd   [Aug-03-17 08:13AM  Zacks]
▶ Summit Materials misses 2Q profit forecasts   [12:23AM  Associated Press]
▶ Summit Materials to Attend Upcoming Investor Conferences   [Jun-08-17 04:05PM  Business Wire]
▶ 3 Concrete Picks For Your Portfolio   [May-19-17 11:50AM  Zacks]
▶ Summit Materials reports 1Q loss   [May-03-17 06:06AM  Associated Press]
▶ New Strong Sell Stocks for April 19th   [Apr-19-17 08:06AM  Zacks]
▶ Summit Materials misses 4Q profit forecasts   [06:25AM  Associated Press]
▶ 3 Construction Stocks Set to Top Q4 Earnings   [Feb-15-17 04:25PM  Zacks]
▶ Summit Materials Inc (SUM) Is Poised For Growth   [Feb-09-17 10:09AM  at Insider Monkey]
▶ Summit Materials Prices Common Stock Offering   [Jan-05-17 09:26PM  Business Wire]
▶ Is Select Income REIT (SIR) A Good Stock To Buy?   [Dec-12-16 04:57PM  at Insider Monkey]
▶ Should You Buy Summit Materials Inc (SUM)?   [Dec-01-16 03:46PM  at Insider Monkey]
▶ Postelection Optimism Boosts U.S. Building Materials Firms   [Nov-18-16 07:00AM  at Morningstar]
▶ Summit Materials Prices Secondary Offering of Common Stock   [Nov-09-16 07:52PM  Business Wire]
▶ Summit Materials to Attend Upcoming Investor Conferences   [Nov-07-16 07:00AM  Business Wire]
Stock chart of SUM Financial statements of SUM
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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