Intrinsic value of Symantec - SYMC

Previous Close

$32.33

  Intrinsic Value

$37.02

stock screener

  Rating & Target

hold

+14%

  Value-price divergence*

+46%

Previous close

$32.33

 
Intrinsic value

$37.02

 
Up/down potential

+14%

 
Rating

hold

 
Value-price divergence*

+46%

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

We calculate the intrinsic value of SYMC 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 2017), $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 19.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.64
  11.60
  10.94
  10.35
  9.81
  9.33
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.86
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
Revenue, $m
  4,019
  4,485
  4,976
  5,491
  6,029
  6,592
  7,178
  7,789
  8,425
  9,085
  9,772
  10,485
  11,227
  11,997
  12,798
  13,631
  14,498
  15,400
  16,340
  17,319
  18,339
  19,403
  20,514
  21,673
  22,883
  24,148
  25,469
  26,851
  28,297
  29,810
  31,393
Variable operating expenses, $m
 
  3,816
  4,139
  4,477
  4,832
  5,202
  5,589
  5,991
  6,409
  6,844
  7,296
  6,903
  7,391
  7,898
  8,426
  8,974
  9,545
  10,139
  10,757
  11,402
  12,073
  12,774
  13,505
  14,268
  15,065
  15,897
  16,768
  17,678
  18,629
  19,625
  20,667
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
  4,119
  3,816
  4,139
  4,477
  4,832
  5,202
  5,589
  5,991
  6,409
  6,844
  7,296
  6,903
  7,391
  7,898
  8,426
  8,974
  9,545
  10,139
  10,757
  11,402
  12,073
  12,774
  13,505
  14,268
  15,065
  15,897
  16,768
  17,678
  18,629
  19,625
  20,667
Operating income, $m
  -100
  670
  837
  1,013
  1,197
  1,389
  1,590
  1,799
  2,016
  2,241
  2,476
  3,582
  3,836
  4,099
  4,373
  4,657
  4,953
  5,262
  5,583
  5,917
  6,266
  6,629
  7,009
  7,405
  7,818
  8,250
  8,702
  9,174
  9,668
  10,185
  10,726
EBITDA, $m
  430
  1,717
  1,905
  2,102
  2,309
  2,524
  2,749
  2,982
  3,226
  3,479
  3,742
  4,015
  4,299
  4,594
  4,900
  5,219
  5,551
  5,897
  6,257
  6,631
  7,022
  7,429
  7,855
  8,298
  8,762
  9,246
  9,752
  10,281
  10,835
  11,414
  12,020
Interest expense (income), $m
  143
  241
  261
  315
  371
  430
  491
  555
  621
  691
  763
  838
  915
  996
  1,080
  1,167
  1,258
  1,353
  1,451
  1,553
  1,660
  1,771
  1,887
  2,008
  2,135
  2,267
  2,404
  2,549
  2,699
  2,857
  3,022
Earnings before tax, $m
  -262
  429
  576
  698
  826
  960
  1,099
  1,244
  1,394
  1,551
  1,713
  2,745
  2,920
  3,103
  3,292
  3,490
  3,695
  3,909
  4,132
  4,364
  4,606
  4,858
  5,121
  5,396
  5,683
  5,984
  6,297
  6,625
  6,969
  7,328
  7,704
Tax expense, $m
  -26
  116
  156
  189
  223
  259
  297
  336
  376
  419
  463
  741
  788
  838
  889
  942
  998
  1,055
  1,116
  1,178
  1,243
  1,312
  1,383
  1,457
  1,535
  1,616
  1,700
  1,789
  1,882
  1,979
  2,080
Net income, $m
  -106
  313
  420
  510
  603
  701
  802
  908
  1,018
  1,132
  1,251
  2,004
  2,132
  2,265
  2,404
  2,548
  2,697
  2,854
  3,016
  3,185
  3,362
  3,546
  3,738
  3,939
  4,149
  4,368
  4,597
  4,837
  5,087
  5,349
  5,624

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  4,247
  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
  18,174
  15,520
  17,218
  18,999
  20,863
  22,810
  24,839
  26,952
  29,151
  31,436
  33,812
  36,281
  38,846
  41,513
  44,285
  47,167
  50,167
  53,289
  56,540
  59,927
  63,457
  67,139
  70,981
  74,992
  79,180
  83,556
  88,129
  92,912
  97,914
  103,148
  108,626
Adjusted assets (=assets-cash), $m
  13,927
  15,520
  17,218
  18,999
  20,863
  22,810
  24,839
  26,952
  29,151
  31,436
  33,812
  36,281
  38,846
  41,513
  44,285
  47,167
  50,167
  53,289
  56,540
  59,927
  63,457
  67,139
  70,981
  74,992
  79,180
  83,556
  88,129
  92,912
  97,914
  103,148
  108,626
Revenue / Adjusted assets
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
  0.289
Average production assets, $m
  2,671
  2,978
  3,304
  3,646
  4,004
  4,377
  4,767
  5,172
  5,594
  6,033
  6,488
  6,962
  7,454
  7,966
  8,498
  9,051
  9,627
  10,226
  10,850
  11,500
  12,177
  12,884
  13,621
  14,391
  15,194
  16,034
  16,912
  17,829
  18,789
  19,794
  20,845
Working capital, $m
  702
  -2,494
  -2,767
  -3,053
  -3,352
  -3,665
  -3,991
  -4,331
  -4,684
  -5,051
  -5,433
  -5,830
  -6,242
  -6,670
  -7,116
  -7,579
  -8,061
  -8,563
  -9,085
  -9,629
  -10,197
  -10,788
  -11,406
  -12,050
  -12,723
  -13,426
  -14,161
  -14,929
  -15,733
  -16,574
  -17,454
Total debt, $m
  8,186
  7,467
  8,995
  10,598
  12,276
  14,028
  15,854
  17,756
  19,735
  21,792
  23,930
  26,152
  28,460
  30,860
  33,355
  35,950
  38,649
  41,459
  44,385
  47,433
  50,611
  53,924
  57,382
  60,991
  64,761
  68,699
  72,815
  77,119
  81,621
  86,332
  91,262
Total liabilities, $m
  14,687
  13,968
  15,496
  17,099
  18,777
  20,529
  22,355
  24,257
  26,236
  28,293
  30,431
  32,653
  34,961
  37,361
  39,856
  42,451
  45,150
  47,960
  50,886
  53,934
  57,112
  60,425
  63,883
  67,492
  71,262
  75,200
  79,316
  83,620
  88,122
  92,833
  97,763
Total equity, $m
  3,487
  1,552
  1,722
  1,900
  2,086
  2,281
  2,484
  2,695
  2,915
  3,144
  3,381
  3,628
  3,885
  4,151
  4,428
  4,717
  5,017
  5,329
  5,654
  5,993
  6,346
  6,714
  7,098
  7,499
  7,918
  8,356
  8,813
  9,291
  9,791
  10,315
  10,863
Total liabilities and equity, $m
  18,174
  15,520
  17,218
  18,999
  20,863
  22,810
  24,839
  26,952
  29,151
  31,437
  33,812
  36,281
  38,846
  41,512
  44,284
  47,168
  50,167
  53,289
  56,540
  59,927
  63,458
  67,139
  70,981
  74,991
  79,180
  83,556
  88,129
  92,911
  97,913
  103,148
  108,626
Debt-to-equity ratio
  2.348
  4.810
  5.220
  5.580
  5.880
  6.150
  6.380
  6.590
  6.770
  6.930
  7.080
  7.210
  7.330
  7.430
  7.530
  7.620
  7.700
  7.780
  7.850
  7.920
  7.980
  8.030
  8.080
  8.130
  8.180
  8.220
  8.260
  8.300
  8.340
  8.370
  8.400
Adjusted equity ratio
  -0.055
  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
  -106
  313
  420
  510
  603
  701
  802
  908
  1,018
  1,132
  1,251
  2,004
  2,132
  2,265
  2,404
  2,548
  2,697
  2,854
  3,016
  3,185
  3,362
  3,546
  3,738
  3,939
  4,149
  4,368
  4,597
  4,837
  5,087
  5,349
  5,624
Depreciation, amort., depletion, $m
  530
  1,048
  1,068
  1,089
  1,111
  1,135
  1,159
  1,184
  1,210
  1,237
  1,266
  432
  463
  495
  528
  562
  598
  635
  674
  714
  756
  800
  846
  894
  944
  996
  1,050
  1,107
  1,167
  1,229
  1,295
Funds from operations, $m
  -974
  1,361
  1,488
  1,599
  1,715
  1,835
  1,961
  2,092
  2,228
  2,369
  2,516
  2,436
  2,595
  2,760
  2,931
  3,110
  3,295
  3,489
  3,690
  3,900
  4,118
  4,346
  4,585
  4,833
  5,093
  5,364
  5,647
  5,944
  6,254
  6,579
  6,919
Change in working capital, $m
  -754
  -259
  -273
  -286
  -300
  -313
  -326
  -340
  -353
  -367
  -382
  -397
  -412
  -428
  -445
  -463
  -482
  -502
  -522
  -544
  -567
  -592
  -617
  -644
  -673
  -703
  -735
  -768
  -804
  -841
  -880
Cash from operations, $m
  -220
  1,620
  1,761
  1,885
  2,014
  2,148
  2,287
  2,431
  2,581
  2,737
  2,898
  2,833
  3,007
  3,188
  3,377
  3,573
  3,777
  3,990
  4,212
  4,444
  4,686
  4,938
  5,202
  5,477
  5,766
  6,067
  6,382
  6,712
  7,058
  7,420
  7,799
Maintenance CAPEX, $m
  0
  -166
  -185
  -205
  -226
  -249
  -272
  -296
  -321
  -347
  -375
  -403
  -432
  -463
  -495
  -528
  -562
  -598
  -635
  -674
  -714
  -756
  -800
  -846
  -894
  -944
  -996
  -1,050
  -1,107
  -1,167
  -1,229
New CAPEX, $m
  -70
  -308
  -326
  -342
  -358
  -374
  -389
  -406
  -422
  -439
  -456
  -474
  -492
  -512
  -532
  -553
  -576
  -599
  -624
  -650
  -678
  -707
  -737
  -770
  -804
  -840
  -878
  -918
  -960
  -1,004
  -1,051
Cash from investing activities, $m
  -6,766
  -474
  -511
  -547
  -584
  -623
  -661
  -702
  -743
  -786
  -831
  -877
  -924
  -975
  -1,027
  -1,081
  -1,138
  -1,197
  -1,259
  -1,324
  -1,392
  -1,463
  -1,537
  -1,616
  -1,698
  -1,784
  -1,874
  -1,968
  -2,067
  -2,171
  -2,280
Free cash flow, $m
  -6,986
  1,147
  1,250
  1,338
  1,430
  1,526
  1,626
  1,730
  1,838
  1,951
  2,067
  1,956
  2,082
  2,214
  2,350
  2,492
  2,640
  2,793
  2,953
  3,120
  3,294
  3,475
  3,664
  3,862
  4,068
  4,284
  4,509
  4,744
  4,991
  5,248
  5,518
Issuance/(repayment) of debt, $m
  5,962
  591
  1,528
  1,603
  1,678
  1,752
  1,826
  1,902
  1,979
  2,057
  2,138
  2,222
  2,309
  2,400
  2,495
  2,595
  2,699
  2,810
  2,926
  3,048
  3,178
  3,314
  3,458
  3,609
  3,769
  3,938
  4,116
  4,304
  4,502
  4,711
  4,930
Issuance/(repurchase) of shares, $m
  -405
  689
  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  
  5,513
  1,280
  1,528
  1,603
  1,678
  1,752
  1,826
  1,902
  1,979
  2,057
  2,138
  2,222
  2,309
  2,400
  2,495
  2,595
  2,699
  2,810
  2,926
  3,048
  3,178
  3,314
  3,458
  3,609
  3,769
  3,938
  4,116
  4,304
  4,502
  4,711
  4,930
Total cash flow (excl. dividends), $m
  -1,514
  2,426
  2,778
  2,941
  3,108
  3,278
  3,452
  3,632
  3,817
  4,008
  4,206
  4,178
  4,391
  4,613
  4,845
  5,087
  5,339
  5,603
  5,879
  6,168
  6,471
  6,789
  7,122
  7,471
  7,837
  8,222
  8,625
  9,048
  9,493
  9,959
  10,448
Retained Cash Flow (-), $m
  189
  -1,002
  -170
  -178
  -186
  -195
  -203
  -211
  -220
  -229
  -238
  -247
  -257
  -267
  -277
  -288
  -300
  -312
  -325
  -339
  -353
  -368
  -384
  -401
  -419
  -438
  -457
  -478
  -500
  -523
  -548
Prev. year cash balance distribution, $m
 
  2,937
  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
 
  4,361
  2,609
  2,763
  2,921
  3,083
  3,249
  3,420
  3,597
  3,779
  3,968
  3,931
  4,135
  4,347
  4,568
  4,798
  5,039
  5,291
  5,554
  5,830
  6,118
  6,421
  6,738
  7,070
  7,419
  7,784
  8,168
  8,570
  8,992
  9,435
  9,901
Discount rate, %
 
  7.20
  7.56
  7.94
  8.33
  8.75
  9.19
  9.65
  10.13
  10.64
  11.17
  11.73
  12.31
  12.93
  13.58
  14.26
  14.97
  15.72
  16.50
  17.33
  18.19
  19.10
  20.06
  21.06
  22.11
  23.22
  24.38
  25.60
  26.88
  28.22
  29.64
PV of cash for distribution, $m
 
  4,068
  2,255
  2,197
  2,121
  2,027
  1,917
  1,795
  1,662
  1,521
  1,376
  1,161
  1,026
  895
  769
  650
  541
  442
  355
  280
  216
  163
  121
  87
  61
  42
  28
  18
  11
  7
  4
Current shareholders' claim on cash, %
  100
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0
  82.0

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products. Under the information protection category, it offers Data Loss Prevention, Encryption, Managed PKI, Service, VIP Access Manager, and Data Loss Prevention and CloudSOC products. The Company also offers consulting services, customer success services, cyber security services and education services. Its cyber security services include DeepSight Intelligence software, which provides an analysis of attacks. The Company offers the Blue Coat Security Platform, which provides Web security solutions for global enterprises and governments.

FINANCIAL RATIOS  of  Symantec (SYMC)

Valuation Ratios
P/E Ratio -185.4
Price to Sales 4.9
Price to Book 5.6
Price to Tangible Book
Price to Cash Flow -89.4
Price to Free Cash Flow -67.8
Growth Rates
Sales Growth Rate 11.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -74.3%
Cap. Spend. - 3 Yr. Gr. Rate -23.1%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 197.2%
Total Debt to Equity 234.8%
Interest Coverage -1
Management Effectiveness
Return On Assets 0.2%
Ret/ On Assets - 3 Yr. Avg. 8.7%
Return On Total Capital -1.2%
Ret/ On T. Cap. - 3 Yr. Avg. 15.2%
Return On Equity -3%
Return On Equity - 3 Yr. Avg. 21.3%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 78.8%
Gross Margin - 3 Yr. Avg. 81.1%
EBITDA Margin 10.2%
EBITDA Margin - 3 Yr. Avg. 15.6%
Operating Margin -2.5%
Oper. Margin - 3 Yr. Avg. 4.7%
Pre-Tax Margin -6.5%
Pre-Tax Margin - 3 Yr. Avg. 2.3%
Net Profit Margin -2.6%
Net Profit Margin - 3 Yr. Avg. 29.6%
Effective Tax Rate 9.9%
Eff/ Tax Rate - 3 Yr. Avg. 103.8%
Payout Ratio -209.4%

SYMC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SYMC stock intrinsic value calculation we used $4019 million for the last fiscal year's total revenue generated by Symantec. The default revenue input number comes from 2017 income statement of Symantec. 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 SYMC stock valuation model: a) initial revenue growth rate of 11.6% 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 7.2%, whose default value for SYMC is calculated based on our internal credit rating of Symantec, 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 Symantec.
    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 SYMC stock the variable cost ratio is equal to 87.3%.

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 SYMC 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 Symantec.

Corporate tax rate of 27% is the nominal tax rate for Symantec. 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 SYMC 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 SYMC are equal to 66.4%.

Life of production assets of 16.1 years is the average useful life of capital assets used in Symantec 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 SYMC is equal to -55.6%. 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 - $3487 million for Symantec - 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 616.559 million for Symantec 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 Symantec at the current share price and the inputted number of shares is $19.9 billion.

RELATED COMPANIES Price Int.Val. Rating
PFPT Proofpoint 95.10 16.86  str.sell
HPE Hewlett Packar 13.86 38.13  str.buy
IBM International 160.90 172.25  hold
FEYE FireEye 16.82 0.30  str.sell
MSFT Microsoft 77.91 60.76  hold
QLYS Qualys 51.20 32.77  sell
IMPV Imperva 41.85 2.20  str.sell
CSCO Cisco Systems 33.75 47.16  str.buy
CHKP Check Point So 117.90 96.20  hold

COMPANY NEWS

▶ Symantec to Webcast Quarterly Earnings Call   [Oct-12-17 04:05PM  Business Wire]
▶ [$$] Symantecs Shares Are Coming Undone   [Oct-10-17 10:34PM  The Wall Street Journal]
▶ Palo Alto Pops But Symantec, Qualys Fall On Analyst's Note   [04:55PM  Investor's Business Daily]
▶ Symantec: Whats Impressive about Splunk?   [10:38AM  Market Realist]
▶ Symantec: LifeLock Drawing Young Customers   [07:41AM  Market Realist]
▶ Inside Symantecs Strategic Acquisitions   [09:13AM  Market Realist]
▶ Cyber Security stocks on the rise: 3 trades   [Oct-04-17 05:00PM  CNBC Videos]
▶ Will Equifaxs Loss Be Symantecs LifeLock Gain?   [Oct-03-17 09:08AM  Market Realist]
▶ Analyzing Zyngas Fundamentals   [Sep-29-17 07:40AM  Market Realist]
▶ Is Equifax's Pain Symantec's Gain?   [Sep-28-17 09:31PM  Motley Fool]
▶ ETFs with exposure to Symantec Corp. : September 27, 2017   [Sep-27-17 10:40AM  Capital Cube]
▶ Why Municipalities Have to Prevent Cyber Attacks   [Sep-25-17 01:36PM  Market Realist]
▶ Extortion   [Sep-20-17 02:30PM  Investopedia]
▶ Bogus Online Transactions Are Up In Wake Of Equifax Breach   [Sep-14-17 02:02PM  Investor's Business Daily]
▶ ETFs with exposure to Symantec Corp. : September 14, 2017   [Sep-13-17 08:57PM  Capital Cube]
▶ The Market In 5 Minutes   [09:03AM  Benzinga]
▶ [$$] Equifax Breach to Lift Three Stocks   [Sep-12-17 03:41PM  Barrons.com]
▶ These Cybersecurity Stocks Are Rising On Equifax's Mass Hack   [Sep-08-17 04:21PM  Investor's Business Daily]
▶ S&P 500 Holds Support; Cybersecurity Names Jump   [01:44PM  Investor's Business Daily]
▶ Is Symantec Living Up to Expectations?   [10:36AM  Market Realist]
▶ Stocks With Rising Relative Strength: Symantec   [03:00AM  Investor's Business Daily]
▶ How Symantecs Expenses Are Trending   [Sep-06-17 04:36PM  Market Realist]
▶ How Wall Street Analysts View Symantec Stock   [07:35AM  Market Realist]
▶ Symantec CEO Clark Not Ruling Out Another Deal   [Sep-05-17 03:23PM  TheStreet.com]
▶ Behind HACKs Investment Strategy   [11:36AM  Market Realist]
▶ Why HACK?   [10:05AM  Market Realist]
▶ HACK: The Worlds First Cybersecurity ETF   [08:21AM  Market Realist]
▶ Did Symantecs Financial Performance Improve in Fiscal 1Q18?   [Sep-04-17 10:35AM  Market Realist]
▶ Symantec CEO Sees Broad-Based Internet Security Threats   [Aug-30-17 07:51PM  Bloomberg Video]
▶ Why Symantec Acquired Fireglass   [Aug-29-17 10:39AM  Market Realist]
▶ Symantec launches secure Wi-Fi router   [Aug-16-17 04:57PM  Yahoo Finance Video]
Financial statements of SYMC
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.