Intrinsic value of Syntel - SYNT

Previous Close

$25.26

  Intrinsic Value

$3.88

stock screener

  Rating & Target

str. sell

-85%

Previous close

$25.26

 
Intrinsic value

$3.88

 
Up/down potential

-85%

 
Rating

str. sell

We calculate the intrinsic value of SYNT 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 2.1

 

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, %
  -0.21
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  967
  986
  1,009
  1,035
  1,064
  1,096
  1,132
  1,170
  1,212
  1,257
  1,305
  1,357
  1,412
  1,470
  1,533
  1,599
  1,669
  1,743
  1,822
  1,904
  1,992
  2,084
  2,182
  2,284
  2,392
  2,506
  2,626
  2,752
  2,885
  3,025
  3,172
Variable operating expenses, $m
 
  697
  713
  732
  752
  775
  800
  827
  857
  889
  923
  959
  998
  1,039
  1,084
  1,130
  1,180
  1,232
  1,288
  1,346
  1,408
  1,473
  1,542
  1,615
  1,691
  1,772
  1,857
  1,946
  2,040
  2,138
  2,242
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
  704
  697
  713
  732
  752
  775
  800
  827
  857
  889
  923
  959
  998
  1,039
  1,084
  1,130
  1,180
  1,232
  1,288
  1,346
  1,408
  1,473
  1,542
  1,615
  1,691
  1,772
  1,857
  1,946
  2,040
  2,138
  2,242
Operating income, $m
  262
  289
  296
  303
  312
  321
  332
  343
  355
  368
  382
  398
  414
  431
  449
  469
  489
  511
  534
  558
  584
  611
  639
  670
  701
  735
  770
  807
  846
  887
  930
EBITDA, $m
  277
  304
  311
  319
  328
  338
  349
  361
  374
  388
  403
  419
  436
  454
  473
  493
  515
  538
  562
  588
  615
  643
  673
  705
  738
  773
  810
  849
  890
  934
  979
Interest expense (income), $m
  3
  17
  7
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  22
  23
  24
  26
  27
  29
  30
Earnings before tax, $m
  273
  272
  289
  296
  305
  314
  324
  335
  346
  359
  373
  387
  403
  420
  437
  456
  476
  496
  519
  542
  567
  593
  620
  649
  680
  712
  746
  781
  819
  858
  900
Tax expense, $m
  330
  74
  78
  80
  82
  85
  87
  90
  94
  97
  101
  105
  109
  113
  118
  123
  128
  134
  140
  146
  153
  160
  167
  175
  184
  192
  201
  211
  221
  232
  243
Net income, $m
  -57
  199
  211
  216
  222
  229
  236
  244
  253
  262
  272
  283
  294
  306
  319
  333
  347
  362
  379
  396
  414
  433
  453
  474
  496
  520
  544
  570
  598
  626
  657

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  100
  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
  455
  362
  370
  380
  391
  402
  415
  430
  445
  461
  479
  498
  518
  540
  563
  587
  613
  640
  669
  699
  731
  765
  801
  839
  878
  920
  964
  1,010
  1,059
  1,111
  1,164
Adjusted assets (=assets-cash), $m
  355
  362
  370
  380
  391
  402
  415
  430
  445
  461
  479
  498
  518
  540
  563
  587
  613
  640
  669
  699
  731
  765
  801
  839
  878
  920
  964
  1,010
  1,059
  1,111
  1,164
Revenue / Adjusted assets
  2.724
  2.724
  2.727
  2.724
  2.721
  2.726
  2.728
  2.721
  2.724
  2.727
  2.724
  2.725
  2.726
  2.722
  2.723
  2.724
  2.723
  2.723
  2.723
  2.724
  2.725
  2.724
  2.724
  2.722
  2.724
  2.724
  2.724
  2.725
  2.724
  2.723
  2.725
Average production assets, $m
  106
  108
  111
  114
  117
  121
  124
  129
  133
  138
  144
  149
  155
  162
  169
  176
  184
  192
  200
  209
  219
  229
  240
  251
  263
  276
  289
  303
  317
  333
  349
Working capital, $m
  147
  69
  71
  72
  74
  77
  79
  82
  85
  88
  91
  95
  99
  103
  107
  112
  117
  122
  128
  133
  139
  146
  153
  160
  167
  175
  184
  193
  202
  212
  222
Total debt, $m
  500
  188
  195
  204
  214
  224
  236
  249
  262
  277
  293
  310
  328
  348
  368
  390
  413
  438
  464
  491
  520
  551
  583
  617
  652
  690
  730
  771
  815
  861
  910
Total liabilities, $m
  638
  326
  333
  342
  352
  362
  374
  387
  400
  415
  431
  448
  466
  486
  506
  528
  551
  576
  602
  629
  658
  689
  721
  755
  790
  828
  868
  909
  953
  999
  1,048
Total equity, $m
  -183
  36
  37
  38
  39
  40
  42
  43
  44
  46
  48
  50
  52
  54
  56
  59
  61
  64
  67
  70
  73
  77
  80
  84
  88
  92
  96
  101
  106
  111
  116
Total liabilities and equity, $m
  455
  362
  370
  380
  391
  402
  416
  430
  444
  461
  479
  498
  518
  540
  562
  587
  612
  640
  669
  699
  731
  766
  801
  839
  878
  920
  964
  1,010
  1,059
  1,110
  1,164
Debt-to-equity ratio
  -2.732
  5.190
  5.270
  5.370
  5.470
  5.570
  5.680
  5.790
  5.900
  6.010
  6.120
  6.230
  6.340
  6.440
  6.550
  6.650
  6.750
  6.840
  6.940
  7.030
  7.110
  7.200
  7.280
  7.350
  7.430
  7.500
  7.570
  7.630
  7.700
  7.760
  7.810
Adjusted equity ratio
  -0.797
  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
  -57
  199
  211
  216
  222
  229
  236
  244
  253
  262
  272
  283
  294
  306
  319
  333
  347
  362
  379
  396
  414
  433
  453
  474
  496
  520
  544
  570
  598
  626
  657
Depreciation, amort., depletion, $m
  15
  15
  16
  16
  17
  17
  18
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  28
  30
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  49
Funds from operations, $m
  10
  214
  227
  233
  239
  246
  254
  263
  272
  282
  292
  304
  316
  329
  343
  357
  373
  389
  407
  425
  445
  465
  487
  509
  533
  558
  585
  613
  642
  673
  706
Change in working capital, $m
  22
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  10
Cash from operations, $m
  -12
  213
  225
  231
  237
  244
  252
  260
  269
  279
  289
  300
  312
  325
  338
  353
  368
  384
  401
  419
  438
  459
  480
  502
  526
  550
  577
  604
  633
  664
  696
Maintenance CAPEX, $m
  0
  -15
  -15
  -16
  -16
  -16
  -17
  -18
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -39
  -41
  -43
  -45
  -47
New CAPEX, $m
  -18
  -2
  -2
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
Cash from investing activities, $m
  495
  -17
  -17
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -24
  -26
  -27
  -28
  -30
  -31
  -33
  -34
  -36
  -37
  -40
  -41
  -43
  -45
  -47
  -50
  -52
  -55
  -58
  -60
  -63
Free cash flow, $m
  483
  195
  207
  212
  218
  224
  231
  238
  246
  255
  264
  274
  285
  297
  309
  322
  336
  350
  366
  382
  399
  417
  437
  457
  478
  501
  525
  550
  576
  603
  633
Issuance/(repayment) of debt, $m
  370
  -291
  7
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  21
  22
  23
  25
  26
  27
  29
  31
  32
  34
  36
  38
  40
  42
  44
  46
  49
Issuance/(repurchase) of shares, $m
  -10
  99
  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  
  360
  -192
  7
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  21
  22
  23
  25
  26
  27
  29
  31
  32
  34
  36
  38
  40
  42
  44
  46
  49
Total cash flow (excl. dividends), $m
  840
  4
  215
  221
  227
  234
  242
  251
  260
  270
  280
  291
  303
  316
  329
  344
  359
  375
  392
  409
  428
  448
  469
  491
  514
  538
  564
  591
  620
  650
  681
Retained Cash Flow (-), $m
  1,341
  -298
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
Prev. year cash balance distribution, $m
 
  79
  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
 
  -216
  214
  220
  226
  233
  241
  249
  258
  268
  278
  289
  301
  314
  327
  341
  356
  372
  389
  406
  425
  445
  465
  487
  510
  534
  560
  587
  615
  644
  676
Discount rate, %
 
  16.10
  16.91
  17.75
  18.64
  19.57
  20.55
  21.58
  22.65
  23.79
  24.98
  26.23
  27.54
  28.91
  30.36
  31.88
  33.47
  35.14
  36.90
  38.75
  40.68
  42.72
  44.85
  47.10
  49.45
  51.92
  54.52
  57.25
  60.11
  63.11
  66.27
PV of cash for distribution, $m
 
  -186
  157
  135
  114
  95
  79
  64
  50
  39
  30
  22
  16
  12
  8
  5
  4
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
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  50.0
  50.0
  50.0
  50.0
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Syntel, Inc. (Syntel) is a global provider of digital transformation, information technology (IT) and knowledge process outsourcing (KPO) services. The Company operates through five segments: Banking and Financial Services, Healthcare and Life Sciences, Insurance, Manufacturing, and Retail, Logistics and Telecom. Syntel provides a range of services to its customers through its IT services, including Managed Services, Digital One and through its KPO services. Through its Managed Services offering, the Company provides software applications development, maintenance, testing, IT infrastructure, cloud and migration services. Through its SyntBots platform, the Company delivers internally developed automation capabilities that improve the productivity and quality of its Managed Services offerings. The Company's Digital One service line centralizes the delivery of digital architecture, Web and mobile applications, user experience, Big Data, analytics, social and Internet of Things services.

FINANCIAL RATIOS  of  Syntel (SYNT)

Valuation Ratios
P/E Ratio -37.1
Price to Sales 2.2
Price to Book -11.5
Price to Tangible Book
Price to Cash Flow -176
Price to Free Cash Flow -70.4
Growth Rates
Sales Growth Rate -0.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 5.9%
Cap. Spend. - 3 Yr. Gr. Rate -3%
Financial Strength
Quick Ratio 5
Current Ratio 0.3
LT Debt to Equity -261.7%
Total Debt to Equity -273.2%
Interest Coverage 92
Management Effectiveness
Return On Assets -6.1%
Ret/ On Assets - 3 Yr. Avg. 11.9%
Return On Total Capital -7.1%
Ret/ On T. Cap. - 3 Yr. Avg. 13.3%
Return On Equity -11.7%
Return On Equity - 3 Yr. Avg. 14.1%
Asset Turnover 1
Profitability Ratios
Gross Margin 38.4%
Gross Margin - 3 Yr. Avg. 39.8%
EBITDA Margin 30.1%
EBITDA Margin - 3 Yr. Avg. 34.2%
Operating Margin 27.2%
Oper. Margin - 3 Yr. Avg. 28.6%
Pre-Tax Margin 28.2%
Pre-Tax Margin - 3 Yr. Avg. 32.3%
Net Profit Margin -5.9%
Net Profit Margin - 3 Yr. Avg. 15.9%
Effective Tax Rate 120.9%
Eff/ Tax Rate - 3 Yr. Avg. 55%
Payout Ratio -2214%

SYNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SYNT stock intrinsic value calculation we used $967 million for the last fiscal year's total revenue generated by Syntel. The default revenue input number comes from 2016 income statement of Syntel. 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 SYNT stock valuation model: a) initial revenue growth rate of 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 16.1%, whose default value for SYNT is calculated based on our internal credit rating of Syntel, 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 Syntel.
    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 SYNT stock the variable cost ratio is equal to 70.7%.

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 SYNT 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 Syntel.

Corporate tax rate of 27% is the nominal tax rate for Syntel. 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 SYNT 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 SYNT are equal to 11%.

Life of production assets of 7.1 years is the average useful life of capital assets used in Syntel 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 SYNT is equal to 7%. 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 - $-183 million for Syntel - 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 83.711 million for Syntel 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 Syntel at the current share price and the inputted number of shares is $2.1 billion.

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COMPANY NEWS

▶ ETFs with exposure to Syntel, Inc. : December 13, 2017   [Dec-13-17 02:01PM  Capital Cube]
▶ Syntel (SYNT) Surges: Stock Moves 6.4% Higher   [Nov-15-17 08:43AM  Zacks]
▶ 5 Excellent GARP Picks Based on PEG Ratio   [Nov-03-17 09:29AM  Zacks]
▶ Syntel Shows Rising Price Performance With Jump To 81 RS Rating   [Nov-01-17 03:00AM  Investor's Business Daily]
▶ Syntel, Inc.: Strong price momentum but will it sustain?   [Oct-18-17 09:29AM  Capital Cube]
▶ Why Syntel Shares Jumped Today   [11:37AM  Motley Fool]
▶ Syntel tops Street 3Q forecasts   [08:49AM  Associated Press]
▶ Should You Buy Syntel Inc (SYNT)?   [Sep-22-17 06:01PM  Simply Wall St.]
▶ ETFs with exposure to Syntel, Inc. : August 15, 2017   [Aug-15-17 05:10PM  Capital Cube]
▶ 5 Cheap Breakout Stocks Offering Strong Returns   [Aug-08-17 08:40AM  Zacks]
▶ Syntel tops Street 2Q forecasts   [12:31AM  Associated Press]
▶ Tech stock with surprisingly big headcount jumps on day dominated by Amazon and Sears   [Jul-20-17 05:30PM  American City Business Journals]
▶ Why Syntel Shares Jumped Today   [02:23PM  Motley Fool]
▶ Syntel Names Rakesh Khanna CEO and President   [Jul-18-17 08:30AM  GlobeNewswire]
▶ Syntel, Inc. Value Analysis (NASDAQ:SYNT) : June 2, 2017   [Jun-02-17 03:05PM  Capital Cube]
▶ Syntel to Present at Investor Conference   [May-31-17 08:30AM  GlobeNewswire]
▶ Syntel to Present at Investor Conference   [May-25-17 08:30AM  GlobeNewswire]
▶ Syntel to Present at Investor Conference   [May-15-17 11:30AM  GlobeNewswire]
▶ MaziValue's 1st-Quarter Performance   [May-05-17 03:38PM  GuruFocus.com]
▶ ETFs with exposure to Syntel, Inc. : May 2, 2017   [May-02-17 04:43PM  Capital Cube]
▶ Syntel beats Street 1Q forecasts   [Apr-20-17 08:35AM  Associated Press]
▶ 5 Earnings Plays That Could Squeeze the Shorts   [Apr-17-17 12:30PM  TheStreet.com]
▶ Earnings Season's Back: Stocks With Big Upside   [Apr-14-17 03:31PM  Benzinga]
▶ ETFs with exposure to Syntel, Inc. : April 5, 2017   [Apr-05-17 05:31PM  Capital Cube]
▶ What Makes Syntel (SYNT) a Strong Sell?   [Feb-24-17 08:40AM  Zacks]
▶ Why Syntel, Inc. Shares Got Clobbered Today   [Feb-16-17 01:33PM  Motley Fool]
▶ Syntel beats Street 4Q forecasts   [08:47AM  Associated Press]
▶ [$$] Skepticism About Syntel Creates an Opportunity   [Jan-28-17 12:01AM  at Barrons.com]
▶ Syntel to Present at Investor Conference   [10:00AM  GlobeNewswire]
▶ Syntel Inc.: Value at a Value Price   [Jan-03-17 12:52PM  Gurufocus]
▶ Hedge Funds Arent Crazy About Syntel, Inc. (SYNT) Anymore   [Dec-09-16 05:56AM  at Insider Monkey]
▶ Interim CEO Invests in IT Company   [Dec-07-16 10:47AM  Gurufocus]
▶ *** DATA NOT AVAILABLE ***   [Nov-23-16 04:41AM  at noodls]
Financial statements of SYNT
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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