Intrinsic value of Triumph Group - TGI

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$26.20

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$26.20

 
Intrinsic value

$54.11

 
Up/down potential

+107%

 
Rating

str. buy

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

We calculate the intrinsic value of TGI 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 1.3

 

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, %
  -0.08
  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
  3,886
  3,964
  4,055
  4,159
  4,276
  4,406
  4,548
  4,703
  4,871
  5,051
  5,245
  5,452
  5,674
  5,909
  6,160
  6,425
  6,707
  7,005
  7,320
  7,653
  8,005
  8,376
  8,767
  9,180
  9,614
  10,072
  10,554
  11,061
  11,595
  12,157
  12,747
Variable operating expenses, $m
 
  3,517
  3,594
  3,683
  3,783
  3,893
  4,014
  4,146
  4,288
  4,442
  4,607
  4,639
  4,827
  5,028
  5,241
  5,467
  5,707
  5,960
  6,228
  6,512
  6,811
  7,127
  7,460
  7,811
  8,180
  8,570
  8,980
  9,411
  9,865
  10,343
  10,846
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
  4,977
  3,517
  3,594
  3,683
  3,783
  3,893
  4,014
  4,146
  4,288
  4,442
  4,607
  4,639
  4,827
  5,028
  5,241
  5,467
  5,707
  5,960
  6,228
  6,512
  6,811
  7,127
  7,460
  7,811
  8,180
  8,570
  8,980
  9,411
  9,865
  10,343
  10,846
Operating income, $m
  -1,091
  447
  460
  476
  493
  513
  534
  557
  582
  609
  638
  813
  846
  881
  919
  958
  1,000
  1,045
  1,092
  1,142
  1,194
  1,249
  1,308
  1,369
  1,434
  1,502
  1,574
  1,650
  1,729
  1,813
  1,901
EBITDA, $m
  -913
  682
  697
  715
  735
  758
  782
  809
  838
  869
  902
  938
  976
  1,016
  1,059
  1,105
  1,153
  1,205
  1,259
  1,316
  1,377
  1,441
  1,508
  1,579
  1,653
  1,732
  1,815
  1,902
  1,994
  2,091
  2,192
Interest expense (income), $m
  62
  63
  66
  71
  75
  80
  86
  93
  100
  107
  115
  124
  133
  143
  154
  165
  177
  190
  203
  217
  232
  248
  265
  282
  301
  320
  341
  363
  385
  409
  435
Earnings before tax, $m
  -1,159
  384
  394
  405
  418
  432
  448
  464
  482
  502
  523
  689
  713
  738
  765
  793
  823
  855
  889
  924
  962
  1,001
  1,043
  1,087
  1,133
  1,182
  1,233
  1,287
  1,344
  1,404
  1,467
Tax expense, $m
  -111
  104
  106
  109
  113
  117
  121
  125
  130
  136
  141
  186
  192
  199
  207
  214
  222
  231
  240
  250
  260
  270
  282
  293
  306
  319
  333
  348
  363
  379
  396
Net income, $m
  -1,048
  280
  288
  296
  305
  316
  327
  339
  352
  366
  382
  503
  520
  539
  558
  579
  601
  624
  649
  675
  702
  731
  761
  793
  827
  863
  900
  940
  981
  1,025
  1,071

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  21
  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
  4,835
  4,912
  5,025
  5,154
  5,299
  5,459
  5,636
  5,828
  6,035
  6,259
  6,499
  6,756
  7,031
  7,323
  7,633
  7,962
  8,311
  8,680
  9,071
  9,484
  9,919
  10,379
  10,864
  11,375
  11,914
  12,481
  13,078
  13,707
  14,368
  15,064
  15,796
Adjusted assets (=assets-cash), $m
  4,814
  4,912
  5,025
  5,154
  5,299
  5,459
  5,636
  5,828
  6,035
  6,259
  6,499
  6,756
  7,031
  7,323
  7,633
  7,962
  8,311
  8,680
  9,071
  9,484
  9,919
  10,379
  10,864
  11,375
  11,914
  12,481
  13,078
  13,707
  14,368
  15,064
  15,796
Revenue / Adjusted assets
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
  0.807
Average production assets, $m
  1,728
  1,764
  1,804
  1,851
  1,903
  1,961
  2,024
  2,093
  2,167
  2,248
  2,334
  2,426
  2,525
  2,630
  2,741
  2,859
  2,985
  3,117
  3,258
  3,406
  3,562
  3,727
  3,901
  4,085
  4,278
  4,482
  4,697
  4,922
  5,160
  5,410
  5,672
Working capital, $m
  607
  642
  657
  674
  693
  714
  737
  762
  789
  818
  850
  883
  919
  957
  998
  1,041
  1,087
  1,135
  1,186
  1,240
  1,297
  1,357
  1,420
  1,487
  1,558
  1,632
  1,710
  1,792
  1,878
  1,969
  2,065
Total debt, $m
  1,417
  1,476
  1,567
  1,671
  1,788
  1,917
  2,059
  2,214
  2,381
  2,562
  2,755
  2,963
  3,184
  3,419
  3,669
  3,934
  4,216
  4,513
  4,828
  5,161
  5,512
  5,883
  6,273
  6,685
  7,119
  7,577
  8,058
  8,565
  9,098
  9,658
  10,248
Total liabilities, $m
  3,900
  3,959
  4,050
  4,154
  4,271
  4,400
  4,542
  4,697
  4,864
  5,045
  5,238
  5,446
  5,667
  5,902
  6,152
  6,417
  6,699
  6,996
  7,311
  7,644
  7,995
  8,366
  8,756
  9,168
  9,602
  10,060
  10,541
  11,048
  11,581
  12,141
  12,731
Total equity, $m
  935
  953
  975
  1,000
  1,028
  1,059
  1,093
  1,131
  1,171
  1,214
  1,261
  1,311
  1,364
  1,421
  1,481
  1,545
  1,612
  1,684
  1,760
  1,840
  1,924
  2,014
  2,108
  2,207
  2,311
  2,421
  2,537
  2,659
  2,787
  2,922
  3,064
Total liabilities and equity, $m
  4,835
  4,912
  5,025
  5,154
  5,299
  5,459
  5,635
  5,828
  6,035
  6,259
  6,499
  6,757
  7,031
  7,323
  7,633
  7,962
  8,311
  8,680
  9,071
  9,484
  9,919
  10,380
  10,864
  11,375
  11,913
  12,481
  13,078
  13,707
  14,368
  15,063
  15,795
Debt-to-equity ratio
  1.516
  1.550
  1.610
  1.670
  1.740
  1.810
  1.880
  1.960
  2.030
  2.110
  2.190
  2.260
  2.330
  2.410
  2.480
  2.550
  2.610
  2.680
  2.740
  2.810
  2.860
  2.920
  2.980
  3.030
  3.080
  3.130
  3.180
  3.220
  3.260
  3.300
  3.340
Adjusted equity ratio
  0.190
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194
  0.194

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -1,048
  280
  288
  296
  305
  316
  327
  339
  352
  366
  382
  503
  520
  539
  558
  579
  601
  624
  649
  675
  702
  731
  761
  793
  827
  863
  900
  940
  981
  1,025
  1,071
Depreciation, amort., depletion, $m
  178
  235
  237
  239
  242
  245
  248
  252
  256
  260
  264
  124
  129
  135
  141
  147
  153
  160
  167
  175
  183
  191
  200
  209
  219
  230
  241
  252
  265
  277
  291
Funds from operations, $m
  407
  515
  525
  535
  547
  561
  575
  591
  608
  626
  646
  628
  650
  674
  699
  726
  754
  784
  816
  849
  885
  922
  961
  1,003
  1,047
  1,093
  1,141
  1,192
  1,246
  1,302
  1,362
Change in working capital, $m
  323
  13
  15
  17
  19
  21
  23
  25
  27
  29
  31
  34
  36
  38
  41
  43
  46
  48
  51
  54
  57
  60
  63
  67
  70
  74
  78
  82
  86
  91
  96
Cash from operations, $m
  84
  314
  510
  518
  528
  540
  552
  566
  581
  597
  614
  594
  614
  636
  658
  683
  708
  736
  765
  795
  828
  862
  898
  936
  976
  1,019
  1,063
  1,110
  1,159
  1,211
  1,266
Maintenance CAPEX, $m
  0
  -89
  -90
  -93
  -95
  -98
  -101
  -104
  -107
  -111
  -115
  -120
  -124
  -129
  -135
  -141
  -147
  -153
  -160
  -167
  -175
  -183
  -191
  -200
  -209
  -219
  -230
  -241
  -252
  -265
  -277
New CAPEX, $m
  -80
  -36
  -41
  -46
  -52
  -58
  -63
  -69
  -75
  -80
  -86
  -92
  -98
  -105
  -111
  -118
  -125
  -133
  -140
  -148
  -156
  -165
  -174
  -184
  -193
  -204
  -214
  -226
  -238
  -250
  -263
Cash from investing activities, $m
  -128
  -125
  -131
  -139
  -147
  -156
  -164
  -173
  -182
  -191
  -201
  -212
  -222
  -234
  -246
  -259
  -272
  -286
  -300
  -315
  -331
  -348
  -365
  -384
  -402
  -423
  -444
  -467
  -490
  -515
  -540
Free cash flow, $m
  -44
  189
  379
  380
  381
  384
  388
  393
  399
  405
  413
  382
  391
  401
  412
  424
  437
  450
  465
  480
  497
  514
  533
  553
  573
  595
  619
  643
  669
  697
  726
Issuance/(repayment) of debt, $m
  41
  80
  91
  104
  117
  129
  142
  155
  167
  180
  194
  207
  221
  235
  250
  265
  281
  298
  315
  333
  351
  371
  391
  412
  434
  457
  481
  507
  533
  561
  590
Issuance/(repurchase) of shares, $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
  0
Cash from financing (excl. dividends), $m  
  40
  80
  91
  104
  117
  129
  142
  155
  167
  180
  194
  207
  221
  235
  250
  265
  281
  298
  315
  333
  351
  371
  391
  412
  434
  457
  481
  507
  533
  561
  590
Total cash flow (excl. dividends), $m
  -4
  269
  470
  484
  498
  514
  530
  548
  566
  586
  606
  589
  612
  637
  662
  689
  718
  748
  779
  813
  848
  885
  924
  964
  1,007
  1,053
  1,100
  1,150
  1,202
  1,258
  1,316
Retained Cash Flow (-), $m
  1,201
  -18
  -22
  -25
  -28
  -31
  -34
  -37
  -40
  -43
  -47
  -50
  -53
  -57
  -60
  -64
  -68
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -104
  -110
  -116
  -122
  -128
  -135
  -142
Prev. year cash balance distribution, $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 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
 
  251
  448
  459
  470
  483
  496
  510
  526
  542
  560
  539
  559
  580
  602
  625
  650
  676
  704
  733
  763
  796
  830
  865
  903
  943
  984
  1,028
  1,074
  1,123
  1,174
Discount rate, %
 
  10.80
  11.34
  11.91
  12.50
  13.13
  13.78
  14.47
  15.20
  15.96
  16.75
  17.59
  18.47
  19.40
  20.37
  21.38
  22.45
  23.58
  24.75
  25.99
  27.29
  28.66
  30.09
  31.59
  33.17
  34.83
  36.57
  38.40
  40.32
  42.34
  44.45
PV of cash for distribution, $m
 
  227
  361
  327
  293
  260
  229
  198
  170
  143
  119
  91
  73
  58
  45
  34
  25
  19
  13
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
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

Triumph Group, Inc. designs, engineers, manufactures, repairs, overhauls, and distributes aero structures, aircraft components, accessories, subassemblies, and systems worldwide. Its Aerostructures Group segment designs, manufactures, builds, and repairs acoustic and thermal insulation systems, aircraft wings, composite and metal bonding, composite ducts and floor panels, empennages, engine nacelles, flight control surfaces, helicopter cabins, precision machined parts, stretch-formed leading edges and fuselage skins, and wing spars and stringers. The company’s Aerospace Systems Group segment designs, engineers, builds, and repairs aircraft and engine mounted accessory drives, cargo hooks, cockpit control levers, control system valve bodies, electronic engine controls, exhaust nozzles and ducting, geared transmissions and drive train components, fuel metering units, thermal control systems and components, high lift actuations, hydraulic systems and components, landing gear actuation systems, landing gear components and assemblies, main engine gear box assemblies, main fuel pumps, secondary flight control systems, and vibration absorbers. Its Aftermarket Services Group segment provides maintenance, repair, and overhaul (MRO) services for aircraft components and accessories manufactured by third parties; and supplies spare parts for commercial and military aviation industry. This segment also designs, engineers, manufactures, repairs, and overhauls aftermarket aerospace gas turbine engine components; and offers MRO solutions, leasing packages, exchange programs, and parts and services to airline, air cargo, and third-party overhaul facilities. The company serves the aviation industry, including original equipment manufacturers of commercial, regional, business, and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers. Triumph Group, Inc. was founded in 1993 and is headquartered in Berwyn, Pennsylvania.

FINANCIAL RATIOS  of  Triumph Group (TGI)

Valuation Ratios
P/E Ratio -1.2
Price to Sales 0.3
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 15.4
Price to Free Cash Flow 323.1
Growth Rates
Sales Growth Rate -0.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -27.3%
Cap. Spend. - 3 Yr. Gr. Rate -8.8%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 147.1%
Total Debt to Equity 151.6%
Interest Coverage -18
Management Effectiveness
Return On Assets -18.4%
Ret/ On Assets - 3 Yr. Avg. -2.8%
Return On Total Capital -35.8%
Ret/ On T. Cap. - 3 Yr. Avg. -7.9%
Return On Equity -68.3%
Return On Equity - 3 Yr. Avg. -16%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 8.3%
Gross Margin - 3 Yr. Avg. 16.7%
EBITDA Margin -23.6%
EBITDA Margin - 3 Yr. Avg. 2.1%
Operating Margin -28.1%
Oper. Margin - 3 Yr. Avg. -2.1%
Pre-Tax Margin -29.8%
Pre-Tax Margin - 3 Yr. Avg. -4.2%
Net Profit Margin -27%
Net Profit Margin - 3 Yr. Avg. -5.1%
Effective Tax Rate 9.6%
Eff/ Tax Rate - 3 Yr. Avg. 25%
Payout Ratio -0.8%

TGI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TGI stock intrinsic value calculation we used $3886 million for the last fiscal year's total revenue generated by Triumph Group. The default revenue input number comes from 2016 income statement of Triumph Group. 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 TGI 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 10.8%, whose default value for TGI is calculated based on our internal credit rating of Triumph Group, 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 Triumph Group.
    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 TGI stock the variable cost ratio is equal to 88.8%.

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 TGI 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 4.5% for Triumph Group.

Corporate tax rate of 27% is the nominal tax rate for Triumph Group. 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 TGI 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 TGI are equal to 44.5%.

Life of production assets of 19.5 years is the average useful life of capital assets used in Triumph Group 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 TGI is equal to 16.2%. 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 - $935 million for Triumph Group - 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 50.097 million for Triumph Group 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 Triumph Group at the current share price and the inputted number of shares is $1.3 billion.


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COMPANY NEWS

▶ Triumph Group Declares Quarterly Dividend   [Feb-14-17 05:46PM  Business Wire]
▶ Triumph talking with Boeing about potential early end to 747   [Feb-07-17 12:05PM  at bizjournals.com]
▶ Triumph Appoints New Business Development Lead   [Feb-01-17 05:29PM  Business Wire]
▶ Is Omnicell, Inc. (OMCL) a Good Stock to Buy?   [Dec-20-16 02:51PM  at Insider Monkey]
▶ [$$] Gores Buying Three Businesses From Triumph Group   [12:08PM  at The Wall Street Journal]
▶ Triumph Group Inc (TGI): Should It Be Part of Your Portfolio?   [Dec-04-16 05:56PM  at Insider Monkey]
▶ Why Triumph Group Stock Soared 14% in November   [Dec-02-16 01:49PM  at Motley Fool]
▶ Triumph Group Declares Quarterly Dividend   [Nov-21-16 03:39PM  Business Wire]
▶ [$$] Boeing Reverses Course On 747 Work   [Oct-19-16 12:47PM  at The Wall Street Journal]
▶ Why Shares of Triumph Group Plunged 18% Today   [12:41PM  at Motley Fool]
▶ Triumph Appoints New Chief Financial Officer   [02:30PM  Business Wire]
Stock chart of TGI Financial statements of TGI
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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