Intrinsic value of Tutor Perini - TPC

Previous Close

$23.95

  Intrinsic Value

$14.44

stock screener

  Rating & Target

sell

-40%

  Value-price divergence*

-98%

Previous close

$23.95

 
Intrinsic value

$14.44

 
Up/down potential

-40%

 
Rating

sell

 
Value-price divergence*

-98%

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

We calculate the intrinsic value of TPC 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 1.2

 

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, %
  1.08
  2.90
  3.11
  3.30
  3.47
  3.62
  3.76
  3.88
  4.00
  4.10
  4.19
  4.27
  4.34
  4.41
  4.47
  4.52
  4.57
  4.61
  4.65
  4.68
  4.72
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
Revenue, $m
  4,973
  5,117
  5,276
  5,450
  5,640
  5,844
  6,064
  6,299
  6,551
  6,819
  7,104
  7,408
  7,729
  8,070
  8,430
  8,811
  9,214
  9,639
  10,087
  10,559
  11,057
  11,582
  12,134
  12,716
  13,328
  13,972
  14,650
  15,362
  16,112
  16,900
  17,728
Variable operating expenses, $m
 
  5,008
  5,162
  5,330
  5,513
  5,711
  5,923
  6,151
  6,395
  6,654
  6,930
  7,165
  7,476
  7,805
  8,154
  8,523
  8,912
  9,323
  9,756
  10,213
  10,695
  11,203
  11,737
  12,299
  12,892
  13,515
  14,170
  14,859
  15,584
  16,346
  17,147
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
  4,771
  5,008
  5,162
  5,330
  5,513
  5,711
  5,923
  6,151
  6,395
  6,654
  6,930
  7,165
  7,476
  7,805
  8,154
  8,523
  8,912
  9,323
  9,756
  10,213
  10,695
  11,203
  11,737
  12,299
  12,892
  13,515
  14,170
  14,859
  15,584
  16,346
  17,147
Operating income, $m
  202
  109
  114
  120
  126
  133
  140
  148
  156
  165
  174
  243
  253
  264
  276
  289
  302
  316
  330
  346
  362
  379
  398
  417
  437
  458
  480
  503
  528
  554
  581
EBITDA, $m
  270
  203
  209
  216
  224
  232
  240
  250
  260
  270
  282
  294
  307
  320
  334
  349
  365
  382
  400
  419
  439
  459
  481
  504
  529
  554
  581
  609
  639
  670
  703
Interest expense (income), $m
  47
  40
  45
  49
  54
  60
  66
  72
  79
  86
  94
  102
  111
  120
  130
  140
  151
  163
  175
  188
  202
  216
  232
  248
  264
  282
  301
  320
  341
  363
  386
Earnings before tax, $m
  149
  69
  70
  71
  72
  73
  75
  76
  77
  79
  80
  141
  142
  144
  146
  148
  150
  153
  155
  158
  160
  163
  166
  169
  172
  176
  179
  183
  187
  191
  195
Tax expense, $m
  53
  19
  19
  19
  19
  20
  20
  21
  21
  21
  22
  38
  38
  39
  39
  40
  41
  41
  42
  43
  43
  44
  45
  46
  46
  47
  48
  49
  50
  52
  53
Net income, $m
  96
  50
  51
  52
  53
  54
  54
  55
  56
  58
  59
  103
  104
  105
  107
  108
  110
  111
  113
  115
  117
  119
  121
  123
  126
  128
  131
  134
  136
  139
  143

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  146
  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
  4,039
  4,007
  4,132
  4,268
  4,416
  4,576
  4,748
  4,933
  5,130
  5,340
  5,563
  5,801
  6,053
  6,319
  6,602
  6,900
  7,215
  7,548
  7,899
  8,269
  8,659
  9,070
  9,502
  9,958
  10,437
  10,942
  11,472
  12,030
  12,617
  13,234
  13,883
Adjusted assets (=assets-cash), $m
  3,893
  4,007
  4,132
  4,268
  4,416
  4,576
  4,748
  4,933
  5,130
  5,340
  5,563
  5,801
  6,053
  6,319
  6,602
  6,900
  7,215
  7,548
  7,899
  8,269
  8,659
  9,070
  9,502
  9,958
  10,437
  10,942
  11,472
  12,030
  12,617
  13,234
  13,883
Revenue / Adjusted assets
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
  1.277
Average production assets, $m
  596
  614
  633
  654
  677
  701
  728
  756
  786
  818
  853
  889
  928
  968
  1,012
  1,057
  1,106
  1,157
  1,210
  1,267
  1,327
  1,390
  1,456
  1,526
  1,599
  1,677
  1,758
  1,843
  1,933
  2,028
  2,127
Working capital, $m
  1,319
  1,295
  1,335
  1,379
  1,427
  1,478
  1,534
  1,594
  1,657
  1,725
  1,797
  1,874
  1,956
  2,042
  2,133
  2,229
  2,331
  2,439
  2,552
  2,672
  2,798
  2,930
  3,070
  3,217
  3,372
  3,535
  3,706
  3,887
  4,076
  4,276
  4,485
Total debt, $m
  760
  742
  819
  903
  994
  1,093
  1,199
  1,313
  1,434
  1,563
  1,701
  1,847
  2,002
  2,167
  2,341
  2,524
  2,719
  2,923
  3,140
  3,368
  3,608
  3,861
  4,127
  4,408
  4,703
  5,014
  5,341
  5,685
  6,046
  6,426
  6,826
Total liabilities, $m
  2,486
  2,468
  2,545
  2,629
  2,720
  2,819
  2,925
  3,039
  3,160
  3,289
  3,427
  3,573
  3,728
  3,893
  4,067
  4,250
  4,445
  4,649
  4,866
  5,094
  5,334
  5,587
  5,853
  6,134
  6,429
  6,740
  7,067
  7,411
  7,772
  8,152
  8,552
Total equity, $m
  1,553
  1,539
  1,587
  1,639
  1,696
  1,757
  1,823
  1,894
  1,970
  2,051
  2,136
  2,228
  2,324
  2,427
  2,535
  2,650
  2,771
  2,898
  3,033
  3,175
  3,325
  3,483
  3,649
  3,824
  4,008
  4,202
  4,405
  4,620
  4,845
  5,082
  5,331
Total liabilities and equity, $m
  4,039
  4,007
  4,132
  4,268
  4,416
  4,576
  4,748
  4,933
  5,130
  5,340
  5,563
  5,801
  6,052
  6,320
  6,602
  6,900
  7,216
  7,547
  7,899
  8,269
  8,659
  9,070
  9,502
  9,958
  10,437
  10,942
  11,472
  12,031
  12,617
  13,234
  13,883
Debt-to-equity ratio
  0.489
  0.480
  0.520
  0.550
  0.590
  0.620
  0.660
  0.690
  0.730
  0.760
  0.800
  0.830
  0.860
  0.890
  0.920
  0.950
  0.980
  1.010
  1.040
  1.060
  1.090
  1.110
  1.130
  1.150
  1.170
  1.190
  1.210
  1.230
  1.250
  1.260
  1.280
Adjusted equity ratio
  0.361
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  96
  50
  51
  52
  53
  54
  54
  55
  56
  58
  59
  103
  104
  105
  107
  108
  110
  111
  113
  115
  117
  119
  121
  123
  126
  128
  131
  134
  136
  139
  143
Depreciation, amort., depletion, $m
  68
  94
  95
  96
  97
  99
  100
  102
  104
  106
  107
  51
  53
  56
  58
  61
  64
  66
  70
  73
  76
  80
  84
  88
  92
  96
  101
  106
  111
  117
  122
Funds from operations, $m
  51
  144
  146
  148
  150
  152
  155
  157
  160
  163
  166
  154
  157
  161
  165
  169
  173
  178
  183
  188
  193
  199
  205
  211
  218
  225
  232
  239
  247
  256
  265
Change in working capital, $m
  -62
  36
  40
  44
  48
  52
  56
  60
  64
  68
  72
  77
  81
  86
  91
  96
  102
  107
  113
  120
  126
  133
  140
  147
  155
  163
  171
  180
  190
  199
  210
Cash from operations, $m
  113
  107
  106
  104
  102
  101
  99
  98
  96
  95
  94
  77
  76
  75
  74
  73
  72
  70
  69
  68
  67
  66
  65
  64
  63
  62
  60
  59
  58
  57
  55
Maintenance CAPEX, $m
  0
  -34
  -35
  -36
  -38
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
  -64
  -66
  -70
  -73
  -76
  -80
  -84
  -88
  -92
  -96
  -101
  -106
  -111
  -117
New CAPEX, $m
  -16
  -19
  -19
  -21
  -23
  -25
  -26
  -28
  -30
  -32
  -34
  -36
  -39
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -63
  -66
  -70
  -73
  -77
  -81
  -86
  -90
  -95
  -99
Cash from investing activities, $m
  -19
  -53
  -54
  -57
  -61
  -64
  -66
  -70
  -73
  -77
  -81
  -85
  -90
  -94
  -99
  -104
  -109
  -115
  -120
  -127
  -133
  -139
  -146
  -154
  -161
  -169
  -177
  -187
  -196
  -206
  -216
Free cash flow, $m
  94
  55
  51
  47
  42
  37
  33
  28
  23
  18
  13
  -8
  -14
  -19
  -25
  -31
  -38
  -44
  -51
  -58
  -65
  -73
  -81
  -90
  -98
  -108
  -117
  -127
  -138
  -149
  -161
Issuance/(repayment) of debt, $m
  -9
  68
  77
  84
  91
  99
  106
  114
  121
  129
  138
  146
  155
  164
  174
  184
  194
  205
  216
  228
  240
  253
  267
  281
  295
  311
  327
  344
  361
  380
  400
Issuance/(repurchase) of shares, $m
  -1
  0
  0
  1
  4
  8
  12
  15
  19
  23
  27
  0
  0
  0
  2
  6
  11
  16
  22
  27
  33
  39
  45
  52
  58
  66
  73
  81
  89
  98
  107
Cash from financing (excl. dividends), $m  
  -24
  68
  77
  85
  95
  107
  118
  129
  140
  152
  165
  146
  155
  164
  176
  190
  205
  221
  238
  255
  273
  292
  312
  333
  353
  377
  400
  425
  450
  478
  507
Total cash flow (excl. dividends), $m
  71
  123
  128
  131
  137
  144
  150
  157
  163
  170
  178
  138
  141
  145
  150
  159
  168
  177
  187
  197
  208
  219
  230
  243
  255
  269
  283
  297
  312
  329
  345
Retained Cash Flow (-), $m
  -133
  -46
  -48
  -52
  -57
  -61
  -66
  -71
  -76
  -81
  -86
  -91
  -97
  -102
  -108
  -115
  -121
  -128
  -135
  -142
  -150
  -158
  -166
  -175
  -184
  -194
  -204
  -214
  -225
  -237
  -249
Prev. year cash balance distribution, $m
 
  60
  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
 
  137
  80
  79
  80
  82
  84
  86
  88
  90
  92
  47
  45
  42
  42
  44
  47
  49
  52
  55
  58
  61
  64
  68
  71
  75
  79
  83
  87
  92
  96
Discount rate, %
 
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
 
  130
  71
  65
  62
  59
  55
  51
  47
  43
  39
  17
  14
  12
  10
  9
  8
  7
  6
  5
  4
  3
  2
  2
  1
  1
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  99.6
  99.0
  98.1
  97.0
  95.7
  94.3
  92.6
  92.6
  92.6
  92.6
  92.6
  92.2
  91.7
  91.0
  90.1
  89.1
  87.9
  86.5
  85.0
  83.5
  81.8
  80.1
  78.3
  76.4
  74.5
  72.5
  70.6

Tutor Perini Corporation provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. It operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities. This segment also provides drilling, foundation, and excavation support for shoring, bridges, piers, roads, and highway projects. The Building segment offers services in various specialized building markets, including hospitality and gaming, transportation, healthcare, corporate and municipal offices, sports and entertainment, educational, correctional facilities, biotech, pharmaceutical, industrial, and high-tech. The Specialty Contractors segment provides electrical, mechanical, plumbing, fire protection systems, and pneumatically placed concrete services, as well as heating, ventilation, and air conditioning for the industrial, commercial, hospitality and gaming, and mass-transit end markets. Tutor Perini Corporation also offers general contracting, pre-construction planning, and project management services, including planning and scheduling of manpower, equipment, materials, and subcontractors; and self-performed construction services comprising site work, concrete forming and placement, steel erection, electrical, mechanical, and plumbing, as well as heating, ventilation, and air conditioning services. The company was formerly known as Perini Corporation and changed its name to Tutor Perini Corporation in 2009. Tutor Perini Corporation was founded in 1894 and is headquartered in Sylmar, California.

FINANCIAL RATIOS  of  Tutor Perini (TPC)

Valuation Ratios
P/E Ratio 12.3
Price to Sales 0.2
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 10.4
Price to Free Cash Flow 12.2
Growth Rates
Sales Growth Rate 1.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -55.6%
Cap. Spend. - 3 Yr. Gr. Rate -17.6%
Financial Strength
Quick Ratio 2
Current Ratio 0.1
LT Debt to Equity 43.4%
Total Debt to Equity 48.9%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.1%
Ret/ On Assets - 3 Yr. Avg. 2.9%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 3.8%
Return On Equity 6.5%
Return On Equity - 3 Yr. Avg. 6%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 9.2%
Gross Margin - 3 Yr. Avg. 9.2%
EBITDA Margin 5.3%
EBITDA Margin - 3 Yr. Avg. 5%
Operating Margin 4.1%
Oper. Margin - 3 Yr. Avg. 3.9%
Pre-Tax Margin 3%
Pre-Tax Margin - 3 Yr. Avg. 2.9%
Net Profit Margin 1.9%
Net Profit Margin - 3 Yr. Avg. 1.7%
Effective Tax Rate 35.6%
Eff/ Tax Rate - 3 Yr. Avg. 39%
Payout Ratio 0%

TPC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TPC stock intrinsic value calculation we used $4973 million for the last fiscal year's total revenue generated by Tutor Perini. The default revenue input number comes from 2016 income statement of Tutor Perini. 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 TPC stock valuation model: a) initial revenue growth rate of 2.9% 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 5.8%, whose default value for TPC is calculated based on our internal credit rating of Tutor Perini, 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 Tutor Perini.
    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 TPC stock the variable cost ratio is equal to 97.9%.

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 TPC 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 6% for Tutor Perini.

Corporate tax rate of 27% is the nominal tax rate for Tutor Perini. 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 TPC 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 TPC are equal to 12%.

Life of production assets of 17.4 years is the average useful life of capital assets used in Tutor Perini 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 TPC is equal to 25.3%. 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 - $1553 million for Tutor Perini - 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 48.649 million for Tutor Perini 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 Tutor Perini at the current share price and the inputted number of shares is $1.2 billion.

RELATED COMPANIES Price Int.Val. Rating
FLR Fluor 37.62 124.79  str.buy
EME EMCOR Group 62.80 121.68  str.buy
GVA Granite Constr 49.49 47.59  hold
ACM AECOM 31.25 37.82  hold
PRIM Primoris Servi 26.18 25.48  hold

COMPANY NEWS

▶ DSW: As Good a Time as Any to Head for the Exits?   [Aug-22-17 11:51AM  Barrons.com]
▶ Tutor Perini beats 2Q profit forecasts   [12:14AM  Associated Press]
▶ Tutor Perini Reports Second Quarter Results   [Aug-07-17 04:05PM  Business Wire]
▶ Tutor Perini Appoints Leonard Rejcek to Lead Building Group   [Jun-12-17 04:22PM  Business Wire]
▶ ETFs with exposure to Tutor Perini Corp. : May 23, 2017   [May-23-17 01:08PM  Capital Cube]
▶ George Washington Bridge Bus Station Set to Open   [May-12-17 12:18AM  The Wall Street Journal]
▶ ETFs with exposure to Tutor Perini Corp. : May 8, 2017   [May-08-17 05:21PM  Capital Cube]
▶ Tutor Perini misses 1Q profit forecasts   [May-03-17 07:29PM  Associated Press]
▶ Tutor Perini Reports First Quarter Results   [04:15PM  Business Wire]
▶ Tutor Perini Announces Senior Notes Offering   [07:59AM  Business Wire]
▶ [$$] Scores of Builders Raise Their Hands to Design Trump Border Wall   [Mar-30-17 12:35AM  The Wall Street Journal]
▶ [$$] Scores of Builders Raise Their Hands for Trump Border Wall   [Mar-29-17 01:08PM  at The Wall Street Journal]
▶ Tutor Perini meets 4Q profit forecasts   [Feb-23-17 05:59PM  Associated Press]
▶ WDF Awarded Three Contracts Valued at $104 Million   [Feb-02-17 06:00AM  Business Wire]
▶ Tutor Perini set to receive $1.4 billion LA County MTA contract   [Jan-17-17 05:20PM  at bizjournals.com]
▶ Tutor Perini Price Target Hiked 10%: What You Need to Know   [Dec-29-16 01:12PM  at Motley Fool]
▶ Infrastructure Stocks Overheated on Trump's Trillion-Dollar Plan   [Dec-01-16 02:52PM  at The Wall Street Journal]
▶ [$$] Numbers Don't Add Up for Trump's Trillion-Dollar Building Plan   [Nov-30-16 11:24PM  at The Wall Street Journal]
▶ [$$] In Stock-Market Rally, Small Beats Large   [12:04AM  at The Wall Street Journal]
▶ Why Tutor Perini Got Schooled Today   [Nov-16-16 09:21PM  at Motley Fool]
▶ Tutor Perini Postpones Senior Notes Offering   [05:18PM  Business Wire]
▶ Tutor Perini Reports Third Quarter Results   [08:30AM  Business Wire]
▶ Tutor Perini Announces Senior Notes Offering   [07:24AM  Business Wire]
▶ 5 Big Ideas from the Sohn Conference   [Oct-08-16 08:50AM  at Insider Monkey]
Financial statements of TPC
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.