Intrinsic value of TripAdvisor - TRIP

Previous Close

$43.32

  Intrinsic Value

$30.19

stock screener

  Rating & Target

sell

-30%

Previous close

$43.32

 
Intrinsic value

$30.19

 
Up/down potential

-30%

 
Rating

sell

We calculate the intrinsic value of TRIP 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  -0.80
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  1,480
  1,544
  1,611
  1,683
  1,758
  1,838
  1,922
  2,011
  2,105
  2,204
  2,308
  2,418
  2,533
  2,655
  2,783
  2,918
  3,060
  3,209
  3,365
  3,530
  3,703
  3,885
  4,076
  4,277
  4,489
  4,711
  4,944
  5,189
  5,446
  5,716
  6,000
Variable operating expenses, $m
 
  1,280
  1,332
  1,388
  1,447
  1,509
  1,575
  1,645
  1,718
  1,795
  1,877
  1,889
  1,979
  2,074
  2,174
  2,280
  2,390
  2,507
  2,629
  2,758
  2,893
  3,035
  3,185
  3,342
  3,507
  3,680
  3,862
  4,054
  4,255
  4,466
  4,688
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
  1,314
  1,280
  1,332
  1,388
  1,447
  1,509
  1,575
  1,645
  1,718
  1,795
  1,877
  1,889
  1,979
  2,074
  2,174
  2,280
  2,390
  2,507
  2,629
  2,758
  2,893
  3,035
  3,185
  3,342
  3,507
  3,680
  3,862
  4,054
  4,255
  4,466
  4,688
Operating income, $m
  166
  264
  279
  294
  311
  328
  347
  366
  387
  408
  431
  529
  554
  581
  609
  638
  669
  702
  736
  772
  810
  850
  892
  936
  982
  1,030
  1,081
  1,135
  1,191
  1,250
  1,312
EBITDA, $m
  267
  367
  383
  400
  418
  437
  457
  478
  501
  524
  549
  575
  603
  631
  662
  694
  728
  763
  800
  840
  881
  924
  970
  1,017
  1,068
  1,120
  1,176
  1,234
  1,295
  1,360
  1,427
Interest expense (income), $m
  10
  5
  6
  8
  10
  12
  13
  16
  18
  20
  22
  25
  27
  30
  33
  36
  39
  43
  46
  50
  54
  58
  63
  67
  72
  77
  82
  88
  94
  100
  106
Earnings before tax, $m
  151
  259
  272
  286
  301
  317
  333
  351
  369
  389
  409
  504
  527
  551
  576
  602
  630
  659
  690
  722
  756
  792
  829
  868
  910
  953
  999
  1,047
  1,097
  1,150
  1,206
Tax expense, $m
  31
  70
  74
  77
  81
  86
  90
  95
  100
  105
  110
  136
  142
  149
  155
  163
  170
  178
  186
  195
  204
  214
  224
  234
  246
  257
  270
  283
  296
  311
  326
Net income, $m
  120
  189
  199
  209
  220
  231
  243
  256
  269
  284
  299
  368
  385
  402
  420
  440
  460
  481
  504
  527
  552
  578
  605
  634
  664
  696
  729
  764
  801
  840
  880

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  730
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,238
  1,574
  1,642
  1,715
  1,792
  1,873
  1,959
  2,050
  2,146
  2,247
  2,353
  2,465
  2,583
  2,707
  2,837
  2,974
  3,119
  3,271
  3,430
  3,598
  3,775
  3,960
  4,155
  4,360
  4,576
  4,802
  5,039
  5,289
  5,551
  5,827
  6,116
Adjusted assets (=assets-cash), $m
  1,508
  1,574
  1,642
  1,715
  1,792
  1,873
  1,959
  2,050
  2,146
  2,247
  2,353
  2,465
  2,583
  2,707
  2,837
  2,974
  3,119
  3,271
  3,430
  3,598
  3,775
  3,960
  4,155
  4,360
  4,576
  4,802
  5,039
  5,289
  5,551
  5,827
  6,116
Revenue / Adjusted assets
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
  0.981
Average production assets, $m
  285
  298
  311
  325
  339
  355
  371
  388
  406
  425
  445
  467
  489
  512
  537
  563
  590
  619
  649
  681
  715
  750
  787
  826
  866
  909
  954
  1,001
  1,051
  1,103
  1,158
Working capital, $m
  527
  -128
  -134
  -140
  -146
  -153
  -160
  -167
  -175
  -183
  -192
  -201
  -210
  -220
  -231
  -242
  -254
  -266
  -279
  -293
  -307
  -322
  -338
  -355
  -373
  -391
  -410
  -431
  -452
  -474
  -498
Total debt, $m
  171
  119
  149
  181
  215
  250
  287
  327
  368
  412
  458
  507
  558
  612
  669
  729
  792
  858
  927
  1,000
  1,077
  1,158
  1,243
  1,332
  1,425
  1,524
  1,627
  1,736
  1,850
  1,970
  2,096
Total liabilities, $m
  736
  684
  714
  746
  780
  815
  852
  892
  933
  977
  1,023
  1,072
  1,123
  1,177
  1,234
  1,294
  1,357
  1,423
  1,492
  1,565
  1,642
  1,723
  1,808
  1,897
  1,990
  2,089
  2,192
  2,301
  2,415
  2,535
  2,661
Total equity, $m
  1,502
  889
  928
  969
  1,013
  1,059
  1,107
  1,158
  1,212
  1,269
  1,329
  1,393
  1,459
  1,529
  1,603
  1,681
  1,762
  1,848
  1,938
  2,033
  2,133
  2,238
  2,348
  2,464
  2,585
  2,713
  2,847
  2,988
  3,137
  3,292
  3,456
Total liabilities and equity, $m
  2,238
  1,573
  1,642
  1,715
  1,793
  1,874
  1,959
  2,050
  2,145
  2,246
  2,352
  2,465
  2,582
  2,706
  2,837
  2,975
  3,119
  3,271
  3,430
  3,598
  3,775
  3,961
  4,156
  4,361
  4,575
  4,802
  5,039
  5,289
  5,552
  5,827
  6,117
Debt-to-equity ratio
  0.114
  0.130
  0.160
  0.190
  0.210
  0.240
  0.260
  0.280
  0.300
  0.320
  0.340
  0.360
  0.380
  0.400
  0.420
  0.430
  0.450
  0.460
  0.480
  0.490
  0.500
  0.520
  0.530
  0.540
  0.550
  0.560
  0.570
  0.580
  0.590
  0.600
  0.610
Adjusted equity ratio
  0.512
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565
  0.565

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  120
  189
  199
  209
  220
  231
  243
  256
  269
  284
  299
  368
  385
  402
  420
  440
  460
  481
  504
  527
  552
  578
  605
  634
  664
  696
  729
  764
  801
  840
  880
Depreciation, amort., depletion, $m
  101
  103
  104
  106
  107
  109
  110
  112
  114
  116
  118
  46
  48
  51
  53
  56
  58
  61
  64
  67
  71
  74
  78
  82
  86
  90
  94
  99
  104
  109
  115
Funds from operations, $m
  346
  292
  303
  315
  327
  340
  354
  368
  383
  399
  416
  414
  433
  453
  473
  495
  518
  542
  568
  595
  623
  652
  683
  716
  750
  786
  824
  863
  905
  949
  995
Change in working capital, $m
  25
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -24
Cash from operations, $m
  321
  298
  309
  321
  333
  347
  361
  375
  391
  408
  425
  423
  443
  463
  484
  506
  530
  555
  581
  608
  637
  667
  699
  732
  768
  804
  843
  884
  927
  971
  1,019
Maintenance CAPEX, $m
  0
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -58
  -61
  -64
  -67
  -71
  -74
  -78
  -82
  -86
  -90
  -94
  -99
  -104
  -109
New CAPEX, $m
  -72
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -55
Cash from investing activities, $m
  -163
  -41
  -42
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -68
  -71
  -76
  -79
  -83
  -87
  -91
  -96
  -100
  -106
  -111
  -117
  -123
  -129
  -135
  -141
  -149
  -156
  -164
Free cash flow, $m
  158
  256
  266
  276
  287
  298
  309
  322
  335
  348
  363
  358
  374
  391
  409
  427
  447
  468
  489
  512
  536
  561
  588
  616
  645
  676
  708
  742
  778
  815
  855
Issuance/(repayment) of debt, $m
  -30
  28
  30
  32
  33
  35
  37
  39
  42
  44
  46
  49
  51
  54
  57
  60
  63
  66
  69
  73
  77
  81
  85
  89
  94
  98
  103
  109
  114
  120
  126
Issuance/(repurchase) of shares, $m
  -98
  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  
  -143
  28
  30
  32
  33
  35
  37
  39
  42
  44
  46
  49
  51
  54
  57
  60
  63
  66
  69
  73
  77
  81
  85
  89
  94
  98
  103
  109
  114
  120
  126
Total cash flow (excl. dividends), $m
  -2
  285
  296
  308
  320
  333
  347
  361
  376
  392
  409
  407
  425
  445
  465
  487
  510
  534
  559
  585
  613
  642
  673
  705
  739
  774
  812
  851
  892
  935
  981
Retained Cash Flow (-), $m
  -90
  -37
  -39
  -41
  -44
  -46
  -49
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -90
  -95
  -100
  -105
  -110
  -116
  -122
  -128
  -134
  -141
  -148
  -156
  -164
Prev. year cash balance distribution, $m
 
  650
  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
 
  898
  257
  267
  277
  287
  298
  310
  322
  335
  349
  343
  359
  375
  392
  409
  428
  448
  469
  490
  513
  537
  563
  589
  617
  646
  677
  710
  744
  779
  817
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  861
  236
  232
  228
  222
  216
  209
  201
  193
  183
  163
  153
  142
  131
  120
  109
  97
  86
  75
  65
  56
  47
  39
  31
  25
  20
  15
  12
  9
  6
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

TripAdvisor, Inc. owns and operates a portfolio of online travel brands. TripAdvisor, the Company's brand, is a travel site. The Company operates through two segments: Hotel and Non-Hotel. The Company's Hotel segment includes click-based advertising and transaction; display-based and subscription-based advertising, and other hotel operations. The Non-Hotel segment includes Attractions, Restaurants and Vacation Rentals businesses. The Company's platform also enables users to compare real-time pricing and availability for these experiences, as well as to book hotels, flights, cruises, vacation rentals, tours, activities and attractions, and restaurants, on either a TripAdvisor site or application, or a travel partner site or application. As of December 31, 2016, the Company's TripAdvisor-branded Websites included tripadvisor.com in the United States and localized versions of the TripAdvisor Website in 48 markets and 28 languages around the world.

FINANCIAL RATIOS  of  TripAdvisor (TRIP)

Valuation Ratios
P/E Ratio 52
Price to Sales 4.2
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 19.4
Price to Free Cash Flow 25.1
Growth Rates
Sales Growth Rate -0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.9%
Cap. Spend. - 3 Yr. Gr. Rate 5.5%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 6.1%
Total Debt to Equity 11.4%
Interest Coverage 16
Management Effectiveness
Return On Assets 5.9%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 7.3%
Ret/ On T. Cap. - 3 Yr. Avg. 12.3%
Return On Equity 8.2%
Return On Equity - 3 Yr. Avg. 15.5%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 95.2%
Gross Margin - 3 Yr. Avg. 96%
EBITDA Margin 17.7%
EBITDA Margin - 3 Yr. Avg. 24%
Operating Margin 11.2%
Oper. Margin - 3 Yr. Avg. 18.5%
Pre-Tax Margin 10.2%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 8.1%
Net Profit Margin - 3 Yr. Avg. 13.2%
Effective Tax Rate 20.5%
Eff/ Tax Rate - 3 Yr. Avg. 22.5%
Payout Ratio 0%

TRIP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TRIP stock intrinsic value calculation we used $1480 million for the last fiscal year's total revenue generated by TripAdvisor. The default revenue input number comes from 2016 income statement of TripAdvisor. 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 TRIP stock valuation model: a) initial revenue growth rate of 4.3% 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 4.3%, whose default value for TRIP is calculated based on our internal credit rating of TripAdvisor, 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 TripAdvisor.
    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 TRIP stock the variable cost ratio is equal to 83.1%.

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 TRIP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for TripAdvisor.

Corporate tax rate of 27% is the nominal tax rate for TripAdvisor. 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 TRIP 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 TRIP are equal to 19.3%.

Life of production assets of 10.1 years is the average useful life of capital assets used in TripAdvisor 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 TRIP is equal to -8.3%. 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 - $1502 million for TripAdvisor - 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 139.002 million for TripAdvisor 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 TripAdvisor at the current share price and the inputted number of shares is $6.0 billion.

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COMPANY NEWS

▶ Shopify Stock Briefly Tumbled on 71% Revenue Growth   [Feb-19-18 12:08PM  Motley Fool]
▶ TripAdvisor Sacrifices Growth for Profitability   [Feb-16-18 05:49PM  Motley Fool]
▶ Shopify Inc Investors Should Shop Elsewhere   [12:52PM  InvestorPlace]
▶ What Happened in the Stock Market Today   [Feb-15-18 05:11PM  Motley Fool]
▶ TripAdvisor Shares Jump On Earnings Report That Eased Concerns   [04:25PM  Investor's Business Daily]
▶ Wall Street Is in the Green   [03:40PM  GuruFocus.com]
▶ Why TripAdvisor Inc Stock Popped Today   [03:00PM  Motley Fool]
▶ TripAdvisor, Inc. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ Tripadvisor Inc (TRIP) Q4 Earnings Miss Expectations   [Feb-14-18 06:12PM  InvestorPlace]
▶ Revenue Gains Send TripAdvisor Skyward   [05:46PM  Motley Fool]
▶ TripAdvisor reports 4Q loss   [04:27PM  Associated Press]
▶ TripAdvisor Q4 Earnings Preview   [09:19AM  Benzinga]
▶ TripAdvisor Earnings: What to Watch   [12:00PM  Motley Fool]
▶ 3 Things to Watch in the Stock Market This Week   [Feb-11-18 11:26AM  Motley Fool]
▶ The Dow Rides a Roller Coaster to a 560 Point Gain   [Feb-06-18 05:59PM  Barrons.com]
▶ Why TripAdvisor Inc. Stock Popped Today   [02:12PM  Motley Fool]
▶ TripAdvisor adds Netflix board member amid reorganization, stock slide   [03:25PM  American City Business Journals]
▶ TripAdvisor adds Netflix board member amid reorganization, stock slide   [03:00PM  American City Business Journals]
▶ 10 Super Bowl Stocks to Buy and Sell   [Jan-22-18 02:45PM  InvestorPlace]
▶ 3 Stocks That Look Just Like eBay in 1998   [09:42AM  Motley Fool]
▶ Buy These 3 Stocks After Today's Gains   [Jan-15-18 06:36PM  Zacks]
▶ 10 Stocks That Every 20-Year-Old Should Buy   [06:02AM  InvestorPlace]
▶ What Investors Want to See From TripAdvisor in 2018   [Jan-12-18 02:00PM  Motley Fool]
▶ TripAdvisor Shares Could Double in Four Years   [Jan-11-18 10:30AM  Barrons.com]
▶ Why TripAdvisor Inc. Stock Gave Up 26% Last Year   [Jan-08-18 05:11PM  Motley Fool]
▶ Why the Bulls Are Wrong About TripAdvisor Inc Stock   [Dec-29-17 09:14PM  Motley Fool]
▶ Keep Your Eye on Twitter This Year   [08:19PM  Motley Fool]
▶ Fitbit Updates Ionic Smartwatch With More Apps   [Dec-05-17 09:00AM  Fortune]
▶ Don't Get Greedy With TripAdvisor Stock   [Dec-04-17 07:37PM  Motley Fool]
▶ Commission alerted to review allegations against TripAdvisor   [Nov-22-17 08:25PM  Associated Press]
Financial statements of TRIP
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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