Intrinsic value of TriMas - TRS

Previous Close

$23.95

  Intrinsic Value

$1.08

stock screener

  Rating & Target

str. sell

-96%

  Value-price divergence*

-73%

Previous close

$23.95

 
Intrinsic value

$1.08

 
Up/down potential

-96%

 
Rating

str. sell

 
Value-price divergence*

-73%

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

We calculate the intrinsic value of TRS 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 1.0

 

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, %
  -8.10
  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
  794
  810
  829
  850
  874
  900
  929
  961
  995
  1,032
  1,072
  1,114
  1,159
  1,207
  1,259
  1,313
  1,370
  1,431
  1,496
  1,564
  1,636
  1,711
  1,791
  1,876
  1,964
  2,058
  2,156
  2,260
  2,369
  2,484
  2,605
Variable operating expenses, $m
 
  369
  377
  386
  396
  407
  419
  433
  447
  462
  479
  465
  484
  504
  525
  548
  572
  597
  624
  653
  683
  714
  748
  783
  820
  859
  900
  943
  989
  1,037
  1,087
Fixed operating expenses, $m
 
  499
  512
  524
  538
  551
  565
  579
  593
  608
  623
  639
  655
  671
  688
  705
  723
  741
  760
  779
  798
  818
  838
  859
  881
  903
  925
  949
  972
  997
  1,022
Total operating expenses, $m
  838
  868
  889
  910
  934
  958
  984
  1,012
  1,040
  1,070
  1,102
  1,104
  1,139
  1,175
  1,213
  1,253
  1,295
  1,338
  1,384
  1,432
  1,481
  1,532
  1,586
  1,642
  1,701
  1,762
  1,825
  1,892
  1,961
  2,034
  2,109
Operating income, $m
  -44
  -59
  -60
  -61
  -60
  -58
  -55
  -50
  -45
  -38
  -30
  10
  21
  32
  45
  60
  76
  93
  112
  133
  155
  179
  205
  234
  264
  296
  331
  368
  408
  451
  496
EBITDA, $m
  0
  -3
  -4
  -3
  -2
  1
  5
  10
  17
  25
  34
  44
  56
  69
  84
  100
  117
  137
  158
  180
  205
  231
  260
  291
  324
  359
  397
  437
  480
  526
  576
Interest expense (income), $m
  12
  13
  13
  13
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  24
  25
  26
  28
  29
  31
  33
  34
  36
  38
  40
  43
  45
  47
  50
  53
Earnings before tax, $m
  -58
  -71
  -73
  -74
  -74
  -73
  -70
  -66
  -62
  -56
  -49
  -9
  0
  11
  23
  36
  51
  67
  84
  103
  124
  147
  171
  197
  225
  256
  288
  323
  361
  401
  443
Tax expense, $m
  -18
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  3
  6
  10
  14
  18
  23
  28
  34
  40
  46
  53
  61
  69
  78
  87
  97
  108
  120
Net income, $m
  -40
  -71
  -73
  -74
  -74
  -73
  -70
  -66
  -62
  -56
  -49
  -9
  0
  8
  17
  26
  37
  49
  61
  75
  91
  107
  125
  144
  165
  187
  211
  236
  263
  292
  324

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
  1,052
  1,052
  1,076
  1,104
  1,135
  1,169
  1,207
  1,248
  1,292
  1,340
  1,392
  1,447
  1,506
  1,568
  1,635
  1,705
  1,780
  1,859
  1,942
  2,031
  2,124
  2,223
  2,326
  2,436
  2,551
  2,673
  2,801
  2,935
  3,077
  3,226
  3,383
Adjusted assets (=assets-cash), $m
  1,031
  1,052
  1,076
  1,104
  1,135
  1,169
  1,207
  1,248
  1,292
  1,340
  1,392
  1,447
  1,506
  1,568
  1,635
  1,705
  1,780
  1,859
  1,942
  2,031
  2,124
  2,223
  2,326
  2,436
  2,551
  2,673
  2,801
  2,935
  3,077
  3,226
  3,383
Revenue / Adjusted assets
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
  0.770
Average production assets, $m
  424
  432
  442
  454
  467
  481
  496
  513
  531
  551
  572
  595
  619
  645
  672
  701
  732
  764
  799
  835
  873
  914
  957
  1,002
  1,049
  1,099
  1,152
  1,207
  1,265
  1,326
  1,391
Working capital, $m
  176
  173
  176
  181
  186
  192
  198
  205
  212
  220
  228
  237
  247
  257
  268
  280
  292
  305
  319
  333
  348
  365
  382
  400
  418
  438
  459
  481
  505
  529
  555
Total debt, $m
  375
  372
  385
  399
  415
  433
  453
  474
  498
  523
  550
  578
  609
  642
  676
  713
  752
  793
  837
  883
  932
  983
  1,037
  1,095
  1,155
  1,218
  1,285
  1,355
  1,429
  1,507
  1,589
Total liabilities, $m
  552
  549
  562
  576
  592
  610
  630
  651
  675
  700
  727
  755
  786
  819
  853
  890
  929
  970
  1,014
  1,060
  1,109
  1,160
  1,214
  1,272
  1,332
  1,395
  1,462
  1,532
  1,606
  1,684
  1,766
Total equity, $m
  500
  503
  514
  528
  542
  559
  577
  597
  618
  641
  665
  692
  720
  750
  781
  815
  851
  889
  928
  971
  1,015
  1,062
  1,112
  1,164
  1,219
  1,278
  1,339
  1,403
  1,471
  1,542
  1,617
Total liabilities and equity, $m
  1,052
  1,052
  1,076
  1,104
  1,134
  1,169
  1,207
  1,248
  1,293
  1,341
  1,392
  1,447
  1,506
  1,569
  1,634
  1,705
  1,780
  1,859
  1,942
  2,031
  2,124
  2,222
  2,326
  2,436
  2,551
  2,673
  2,801
  2,935
  3,077
  3,226
  3,383
Debt-to-equity ratio
  0.750
  0.740
  0.750
  0.760
  0.770
  0.780
  0.790
  0.800
  0.810
  0.820
  0.830
  0.840
  0.850
  0.860
  0.870
  0.870
  0.880
  0.890
  0.900
  0.910
  0.920
  0.930
  0.930
  0.940
  0.950
  0.950
  0.960
  0.970
  0.970
  0.980
  0.980
Adjusted equity ratio
  0.465
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478
  0.478

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -40
  -71
  -73
  -74
  -74
  -73
  -70
  -66
  -62
  -56
  -49
  -9
  0
  8
  17
  26
  37
  49
  61
  75
  91
  107
  125
  144
  165
  187
  211
  236
  263
  292
  324
Depreciation, amort., depletion, $m
  44
  56
  57
  57
  58
  59
  60
  61
  62
  63
  64
  34
  35
  37
  38
  40
  42
  44
  46
  48
  50
  52
  55
  57
  60
  63
  66
  69
  72
  76
  79
Funds from operations, $m
  79
  -15
  -17
  -17
  -16
  -14
  -10
  -6
  0
  7
  15
  25
  36
  45
  55
  66
  79
  92
  107
  123
  141
  159
  179
  201
  225
  250
  276
  305
  336
  368
  403
Change in working capital, $m
  -1
  3
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  10
  10
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  26
Cash from operations, $m
  80
  -19
  -21
  -21
  -21
  -19
  -16
  -12
  -7
  -1
  7
  16
  26
  35
  44
  55
  66
  79
  93
  109
  125
  143
  162
  183
  206
  230
  255
  283
  312
  344
  377
Maintenance CAPEX, $m
  0
  -24
  -25
  -25
  -26
  -27
  -27
  -28
  -29
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -69
  -72
  -76
New CAPEX, $m
  -31
  -8
  -10
  -11
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -23
  -24
  -26
  -27
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -43
  -45
  -47
  -50
  -53
  -55
  -58
  -61
  -64
Cash from investing activities, $m
  -31
  -32
  -35
  -36
  -39
  -41
  -43
  -45
  -47
  -50
  -52
  -56
  -58
  -61
  -64
  -67
  -71
  -75
  -78
  -82
  -86
  -90
  -95
  -100
  -104
  -110
  -116
  -121
  -127
  -133
  -140
Free cash flow, $m
  49
  -51
  -55
  -58
  -60
  -60
  -59
  -58
  -55
  -51
  -46
  -39
  -32
  -27
  -20
  -13
  -4
  5
  15
  27
  39
  53
  68
  84
  101
  120
  140
  162
  185
  210
  237
Issuance/(repayment) of debt, $m
  -45
  11
  13
  14
  16
  18
  20
  21
  23
  25
  27
  29
  31
  33
  35
  37
  39
  41
  44
  46
  49
  51
  54
  57
  60
  63
  67
  70
  74
  78
  82
Issuance/(repurchase) of shares, $m
  0
  81
  85
  87
  89
  89
  88
  86
  83
  79
  73
  35
  28
  22
  15
  7
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -48
  92
  98
  101
  105
  107
  108
  107
  106
  104
  100
  64
  59
  55
  50
  44
  39
  41
  44
  46
  49
  51
  54
  57
  60
  63
  67
  70
  74
  78
  82
Total cash flow (excl. dividends), $m
  1
  41
  42
  44
  45
  47
  48
  50
  51
  53
  55
  25
  26
  28
  30
  32
  35
  46
  59
  73
  88
  104
  122
  141
  161
  183
  207
  232
  259
  288
  319
Retained Cash Flow (-), $m
  47
  -81
  -85
  -87
  -89
  -89
  -88
  -86
  -83
  -79
  -73
  -35
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -50
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
Prev. year cash balance distribution, $m
 
  7
  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
 
  -33
  -43
  -44
  -43
  -42
  -40
  -36
  -31
  -26
  -19
  -11
  -2
  -2
  -2
  -2
  -1
  8
  19
  31
  43
  57
  72
  88
  106
  125
  146
  168
  191
  217
  244
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  -31
  -37
  -35
  -32
  -28
  -24
  -19
  -15
  -11
  -7
  -3
  0
  0
  0
  0
  0
  1
  1
  2
  2
  2
  1
  1
  1
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  92.6
  85.6
  79.0
  73.1
  67.7
  62.9
  58.6
  54.9
  51.7
  49.0
  47.7
  46.8
  46.1
  45.7
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5
  45.5

TriMas Corporation designs, manufactures, and distributes engineered and applied products for commercial, industrial, and consumer markets worldwide. It operates through four segments: Packaging, Aerospace, Energy, and Engineered Components. The Packaging segment offers steel and plastic closure caps, drum enclosures, and specialty plastic closures, as well as dispensing systems, such as foamers, pumps, and specialty sprayers under the Rieke, Arminak & Associates, Englass, Innovative Molding, and Stolz brands to store, transport, process, and dispense various products for industrial, food and beverage, health, beauty, and home markets. The Aerospace segment provides blind bolts, fasteners, solid and blind rivets, and installation tools, as well as precision machined and complex parts for use in commercial, business, and military aerospace industries. This segment offers its products under the Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners, and Martinic Engineering brands. The Energy segment provides metallic and non-metallic gaskets, bolts, industrial fasteners, and specialty products for petroleum refining, petrochemical, oil field, and industrial markets under the Lamons and Basrur brands. The Engineered Components segment offers natural gas powered engines and parts, gas compressors, gas production equipment, meter runs, engine electronics, and chemical pumps under the Caterpillar, Waukesha, Ajax, and Gemini brands for use in oil and natural gas production, as well as Norris Cylinder, a range of cylinders for use in the transportation, storage, and dispensing of compressed gases. The company sells its products through direct sales force, third-party agents, distributors, and licensees. TriMas Corporation is headquartered in Bloomfield Hills, Michigan.

FINANCIAL RATIOS  of  TriMas (TRS)

Valuation Ratios
P/E Ratio -27.3
Price to Sales 1.4
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 13.6
Price to Free Cash Flow 22.2
Growth Rates
Sales Growth Rate -8.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.9%
Cap. Spend. - 3 Yr. Gr. Rate -4.5%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 72.2%
Total Debt to Equity 75%
Interest Coverage -4
Management Effectiveness
Return On Assets -2.9%
Ret/ On Assets - 3 Yr. Avg. 0.5%
Return On Total Capital -4.3%
Ret/ On T. Cap. - 3 Yr. Avg. -0.3%
Return On Equity -7.6%
Return On Equity - 3 Yr. Avg. -0.5%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 26.4%
Gross Margin - 3 Yr. Avg. 26.8%
EBITDA Margin -0.3%
EBITDA Margin - 3 Yr. Avg. 5.8%
Operating Margin -5.5%
Oper. Margin - 3 Yr. Avg. 1%
Pre-Tax Margin -7.3%
Pre-Tax Margin - 3 Yr. Avg. -0.7%
Net Profit Margin -5%
Net Profit Margin - 3 Yr. Avg. -0.4%
Effective Tax Rate 31%
Eff/ Tax Rate - 3 Yr. Avg. 10.7%
Payout Ratio 0%

TRS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TRS stock intrinsic value calculation we used $794 million for the last fiscal year's total revenue generated by TriMas. The default revenue input number comes from 2016 income statement of TriMas. 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 TRS 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 7%, whose default value for TRS is calculated based on our internal credit rating of TriMas, 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 TriMas.
    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 TRS stock the variable cost ratio is equal to 45.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $487 million in the base year in the intrinsic value calculation for TRS 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 TriMas.

Corporate tax rate of 27% is the nominal tax rate for TriMas. 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 TRS 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 TRS are equal to 53.4%.

Life of production assets of 17.5 years is the average useful life of capital assets used in TriMas 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 TRS is equal to 21.3%. 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 - $500 million for TriMas - 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 42.968 million for TriMas 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 TriMas at the current share price and the inputted number of shares is $1.0 billion.

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COMPANY NEWS

▶ TriMas beats Street 2Q forecasts   [Jul-27-17 04:13PM  Associated Press]
▶ TriMas Reports Second Quarter 2017 Results   [08:00AM  GlobeNewswire]
▶ ETFs with exposure to TriMas Corp. : July 25, 2017   [Jul-25-17 01:44PM  Capital Cube]
▶ TriMas Corp. Value Analysis (NASDAQ:TRS) : July 14, 2017   [Jul-14-17 06:27PM  Capital Cube]
▶ ETFs with exposure to TriMas Corp. : July 12, 2017   [Jul-12-17 03:02PM  Capital Cube]
▶ ETFs with exposure to TriMas Corp. : June 15, 2017   [Jun-15-17 03:33PM  Capital Cube]
▶ ETFs with exposure to TriMas Corp. : May 1, 2017   [May-01-17 04:31PM  Capital Cube]
▶ TriMas Corp. Value Analysis (NASDAQ:TRS) : April 27, 2017   [Apr-27-17 05:18PM  Capital Cube]
▶ TriMas beats 1Q profit forecasts   [08:22AM  Associated Press]
▶ TriMas to Present at Annual ROTH Conference   [Mar-08-17 10:00AM  GlobeNewswire]
▶ TriMas reports 4Q loss   [08:39AM  Associated Press]
▶ TriMas Corp (TRS): Are Hedge Funds Right About This Stock?   [Dec-09-16 11:30AM  at Insider Monkey]
▶ TriMas Appoints New President Of Its Aerospace Group   [Dec-06-16 08:00AM  GlobeNewswire]
▶ TriMas Reports Third Quarter 2016 Results   [08:00AM  GlobeNewswire]
▶ TriMas Announces Plans For Further Facility Consolidation   [Sep-28-16 10:00AM  GlobeNewswire]
Stock chart of TRS Financial statements of TRS
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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