Intrinsic value of 2U - TWOU

Previous Close

$47.94

  Intrinsic Value

$22.60

stock screener

  Rating & Target

str. sell

-53%

  Value-price divergence*

+776%

Previous close

$47.94

 
Intrinsic value

$22.60

 
Up/down potential

-53%

 
Rating

str. sell

 
Value-price divergence*

+776%

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

We calculate the intrinsic value of TWOU 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 2.3

 

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, %
  37.33
  38.30
  34.97
  31.97
  29.28
  26.85
  24.66
  22.70
  20.93
  19.33
  17.90
  16.61
  15.45
  14.40
  13.46
  12.62
  11.86
  11.17
  10.55
  10.00
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
Revenue, $m
  206
  285
  385
  507
  656
  832
  1,037
  1,273
  1,539
  1,837
  2,166
  2,525
  2,916
  3,336
  3,785
  4,262
  4,768
  5,300
  5,860
  6,445
  7,058
  7,696
  8,361
  9,054
  9,774
  10,522
  11,299
  12,108
  12,947
  13,820
  14,728
Variable operating expenses, $m
 
  260
  351
  463
  599
  760
  947
  1,162
  1,405
  1,677
  1,977
  2,306
  2,662
  3,045
  3,455
  3,891
  4,353
  4,839
  5,350
  5,885
  6,444
  7,027
  7,634
  8,266
  8,923
  9,606
  10,316
  11,054
  11,821
  12,618
  13,447
Fixed operating expenses, $m
 
  41
  42
  43
  44
  45
  46
  48
  49
  50
  51
  52
  54
  55
  57
  58
  59
  61
  62
  64
  66
  67
  69
  71
  72
  74
  76
  78
  80
  82
  84
Total operating expenses, $m
  227
  301
  393
  506
  643
  805
  993
  1,210
  1,454
  1,727
  2,028
  2,358
  2,716
  3,100
  3,512
  3,949
  4,412
  4,900
  5,412
  5,949
  6,510
  7,094
  7,703
  8,337
  8,995
  9,680
  10,392
  11,132
  11,901
  12,700
  13,531
Operating income, $m
  -21
  -16
  -9
  1
  13
  27
  44
  63
  85
  110
  137
  167
  200
  235
  273
  313
  355
  400
  447
  497
  548
  602
  659
  717
  778
  841
  907
  975
  1,047
  1,121
  1,197
EBITDA, $m
  -11
  -11
  -2
  10
  25
  42
  63
  86
  113
  143
  177
  213
  253
  296
  342
  390
  442
  497
  554
  614
  677
  742
  811
  882
  956
  1,033
  1,113
  1,196
  1,282
  1,372
  1,465
Interest expense (income), $m
  0
  0
  1
  1
  3
  4
  5
  7
  9
  11
  14
  16
  19
  23
  26
  30
  34
  38
  42
  47
  52
  57
  62
  68
  74
  80
  86
  92
  99
  106
  113
Earnings before tax, $m
  -21
  -16
  -9
  0
  10
  23
  39
  56
  76
  99
  124
  151
  181
  213
  247
  283
  322
  362
  405
  450
  497
  545
  596
  649
  704
  762
  821
  883
  948
  1,015
  1,084
Tax expense, $m
  0
  0
  0
  0
  3
  6
  10
  15
  21
  27
  33
  41
  49
  57
  67
  76
  87
  98
  109
  121
  134
  147
  161
  175
  190
  206
  222
  238
  256
  274
  293
Net income, $m
  -21
  -16
  -9
  0
  8
  17
  28
  41
  56
  72
  90
  110
  132
  155
  180
  207
  235
  264
  296
  328
  362
  398
  435
  474
  514
  556
  599
  645
  692
  741
  791

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  169
  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
  244
  104
  140
  185
  239
  303
  378
  463
  560
  669
  788
  919
  1,061
  1,214
  1,378
  1,552
  1,736
  1,929
  2,133
  2,346
  2,569
  2,802
  3,044
  3,296
  3,558
  3,830
  4,113
  4,408
  4,713
  5,031
  5,362
Adjusted assets (=assets-cash), $m
  75
  104
  140
  185
  239
  303
  378
  463
  560
  669
  788
  919
  1,061
  1,214
  1,378
  1,552
  1,736
  1,929
  2,133
  2,346
  2,569
  2,802
  3,044
  3,296
  3,558
  3,830
  4,113
  4,408
  4,713
  5,031
  5,362
Revenue / Adjusted assets
  2.747
  2.740
  2.750
  2.741
  2.745
  2.746
  2.743
  2.749
  2.748
  2.746
  2.749
  2.748
  2.748
  2.748
  2.747
  2.746
  2.747
  2.748
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
  2.747
Average production assets, $m
  38
  52
  70
  92
  119
  151
  189
  232
  280
  334
  394
  460
  531
  607
  689
  776
  868
  965
  1,066
  1,173
  1,284
  1,401
  1,522
  1,648
  1,779
  1,915
  2,056
  2,204
  2,356
  2,515
  2,681
Working capital, $m
  144
  -28
  -38
  -51
  -66
  -83
  -104
  -127
  -154
  -184
  -217
  -253
  -292
  -334
  -378
  -426
  -477
  -530
  -586
  -645
  -706
  -770
  -836
  -905
  -977
  -1,052
  -1,130
  -1,211
  -1,295
  -1,382
  -1,473
Total debt, $m
  0
  19
  42
  72
  107
  149
  198
  254
  317
  388
  466
  551
  644
  744
  851
  964
  1,084
  1,211
  1,344
  1,483
  1,629
  1,780
  1,939
  2,103
  2,274
  2,452
  2,637
  2,829
  3,029
  3,236
  3,452
Total liabilities, $m
  49
  68
  91
  121
  156
  198
  247
  303
  366
  437
  515
  600
  693
  793
  900
  1,013
  1,133
  1,260
  1,393
  1,532
  1,678
  1,829
  1,988
  2,152
  2,323
  2,501
  2,686
  2,878
  3,078
  3,285
  3,501
Total equity, $m
  195
  36
  49
  64
  83
  105
  131
  161
  194
  232
  274
  319
  368
  421
  478
  538
  602
  670
  740
  814
  892
  972
  1,056
  1,144
  1,235
  1,329
  1,427
  1,529
  1,636
  1,746
  1,860
Total liabilities and equity, $m
  244
  104
  140
  185
  239
  303
  378
  464
  560
  669
  789
  919
  1,061
  1,214
  1,378
  1,551
  1,735
  1,930
  2,133
  2,346
  2,570
  2,801
  3,044
  3,296
  3,558
  3,830
  4,113
  4,407
  4,714
  5,031
  5,361
Debt-to-equity ratio
  0.000
  0.520
  0.870
  1.120
  1.290
  1.420
  1.510
  1.580
  1.630
  1.670
  1.700
  1.730
  1.750
  1.770
  1.780
  1.790
  1.800
  1.810
  1.820
  1.820
  1.830
  1.830
  1.840
  1.840
  1.840
  1.840
  1.850
  1.850
  1.850
  1.850
  1.860
Adjusted equity ratio
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -21
  -16
  -9
  0
  8
  17
  28
  41
  56
  72
  90
  110
  132
  155
  180
  207
  235
  264
  296
  328
  362
  398
  435
  474
  514
  556
  599
  645
  692
  741
  791
Depreciation, amort., depletion, $m
  10
  5
  7
  9
  12
  15
  19
  23
  28
  33
  39
  46
  53
  61
  69
  78
  87
  96
  107
  117
  128
  140
  152
  165
  178
  191
  206
  220
  236
  252
  268
Funds from operations, $m
  5
  -11
  -2
  9
  20
  32
  47
  64
  84
  106
  130
  156
  185
  216
  249
  284
  322
  361
  402
  446
  491
  538
  587
  639
  692
  747
  805
  865
  927
  992
  1,060
Change in working capital, $m
  0
  -8
  -10
  -12
  -15
  -18
  -21
  -24
  -27
  -30
  -33
  -36
  -39
  -42
  -45
  -48
  -51
  -53
  -56
  -59
  -61
  -64
  -67
  -69
  -72
  -75
  -78
  -81
  -84
  -87
  -91
Cash from operations, $m
  5
  -3
  8
  21
  34
  50
  68
  88
  110
  135
  163
  192
  224
  258
  294
  332
  372
  414
  458
  504
  552
  602
  654
  708
  764
  822
  883
  946
  1,011
  1,079
  1,150
Maintenance CAPEX, $m
  0
  -4
  -5
  -7
  -9
  -12
  -15
  -19
  -23
  -28
  -33
  -39
  -46
  -53
  -61
  -69
  -78
  -87
  -96
  -107
  -117
  -128
  -140
  -152
  -165
  -178
  -191
  -206
  -220
  -236
  -252
New CAPEX, $m
  -24
  -14
  -18
  -22
  -27
  -32
  -37
  -43
  -48
  -54
  -60
  -65
  -71
  -76
  -82
  -87
  -92
  -97
  -102
  -107
  -111
  -116
  -121
  -126
  -131
  -136
  -142
  -147
  -153
  -159
  -165
Cash from investing activities, $m
  -25
  -18
  -23
  -29
  -36
  -44
  -52
  -62
  -71
  -82
  -93
  -104
  -117
  -129
  -143
  -156
  -170
  -184
  -198
  -214
  -228
  -244
  -261
  -278
  -296
  -314
  -333
  -353
  -373
  -395
  -417
Free cash flow, $m
  -20
  -21
  -16
  -8
  -2
  6
  15
  26
  39
  53
  69
  87
  107
  128
  151
  176
  203
  230
  260
  291
  323
  357
  393
  430
  468
  508
  550
  593
  638
  685
  734
Issuance/(repayment) of debt, $m
  0
  19
  24
  29
  35
  42
  49
  56
  63
  71
  78
  86
  93
  100
  107
  114
  120
  127
  133
  139
  146
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
Issuance/(repurchase) of shares, $m
  5
  26
  22
  16
  11
  5
  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  
  4
  45
  46
  45
  46
  47
  49
  56
  63
  71
  78
  86
  93
  100
  107
  114
  120
  127
  133
  139
  146
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
Total cash flow (excl. dividends), $m
  -15
  24
  30
  37
  45
  53
  64
  82
  102
  124
  147
  173
  200
  228
  258
  290
  323
  357
  393
  430
  469
  509
  551
  594
  639
  686
  735
  785
  838
  892
  949
Retained Cash Flow (-), $m
  1
  -26
  -22
  -16
  -19
  -22
  -26
  -30
  -34
  -38
  -42
  -45
  -49
  -53
  -57
  -60
  -64
  -67
  -71
  -74
  -77
  -81
  -84
  -87
  -91
  -95
  -98
  -102
  -106
  -110
  -115
Prev. year cash balance distribution, $m
 
  169
  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
 
  166
  8
  21
  26
  31
  38
  52
  68
  86
  106
  127
  150
  175
  201
  229
  259
  290
  322
  356
  392
  429
  467
  507
  548
  592
  636
  683
  732
  782
  835
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
 
  160
  7
  18
  21
  24
  28
  35
  43
  50
  56
  60
  64
  67
  68
  67
  66
  63
  59
  55
  50
  44
  39
  33
  28
  23
  19
  15
  11
  9
  6
Current shareholders' claim on cash, %
  100
  90.8
  85.7
  82.9
  81.5
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0
  81.0

2U, Inc. provides cloud-based software-as-a-service (SaaS) solutions for nonprofit colleges and universities to deliver education to students. Its cloud-based SaaS platform solutions include online campus, an online learning platform that enables its clients to offer educational content together with instructor-led classes in a live, intimate, and engaging setting through proprietary Web-based and mobile applications. The company’s integrated back-end applications launch, operate, and support clients' programs, as well as provide clients with real-time data and analytical insight related to student performance and engagement, student satisfaction, and enrollment. It also offers a suite of technology-enabled services, including content development and student acquisition, admissions application advisory, student and faculty support, student field placement, accessibility, immersion support, faculty recruitment, and state authorization services. The company was formerly known as 2Tor Inc. and changed its name to 2U, Inc. in October 2012. 2U, Inc. was founded in 2008 and is headquartered in Lanham, Maryland.

FINANCIAL RATIOS  of  2U (TWOU)

Valuation Ratios
P/E Ratio -107.6
Price to Sales 11
Price to Book 11.6
Price to Tangible Book
Price to Cash Flow 452.1
Price to Free Cash Flow -119
Growth Rates
Sales Growth Rate 37.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 71.4%
Cap. Spend. - 3 Yr. Gr. Rate 24.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -8.8%
Ret/ On Assets - 3 Yr. Avg. -21.8%
Return On Total Capital -10.7%
Ret/ On T. Cap. - 3 Yr. Avg. -30.5%
Return On Equity -10.7%
Return On Equity - 3 Yr. Avg. -30.5%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 64.1%
Gross Margin - 3 Yr. Avg. 60.1%
EBITDA Margin -5.3%
EBITDA Margin - 3 Yr. Avg. -13.2%
Operating Margin -10.2%
Oper. Margin - 3 Yr. Avg. -17.7%
Pre-Tax Margin -10.2%
Pre-Tax Margin - 3 Yr. Avg. -18.2%
Net Profit Margin -10.2%
Net Profit Margin - 3 Yr. Avg. -18.2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

TWOU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TWOU stock intrinsic value calculation we used $206 million for the last fiscal year's total revenue generated by 2U. The default revenue input number comes from 2016 income statement of 2U. 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 TWOU stock valuation model: a) initial revenue growth rate of 38.3% 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 TWOU is calculated based on our internal credit rating of 2U, 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 2U.
    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 TWOU stock the variable cost ratio is equal to 91.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $40 million in the base year in the intrinsic value calculation for TWOU 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 2U.

Corporate tax rate of 27% is the nominal tax rate for 2U. 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 TWOU 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 TWOU are equal to 18.2%.

Life of production assets of 10 years is the average useful life of capital assets used in 2U 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 TWOU is equal to -10%. 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 - $195 million for 2U - 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 47.326 million for 2U 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 2U at the current share price and the inputted number of shares is $2.3 billion.

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COMPANY NEWS

▶ 2U reports 2Q loss   [Aug-08-17 12:00AM  Associated Press]
▶ 2U, Inc. Is Delightfully Ahead of Schedule   [Aug-07-17 08:35PM  Motley Fool]
▶ 30% of banking jobs threatened by AI & Blockchain   [Aug-02-17 02:00AM  PR Newswire]
▶ ETFs with exposure to 2U, Inc. : July 10, 2017   [Jul-10-17 03:23PM  Capital Cube]
▶ 3 Growth Stocks for Forward-Looking Investors   [Jul-09-17 06:02AM  Motley Fool]
▶ 2U, Inc. Closes Acquisition of GetSmarter   [Jul-03-17 08:30AM  PR Newswire]
▶ ETFs with exposure to 2U, Inc. : June 27, 2017   [Jun-27-17 03:54PM  Capital Cube]
▶ ETFs with exposure to 2U, Inc. : June 15, 2017   [Jun-15-17 03:35PM  Capital Cube]
▶ 2U, Inc. Value Analysis (NASDAQ:TWOU) : May 22, 2017   [May-22-17 02:43PM  Capital Cube]
▶ 2U reports 1Q loss   [May-04-17 06:51PM  Associated Press]
▶ 2U extends its footprint with $123 million acquisition   [12:32PM  American City Business Journals]
▶ 2U, Inc. to Acquire GetSmarter   [09:20AM  PR Newswire]
▶ [$$] Colleges Rush to Ramp Up Online Classes   [May-01-17 12:09AM  The Wall Street Journal]
▶ 1776 executive departs for ed-tech firm 2U   [Apr-28-17 11:15AM  American City Business Journals]
▶ 2U Inc.   [Apr-27-17 09:30PM  American City Business Journals]
▶ Our Foolish Interview With 2U Inc CEO Chip Paucek   [Mar-31-17 11:00AM  Motley Fool]
▶ Moving Average Crossover Alert: 2U (TWOU)   [Mar-03-17 08:40AM  Zacks]
▶ [$$] 2U May See Revenue Grow 30% a Year   [Feb-27-17 02:26PM  Barrons.com]
▶ [$$] 2U May See Revenue Grow 30% a Year   [02:26PM  at Barrons.com]
▶ 2U reports 4Q loss   [Feb-23-17 06:07PM  AP]
▶ 2U, Inc. Announces Full Program Launch Schedule for 2017   [Feb-08-17 04:15PM  PR Newswire]
▶ 2U Expands Leadership Team with New Senior Hires   [Jan-30-17 08:30AM  PR Newswire]
▶ CES 2017 Day 3 Summary   [Jan-09-17 04:17PM  at Motley Fool]
▶ 3 Top Growth Stocks for 2017   [Jan-05-17 05:07PM  at Motley Fool]
Stock chart of TWOU Financial statements of TWOU
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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