Intrinsic value of Univar - UNVR

Previous Close

$30.57

  Intrinsic Value

$10.17

stock screener

  Rating & Target

str. sell

-67%

Previous close

$30.57

 
Intrinsic value

$10.17

 
Up/down potential

-67%

 
Rating

str. sell

We calculate the intrinsic value of UNVR 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, %
  -10.11
  2.50
  2.75
  2.97
  3.18
  3.36
  3.52
  3.67
  3.80
  3.92
  4.03
  4.13
  4.22
  4.29
  4.36
  4.43
  4.49
  4.54
  4.58
  4.62
  4.66
  4.70
  4.73
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
Revenue, $m
  8,074
  8,276
  8,503
  8,756
  9,035
  9,338
  9,667
  10,022
  10,403
  10,812
  11,248
  11,712
  12,206
  12,730
  13,285
  13,874
  14,496
  15,153
  15,848
  16,581
  17,354
  18,169
  19,028
  19,932
  20,885
  21,887
  22,942
  24,052
  25,220
  26,448
  27,739
Variable operating expenses, $m
 
  6,724
  6,904
  7,104
  7,324
  7,564
  7,824
  8,105
  8,407
  8,729
  9,074
  9,263
  9,653
  10,068
  10,507
  10,973
  11,465
  11,985
  12,534
  13,114
  13,725
  14,370
  15,049
  15,764
  16,518
  17,311
  18,145
  19,023
  19,947
  20,918
  21,939
Fixed operating expenses, $m
 
  1,498
  1,535
  1,573
  1,613
  1,653
  1,694
  1,737
  1,780
  1,825
  1,870
  1,917
  1,965
  2,014
  2,064
  2,116
  2,169
  2,223
  2,279
  2,336
  2,394
  2,454
  2,515
  2,578
  2,643
  2,709
  2,776
  2,846
  2,917
  2,990
  3,065
Total operating expenses, $m
  7,987
  8,222
  8,439
  8,677
  8,937
  9,217
  9,518
  9,842
  10,187
  10,554
  10,944
  11,180
  11,618
  12,082
  12,571
  13,089
  13,634
  14,208
  14,813
  15,450
  16,119
  16,824
  17,564
  18,342
  19,161
  20,020
  20,921
  21,869
  22,864
  23,908
  25,004
Operating income, $m
  86
  55
  65
  79
  98
  121
  149
  181
  217
  258
  303
  532
  587
  648
  714
  785
  862
  945
  1,035
  1,131
  1,235
  1,345
  1,463
  1,590
  1,724
  1,868
  2,021
  2,183
  2,356
  2,540
  2,736
EBITDA, $m
  324
  344
  357
  375
  398
  425
  457
  494
  535
  582
  633
  690
  751
  819
  892
  972
  1,057
  1,149
  1,248
  1,354
  1,468
  1,590
  1,719
  1,858
  2,005
  2,162
  2,329
  2,507
  2,696
  2,896
  3,109
Interest expense (income), $m
  149
  139
  145
  151
  158
  165
  174
  182
  192
  202
  213
  225
  238
  251
  265
  280
  296
  313
  330
  349
  369
  390
  412
  435
  459
  485
  512
  541
  571
  602
  635
Earnings before tax, $m
  -80
  -85
  -80
  -72
  -60
  -44
  -25
  -2
  25
  55
  90
  307
  350
  397
  448
  505
  566
  633
  705
  782
  866
  955
  1,052
  1,155
  1,265
  1,383
  1,509
  1,643
  1,786
  1,938
  2,100
Tax expense, $m
  -12
  0
  0
  0
  0
  0
  0
  0
  7
  15
  24
  83
  94
  107
  121
  136
  153
  171
  190
  211
  234
  258
  284
  312
  342
  373
  407
  444
  482
  523
  567
Net income, $m
  -68
  -85
  -80
  -72
  -60
  -44
  -25
  -2
  18
  40
  66
  224
  255
  290
  327
  369
  413
  462
  514
  571
  632
  697
  768
  843
  923
  1,009
  1,101
  1,199
  1,304
  1,415
  1,533

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  336
  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
  5,390
  5,179
  5,321
  5,480
  5,654
  5,844
  6,050
  6,272
  6,510
  6,766
  7,038
  7,329
  7,638
  7,966
  8,314
  8,682
  9,071
  9,483
  9,917
  10,376
  10,860
  11,370
  11,907
  12,473
  13,069
  13,697
  14,357
  15,051
  15,782
  16,551
  17,359
Adjusted assets (=assets-cash), $m
  5,054
  5,179
  5,321
  5,480
  5,654
  5,844
  6,050
  6,272
  6,510
  6,766
  7,038
  7,329
  7,638
  7,966
  8,314
  8,682
  9,071
  9,483
  9,917
  10,376
  10,860
  11,370
  11,907
  12,473
  13,069
  13,697
  14,357
  15,051
  15,782
  16,551
  17,359
Revenue / Adjusted assets
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
  1.598
Average production assets, $m
  1,480
  1,514
  1,556
  1,602
  1,653
  1,709
  1,769
  1,834
  1,904
  1,979
  2,058
  2,143
  2,234
  2,330
  2,431
  2,539
  2,653
  2,773
  2,900
  3,034
  3,176
  3,325
  3,482
  3,648
  3,822
  4,005
  4,198
  4,402
  4,615
  4,840
  5,076
Working capital, $m
  838
  654
  672
  692
  714
  738
  764
  792
  822
  854
  889
  925
  964
  1,006
  1,050
  1,096
  1,145
  1,197
  1,252
  1,310
  1,371
  1,435
  1,503
  1,575
  1,650
  1,729
  1,812
  1,900
  1,992
  2,089
  2,191
Total debt, $m
  2,979
  2,956
  3,082
  3,221
  3,374
  3,541
  3,723
  3,918
  4,128
  4,353
  4,593
  4,849
  5,120
  5,409
  5,715
  6,039
  6,382
  6,744
  7,126
  7,530
  7,956
  8,404
  8,877
  9,375
  9,900
  10,452
  11,033
  11,644
  12,287
  12,964
  13,675
Total liabilities, $m
  4,580
  4,557
  4,683
  4,822
  4,975
  5,142
  5,324
  5,519
  5,729
  5,954
  6,194
  6,450
  6,721
  7,010
  7,316
  7,640
  7,983
  8,345
  8,727
  9,131
  9,557
  10,005
  10,478
  10,976
  11,501
  12,053
  12,634
  13,245
  13,888
  14,565
  15,276
Total equity, $m
  810
  621
  639
  658
  678
  701
  726
  753
  781
  812
  845
  879
  917
  956
  998
  1,042
  1,089
  1,138
  1,190
  1,245
  1,303
  1,364
  1,429
  1,497
  1,568
  1,644
  1,723
  1,806
  1,894
  1,986
  2,083
Total liabilities and equity, $m
  5,390
  5,178
  5,322
  5,480
  5,653
  5,843
  6,050
  6,272
  6,510
  6,766
  7,039
  7,329
  7,638
  7,966
  8,314
  8,682
  9,072
  9,483
  9,917
  10,376
  10,860
  11,369
  11,907
  12,473
  13,069
  13,697
  14,357
  15,051
  15,782
  16,551
  17,359
Debt-to-equity ratio
  3.678
  4.760
  4.830
  4.900
  4.970
  5.050
  5.130
  5.210
  5.280
  5.360
  5.440
  5.510
  5.590
  5.660
  5.730
  5.800
  5.860
  5.930
  5.990
  6.050
  6.100
  6.160
  6.210
  6.260
  6.310
  6.360
  6.400
  6.450
  6.490
  6.530
  6.560
Adjusted equity ratio
  0.099
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120
  0.120

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -68
  -85
  -80
  -72
  -60
  -44
  -25
  -2
  18
  40
  66
  224
  255
  290
  327
  369
  413
  462
  514
  571
  632
  697
  768
  843
  923
  1,009
  1,101
  1,199
  1,304
  1,415
  1,533
Depreciation, amort., depletion, $m
  238
  290
  293
  296
  300
  304
  308
  313
  318
  324
  330
  158
  164
  171
  179
  187
  195
  204
  213
  223
  234
  244
  256
  268
  281
  295
  309
  324
  339
  356
  373
Funds from operations, $m
  615
  205
  213
  224
  240
  260
  284
  311
  337
  364
  395
  382
  419
  461
  506
  555
  608
  666
  728
  794
  865
  942
  1,024
  1,111
  1,204
  1,304
  1,410
  1,523
  1,643
  1,771
  1,907
Change in working capital, $m
  165
  16
  18
  20
  22
  24
  26
  28
  30
  32
  34
  37
  39
  41
  44
  46
  49
  52
  55
  58
  61
  64
  68
  71
  75
  79
  83
  88
  92
  97
  102
Cash from operations, $m
  450
  189
  195
  204
  218
  236
  258
  283
  306
  332
  361
  345
  380
  420
  462
  509
  559
  614
  673
  736
  804
  877
  956
  1,040
  1,129
  1,225
  1,327
  1,435
  1,551
  1,674
  1,805
Maintenance CAPEX, $m
  0
  -109
  -111
  -114
  -118
  -122
  -126
  -130
  -135
  -140
  -145
  -151
  -158
  -164
  -171
  -179
  -187
  -195
  -204
  -213
  -223
  -234
  -244
  -256
  -268
  -281
  -295
  -309
  -324
  -339
  -356
New CAPEX, $m
  -90
  -35
  -42
  -46
  -51
  -56
  -60
  -65
  -70
  -75
  -80
  -85
  -90
  -96
  -102
  -108
  -114
  -120
  -127
  -134
  -141
  -149
  -157
  -166
  -174
  -183
  -193
  -203
  -214
  -225
  -236
Cash from investing activities, $m
  -136
  -144
  -153
  -160
  -169
  -178
  -186
  -195
  -205
  -215
  -225
  -236
  -248
  -260
  -273
  -287
  -301
  -315
  -331
  -347
  -364
  -383
  -401
  -422
  -442
  -464
  -488
  -512
  -538
  -564
  -592
Free cash flow, $m
  314
  45
  42
  44
  49
  59
  72
  88
  102
  117
  136
  109
  133
  159
  189
  222
  259
  298
  342
  389
  440
  495
  554
  618
  687
  760
  839
  923
  1,014
  1,110
  1,212
Issuance/(repayment) of debt, $m
  -183
  111
  125
  139
  153
  167
  181
  195
  210
  225
  240
  256
  272
  289
  306
  324
  343
  362
  382
  404
  426
  449
  473
  498
  524
  552
  581
  611
  643
  676
  711
Issuance/(repurchase) of shares, $m
  17
  98
  97
  91
  81
  67
  50
  29
  10
  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  
  -166
  209
  222
  230
  234
  234
  231
  224
  220
  225
  240
  256
  272
  289
  306
  324
  343
  362
  382
  404
  426
  449
  473
  498
  524
  552
  581
  611
  643
  676
  711
Total cash flow (excl. dividends), $m
  148
  255
  264
  274
  283
  293
  303
  312
  322
  342
  376
  364
  404
  448
  495
  546
  601
  661
  724
  792
  865
  944
  1,027
  1,116
  1,211
  1,312
  1,420
  1,535
  1,657
  1,786
  1,923
Retained Cash Flow (-), $m
  7
  -98
  -97
  -91
  -81
  -67
  -50
  -29
  -29
  -31
  -33
  -35
  -37
  -39
  -42
  -44
  -47
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -72
  -75
  -79
  -83
  -88
  -92
  -97
Prev. year cash balance distribution, $m
 
  202
  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
 
  359
  167
  183
  203
  226
  253
  284
  294
  312
  343
  329
  367
  409
  454
  502
  555
  611
  672
  737
  807
  882
  963
  1,048
  1,140
  1,237
  1,341
  1,451
  1,569
  1,694
  1,826
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
 
  324
  135
  131
  127
  122
  117
  110
  95
  82
  73
  55
  48
  41
  34
  27
  22
  17
  13
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  97.1
  94.3
  91.8
  89.8
  88.2
  87.0
  86.4
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1
  86.1

Univar Inc. is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company's USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States. In the United States, it services these multiple end markets with one-to-three day order times from nearby facilities. It repackages and blends bulk chemicals for shipment by its transportation fleet, as well as common carriers. Its Canadian operations are regionally focused, supplying a range of commodity and specialty chemicals to the local customer base. In Eastern Canada, it primarily focuses on industrial markets, such as food ingredients and products, pharmaceutical ingredients and finished products, coatings and adhesives, and chemical manufacturing.

FINANCIAL RATIOS  of  Univar (UNVR)

Valuation Ratios
P/E Ratio -62.4
Price to Sales 0.5
Price to Book 5.2
Price to Tangible Book
Price to Cash Flow 9.4
Price to Free Cash Flow 11.8
Growth Rates
Sales Growth Rate -10.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -37.9%
Cap. Spend. - 3 Yr. Gr. Rate -8.6%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 351.2%
Total Debt to Equity 367.8%
Interest Coverage 0
Management Effectiveness
Return On Assets 1.1%
Ret/ On Assets - 3 Yr. Avg. 1.7%
Return On Total Capital -1.8%
Ret/ On T. Cap. - 3 Yr. Avg. -0.6%
Return On Equity -8.4%
Return On Equity - 3 Yr. Avg. -3.8%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 21.4%
Gross Margin - 3 Yr. Avg. 20%
EBITDA Margin 3.8%
EBITDA Margin - 3 Yr. Avg. 4.2%
Operating Margin 1.1%
Oper. Margin - 3 Yr. Avg. 2%
Pre-Tax Margin -1%
Pre-Tax Margin - 3 Yr. Avg. -0.3%
Net Profit Margin -0.8%
Net Profit Margin - 3 Yr. Avg. -0.3%
Effective Tax Rate 15%
Eff/ Tax Rate - 3 Yr. Avg. 32.2%
Payout Ratio 0%

UNVR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the UNVR stock intrinsic value calculation we used $8074 million for the last fiscal year's total revenue generated by Univar. The default revenue input number comes from 2016 income statement of Univar. 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 UNVR stock valuation model: a) initial revenue growth rate of 2.5% 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 UNVR is calculated based on our internal credit rating of Univar, 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 Univar.
    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 UNVR stock the variable cost ratio is equal to 81.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1461 million in the base year in the intrinsic value calculation for UNVR 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 4.9% for Univar.

Corporate tax rate of 27% is the nominal tax rate for Univar. 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 UNVR 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 UNVR are equal to 18.3%.

Life of production assets of 13.6 years is the average useful life of capital assets used in Univar 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 UNVR is equal to 7.9%. 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 - $810 million for Univar - 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 141.473 million for Univar 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 Univar at the current share price and the inputted number of shares is $4.3 billion.

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COMPANY NEWS

▶ Univar Closes Kemetyl Industrial Chemicals Acquisition   [Jan-04-18 07:30AM  PR Newswire]
▶ Univar Names Mark Fisher as USA President   [07:00AM  PR Newswire]
▶ Univar (UNVR) in Focus: Stock Moves 7.2% Higher   [Dec-18-17 08:35AM  Zacks]
▶ ETFs with exposure to Univar, Inc. : December 15, 2017   [Dec-15-17 02:12PM  Capital Cube]
▶ Univar Acquires Kemetyl Industrial Chemicals   [Dec-08-17 06:00AM  PR Newswire]
▶ Univar Goes Digital with Annual Sustainability Report   [Nov-27-17 12:05PM  PR Newswire]
▶ Univar Getting Closer To Key Technical Measure   [Nov-13-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Univar, Inc. : November 7, 2017   [Nov-07-17 10:50AM  Capital Cube]
▶ Univar beats 3Q profit forecasts   [05:39AM  Associated Press]
▶ Heres Why SenesTech Inc (SNES) Shares Skyrocketed Today   [Oct-23-17 03:49PM  SmarterAnalyst]
▶ Univar Inc. -- Moody's upgrades Univar to B1   [Oct-11-17 12:58PM  Moody's]
▶ Univar, Inc. Value Analysis (NYSE:UNVR) : October 2, 2017   [Oct-02-17 11:25AM  Capital Cube]
▶ Univar Acquires Tagma Brasil   [Sep-21-17 04:15PM  PR Newswire]
▶ Univar Statement Regarding Hurricane Harvey Impact   [Aug-29-17 04:01PM  PR Newswire]
▶ ETFs with exposure to Univar, Inc. : August 25, 2017   [Aug-25-17 05:50PM  Capital Cube]
▶ Univar tops 2Q profit forecasts   [Aug-04-17 09:15PM  Associated Press]
▶ Univar, Inc. Value Analysis (NYSE:UNVR) : August 4, 2017   [Aug-03-17 11:46PM  Capital Cube]
▶ ETFs with exposure to Univar, Inc. : May 22, 2017   [May-22-17 02:17PM  Capital Cube]
▶ ETFs with exposure to Univar, Inc. : May 11, 2017   [May-11-17 05:41PM  Capital Cube]
▶ Univar misses 1Q profit forecasts   [06:11AM  Associated Press]
▶ Univar, Inc. Value Analysis (NYSE:UNVR) : May 4, 2017   [May-04-17 05:09PM  Capital Cube]
▶ Momentum Stocks Breaking Higher With Volume   [May-03-17 01:00PM  Investopedia]
▶ Brokers Love These 5 Stocks Right Now   [Apr-25-17 08:45AM  Zacks]
Financial statements of UNVR
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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