Intrinsic value of USG - USG

Previous Close

$38.89

  Intrinsic Value

$20.15

stock screener

  Rating & Target

sell

-48%

Previous close

$38.89

 
Intrinsic value

$20.15

 
Up/down potential

-48%

 
Rating

sell

We calculate the intrinsic value of USG 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, %
  3.57
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  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
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
Revenue, $m
  3,017
  3,129
  3,248
  3,377
  3,514
  3,659
  3,814
  3,978
  4,153
  4,337
  4,532
  4,738
  4,956
  5,185
  5,427
  5,683
  5,952
  6,235
  6,533
  6,847
  7,177
  7,525
  7,890
  8,275
  8,679
  9,104
  9,550
  10,020
  10,513
  11,032
  11,577
Variable operating expenses, $m
 
  2,497
  2,592
  2,695
  2,804
  2,920
  3,044
  3,175
  3,314
  3,461
  3,617
  3,781
  3,955
  4,138
  4,331
  4,535
  4,749
  4,975
  5,213
  5,464
  5,727
  6,005
  6,296
  6,603
  6,926
  7,265
  7,621
  7,996
  8,390
  8,803
  9,238
Fixed operating expenses, $m
 
  264
  271
  278
  285
  292
  299
  307
  314
  322
  330
  339
  347
  356
  365
  374
  383
  393
  402
  412
  423
  433
  444
  455
  467
  478
  490
  503
  515
  528
  541
Total operating expenses, $m
  2,660
  2,761
  2,863
  2,973
  3,089
  3,212
  3,343
  3,482
  3,628
  3,783
  3,947
  4,120
  4,302
  4,494
  4,696
  4,909
  5,132
  5,368
  5,615
  5,876
  6,150
  6,438
  6,740
  7,058
  7,393
  7,743
  8,111
  8,499
  8,905
  9,331
  9,779
Operating income, $m
  357
  368
  385
  404
  425
  447
  471
  497
  524
  554
  585
  619
  654
  692
  732
  774
  819
  867
  917
  971
  1,027
  1,087
  1,150
  1,216
  1,286
  1,361
  1,439
  1,522
  1,609
  1,700
  1,797
EBITDA, $m
  491
  506
  529
  554
  581
  610
  641
  674
  709
  746
  786
  829
  874
  922
  973
  1,026
  1,083
  1,144
  1,207
  1,275
  1,346
  1,421
  1,500
  1,583
  1,672
  1,765
  1,863
  1,966
  2,075
  2,190
  2,311
Interest expense (income), $m
  153
  102
  109
  116
  124
  132
  142
  151
  161
  172
  183
  195
  208
  222
  236
  251
  267
  283
  301
  319
  338
  359
  380
  403
  427
  452
  478
  506
  535
  565
  597
Earnings before tax, $m
  274
  266
  276
  288
  301
  315
  330
  346
  363
  382
  402
  423
  446
  470
  496
  523
  553
  584
  617
  652
  689
  728
  769
  813
  860
  909
  961
  1,016
  1,074
  1,135
  1,200
Tax expense, $m
  63
  72
  75
  78
  81
  85
  89
  93
  98
  103
  108
  114
  120
  127
  134
  141
  149
  158
  166
  176
  186
  197
  208
  220
  232
  245
  259
  274
  290
  307
  324
Net income, $m
  510
  194
  202
  210
  220
  230
  241
  253
  265
  279
  293
  309
  326
  343
  362
  382
  403
  426
  450
  476
  503
  531
  562
  594
  628
  664
  702
  742
  784
  829
  876

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  489
  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
  3,869
  3,504
  3,638
  3,781
  3,934
  4,098
  4,271
  4,455
  4,650
  4,857
  5,075
  5,306
  5,549
  5,807
  6,078
  6,363
  6,665
  6,982
  7,316
  7,667
  8,037
  8,426
  8,836
  9,266
  9,719
  10,195
  10,695
  11,221
  11,773
  12,354
  12,964
Adjusted assets (=assets-cash), $m
  3,380
  3,504
  3,638
  3,781
  3,934
  4,098
  4,271
  4,455
  4,650
  4,857
  5,075
  5,306
  5,549
  5,807
  6,078
  6,363
  6,665
  6,982
  7,316
  7,667
  8,037
  8,426
  8,836
  9,266
  9,719
  10,195
  10,695
  11,221
  11,773
  12,354
  12,964
Revenue / Adjusted assets
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
  0.893
Average production assets, $m
  1,740
  1,805
  1,874
  1,948
  2,027
  2,111
  2,201
  2,296
  2,396
  2,502
  2,615
  2,734
  2,859
  2,992
  3,132
  3,279
  3,434
  3,597
  3,770
  3,951
  4,141
  4,342
  4,553
  4,774
  5,008
  5,253
  5,511
  5,782
  6,066
  6,365
  6,680
Working capital, $m
  527
  41
  42
  44
  46
  48
  50
  52
  54
  56
  59
  62
  64
  67
  71
  74
  77
  81
  85
  89
  93
  98
  103
  108
  113
  118
  124
  130
  137
  143
  150
Total debt, $m
  1,083
  1,157
  1,235
  1,320
  1,410
  1,505
  1,607
  1,715
  1,830
  1,951
  2,079
  2,215
  2,358
  2,508
  2,668
  2,835
  3,012
  3,198
  3,394
  3,601
  3,818
  4,046
  4,287
  4,539
  4,805
  5,084
  5,378
  5,686
  6,011
  6,352
  6,710
Total liabilities, $m
  1,983
  2,057
  2,135
  2,220
  2,310
  2,405
  2,507
  2,615
  2,730
  2,851
  2,979
  3,115
  3,258
  3,408
  3,568
  3,735
  3,912
  4,098
  4,294
  4,501
  4,718
  4,946
  5,187
  5,439
  5,705
  5,984
  6,278
  6,586
  6,911
  7,252
  7,610
Total equity, $m
  1,886
  1,447
  1,502
  1,562
  1,625
  1,692
  1,764
  1,840
  1,921
  2,006
  2,096
  2,191
  2,292
  2,398
  2,510
  2,628
  2,752
  2,883
  3,021
  3,167
  3,319
  3,480
  3,649
  3,827
  4,014
  4,210
  4,417
  4,634
  4,862
  5,102
  5,354
Total liabilities and equity, $m
  3,869
  3,504
  3,637
  3,782
  3,935
  4,097
  4,271
  4,455
  4,651
  4,857
  5,075
  5,306
  5,550
  5,806
  6,078
  6,363
  6,664
  6,981
  7,315
  7,668
  8,037
  8,426
  8,836
  9,266
  9,719
  10,194
  10,695
  11,220
  11,773
  12,354
  12,964
Debt-to-equity ratio
  0.574
  0.800
  0.820
  0.840
  0.870
  0.890
  0.910
  0.930
  0.950
  0.970
  0.990
  1.010
  1.030
  1.050
  1.060
  1.080
  1.090
  1.110
  1.120
  1.140
  1.150
  1.160
  1.170
  1.190
  1.200
  1.210
  1.220
  1.230
  1.240
  1.240
  1.250
Adjusted equity ratio
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  510
  194
  202
  210
  220
  230
  241
  253
  265
  279
  293
  309
  326
  343
  362
  382
  403
  426
  450
  476
  503
  531
  562
  594
  628
  664
  702
  742
  784
  829
  876
Depreciation, amort., depletion, $m
  134
  139
  144
  150
  156
  162
  169
  177
  184
  192
  201
  210
  220
  230
  241
  252
  264
  277
  290
  304
  319
  334
  350
  367
  385
  404
  424
  445
  467
  490
  514
Funds from operations, $m
  214
  333
  346
  360
  376
  392
  410
  429
  449
  471
  494
  519
  545
  573
  603
  634
  668
  703
  740
  780
  821
  865
  912
  961
  1,013
  1,068
  1,125
  1,186
  1,251
  1,319
  1,390
Change in working capital, $m
  -159
  1
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
Cash from operations, $m
  373
  331
  344
  359
  374
  390
  408
  427
  447
  469
  492
  517
  543
  570
  600
  631
  664
  699
  736
  775
  817
  861
  907
  956
  1,008
  1,062
  1,120
  1,180
  1,244
  1,312
  1,383
Maintenance CAPEX, $m
  0
  -134
  -139
  -144
  -150
  -156
  -162
  -169
  -177
  -184
  -192
  -201
  -210
  -220
  -230
  -241
  -252
  -264
  -277
  -290
  -304
  -319
  -334
  -350
  -367
  -385
  -404
  -424
  -445
  -467
  -490
New CAPEX, $m
  -83
  -66
  -69
  -74
  -79
  -84
  -89
  -95
  -101
  -106
  -113
  -119
  -126
  -132
  -140
  -147
  -155
  -163
  -172
  -181
  -191
  -201
  -211
  -222
  -233
  -245
  -258
  -271
  -285
  -299
  -314
Cash from investing activities, $m
  746
  -200
  -208
  -218
  -229
  -240
  -251
  -264
  -278
  -290
  -305
  -320
  -336
  -352
  -370
  -388
  -407
  -427
  -449
  -471
  -495
  -520
  -545
  -572
  -600
  -630
  -662
  -695
  -730
  -766
  -804
Free cash flow, $m
  1,119
  132
  136
  140
  145
  150
  156
  163
  170
  178
  187
  196
  207
  218
  230
  243
  257
  272
  287
  304
  322
  342
  362
  384
  407
  432
  458
  486
  515
  546
  579
Issuance/(repayment) of debt, $m
  -1,131
  74
  79
  84
  90
  96
  102
  108
  114
  121
  128
  135
  143
  151
  159
  168
  177
  186
  196
  206
  217
  228
  240
  253
  266
  279
  294
  309
  324
  341
  358
Issuance/(repurchase) of shares, $m
  2
  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  
  -1,129
  74
  79
  84
  90
  96
  102
  108
  114
  121
  128
  135
  143
  151
  159
  168
  177
  186
  196
  206
  217
  228
  240
  253
  266
  279
  294
  309
  324
  341
  358
Total cash flow (excl. dividends), $m
  -15
  205
  215
  225
  235
  246
  258
  271
  285
  299
  315
  332
  350
  369
  389
  411
  433
  458
  483
  511
  540
  570
  602
  637
  673
  711
  751
  794
  839
  887
  937
Retained Cash Flow (-), $m
  -450
  -50
  -55
  -59
  -63
  -67
  -72
  -76
  -81
  -85
  -90
  -95
  -101
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -153
  -161
  -169
  -178
  -187
  -197
  -207
  -217
  -228
  -240
  -252
Prev. year cash balance distribution, $m
 
  489
  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
 
  644
  160
  165
  172
  179
  186
  195
  204
  214
  225
  237
  249
  263
  277
  293
  309
  327
  346
  366
  387
  409
  433
  459
  486
  515
  545
  577
  611
  647
  685
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
 
  618
  146
  144
  141
  138
  135
  132
  128
  123
  118
  112
  106
  100
  93
  86
  79
  71
  64
  56
  49
  42
  36
  30
  25
  20
  16
  12
  9
  7
  5
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

USG Corporation, through its subsidiaries, is a manufacturer and distributor of building materials. The Company's segments include Gypsum, Ceilings and USG Boral Building Products (UBBP). It produces a range of products for use in new residential, new nonresidential, and residential and nonresidential repair and remodel construction, as well as products used in certain industrial processes. Its products are distributed through building materials dealers, home improvement centers and other retailers, specialty wallboard distributors, and contractors. Gypsum segment manufactures and markets gypsum and related products in the United States, Canada, Mexico and Latin America. Ceilings segment manufactures and markets interior systems products in the United States, Canada, Mexico and Latin America. The UBBP segment manufactures, distributes and sells certain building products, mines raw gypsum and sells natural and synthetic gypsum throughout Asia, Australasia and the Middle East.

FINANCIAL RATIOS  of  USG (USG)

Valuation Ratios
P/E Ratio 11.1
Price to Sales 1.9
Price to Book 3
Price to Tangible Book
Price to Cash Flow 15.2
Price to Free Cash Flow 19.6
Growth Rates
Sales Growth Rate 3.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -11.7%
Cap. Spend. - 3 Yr. Gr. Rate -10.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 57.4%
Total Debt to Equity 57.4%
Interest Coverage 3
Management Effectiveness
Return On Assets 14.6%
Ret/ On Assets - 3 Yr. Avg. 18.9%
Return On Total Capital 15.5%
Ret/ On T. Cap. - 3 Yr. Avg. 16.2%
Return On Equity 30.7%
Return On Equity - 3 Yr. Avg. 48.4%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 23.4%
Gross Margin - 3 Yr. Avg. 21.1%
EBITDA Margin 18.6%
EBITDA Margin - 3 Yr. Avg. 15.7%
Operating Margin 11.8%
Oper. Margin - 3 Yr. Avg. 9.5%
Pre-Tax Margin 9.1%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 16.9%
Net Profit Margin - 3 Yr. Avg. 17.3%
Effective Tax Rate 23%
Eff/ Tax Rate - 3 Yr. Avg. -91.8%
Payout Ratio 0%

USG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the USG stock intrinsic value calculation we used $3017 million for the last fiscal year's total revenue generated by USG. The default revenue input number comes from 2016 income statement of USG. 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 USG stock valuation model: a) initial revenue growth rate of 3.7% 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 USG is calculated based on our internal credit rating of USG, 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 USG.
    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 USG stock the variable cost ratio is equal to 79.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $258 million in the base year in the intrinsic value calculation for USG 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 9.4% for USG.

Corporate tax rate of 27% is the nominal tax rate for USG. 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 USG 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 USG are equal to 57.7%.

Life of production assets of 13 years is the average useful life of capital assets used in USG 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 USG is equal to 1.3%. 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 - $1886 million for USG - 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 141.598 million for USG 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 USG at the current share price and the inputted number of shares is $5.5 billion.

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COMPANY NEWS

▶ ETFs with exposure to USG Corp. : December 11, 2017   [Dec-11-17 02:13PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : December 1, 2017   [Dec-01-17 10:49AM  Capital Cube]
▶ USG Corporation Completes Acquisition of Ceilings Plus   [Nov-30-17 04:30PM  Business Wire]
▶ ETFs with exposure to USG Corp. : November 20, 2017   [Nov-20-17 01:31PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : November 9, 2017   [Nov-09-17 01:20PM  Capital Cube]
▶ USG Corporation Expands Operations in Jacksonville   [Nov-02-17 07:30AM  Business Wire]
▶ ETFs with exposure to USG Corp. : October 30, 2017   [Oct-30-17 12:21PM  Capital Cube]
▶ USG Meets 80-Plus Relative Strength Rating Benchmark   [03:00AM  Investor's Business Daily]
▶ USG meets 3Q profit forecasts   [Oct-26-17 08:17AM  Associated Press]
▶ USG Corporation to Host Earnings Call   [07:35AM  ACCESSWIRE]
▶ Stocks With Rising Relative Strength: USG   [03:00AM  Investor's Business Daily]
▶ Stocks Generating Improved Relative Strength: USG   [03:00AM  Investor's Business Daily]
▶ Trending: Insurance ETFs in Luck as Irma Shows Mercy   [Sep-14-17 08:00AM  ETF Database]
▶ USG Corp. Value Analysis (NYSE:USG) : September 2, 2017   [Sep-02-17 12:18AM  Capital Cube]
▶ ETFs with exposure to USG Corp. : September 2, 2017   [Sep-01-17 09:05PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : August 22, 2017   [Aug-22-17 04:18PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : August 11, 2017   [Aug-11-17 07:09PM  Capital Cube]
▶ USG misses Street 2Q forecasts   [Jul-26-17 09:56PM  Associated Press]
▶ USG Corp. Value Analysis (NYSE:USG) : June 30, 2017   [Jun-30-17 04:12PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : June 12, 2017   [Jun-12-17 02:32PM  Capital Cube]
▶ 3 Stocks for Warren Buffett Fans   [Jun-02-17 08:32AM  Motley Fool]
▶ ETFs with exposure to USG Corp. : June 1, 2017   [Jun-01-17 02:06PM  Capital Cube]
▶ ETFs with exposure to USG Corp. : May 15, 2017   [May-15-17 04:50PM  Capital Cube]
▶ What Morningstar Readers Would Ask Buffett   [May-07-17 06:00AM  Morningstar]
▶ ETFs with exposure to USG Corp. : May 2, 2017   [May-02-17 04:47PM  Capital Cube]
▶ USG misses 1Q profit forecasts   [Apr-27-17 08:10AM  Associated Press]
▶ Earnings Season's Back: Stocks With Big Upside   [Apr-14-17 03:31PM  Benzinga]
▶ 3 Warren Buffett Stocks to Buy in April   [Apr-11-17 02:22PM  Motley Fool]
Financial statements of USG
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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