Intrinsic value of Controladora Vuela Compania de Aviacion - VLRS

Previous Close

$12.61

  Intrinsic Value

premium content

  Rating & Target

premium content

  Value-price divergence*

premium content

Previous close

$12.61

 
Intrinsic value

$102.38

 
Up/down potential

+712%

 
Rating

str. buy

 
Value-price divergence* premium content

Premium access subscription - $499/yr

please register and log in before paying

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

We calculate the intrinsic value of VLRS 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 1.1

 

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, %
  29.32
  27.10
  24.89
  22.90
  21.11
  19.50
  18.05
  16.74
  15.57
  14.51
  13.56
  12.71
  11.94
  11.24
  10.62
  10.06
  9.55
  9.10
  8.69
  8.32
  7.99
  7.69
  7.42
  7.18
  6.96
  6.76
  6.59
  6.43
  6.29
  6.16
  6.04
Revenue, $m
  1,191
  1,514
  1,891
  2,323
  2,814
  3,363
  3,970
  4,634
  5,356
  6,133
  6,965
  7,850
  8,787
  9,775
  10,813
  11,900
  13,036
  14,222
  15,457
  16,743
  18,080
  19,470
  20,914
  22,415
  23,975
  25,596
  27,282
  29,036
  30,861
  32,761
  34,740
Variable operating expenses, $m
 
  1,305
  1,630
  2,003
  2,426
  2,899
  3,422
  3,995
  4,617
  5,287
  6,004
  6,767
  7,574
  8,426
  9,321
  10,258
  11,237
  12,259
  13,324
  14,433
  15,585
  16,783
  18,028
  19,322
  20,666
  22,064
  23,517
  25,029
  26,602
  28,240
  29,946
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
  1,052
  1,305
  1,630
  2,003
  2,426
  2,899
  3,422
  3,995
  4,617
  5,287
  6,004
  6,767
  7,574
  8,426
  9,321
  10,258
  11,237
  12,259
  13,324
  14,433
  15,585
  16,783
  18,028
  19,322
  20,666
  22,064
  23,517
  25,029
  26,602
  28,240
  29,946
Operating income, $m
  139
  209
  261
  321
  388
  464
  548
  640
  739
  846
  961
  1,083
  1,213
  1,349
  1,492
  1,642
  1,799
  1,963
  2,133
  2,311
  2,495
  2,687
  2,886
  3,093
  3,309
  3,532
  3,765
  4,007
  4,259
  4,521
  4,794
EBITDA, $m
  166
  227
  283
  348
  422
  504
  595
  694
  802
  919
  1,043
  1,176
  1,316
  1,464
  1,620
  1,783
  1,953
  2,130
  2,316
  2,508
  2,708
  2,917
  3,133
  3,358
  3,591
  3,834
  4,087
  4,350
  4,623
  4,908
  5,204
Interest expense (income), $m
  2
  0
  5
  11
  18
  25
  34
  43
  53
  65
  77
  90
  103
  118
  133
  149
  166
  184
  202
  221
  241
  262
  284
  306
  329
  354
  379
  405
  432
  460
  490
Earnings before tax, $m
  252
  209
  256
  310
  371
  439
  514
  596
  686
  782
  884
  994
  1,109
  1,231
  1,359
  1,493
  1,633
  1,779
  1,931
  2,089
  2,254
  2,425
  2,603
  2,787
  2,979
  3,179
  3,386
  3,602
  3,827
  4,061
  4,304
Tax expense, $m
  74
  56
  69
  84
  100
  118
  139
  161
  185
  211
  239
  268
  300
  332
  367
  403
  441
  480
  521
  564
  609
  655
  703
  753
  804
  858
  914
  973
  1,033
  1,096
  1,162
Net income, $m
  178
  152
  187
  226
  271
  320
  375
  435
  501
  571
  646
  725
  810
  899
  992
  1,090
  1,192
  1,299
  1,410
  1,525
  1,645
  1,770
  1,900
  2,035
  2,175
  2,320
  2,472
  2,630
  2,793
  2,964
  3,142

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  358
  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
  1,129
  980
  1,224
  1,504
  1,821
  2,177
  2,569
  3,000
  3,467
  3,970
  4,508
  5,081
  5,687
  6,327
  6,999
  7,702
  8,438
  9,205
  10,005
  10,837
  11,702
  12,602
  13,537
  14,508
  15,518
  16,567
  17,658
  18,793
  19,975
  21,204
  22,485
Adjusted assets (=assets-cash), $m
  771
  980
  1,224
  1,504
  1,821
  2,177
  2,569
  3,000
  3,467
  3,970
  4,508
  5,081
  5,687
  6,327
  6,999
  7,702
  8,438
  9,205
  10,005
  10,837
  11,702
  12,602
  13,537
  14,508
  15,518
  16,567
  17,658
  18,793
  19,975
  21,204
  22,485
Revenue / Adjusted assets
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
  1.545
Average production assets, $m
  70
  89
  112
  137
  166
  198
  234
  273
  316
  362
  411
  463
  518
  577
  638
  702
  769
  839
  912
  988
  1,067
  1,149
  1,234
  1,322
  1,415
  1,510
  1,610
  1,713
  1,821
  1,933
  2,050
Working capital, $m
  185
  -151
  -189
  -232
  -281
  -336
  -397
  -463
  -536
  -613
  -697
  -785
  -879
  -977
  -1,081
  -1,190
  -1,304
  -1,422
  -1,546
  -1,674
  -1,808
  -1,947
  -2,091
  -2,242
  -2,397
  -2,560
  -2,728
  -2,904
  -3,086
  -3,276
  -3,474
Total debt, $m
  54
  143
  310
  502
  720
  963
  1,232
  1,527
  1,847
  2,191
  2,560
  2,952
  3,368
  3,806
  4,266
  4,748
  5,252
  5,778
  6,325
  6,895
  7,488
  8,104
  8,745
  9,410
  10,102
  10,820
  11,568
  12,345
  13,155
  13,997
  14,874
Total liabilities, $m
  582
  671
  838
  1,030
  1,248
  1,491
  1,760
  2,055
  2,375
  2,719
  3,088
  3,480
  3,896
  4,334
  4,794
  5,276
  5,780
  6,306
  6,853
  7,423
  8,016
  8,632
  9,273
  9,938
  10,630
  11,348
  12,096
  12,873
  13,683
  14,525
  15,402
Total equity, $m
  547
  309
  385
  474
  574
  686
  809
  945
  1,092
  1,250
  1,420
  1,601
  1,792
  1,993
  2,205
  2,426
  2,658
  2,900
  3,152
  3,414
  3,686
  3,970
  4,264
  4,570
  4,888
  5,219
  5,562
  5,920
  6,292
  6,679
  7,083
Total liabilities and equity, $m
  1,129
  980
  1,223
  1,504
  1,822
  2,177
  2,569
  3,000
  3,467
  3,969
  4,508
  5,081
  5,688
  6,327
  6,999
  7,702
  8,438
  9,206
  10,005
  10,837
  11,702
  12,602
  13,537
  14,508
  15,518
  16,567
  17,658
  18,793
  19,975
  21,204
  22,485
Debt-to-equity ratio
  0.099
  0.460
  0.800
  1.060
  1.250
  1.400
  1.520
  1.620
  1.690
  1.750
  1.800
  1.840
  1.880
  1.910
  1.940
  1.960
  1.980
  1.990
  2.010
  2.020
  2.030
  2.040
  2.050
  2.060
  2.070
  2.070
  2.080
  2.090
  2.090
  2.100
  2.100
Adjusted equity ratio
  0.245
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315
  0.315

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  178
  152
  187
  226
  271
  320
  375
  435
  501
  571
  646
  725
  810
  899
  992
  1,090
  1,192
  1,299
  1,410
  1,525
  1,645
  1,770
  1,900
  2,035
  2,175
  2,320
  2,472
  2,630
  2,793
  2,964
  3,142
Depreciation, amort., depletion, $m
  27
  18
  22
  27
  33
  40
  47
  55
  63
  72
  82
  93
  104
  115
  128
  140
  154
  168
  182
  198
  213
  230
  247
  264
  283
  302
  322
  343
  364
  387
  410
Funds from operations, $m
  -26
  170
  209
  254
  304
  360
  422
  490
  564
  643
  728
  818
  913
  1,014
  1,120
  1,230
  1,346
  1,466
  1,592
  1,723
  1,859
  2,000
  2,147
  2,299
  2,458
  2,622
  2,794
  2,972
  3,158
  3,351
  3,552
Change in working capital, $m
  -76
  -32
  -38
  -43
  -49
  -55
  -61
  -66
  -72
  -78
  -83
  -88
  -94
  -99
  -104
  -109
  -114
  -119
  -124
  -129
  -134
  -139
  -144
  -150
  -156
  -162
  -169
  -175
  -182
  -190
  -198
Cash from operations, $m
  50
  139
  247
  297
  353
  415
  483
  557
  636
  721
  811
  907
  1,007
  1,113
  1,223
  1,339
  1,459
  1,585
  1,715
  1,851
  1,992
  2,139
  2,291
  2,449
  2,614
  2,785
  2,962
  3,147
  3,340
  3,541
  3,750
Maintenance CAPEX, $m
  0
  -14
  -18
  -22
  -27
  -33
  -40
  -47
  -55
  -63
  -72
  -82
  -93
  -104
  -115
  -128
  -140
  -154
  -168
  -182
  -198
  -213
  -230
  -247
  -264
  -283
  -302
  -322
  -343
  -364
  -387
New CAPEX, $m
  -114
  -19
  -22
  -26
  -29
  -32
  -36
  -39
  -43
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -67
  -70
  -73
  -76
  -79
  -82
  -85
  -89
  -92
  -96
  -99
  -103
  -108
  -112
  -117
Cash from investing activities, $m
  -1
  -33
  -40
  -48
  -56
  -65
  -76
  -86
  -98
  -109
  -121
  -134
  -148
  -162
  -176
  -192
  -207
  -224
  -241
  -258
  -277
  -295
  -315
  -336
  -356
  -379
  -401
  -425
  -451
  -476
  -504
Free cash flow, $m
  49
  105
  207
  249
  297
  349
  407
  470
  539
  612
  690
  772
  859
  951
  1,047
  1,147
  1,252
  1,361
  1,475
  1,593
  1,716
  1,843
  1,976
  2,114
  2,257
  2,406
  2,561
  2,722
  2,890
  3,065
  3,247
Issuance/(repayment) of debt, $m
  9
  143
  167
  192
  217
  243
  269
  295
  320
  345
  369
  392
  415
  438
  460
  482
  504
  526
  548
  570
  593
  616
  640
  665
  692
  719
  747
  778
  809
  842
  877
Issuance/(repurchase) of shares, $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
  0
Cash from financing (excl. dividends), $m  
  1
  143
  167
  192
  217
  243
  269
  295
  320
  345
  369
  392
  415
  438
  460
  482
  504
  526
  548
  570
  593
  616
  640
  665
  692
  719
  747
  778
  809
  842
  877
Total cash flow (excl. dividends), $m
  97
  248
  374
  441
  514
  593
  676
  765
  859
  956
  1,058
  1,165
  1,275
  1,389
  1,507
  1,629
  1,756
  1,887
  2,022
  2,163
  2,309
  2,460
  2,616
  2,779
  2,949
  3,125
  3,308
  3,500
  3,699
  3,907
  4,124
Retained Cash Flow (-), $m
  -201
  -66
  -77
  -88
  -100
  -112
  -124
  -136
  -147
  -158
  -170
  -180
  -191
  -201
  -212
  -222
  -232
  -242
  -252
  -262
  -273
  -283
  -294
  -306
  -318
  -331
  -344
  -358
  -372
  -387
  -403
Prev. year cash balance distribution, $m
 
  304
  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
 
  487
  297
  353
  414
  481
  553
  630
  711
  798
  889
  984
  1,084
  1,187
  1,295
  1,408
  1,524
  1,645
  1,771
  1,901
  2,036
  2,176
  2,322
  2,473
  2,631
  2,794
  2,965
  3,142
  3,327
  3,520
  3,720
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
 
  467
  272
  307
  341
  373
  401
  425
  445
  458
  466
  467
  462
  451
  435
  413
  387
  358
  326
  293
  259
  225
  193
  162
  134
  109
  86
  67
  51
  38
  28
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

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. provides air transportation services for passengers, cargo, and mail in Mexico and internationally. As of December 31, 2015, the company operated a fleet of 56 Airbus narrow-body aircraft, which include 18 Airbus A319s, 36 A320s, and 2 A321s. It operates approximately 272 daily flights on routes that connect 40 cities in Mexico and 22 cities in the United States and Central America. The company also offers recruitment and payroll services. Controladora Vuela Compania de Aviacion, S.A.B. de C.V. was founded in 2003 and is headquartered in Mexico City, Mexico.

FINANCIAL RATIOS  of  Controladora Vuela Compania de Aviacion (VLRS)

Valuation Ratios
P/E Ratio 70.8
Price to Sales 10.6
Price to Book 23
Price to Tangible Book
Price to Cash Flow 251.9
Price to Free Cash Flow -196.8
Growth Rates
Sales Growth Rate 29.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 54.1%
Cap. Spend. - 3 Yr. Gr. Rate 14.1%
Financial Strength
Quick Ratio 7
Current Ratio 0.4
LT Debt to Equity 0%
Total Debt to Equity 9.9%
Interest Coverage 127
Management Effectiveness
Return On Assets 18.9%
Ret/ On Assets - 3 Yr. Avg. 15.2%
Return On Total Capital 34.6%
Ret/ On T. Cap. - 3 Yr. Avg. 27.1%
Return On Equity 39.9%
Return On Equity - 3 Yr. Avg. 32.7%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 19.9%
EBITDA Margin 23.6%
EBITDA Margin - 3 Yr. Avg. 17.6%
Operating Margin 11.7%
Oper. Margin - 3 Yr. Avg. 9%
Pre-Tax Margin 21.2%
Pre-Tax Margin - 3 Yr. Avg. 15%
Net Profit Margin 14.9%
Net Profit Margin - 3 Yr. Avg. 11%
Effective Tax Rate 29.4%
Eff/ Tax Rate - 3 Yr. Avg. 21.6%
Payout Ratio 0%

VLRS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VLRS stock intrinsic value calculation we used $1191 million for the last fiscal year's total revenue generated by Controladora Vuela Compania de Aviacion . The default revenue input number comes from 2016 income statement of Controladora Vuela Compania de Aviacion . 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 VLRS stock valuation model: a) initial revenue growth rate of 27.1% 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 VLRS is calculated based on our internal credit rating of Controladora Vuela Compania de Aviacion , 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 Controladora Vuela Compania de Aviacion .
    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 VLRS stock the variable cost ratio is equal to 86.2%.

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 VLRS 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 Controladora Vuela Compania de Aviacion .

Corporate tax rate of 27% is the nominal tax rate for Controladora Vuela Compania de Aviacion . 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 VLRS 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 VLRS are equal to 5.9%.

Life of production assets of 2.6 years is the average useful life of capital assets used in Controladora Vuela Compania de Aviacion 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 VLRS 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 - $547 million for Controladora Vuela Compania de Aviacion - 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 87.518 million for Controladora Vuela Compania de Aviacion 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 Controladora Vuela Compania de Aviacion at the current share price and the inputted number of shares is $1.1 billion.


Premium access subscription - $499/yr

please register and log in before paying
RELATED COMPANIES Price Int.Val. Rating
AVH Avianca Holdin 7.28 10.78  buy
CPA Copa Holdings 116.42 37.53  str.sell
LFL LATAM Airlines 12.67 7.27  sell
JBLU JetBlue Airway 21.83 42.92  str.buy
SAVE Spirit Airline 57.27 140.54  str.buy
AAL American Airli 42.62 74.73  str.buy
UAL United Contine 70.21 191.07  str.buy

COMPANY NEWS

▶ Volaris Files Its 20-F Report for the Year 2016   [Apr-28-17 12:02AM  Business Wire]
▶ Why These 2 Airlines Went Opposite Ways on Friday   [Apr-24-17 08:20AM  Motley Fool]
▶ Controladora Vuela reports 1Q loss   [Apr-20-17 07:58AM  Associated Press]
▶ Volaris Is Becoming More Like Spirit Airlines   [Mar-17-17 10:20AM  Motley Fool]
▶ Volaris Is Becoming More Like Spirit Airlines   [10:20AM  at Motley Fool]
▶ Volaris Links Mexico City to Houston   [11:32AM  Business Wire]
▶ Volaris Achieves Business Milestones in 2016   [Mar-01-17 04:17PM  Business Wire]
▶ 5 Airlines Are Competing to Grow in Mexico City   [Jan-30-17 12:29PM  at Motley Fool]
▶ Delta Air Lines, Inc. and Aeromexico Join Forces   [Dec-22-16 06:27PM  at Motley Fool]
▶ Is Inphi Corporation (IPHI) A Good Stock To Buy?   [Dec-07-16 08:33AM  at Insider Monkey]
▶ What Trump Means For Mexico Airlines: Cancun, Anyone?   [Nov-11-16 02:02PM  at Barrons.com]
▶ Why Volaris Stock Tanked 10.8% on Wednesday   [08:42AM  at Motley Fool]
▶ Volaris Announces Relevant Event   [Aug-22-16 05:30PM  Business Wire]
▶ Five Mexican Stocks Hedge Funds Are Bullish On   [Jun-11-16 06:04PM  at Insider Monkey]
▶ Better Buy: Spirit Airlines or Volaris?   [May-04-16 11:30AM  at Motley Fool]
▶ Controladora Vuela posts 1Q profit   [Apr-25-16 07:37AM  AP]
▶ Mexico's Top Budget Airline Has Big Growth Plans   [Mar-31-16 08:15AM  at Motley Fool]
Stock chart of VLRS Financial statements of VLRS
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.