Intrinsic value of Ventas - VTR

Previous Close

$63.87

  Intrinsic Value

$6.76

stock screener

  Rating & Target

str. sell

-89%

Previous close

$63.87

 
Intrinsic value

$6.76

 
Up/down potential

-89%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as VTR.

We calculate the intrinsic value of VTR 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 22.7

 

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, %
  4.81
  5.50
  5.45
  5.40
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
  5.16
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
Revenue, $m
  3,444
  3,633
  3,831
  4,039
  4,255
  4,482
  4,719
  4,968
  5,228
  5,501
  5,786
  6,086
  6,400
  6,729
  7,074
  7,435
  7,815
  8,213
  8,630
  9,068
  9,528
  10,010
  10,516
  11,047
  11,604
  12,189
  12,803
  13,447
  14,123
  14,833
  15,578
Variable operating expenses, $m
 
  2,814
  2,962
  3,116
  3,278
  3,447
  3,624
  3,809
  4,003
  4,207
  4,420
  4,540
  4,774
  5,020
  5,277
  5,547
  5,830
  6,127
  6,438
  6,765
  7,108
  7,467
  7,845
  8,241
  8,657
  9,093
  9,551
  10,032
  10,536
  11,066
  11,622
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
  2,495
  2,814
  2,962
  3,116
  3,278
  3,447
  3,624
  3,809
  4,003
  4,207
  4,420
  4,540
  4,774
  5,020
  5,277
  5,547
  5,830
  6,127
  6,438
  6,765
  7,108
  7,467
  7,845
  8,241
  8,657
  9,093
  9,551
  10,032
  10,536
  11,066
  11,622
Operating income, $m
  948
  820
  870
  922
  977
  1,035
  1,095
  1,158
  1,225
  1,294
  1,366
  1,546
  1,625
  1,709
  1,797
  1,889
  1,985
  2,086
  2,192
  2,303
  2,420
  2,542
  2,671
  2,806
  2,947
  3,096
  3,252
  3,415
  3,587
  3,768
  3,957
EBITDA, $m
  1,847
  1,825
  1,925
  2,029
  2,138
  2,252
  2,371
  2,496
  2,627
  2,764
  2,907
  3,058
  3,215
  3,381
  3,554
  3,736
  3,926
  4,126
  4,336
  4,556
  4,787
  5,029
  5,283
  5,550
  5,830
  6,124
  6,432
  6,756
  7,096
  7,452
  7,827
Interest expense (income), $m
  395
  389
  412
  438
  464
  491
  520
  550
  582
  615
  649
  685
  723
  763
  805
  849
  894
  943
  993
  1,046
  1,101
  1,160
  1,221
  1,285
  1,352
  1,423
  1,497
  1,575
  1,657
  1,742
  1,832
Earnings before tax, $m
  523
  430
  457
  485
  514
  544
  575
  608
  643
  679
  717
  860
  902
  946
  992
  1,040
  1,090
  1,143
  1,199
  1,257
  1,319
  1,383
  1,450
  1,521
  1,595
  1,673
  1,755
  1,840
  1,931
  2,025
  2,124
Tax expense, $m
  -31
  116
  124
  131
  139
  147
  155
  164
  174
  183
  194
  232
  244
  255
  268
  281
  294
  309
  324
  339
  356
  373
  392
  411
  431
  452
  474
  497
  521
  547
  574
Net income, $m
  649
  314
  334
  354
  375
  397
  420
  444
  469
  496
  524
  628
  659
  691
  724
  759
  796
  835
  875
  918
  963
  1,009
  1,059
  1,110
  1,164
  1,221
  1,281
  1,344
  1,409
  1,478
  1,551

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  287
  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
  23,167
  24,062
  25,374
  26,745
  28,180
  29,681
  31,253
  32,899
  34,622
  36,428
  38,320
  40,303
  42,381
  44,560
  46,845
  49,241
  51,753
  54,389
  57,154
  60,054
  63,098
  66,291
  69,642
  73,158
  76,848
  80,721
  84,787
  89,053
  93,532
  98,233
  103,168
Adjusted assets (=assets-cash), $m
  22,880
  24,062
  25,374
  26,745
  28,180
  29,681
  31,253
  32,899
  34,622
  36,428
  38,320
  40,303
  42,381
  44,560
  46,845
  49,241
  51,753
  54,389
  57,154
  60,054
  63,098
  66,291
  69,642
  73,158
  76,848
  80,721
  84,787
  89,053
  93,532
  98,233
  103,168
Revenue / Adjusted assets
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
  0.151
Average production assets, $m
  20,021
  21,121
  22,272
  23,476
  24,735
  26,053
  27,433
  28,877
  30,390
  31,975
  33,636
  35,376
  37,201
  39,113
  41,119
  43,222
  45,427
  47,741
  50,167
  52,713
  55,385
  58,188
  61,129
  64,215
  67,455
  70,854
  74,422
  78,168
  82,099
  86,225
  90,557
Working capital, $m
  0
  -302
  -318
  -335
  -353
  -372
  -392
  -412
  -434
  -457
  -480
  -505
  -531
  -558
  -587
  -617
  -649
  -682
  -716
  -753
  -791
  -831
  -873
  -917
  -963
  -1,012
  -1,063
  -1,116
  -1,172
  -1,231
  -1,293
Total debt, $m
  11,127
  11,783
  12,500
  13,251
  14,035
  14,857
  15,716
  16,617
  17,559
  18,547
  19,582
  20,667
  21,804
  22,995
  24,245
  25,556
  26,930
  28,372
  29,884
  31,471
  33,135
  34,882
  36,715
  38,638
  40,657
  42,776
  44,999
  47,333
  49,783
  52,354
  55,054
Total liabilities, $m
  12,506
  13,162
  13,879
  14,630
  15,414
  16,236
  17,095
  17,996
  18,938
  19,926
  20,961
  22,046
  23,183
  24,374
  25,624
  26,935
  28,309
  29,751
  31,263
  32,850
  34,514
  36,261
  38,094
  40,017
  42,036
  44,155
  46,378
  48,712
  51,162
  53,733
  56,433
Total equity, $m
  10,661
  10,900
  11,494
  12,116
  12,766
  13,446
  14,158
  14,903
  15,684
  16,502
  17,359
  18,257
  19,199
  20,186
  21,221
  22,306
  23,444
  24,638
  25,891
  27,205
  28,583
  30,030
  31,548
  33,141
  34,812
  36,567
  38,408
  40,341
  42,370
  44,499
  46,735
Total liabilities and equity, $m
  23,167
  24,062
  25,373
  26,746
  28,180
  29,682
  31,253
  32,899
  34,622
  36,428
  38,320
  40,303
  42,382
  44,560
  46,845
  49,241
  51,753
  54,389
  57,154
  60,055
  63,097
  66,291
  69,642
  73,158
  76,848
  80,722
  84,786
  89,053
  93,532
  98,232
  103,168
Debt-to-equity ratio
  1.044
  1.080
  1.090
  1.090
  1.100
  1.100
  1.110
  1.110
  1.120
  1.120
  1.130
  1.130
  1.140
  1.140
  1.140
  1.150
  1.150
  1.150
  1.150
  1.160
  1.160
  1.160
  1.160
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.180
  1.180
Adjusted equity ratio
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453
  0.453

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  649
  314
  334
  354
  375
  397
  420
  444
  469
  496
  524
  628
  659
  691
  724
  759
  796
  835
  875
  918
  963
  1,009
  1,059
  1,110
  1,164
  1,221
  1,281
  1,344
  1,409
  1,478
  1,551
Depreciation, amort., depletion, $m
  899
  1,006
  1,055
  1,107
  1,160
  1,217
  1,276
  1,337
  1,402
  1,470
  1,541
  1,512
  1,590
  1,672
  1,757
  1,847
  1,941
  2,040
  2,144
  2,253
  2,367
  2,487
  2,612
  2,744
  2,883
  3,028
  3,180
  3,340
  3,508
  3,685
  3,870
Funds from operations, $m
  1,332
  1,320
  1,389
  1,461
  1,535
  1,614
  1,696
  1,782
  1,871
  1,966
  2,064
  2,140
  2,248
  2,362
  2,481
  2,606
  2,737
  2,875
  3,019
  3,171
  3,329
  3,496
  3,671
  3,854
  4,047
  4,249
  4,461
  4,684
  4,918
  5,163
  5,421
Change in working capital, $m
  -35
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -49
  -51
  -53
  -56
  -59
  -62
Cash from operations, $m
  1,367
  1,336
  1,405
  1,478
  1,553
  1,633
  1,715
  1,802
  1,893
  1,988
  2,088
  2,165
  2,274
  2,389
  2,510
  2,636
  2,769
  2,908
  3,054
  3,207
  3,368
  3,536
  3,713
  3,899
  4,093
  4,298
  4,512
  4,738
  4,974
  5,222
  5,483
Maintenance CAPEX, $m
  0
  -856
  -903
  -952
  -1,003
  -1,057
  -1,113
  -1,172
  -1,234
  -1,299
  -1,366
  -1,437
  -1,512
  -1,590
  -1,672
  -1,757
  -1,847
  -1,941
  -2,040
  -2,144
  -2,253
  -2,367
  -2,487
  -2,612
  -2,744
  -2,883
  -3,028
  -3,180
  -3,340
  -3,508
  -3,685
New CAPEX, $m
  -261
  -1,101
  -1,151
  -1,204
  -1,259
  -1,318
  -1,380
  -1,445
  -1,513
  -1,585
  -1,661
  -1,740
  -1,824
  -1,913
  -2,005
  -2,103
  -2,206
  -2,313
  -2,427
  -2,546
  -2,671
  -2,803
  -2,941
  -3,087
  -3,239
  -3,400
  -3,568
  -3,745
  -3,931
  -4,126
  -4,332
Cash from investing activities, $m
  -1,235
  -1,957
  -2,054
  -2,156
  -2,262
  -2,375
  -2,493
  -2,617
  -2,747
  -2,884
  -3,027
  -3,177
  -3,336
  -3,503
  -3,677
  -3,860
  -4,053
  -4,254
  -4,467
  -4,690
  -4,924
  -5,170
  -5,428
  -5,699
  -5,983
  -6,283
  -6,596
  -6,925
  -7,271
  -7,634
  -8,017
Free cash flow, $m
  132
  -621
  -648
  -678
  -709
  -742
  -778
  -815
  -854
  -895
  -939
  -1,013
  -1,062
  -1,113
  -1,167
  -1,224
  -1,284
  -1,347
  -1,413
  -1,483
  -1,556
  -1,634
  -1,715
  -1,800
  -1,890
  -1,985
  -2,084
  -2,188
  -2,298
  -2,413
  -2,534
Issuance/(repayment) of debt, $m
  -165
  656
  717
  750
  785
  821
  860
  900
  943
  988
  1,035
  1,085
  1,137
  1,192
  1,250
  1,311
  1,374
  1,442
  1,512
  1,587
  1,665
  1,747
  1,833
  1,923
  2,019
  2,119
  2,224
  2,334
  2,450
  2,571
  2,699
Issuance/(repurchase) of shares, $m
  1,287
  212
  260
  267
  275
  283
  292
  301
  311
  322
  333
  270
  283
  297
  311
  326
  342
  359
  377
  396
  416
  437
  459
  483
  507
  533
  561
  589
  619
  651
  685
Cash from financing (excl. dividends), $m  
  1,127
  868
  977
  1,017
  1,060
  1,104
  1,152
  1,201
  1,254
  1,310
  1,368
  1,355
  1,420
  1,489
  1,561
  1,637
  1,716
  1,801
  1,889
  1,983
  2,081
  2,184
  2,292
  2,406
  2,526
  2,652
  2,785
  2,923
  3,069
  3,222
  3,384
Total cash flow (excl. dividends), $m
  1,259
  248
  329
  340
  350
  362
  374
  387
  400
  414
  429
  342
  358
  375
  394
  413
  433
  454
  476
  500
  524
  550
  577
  606
  636
  667
  700
  735
  772
  810
  850
Retained Cash Flow (-), $m
  -900
  -526
  -594
  -621
  -650
  -680
  -712
  -746
  -781
  -818
  -857
  -898
  -942
  -987
  -1,035
  -1,085
  -1,138
  -1,194
  -1,252
  -1,314
  -1,379
  -1,447
  -1,518
  -1,593
  -1,672
  -1,755
  -1,841
  -1,933
  -2,029
  -2,130
  -2,235
Prev. year cash balance distribution, $m
 
  287
  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
 
  9
  -265
  -282
  -299
  -318
  -338
  -359
  -381
  -404
  -428
  -557
  -583
  -612
  -641
  -673
  -705
  -740
  -776
  -814
  -854
  -896
  -941
  -987
  -1,036
  -1,087
  -1,141
  -1,198
  -1,257
  -1,320
  -1,385
Discount rate, %
 
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
 
  8
  -223
  -215
  -205
  -194
  -181
  -167
  -153
  -138
  -122
  -132
  -112
  -95
  -78
  -64
  -51
  -40
  -30
  -23
  -17
  -12
  -8
  -6
  -4
  -2
  -1
  -1
  -1
  0
  0
Current shareholders' claim on cash, %
  100
  99.1
  98.0
  96.9
  95.9
  94.9
  93.9
  93.0
  92.1
  91.2
  90.4
  89.7
  89.1
  88.4
  87.8
  87.2
  86.5
  85.9
  85.3
  84.7
  84.1
  83.5
  82.9
  82.3
  81.7
  81.2
  80.6
  80.0
  79.4
  78.9
  78.3

Ventas, Inc. is a real estate investment trust (REIT) with its properties located throughout the United States, Canada and the United Kingdom. The Company operates through three segments: triple-net leased properties, senior living operations and office operations. Under its triple-net leased properties segment, the Company invests in and owns seniors housing and healthcare properties throughout the United States and the United Kingdom and leases those properties to healthcare operating companies under triple-net or absolute-net leases that obligate the tenants to pay all property-related expenses. In its senior living operations segment, it invests in seniors housing communities throughout the United States and Canada and engages independent operators to manage those communities. In its office operations segment, the Company primarily acquires, owns, develops, leases and manages medical office buildings (MOBs) and life science and innovation centers throughout the United States.

FINANCIAL RATIOS  of  Ventas (VTR)

Valuation Ratios
P/E Ratio 34.8
Price to Sales 6.6
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 16.5
Price to Free Cash Flow 20.4
Growth Rates
Sales Growth Rate 4.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15%
Cap. Spend. - 3 Yr. Gr. Rate 8.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 104.4%
Total Debt to Equity 104.4%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.7%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 3%
Ret/ On T. Cap. - 3 Yr. Avg. 2.5%
Return On Equity 6.4%
Return On Equity - 3 Yr. Avg. 5.4%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 58.1%
Gross Margin - 3 Yr. Avg. 57.2%
EBITDA Margin 52.8%
EBITDA Margin - 3 Yr. Avg. 53.5%
Operating Margin 27.6%
Oper. Margin - 3 Yr. Avg. 24.7%
Pre-Tax Margin 15.2%
Pre-Tax Margin - 3 Yr. Avg. 12.8%
Net Profit Margin 18.8%
Net Profit Margin - 3 Yr. Avg. 16.2%
Effective Tax Rate -5.9%
Eff/ Tax Rate - 3 Yr. Avg. -6.5%
Payout Ratio 157.9%

VTR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VTR stock intrinsic value calculation we used $3444 million for the last fiscal year's total revenue generated by Ventas. The default revenue input number comes from 2016 income statement of Ventas. 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 VTR stock valuation model: a) initial revenue growth rate of 5.5% 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 8.6%, whose default value for VTR is calculated based on our internal credit rating of Ventas, 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 Ventas.
    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 VTR stock the variable cost ratio is equal to 77.6%.

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 VTR 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 Ventas.

Corporate tax rate of 27% is the nominal tax rate for Ventas. 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 VTR 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 VTR are equal to 581.3%.

Life of production assets of 23.4 years is the average useful life of capital assets used in Ventas 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 VTR is equal to -8.3%. 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 - $10661 million for Ventas - 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 356.19 million for Ventas 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 Ventas at the current share price and the inputted number of shares is $22.7 billion.

RELATED COMPANIES Price Int.Val. Rating
HCN Welltower 66.41 9.99  str.sell
BKD Brookdale Seni 10.05 1.84  str.sell
NHI National Healt 79.75 7.39  str.sell
DOC Physicians Rea 18.46 2.43  str.sell
CSU Capital Senior 14.64 0.96  str.sell
UHT Universal Heal 76.70 3.52  str.sell
KND Kindred Health 8.55 10.13  str.buy
HLS HealthSouth 49.77 55.30  hold
HCP HCP 26.97 2.94  str.sell

COMPANY NEWS

▶ Ventas Increases Fourth Quarter 2017 Dividend   [Dec-11-17 04:34PM  Business Wire]
▶ NYSE Top Real Estate Dividend Paying Stocks   [Nov-06-17 10:02AM  Simply Wall St.]
▶ No, the housing market isnt experiencing a Trump bump   [Nov-02-17 10:51AM  Yahoo Finance Video]
▶ Ventas reports 3Q results   [07:13AM  Associated Press]
▶ Ventas Reports 2017 Third Quarter Results   [06:56AM  Business Wire]
▶ 3 'Commission-Free' 5%+ Yields To Buy Now   [Oct-10-17 09:16AM  Forbes]
▶ In Your 40s? 3 Stocks You Should Consider Buying   [Oct-09-17 10:04AM  Motley Fool]
▶ Is Welltower Inc a Buy?   [Oct-03-17 06:31AM  Motley Fool]
▶ [$$] Three REITs Worth an Upgrade   [02:56PM  Barrons.com]
▶ How Ventass Dividend Yield Compares   [11:15AM  Market Realist]
▶ 3 Stocks You Can Keep Forever   [08:33AM  Motley Fool]
▶ Where Trump sees carnage, jobs are springing up   [10:19AM  Yahoo Finance Video]
▶ Ventas Medical REIT: Cramer's Top Takeaways   [06:25AM  TheStreet.com]
▶ Kindred Healthcare sells skilled-nursing facilities for $519 million   [Sep-01-17 11:25AM  American City Business Journals]
▶ PNC Appoints Debra A. Cafaro To Board Of Directors   [Aug-10-17 04:19PM  PR Newswire]
▶ Good, Bad And Ugly REITs   [04:02AM  Forbes]
▶ Welltower Compared to Other Industry Players after 2Q17   [Aug-04-17 09:07AM  Market Realist]
▶ How Welltower Fared in Terms of Cost Control in 2Q17   [Aug-02-17 08:57AM  Market Realist]
▶ Welltowers Main Revenue Drivers in 2Q17   [08:57AM  Market Realist]
▶ How Did Welltower Do in I2Q17 Results?   [08:57AM  Market Realist]
▶ Ventas reports 2Q results   [Jul-28-17 10:26PM  Associated Press]
▶ Ventas Reports 2017 Second Quarter Results   [07:09AM  Business Wire]
▶ ETFs with exposure to Ventas, Inc. : July 25, 2017   [Jul-25-17 02:06PM  Capital Cube]
▶ How Does Wall Street Rate Welltower among Healthcare REITs?   [Jul-19-17 09:06AM  Market Realist]
▶ How Well Does Welltower Return Value to Its Shareholders?   [Jul-18-17 09:06AM  Market Realist]
▶ Kindred in deal to sell business segment, gain $910 million   [Jul-17-17 06:00PM  American City Business Journals]
▶ ETFs with exposure to Ventas, Inc. : July 14, 2017   [Jul-14-17 05:32PM  Capital Cube]
▶ 3 Stocks to Add to Your Social Security Income   [Jul-07-17 02:02PM  Motley Fool]
▶ Kindred Sells Skilled Nursing Facility Business for $700M   [Jul-03-17 08:14PM  TheStreet.com]
▶ Ventas to Participate in NAREIT REITWeek 2017 Conference   [Jun-06-17 06:57AM  Business Wire]
▶ Better Buy: HCP, Inc. vs. Ventas   [Apr-28-17 03:51PM  Motley Fool]
Financial statements of VTR
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.