Intrinsic value of Ventas - VTR

Previous Close

$66.59

  Intrinsic Value

$6.82

stock screener

  Rating & Target

str. sell

-90%

  Value-price divergence*

+8%

Previous close

$66.59

 
Intrinsic value

$6.82

 
Up/down potential

-90%

 
Rating

str. sell

 
Value-price divergence*

+8%

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

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

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 23.5

 

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
  3.60
  3.74
  3.87
  3.98
  4.08
  4.17
  4.26
  4.33
  4.40
  4.46
  4.51
  4.56
  4.60
  4.64
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.93
Revenue, $m
  3,444
  3,568
  3,701
  3,845
  3,998
  4,161
  4,334
  4,519
  4,714
  4,922
  5,141
  5,373
  5,618
  5,877
  6,150
  6,438
  6,741
  7,060
  7,397
  7,751
  8,124
  8,517
  8,929
  9,364
  9,820
  10,300
  10,805
  11,335
  11,893
  12,479
  13,094
Variable operating expenses, $m
 
  2,765
  2,865
  2,971
  3,085
  3,207
  3,337
  3,474
  3,620
  3,775
  3,939
  4,008
  4,191
  4,384
  4,588
  4,802
  5,029
  5,267
  5,518
  5,783
  6,061
  6,353
  6,661
  6,985
  7,326
  7,684
  8,060
  8,456
  8,872
  9,309
  9,769
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
  2,765
  2,865
  2,971
  3,085
  3,207
  3,337
  3,474
  3,620
  3,775
  3,939
  4,008
  4,191
  4,384
  4,588
  4,802
  5,029
  5,267
  5,518
  5,783
  6,061
  6,353
  6,661
  6,985
  7,326
  7,684
  8,060
  8,456
  8,872
  9,309
  9,769
Operating income, $m
  948
  803
  837
  873
  912
  953
  998
  1,044
  1,094
  1,147
  1,203
  1,365
  1,427
  1,493
  1,562
  1,635
  1,712
  1,793
  1,879
  1,969
  2,064
  2,163
  2,268
  2,378
  2,494
  2,616
  2,744
  2,879
  3,021
  3,170
  3,326
EBITDA, $m
  1,847
  1,793
  1,860
  1,932
  2,008
  2,090
  2,178
  2,270
  2,369
  2,473
  2,583
  2,700
  2,823
  2,953
  3,090
  3,234
  3,387
  3,547
  3,716
  3,894
  4,082
  4,279
  4,486
  4,704
  4,934
  5,175
  5,428
  5,695
  5,975
  6,269
  6,579
Interest expense (income), $m
  395
  389
  404
  421
  439
  459
  479
  501
  525
  549
  576
  604
  633
  664
  697
  731
  768
  806
  847
  890
  935
  982
  1,032
  1,084
  1,139
  1,197
  1,258
  1,322
  1,389
  1,460
  1,534
Earnings before tax, $m
  523
  414
  433
  452
  473
  495
  518
  543
  569
  597
  627
  761
  794
  829
  865
  904
  944
  987
  1,032
  1,079
  1,129
  1,181
  1,236
  1,294
  1,355
  1,419
  1,487
  1,557
  1,632
  1,710
  1,792
Tax expense, $m
  -31
  112
  117
  122
  128
  134
  140
  147
  154
  161
  169
  206
  214
  224
  234
  244
  255
  266
  279
  291
  305
  319
  334
  349
  366
  383
  401
  421
  441
  462
  484
Net income, $m
  649
  302
  316
  330
  345
  361
  378
  397
  416
  436
  458
  556
  580
  605
  632
  660
  689
  720
  753
  788
  824
  862
  903
  945
  989
  1,036
  1,085
  1,137
  1,191
  1,248
  1,308

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
  23,629
  24,513
  25,460
  26,474
  27,554
  28,704
  29,926
  31,222
  32,594
  34,047
  35,584
  37,206
  38,920
  40,727
  42,633
  44,642
  46,758
  48,987
  51,333
  53,803
  56,401
  59,135
  62,010
  65,034
  68,213
  71,555
  75,068
  78,760
  82,641
  86,718
Adjusted assets (=assets-cash), $m
  22,880
  23,629
  24,513
  25,460
  26,474
  27,554
  28,704
  29,926
  31,222
  32,594
  34,047
  35,584
  37,206
  38,920
  40,727
  42,633
  44,642
  46,758
  48,987
  51,333
  53,803
  56,401
  59,135
  62,010
  65,034
  68,213
  71,555
  75,068
  78,760
  82,641
  86,718
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
  20,741
  21,516
  22,348
  23,238
  24,186
  25,195
  26,268
  27,405
  28,610
  29,886
  31,234
  32,658
  34,162
  35,749
  37,422
  39,185
  41,043
  42,999
  45,058
  47,226
  49,507
  51,907
  54,430
  57,084
  59,875
  62,808
  65,892
  69,133
  72,539
  76,118
Working capital, $m
  0
  -296
  -307
  -319
  -332
  -345
  -360
  -375
  -391
  -409
  -427
  -446
  -466
  -488
  -510
  -534
  -559
  -586
  -614
  -643
  -674
  -707
  -741
  -777
  -815
  -855
  -897
  -941
  -987
  -1,036
  -1,087
Total debt, $m
  11,127
  11,546
  12,029
  12,548
  13,102
  13,693
  14,322
  14,990
  15,699
  16,450
  17,245
  18,085
  18,973
  19,910
  20,899
  21,941
  23,040
  24,198
  25,417
  26,700
  28,051
  29,473
  30,968
  32,541
  34,194
  35,933
  37,762
  39,683
  41,703
  43,825
  46,056
Total liabilities, $m
  12,506
  12,925
  13,408
  13,927
  14,481
  15,072
  15,701
  16,369
  17,078
  17,829
  18,624
  19,464
  20,352
  21,289
  22,278
  23,320
  24,419
  25,577
  26,796
  28,079
  29,430
  30,852
  32,347
  33,920
  35,573
  37,312
  39,141
  41,062
  43,082
  45,204
  47,435
Total equity, $m
  10,661
  10,704
  11,104
  11,534
  11,993
  12,482
  13,003
  13,556
  14,143
  14,765
  15,423
  16,119
  16,855
  17,631
  18,449
  19,313
  20,223
  21,181
  22,191
  23,254
  24,373
  25,550
  26,788
  28,091
  29,460
  30,900
  32,414
  34,006
  35,678
  37,436
  39,283
Total liabilities and equity, $m
  23,167
  23,629
  24,512
  25,461
  26,474
  27,554
  28,704
  29,925
  31,221
  32,594
  34,047
  35,583
  37,207
  38,920
  40,727
  42,633
  44,642
  46,758
  48,987
  51,333
  53,803
  56,402
  59,135
  62,011
  65,033
  68,212
  71,555
  75,068
  78,760
  82,640
  86,718
Debt-to-equity ratio
  1.044
  1.080
  1.080
  1.090
  1.090
  1.100
  1.100
  1.110
  1.110
  1.110
  1.120
  1.120
  1.130
  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
  1.160
  1.170
  1.170
  1.170
  1.170
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
  302
  316
  330
  345
  361
  378
  397
  416
  436
  458
  556
  580
  605
  632
  660
  689
  720
  753
  788
  824
  862
  903
  945
  989
  1,036
  1,085
  1,137
  1,191
  1,248
  1,308
Depreciation, amort., depletion, $m
  899
  990
  1,023
  1,058
  1,096
  1,137
  1,180
  1,226
  1,274
  1,326
  1,380
  1,335
  1,396
  1,460
  1,528
  1,599
  1,675
  1,754
  1,838
  1,926
  2,018
  2,116
  2,218
  2,326
  2,439
  2,559
  2,684
  2,816
  2,954
  3,100
  3,253
Funds from operations, $m
  1,332
  1,292
  1,339
  1,388
  1,442
  1,498
  1,558
  1,622
  1,690
  1,762
  1,838
  1,890
  1,975
  2,065
  2,159
  2,259
  2,364
  2,474
  2,591
  2,713
  2,842
  2,978
  3,121
  3,271
  3,429
  3,595
  3,769
  3,953
  4,146
  4,348
  4,561
Change in working capital, $m
  -35
  -10
  -11
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -49
  -51
Cash from operations, $m
  1,367
  1,302
  1,350
  1,400
  1,454
  1,512
  1,573
  1,638
  1,706
  1,779
  1,856
  1,910
  1,996
  2,086
  2,182
  2,283
  2,389
  2,501
  2,619
  2,743
  2,873
  3,011
  3,155
  3,307
  3,467
  3,635
  3,811
  3,997
  4,192
  4,397
  4,612
Maintenance CAPEX, $m
  0
  -856
  -886
  -920
  -955
  -993
  -1,034
  -1,077
  -1,123
  -1,171
  -1,223
  -1,277
  -1,335
  -1,396
  -1,460
  -1,528
  -1,599
  -1,675
  -1,754
  -1,838
  -1,926
  -2,018
  -2,116
  -2,218
  -2,326
  -2,439
  -2,559
  -2,684
  -2,816
  -2,954
  -3,100
New CAPEX, $m
  -261
  -720
  -776
  -832
  -889
  -948
  -1,009
  -1,072
  -1,137
  -1,205
  -1,275
  -1,348
  -1,424
  -1,504
  -1,587
  -1,673
  -1,763
  -1,858
  -1,956
  -2,060
  -2,168
  -2,281
  -2,400
  -2,524
  -2,654
  -2,790
  -2,934
  -3,084
  -3,241
  -3,406
  -3,579
Cash from investing activities, $m
  -1,235
  -1,576
  -1,662
  -1,752
  -1,844
  -1,941
  -2,043
  -2,149
  -2,260
  -2,376
  -2,498
  -2,625
  -2,759
  -2,900
  -3,047
  -3,201
  -3,362
  -3,533
  -3,710
  -3,898
  -4,094
  -4,299
  -4,516
  -4,742
  -4,980
  -5,229
  -5,493
  -5,768
  -6,057
  -6,360
  -6,679
Free cash flow, $m
  132
  -274
  -312
  -351
  -390
  -430
  -470
  -511
  -554
  -597
  -642
  -716
  -764
  -813
  -865
  -918
  -973
  -1,031
  -1,091
  -1,154
  -1,220
  -1,288
  -1,360
  -1,435
  -1,513
  -1,595
  -1,681
  -1,771
  -1,865
  -1,964
  -2,067
Issuance/(repayment) of debt, $m
  -165
  419
  483
  518
  554
  591
  629
  668
  709
  751
  795
  840
  888
  937
  989
  1,043
  1,099
  1,158
  1,219
  1,283
  1,351
  1,421
  1,495
  1,573
  1,654
  1,739
  1,828
  1,922
  2,020
  2,123
  2,230
Issuance/(repurchase) of shares, $m
  1,287
  28
  84
  99
  114
  128
  143
  157
  171
  186
  201
  140
  156
  171
  187
  204
  221
  238
  256
  275
  295
  315
  336
  358
  380
  404
  429
  454
  481
  510
  539
Cash from financing (excl. dividends), $m  
  1,127
  447
  567
  617
  668
  719
  772
  825
  880
  937
  996
  980
  1,044
  1,108
  1,176
  1,247
  1,320
  1,396
  1,475
  1,558
  1,646
  1,736
  1,831
  1,931
  2,034
  2,143
  2,257
  2,376
  2,501
  2,633
  2,769
Total cash flow (excl. dividends), $m
  1,259
  173
  256
  267
  278
  289
  301
  314
  327
  340
  354
  265
  280
  295
  311
  328
  346
  365
  384
  404
  425
  448
  471
  495
  521
  548
  576
  605
  636
  669
  702
Retained Cash Flow (-), $m
  -900
  -330
  -400
  -429
  -459
  -489
  -521
  -553
  -587
  -622
  -658
  -696
  -735
  -776
  -819
  -863
  -910
  -959
  -1,010
  -1,063
  -1,119
  -1,177
  -1,238
  -1,302
  -1,370
  -1,440
  -1,514
  -1,591
  -1,673
  -1,758
  -1,847
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
 
  130
  -145
  -163
  -181
  -200
  -220
  -240
  -260
  -282
  -305
  -431
  -456
  -481
  -507
  -535
  -564
  -594
  -626
  -659
  -693
  -729
  -767
  -807
  -849
  -892
  -938
  -986
  -1,036
  -1,089
  -1,145
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
 
  120
  -122
  -124
  -124
  -122
  -118
  -112
  -104
  -96
  -87
  -102
  -88
  -74
  -62
  -51
  -41
  -32
  -25
  -18
  -14
  -10
  -7
  -5
  -3
  -2
  -1
  -1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  99.9
  99.5
  99.1
  98.7
  98.2
  97.7
  97.2
  96.6
  96.0
  95.4
  95.1
  94.6
  94.2
  93.8
  93.3
  92.8
  92.3
  91.8
  91.3
  90.8
  90.2
  89.7
  89.2
  88.6
  88.1
  87.5
  87.0
  86.4
  85.9
  85.3

Ventas, Inc. is a publicly owned real estate investment trust. The firm engages in investment, management, financing, and leasing of properties in the healthcare industry. It invests in the real estate markets of the United States and Canada. The firm primarily invests in healthcare-related facilities including hospitals, skilled nursing facilities, senior housing facilities, medical office buildings, and other healthcare related facilities. Ventas, Inc. was founded in 1983 and is based in Chicago, Illinois with additional offices in Irvine, California; Louisville, Kentucky; Charlotte, North Carolina; and Dallas, Texas.

FINANCIAL RATIOS  of  Ventas (VTR)

Valuation Ratios
P/E Ratio 36.3
Price to Sales 6.8
Price to Book 2.2
Price to Tangible Book
Price to Cash Flow 17.3
Price to Free Cash Flow 21.3
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 3.6% 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 352.749 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 $23.5 billion.

RELATED COMPANIES Price Int.Val. Rating
HCN Welltower 72.00 10.12  str.sell
BKD Brookdale Seni 12.38 1.88  str.sell
NHI National Healt 78.69 7.53  str.sell
DOC Physicians Rea 18.11 3.22  str.sell
CSU Capital Senior 11.95 1.00  str.sell
UHT Universal Heal 75.23 3.55  str.sell
KND Kindred Health 7.25 11.18  hold
HLS HealthSouth 44.32 62.69  buy
HCP HCP 29.34 2.94  str.sell

COMPANY NEWS

▶ 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]
▶ Ventas reports 1Q results   [07:18AM  Associated Press]
▶ Ventas Reports 2017 First Quarter Results   [07:01AM  Business Wire]
▶ Squirreling Away REIT Dividends   [Apr-10-17 07:00AM  Forbes]
▶ Ventas Announces Pricing of Senior Notes   [Mar-22-17 04:59PM  Business Wire]
▶ [$$] Deal Close Announcements: March 13-17   [Mar-17-17 05:09PM  The Wall Street Journal]
▶ Brookdale's latest suitor denies potential deal   [Mar-06-17 04:05PM  at bizjournals.com]
▶ 4 High-Yielding REITs For Retirement   [Feb-28-17 07:00AM  at Forbes]
▶ 4 REITs To Help You Sleep Well At Night   [Feb-20-17 07:00AM  at Forbes]
▶ [$$] Ventas In Talks to BuyPart or All of BrookdaleSenior Living   [Feb-16-17 04:52PM  at The Wall Street Journal]
▶ New Senior Is A Diamond In The Rough   [Feb-15-17 07:00AM  at Forbes]
▶ 4 REITs For Retirement   [07:00AM  at Forbes]
▶ Better Buy: HCP, Inc. vs. Ventas   [Feb-06-17 04:45PM  at Motley Fool]
▶ 4 Bargain REITs With 5.0% Yields And Big Upside   [Feb-05-17 08:08AM  at Forbes]
Stock chart of VTR 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.

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