Intrinsic value of Whirlpool - WHR

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$185.68

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$185.68

 
Intrinsic value

$184.46

 
Up/down potential

-1%

 
Rating

hold

 
Value-price divergence* premium content

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

We calculate the intrinsic value of WHR 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 13.9

 

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, %
  -0.83
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  20,718
  21,132
  21,618
  22,174
  22,798
  23,489
  24,247
  25,073
  25,967
  26,930
  27,963
  29,069
  30,249
  31,505
  32,840
  34,257
  35,758
  37,347
  39,028
  40,803
  42,678
  44,656
  46,742
  48,941
  51,258
  53,699
  56,268
  58,972
  61,818
  64,812
  67,961
Variable operating expenses, $m
 
  19,837
  20,287
  20,801
  21,377
  22,017
  22,718
  23,481
  24,308
  25,199
  26,154
  26,881
  27,972
  29,134
  30,368
  31,678
  33,066
  34,536
  36,090
  37,732
  39,466
  41,295
  43,224
  45,258
  47,400
  49,657
  52,033
  54,534
  57,165
  59,934
  62,846
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
  19,364
  19,837
  20,287
  20,801
  21,377
  22,017
  22,718
  23,481
  24,308
  25,199
  26,154
  26,881
  27,972
  29,134
  30,368
  31,678
  33,066
  34,536
  36,090
  37,732
  39,466
  41,295
  43,224
  45,258
  47,400
  49,657
  52,033
  54,534
  57,165
  59,934
  62,846
Operating income, $m
  1,354
  1,295
  1,332
  1,373
  1,420
  1,472
  1,529
  1,592
  1,659
  1,731
  1,809
  2,188
  2,277
  2,371
  2,472
  2,578
  2,691
  2,811
  2,938
  3,071
  3,212
  3,361
  3,518
  3,684
  3,858
  4,042
  4,235
  4,439
  4,653
  4,878
  5,115
EBITDA, $m
  2,009
  2,047
  2,094
  2,148
  2,209
  2,276
  2,349
  2,429
  2,516
  2,609
  2,709
  2,816
  2,930
  3,052
  3,181
  3,319
  3,464
  3,618
  3,781
  3,953
  4,134
  4,326
  4,528
  4,741
  4,966
  5,202
  5,451
  5,713
  5,989
  6,279
  6,584
Interest expense (income), $m
  198
  182
  195
  210
  228
  247
  269
  292
  318
  346
  376
  409
  443
  480
  519
  561
  605
  652
  702
  754
  810
  869
  930
  996
  1,064
  1,137
  1,213
  1,293
  1,378
  1,467
  1,561
Earnings before tax, $m
  1,114
  1,113
  1,137
  1,163
  1,193
  1,225
  1,261
  1,299
  1,341
  1,385
  1,433
  1,779
  1,834
  1,891
  1,953
  2,017
  2,086
  2,159
  2,236
  2,317
  2,402
  2,493
  2,588
  2,688
  2,794
  2,905
  3,022
  3,145
  3,275
  3,411
  3,555
Tax expense, $m
  186
  300
  307
  314
  322
  331
  340
  351
  362
  374
  387
  480
  495
  511
  527
  545
  563
  583
  604
  626
  649
  673
  699
  726
  754
  784
  816
  849
  884
  921
  960
Net income, $m
  888
  812
  830
  849
  871
  895
  920
  948
  979
  1,011
  1,046
  1,299
  1,339
  1,381
  1,425
  1,473
  1,523
  1,576
  1,632
  1,691
  1,754
  1,820
  1,889
  1,962
  2,039
  2,121
  2,206
  2,296
  2,391
  2,490
  2,595

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,085
  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
  19,153
  18,424
  18,848
  19,332
  19,876
  20,479
  21,140
  21,860
  22,639
  23,479
  24,380
  25,344
  26,372
  27,467
  28,631
  29,866
  31,175
  32,561
  34,026
  35,574
  37,208
  38,933
  40,752
  42,669
  44,689
  46,817
  49,057
  51,414
  53,895
  56,506
  59,251
Adjusted assets (=assets-cash), $m
  18,068
  18,424
  18,848
  19,332
  19,876
  20,479
  21,140
  21,860
  22,639
  23,479
  24,380
  25,344
  26,372
  27,467
  28,631
  29,866
  31,175
  32,561
  34,026
  35,574
  37,208
  38,933
  40,752
  42,669
  44,689
  46,817
  49,057
  51,414
  53,895
  56,506
  59,251
Revenue / Adjusted assets
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
  1.147
Average production assets, $m
  6,407
  6,530
  6,680
  6,852
  7,045
  7,258
  7,492
  7,748
  8,024
  8,321
  8,641
  8,982
  9,347
  9,735
  10,148
  10,585
  11,049
  11,540
  12,060
  12,608
  13,187
  13,799
  14,443
  15,123
  15,839
  16,593
  17,387
  18,222
  19,102
  20,027
  21,000
Working capital, $m
  -323
  -824
  -843
  -865
  -889
  -916
  -946
  -978
  -1,013
  -1,050
  -1,091
  -1,134
  -1,180
  -1,229
  -1,281
  -1,336
  -1,395
  -1,457
  -1,522
  -1,591
  -1,664
  -1,742
  -1,823
  -1,909
  -1,999
  -2,094
  -2,194
  -2,300
  -2,411
  -2,528
  -2,650
Total debt, $m
  4,470
  4,148
  4,471
  4,840
  5,255
  5,715
  6,220
  6,769
  7,364
  8,004
  8,692
  9,427
  10,212
  11,048
  11,936
  12,878
  13,877
  14,934
  16,052
  17,233
  18,480
  19,796
  21,184
  22,647
  24,188
  25,811
  27,520
  29,319
  31,212
  33,204
  35,298
Total liabilities, $m
  14,380
  14,058
  14,381
  14,750
  15,165
  15,625
  16,130
  16,679
  17,274
  17,914
  18,602
  19,337
  20,122
  20,958
  21,846
  22,788
  23,787
  24,844
  25,962
  27,143
  28,390
  29,706
  31,094
  32,557
  34,098
  35,721
  37,430
  39,229
  41,122
  43,114
  45,208
Total equity, $m
  4,773
  4,366
  4,467
  4,582
  4,711
  4,853
  5,010
  5,181
  5,365
  5,564
  5,778
  6,006
  6,250
  6,510
  6,786
  7,078
  7,389
  7,717
  8,064
  8,431
  8,818
  9,227
  9,658
  10,113
  10,591
  11,096
  11,626
  12,185
  12,773
  13,392
  14,042
Total liabilities and equity, $m
  19,153
  18,424
  18,848
  19,332
  19,876
  20,478
  21,140
  21,860
  22,639
  23,478
  24,380
  25,343
  26,372
  27,468
  28,632
  29,866
  31,176
  32,561
  34,026
  35,574
  37,208
  38,933
  40,752
  42,670
  44,689
  46,817
  49,056
  51,414
  53,895
  56,506
  59,250
Debt-to-equity ratio
  0.937
  0.950
  1.000
  1.060
  1.120
  1.180
  1.240
  1.310
  1.370
  1.440
  1.500
  1.570
  1.630
  1.700
  1.760
  1.820
  1.880
  1.940
  1.990
  2.040
  2.100
  2.150
  2.190
  2.240
  2.280
  2.330
  2.370
  2.410
  2.440
  2.480
  2.510
Adjusted equity ratio
  0.206
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  888
  812
  830
  849
  871
  895
  920
  948
  979
  1,011
  1,046
  1,299
  1,339
  1,381
  1,425
  1,473
  1,523
  1,576
  1,632
  1,691
  1,754
  1,820
  1,889
  1,962
  2,039
  2,121
  2,206
  2,296
  2,391
  2,490
  2,595
Depreciation, amort., depletion, $m
  655
  752
  763
  775
  788
  803
  820
  837
  857
  878
  900
  628
  654
  681
  710
  740
  773
  807
  843
  882
  922
  965
  1,010
  1,058
  1,108
  1,160
  1,216
  1,274
  1,336
  1,400
  1,469
Funds from operations, $m
  939
  1,565
  1,592
  1,624
  1,659
  1,698
  1,740
  1,786
  1,835
  1,889
  1,946
  1,927
  1,992
  2,061
  2,135
  2,213
  2,296
  2,383
  2,475
  2,573
  2,676
  2,785
  2,899
  3,020
  3,147
  3,281
  3,422
  3,570
  3,726
  3,891
  4,063
Change in working capital, $m
  -264
  -16
  -19
  -22
  -24
  -27
  -30
  -32
  -35
  -38
  -40
  -43
  -46
  -49
  -52
  -55
  -59
  -62
  -66
  -69
  -73
  -77
  -81
  -86
  -90
  -95
  -100
  -105
  -111
  -117
  -123
Cash from operations, $m
  1,203
  1,536
  1,611
  1,646
  1,683
  1,725
  1,770
  1,818
  1,870
  1,926
  1,986
  1,970
  2,038
  2,110
  2,187
  2,268
  2,354
  2,445
  2,541
  2,642
  2,749
  2,862
  2,980
  3,106
  3,237
  3,376
  3,522
  3,676
  3,837
  4,007
  4,186
Maintenance CAPEX, $m
  0
  -448
  -457
  -467
  -479
  -493
  -508
  -524
  -542
  -561
  -582
  -604
  -628
  -654
  -681
  -710
  -740
  -773
  -807
  -843
  -882
  -922
  -965
  -1,010
  -1,058
  -1,108
  -1,160
  -1,216
  -1,274
  -1,336
  -1,400
New CAPEX, $m
  -660
  -123
  -150
  -172
  -193
  -214
  -234
  -255
  -276
  -298
  -319
  -342
  -365
  -388
  -413
  -438
  -464
  -491
  -519
  -549
  -579
  -611
  -645
  -679
  -716
  -754
  -794
  -836
  -879
  -925
  -973
Cash from investing activities, $m
  -588
  -571
  -607
  -639
  -672
  -707
  -742
  -779
  -818
  -859
  -901
  -946
  -993
  -1,042
  -1,094
  -1,148
  -1,204
  -1,264
  -1,326
  -1,392
  -1,461
  -1,533
  -1,610
  -1,689
  -1,774
  -1,862
  -1,954
  -2,052
  -2,153
  -2,261
  -2,373
Free cash flow, $m
  615
  965
  1,005
  1,007
  1,011
  1,018
  1,028
  1,039
  1,052
  1,068
  1,085
  1,024
  1,046
  1,069
  1,094
  1,121
  1,150
  1,181
  1,215
  1,250
  1,288
  1,328
  1,371
  1,416
  1,464
  1,514
  1,568
  1,624
  1,684
  1,747
  1,813
Issuance/(repayment) of debt, $m
  545
  272
  323
  370
  415
  460
  504
  549
  595
  641
  687
  736
  785
  836
  888
  942
  999
  1,057
  1,118
  1,181
  1,247
  1,316
  1,388
  1,463
  1,541
  1,623
  1,709
  1,799
  1,893
  1,992
  2,095
Issuance/(repurchase) of shares, $m
  -499
  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  
  16
  272
  323
  370
  415
  460
  504
  549
  595
  641
  687
  736
  785
  836
  888
  942
  999
  1,057
  1,118
  1,181
  1,247
  1,316
  1,388
  1,463
  1,541
  1,623
  1,709
  1,799
  1,893
  1,992
  2,095
Total cash flow (excl. dividends), $m
  607
  1,236
  1,328
  1,376
  1,426
  1,478
  1,532
  1,588
  1,647
  1,708
  1,772
  1,760
  1,830
  1,904
  1,982
  2,063
  2,149
  2,238
  2,332
  2,431
  2,535
  2,644
  2,759
  2,879
  3,005
  3,138
  3,277
  3,423
  3,577
  3,738
  3,907
Retained Cash Flow (-), $m
  -30
  -84
  -100
  -115
  -129
  -143
  -157
  -171
  -185
  -199
  -214
  -228
  -244
  -260
  -276
  -293
  -310
  -328
  -347
  -367
  -387
  -409
  -431
  -454
  -479
  -504
  -531
  -559
  -588
  -619
  -651
Prev. year cash balance distribution, $m
 
  491
  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
 
  1,643
  1,228
  1,262
  1,297
  1,335
  1,375
  1,418
  1,462
  1,509
  1,559
  1,531
  1,587
  1,645
  1,706
  1,771
  1,838
  1,910
  1,985
  2,064
  2,148
  2,235
  2,328
  2,425
  2,526
  2,634
  2,746
  2,864
  2,989
  3,120
  3,257
Discount rate, %
 
  5.50
  5.78
  6.06
  6.37
  6.69
  7.02
  7.37
  7.74
  8.13
  8.53
  8.96
  9.41
  9.88
  10.37
  10.89
  11.43
  12.01
  12.61
  13.24
  13.90
  14.59
  15.32
  16.09
  16.89
  17.74
  18.62
  19.56
  20.53
  21.56
  22.64
PV of cash for distribution, $m
 
  1,557
  1,097
  1,057
  1,014
  966
  915
  862
  805
  747
  687
  596
  539
  483
  429
  376
  325
  278
  234
  195
  159
  128
  101
  78
  60
  44
  32
  23
  16
  11
  7
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

Whirlpool Corporation manufactures and markets home appliances and related products worldwide. The company’s principal products include laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other small domestic appliances. It also produces hermetic compressors for refrigeration systems. The company markets and distributes its products under the Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Roper, Admiral, Inglis, Estate, Affresh, Acros, Supermatic, Bauknecht, Laden, Indesit, Privileg, KIC, Hotpoint-Ariston, Hotpoint, Consul, Brastemp, Diqua, and Gladiator brands. Whirlpool Corporation sells its products to retailers, distributors, dealers, builders, and other manufacturers. The company was founded in 1898 and is headquartered in Benton Harbor, Michigan.

FINANCIAL RATIOS  of  Whirlpool (WHR)

Valuation Ratios
P/E Ratio 15.5
Price to Sales 0.7
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 11.4
Price to Free Cash Flow 25.3
Growth Rates
Sales Growth Rate -0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.2%
Cap. Spend. - 3 Yr. Gr. Rate 2.7%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 81.2%
Total Debt to Equity 93.7%
Interest Coverage 7
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 4.9%
Return On Total Capital 9.9%
Ret/ On T. Cap. - 3 Yr. Avg. 8.8%
Return On Equity 18.7%
Return On Equity - 3 Yr. Avg. 16.1%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 17.8%
Gross Margin - 3 Yr. Avg. 17.5%
EBITDA Margin 9.5%
EBITDA Margin - 3 Yr. Avg. 8.9%
Operating Margin 6.5%
Oper. Margin - 3 Yr. Avg. 6.2%
Pre-Tax Margin 5.4%
Pre-Tax Margin - 3 Yr. Avg. 4.9%
Net Profit Margin 4.3%
Net Profit Margin - 3 Yr. Avg. 3.8%
Effective Tax Rate 16.7%
Eff/ Tax Rate - 3 Yr. Avg. 19.5%
Payout Ratio 33.1%

WHR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WHR stock intrinsic value calculation we used $20718 million for the last fiscal year's total revenue generated by Whirlpool. The default revenue input number comes from 2016 income statement of Whirlpool. 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 WHR stock valuation model: a) initial revenue growth rate of 2% 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 5.5%, whose default value for WHR is calculated based on our internal credit rating of Whirlpool, 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 Whirlpool.
    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 WHR stock the variable cost ratio is equal to 93.9%.

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 WHR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.7% for Whirlpool.

Corporate tax rate of 27% is the nominal tax rate for Whirlpool. 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 WHR 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 WHR are equal to 30.9%.

Life of production assets of 14.3 years is the average useful life of capital assets used in Whirlpool 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 WHR is equal to -3.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4773 million for Whirlpool - 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 75.001 million for Whirlpool 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 Whirlpool at the current share price and the inputted number of shares is $13.9 billion.


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Stock chart of WHR Financial statements of WHR
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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