Intrinsic value of 58.com ADR - WUBA

Previous Close

$69.48

  Intrinsic Value

$115.12

stock screener

  Rating & Target

str. buy

+66%

Previous close

$69.48

 
Intrinsic value

$115.12

 
Up/down potential

+66%

 
Rating

str. buy

We calculate the intrinsic value of WUBA 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 10.1

 

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, %
  69.44
  33.50
  30.65
  28.09
  25.78
  23.70
  21.83
  20.15
  18.63
  17.27
  16.04
  14.94
  13.94
  13.05
  12.24
  11.52
  10.87
  10.28
  9.75
  9.28
  8.85
  8.46
  8.12
  7.81
  7.53
  7.27
  7.05
  6.84
  6.66
  6.49
  6.34
Revenue, $m
  1,098
  1,466
  1,915
  2,453
  3,085
  3,816
  4,650
  5,586
  6,627
  7,771
  9,018
  10,365
  11,810
  13,351
  14,986
  16,713
  18,529
  20,434
  22,427
  24,508
  26,676
  28,935
  31,284
  33,726
  36,264
  38,902
  41,643
  44,492
  47,454
  50,534
  53,739
Variable operating expenses, $m
 
  858
  1,051
  1,281
  1,552
  1,865
  2,222
  2,623
  3,069
  3,560
  4,094
  4,441
  5,060
  5,720
  6,421
  7,160
  7,939
  8,755
  9,609
  10,500
  11,429
  12,397
  13,403
  14,449
  15,537
  16,667
  17,841
  19,062
  20,331
  21,651
  23,024
Fixed operating expenses, $m
 
  371
  380
  390
  400
  410
  420
  430
  441
  452
  463
  475
  487
  499
  511
  524
  537
  551
  565
  579
  593
  608
  623
  639
  655
  671
  688
  705
  723
  741
  759
Total operating expenses, $m
  1,053
  1,229
  1,431
  1,671
  1,952
  2,275
  2,642
  3,053
  3,510
  4,012
  4,557
  4,916
  5,547
  6,219
  6,932
  7,684
  8,476
  9,306
  10,174
  11,079
  12,022
  13,005
  14,026
  15,088
  16,192
  17,338
  18,529
  19,767
  21,054
  22,392
  23,783
Operating income, $m
  45
  237
  484
  782
  1,134
  1,542
  2,008
  2,532
  3,117
  3,760
  4,461
  5,449
  6,263
  7,132
  8,054
  9,028
  10,053
  11,128
  12,254
  13,429
  14,654
  15,930
  17,257
  18,638
  20,072
  21,564
  23,114
  24,725
  26,400
  28,143
  29,956
EBITDA, $m
  104
  485
  738
  1,042
  1,402
  1,818
  2,295
  2,831
  3,428
  4,085
  4,801
  5,576
  6,408
  7,296
  8,237
  9,233
  10,280
  11,378
  12,528
  13,729
  14,980
  16,284
  17,640
  19,050
  20,516
  22,040
  23,623
  25,269
  26,980
  28,761
  30,613
Interest expense (income), $m
  0
  1
  11
  23
  37
  54
  73
  96
  121
  149
  179
  213
  249
  287
  328
  372
  418
  467
  518
  571
  627
  685
  745
  808
  873
  941
  1,011
  1,085
  1,161
  1,240
  1,322
Earnings before tax, $m
  -119
  236
  474
  759
  1,097
  1,488
  1,934
  2,437
  2,996
  3,611
  4,282
  5,237
  6,015
  6,845
  7,726
  8,656
  9,635
  10,662
  11,736
  12,858
  14,028
  15,245
  16,512
  17,830
  19,199
  20,623
  22,102
  23,640
  25,239
  26,903
  28,634
Tax expense, $m
  -7
  64
  128
  205
  296
  402
  522
  658
  809
  975
  1,156
  1,414
  1,624
  1,848
  2,086
  2,337
  2,601
  2,879
  3,169
  3,472
  3,787
  4,116
  4,458
  4,814
  5,184
  5,568
  5,968
  6,383
  6,815
  7,264
  7,731
Net income, $m
  -113
  172
  346
  554
  801
  1,086
  1,412
  1,779
  2,187
  2,636
  3,126
  3,823
  4,391
  4,997
  5,640
  6,319
  7,033
  7,783
  8,567
  9,386
  10,240
  11,129
  12,054
  13,016
  14,016
  15,055
  16,135
  17,257
  18,425
  19,639
  20,903

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  298
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,664
  4,496
  5,875
  7,524
  9,464
  11,707
  14,262
  17,136
  20,328
  23,839
  27,663
  31,795
  36,228
  40,955
  45,970
  51,266
  56,837
  62,681
  68,794
  75,177
  81,830
  88,757
  95,962
  103,454
  111,239
  119,330
  127,738
  136,477
  145,563
  155,012
  164,844
Adjusted assets (=assets-cash), $m
  3,366
  4,496
  5,875
  7,524
  9,464
  11,707
  14,262
  17,136
  20,328
  23,839
  27,663
  31,795
  36,228
  40,955
  45,970
  51,266
  56,837
  62,681
  68,794
  75,177
  81,830
  88,757
  95,962
  103,454
  111,239
  119,330
  127,738
  136,477
  145,563
  155,012
  164,844
Revenue / Adjusted assets
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
Average production assets, $m
  404
  538
  703
  900
  1,132
  1,401
  1,706
  2,050
  2,432
  2,852
  3,310
  3,804
  4,334
  4,900
  5,500
  6,134
  6,800
  7,499
  8,231
  8,994
  9,790
  10,619
  11,481
  12,377
  13,309
  14,277
  15,283
  16,328
  17,415
  18,546
  19,722
Working capital, $m
  -407
  -585
  -764
  -979
  -1,231
  -1,523
  -1,855
  -2,229
  -2,644
  -3,101
  -3,598
  -4,136
  -4,712
  -5,327
  -5,980
  -6,668
  -7,393
  -8,153
  -8,948
  -9,779
  -10,644
  -11,545
  -12,482
  -13,457
  -14,469
  -15,522
  -16,615
  -17,752
  -18,934
  -20,163
  -21,442
Total debt, $m
  288
  304
  647
  1,058
  1,541
  2,099
  2,735
  3,451
  4,246
  5,120
  6,072
  7,101
  8,205
  9,382
  10,631
  11,949
  13,337
  14,792
  16,314
  17,903
  19,560
  21,284
  23,079
  24,944
  26,883
  28,897
  30,991
  33,167
  35,429
  37,782
  40,230
Total liabilities, $m
  1,104
  1,120
  1,463
  1,874
  2,357
  2,915
  3,551
  4,267
  5,062
  5,936
  6,888
  7,917
  9,021
  10,198
  11,447
  12,765
  14,153
  15,608
  17,130
  18,719
  20,376
  22,100
  23,895
  25,760
  27,699
  29,713
  31,807
  33,983
  36,245
  38,598
  41,046
Total equity, $m
  2,560
  3,377
  4,412
  5,651
  7,107
  8,792
  10,711
  12,869
  15,266
  17,903
  20,775
  23,878
  27,207
  30,758
  34,524
  38,501
  42,685
  47,073
  51,664
  56,458
  61,454
  66,656
  72,068
  77,694
  83,541
  89,617
  95,931
  102,495
  109,318
  116,414
  123,798
Total liabilities and equity, $m
  3,664
  4,497
  5,875
  7,525
  9,464
  11,707
  14,262
  17,136
  20,328
  23,839
  27,663
  31,795
  36,228
  40,956
  45,971
  51,266
  56,838
  62,681
  68,794
  75,177
  81,830
  88,756
  95,963
  103,454
  111,240
  119,330
  127,738
  136,478
  145,563
  155,012
  164,844
Debt-to-equity ratio
  0.113
  0.090
  0.150
  0.190
  0.220
  0.240
  0.260
  0.270
  0.280
  0.290
  0.290
  0.300
  0.300
  0.310
  0.310
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
  0.320
Adjusted equity ratio
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751
  0.751

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -113
  172
  346
  554
  801
  1,086
  1,412
  1,779
  2,187
  2,636
  3,126
  3,823
  4,391
  4,997
  5,640
  6,319
  7,033
  7,783
  8,567
  9,386
  10,240
  11,129
  12,054
  13,016
  14,016
  15,055
  16,135
  17,257
  18,425
  19,639
  20,903
Depreciation, amort., depletion, $m
  59
  248
  254
  260
  268
  277
  287
  298
  311
  325
  340
  127
  144
  163
  183
  204
  227
  250
  274
  300
  326
  354
  383
  413
  444
  476
  509
  544
  581
  618
  657
Funds from operations, $m
  404
  420
  599
  815
  1,068
  1,363
  1,699
  2,077
  2,498
  2,961
  3,466
  3,950
  4,535
  5,160
  5,823
  6,523
  7,260
  8,033
  8,842
  9,686
  10,566
  11,483
  12,437
  13,428
  14,459
  15,530
  16,644
  17,801
  19,005
  20,257
  21,560
Change in working capital, $m
  131
  -147
  -179
  -215
  -252
  -292
  -332
  -374
  -415
  -457
  -497
  -537
  -577
  -615
  -652
  -689
  -725
  -760
  -795
  -830
  -865
  -901
  -937
  -974
  -1,013
  -1,052
  -1,094
  -1,137
  -1,182
  -1,229
  -1,279
Cash from operations, $m
  273
  567
  778
  1,029
  1,321
  1,655
  2,031
  2,451
  2,913
  3,418
  3,963
  4,487
  5,112
  5,775
  6,475
  7,212
  7,985
  8,793
  9,637
  10,516
  11,432
  12,384
  13,374
  14,403
  15,472
  16,583
  17,738
  18,938
  20,187
  21,486
  22,839
Maintenance CAPEX, $m
  0
  -13
  -18
  -23
  -30
  -38
  -47
  -57
  -68
  -81
  -95
  -110
  -127
  -144
  -163
  -183
  -204
  -227
  -250
  -274
  -300
  -326
  -354
  -383
  -413
  -444
  -476
  -509
  -544
  -581
  -618
New CAPEX, $m
  -31
  -134
  -165
  -197
  -232
  -268
  -306
  -344
  -382
  -420
  -458
  -494
  -530
  -566
  -600
  -634
  -667
  -699
  -731
  -764
  -796
  -829
  -862
  -896
  -932
  -968
  -1,006
  -1,046
  -1,087
  -1,131
  -1,176
Cash from investing activities, $m
  -571
  -147
  -183
  -220
  -262
  -306
  -353
  -401
  -450
  -501
  -553
  -604
  -657
  -710
  -763
  -817
  -871
  -926
  -981
  -1,038
  -1,096
  -1,155
  -1,216
  -1,279
  -1,345
  -1,412
  -1,482
  -1,555
  -1,631
  -1,712
  -1,794
Free cash flow, $m
  -298
  419
  596
  808
  1,059
  1,348
  1,679
  2,050
  2,463
  2,917
  3,411
  3,882
  4,455
  5,065
  5,712
  6,395
  7,114
  7,867
  8,655
  9,478
  10,336
  11,229
  12,158
  13,124
  14,128
  15,171
  16,256
  17,383
  18,556
  19,775
  21,044
Issuance/(repayment) of debt, $m
  1
  283
  343
  411
  483
  558
  636
  715
  795
  874
  952
  1,029
  1,104
  1,177
  1,249
  1,319
  1,387
  1,455
  1,522
  1,589
  1,657
  1,725
  1,794
  1,865
  1,939
  2,015
  2,094
  2,176
  2,262
  2,353
  2,448
Issuance/(repurchase) of shares, $m
  3
  676
  689
  685
  656
  598
  507
  379
  211
  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  
  8
  959
  1,032
  1,096
  1,139
  1,156
  1,143
  1,094
  1,006
  874
  952
  1,029
  1,104
  1,177
  1,249
  1,319
  1,387
  1,455
  1,522
  1,589
  1,657
  1,725
  1,794
  1,865
  1,939
  2,015
  2,094
  2,176
  2,262
  2,353
  2,448
Total cash flow (excl. dividends), $m
  -280
  1,377
  1,628
  1,904
  2,198
  2,505
  2,822
  3,145
  3,469
  3,791
  4,363
  4,911
  5,559
  6,242
  6,961
  7,714
  8,501
  9,322
  10,178
  11,068
  11,993
  12,954
  13,952
  14,989
  16,067
  17,186
  18,349
  19,559
  20,818
  22,128
  23,492
Retained Cash Flow (-), $m
  80
  -848
  -1,035
  -1,239
  -1,457
  -1,684
  -1,919
  -2,158
  -2,398
  -2,636
  -2,872
  -3,103
  -3,329
  -3,550
  -3,766
  -3,977
  -4,184
  -4,388
  -4,591
  -4,793
  -4,996
  -5,202
  -5,411
  -5,626
  -5,847
  -6,076
  -6,314
  -6,563
  -6,823
  -7,096
  -7,383
Prev. year cash balance distribution, $m
 
  31
  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
 
  560
  593
  665
  741
  821
  903
  987
  1,071
  1,155
  1,491
  1,808
  2,229
  2,692
  3,195
  3,737
  4,317
  4,934
  5,587
  6,274
  6,996
  7,752
  8,541
  9,363
  10,219
  11,110
  12,035
  12,996
  13,995
  15,032
  16,109
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
 
  537
  543
  578
  610
  636
  656
  667
  669
  663
  782
  859
  951
  1,023
  1,073
  1,097
  1,097
  1,074
  1,029
  966
  889
  802
  709
  614
  520
  432
  351
  279
  217
  164
  121
Current shareholders' claim on cash, %
  100
  93.7
  89.1
  85.7
  83.3
  81.5
  80.4
  79.6
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3
  79.3

58.com Inc. is a holding company. The Company's business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform. In addition, 58 Daojia Inc., its subsidiary, operates a mobile-based closed-loop transactional platform for home services, which directly connects consumers and individual service providers for local services, such as home cleaning, moving services and manicure services provided at home. Its classifieds and listing platforms contain local information for over 480 cities across various content categories, including jobs, real estate, used goods, automotive and yellow pages. It also offers membership, online marketing services and e-commerce services.

FINANCIAL RATIOS  of  58.com ADR (WUBA)

Valuation Ratios
P/E Ratio -178.1
Price to Sales 18.3
Price to Book 7.9
Price to Tangible Book
Price to Cash Flow 73.7
Price to Free Cash Flow 83.2
Growth Rates
Sales Growth Rate 69.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -83%
Cap. Spend. - 3 Yr. Gr. Rate 50.6%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 0.8%
Total Debt to Equity 11.3%
Interest Coverage 0
Management Effectiveness
Return On Assets -3%
Ret/ On Assets - 3 Yr. Avg. -2.9%
Return On Total Capital -3.9%
Ret/ On T. Cap. - 3 Yr. Avg. -3.7%
Return On Equity -4.3%
Return On Equity - 3 Yr. Avg. -4.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 90.7%
Gross Margin - 3 Yr. Avg. 92.8%
EBITDA Margin -5.5%
EBITDA Margin - 3 Yr. Avg. -8.6%
Operating Margin 4.1%
Oper. Margin - 3 Yr. Avg. -3.9%
Pre-Tax Margin -10.8%
Pre-Tax Margin - 3 Yr. Avg. -12.6%
Net Profit Margin -10.3%
Net Profit Margin - 3 Yr. Avg. -12.3%
Effective Tax Rate 5.9%
Eff/ Tax Rate - 3 Yr. Avg. 10.1%
Payout Ratio 0%

WUBA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WUBA stock intrinsic value calculation we used $1098 million for the last fiscal year's total revenue generated by 58.com ADR. The default revenue input number comes from 2016 income statement of 58.com ADR. 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 WUBA stock valuation model: a) initial revenue growth rate of 33.5% 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 4.3%, whose default value for WUBA is calculated based on our internal credit rating of 58.com ADR, 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 58.com ADR.
    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 WUBA stock the variable cost ratio is equal to 63.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $362 million in the base year in the intrinsic value calculation for WUBA 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 58.com ADR.

Corporate tax rate of 27% is the nominal tax rate for 58.com ADR. 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 WUBA 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 WUBA are equal to 36.7%.

Life of production assets of 45.9 years is the average useful life of capital assets used in 58.com ADR 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 WUBA is equal to -39.9%. 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 - $2560 million for 58.com ADR - 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 145.647 million for 58.com ADR 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 58.com ADR at the current share price and the inputted number of shares is $10.1 billion.

RELATED COMPANIES Price Int.Val. Rating
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ATHM Autohome ADR 56.60 63.04  hold
BITA Bitauto Holdin 29.25 154.33  str.buy
SINA Sina 97.02 305.74  str.buy

COMPANY NEWS

▶ 58.com Showed How A Damaged Stock Can Fix Itself And Be A Winner   [Nov-30-17 07:28PM  Investor's Business Daily]
▶ 58.com Shares Jump As Third-Quarter Results Top Estimates   [Nov-13-17 04:05PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : November 9, 2017   [Nov-09-17 01:23PM  Capital Cube]
▶ 58.com Sees Composite Rating Improve To 96   [Nov-01-17 03:00AM  Investor's Business Daily]
▶ Criteo (CRTO) Catches Eye: Stock Jumps 6.5%   [Sep-22-17 08:36AM  Zacks]
▶ [$$] Asian logistics companies GoGoVan and 58 Suyun to merge   [Aug-29-17 06:05PM  Financial Times]
▶ ETFs with exposure to 58.com Inc. : August 28, 2017   [Aug-28-17 07:23PM  Capital Cube]
▶ ETF Topper: U.S.-Listed China Tech Stocks Take the Cake   [Aug-21-17 05:35PM  Barrons.com]
▶ Chinese Stock Is Gaining Ground   [12:52PM  GuruFocus.com]
▶ Why Shares of 58.com Are Soaring Today   [12:34PM  Motley Fool]
▶ As Alibaba Climbs, This Other Chinese Stock Tests New Buy Zone   [Jul-11-17 04:09PM  Investor's Business Daily]
▶ Can These Momentum Stocks Break Out One More Time?   [Jul-05-17 01:00PM  Investopedia]
▶ After Alibaba, Weibo Moves, This Chinese Stock May Be Setting Up   [Jun-30-17 03:06PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : June 27, 2017   [Jun-27-17 04:00PM  Capital Cube]
▶ Guazi Announces Series B Financing   [Jun-16-17 02:00AM  PR Newswire]
▶ IPO Stock News And Analysis: Find Today's Top New Issues   [May-26-17 04:31PM  Investor's Business Daily]
▶ Which Stocks Are Showing Rising Relative Strength?   [04:09PM  Investor's Business Daily]
▶ As Alibaba, JD And Weibo Lead, 2013 IPO 58.com Rebounds   [04:07PM  Investor's Business Daily]
▶ ETFs with exposure to 58.com Inc. : May 19, 2017   [May-19-17 02:16PM  Capital Cube]
▶ New Strong Buy Stocks for May 2nd   [May-02-17 10:52AM  Zacks]
▶ ETFs with exposure to 58.com Inc. : April 24, 2017   [Apr-24-17 02:49PM  Capital Cube]
▶ ETFs with exposure to 58.com Inc. : April 5, 2017   [Apr-05-17 05:45PM  Capital Cube]
▶ [$$] 58.com: Chinese Internet Stock Is Way Too Pricey   [Mar-01-17 10:19PM  Barrons.com]
▶ Why 58.com Inc. (ADR) Shares Popped Today   [Feb-28-17 03:45PM  Motley Fool]
▶ ETFs with exposure to 58.com Inc. : January 11, 2017   [Jan-11-17 01:34PM  Capital Cube]
▶ 3 Stocks That Were Cut in Half in 2016   [Dec-16-16 08:35PM  at Motley Fool]
▶ China's Property Market Is Freezing Up: Sell This Stock Now   [Dec-14-16 09:13PM  at Barrons.com]
▶ Near a 3-Year Low, Is 58.com Inc. (ADR) a Buy?   [Dec-09-16 10:19AM  at Motley Fool]
▶ Do Hedge Funds Love Westlake Chemical Corporation (WLK)?   [Dec-07-16 10:54AM  at Insider Monkey]
▶ Hedge Funds Are Betting On Plains GP Holdings LP (PAGP)   [Nov-29-16 09:33AM  at Insider Monkey]
▶ 58.com Announces Management Change   [06:53AM  PR Newswire]
▶ 58.com (WUBA) Stock Coverage Initiated at Deutsche Bank   [Oct-05-16 08:46AM  at TheStreet]
▶ Guazi Completes Another Round of Financing   [Sep-28-16 07:30AM  PR Newswire]
▶ Are Hedge Funds Losing Interest in China?   [Sep-16-16 01:17PM  at Insider Monkey]
▶ [$$] VC Profile: DCM Finds Exits With East Asia-U.S. Strategy   [Sep-06-16 09:05AM  at The Wall Street Journal]
Financial statements of WUBA
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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