Intrinsic value of World Wrestling Entertainment Cl A - WWE

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$19.91

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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$19.91

 
Intrinsic value

$24.90

 
Up/down potential

+25%

 
Rating

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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 WWE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.5

 

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, %
  10.62
  9.90
  9.41
  8.97
  8.57
  8.21
  7.89
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
Revenue, $m
  729
  801
  877
  955
  1,037
  1,122
  1,211
  1,303
  1,399
  1,498
  1,601
  1,709
  1,821
  1,937
  2,058
  2,184
  2,315
  2,452
  2,594
  2,743
  2,898
  3,060
  3,230
  3,407
  3,592
  3,786
  3,988
  4,200
  4,422
  4,655
  4,898
Variable operating expenses, $m
 
  618
  676
  736
  800
  865
  934
  1,005
  1,078
  1,155
  1,235
  1,317
  1,404
  1,493
  1,586
  1,684
  1,785
  1,890
  2,000
  2,115
  2,235
  2,360
  2,490
  2,627
  2,770
  2,919
  3,075
  3,239
  3,410
  3,589
  3,777
Fixed operating expenses, $m
 
  118
  121
  124
  127
  130
  133
  137
  140
  144
  147
  151
  155
  159
  162
  167
  171
  175
  179
  184
  188
  193
  198
  203
  208
  213
  219
  224
  230
  235
  241
Total operating expenses, $m
  674
  736
  797
  860
  927
  995
  1,067
  1,142
  1,218
  1,299
  1,382
  1,468
  1,559
  1,652
  1,748
  1,851
  1,956
  2,065
  2,179
  2,299
  2,423
  2,553
  2,688
  2,830
  2,978
  3,132
  3,294
  3,463
  3,640
  3,824
  4,018
Operating income, $m
  56
  66
  80
  95
  111
  127
  144
  162
  180
  199
  220
  240
  262
  285
  309
  333
  359
  386
  415
  444
  475
  508
  542
  577
  615
  654
  695
  738
  783
  831
  881
EBITDA, $m
  121
  98
  115
  133
  152
  172
  192
  214
  236
  259
  284
  309
  335
  362
  391
  421
  452
  484
  518
  554
  591
  630
  671
  714
  758
  805
  854
  906
  960
  1,017
  1,076
Interest expense (income), $m
  2
  7
  6
  7
  8
  9
  11
  12
  13
  15
  16
  18
  19
  21
  22
  24
  26
  28
  30
  32
  34
  36
  39
  41
  44
  46
  49
  52
  55
  58
  62
Earnings before tax, $m
  53
  59
  74
  88
  102
  117
  133
  150
  167
  185
  203
  223
  243
  264
  286
  309
  333
  359
  385
  412
  441
  471
  503
  536
  571
  607
  646
  686
  728
  772
  819
Tax expense, $m
  19
  16
  20
  24
  28
  32
  36
  40
  45
  50
  55
  60
  66
  71
  77
  84
  90
  97
  104
  111
  119
  127
  136
  145
  154
  164
  174
  185
  197
  209
  221
Net income, $m
  34
  43
  54
  64
  75
  86
  97
  109
  122
  135
  148
  163
  177
  193
  209
  226
  243
  262
  281
  301
  322
  344
  367
  391
  417
  443
  471
  501
  531
  564
  598

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  267
  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
  601
  367
  402
  438
  475
  514
  555
  597
  641
  686
  734
  783
  834
  887
  943
  1,000
  1,060
  1,123
  1,188
  1,257
  1,328
  1,402
  1,480
  1,561
  1,646
  1,734
  1,827
  1,924
  2,026
  2,132
  2,244
Adjusted assets (=assets-cash), $m
  334
  367
  402
  438
  475
  514
  555
  597
  641
  686
  734
  783
  834
  887
  943
  1,000
  1,060
  1,123
  1,188
  1,257
  1,328
  1,402
  1,480
  1,561
  1,646
  1,734
  1,827
  1,924
  2,026
  2,132
  2,244
Revenue / Adjusted assets
  2.183
  2.183
  2.182
  2.180
  2.183
  2.183
  2.182
  2.183
  2.183
  2.184
  2.181
  2.183
  2.183
  2.184
  2.182
  2.184
  2.184
  2.183
  2.184
  2.182
  2.182
  2.183
  2.182
  2.183
  2.182
  2.183
  2.183
  2.183
  2.183
  2.183
  2.183
Average production assets, $m
  146
  160
  175
  191
  207
  224
  242
  261
  280
  300
  320
  342
  364
  387
  412
  437
  463
  490
  519
  549
  580
  612
  646
  681
  718
  757
  798
  840
  884
  931
  980
Working capital, $m
  216
  -50
  -54
  -59
  -64
  -70
  -75
  -81
  -87
  -93
  -99
  -106
  -113
  -120
  -128
  -135
  -144
  -152
  -161
  -170
  -180
  -190
  -200
  -211
  -223
  -235
  -247
  -260
  -274
  -289
  -304
Total debt, $m
  203
  172
  203
  236
  270
  305
  341
  379
  419
  460
  502
  546
  593
  640
  690
  742
  796
  853
  912
  973
  1,037
  1,104
  1,174
  1,247
  1,323
  1,403
  1,486
  1,574
  1,665
  1,761
  1,861
Total liabilities, $m
  361
  330
  361
  394
  428
  463
  499
  537
  577
  618
  660
  704
  751
  798
  848
  900
  954
  1,011
  1,070
  1,131
  1,195
  1,262
  1,332
  1,405
  1,481
  1,561
  1,644
  1,732
  1,823
  1,919
  2,019
Total equity, $m
  240
  37
  40
  44
  48
  51
  55
  60
  64
  69
  73
  78
  83
  89
  94
  100
  106
  112
  119
  126
  133
  140
  148
  156
  165
  173
  183
  192
  203
  213
  224
Total liabilities and equity, $m
  601
  367
  401
  438
  476
  514
  554
  597
  641
  687
  733
  782
  834
  887
  942
  1,000
  1,060
  1,123
  1,189
  1,257
  1,328
  1,402
  1,480
  1,561
  1,646
  1,734
  1,827
  1,924
  2,026
  2,132
  2,243
Debt-to-equity ratio
  0.846
  4.690
  5.070
  5.390
  5.670
  5.930
  6.150
  6.350
  6.530
  6.700
  6.850
  6.980
  7.110
  7.220
  7.320
  7.420
  7.510
  7.590
  7.670
  7.740
  7.810
  7.870
  7.930
  7.990
  8.040
  8.090
  8.140
  8.180
  8.220
  8.260
  8.300
Adjusted equity ratio
  -0.081
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  34
  43
  54
  64
  75
  86
  97
  109
  122
  135
  148
  163
  177
  193
  209
  226
  243
  262
  281
  301
  322
  344
  367
  391
  417
  443
  471
  501
  531
  564
  598
Depreciation, amort., depletion, $m
  65
  32
  35
  38
  41
  45
  48
  52
  56
  60
  64
  68
  73
  77
  82
  87
  93
  98
  104
  110
  116
  122
  129
  136
  144
  151
  160
  168
  177
  186
  196
Funds from operations, $m
  -12
  75
  89
  102
  116
  131
  146
  161
  178
  195
  213
  231
  250
  270
  291
  313
  336
  360
  385
  411
  438
  467
  496
  528
  560
  595
  631
  669
  708
  750
  794
Change in working capital, $m
  -69
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -11
  -12
  -13
  -13
  -14
  -14
  -15
Cash from operations, $m
  57
  94
  94
  107
  121
  136
  151
  167
  184
  201
  219
  238
  257
  278
  299
  321
  344
  368
  394
  420
  448
  477
  507
  539
  572
  607
  643
  682
  722
  764
  809
Maintenance CAPEX, $m
  0
  -29
  -32
  -35
  -38
  -41
  -45
  -48
  -52
  -56
  -60
  -64
  -68
  -73
  -77
  -82
  -87
  -93
  -98
  -104
  -110
  -116
  -122
  -129
  -136
  -144
  -151
  -160
  -168
  -177
  -186
New CAPEX, $m
  -30
  -15
  -15
  -16
  -16
  -17
  -18
  -18
  -19
  -20
  -21
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -37
  -39
  -41
  -42
  -44
  -46
  -49
Cash from investing activities, $m
  -24
  -44
  -47
  -51
  -54
  -58
  -63
  -66
  -71
  -76
  -81
  -85
  -90
  -96
  -101
  -107
  -113
  -120
  -127
  -134
  -141
  -148
  -156
  -164
  -173
  -183
  -192
  -202
  -212
  -223
  -235
Free cash flow, $m
  33
  50
  47
  56
  67
  77
  89
  100
  112
  125
  138
  152
  167
  182
  197
  213
  231
  248
  267
  286
  307
  328
  351
  374
  399
  424
  452
  480
  510
  541
  574
Issuance/(repayment) of debt, $m
  157
  -25
  31
  32
  34
  35
  37
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  59
  61
  64
  67
  70
  73
  76
  80
  84
  87
  92
  96
  100
Issuance/(repurchase) of shares, $m
  21
  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  
  178
  -25
  31
  32
  34
  35
  37
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  59
  61
  64
  67
  70
  73
  76
  80
  84
  87
  92
  96
  100
Total cash flow (excl. dividends), $m
  211
  25
  78
  89
  100
  113
  125
  138
  152
  166
  181
  196
  213
  229
  247
  265
  285
  305
  326
  348
  371
  395
  420
  447
  475
  504
  535
  567
  601
  637
  674
Retained Cash Flow (-), $m
  -31
  -58
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
Prev. year cash balance distribution, $m
 
  261
  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
 
  229
  74
  85
  97
  109
  121
  134
  148
  162
  176
  192
  207
  224
  241
  260
  279
  298
  319
  341
  364
  388
  413
  439
  467
  495
  526
  558
  591
  626
  663
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
 
  219
  68
  74
  80
  84
  88
  91
  92
  93
  92
  91
  89
  85
  81
  76
  71
  65
  59
  53
  46
  40
  34
  29
  24
  19
  15
  12
  9
  7
  5
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

World Wrestling Entertainment, Inc., an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, and WWE Studios segments. It operates WWE Network, a live streaming network that offers pay-per-view events, original programming, and video-on-demand library; and produces television programming, reality shows, and other programming, as well as produces content via home entertainment platforms, including DVD, Blu-Ray, subscription, and transactional on-demand outlets. The company also offers broadband and mobile content through its Websites and third party Websites; produces live events; and licenses various WWE themed products, such as video games, toys, apparel, books, and music. In addition, it designs, sources, markets, and distributes various WWE-branded products, such as T-shirts, belts, caps, and other novelty items; operates WWEShop, an e-commerce storefront; and WWE Studios that produces and distributes filmed entertainment content, such as movies for theatrical, home entertainment, and/or television release. World Wrestling Entertainment, Inc. was founded in 1980 and is headquartered in Stamford, Connecticut.

FINANCIAL RATIOS  of  World Wrestling Entertainment Cl A (WWE)

Valuation Ratios
P/E Ratio 44.7
Price to Sales 2.1
Price to Book 6.3
Price to Tangible Book
Price to Cash Flow 26.7
Price to Free Cash Flow 56.3
Growth Rates
Sales Growth Rate 10.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 50%
Cap. Spend. - 3 Yr. Gr. Rate -11.7%
Financial Strength
Quick Ratio 45
Current Ratio 0
LT Debt to Equity 82.1%
Total Debt to Equity 84.6%
Interest Coverage 28
Management Effectiveness
Return On Assets 7%
Ret/ On Assets - 3 Yr. Avg. 1.8%
Return On Total Capital 10.1%
Ret/ On T. Cap. - 3 Yr. Avg. 3%
Return On Equity 15.1%
Return On Equity - 3 Yr. Avg. 4.7%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 41%
Gross Margin - 3 Yr. Avg. 37%
EBITDA Margin 16.5%
EBITDA Margin - 3 Yr. Avg. 11.5%
Operating Margin 7.5%
Oper. Margin - 3 Yr. Avg. 1.9%
Pre-Tax Margin 7.3%
Pre-Tax Margin - 3 Yr. Avg. 1.2%
Net Profit Margin 4.7%
Net Profit Margin - 3 Yr. Avg. 0.9%
Effective Tax Rate 35.8%
Eff/ Tax Rate - 3 Yr. Avg. 36%
Payout Ratio 108.8%

WWE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WWE stock intrinsic value calculation we used $729 million for the last fiscal year's total revenue generated by World Wrestling Entertainment Cl A. The default revenue input number comes from 2016 income statement of World Wrestling Entertainment Cl A. 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 WWE stock valuation model: a) initial revenue growth rate of 9.9% 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 WWE is calculated based on our internal credit rating of World Wrestling Entertainment Cl A, 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 World Wrestling Entertainment Cl A.
    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 WWE stock the variable cost ratio is equal to 77.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $115 million in the base year in the intrinsic value calculation for WWE 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 World Wrestling Entertainment Cl A.

Corporate tax rate of 27% is the nominal tax rate for World Wrestling Entertainment Cl A. 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 WWE 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 WWE are equal to 20%.

Life of production assets of 2.2 years is the average useful life of capital assets used in World Wrestling Entertainment Cl A 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 WWE is equal to -6.2%. 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 - $240 million for World Wrestling Entertainment Cl A - 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 76.344 million for World Wrestling Entertainment Cl A 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 World Wrestling Entertainment Cl A at the current share price and the inputted number of shares is $1.5 billion.


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COMPANY NEWS

▶ Psyonix and WWE® Announce Rocket League® Partnership   [May-17-17 10:00AM  Business Wire]
▶ Wrestlings Superstars Are Invading Hollywood   [May-10-17 05:00AM  Bloomberg]
▶ This Media Company Is Adding Paid Subscribers As Others Struggle   [May-04-17 04:28PM  Investor's Business Daily]
▶ WWE posts 1Q profit   [09:08AM  Associated Press]
▶ WWE® Reports First Quarter 2017 Results   [08:30AM  Business Wire]
▶ World Wrestling Doubles Down on the 'World'   [May-03-17 12:44PM  Barrons.com]
▶ How FloSports is Playing David to ESPN's Trembling Goliath   [Apr-29-17 08:02AM  TheStreet.com]
▶ WWE® Declares Quarterly Dividend   [Apr-21-17 11:41AM  Business Wire]
▶ WWE® Appoints New General Manager in India   [11:28AM  Business Wire]
▶ Behind the Scenes at WrestleMania 33   [06:00AM  Bloomberg]
▶ SBA's McMahon Says Regulations Hold Back Business Owners   [Apr-18-17 10:33AM  Bloomberg Video]
▶ WWE® to Report First Quarter 2017 Results   [Apr-14-17 08:30AM  Business Wire]
▶ Why Investors Aren't Buying WWE's 'Records'   [Apr-07-17 07:06PM  Barrons.com]
▶ WrestleMania® Breaks More Records   [Apr-06-17 02:21PM  Business Wire]
▶ SEGA Announces Partnership With WWE   [11:00AM  PR Newswire]
▶ WrestleMania® Breaks Records   [Apr-02-17 11:40PM  Business Wire]
▶ WrestleMania 33: By The Numbers   [12:25PM  Forbes]
▶ 5 Highest-Grossing Wrestlemanias Of All Time   [Apr-01-17 10:39AM  Benzinga]
▶ WWE Announces 2 Very Different New Partners   [Mar-29-17 01:10PM  at Investopedia]
▶ WWE® Shop Launches in India   [09:00AM  Business Wire]
▶ Citi Positive on World Wrestling Entertaiment   [12:25PM  at Investopedia]
▶ WWE Network® Post-WrestleMania® Conference Call   [Mar-23-17 05:17PM  Business Wire]
▶ WWE LIVE(TM) Returns to Singapore   [Mar-07-17 08:00PM  PR Newswire]
▶ WWE Taken to the Mat on Light Volume   [03:20PM  at Investopedia]
▶ "ANDRE THE GIANT to Debut on HBO   [Feb-13-17 01:05PM  Business Wire]
▶ WWE Reports Record Revenue, Network Increases   [02:10PM  at Investopedia]
▶ Revenue Surprise to Upside for WWE   [09:37AM  at Investopedia]
Stock chart of WWE Financial statements of WWE Annual reports of WWE
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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