Intrinsic value of Yirendai ADR - YRD

Previous Close

$40.81

  Intrinsic Value

$1,016

stock screener

  Rating & Target

str. buy

+999%

  Value-price divergence*

0%

Previous close

$40.81

 
Intrinsic value

$1,016

 
Up/down potential

+999%

 
Rating

str. buy

 
Value-price divergence*

0%

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

We calculate the intrinsic value of YRD 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 2.4

 

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, %
  122.97
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  466
  746
  1,152
  1,723
  2,500
  3,527
  4,848
  6,508
  8,545
  10,995
  13,888
  17,246
  21,085
  25,414
  30,238
  35,555
  41,359
  47,642
  54,394
  61,604
  69,261
  77,355
  85,878
  94,823
  104,187
  113,967
  124,165
  134,786
  145,836
  157,325
  169,267
Variable operating expenses, $m
 
  475
  734
  1,097
  1,592
  2,246
  3,088
  4,145
  5,443
  7,004
  8,847
  10,986
  13,431
  16,189
  19,262
  22,648
  26,345
  30,348
  34,649
  39,241
  44,119
  49,275
  54,704
  60,402
  66,367
  72,597
  79,093
  85,859
  92,897
  100,216
  107,823
Fixed operating expenses, $m
 
  13
  14
  14
  14
  15
  15
  15
  16
  16
  17
  17
  17
  18
  18
  19
  19
  20
  20
  21
  21
  22
  22
  23
  24
  24
  25
  25
  26
  27
  27
Total operating expenses, $m
  310
  488
  748
  1,111
  1,606
  2,261
  3,103
  4,160
  5,459
  7,020
  8,864
  11,003
  13,448
  16,207
  19,280
  22,667
  26,364
  30,368
  34,669
  39,262
  44,140
  49,297
  54,726
  60,425
  66,391
  72,621
  79,118
  85,884
  92,923
  100,243
  107,850
Operating income, $m
  156
  257
  405
  611
  893
  1,265
  1,745
  2,347
  3,086
  3,975
  5,025
  6,243
  7,636
  9,208
  10,958
  12,888
  14,994
  17,274
  19,725
  22,341
  25,120
  28,058
  31,151
  34,398
  37,796
  41,346
  45,047
  48,902
  52,912
  57,082
  61,417
EBITDA, $m
  158
  257
  405
  611
  893
  1,265
  1,745
  2,347
  3,086
  3,975
  5,025
  6,243
  7,636
  9,208
  10,958
  12,888
  14,994
  17,274
  19,725
  22,341
  25,120
  28,058
  31,151
  34,398
  37,796
  41,346
  45,047
  48,902
  52,912
  57,082
  61,417
Interest expense (income), $m
  0
  0
  8
  20
  36
  58
  88
  126
  173
  231
  302
  384
  481
  590
  714
  853
  1,005
  1,171
  1,351
  1,544
  1,751
  1,970
  2,202
  2,446
  2,702
  2,970
  3,250
  3,542
  3,846
  4,163
  4,492
Earnings before tax, $m
  159
  257
  396
  592
  857
  1,207
  1,657
  2,221
  2,913
  3,744
  4,723
  5,859
  7,156
  8,617
  10,244
  12,035
  13,989
  16,103
  18,374
  20,797
  23,370
  26,088
  28,950
  31,952
  35,094
  38,376
  41,797
  45,360
  49,066
  52,920
  56,925
Tax expense, $m
  -2
  69
  107
  160
  231
  326
  447
  600
  787
  1,011
  1,275
  1,582
  1,932
  2,327
  2,766
  3,249
  3,777
  4,348
  4,961
  5,615
  6,310
  7,044
  7,816
  8,627
  9,475
  10,361
  11,285
  12,247
  13,248
  14,288
  15,370
Net income, $m
  161
  188
  289
  432
  626
  881
  1,210
  1,622
  2,127
  2,733
  3,448
  4,277
  5,224
  6,290
  7,478
  8,785
  10,212
  11,755
  13,413
  15,182
  17,060
  19,044
  21,133
  23,325
  25,619
  28,014
  30,512
  33,113
  35,818
  38,631
  41,555

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  139
  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
  689
  880
  1,360
  2,034
  2,951
  4,164
  5,724
  7,683
  10,089
  12,982
  16,397
  20,361
  24,894
  30,005
  35,700
  41,977
  48,829
  56,247
  64,219
  72,731
  81,772
  91,328
  101,391
  111,952
  123,007
  134,554
  146,594
  159,133
  172,179
  185,744
  199,843
Adjusted assets (=assets-cash), $m
  550
  880
  1,360
  2,034
  2,951
  4,164
  5,724
  7,683
  10,089
  12,982
  16,397
  20,361
  24,894
  30,005
  35,700
  41,977
  48,829
  56,247
  64,219
  72,731
  81,772
  91,328
  101,391
  111,952
  123,007
  134,554
  146,594
  159,133
  172,179
  185,744
  199,843
Revenue / Adjusted assets
  0.847
  0.848
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
  0.847
Average production assets, $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
  0
Working capital, $m
  0
  -75
  -115
  -172
  -250
  -353
  -485
  -651
  -855
  -1,100
  -1,389
  -1,725
  -2,108
  -2,541
  -3,024
  -3,555
  -4,136
  -4,764
  -5,439
  -6,160
  -6,926
  -7,736
  -8,588
  -9,482
  -10,419
  -11,397
  -12,417
  -13,479
  -14,584
  -15,733
  -16,927
Total debt, $m
  0
  229
  562
  1,029
  1,664
  2,504
  3,586
  4,944
  6,610
  8,615
  10,982
  13,729
  16,870
  20,413
  24,359
  28,709
  33,458
  38,598
  44,123
  50,022
  56,287
  62,909
  69,883
  77,202
  84,863
  92,865
  101,209
  109,898
  118,939
  128,340
  138,110
Total liabilities, $m
  381
  610
  943
  1,410
  2,045
  2,885
  3,967
  5,325
  6,991
  8,996
  11,363
  14,110
  17,251
  20,794
  24,740
  29,090
  33,839
  38,979
  44,504
  50,403
  56,668
  63,290
  70,264
  77,583
  85,244
  93,246
  101,590
  110,279
  119,320
  128,721
  138,491
Total equity, $m
  308
  270
  418
  624
  906
  1,278
  1,757
  2,359
  3,097
  3,985
  5,034
  6,251
  7,642
  9,212
  10,960
  12,887
  14,991
  17,268
  19,715
  22,329
  25,104
  28,038
  31,127
  34,369
  37,763
  41,308
  45,004
  48,854
  52,859
  57,023
  61,352
Total liabilities and equity, $m
  689
  880
  1,361
  2,034
  2,951
  4,163
  5,724
  7,684
  10,088
  12,981
  16,397
  20,361
  24,893
  30,006
  35,700
  41,977
  48,830
  56,247
  64,219
  72,732
  81,772
  91,328
  101,391
  111,952
  123,007
  134,554
  146,594
  159,133
  172,179
  185,744
  199,843
Debt-to-equity ratio
  0.000
  0.850
  1.340
  1.650
  1.840
  1.960
  2.040
  2.100
  2.130
  2.160
  2.180
  2.200
  2.210
  2.220
  2.220
  2.230
  2.230
  2.240
  2.240
  2.240
  2.240
  2.240
  2.250
  2.250
  2.250
  2.250
  2.250
  2.250
  2.250
  2.250
  2.250
Adjusted equity ratio
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307
  0.307

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  161
  188
  289
  432
  626
  881
  1,210
  1,622
  2,127
  2,733
  3,448
  4,277
  5,224
  6,290
  7,478
  8,785
  10,212
  11,755
  13,413
  15,182
  17,060
  19,044
  21,133
  23,325
  25,619
  28,014
  30,512
  33,113
  35,818
  38,631
  41,555
Depreciation, amort., depletion, $m
  2
  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
Funds from operations, $m
  441
  188
  289
  432
  626
  881
  1,210
  1,622
  2,127
  2,733
  3,448
  4,277
  5,224
  6,290
  7,478
  8,785
  10,212
  11,755
  13,413
  15,182
  17,060
  19,044
  21,133
  23,325
  25,619
  28,014
  30,512
  33,113
  35,818
  38,631
  41,555
Change in working capital, $m
  137
  -28
  -41
  -57
  -78
  -103
  -132
  -166
  -204
  -245
  -289
  -336
  -384
  -433
  -482
  -532
  -580
  -628
  -675
  -721
  -766
  -809
  -852
  -895
  -936
  -978
  -1,020
  -1,062
  -1,105
  -1,149
  -1,194
Cash from operations, $m
  304
  216
  330
  489
  703
  984
  1,342
  1,788
  2,330
  2,978
  3,737
  4,613
  5,608
  6,723
  7,960
  9,317
  10,792
  12,384
  14,088
  15,903
  17,825
  19,854
  21,985
  24,219
  26,555
  28,992
  31,532
  34,175
  36,923
  39,780
  42,749
Maintenance CAPEX, $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
  0
New CAPEX, $m
  -4
  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 investing activities, $m
  -205
  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
Free cash flow, $m
  99
  216
  330
  489
  703
  984
  1,342
  1,788
  2,330
  2,978
  3,737
  4,613
  5,608
  6,723
  7,960
  9,317
  10,792
  12,384
  14,088
  15,903
  17,825
  19,854
  21,985
  24,219
  26,555
  28,992
  31,532
  34,175
  36,923
  39,780
  42,749
Issuance/(repayment) of debt, $m
  0
  229
  332
  467
  636
  840
  1,081
  1,358
  1,667
  2,005
  2,367
  2,747
  3,141
  3,542
  3,947
  4,350
  4,749
  5,141
  5,524
  5,899
  6,265
  6,623
  6,973
  7,319
  7,661
  8,002
  8,344
  8,690
  9,041
  9,401
  9,771
Issuance/(repurchase) of shares, $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
  0
Cash from financing (excl. dividends), $m  
  19
  229
  332
  467
  636
  840
  1,081
  1,358
  1,667
  2,005
  2,367
  2,747
  3,141
  3,542
  3,947
  4,350
  4,749
  5,141
  5,524
  5,899
  6,265
  6,623
  6,973
  7,319
  7,661
  8,002
  8,344
  8,690
  9,041
  9,401
  9,771
Total cash flow (excl. dividends), $m
  123
  445
  663
  956
  1,339
  1,824
  2,423
  3,145
  3,997
  4,983
  6,104
  7,360
  8,749
  10,266
  11,907
  13,667
  15,541
  17,524
  19,612
  21,802
  24,090
  26,476
  28,959
  31,538
  34,216
  36,994
  39,876
  42,864
  45,964
  49,181
  52,520
Retained Cash Flow (-), $m
  -157
  -101
  -147
  -207
  -282
  -372
  -479
  -602
  -738
  -888
  -1,048
  -1,217
  -1,391
  -1,569
  -1,748
  -1,927
  -2,104
  -2,277
  -2,447
  -2,613
  -2,775
  -2,934
  -3,089
  -3,242
  -3,394
  -3,545
  -3,696
  -3,849
  -4,005
  -4,164
  -4,328
Prev. year cash balance distribution, $m
 
  139
  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
 
  483
  515
  749
  1,057
  1,452
  1,944
  2,544
  3,259
  4,095
  5,056
  6,143
  7,357
  8,696
  10,159
  11,740
  13,437
  15,247
  17,165
  19,189
  21,315
  23,542
  25,870
  28,296
  30,822
  33,449
  36,179
  39,015
  41,959
  45,016
  48,192
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
 
  463
  472
  652
  871
  1,125
  1,411
  1,719
  2,037
  2,352
  2,650
  2,917
  3,140
  3,307
  3,410
  3,447
  3,415
  3,317
  3,161
  2,954
  2,708
  2,435
  2,146
  1,855
  1,570
  1,301
  1,056
  837
  649
  491
  363
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

Yirendai Ltd. operates as an online consumer finance marketplace that connects borrowers and investors primarily in the People’s Republic of China. It offers standard, fasttrack, and vertical loan products. The company also provides credit scoring and fraud detection systems, and investing tools. The company was founded in 2012 and is based in Beijing, the People’s Republic of China. Yirendai Ltd. operates as a subsidiary of Creditease Holdings (Cayman) Ltd.

FINANCIAL RATIOS  of  Yirendai ADR (YRD)

Valuation Ratios
P/E Ratio 30.3
Price to Sales 10.5
Price to Book 15.8
Price to Tangible Book
Price to Cash Flow 16
Price to Free Cash Flow 16.3
Growth Rates
Sales Growth Rate 123%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 31.4%
Ret/ On Assets - 3 Yr. Avg. 13%
Return On Total Capital 70.2%
Ret/ On T. Cap. - 3 Yr. Avg. 30.5%
Return On Equity 70.2%
Return On Equity - 3 Yr. Avg. 30.5%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 94.4%
Gross Margin - 3 Yr. Avg. 91.6%
EBITDA Margin 34.5%
EBITDA Margin - 3 Yr. Avg. 17.7%
Operating Margin 33.5%
Oper. Margin - 3 Yr. Avg. 17%
Pre-Tax Margin 34.1%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 34.5%
Net Profit Margin - 3 Yr. Avg. 13.3%
Effective Tax Rate -1.3%
Eff/ Tax Rate - 3 Yr. Avg. 1.7%
Payout Ratio 0%

YRD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the YRD stock intrinsic value calculation we used $466 million for the last fiscal year's total revenue generated by Yirendai ADR. The default revenue input number comes from 2016 income statement of Yirendai 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 YRD stock valuation model: a) initial revenue growth rate of 60% 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 YRD is calculated based on our internal credit rating of Yirendai 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 Yirendai 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 YRD stock the variable cost ratio is equal to 63.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $13 million in the base year in the intrinsic value calculation for YRD 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 Yirendai ADR.

Corporate tax rate of 27% is the nominal tax rate for Yirendai 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 YRD 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 YRD are equal to 0%.

Life of production assets of 10 years is the average useful life of capital assets used in Yirendai 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 YRD is equal to -10%. 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 - $308 million for Yirendai 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 58.078 million for Yirendai 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 Yirendai ADR at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ Yirendai posts 2Q profit   [Aug-01-17 09:44PM  Associated Press]
▶ This Chinese Financial Stock With 239% Growth Nearing New Breakout   [Jul-12-17 04:09PM  Investor's Business Daily]
▶ ETFs with exposure to Yirendai Ltd. : June 27, 2017   [Jun-27-17 04:02PM  Capital Cube]
▶ Why Yirendai (YRD) Stock Might be a Great Pick   [Jun-19-17 08:42AM  Zacks]
▶ ETFs with exposure to Yirendai Ltd. : June 13, 2017   [Jun-13-17 01:05PM  Capital Cube]
▶ ETFs with exposure to Yirendai Ltd. : June 2, 2017   [Jun-02-17 02:40PM  Capital Cube]
▶ ETFs with exposure to Yirendai Ltd. : May 18, 2017   [May-18-17 02:08PM  Capital Cube]
▶ ETFs with exposure to Yirendai Ltd. : May 3, 2017   [May-03-17 04:30PM  Capital Cube]
▶ Yirendai Files Annual Report on Form 20-F   [Apr-24-17 06:00PM  PR Newswire]
▶ The Best Low P/E Chinese Stocks to Buy in April   [Apr-08-17 01:31PM  Motley Fool]
▶ Yirendai Appoints Chief Credit Officer   [06:00AM  PR Newswire]
▶ ETFs with exposure to Yirendai Ltd. : January 19, 2017   [Jan-19-17 02:12PM  Capital Cube]
▶ Could Yirendai Be a Millionaire Maker Stock?   [Dec-17-16 09:23AM  Motley Fool]
▶ Could Yirendai Be a Millionaire Maker Stock?   [09:23AM  at Motley Fool]
▶ Hedge Funds Are Crazy About Capital Bank Financial Corp (CBF)   [Dec-14-16 06:17AM  at Insider Monkey]
▶ Is Axovant Sciences Ltd (AXON) Worthy of Your Portfolio?   [Dec-08-16 03:29PM  at Insider Monkey]
▶ Yirendai Reports Third Quarter 2016 Financial Results   [Nov-15-16 05:00PM  PR Newswire]
▶ FinTech Innovations Make Inclusive Finance Different   [Oct-13-16 10:00PM  PR Newswire]
Stock chart of YRD Financial statements of YRD
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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