Intrinsic value of Olympic Steel - ZEUS

Previous Close

$19.65

  Intrinsic Value

$5.77

stock screener

  Rating & Target

str. sell

-71%

  Value-price divergence*

+14%

Previous close

$19.65

 
Intrinsic value

$5.77

 
Up/down potential

-71%

 
Rating

str. sell

 
Value-price divergence*

+14%

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

We calculate the intrinsic value of ZEUS 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 0.2

 

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, %
  -10.29
  29.90
  27.41
  25.17
  23.15
  21.34
  19.70
  18.23
  16.91
  15.72
  14.65
  13.68
  12.81
  12.03
  11.33
  10.70
  10.13
  9.61
  9.15
  8.74
  8.36
  8.03
  7.72
  7.45
  7.21
  6.99
  6.79
  6.61
  6.45
  6.30
  6.17
Revenue, $m
  1,055
  1,370
  1,746
  2,186
  2,692
  3,266
  3,909
  4,622
  5,404
  6,253
  7,169
  8,150
  9,194
  10,300
  11,467
  12,694
  13,979
  15,323
  16,726
  18,187
  19,708
  21,290
  22,935
  24,644
  26,420
  28,266
  30,185
  32,179
  34,254
  36,413
  38,661
Variable operating expenses, $m
 
  1,402
  1,786
  2,236
  2,753
  3,341
  3,999
  4,728
  5,528
  6,397
  7,334
  8,337
  9,406
  10,537
  11,731
  12,986
  14,301
  15,676
  17,111
  18,606
  20,162
  21,780
  23,463
  25,211
  27,028
  28,916
  30,879
  32,920
  35,042
  37,251
  39,550
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
  1,049
  1,402
  1,786
  2,236
  2,753
  3,341
  3,999
  4,728
  5,528
  6,397
  7,334
  8,337
  9,406
  10,537
  11,731
  12,986
  14,301
  15,676
  17,111
  18,606
  20,162
  21,780
  23,463
  25,211
  27,028
  28,916
  30,879
  32,920
  35,042
  37,251
  39,550
Operating income, $m
  6
  -32
  -40
  -50
  -62
  -75
  -90
  -106
  -124
  -144
  -165
  -187
  -211
  -237
  -264
  -292
  -322
  -352
  -385
  -418
  -453
  -490
  -528
  -567
  -608
  -650
  -694
  -740
  -788
  -838
  -889
EBITDA, $m
  25
  -7
  -9
  -11
  -14
  -16
  -20
  -23
  -27
  -32
  -36
  -41
  -46
  -52
  -58
  -64
  -70
  -77
  -84
  -92
  -99
  -107
  -116
  -124
  -133
  -142
  -152
  -162
  -173
  -184
  -195
Interest expense (income), $m
  4
  6
  9
  13
  17
  22
  28
  34
  41
  49
  58
  67
  77
  87
  98
  110
  122
  135
  148
  162
  177
  192
  208
  224
  241
  259
  277
  296
  316
  337
  359
Earnings before tax, $m
  0
  -37
  -49
  -63
  -79
  -97
  -118
  -141
  -166
  -193
  -223
  -254
  -288
  -324
  -362
  -402
  -443
  -487
  -533
  -580
  -630
  -682
  -735
  -791
  -849
  -909
  -972
  -1,037
  -1,104
  -1,175
  -1,248
Tax expense, $m
  1
  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
Net income, $m
  -1
  -37
  -49
  -63
  -79
  -97
  -118
  -141
  -166
  -193
  -223
  -254
  -288
  -324
  -362
  -402
  -443
  -487
  -533
  -580
  -630
  -682
  -735
  -791
  -849
  -909
  -972
  -1,037
  -1,104
  -1,175
  -1,248

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
Total assets, $m
  556
  720
  917
  1,148
  1,414
  1,715
  2,053
  2,428
  2,838
  3,284
  3,765
  4,280
  4,829
  5,410
  6,023
  6,667
  7,342
  8,048
  8,785
  9,552
  10,351
  11,182
  12,046
  12,943
  13,876
  14,846
  15,853
  16,901
  17,991
  19,125
  20,305
Adjusted assets (=assets-cash), $m
  554
  720
  917
  1,148
  1,414
  1,715
  2,053
  2,428
  2,838
  3,284
  3,765
  4,280
  4,829
  5,410
  6,023
  6,667
  7,342
  8,048
  8,785
  9,552
  10,351
  11,182
  12,046
  12,943
  13,876
  14,846
  15,853
  16,901
  17,991
  19,125
  20,305
Revenue / Adjusted assets
  1.904
  1.903
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
  1.904
Average production assets, $m
  186
  241
  307
  385
  474
  575
  688
  813
  951
  1,101
  1,262
  1,434
  1,618
  1,813
  2,018
  2,234
  2,460
  2,697
  2,944
  3,201
  3,469
  3,747
  4,037
  4,337
  4,650
  4,975
  5,312
  5,664
  6,029
  6,409
  6,804
Working capital, $m
  260
  337
  430
  538
  662
  803
  962
  1,137
  1,329
  1,538
  1,764
  2,005
  2,262
  2,534
  2,821
  3,123
  3,439
  3,770
  4,115
  4,474
  4,848
  5,237
  5,642
  6,062
  6,499
  6,953
  7,425
  7,916
  8,427
  8,958
  9,511
Total debt, $m
  166
  254
  361
  486
  631
  794
  978
  1,181
  1,404
  1,646
  1,908
  2,187
  2,485
  2,801
  3,133
  3,483
  3,850
  4,233
  4,633
  5,050
  5,484
  5,935
  6,404
  6,891
  7,398
  7,924
  8,471
  9,040
  9,632
  10,248
  10,889
Total liabilities, $m
  303
  391
  498
  623
  768
  931
  1,115
  1,318
  1,541
  1,783
  2,045
  2,324
  2,622
  2,938
  3,270
  3,620
  3,987
  4,370
  4,770
  5,187
  5,621
  6,072
  6,541
  7,028
  7,535
  8,061
  8,608
  9,177
  9,769
  10,385
  11,026
Total equity, $m
  253
  329
  419
  525
  646
  784
  938
  1,109
  1,297
  1,501
  1,721
  1,956
  2,207
  2,472
  2,752
  3,047
  3,355
  3,678
  4,015
  4,365
  4,730
  5,110
  5,505
  5,915
  6,341
  6,784
  7,245
  7,724
  8,222
  8,740
  9,280
Total liabilities and equity, $m
  556
  720
  917
  1,148
  1,414
  1,715
  2,053
  2,427
  2,838
  3,284
  3,766
  4,280
  4,829
  5,410
  6,022
  6,667
  7,342
  8,048
  8,785
  9,552
  10,351
  11,182
  12,046
  12,943
  13,876
  14,845
  15,853
  16,901
  17,991
  19,125
  20,306
Debt-to-equity ratio
  0.656
  0.770
  0.860
  0.930
  0.980
  1.010
  1.040
  1.060
  1.080
  1.100
  1.110
  1.120
  1.130
  1.130
  1.140
  1.140
  1.150
  1.150
  1.150
  1.160
  1.160
  1.160
  1.160
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
  1.170
Adjusted equity ratio
  0.453
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -1
  -37
  -49
  -63
  -79
  -97
  -118
  -141
  -166
  -193
  -223
  -254
  -288
  -324
  -362
  -402
  -443
  -487
  -533
  -580
  -630
  -682
  -735
  -791
  -849
  -909
  -972
  -1,037
  -1,104
  -1,175
  -1,248
Depreciation, amort., depletion, $m
  19
  25
  31
  39
  48
  59
  70
  83
  97
  112
  129
  146
  165
  185
  206
  228
  251
  275
  300
  327
  354
  382
  412
  443
  474
  508
  542
  578
  615
  654
  694
Funds from operations, $m
  -37
  -13
  -18
  -24
  -31
  -39
  -48
  -58
  -69
  -81
  -94
  -108
  -123
  -139
  -156
  -174
  -192
  -212
  -232
  -254
  -276
  -299
  -323
  -348
  -374
  -401
  -430
  -459
  -489
  -521
  -554
Change in working capital, $m
  -27
  78
  92
  108
  124
  141
  158
  175
  192
  209
  225
  241
  257
  272
  287
  302
  316
  331
  345
  360
  374
  389
  405
  420
  437
  454
  472
  491
  510
  531
  553
Cash from operations, $m
  -10
  -90
  -110
  -132
  -155
  -180
  -206
  -233
  -261
  -290
  -319
  -349
  -380
  -411
  -443
  -475
  -509
  -543
  -577
  -613
  -650
  -688
  -728
  -769
  -811
  -855
  -901
  -949
  -1,000
  -1,052
  -1,106
Maintenance CAPEX, $m
  0
  -19
  -25
  -31
  -39
  -48
  -59
  -70
  -83
  -97
  -112
  -129
  -146
  -165
  -185
  -206
  -228
  -251
  -275
  -300
  -327
  -354
  -382
  -412
  -443
  -474
  -508
  -542
  -578
  -615
  -654
New CAPEX, $m
  -7
  -56
  -66
  -77
  -89
  -101
  -113
  -125
  -138
  -149
  -161
  -173
  -184
  -195
  -205
  -216
  -226
  -237
  -247
  -257
  -268
  -278
  -289
  -301
  -313
  -325
  -338
  -351
  -365
  -380
  -396
Cash from investing activities, $m
  -6
  -75
  -91
  -108
  -128
  -149
  -172
  -195
  -221
  -246
  -273
  -302
  -330
  -360
  -390
  -422
  -454
  -488
  -522
  -557
  -595
  -632
  -671
  -713
  -756
  -799
  -846
  -893
  -943
  -995
  -1,050
Free cash flow, $m
  -16
  -165
  -201
  -240
  -283
  -329
  -378
  -429
  -481
  -536
  -593
  -651
  -710
  -771
  -833
  -897
  -963
  -1,030
  -1,100
  -1,171
  -1,245
  -1,321
  -1,400
  -1,482
  -1,566
  -1,655
  -1,747
  -1,843
  -1,943
  -2,047
  -2,156
Issuance/(repayment) of debt, $m
  18
  90
  107
  125
  144
  164
  184
  203
  223
  242
  261
  280
  298
  315
  333
  350
  367
  383
  400
  417
  434
  451
  469
  487
  507
  526
  547
  569
  592
  616
  641
Issuance/(repurchase) of shares, $m
  0
  113
  139
  168
  200
  235
  272
  312
  353
  397
  442
  490
  539
  589
  642
  696
  752
  810
  869
  931
  995
  1,061
  1,130
  1,201
  1,275
  1,352
  1,432
  1,515
  1,602
  1,693
  1,787
Cash from financing (excl. dividends), $m  
  18
  203
  246
  293
  344
  399
  456
  515
  576
  639
  703
  770
  837
  904
  975
  1,046
  1,119
  1,193
  1,269
  1,348
  1,429
  1,512
  1,599
  1,688
  1,782
  1,878
  1,979
  2,084
  2,194
  2,309
  2,428
Total cash flow (excl. dividends), $m
  2
  38
  46
  53
  61
  70
  78
  86
  95
  103
  111
  119
  127
  134
  141
  149
  156
  163
  170
  177
  184
  192
  199
  207
  215
  224
  232
  242
  251
  262
  272
Retained Cash Flow (-), $m
  2
  -113
  -139
  -168
  -200
  -235
  -272
  -312
  -353
  -397
  -442
  -490
  -539
  -589
  -642
  -696
  -752
  -810
  -869
  -931
  -995
  -1,061
  -1,130
  -1,201
  -1,275
  -1,352
  -1,432
  -1,515
  -1,602
  -1,693
  -1,787
Prev. year cash balance distribution, $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 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
 
  -75
  -94
  -115
  -139
  -165
  -194
  -225
  -259
  -294
  -331
  -371
  -412
  -455
  -500
  -547
  -596
  -647
  -700
  -754
  -811
  -870
  -931
  -994
  -1,060
  -1,128
  -1,200
  -1,274
  -1,351
  -1,431
  -1,515
Discount rate, %
 
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.42
  17.24
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
  28.09
  29.49
  30.97
  32.52
PV of cash for distribution, $m
 
  -70
  -80
  -90
  -98
  -105
  -109
  -111
  -111
  -109
  -104
  -98
  -90
  -81
  -72
  -62
  -52
  -43
  -35
  -28
  -21
  -16
  -12
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  65.6
  43.8
  29.7
  20.5
  14.4
  10.2
  7.4
  5.4
  3.9
  2.9
  2.2
  1.7
  1.3
  1.0
  0.7
  0.6
  0.4
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0

Olympic Steel, Inc. is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company's carbon flat products segment's focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts. The Company's specialty metals flat products segment's focus is on the direct sale and distribution of processed aluminum and stainless flat-rolled sheet and coil products, flat bar products and fabricated parts. The Company's tubular and pipe products segment consists of the Chicago Tube and Iron Company (CTI) business. Through its tubular and pipe products segment, it distributes metals tubing, pipe, bar, valve and fittings, and fabricate pressure parts supplied to various industrial markets.

FINANCIAL RATIOS  of  Olympic Steel (ZEUS)

Valuation Ratios
P/E Ratio -215.4
Price to Sales 0.2
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow -21.5
Price to Free Cash Flow -12.7
Growth Rates
Sales Growth Rate -10.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -15.2%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 64.8%
Total Debt to Equity 65.6%
Interest Coverage 1
Management Effectiveness
Return On Assets 0.6%
Ret/ On Assets - 3 Yr. Avg. -1.6%
Return On Total Capital -0.2%
Ret/ On T. Cap. - 3 Yr. Avg. -3.2%
Return On Equity -0.4%
Return On Equity - 3 Yr. Avg. -5.7%
Asset Turnover 2
Profitability Ratios
Gross Margin 14.8%
Gross Margin - 3 Yr. Avg. 13.4%
EBITDA Margin 2.2%
EBITDA Margin - 3 Yr. Avg. 0.8%
Operating Margin 0.6%
Oper. Margin - 3 Yr. Avg. -0.8%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. -1.3%
Net Profit Margin -0.1%
Net Profit Margin - 3 Yr. Avg. -1.2%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0.6%
Payout Ratio -100%

ZEUS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ZEUS stock intrinsic value calculation we used $1055 million for the last fiscal year's total revenue generated by Olympic Steel. The default revenue input number comes from 2016 income statement of Olympic Steel. 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 ZEUS stock valuation model: a) initial revenue growth rate of 29.9% 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 7.9%, whose default value for ZEUS is calculated based on our internal credit rating of Olympic Steel, 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 Olympic Steel.
    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 ZEUS stock the variable cost ratio is equal to 102.3%.

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 ZEUS 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 Olympic Steel.

Corporate tax rate of 27% is the nominal tax rate for Olympic Steel. 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 ZEUS 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 ZEUS are equal to 17.6%.

Life of production assets of 9.8 years is the average useful life of capital assets used in Olympic Steel 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 ZEUS is equal to 24.6%. 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 - $253 million for Olympic Steel - 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 10.962 million for Olympic Steel 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 Olympic Steel at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
RS Reliance Steel 74.35 8.49  str.sell
RYI Ryerson Holdin 9.55 3.46  str.sell
FSTR L.B. Foster 20.35 2.74  str.sell
HSC Harsco 19.75 8.32  str.sell
WOR Worthington In 51.21 334.74  str.buy
FRD Friedman Indus 5.80 2.14  str.sell

COMPANY NEWS

▶ New Strong Sell Stocks for August 4th   [Aug-04-17 07:56AM  Zacks]
▶ Olympic Steel posts 2Q profit   [Aug-03-17 06:23AM  Associated Press]
▶ New Strong Sell Stocks for July 20th   [Jul-20-17 11:08AM  Zacks]
▶ ETFs with exposure to Olympic Steel, Inc. : June 9, 2017   [Jun-09-17 02:05PM  Capital Cube]
▶ N.C. manufacturers disclose 200 layoffs in a week   [May-22-17 07:50AM  American City Business Journals]
▶ ETFs with exposure to Olympic Steel, Inc. : May 15, 2017   [May-15-17 04:59PM  Capital Cube]
▶ Manufacturer shuts down Chatham County plant, 51 layoffs   [May-11-17 10:15AM  American City Business Journals]
▶ ETFs with exposure to Olympic Steel, Inc. : May 5, 2017   [May-05-17 04:43PM  Capital Cube]
▶ Olympic Steel posts 1Q profit   [Apr-28-17 05:58AM  Associated Press]
▶ ETFs with exposure to Olympic Steel, Inc. : April 5, 2017   [Apr-05-17 05:48PM  Capital Cube]
▶ Olympic Steel reports 4Q loss   [06:01AM  Associated Press]
▶ Olympic Steel Announces Quarterly Cash Dividend   [Feb-14-17 08:00AM  Business Wire]
▶ Olympic Steel Announces Management Succession Planning   [Dec-15-16 04:20PM  Business Wire]
▶ Is Olympic Steel, Inc. (ZEUS) A Good Stock to Buy?   [Dec-12-16 11:11PM  at Insider Monkey]
▶ Maurer Joins Olympic Steel as Regional Sales Manager   [Oct-06-16 08:00AM  Business Wire]
▶ U.S. Steel: That's All Folks?   [09:56AM  at Barrons.com]
▶ Olympic Steel Announces Quarterly Cash Dividend   [Aug-10-16 07:27AM  Business Wire]
Financial statements of ZEUS
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.