Intrinsic value of Zhaopin ADR - ZPIN

Previous Close

$18.46

  Intrinsic Value

$72.54

stock screener

  Rating & Target

str. buy

+293%

  Value-price divergence*

+2378%

Previous close

$18.46

 
Intrinsic value

$72.54

 
Up/down potential

+293%

 
Rating

str. buy

 
Value-price divergence*

+2378%

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

We calculate the intrinsic value of ZPIN 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 1.0

 

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, %
  19.57
  31.50
  28.85
  26.47
  24.32
  22.39
  20.65
  19.08
  17.67
  16.41
  15.27
  14.24
  13.32
  12.48
  11.74
  11.06
  10.46
  9.91
  9.42
  8.98
  8.58
  8.22
  7.90
  7.61
  7.35
  7.11
  6.90
  6.71
  6.54
  6.39
  6.25
Revenue, $m
  220
  289
  373
  471
  586
  717
  865
  1,030
  1,213
  1,412
  1,627
  1,859
  2,106
  2,369
  2,647
  2,940
  3,248
  3,569
  3,906
  4,256
  4,621
  5,001
  5,397
  5,807
  6,234
  6,677
  7,138
  7,617
  8,116
  8,634
  9,174
Variable operating expenses, $m
 
  225
  289
  365
  454
  555
  670
  797
  938
  1,092
  1,258
  1,437
  1,628
  1,831
  2,046
  2,272
  2,510
  2,759
  3,019
  3,290
  3,572
  3,866
  4,171
  4,488
  4,818
  5,161
  5,517
  5,888
  6,273
  6,673
  7,090
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
  176
  225
  289
  365
  454
  555
  670
  797
  938
  1,092
  1,258
  1,437
  1,628
  1,831
  2,046
  2,272
  2,510
  2,759
  3,019
  3,290
  3,572
  3,866
  4,171
  4,488
  4,818
  5,161
  5,517
  5,888
  6,273
  6,673
  7,090
Operating income, $m
  44
  65
  84
  106
  132
  162
  196
  233
  274
  320
  369
  422
  478
  538
  601
  668
  738
  811
  887
  967
  1,049
  1,136
  1,226
  1,319
  1,416
  1,516
  1,621
  1,730
  1,843
  1,961
  2,083
EBITDA, $m
  48
  67
  86
  109
  136
  166
  201
  239
  281
  327
  377
  431
  488
  549
  614
  682
  753
  828
  906
  987
  1,072
  1,160
  1,251
  1,347
  1,446
  1,548
  1,655
  1,766
  1,882
  2,002
  2,127
Interest expense (income), $m
  1
  0
  2
  4
  6
  9
  12
  16
  20
  24
  29
  34
  40
  46
  52
  59
  66
  73
  81
  89
  98
  106
  116
  125
  135
  145
  156
  167
  179
  191
  203
Earnings before tax, $m
  50
  65
  82
  102
  126
  153
  184
  218
  255
  296
  340
  388
  439
  492
  549
  609
  672
  737
  806
  878
  952
  1,029
  1,110
  1,194
  1,281
  1,371
  1,465
  1,563
  1,664
  1,770
  1,880
Tax expense, $m
  9
  17
  22
  28
  34
  41
  50
  59
  69
  80
  92
  105
  118
  133
  148
  164
  181
  199
  218
  237
  257
  278
  300
  322
  346
  370
  396
  422
  449
  478
  508
Net income, $m
  41
  47
  60
  75
  92
  112
  134
  159
  186
  216
  248
  283
  320
  360
  401
  445
  490
  538
  588
  641
  695
  752
  810
  871
  935
  1,001
  1,069
  1,141
  1,215
  1,292
  1,372

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  250
  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
  376
  241
  310
  393
  488
  597
  721
  858
  1,010
  1,175
  1,355
  1,548
  1,754
  1,973
  2,204
  2,448
  2,704
  2,972
  3,252
  3,544
  3,848
  4,164
  4,493
  4,835
  5,191
  5,560
  5,944
  6,343
  6,757
  7,189
  7,638
Adjusted assets (=assets-cash), $m
  126
  241
  310
  393
  488
  597
  721
  858
  1,010
  1,175
  1,355
  1,548
  1,754
  1,973
  2,204
  2,448
  2,704
  2,972
  3,252
  3,544
  3,848
  4,164
  4,493
  4,835
  5,191
  5,560
  5,944
  6,343
  6,757
  7,189
  7,638
Revenue / Adjusted assets
  1.746
  1.199
  1.203
  1.198
  1.201
  1.201
  1.200
  1.200
  1.201
  1.202
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
  1.201
Average production assets, $m
  11
  14
  18
  23
  28
  34
  42
  49
  58
  68
  78
  89
  101
  114
  127
  141
  156
  171
  187
  204
  222
  240
  259
  279
  299
  321
  343
  366
  390
  414
  440
Working capital, $m
  184
  -29
  -37
  -47
  -59
  -72
  -87
  -103
  -121
  -141
  -163
  -186
  -211
  -237
  -265
  -294
  -325
  -357
  -391
  -426
  -462
  -500
  -540
  -581
  -623
  -668
  -714
  -762
  -812
  -863
  -917
Total debt, $m
  25
  48
  105
  173
  253
  343
  445
  559
  685
  822
  971
  1,131
  1,302
  1,483
  1,675
  1,877
  2,090
  2,312
  2,544
  2,786
  3,038
  3,300
  3,573
  3,856
  4,151
  4,457
  4,775
  5,106
  5,450
  5,808
  6,180
Total liabilities, $m
  176
  200
  257
  325
  405
  495
  597
  711
  837
  974
  1,123
  1,283
  1,454
  1,635
  1,827
  2,029
  2,242
  2,464
  2,696
  2,938
  3,190
  3,452
  3,725
  4,008
  4,303
  4,609
  4,927
  5,258
  5,602
  5,960
  6,332
Total equity, $m
  199
  41
  53
  67
  83
  102
  123
  147
  173
  201
  232
  265
  300
  337
  377
  419
  462
  508
  556
  606
  658
  712
  768
  827
  888
  951
  1,016
  1,085
  1,156
  1,229
  1,306
Total liabilities and equity, $m
  375
  241
  310
  392
  488
  597
  720
  858
  1,010
  1,175
  1,355
  1,548
  1,754
  1,972
  2,204
  2,448
  2,704
  2,972
  3,252
  3,544
  3,848
  4,164
  4,493
  4,835
  5,191
  5,560
  5,943
  6,343
  6,758
  7,189
  7,638
Debt-to-equity ratio
  0.126
  1.160
  1.980
  2.580
  3.030
  3.360
  3.610
  3.810
  3.970
  4.090
  4.190
  4.270
  4.340
  4.400
  4.440
  4.480
  4.520
  4.550
  4.570
  4.600
  4.620
  4.630
  4.650
  4.660
  4.680
  4.690
  4.700
  4.710
  4.720
  4.720
  4.730
Adjusted equity ratio
  -0.405
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171
  0.171

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  41
  47
  60
  75
  92
  112
  134
  159
  186
  216
  248
  283
  320
  360
  401
  445
  490
  538
  588
  641
  695
  752
  810
  871
  935
  1,001
  1,069
  1,141
  1,215
  1,292
  1,372
Depreciation, amort., depletion, $m
  4
  2
  3
  3
  4
  4
  5
  6
  7
  8
  9
  9
  10
  11
  13
  14
  16
  17
  19
  20
  22
  24
  26
  28
  30
  32
  34
  37
  39
  41
  44
Funds from operations, $m
  78
  50
  63
  78
  96
  116
  139
  165
  193
  224
  257
  292
  330
  371
  414
  459
  506
  555
  607
  661
  717
  776
  836
  899
  965
  1,033
  1,104
  1,177
  1,254
  1,334
  1,416
Change in working capital, $m
  16
  -7
  -8
  -10
  -11
  -13
  -15
  -17
  -18
  -20
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
Cash from operations, $m
  62
  57
  71
  88
  107
  129
  154
  181
  211
  243
  278
  315
  355
  397
  441
  488
  537
  588
  641
  696
  754
  814
  876
  940
  1,008
  1,077
  1,150
  1,225
  1,304
  1,385
  1,470
Maintenance CAPEX, $m
  0
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -13
  -14
  -16
  -17
  -19
  -20
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -37
  -39
  -41
New CAPEX, $m
  -4
  -3
  -4
  -5
  -6
  -6
  -7
  -8
  -9
  -10
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
Cash from investing activities, $m
  -7
  -4
  -5
  -7
  -8
  -9
  -10
  -12
  -14
  -16
  -17
  -19
  -21
  -23
  -24
  -27
  -29
  -31
  -33
  -36
  -38
  -40
  -43
  -46
  -48
  -51
  -54
  -57
  -61
  -64
  -67
Free cash flow, $m
  55
  52
  66
  81
  99
  120
  143
  169
  197
  228
  261
  296
  334
  374
  417
  461
  508
  557
  607
  661
  716
  773
  833
  895
  959
  1,026
  1,096
  1,168
  1,243
  1,322
  1,403
Issuance/(repayment) of debt, $m
  -19
  48
  58
  68
  79
  91
  102
  114
  126
  137
  149
  160
  171
  182
  192
  202
  212
  222
  232
  242
  252
  262
  273
  283
  295
  306
  318
  331
  344
  358
  372
Issuance/(repurchase) of shares, $m
  10
  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  
  -9
  48
  58
  68
  79
  91
  102
  114
  126
  137
  149
  160
  171
  182
  192
  202
  212
  222
  232
  242
  252
  262
  273
  283
  295
  306
  318
  331
  344
  358
  372
Total cash flow (excl. dividends), $m
  52
  100
  123
  149
  179
  211
  246
  283
  323
  365
  410
  456
  505
  556
  609
  663
  720
  779
  840
  903
  968
  1,035
  1,105
  1,178
  1,254
  1,332
  1,414
  1,499
  1,587
  1,679
  1,775
Retained Cash Flow (-), $m
  -51
  -10
  -12
  -14
  -16
  -19
  -21
  -24
  -26
  -28
  -31
  -33
  -35
  -37
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
Prev. year cash balance distribution, $m
 
  168
  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
 
  258
  111
  135
  162
  192
  224
  260
  297
  337
  379
  423
  470
  519
  569
  622
  676
  733
  792
  853
  916
  981
  1,049
  1,120
  1,193
  1,269
  1,348
  1,431
  1,516
  1,606
  1,699
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
 
  247
  102
  118
  134
  149
  163
  175
  186
  194
  199
  201
  201
  197
  191
  183
  172
  159
  146
  131
  116
  101
  87
  73
  61
  49
  39
  31
  23
  18
  13
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

Zhaopin Limited, through its subsidiaries, operates online recruitment platform in the People’s Republic of China. It operates zhaopin.com, a career-focused Website that provides online recruitment services, including classified job postings and display advertisements, resume access, and other online value-added recruitment services, as well as mobile applications. The company also offers campus recruitment services, such as selecting campuses, organizing recruiting events, collecting and managing resumes, and conducting interviews and assessment tests with potential candidates; and online and offline assessment services. In addition, it provides executive search services for mid-level professional, managerial, and junior executive positions; and online and offline education and training services to other enterprises and their employees, as well as operates highpin.cn for high-end employment positions in various industries, including information technology, financial services, real estate, automotive, and consumer products. Further, the company offers other value-added services, such as print advertising; and publishing research reports on salary and compensation, and job search trends, as well as other useful information tailored for human resources professionals. It serves multinational corporations, small and medium-sized enterprises, and state-owned entities. The company was formerly known as Zhaopin.com Limited and changed its name to Zhaopin Limited in 2002. Zhaopin Limited was founded in 1994 and is headquartered in Beijing, in the People’s Republic of China.

FINANCIAL RATIOS  of  Zhaopin ADR (ZPIN)

Valuation Ratios
P/E Ratio 56.2
Price to Sales 10.5
Price to Book 11.6
Price to Tangible Book
Price to Cash Flow 37.2
Price to Free Cash Flow 39.7
Growth Rates
Sales Growth Rate 19.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -20%
Cap. Spend. - 3 Yr. Gr. Rate 5.9%
Financial Strength
Quick Ratio 10
Current Ratio 0.5
LT Debt to Equity 0%
Total Debt to Equity 12.6%
Interest Coverage 51
Management Effectiveness
Return On Assets 11.9%
Ret/ On Assets - 3 Yr. Avg. 12.6%
Return On Total Capital 19.9%
Ret/ On T. Cap. - 3 Yr. Avg. 22.1%
Return On Equity 23.6%
Return On Equity - 3 Yr. Avg. 37.4%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 90.9%
Gross Margin - 3 Yr. Avg. 90.8%
EBITDA Margin 25%
EBITDA Margin - 3 Yr. Avg. 25.3%
Operating Margin 20%
Oper. Margin - 3 Yr. Avg. 21.3%
Pre-Tax Margin 22.7%
Pre-Tax Margin - 3 Yr. Avg. 23%
Net Profit Margin 18.6%
Net Profit Margin - 3 Yr. Avg. 18.6%
Effective Tax Rate 18%
Eff/ Tax Rate - 3 Yr. Avg. 18.2%
Payout Ratio 0%

ZPIN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ZPIN stock intrinsic value calculation we used $220 million for the last fiscal year's total revenue generated by Zhaopin ADR. The default revenue input number comes from 2016 income statement of Zhaopin 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 ZPIN stock valuation model: a) initial revenue growth rate of 31.5% 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 ZPIN is calculated based on our internal credit rating of Zhaopin 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 Zhaopin 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 ZPIN stock the variable cost ratio is equal to 77.7%.

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 ZPIN 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 Zhaopin ADR.

Corporate tax rate of 27% is the nominal tax rate for Zhaopin 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 ZPIN 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 ZPIN are equal to 4.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Zhaopin 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 ZPIN 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 - $199 million for Zhaopin 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 53.564 million for Zhaopin 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 Zhaopin ADR at the current share price and the inputted number of shares is $1.0 billion.

RELATED COMPANIES Price Int.Val. Rating
JOBS 51job ADR 57.50 43.07  hold
WUBA 58.com ADR 53.49 228.56  str.buy
DHX DHI Group 1.95 5.29  str.buy
ATHM Autohome ADR 63.56 122.11  str.buy
BITA Bitauto Holdin 36.37 51.48  str.buy
LEJU Leju Holdings 1.53 5.54  str.buy

COMPANY NEWS

▶ Zhaopin Limited Announces Special Dividend   [Jun-19-17 06:00AM  PR Newswire]
▶ Zhaopin Enters into Definitive Merger Agreement   [Apr-06-17 06:30AM  PR Newswire]
▶ These sectors are hiring in China   [Feb-21-17 12:57AM  CNBC Videos]
▶ Tencent Tops Ranking Of China's Best Employers   [Dec-11-16 08:33AM  at Forbes]
▶ Zhaopin Unveils 2016 Top 30 Employers in China   [Dec-09-16 08:30AM  PR Newswire]
▶ Maiden Holdings, Ltd. (MHLD) Hedge Funds Are Snapping Up   [Dec-07-16 05:46AM  at Insider Monkey]
▶ China Labor Market Perking Up in the Third Quarter 2016   [Oct-20-16 06:50AM  PR Newswire]
▶ Zhaopin Announces 2016 Top 100 Employers In China   [Sep-21-16 06:50AM  PR Newswire]
▶ China Labor Market Stabilizing In Second Quarter 2016   [Jul-21-16 05:00AM  PR Newswire]
▶ Zhaopin Announces New Director Appointment   [Jun-13-16 07:00AM  PR Newswire]
▶ Zhaopin Limited Announces Changes in Board Composition   [Feb-17-16 06:00AM  PR Newswire]
▶ Term Sheet Friday, January 29   [Jan-29-16 10:03AM  at Fortune]
▶ Why the SEEK Limited share price soar could soar in 2016   [Jan-19-16 08:32PM  at Motley Fool]
▶ Hedge Funds Are Dumping Zhaopin Ltd (ADR) (ZPIN)   [Nov-29  08:59AM  at Insider Monkey]
▶ Hedge Funds Are Crazy About Silver Spring Networks Inc (SSNI)   [Nov-26  10:56AM  at Insider Monkey]
▶ Zhaopin Limited Opens New Branch Office in Dongguan   [Nov-10  06:50AM  PR Newswire]
Stock chart of ZPIN Financial statements of ZPIN
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.