Intrinsic value of ABB ADR - ABB

Previous Close

$28.16

  Intrinsic Value

$27.59

stock screener

  Rating & Target

hold

-2%

Previous close

$28.16

 
Intrinsic value

$27.59

 
Up/down potential

-2%

 
Rating

hold

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

We calculate the intrinsic value of ABB 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  -4.66
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.11
  5.09
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
Revenue, $m
  33,828
  35,756
  37,769
  39,872
  42,069
  44,366
  46,767
  49,280
  51,909
  54,660
  57,542
  60,559
  63,720
  67,032
  70,503
  74,141
  77,955
  81,954
  86,147
  90,545
  95,158
  99,997
  105,073
  110,399
  115,988
  121,852
  128,006
  134,464
  141,242
  148,356
  155,823
Variable operating expenses, $m
 
  32,627
  34,410
  36,273
  38,220
  40,254
  42,382
  44,608
  46,937
  49,375
  51,927
  53,650
  56,451
  59,385
  62,460
  65,683
  69,061
  72,604
  76,319
  80,215
  84,302
  88,589
  93,086
  97,804
  102,755
  107,950
  113,402
  119,124
  125,128
  131,431
  138,045
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
  30,841
  32,627
  34,410
  36,273
  38,220
  40,254
  42,382
  44,608
  46,937
  49,375
  51,927
  53,650
  56,451
  59,385
  62,460
  65,683
  69,061
  72,604
  76,319
  80,215
  84,302
  88,589
  93,086
  97,804
  102,755
  107,950
  113,402
  119,124
  125,128
  131,431
  138,045
Operating income, $m
  2,987
  3,129
  3,359
  3,599
  3,849
  4,111
  4,385
  4,672
  4,972
  5,286
  5,615
  6,909
  7,270
  7,647
  8,043
  8,458
  8,894
  9,350
  9,828
  10,330
  10,856
  11,408
  11,987
  12,595
  13,233
  13,902
  14,604
  15,340
  16,114
  16,925
  17,777
EBITDA, $m
  4,122
  4,479
  4,731
  4,995
  5,270
  5,558
  5,858
  6,173
  6,502
  6,847
  7,208
  7,586
  7,982
  8,397
  8,832
  9,287
  9,765
  10,266
  10,791
  11,342
  11,920
  12,526
  13,162
  13,829
  14,529
  15,264
  16,035
  16,844
  17,693
  18,584
  19,519
Interest expense (income), $m
  213
  203
  252
  304
  358
  414
  473
  534
  599
  666
  737
  811
  888
  969
  1,054
  1,143
  1,237
  1,334
  1,437
  1,545
  1,657
  1,776
  1,900
  2,030
  2,167
  2,310
  2,460
  2,618
  2,784
  2,958
  3,140
Earnings before tax, $m
  2,799
  2,926
  3,107
  3,295
  3,492
  3,697
  3,913
  4,138
  4,373
  4,620
  4,878
  6,098
  6,381
  6,678
  6,989
  7,315
  7,657
  8,015
  8,391
  8,785
  9,199
  9,633
  10,088
  10,565
  11,066
  11,592
  12,143
  12,722
  13,330
  13,968
  14,637
Tax expense, $m
  781
  790
  839
  890
  943
  998
  1,056
  1,117
  1,181
  1,247
  1,317
  1,646
  1,723
  1,803
  1,887
  1,975
  2,067
  2,164
  2,266
  2,372
  2,484
  2,601
  2,724
  2,853
  2,988
  3,130
  3,279
  3,435
  3,599
  3,771
  3,952
Net income, $m
  1,899
  2,136
  2,268
  2,405
  2,549
  2,699
  2,856
  3,020
  3,192
  3,372
  3,561
  4,452
  4,658
  4,875
  5,102
  5,340
  5,590
  5,851
  6,126
  6,413
  6,715
  7,032
  7,364
  7,712
  8,078
  8,462
  8,865
  9,287
  9,731
  10,196
  10,685

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  5,597
  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
  39,202
  35,508
  37,507
  39,595
  41,777
  44,057
  46,442
  48,937
  51,548
  54,280
  57,142
  60,138
  63,277
  66,566
  70,013
  73,626
  77,413
  81,384
  85,548
  89,916
  94,497
  99,302
  104,343
  109,632
  115,182
  121,005
  127,116
  133,529
  140,260
  147,325
  154,739
Adjusted assets (=assets-cash), $m
  33,605
  35,508
  37,507
  39,595
  41,777
  44,057
  46,442
  48,937
  51,548
  54,280
  57,142
  60,138
  63,277
  66,566
  70,013
  73,626
  77,413
  81,384
  85,548
  89,916
  94,497
  99,302
  104,343
  109,632
  115,182
  121,005
  127,116
  133,529
  140,260
  147,325
  154,739
Revenue / Adjusted assets
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
  1.007
Average production assets, $m
  4,805
  5,077
  5,363
  5,662
  5,974
  6,300
  6,641
  6,998
  7,371
  7,762
  8,171
  8,599
  9,048
  9,519
  10,011
  10,528
  11,070
  11,637
  12,233
  12,857
  13,512
  14,200
  14,920
  15,677
  16,470
  17,303
  18,177
  19,094
  20,056
  21,067
  22,127
Working capital, $m
  5,903
  1,394
  1,473
  1,555
  1,641
  1,730
  1,824
  1,922
  2,024
  2,132
  2,244
  2,362
  2,485
  2,614
  2,750
  2,892
  3,040
  3,196
  3,360
  3,531
  3,711
  3,900
  4,098
  4,306
  4,524
  4,752
  4,992
  5,244
  5,508
  5,786
  6,077
Total debt, $m
  6,803
  7,201
  8,676
  10,217
  11,827
  13,510
  15,270
  17,112
  19,038
  21,055
  23,167
  25,378
  27,695
  30,122
  32,666
  35,332
  38,127
  41,058
  44,131
  47,354
  50,734
  54,281
  58,001
  61,904
  66,000
  70,298
  74,808
  79,541
  84,508
  89,722
  95,194
Total liabilities, $m
  25,807
  26,205
  27,680
  29,221
  30,831
  32,514
  34,274
  36,116
  38,042
  40,059
  42,171
  44,382
  46,699
  49,126
  51,670
  54,336
  57,131
  60,062
  63,135
  66,358
  69,738
  73,285
  77,005
  80,908
  85,004
  89,302
  93,812
  98,545
  103,512
  108,726
  114,198
Total equity, $m
  13,395
  9,303
  9,827
  10,374
  10,945
  11,543
  12,168
  12,822
  13,506
  14,221
  14,971
  15,756
  16,579
  17,440
  18,343
  19,290
  20,282
  21,323
  22,414
  23,558
  24,758
  26,017
  27,338
  28,724
  30,178
  31,703
  33,304
  34,985
  36,748
  38,599
  40,542
Total liabilities and equity, $m
  39,202
  35,508
  37,507
  39,595
  41,776
  44,057
  46,442
  48,938
  51,548
  54,280
  57,142
  60,138
  63,278
  66,566
  70,013
  73,626
  77,413
  81,385
  85,549
  89,916
  94,496
  99,302
  104,343
  109,632
  115,182
  121,005
  127,116
  133,530
  140,260
  147,325
  154,740
Debt-to-equity ratio
  0.508
  0.770
  0.880
  0.980
  1.080
  1.170
  1.250
  1.330
  1.410
  1.480
  1.550
  1.610
  1.670
  1.730
  1.780
  1.830
  1.880
  1.930
  1.970
  2.010
  2.050
  2.090
  2.120
  2.160
  2.190
  2.220
  2.250
  2.270
  2.300
  2.320
  2.350
Adjusted equity ratio
  0.232
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,899
  2,136
  2,268
  2,405
  2,549
  2,699
  2,856
  3,020
  3,192
  3,372
  3,561
  4,452
  4,658
  4,875
  5,102
  5,340
  5,590
  5,851
  6,126
  6,413
  6,715
  7,032
  7,364
  7,712
  8,078
  8,462
  8,865
  9,287
  9,731
  10,196
  10,685
Depreciation, amort., depletion, $m
  1,135
  1,350
  1,372
  1,396
  1,420
  1,446
  1,473
  1,501
  1,530
  1,561
  1,593
  677
  712
  749
  788
  829
  872
  916
  963
  1,012
  1,064
  1,118
  1,175
  1,234
  1,297
  1,362
  1,431
  1,503
  1,579
  1,659
  1,742
Funds from operations, $m
  4,516
  3,486
  3,640
  3,801
  3,969
  4,145
  4,329
  4,522
  4,723
  4,934
  5,154
  5,129
  5,371
  5,625
  5,890
  6,169
  6,461
  6,768
  7,089
  7,426
  7,779
  8,150
  8,539
  8,947
  9,375
  9,824
  10,296
  10,791
  11,310
  11,855
  12,427
Change in working capital, $m
  673
  75
  79
  82
  86
  90
  94
  98
  103
  107
  112
  118
  123
  129
  135
  142
  149
  156
  164
  172
  180
  189
  198
  208
  218
  229
  240
  252
  264
  277
  291
Cash from operations, $m
  3,843
  3,411
  3,562
  3,719
  3,884
  4,056
  4,236
  4,424
  4,620
  4,826
  5,042
  5,011
  5,248
  5,495
  5,755
  6,027
  6,312
  6,612
  6,925
  7,254
  7,599
  7,961
  8,341
  8,739
  9,157
  9,596
  10,056
  10,539
  11,046
  11,578
  12,136
Maintenance CAPEX, $m
  0
  -378
  -400
  -422
  -446
  -470
  -496
  -523
  -551
  -580
  -611
  -643
  -677
  -712
  -749
  -788
  -829
  -872
  -916
  -963
  -1,012
  -1,064
  -1,118
  -1,175
  -1,234
  -1,297
  -1,362
  -1,431
  -1,503
  -1,579
  -1,659
New CAPEX, $m
  -831
  -273
  -286
  -299
  -312
  -326
  -341
  -357
  -373
  -391
  -409
  -428
  -449
  -470
  -493
  -517
  -542
  -568
  -595
  -624
  -655
  -687
  -721
  -756
  -794
  -833
  -874
  -917
  -962
  -1,010
  -1,060
Cash from investing activities, $m
  -1,305
  -651
  -686
  -721
  -758
  -796
  -837
  -880
  -924
  -971
  -1,020
  -1,071
  -1,126
  -1,182
  -1,242
  -1,305
  -1,371
  -1,440
  -1,511
  -1,587
  -1,667
  -1,751
  -1,839
  -1,931
  -2,028
  -2,130
  -2,236
  -2,348
  -2,465
  -2,589
  -2,719
Free cash flow, $m
  2,538
  2,760
  2,876
  2,998
  3,126
  3,259
  3,398
  3,544
  3,696
  3,855
  4,022
  3,939
  4,122
  4,313
  4,513
  4,722
  4,942
  5,172
  5,413
  5,666
  5,932
  6,210
  6,502
  6,808
  7,129
  7,466
  7,820
  8,191
  8,580
  8,988
  9,417
Issuance/(repayment) of debt, $m
  -489
  1,401
  1,475
  1,541
  1,610
  1,683
  1,760
  1,841
  1,927
  2,017
  2,112
  2,211
  2,317
  2,427
  2,544
  2,666
  2,795
  2,931
  3,073
  3,223
  3,381
  3,546
  3,720
  3,903
  4,096
  4,298
  4,510
  4,733
  4,967
  5,214
  5,472
Issuance/(repurchase) of shares, $m
  -1,107
  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  
  -3,355
  1,401
  1,475
  1,541
  1,610
  1,683
  1,760
  1,841
  1,927
  2,017
  2,112
  2,211
  2,317
  2,427
  2,544
  2,666
  2,795
  2,931
  3,073
  3,223
  3,381
  3,546
  3,720
  3,903
  4,096
  4,298
  4,510
  4,733
  4,967
  5,214
  5,472
Total cash flow (excl. dividends), $m
  -921
  4,160
  4,352
  4,539
  4,736
  4,942
  5,159
  5,385
  5,623
  5,872
  6,133
  6,151
  6,438
  6,740
  7,056
  7,388
  7,737
  8,103
  8,487
  8,890
  9,312
  9,756
  10,222
  10,711
  11,225
  11,764
  12,330
  12,924
  13,547
  14,202
  14,889
Retained Cash Flow (-), $m
  1,086
  -502
  -524
  -547
  -572
  -598
  -625
  -654
  -684
  -716
  -750
  -785
  -822
  -862
  -903
  -947
  -992
  -1,040
  -1,091
  -1,144
  -1,200
  -1,259
  -1,321
  -1,386
  -1,454
  -1,526
  -1,601
  -1,680
  -1,763
  -1,851
  -1,943
Prev. year cash balance distribution, $m
 
  4,594
  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
 
  8,252
  3,828
  3,992
  4,165
  4,345
  4,534
  4,731
  4,939
  5,156
  5,383
  5,366
  5,616
  5,878
  6,153
  6,442
  6,745
  7,062
  7,396
  7,745
  8,112
  8,497
  8,901
  9,326
  9,771
  10,238
  10,728
  11,243
  11,784
  12,351
  12,946
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
 
  7,912
  3,504
  3,474
  3,429
  3,368
  3,290
  3,196
  3,087
  2,962
  2,822
  2,548
  2,396
  2,235
  2,066
  1,891
  1,714
  1,537
  1,362
  1,193
  1,031
  879
  739
  611
  498
  398
  313
  241
  182
  135
  97
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

ABB Ltd (ABB) is a holding company. The Company's segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure. The Electrification Products segment manufactures and sells products and services including low and medium-voltage switchgear, breakers, switches and control products. The Robotics and Motion segment manufactures and sells motors, generators, variable speed drives and robots and robotics. The Industrial Automation segment develops and sells control and plant optimization systems, and automation products and solutions. The Power Grids segment supplies power and automation products, systems, and service and software solutions.

FINANCIAL RATIOS  of  ABB ADR (ABB)

Valuation Ratios
P/E Ratio 31.7
Price to Sales 1.8
Price to Book 4.5
Price to Tangible Book
Price to Cash Flow 15.7
Price to Free Cash Flow 20
Growth Rates
Sales Growth Rate -4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5.1%
Cap. Spend. - 3 Yr. Gr. Rate -5.6%
Financial Strength
Quick Ratio 6
Current Ratio 0.1
LT Debt to Equity 43.3%
Total Debt to Equity 50.8%
Interest Coverage 14
Management Effectiveness
Return On Assets 5.1%
Ret/ On Assets - 3 Yr. Avg. 5.3%
Return On Total Capital 9%
Ret/ On T. Cap. - 3 Yr. Avg. 9.2%
Return On Equity 13.6%
Return On Equity - 3 Yr. Avg. 13.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 28.8%
Gross Margin - 3 Yr. Avg. 28.5%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 12.6%
Operating Margin 8.8%
Oper. Margin - 3 Yr. Avg. 9.3%
Pre-Tax Margin 8.3%
Pre-Tax Margin - 3 Yr. Avg. 8.7%
Net Profit Margin 5.6%
Net Profit Margin - 3 Yr. Avg. 5.9%
Effective Tax Rate 27.9%
Eff/ Tax Rate - 3 Yr. Avg. 28.8%
Payout Ratio 0%

ABB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ABB stock intrinsic value calculation we used $33828 million for the last fiscal year's total revenue generated by ABB ADR. The default revenue input number comes from 2016 income statement of ABB 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 ABB stock valuation model: a) initial revenue growth rate of 5.7% 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 ABB is calculated based on our internal credit rating of ABB 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 ABB 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 ABB stock the variable cost ratio is equal to 91.4%.

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 ABB 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 ABB ADR.

Corporate tax rate of 27% is the nominal tax rate for ABB 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 ABB 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 ABB are equal to 14.2%.

Life of production assets of 12.7 years is the average useful life of capital assets used in ABB 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 ABB is equal to 3.9%. 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 - $13395 million for ABB 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 2149.51 million for ABB 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 ABB ADR at the current share price and the inputted number of shares is $60.5 billion.

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COMPANY NEWS

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▶ ETFs with exposure to ABB Ltd. : December 19, 2017   [Dec-19-17 12:09PM  Capital Cube]
▶ ETFs with exposure to ABB Ltd. : December 8, 2017   [Dec-08-17 12:14PM  Capital Cube]
▶ ABB helps Toronto railway cut emissions to zero   [Dec-07-17 06:00AM  CNW Group]
▶ ETFs with exposure to ABB Ltd. : November 27, 2017   [Nov-27-17 11:44AM  Capital Cube]
▶ 9 Stocks Steven Cohen Keeps Buying   [Nov-22-17 03:57PM  GuruFocus.com]
▶ ABB Campus Montreal LEEDs with Silver   [Nov-21-17 07:00AM  CNW Group]
▶ ETFs with exposure to ABB Ltd. : November 17, 2017   [Nov-17-17 11:15AM  Capital Cube]
▶ ETFs with exposure to ABB Ltd. : November 7, 2017   [Nov-07-17 09:32AM  Capital Cube]
▶ ETFs with exposure to ABB Ltd. : October 25, 2017   [Oct-25-17 09:44AM  Capital Cube]
▶ 3 Stocks to Buy for the Next Generation   [08:00AM  Motley Fool]
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▶ GE Sells Industrial Solutions Segment to ABB   [Oct-01-17 04:30PM  Motley Fool]
▶ A Wall Street Wedding (and a Divorce)   [03:18PM  Motley Fool]
▶ [$$] GE Agrees to Sell Industrial Unit to ABB for $2.6 Billion   [Sep-25-17 11:02AM  The Wall Street Journal]
▶ ETFs with exposure to ABB Ltd. : August 14, 2017   [Aug-14-17 04:03PM  Capital Cube]
▶ ETFs with exposure to ABB Ltd. : August 3, 2017   [Aug-03-17 07:26PM  Capital Cube]
▶ ABB beats 2Q profit forecasts   [12:31AM  Associated Press]
▶ SolarEdge Outshines Competitors, Analyst Upgrades   [Jul-18-17 09:21AM  Benzinga]
▶ The World's Top 4 Alternative Energy Companies in 2017   [Jul-12-17 04:23PM  Investopedia]
▶ ETFs with exposure to ABB Ltd. : June 12, 2017   [Jun-12-17 01:45PM  Capital Cube]
▶ ABB's YuMi rings the NASDAQ opening bell   [11:42AM  PR Newswire]
▶ 3 Top Dividend Stocks in Electrical Equipment Industry   [Jun-09-17 10:17AM  Motley Fool]
▶ ETFs with exposure to ABB Ltd. : May 30, 2017   [May-30-17 12:14PM  Capital Cube]
▶ ABB strengthens commitment to Canada   [May-24-17 10:00AM  PR Newswire]
▶ ETFs with exposure to ABB Ltd. : May 19, 2017   [May-19-17 01:37PM  Capital Cube]
▶ Better Buy: Caterpillar Inc. vs ABB Ltd.   [May-16-17 10:45AM  Motley Fool]
▶ ETFs with exposure to ABB Ltd. : May 8, 2017   [May-08-17 04:05PM  Capital Cube]
▶ ETFs with exposure to ABB Ltd. : April 26, 2017   [Apr-26-17 03:03PM  Capital Cube]
▶ The Best Electrical Equipment Stocks to Buy in 2017   [Apr-17-17 11:30AM  Motley Fool]
▶ The $20 Billion Takeover Target That Wasn't   [Apr-05-17 03:09PM  Bloomberg]
Financial statements of ABB
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