Intrinsic value of Aceto - ACET

Previous Close

$11.27

  Intrinsic Value

$43.50

stock screener

  Rating & Target

str. buy

+286%

  Value-price divergence*

+88%

Previous close

$11.27

 
Intrinsic value

$43.50

 
Up/down potential

+286%

 
Rating

str. buy

 
Value-price divergence*

+88%

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

We calculate the intrinsic value of ACET 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 2017), $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
2017(a)
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.13
  44.40
  40.46
  36.91
  33.72
  30.85
  28.27
  25.94
  23.84
  21.96
  20.26
  18.74
  17.36
  16.13
  15.01
  14.01
  13.11
  12.30
  11.57
  10.91
  10.32
  9.79
  9.31
  8.88
  8.49
  8.14
  7.83
  7.55
  7.29
  7.06
  6.86
Revenue, $m
  638
  921
  1,294
  1,772
  2,369
  3,100
  3,976
  5,008
  6,202
  7,564
  9,096
  10,801
  12,676
  14,721
  16,931
  19,304
  21,835
  24,521
  27,358
  30,344
  33,476
  36,753
  40,175
  43,743
  47,458
  51,322
  55,340
  59,516
  63,855
  68,364
  73,051
Variable operating expenses, $m
 
  816
  1,136
  1,547
  2,061
  2,689
  3,443
  4,330
  5,356
  6,527
  7,845
  9,287
  10,900
  12,658
  14,558
  16,598
  18,775
  21,084
  23,524
  26,091
  28,784
  31,602
  34,545
  37,613
  40,807
  44,129
  47,584
  51,175
  54,906
  58,783
  62,813
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
  608
  816
  1,136
  1,547
  2,061
  2,689
  3,443
  4,330
  5,356
  6,527
  7,845
  9,287
  10,900
  12,658
  14,558
  16,598
  18,775
  21,084
  23,524
  26,091
  28,784
  31,602
  34,545
  37,613
  40,807
  44,129
  47,584
  51,175
  54,906
  58,783
  62,813
Operating income, $m
  31
  105
  158
  225
  308
  411
  534
  678
  845
  1,036
  1,251
  1,514
  1,777
  2,063
  2,373
  2,705
  3,060
  3,437
  3,834
  4,253
  4,692
  5,151
  5,630
  6,130
  6,651
  7,193
  7,756
  8,341
  8,949
  9,581
  10,238
EBITDA, $m
  44
  139
  196
  268
  359
  469
  602
  758
  939
  1,145
  1,377
  1,635
  1,919
  2,228
  2,563
  2,922
  3,305
  3,712
  4,141
  4,593
  5,067
  5,563
  6,082
  6,622
  7,184
  7,769
  8,377
  9,009
  9,666
  10,349
  11,058
Interest expense (income), $m
  3
  12
  22
  34
  50
  71
  96
  125
  160
  201
  247
  299
  357
  421
  490
  565
  646
  732
  823
  920
  1,021
  1,128
  1,239
  1,355
  1,476
  1,603
  1,734
  1,870
  2,012
  2,160
  2,313
Earnings before tax, $m
  17
  94
  136
  190
  258
  340
  438
  553
  685
  835
  1,004
  1,214
  1,419
  1,642
  1,882
  2,140
  2,414
  2,704
  3,011
  3,333
  3,670
  4,023
  4,392
  4,775
  5,175
  5,590
  6,022
  6,471
  6,937
  7,421
  7,925
Tax expense, $m
  6
  25
  37
  51
  70
  92
  118
  149
  185
  226
  271
  328
  383
  443
  508
  578
  652
  730
  813
  900
  991
  1,086
  1,186
  1,289
  1,397
  1,509
  1,626
  1,747
  1,873
  2,004
  2,140
Net income, $m
  11
  68
  99
  139
  188
  248
  320
  404
  500
  610
  733
  887
  1,036
  1,199
  1,374
  1,562
  1,762
  1,974
  2,198
  2,433
  2,679
  2,937
  3,206
  3,486
  3,777
  4,081
  4,396
  4,723
  5,064
  5,418
  5,785

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  58
  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
  1,041
  1,420
  1,994
  2,730
  3,650
  4,777
  6,127
  7,716
  9,556
  11,654
  14,016
  16,642
  19,532
  22,682
  26,088
  29,744
  33,644
  37,782
  42,154
  46,755
  51,581
  56,631
  61,904
  67,401
  73,124
  79,079
  85,269
  91,704
  98,390
  105,338
  112,560
Adjusted assets (=assets-cash), $m
  983
  1,420
  1,994
  2,730
  3,650
  4,777
  6,127
  7,716
  9,556
  11,654
  14,016
  16,642
  19,532
  22,682
  26,088
  29,744
  33,644
  37,782
  42,154
  46,755
  51,581
  56,631
  61,904
  67,401
  73,124
  79,079
  85,269
  91,704
  98,390
  105,338
  112,560
Revenue / Adjusted assets
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
Average production assets, $m
  187
  270
  379
  519
  694
  908
  1,165
  1,467
  1,817
  2,216
  2,665
  3,165
  3,714
  4,313
  4,961
  5,656
  6,398
  7,185
  8,016
  8,891
  9,808
  10,769
  11,771
  12,817
  13,905
  15,037
  16,215
  17,438
  18,710
  20,031
  21,404
Working capital, $m
  251
  298
  419
  574
  768
  1,004
  1,288
  1,622
  2,009
  2,451
  2,947
  3,499
  4,107
  4,770
  5,486
  6,254
  7,075
  7,945
  8,864
  9,831
  10,846
  11,908
  13,017
  14,173
  15,376
  16,628
  17,930
  19,283
  20,689
  22,150
  23,669
Total debt, $m
  354
  615
  977
  1,441
  2,021
  2,730
  3,581
  4,582
  5,741
  7,063
  8,551
  10,206
  12,026
  14,011
  16,156
  18,460
  20,917
  23,524
  26,278
  29,176
  32,217
  35,398
  38,720
  42,183
  45,789
  49,541
  53,441
  57,494
  61,707
  66,084
  70,634
Total liabilities, $m
  633
  894
  1,256
  1,720
  2,300
  3,009
  3,860
  4,861
  6,020
  7,342
  8,830
  10,485
  12,305
  14,290
  16,435
  18,739
  21,196
  23,803
  26,557
  29,455
  32,496
  35,677
  38,999
  42,462
  46,068
  49,820
  53,720
  57,773
  61,986
  66,363
  70,913
Total equity, $m
  408
  525
  738
  1,010
  1,351
  1,767
  2,267
  2,855
  3,536
  4,312
  5,186
  6,158
  7,227
  8,392
  9,653
  11,005
  12,448
  13,979
  15,597
  17,299
  19,085
  20,953
  22,904
  24,938
  27,056
  29,259
  31,550
  33,930
  36,404
  38,975
  41,647
Total liabilities and equity, $m
  1,041
  1,419
  1,994
  2,730
  3,651
  4,776
  6,127
  7,716
  9,556
  11,654
  14,016
  16,643
  19,532
  22,682
  26,088
  29,744
  33,644
  37,782
  42,154
  46,754
  51,581
  56,630
  61,903
  67,400
  73,124
  79,079
  85,270
  91,703
  98,390
  105,338
  112,560
Debt-to-equity ratio
  0.868
  1.170
  1.320
  1.430
  1.500
  1.540
  1.580
  1.600
  1.620
  1.640
  1.650
  1.660
  1.660
  1.670
  1.670
  1.680
  1.680
  1.680
  1.680
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.690
  1.700
  1.700
  1.700
Adjusted equity ratio
  0.356
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  11
  68
  99
  139
  188
  248
  320
  404
  500
  610
  733
  887
  1,036
  1,199
  1,374
  1,562
  1,762
  1,974
  2,198
  2,433
  2,679
  2,937
  3,206
  3,486
  3,777
  4,081
  4,396
  4,723
  5,064
  5,418
  5,785
Depreciation, amort., depletion, $m
  13
  34
  38
  44
  50
  59
  68
  80
  93
  109
  126
  121
  142
  165
  190
  217
  245
  275
  307
  341
  376
  413
  451
  491
  533
  576
  621
  668
  717
  767
  820
Funds from operations, $m
  8
  102
  138
  183
  239
  307
  388
  483
  593
  718
  859
  1,008
  1,178
  1,364
  1,564
  1,779
  2,007
  2,250
  2,505
  2,774
  3,055
  3,350
  3,657
  3,977
  4,310
  4,657
  5,017
  5,392
  5,781
  6,185
  6,605
Change in working capital, $m
  -24
  92
  121
  155
  194
  237
  284
  334
  387
  441
  497
  552
  608
  662
  716
  769
  820
  870
  919
  967
  1,015
  1,062
  1,109
  1,156
  1,204
  1,252
  1,302
  1,353
  1,406
  1,461
  1,519
Cash from operations, $m
  32
  11
  17
  28
  45
  70
  104
  149
  207
  277
  362
  456
  571
  702
  848
  1,010
  1,187
  1,379
  1,586
  1,806
  2,040
  2,288
  2,548
  2,821
  3,107
  3,405
  3,715
  4,039
  4,375
  4,724
  5,087
Maintenance CAPEX, $m
  0
  -7
  -10
  -15
  -20
  -27
  -35
  -45
  -56
  -70
  -85
  -102
  -121
  -142
  -165
  -190
  -217
  -245
  -275
  -307
  -341
  -376
  -413
  -451
  -491
  -533
  -576
  -621
  -668
  -717
  -767
New CAPEX, $m
  -12
  -83
  -109
  -140
  -175
  -214
  -257
  -302
  -350
  -399
  -449
  -499
  -550
  -599
  -648
  -695
  -742
  -787
  -831
  -875
  -918
  -960
  -1,003
  -1,045
  -1,088
  -1,132
  -1,177
  -1,223
  -1,271
  -1,321
  -1,373
Cash from investing activities, $m
  -10
  -90
  -119
  -155
  -195
  -241
  -292
  -347
  -406
  -469
  -534
  -601
  -671
  -741
  -813
  -885
  -959
  -1,032
  -1,106
  -1,182
  -1,259
  -1,336
  -1,416
  -1,496
  -1,579
  -1,665
  -1,753
  -1,844
  -1,939
  -2,038
  -2,140
Free cash flow, $m
  22
  -80
  -103
  -127
  -150
  -171
  -187
  -198
  -200
  -191
  -172
  -146
  -100
  -40
  35
  125
  229
  347
  479
  624
  782
  952
  1,133
  1,325
  1,527
  1,740
  1,962
  2,194
  2,435
  2,686
  2,946
Issuance/(repayment) of debt, $m
  37
  275
  362
  464
  580
  709
  851
  1,001
  1,159
  1,322
  1,488
  1,655
  1,821
  1,985
  2,146
  2,303
  2,457
  2,607
  2,754
  2,898
  3,040
  3,181
  3,322
  3,463
  3,606
  3,751
  3,900
  4,054
  4,212
  4,377
  4,550
Issuance/(repurchase) of shares, $m
  14
  93
  113
  133
  152
  168
  180
  184
  181
  167
  141
  85
  33
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  18
  368
  475
  597
  732
  877
  1,031
  1,185
  1,340
  1,489
  1,629
  1,740
  1,854
  1,985
  2,146
  2,303
  2,457
  2,607
  2,754
  2,898
  3,040
  3,181
  3,322
  3,463
  3,606
  3,751
  3,900
  4,054
  4,212
  4,377
  4,550
Total cash flow (excl. dividends), $m
  40
  289
  372
  470
  582
  707
  843
  988
  1,140
  1,297
  1,457
  1,594
  1,754
  1,945
  2,181
  2,428
  2,686
  2,954
  3,233
  3,523
  3,822
  4,133
  4,455
  4,788
  5,133
  5,491
  5,862
  6,247
  6,648
  7,063
  7,496
Retained Cash Flow (-), $m
  -104
  -161
  -213
  -272
  -341
  -417
  -500
  -588
  -681
  -776
  -874
  -972
  -1,069
  -1,166
  -1,260
  -1,353
  -1,443
  -1,531
  -1,618
  -1,702
  -1,786
  -1,868
  -1,951
  -2,034
  -2,118
  -2,203
  -2,291
  -2,381
  -2,474
  -2,571
  -2,672
Prev. year cash balance distribution, $m
 
  44
  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
 
  171
  160
  198
  242
  290
  343
  400
  459
  521
  583
  622
  684
  779
  921
  1,075
  1,243
  1,423
  1,616
  1,820
  2,037
  2,265
  2,504
  2,754
  3,015
  3,288
  3,572
  3,867
  4,174
  4,492
  4,824
Discount rate, %
 
  7.20
  7.56
  7.94
  8.33
  8.75
  9.19
  9.65
  10.13
  10.64
  11.17
  11.73
  12.31
  12.93
  13.58
  14.26
  14.97
  15.72
  16.50
  17.33
  18.19
  19.10
  20.06
  21.06
  22.11
  23.22
  24.38
  25.60
  26.88
  28.22
  29.64
PV of cash for distribution, $m
 
  160
  138
  157
  176
  191
  203
  210
  212
  210
  202
  184
  170
  160
  155
  146
  133
  119
  103
  87
  72
  58
  45
  34
  25
  18
  12
  8
  5
  3
  2
Current shareholders' claim on cash, %
  100
  73.3
  56.0
  44.5
  36.6
  31.1
  27.1
  24.3
  22.3
  20.9
  20.0
  19.5
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4
  19.4

Aceto Corporation (Aceto) is engaged in the marketing, sales and distribution of finished dosage form generic pharmaceuticals, nutraceutical products, pharmaceutical active ingredients and intermediates, specialty performance chemicals inclusive of agricultural intermediates and agricultural protection products. The Company's business is organized along product lines into three segments: Human Health, Pharmaceutical Ingredients and Performance Chemicals. As of June 30, 2016, it distributed over 1,100 chemical compounds used primarily as finished products or raw materials in the agricultural, coatings and industrial chemical industries. The Human Health segment includes finished dosage form generic drugs and nutraceutical products. As of June 30, 2016, the Pharmaceutical Ingredients segment had two product groups: Active Pharmaceutical Ingredients and Pharmaceutical Intermediates. The Performance Chemicals segment includes specialty chemicals and agricultural protection products.

FINANCIAL RATIOS  of  Aceto (ACET)

Valuation Ratios
P/E Ratio 30.8
Price to Sales 0.5
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 10.6
Price to Free Cash Flow 17
Growth Rates
Sales Growth Rate 14.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 500%
Cap. Spend. - 3 Yr. Gr. Rate 32%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 83.3%
Total Debt to Equity 86.8%
Interest Coverage 7
Management Effectiveness
Return On Assets 1.6%
Ret/ On Assets - 3 Yr. Avg. 5.4%
Return On Total Capital 1.9%
Ret/ On T. Cap. - 3 Yr. Avg. 6.7%
Return On Equity 3.1%
Return On Equity - 3 Yr. Avg. 9.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 22.1%
Gross Margin - 3 Yr. Avg. 24.1%
EBITDA Margin 5.2%
EBITDA Margin - 3 Yr. Avg. 9.8%
Operating Margin 4.7%
Oper. Margin - 3 Yr. Avg. 8.4%
Pre-Tax Margin 2.7%
Pre-Tax Margin - 3 Yr. Avg. 7.4%
Net Profit Margin 1.7%
Net Profit Margin - 3 Yr. Avg. 4.7%
Effective Tax Rate 35.3%
Eff/ Tax Rate - 3 Yr. Avg. 36.5%
Payout Ratio 63.6%

ACET stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ACET stock intrinsic value calculation we used $638 million for the last fiscal year's total revenue generated by Aceto. The default revenue input number comes from 2017 income statement of Aceto. 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 ACET stock valuation model: a) initial revenue growth rate of 44.4% 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 7.2%, whose default value for ACET is calculated based on our internal credit rating of Aceto, 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 Aceto.
    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 ACET stock the variable cost ratio is equal to 89.7%.

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 ACET 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 Aceto.

Corporate tax rate of 27% is the nominal tax rate for Aceto. 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 ACET 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 ACET are equal to 29.3%.

Life of production assets of 26.1 years is the average useful life of capital assets used in Aceto 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 ACET is equal to 32.4%. 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 - $408 million for Aceto - 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 21.262 million for Aceto 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 Aceto at the current share price and the inputted number of shares is $0.2 billion.

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COMPANY NEWS

▶ ETFs with exposure to Aceto Corp. : October 3, 2017   [Oct-03-17 10:48AM  Capital Cube]
▶ ACETO Appoints William C. Kennally, III President and CEO   [Sep-27-17 04:54PM  GlobeNewswire]
▶ ETFs with exposure to Aceto Corp. : September 1, 2017   [Sep-01-17 06:41PM  Capital Cube]
▶ Aceto posts 4Q profit   [Aug-24-17 10:22PM  Associated Press]
▶ 5 Stocks to Bet on New Analyst Coverage   [Aug-21-17 09:56AM  Zacks]
▶ ACETO to Present at the Singular Summer Solstice Conference   [Jul-07-17 09:00AM  GlobeNewswire]
▶ ETFs with exposure to Aceto Corp. : June 15, 2017   [Jun-15-17 12:53PM  Capital Cube]
▶ ETFs with exposure to Aceto Corp. : June 2, 2017   [Jun-02-17 01:48PM  Capital Cube]
▶ ETFs with exposure to Aceto Corp. : May 23, 2017   [May-23-17 12:23PM  Capital Cube]
▶ Aceto posts 3Q profit   [May-04-17 07:44PM  Associated Press]
▶ Aceto Corp. Value Analysis (NASDAQ:ACET) : April 24, 2017   [Apr-24-17 03:03PM  Capital Cube]
▶ Should You Get Rid of INC Research (INCR) Now?   [Mar-08-17 08:47AM  Zacks]
▶ Top Ranked Value Stocks to Buy for March 6th   [Mar-06-17 09:32AM  Zacks]
▶ Should You Get Rid of Ensign Group (ENSG) Now?   [Mar-03-17 08:42AM  Zacks]
▶ Why Aceto Corporation's Shares Plunged 18% Today   [Feb-03-17 03:26PM  at Motley Fool]
▶ What Smart Money Thinks of Aceto Corporation (ACET)?   [Dec-12-16 06:31PM  at Insider Monkey]
▶ ACETO Board of Directors Declares Quarterly Cash Dividend   [Dec-01-16 02:11PM  GlobeNewswire]
Financial statements of ACET
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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