Intrinsic value of ACI Worldwide - ACIW

Previous Close

$23.97

  Intrinsic Value

$14.52

stock screener

  Rating & Target

sell

-39%

  Value-price divergence*

-5%

Previous close

$23.97

 
Intrinsic value

$14.52

 
Up/down potential

-39%

 
Rating

sell

 
Value-price divergence*

-5%

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

We calculate the intrinsic value of ACIW stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.8

 

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, %
  -3.82
  9.50
  9.05
  8.64
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.93
  5.83
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
Revenue, $m
  1,006
  1,102
  1,201
  1,305
  1,413
  1,526
  1,642
  1,764
  1,890
  2,021
  2,157
  2,299
  2,446
  2,600
  2,760
  2,926
  3,099
  3,280
  3,469
  3,666
  3,871
  4,086
  4,310
  4,545
  4,790
  5,047
  5,316
  5,597
  5,892
  6,200
  6,523
Variable operating expenses, $m
 
  959
  1,037
  1,119
  1,204
  1,292
  1,384
  1,480
  1,579
  1,683
  1,790
  1,811
  1,927
  2,048
  2,173
  2,304
  2,441
  2,583
  2,732
  2,887
  3,049
  3,218
  3,395
  3,579
  3,773
  3,975
  4,186
  4,408
  4,640
  4,883
  5,137
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
  785
  959
  1,037
  1,119
  1,204
  1,292
  1,384
  1,480
  1,579
  1,683
  1,790
  1,811
  1,927
  2,048
  2,173
  2,304
  2,441
  2,583
  2,732
  2,887
  3,049
  3,218
  3,395
  3,579
  3,773
  3,975
  4,186
  4,408
  4,640
  4,883
  5,137
Operating income, $m
  221
  143
  164
  186
  209
  233
  258
  284
  311
  338
  367
  488
  520
  552
  586
  622
  658
  697
  737
  779
  822
  868
  916
  966
  1,018
  1,072
  1,129
  1,189
  1,252
  1,317
  1,386
EBITDA, $m
  325
  275
  300
  326
  353
  381
  410
  440
  472
  504
  538
  574
  611
  649
  689
  730
  774
  819
  866
  915
  966
  1,020
  1,076
  1,134
  1,196
  1,260
  1,327
  1,397
  1,471
  1,548
  1,628
Interest expense (income), $m
  35
  28
  32
  37
  41
  46
  51
  57
  62
  68
  74
  80
  86
  93
  99
  107
  114
  122
  130
  138
  147
  156
  166
  176
  186
  197
  209
  221
  234
  247
  260
Earnings before tax, $m
  186
  115
  132
  149
  168
  187
  207
  227
  249
  271
  294
  409
  434
  460
  487
  515
  544
  575
  607
  641
  675
  712
  750
  790
  831
  875
  920
  968
  1,018
  1,071
  1,125
Tax expense, $m
  56
  31
  36
  40
  45
  50
  56
  61
  67
  73
  79
  110
  117
  124
  131
  139
  147
  155
  164
  173
  182
  192
  202
  213
  224
  236
  249
  261
  275
  289
  304
Net income, $m
  130
  84
  96
  109
  122
  136
  151
  166
  181
  198
  214
  298
  317
  336
  355
  376
  397
  420
  443
  468
  493
  520
  547
  576
  607
  639
  672
  707
  743
  782
  822

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  76
  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
  1,902
  1,999
  2,180
  2,369
  2,565
  2,769
  2,981
  3,201
  3,430
  3,668
  3,915
  4,172
  4,440
  4,718
  5,008
  5,310
  5,625
  5,953
  6,296
  6,653
  7,026
  7,416
  7,823
  8,249
  8,694
  9,160
  9,648
  10,158
  10,693
  11,252
  11,839
Adjusted assets (=assets-cash), $m
  1,826
  1,999
  2,180
  2,369
  2,565
  2,769
  2,981
  3,201
  3,430
  3,668
  3,915
  4,172
  4,440
  4,718
  5,008
  5,310
  5,625
  5,953
  6,296
  6,653
  7,026
  7,416
  7,823
  8,249
  8,694
  9,160
  9,648
  10,158
  10,693
  11,252
  11,839
Revenue / Adjusted assets
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
  0.551
Average production assets, $m
  512
  561
  611
  664
  719
  777
  836
  898
  962
  1,029
  1,098
  1,170
  1,245
  1,323
  1,405
  1,489
  1,578
  1,670
  1,766
  1,866
  1,970
  2,080
  2,194
  2,313
  2,438
  2,569
  2,706
  2,849
  2,999
  3,156
  3,320
Working capital, $m
  32
  51
  55
  60
  65
  70
  76
  81
  87
  93
  99
  106
  113
  120
  127
  135
  143
  151
  160
  169
  178
  188
  198
  209
  220
  232
  245
  257
  271
  285
  300
Total debt, $m
  744
  771
  877
  987
  1,103
  1,222
  1,347
  1,476
  1,610
  1,750
  1,895
  2,046
  2,203
  2,367
  2,537
  2,714
  2,899
  3,092
  3,292
  3,502
  3,721
  3,950
  4,189
  4,439
  4,700
  4,974
  5,260
  5,560
  5,874
  6,202
  6,546
Total liabilities, $m
  1,147
  1,174
  1,280
  1,390
  1,506
  1,625
  1,750
  1,879
  2,013
  2,153
  2,298
  2,449
  2,606
  2,770
  2,940
  3,117
  3,302
  3,495
  3,695
  3,905
  4,124
  4,353
  4,592
  4,842
  5,103
  5,377
  5,663
  5,963
  6,277
  6,605
  6,949
Total equity, $m
  755
  826
  900
  978
  1,059
  1,143
  1,231
  1,322
  1,417
  1,515
  1,617
  1,723
  1,834
  1,949
  2,068
  2,193
  2,323
  2,459
  2,600
  2,748
  2,902
  3,063
  3,231
  3,407
  3,591
  3,783
  3,984
  4,195
  4,416
  4,647
  4,889
Total liabilities and equity, $m
  1,902
  2,000
  2,180
  2,368
  2,565
  2,768
  2,981
  3,201
  3,430
  3,668
  3,915
  4,172
  4,440
  4,719
  5,008
  5,310
  5,625
  5,954
  6,295
  6,653
  7,026
  7,416
  7,823
  8,249
  8,694
  9,160
  9,647
  10,158
  10,693
  11,252
  11,838
Debt-to-equity ratio
  0.985
  0.930
  0.970
  1.010
  1.040
  1.070
  1.090
  1.120
  1.140
  1.160
  1.170
  1.190
  1.200
  1.210
  1.230
  1.240
  1.250
  1.260
  1.270
  1.270
  1.280
  1.290
  1.300
  1.300
  1.310
  1.310
  1.320
  1.330
  1.330
  1.330
  1.340
Adjusted equity ratio
  0.372
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  130
  84
  96
  109
  122
  136
  151
  166
  181
  198
  214
  298
  317
  336
  355
  376
  397
  420
  443
  468
  493
  520
  547
  576
  607
  639
  672
  707
  743
  782
  822
Depreciation, amort., depletion, $m
  104
  132
  136
  139
  144
  148
  152
  157
  161
  166
  171
  85
  91
  97
  103
  109
  115
  122
  129
  136
  144
  152
  160
  169
  178
  188
  198
  208
  219
  230
  242
Funds from operations, $m
  51
  216
  232
  249
  266
  284
  303
  322
  343
  364
  386
  384
  408
  432
  458
  485
  513
  542
  572
  604
  637
  671
  708
  745
  785
  826
  869
  915
  962
  1,012
  1,064
Change in working capital, $m
  -49
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
Cash from operations, $m
  100
  211
  227
  244
  261
  279
  297
  317
  337
  358
  379
  377
  401
  425
  451
  477
  505
  533
  563
  595
  627
  662
  697
  735
  774
  814
  857
  902
  949
  998
  1,049
Maintenance CAPEX, $m
  0
  -37
  -41
  -45
  -48
  -53
  -57
  -61
  -66
  -70
  -75
  -80
  -85
  -91
  -97
  -103
  -109
  -115
  -122
  -129
  -136
  -144
  -152
  -160
  -169
  -178
  -188
  -198
  -208
  -219
  -230
New CAPEX, $m
  -63
  -49
  -51
  -53
  -55
  -57
  -59
  -62
  -64
  -67
  -69
  -72
  -75
  -78
  -81
  -85
  -88
  -92
  -96
  -100
  -105
  -109
  -114
  -119
  -125
  -131
  -137
  -143
  -150
  -157
  -164
Cash from investing activities, $m
  130
  -86
  -92
  -98
  -103
  -110
  -116
  -123
  -130
  -137
  -144
  -152
  -160
  -169
  -178
  -188
  -197
  -207
  -218
  -229
  -241
  -253
  -266
  -279
  -294
  -309
  -325
  -341
  -358
  -376
  -394
Free cash flow, $m
  230
  125
  136
  146
  158
  169
  181
  194
  207
  221
  235
  225
  240
  256
  273
  290
  308
  326
  346
  366
  387
  408
  431
  455
  480
  506
  533
  561
  591
  622
  654
Issuance/(repayment) of debt, $m
  -200
  103
  106
  111
  115
  120
  124
  129
  134
  140
  145
  151
  157
  163
  170
  177
  185
  193
  201
  210
  219
  229
  239
  250
  261
  273
  286
  300
  314
  329
  344
Issuance/(repurchase) of shares, $m
  -48
  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  
  -251
  103
  106
  111
  115
  120
  124
  129
  134
  140
  145
  151
  157
  163
  170
  177
  185
  193
  201
  210
  219
  229
  239
  250
  261
  273
  286
  300
  314
  329
  344
Total cash flow (excl. dividends), $m
  -26
  228
  242
  257
  273
  289
  306
  323
  341
  360
  380
  376
  397
  420
  443
  467
  492
  519
  546
  575
  606
  637
  670
  705
  741
  779
  819
  861
  905
  950
  998
Retained Cash Flow (-), $m
  -101
  -71
  -75
  -78
  -81
  -84
  -88
  -91
  -95
  -98
  -102
  -106
  -110
  -115
  -120
  -125
  -130
  -136
  -141
  -148
  -154
  -161
  -168
  -176
  -184
  -192
  -201
  -211
  -221
  -231
  -242
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
 
  157
  167
  179
  192
  205
  218
  232
  247
  262
  278
  270
  287
  305
  323
  342
  362
  383
  405
  428
  451
  476
  502
  529
  557
  587
  618
  650
  684
  719
  756
Discount rate, %
 
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
 
  146
  144
  142
  138
  133
  127
  120
  112
  103
  94
  77
  69
  60
  52
  44
  37
  30
  24
  19
  15
  11
  8
  6
  4
  3
  2
  1
  1
  0
  0
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

ACI Worldwide, Inc. develops, markets, installs and supports a line of software products and services primarily focused on facilitating electronic payments. The Company also distributes or acts as a sales agent for software developed by third parties. Its products and services are used principally by financial institutions, retailers, billers and electronic payment processors, both in domestic and international markets. The Company's products are sold and supported through distribution networks covering three geographic regions, including the Americas, Europe/Middle East/Africa (EMEA) and Asia/Pacific. The Company's products and services are used by a range of transaction-generating endpoints, including automated teller machines (ATM), retail merchant point-of-sale (POS) terminals, bank branches, corporations and Internet commerce sites. The Company provides payment solutions to financial institutions globally for both retail banking and transaction banking services.

FINANCIAL RATIOS  of  ACI Worldwide (ACIW)

Valuation Ratios
P/E Ratio 21.6
Price to Sales 2.8
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 28.1
Price to Free Cash Flow 76
Growth Rates
Sales Growth Rate -3.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 28.6%
Cap. Spend. - 3 Yr. Gr. Rate 13.8%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 86.6%
Total Debt to Equity 98.5%
Interest Coverage 6
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 6.3%
Return On Total Capital 8.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.3%
Return On Equity 18.5%
Return On Equity - 3 Yr. Avg. 14.8%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 55.8%
Gross Margin - 3 Yr. Avg. 55.3%
EBITDA Margin 32.3%
EBITDA Margin - 3 Yr. Avg. 25.8%
Operating Margin 22%
Oper. Margin - 3 Yr. Avg. 15.9%
Pre-Tax Margin 18.5%
Pre-Tax Margin - 3 Yr. Avg. 13%
Net Profit Margin 12.9%
Net Profit Margin - 3 Yr. Avg. 9.2%
Effective Tax Rate 30.1%
Eff/ Tax Rate - 3 Yr. Avg. 28.7%
Payout Ratio 0%

ACIW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ACIW stock intrinsic value calculation we used $1006 million for the last fiscal year's total revenue generated by ACI Worldwide. The default revenue input number comes from 2016 income statement of ACI Worldwide. 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 ACIW stock valuation model: a) initial revenue growth rate of 9.5% 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 7.4%, whose default value for ACIW is calculated based on our internal credit rating of ACI Worldwide, 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 ACI Worldwide.
    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 ACIW stock the variable cost ratio is equal to 87.8%.

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 ACIW 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 4.2% for ACI Worldwide.

Corporate tax rate of 27% is the nominal tax rate for ACI Worldwide. 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 ACIW 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 ACIW are equal to 50.9%.

Life of production assets of 13.7 years is the average useful life of capital assets used in ACI Worldwide 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 ACIW is equal to 4.6%. 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 - $755 million for ACI Worldwide - 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 118.529 million for ACI Worldwide 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 ACI Worldwide at the current share price and the inputted number of shares is $2.8 billion.

RELATED COMPANIES Price Int.Val. Rating
FISV Fiserv 127.07 64.35  sell
IBM International 159.53 172.25  hold
FIS Fidelity Natio 94.81 60.35  sell
MA Mastercard 146.19 132.40  hold
ORCL Oracle 49.58 29.52  sell
NCR NCR 37.31 25.44  sell
JKHY Jack Henry&Ass 104.16 62.31  sell
INTU Intuit 145.77 130.54  hold
V VISA Cl A 107.80 158.71  str.buy

COMPANY NEWS

▶ ACI Worldwide Powers Digital Banking for MB Financial   [Oct-17-17 10:00AM  GlobeNewswire]
▶ ACI Worldwide to Attend Upcoming Investor Conferences   [Aug-07-17 08:00AM  GlobeNewswire]
▶ ACI Worldwide reports 2Q loss   [01:24AM  Associated Press]
▶ Exclusive: Former Red Hat CFO Joins CloudBees   [Jul-24-17 06:41PM  Fortune]
▶ ETFs with exposure to ACI Worldwide, Inc. : July 14, 2017   [Jul-14-17 12:36PM  Capital Cube]
▶ With JPMorgan, BofA Earnings On Tap, ATM Software Stock Sets Up   [Jul-13-17 11:14AM  Investor's Business Daily]
▶ ACI Worldwide Expands in Romania   [Jul-11-17 02:00AM  GlobeNewswire]
▶ ACI Worldwide Brings Alipay to Africa via Peach Payments   [Jun-26-17 07:00AM  GlobeNewswire]
▶ ACI Worldwide to Attend Upcoming Investor Conferences   [May-25-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to ACI Worldwide, Inc. : May 22, 2017   [May-22-17 01:18PM  Capital Cube]
▶ New Strong Buy Stocks for May 15th   [May-15-17 10:12AM  Zacks]
▶ ACI Worldwide reports 1Q loss   [06:22AM  Associated Press]
▶ ACI Worldwide to Power Payments Fraud Protection for ADSI   [Apr-11-17 08:00AM  GlobeNewswire]
▶ ACI Protects eCommerce Payments for Braspag   [Mar-28-17 08:00AM  Marketwired]
Financial statements of ACIW
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.