Intrinsic value of Adient - ADNT

Previous Close

$79.69

  Intrinsic Value

$18.90

stock screener

  Rating & Target

str. sell

-76%

Previous close

$79.69

 
Intrinsic value

$18.90

 
Up/down potential

-76%

 
Rating

str. sell

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

We calculate the intrinsic value of ADNT 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 7.4

 

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, %
  -16.11
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  16,837
  17,174
  17,569
  18,020
  18,527
  19,089
  19,705
  20,376
  21,103
  21,885
  22,725
  23,624
  24,583
  25,603
  26,688
  27,840
  29,060
  30,351
  31,717
  33,160
  34,683
  36,291
  37,986
  39,773
  41,656
  43,640
  45,728
  47,925
  50,238
  52,671
  55,230
Variable operating expenses, $m
 
  13,872
  14,186
  14,545
  14,948
  15,395
  15,885
  16,418
  16,996
  17,618
  18,286
  18,782
  19,545
  20,356
  21,219
  22,134
  23,104
  24,131
  25,217
  26,364
  27,575
  28,853
  30,201
  31,622
  33,119
  34,696
  36,356
  38,103
  39,942
  41,876
  43,911
Fixed operating expenses, $m
 
  3,338
  3,422
  3,507
  3,595
  3,685
  3,777
  3,872
  3,968
  4,068
  4,169
  4,273
  4,380
  4,490
  4,602
  4,717
  4,835
  4,956
  5,080
  5,207
  5,337
  5,470
  5,607
  5,747
  5,891
  6,038
  6,189
  6,344
  6,503
  6,665
  6,832
Total operating expenses, $m
  16,782
  17,210
  17,608
  18,052
  18,543
  19,080
  19,662
  20,290
  20,964
  21,686
  22,455
  23,055
  23,925
  24,846
  25,821
  26,851
  27,939
  29,087
  30,297
  31,571
  32,912
  34,323
  35,808
  37,369
  39,010
  40,734
  42,545
  44,447
  46,445
  48,541
  50,743
Operating income, $m
  55
  -37
  -39
  -32
  -16
  9
  43
  86
  139
  200
  270
  568
  658
  757
  867
  988
  1,120
  1,264
  1,420
  1,589
  1,771
  1,967
  2,178
  2,404
  2,646
  2,905
  3,182
  3,478
  3,793
  4,129
  4,487
EBITDA, $m
  399
  306
  306
  316
  336
  365
  404
  452
  509
  576
  653
  739
  836
  943
  1,061
  1,190
  1,331
  1,484
  1,650
  1,829
  2,022
  2,230
  2,453
  2,692
  2,948
  3,221
  3,514
  3,825
  4,157
  4,511
  4,887
Interest expense (income), $m
  0
  120
  126
  134
  142
  151
  161
  172
  184
  197
  212
  227
  243
  260
  279
  298
  319
  341
  365
  389
  415
  443
  472
  503
  535
  569
  605
  642
  682
  724
  768
Earnings before tax, $m
  390
  -157
  -166
  -166
  -158
  -142
  -118
  -86
  -46
  2
  59
  341
  415
  497
  589
  690
  801
  923
  1,056
  1,200
  1,356
  1,524
  1,706
  1,901
  2,111
  2,336
  2,577
  2,835
  3,111
  3,405
  3,719
Tax expense, $m
  1,839
  0
  0
  0
  0
  0
  0
  0
  0
  1
  16
  92
  112
  134
  159
  186
  216
  249
  285
  324
  366
  412
  461
  513
  570
  631
  696
  766
  840
  919
  1,004
Net income, $m
  -1,533
  -157
  -166
  -166
  -158
  -142
  -118
  -86
  -46
  2
  43
  249
  303
  363
  430
  504
  585
  674
  771
  876
  990
  1,113
  1,245
  1,388
  1,541
  1,706
  1,882
  2,070
  2,271
  2,486
  2,715

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  105
  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
  12,990
  13,140
  13,442
  13,787
  14,175
  14,605
  15,077
  15,590
  16,146
  16,745
  17,387
  18,075
  18,808
  19,589
  20,419
  21,300
  22,234
  23,222
  24,267
  25,371
  26,537
  27,767
  29,064
  30,431
  31,872
  33,389
  34,987
  36,668
  38,438
  40,299
  42,257
Adjusted assets (=assets-cash), $m
  12,885
  13,140
  13,442
  13,787
  14,175
  14,605
  15,077
  15,590
  16,146
  16,745
  17,387
  18,075
  18,808
  19,589
  20,419
  21,300
  22,234
  23,222
  24,267
  25,371
  26,537
  27,767
  29,064
  30,431
  31,872
  33,389
  34,987
  36,668
  38,438
  40,299
  42,257
Revenue / Adjusted assets
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
  1.307
Average production assets, $m
  1,191
  1,219
  1,247
  1,279
  1,315
  1,355
  1,399
  1,447
  1,498
  1,554
  1,613
  1,677
  1,745
  1,818
  1,895
  1,977
  2,063
  2,155
  2,252
  2,354
  2,463
  2,577
  2,697
  2,824
  2,958
  3,098
  3,247
  3,403
  3,567
  3,740
  3,921
Working capital, $m
  1,431
  1,425
  1,458
  1,496
  1,538
  1,584
  1,636
  1,691
  1,752
  1,816
  1,886
  1,961
  2,040
  2,125
  2,215
  2,311
  2,412
  2,519
  2,632
  2,752
  2,879
  3,012
  3,153
  3,301
  3,457
  3,622
  3,795
  3,978
  4,170
  4,372
  4,584
Total debt, $m
  3,521
  3,610
  3,814
  4,048
  4,309
  4,599
  4,918
  5,264
  5,639
  6,044
  6,477
  6,941
  7,437
  7,964
  8,524
  9,119
  9,749
  10,416
  11,121
  11,866
  12,653
  13,483
  14,359
  15,282
  16,254
  17,279
  18,357
  19,492
  20,686
  21,943
  23,265
Total liabilities, $m
  8,780
  8,869
  9,073
  9,307
  9,568
  9,858
  10,177
  10,523
  10,898
  11,303
  11,736
  12,200
  12,696
  13,223
  13,783
  14,378
  15,008
  15,675
  16,380
  17,125
  17,912
  18,742
  19,618
  20,541
  21,513
  22,538
  23,616
  24,751
  25,945
  27,202
  28,524
Total equity, $m
  4,210
  4,270
  4,369
  4,481
  4,607
  4,747
  4,900
  5,067
  5,247
  5,442
  5,651
  5,874
  6,113
  6,367
  6,636
  6,923
  7,226
  7,547
  7,887
  8,246
  8,624
  9,024
  9,446
  9,890
  10,358
  10,851
  11,371
  11,917
  12,492
  13,097
  13,734
Total liabilities and equity, $m
  12,990
  13,139
  13,442
  13,788
  14,175
  14,605
  15,077
  15,590
  16,145
  16,745
  17,387
  18,074
  18,809
  19,590
  20,419
  21,301
  22,234
  23,222
  24,267
  25,371
  26,536
  27,766
  29,064
  30,431
  31,871
  33,389
  34,987
  36,668
  38,437
  40,299
  42,258
Debt-to-equity ratio
  0.836
  0.850
  0.870
  0.900
  0.940
  0.970
  1.000
  1.040
  1.070
  1.110
  1.150
  1.180
  1.220
  1.250
  1.280
  1.320
  1.350
  1.380
  1.410
  1.440
  1.470
  1.490
  1.520
  1.550
  1.570
  1.590
  1.610
  1.640
  1.660
  1.680
  1.690
Adjusted equity ratio
  0.322
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325
  0.325

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -1,533
  -157
  -166
  -166
  -158
  -142
  -118
  -86
  -46
  2
  43
  249
  303
  363
  430
  504
  585
  674
  771
  876
  990
  1,113
  1,245
  1,388
  1,541
  1,706
  1,882
  2,070
  2,271
  2,486
  2,715
Depreciation, amort., depletion, $m
  344
  342
  345
  348
  352
  356
  361
  366
  371
  376
  383
  171
  178
  185
  193
  202
  211
  220
  230
  240
  251
  263
  275
  288
  302
  316
  331
  347
  364
  382
  400
Funds from operations, $m
  -415
  185
  180
  183
  194
  215
  243
  280
  325
  378
  425
  420
  481
  548
  623
  705
  796
  894
  1,000
  1,116
  1,241
  1,376
  1,521
  1,676
  1,843
  2,022
  2,213
  2,417
  2,635
  2,867
  3,115
Change in working capital, $m
  619
  28
  33
  37
  42
  47
  51
  56
  60
  65
  70
  75
  80
  85
  90
  96
  101
  107
  113
  120
  126
  133
  141
  148
  156
  165
  173
  182
  192
  202
  212
Cash from operations, $m
  -1,034
  157
  147
  145
  152
  168
  192
  224
  265
  313
  356
  346
  401
  464
  533
  610
  694
  787
  887
  996
  1,115
  1,242
  1,380
  1,528
  1,687
  1,857
  2,040
  2,235
  2,443
  2,666
  2,903
Maintenance CAPEX, $m
  0
  -121
  -124
  -127
  -131
  -134
  -138
  -143
  -148
  -153
  -159
  -165
  -171
  -178
  -185
  -193
  -202
  -211
  -220
  -230
  -240
  -251
  -263
  -275
  -288
  -302
  -316
  -331
  -347
  -364
  -382
New CAPEX, $m
  -437
  -29
  -28
  -32
  -36
  -40
  -44
  -48
  -52
  -56
  -60
  -64
  -68
  -72
  -77
  -82
  -87
  -92
  -97
  -102
  -108
  -114
  -120
  -127
  -134
  -141
  -148
  -156
  -164
  -173
  -182
Cash from investing activities, $m
  -425
  -150
  -152
  -159
  -167
  -174
  -182
  -191
  -200
  -209
  -219
  -229
  -239
  -250
  -262
  -275
  -289
  -303
  -317
  -332
  -348
  -365
  -383
  -402
  -422
  -443
  -464
  -487
  -511
  -537
  -564
Free cash flow, $m
  -1,459
  7
  -6
  -14
  -14
  -6
  10
  34
  66
  105
  137
  117
  162
  213
  271
  335
  406
  484
  570
  664
  766
  877
  997
  1,126
  1,265
  1,415
  1,575
  1,747
  1,932
  2,129
  2,339
Issuance/(repayment) of debt, $m
  1,487
  168
  204
  233
  262
  290
  318
  347
  375
  404
  434
  464
  495
  527
  560
  595
  630
  667
  705
  745
  787
  830
  876
  923
  972
  1,024
  1,078
  1,135
  1,194
  1,257
  1,322
Issuance/(repurchase) of shares, $m
  0
  244
  264
  278
  284
  281
  271
  253
  226
  193
  166
  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  
  1,516
  412
  468
  511
  546
  571
  589
  600
  601
  597
  600
  464
  495
  527
  560
  595
  630
  667
  705
  745
  787
  830
  876
  923
  972
  1,024
  1,078
  1,135
  1,194
  1,257
  1,322
Total cash flow (excl. dividends), $m
  61
  419
  462
  497
  531
  565
  599
  633
  667
  702
  737
  581
  657
  740
  831
  929
  1,036
  1,151
  1,276
  1,409
  1,553
  1,707
  1,872
  2,049
  2,237
  2,439
  2,653
  2,882
  3,126
  3,385
  3,661
Retained Cash Flow (-), $m
  1,416
  -244
  -264
  -278
  -284
  -281
  -271
  -253
  -226
  -195
  -209
  -223
  -238
  -254
  -270
  -286
  -303
  -321
  -340
  -359
  -379
  -400
  -422
  -444
  -468
  -493
  -519
  -546
  -575
  -605
  -636
Prev. year cash balance distribution, $m
 
  26
  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
 
  201
  198
  219
  248
  284
  328
  380
  441
  507
  528
  358
  419
  486
  561
  643
  733
  830
  936
  1,050
  1,174
  1,307
  1,451
  1,604
  1,769
  1,946
  2,134
  2,336
  2,551
  2,780
  3,025
Discount rate, %
 
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
 
  184
  165
  163
  164
  166
  167
  167
  165
  159
  137
  76
  71
  65
  58
  51
  43
  36
  29
  23
  17
  13
  9
  6
  4
  3
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100
  96.8
  93.5
  90.3
  87.1
  84.2
  81.6
  79.3
  77.3
  75.7
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4
  74.4

Adient plc, formerly Adient Limited, is an automotive seating supplier. The Company designs, manufactures and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks, including vans, pick-up trucks, and sport/crossover utility vehicles. The Company operates through two segments: Seating and Interiors. The Seating segment produces automotive seat metal structures, and mechanisms, foam, trim, fabric and complete seat systems. The Interiors segment produces instrument panels, floor consoles, door panels, overhead consoles, cockpit systems, decorative trim and other products. The Company also supplies various seating systems to the international motorsports industry through its RECARO brand of products. It operates approximately 230 manufacturing or assembly facilities, with operations in over 30 countries. Its technologies focus on offering automotive seating solutions in a range of areas, including frames, armrests and fabrics.

FINANCIAL RATIOS  of  Adient (ADNT)

Valuation Ratios
P/E Ratio -4.9
Price to Sales 0.4
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow -7.2
Price to Free Cash Flow -5.1
Growth Rates
Sales Growth Rate -16.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -8.6%
Cap. Spend. - 3 Yr. Gr. Rate -7.9%
Financial Strength
Quick Ratio 1
Current Ratio 0.7
LT Debt to Equity 81.8%
Total Debt to Equity 83.6%
Interest Coverage 0
Management Effectiveness
Return On Assets -13.1%
Ret/ On Assets - 3 Yr. Avg. -1.1%
Return On Total Capital -22.9%
Ret/ On T. Cap. - 3 Yr. Avg. -1.2%
Return On Equity -31.2%
Return On Equity - 3 Yr. Avg. -3.8%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 9.6%
Gross Margin - 3 Yr. Avg. 9.2%
EBITDA Margin 4.4%
EBITDA Margin - 3 Yr. Avg. 5.3%
Operating Margin 0.3%
Oper. Margin - 3 Yr. Avg. 1.8%
Pre-Tax Margin 2.3%
Pre-Tax Margin - 3 Yr. Avg. 3.4%
Net Profit Margin -9.1%
Net Profit Margin - 3 Yr. Avg. -1.8%
Effective Tax Rate 471.5%
Eff/ Tax Rate - 3 Yr. Avg. 186.4%
Payout Ratio 0%

ADNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ADNT stock intrinsic value calculation we used $16837 million for the last fiscal year's total revenue generated by Adient. The default revenue input number comes from 2016 income statement of Adient. 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 ADNT stock valuation model: a) initial revenue growth rate of 2% 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 9.3%, whose default value for ADNT is calculated based on our internal credit rating of Adient, 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 Adient.
    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 ADNT stock the variable cost ratio is equal to 80.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3257 million in the base year in the intrinsic value calculation for ADNT 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 Adient.

Corporate tax rate of 27% is the nominal tax rate for Adient. 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 ADNT 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 ADNT are equal to 7.1%.

Life of production assets of 9.8 years is the average useful life of capital assets used in Adient 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 ADNT is equal to 8.3%. 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 - $4210 million for Adient - 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 93.184 million for Adient 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 Adient at the current share price and the inputted number of shares is $7.4 billion.

RELATED COMPANIES Price Int.Val. Rating
ADNT Adient 79.69 19.13  str.sell
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MGA Magna Internat 56.04 88.33  str.buy
TM Toyota Motor A 123.93 173.50  buy
TTM Tata Motors AD 31.84 80.31  str.buy
TSLA Tesla 328.91 1,339.81  str.buy

COMPANY NEWS

▶ ETFs with exposure to Adient plc : December 7, 2017   [Dec-07-17 12:49PM  Capital Cube]
▶ ETFs with exposure to Adient plc : November 27, 2017   [Nov-27-17 11:49AM  Capital Cube]
▶ Adient Declares Quarterly Dividend   [Nov-07-17 04:15PM  PR Newswire]
▶ How Axalta went from loser to takeover target   [Nov-03-17 06:53PM  CNBC Videos]
▶ Adient beats Street 4Q forecasts   [Nov-02-17 08:24AM  Associated Press]
▶ Adient PLC to Host Earnings Call   [07:10AM  ACCESSWIRE]
▶ Should You Buy Adient (ADNT) Ahead of Earnings?   [Nov-01-17 08:40AM  Zacks]
▶ ETFs with exposure to Adient plc : October 25, 2017   [Oct-25-17 09:45AM  Capital Cube]
▶ ETFs with exposure to Adient plc : September 27, 2017   [Sep-27-17 10:22AM  Capital Cube]
▶ Adient Completes Acquisition of Futuris Group   [Sep-25-17 07:00AM  PR Newswire]
▶ [$$] Activist Blue Harbour Builds Up 6.2% Stake in Auto Supplier Adient   [Sep-15-17 07:47PM  The Wall Street Journal]
▶ Adient Declares Quarterly Dividend   [Sep-12-17 04:15PM  PR Newswire]
▶ Trading autos after Harvey: 5 picks   [Aug-30-17 05:00PM  CNBC Videos]
▶ Clearlake Capital sells Futuris Global for $360 million   [Aug-23-17 03:35PM  American City Business Journals]
▶ ETFs with exposure to Adient plc : August 15, 2017   [Aug-15-17 03:10PM  Capital Cube]
▶ Adient tops 3Q profit forecasts   [01:24AM  Associated Press]
▶ ETFs with exposure to Adient plc : July 24, 2017   [Jul-24-17 01:50PM  Capital Cube]
▶ ETFs with exposure to Adient plc : July 14, 2017   [Jul-14-17 12:38PM  Capital Cube]
▶ Adient Declares Quarterly Dividend   [Jul-11-17 04:30PM  PR Newswire]
▶ ETFs with exposure to Adient plc : June 19, 2017   [Jun-19-17 02:50PM  Capital Cube]
▶ Goldman Reveals Top Stocks Owned By Hedge Funds This Year   [Jun-05-17 02:01PM  Investopedia]
▶ ETFs with exposure to Adient plc : May 26, 2017   [May-26-17 12:56PM  Capital Cube]
▶ ETFs with exposure to Adient plc : May 16, 2017   [May-16-17 12:45PM  Capital Cube]
▶ ETFs with exposure to Adient plc : May 5, 2017   [May-05-17 03:46PM  Capital Cube]
▶ Adient tops 2Q profit forecasts   [08:38AM  Associated Press]
▶ Adient plc Value Analysis (NYSE:ADNT) : April 24, 2017   [Apr-24-17 03:04PM  Capital Cube]
▶ Adient receives Supplier Award from Toyota   [Apr-11-17 09:00AM  PR Newswire]
▶ Here's why Boeing is working closely with a car seat-maker   [Mar-28-17 07:15PM  at bizjournals.com]
▶ Here's why Boeing is working closely with a car seat-maker   [07:15PM  American City Business Journals]
▶ Adient Looks to Expand Into Aviation Market with Boeing   [Mar-27-17 04:09PM  The Wall Street Journal]
▶ Adient Declares Initial Quarterly Dividend   [Mar-13-17 04:30PM  PR Newswire]
▶ Adient wins 2017 Manufacturing Leadership Award   [Mar-02-17 08:00AM  PR Newswire]
▶ T Rowe Price Adds 7 Stocks to Portfolio   [Feb-24-17 05:07PM  GuruFocus.com]
▶ Swap Lear For Adient: Morgan Stanley   [Feb-21-17 02:28PM  at Barrons.com]
▶ [$$] Auto Parts Maker Adient Could Have 35% Upside   [Feb-18-17 01:16AM  at Barrons.com]
Financial statements of ADNT
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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