Intrinsic value of ADT - ADT

Previous Close

$7.91

  Intrinsic Value

$93.23

stock screener

  Rating & Target

str. buy

+999%

Previous close

$7.91

 
Intrinsic value

$93.23

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of ADT 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 0001), $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 6.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  46.30
  42.17
  38.45
  35.11
  32.10
  29.39
  26.95
  24.75
  22.78
  21.00
  19.40
  17.96
  16.66
  15.50
  14.45
  13.50
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  7.96
  7.67
  7.40
  7.16
  6.95
Revenue, $m
  6,314
  8,976
  12,428
  16,791
  22,180
  28,698
  36,432
  45,450
  55,802
  67,521
  80,621
  95,100
  110,948
  128,143
  146,657
  166,461
  187,523
  209,815
  233,312
  257,994
  283,848
  310,867
  339,054
  368,417
  398,975
  430,753
  463,785
  498,113
  533,785
  570,857
Variable operating expenses, $m
  3,347
  4,214
  5,337
  6,757
  8,511
  10,632
  13,149
  16,084
  19,453
  23,267
  26,237
  30,950
  36,107
  41,703
  47,729
  54,174
  61,028
  68,283
  75,930
  83,962
  92,376
  101,170
  110,343
  119,899
  129,844
  140,186
  150,936
  162,108
  173,717
  185,782
Fixed operating expenses, $m
  1,394
  1,425
  1,456
  1,488
  1,521
  1,554
  1,588
  1,623
  1,659
  1,696
  1,733
  1,771
  1,810
  1,850
  1,891
  1,932
  1,975
  2,018
  2,062
  2,108
  2,154
  2,202
  2,250
  2,300
  2,350
  2,402
  2,455
  2,509
  2,564
  2,620
Total operating expenses, $m
  4,741
  5,639
  6,793
  8,245
  10,032
  12,186
  14,737
  17,707
  21,112
  24,963
  27,970
  32,721
  37,917
  43,553
  49,620
  56,106
  63,003
  70,301
  77,992
  86,070
  94,530
  103,372
  112,593
  122,199
  132,194
  142,588
  153,391
  164,617
  176,281
  188,402
Operating income, $m
  1,572
  3,337
  5,634
  8,545
  12,148
  16,511
  21,694
  27,742
  34,690
  42,558
  52,650
  62,379
  73,031
  84,590
  97,038
  110,355
  124,520
  139,514
  155,319
  171,924
  189,317
  207,496
  226,461
  246,219
  266,781
  288,165
  310,395
  333,496
  357,504
  382,455
EBITDA, $m
  4,488
  6,937
  10,122
  14,154
  19,142
  25,181
  32,351
  40,718
  50,327
  61,207
  73,373
  86,825
  101,549
  117,528
  134,735
  153,143
  172,722
  193,446
  215,291
  238,240
  262,279
  287,403
  313,613
  340,919
  369,336
  398,889
  429,608
  461,534
  494,711
  529,192
Interest expense (income), $m
  0
  753
  1,215
  1,834
  2,637
  3,651
  4,904
  6,419
  8,217
  10,314
  12,721
  15,445
  18,491
  21,857
  25,542
  29,539
  33,843
  38,448
  43,344
  48,527
  53,990
  59,728
  65,739
  72,020
  78,573
  85,400
  92,504
  99,892
  107,572
  115,553
  123,846
Earnings before tax, $m
  820
  2,122
  3,800
  5,909
  8,497
  11,607
  15,275
  19,525
  24,376
  29,838
  37,205
  43,889
  51,174
  59,048
  67,499
  76,511
  86,072
  96,170
  106,793
  117,934
  129,589
  141,757
  154,440
  167,645
  181,381
  195,661
  210,502
  225,924
  241,951
  258,609
Tax expense, $m
  221
  573
  1,026
  1,595
  2,294
  3,134
  4,124
  5,272
  6,582
  8,056
  10,045
  11,850
  13,817
  15,943
  18,225
  20,658
  23,240
  25,966
  28,834
  31,842
  34,989
  38,274
  41,699
  45,264
  48,973
  52,828
  56,836
  61,000
  65,327
  69,824
Net income, $m
  598
  1,549
  2,774
  4,313
  6,203
  8,473
  11,150
  14,253
  17,794
  21,781
  27,160
  32,039
  37,357
  43,105
  49,274
  55,853
  62,833
  70,204
  77,959
  86,092
  94,600
  103,483
  112,742
  122,381
  132,408
  142,833
  153,667
  164,925
  176,624
  188,785

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  24,857
  35,339
  48,927
  66,105
  87,322
  112,984
  143,431
  178,936
  219,694
  265,831
  317,404
  374,411
  436,804
  504,499
  577,390
  655,356
  738,278
  826,043
  918,550
  1,015,724
  1,117,511
  1,223,887
  1,334,858
  1,450,462
  1,570,768
  1,695,878
  1,825,926
  1,961,073
  2,101,514
  2,247,470
Adjusted assets (=assets-cash), $m
  24,857
  35,339
  48,927
  66,105
  87,322
  112,984
  143,431
  178,936
  219,694
  265,831
  317,404
  374,411
  436,804
  504,499
  577,390
  655,356
  738,278
  826,043
  918,550
  1,015,724
  1,117,511
  1,223,887
  1,334,858
  1,450,462
  1,570,768
  1,695,878
  1,825,926
  1,961,073
  2,101,514
  2,247,470
Revenue / Adjusted assets
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
  0.254
Average production assets, $m
  14,281
  20,304
  28,111
  37,980
  50,171
  64,915
  82,408
  102,807
  126,225
  152,733
  182,364
  215,117
  250,965
  289,859
  331,738
  376,534
  424,176
  474,601
  527,751
  583,582
  642,064
  703,182
  766,940
  833,360
  902,482
  974,364
  1,049,082
  1,126,731
  1,207,421
  1,291,279
Working capital, $m
  -758
  -1,077
  -1,491
  -2,015
  -2,662
  -3,444
  -4,372
  -5,454
  -6,696
  -8,103
  -9,674
  -11,412
  -13,314
  -15,377
  -17,599
  -19,975
  -22,503
  -25,178
  -27,997
  -30,959
  -34,062
  -37,304
  -40,686
  -44,210
  -47,877
  -51,690
  -55,654
  -59,774
  -64,054
  -68,503
Total debt, $m
  16,423
  24,788
  35,632
  49,339
  66,271
  86,749
  111,046
  139,378
  171,904
  208,721
  249,876
  295,367
  345,157
  399,178
  457,344
  519,562
  585,734
  655,769
  729,591
  807,135
  888,361
  973,249
  1,061,804
  1,154,056
  1,250,060
  1,349,898
  1,453,676
  1,561,524
  1,673,596
  1,790,068
Total liabilities, $m
  19,836
  28,200
  39,044
  52,752
  69,683
  90,161
  114,458
  142,791
  175,316
  212,133
  253,288
  298,780
  348,569
  402,590
  460,757
  522,974
  589,146
  659,182
  733,003
  810,548
  891,774
  976,662
  1,065,216
  1,157,468
  1,253,473
  1,353,311
  1,457,089
  1,564,936
  1,677,008
  1,793,481
Total equity, $m
  5,021
  7,138
  9,883
  13,353
  17,639
  22,823
  28,973
  36,145
  44,378
  53,698
  64,116
  75,631
  88,234
  101,909
  116,633
  132,382
  149,132
  166,861
  185,547
  205,176
  225,737
  247,225
  269,641
  292,993
  317,295
  342,567
  368,837
  396,137
  424,506
  453,989
Total liabilities and equity, $m
  24,857
  35,338
  48,927
  66,105
  87,322
  112,984
  143,431
  178,936
  219,694
  265,831
  317,404
  374,411
  436,803
  504,499
  577,390
  655,356
  738,278
  826,043
  918,550
  1,015,724
  1,117,511
  1,223,887
  1,334,857
  1,450,461
  1,570,768
  1,695,878
  1,825,926
  1,961,073
  2,101,514
  2,247,470
Debt-to-equity ratio
  3.270
  3.470
  3.610
  3.690
  3.760
  3.800
  3.830
  3.860
  3.870
  3.890
  3.900
  3.910
  3.910
  3.920
  3.920
  3.920
  3.930
  3.930
  3.930
  3.930
  3.940
  3.940
  3.940
  3.940
  3.940
  3.940
  3.940
  3.940
  3.940
  3.940
Adjusted equity ratio
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202
  0.202

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  598
  1,549
  2,774
  4,313
  6,203
  8,473
  11,150
  14,253
  17,794
  21,781
  27,160
  32,039
  37,357
  43,105
  49,274
  55,853
  62,833
  70,204
  77,959
  86,092
  94,600
  103,483
  112,742
  122,381
  132,408
  142,833
  153,667
  164,925
  176,624
  188,785
Depreciation, amort., depletion, $m
  2,916
  3,600
  4,487
  5,609
  6,994
  8,669
  10,657
  12,975
  15,636
  18,649
  20,723
  24,445
  28,519
  32,939
  37,698
  42,788
  48,202
  53,932
  59,972
  66,316
  72,962
  79,907
  87,152
  94,700
  102,555
  110,723
  119,214
  128,038
  137,207
  146,736
Funds from operations, $m
  3,514
  5,149
  7,261
  9,922
  13,197
  17,143
  21,808
  27,229
  33,431
  40,430
  47,883
  56,484
  65,875
  76,044
  86,972
  98,641
  111,035
  124,136
  137,930
  152,408
  167,562
  183,390
  199,894
  217,081
  234,963
  253,556
  272,880
  292,962
  313,831
  335,521
Change in working capital, $m
  -240
  -319
  -414
  -524
  -647
  -782
  -928
  -1,082
  -1,242
  -1,406
  -1,572
  -1,738
  -1,902
  -2,063
  -2,222
  -2,376
  -2,527
  -2,675
  -2,820
  -2,962
  -3,102
  -3,242
  -3,382
  -3,524
  -3,667
  -3,813
  -3,964
  -4,119
  -4,281
  -4,449
Cash from operations, $m
  3,754
  5,469
  7,675
  10,446
  13,843
  17,925
  22,736
  28,311
  34,673
  41,836
  49,455
  58,221
  67,777
  78,107
  89,193
  101,018
  113,562
  126,811
  140,750
  155,370
  170,664
  186,632
  203,276
  220,605
  238,630
  257,369
  276,844
  297,082
  318,112
  339,970
Maintenance CAPEX, $m
  -1,110
  -1,623
  -2,307
  -3,194
  -4,316
  -5,701
  -7,377
  -9,365
  -11,683
  -14,344
  -17,356
  -20,723
  -24,445
  -28,519
  -32,939
  -37,698
  -42,788
  -48,202
  -53,932
  -59,972
  -66,316
  -72,962
  -79,907
  -87,152
  -94,700
  -102,555
  -110,723
  -119,214
  -128,038
  -137,207
New CAPEX, $m
  -4,517
  -6,022
  -7,807
  -9,869
  -12,191
  -14,744
  -17,494
  -20,399
  -23,418
  -26,508
  -29,631
  -32,753
  -35,848
  -38,894
  -41,879
  -44,796
  -47,643
  -50,425
  -53,150
  -55,831
  -58,481
  -61,118
  -63,758
  -66,420
  -69,122
  -71,882
  -74,718
  -77,649
  -80,690
  -83,859
Cash from investing activities, $m
  -5,627
  -7,645
  -10,114
  -13,063
  -16,507
  -20,445
  -24,871
  -29,764
  -35,101
  -40,852
  -46,987
  -53,476
  -60,293
  -67,413
  -74,818
  -82,494
  -90,431
  -98,627
  -107,082
  -115,803
  -124,797
  -134,080
  -143,665
  -153,572
  -163,822
  -174,437
  -185,441
  -196,863
  -208,728
  -221,066
Free cash flow, $m
  -1,872
  -2,177
  -2,439
  -2,618
  -2,663
  -2,520
  -2,134
  -1,453
  -427
  985
  2,468
  4,745
  7,484
  10,694
  14,376
  18,525
  23,132
  28,184
  33,668
  39,567
  45,867
  52,552
  59,611
  67,032
  74,808
  82,932
  91,403
  100,219
  109,384
  118,904
Issuance/(repayment) of debt, $m
  6,254
  8,365
  10,844
  13,707
  16,932
  20,478
  24,297
  28,333
  32,525
  36,817
  41,155
  45,492
  49,790
  54,021
  58,167
  62,217
  66,172
  70,036
  73,821
  77,545
  81,226
  84,888
  88,555
  92,252
  96,005
  99,838
  103,778
  107,848
  112,072
  116,473
Issuance/(repurchase) of shares, $m
  990
  568
  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  
  7,244
  8,933
  10,844
  13,707
  16,932
  20,478
  24,297
  28,333
  32,525
  36,817
  41,155
  45,492
  49,790
  54,021
  58,167
  62,217
  66,172
  70,036
  73,821
  77,545
  81,226
  84,888
  88,555
  92,252
  96,005
  99,838
  103,778
  107,848
  112,072
  116,473
Total cash flow (excl. dividends), $m
  5,371
  6,756
  8,405
  11,089
  14,269
  17,958
  22,163
  26,880
  32,098
  37,802
  43,623
  50,237
  57,274
  64,715
  72,542
  80,742
  89,303
  98,220
  107,489
  117,112
  127,093
  137,440
  148,166
  159,284
  170,812
  182,770
  195,180
  208,067
  221,456
  235,377
Retained Cash Flow (-), $m
  -1,588
  -2,117
  -2,745
  -3,470
  -4,286
  -5,184
  -6,150
  -7,172
  -8,233
  -9,320
  -10,418
  -11,515
  -12,603
  -13,674
  -14,724
  -15,749
  -16,750
  -17,728
  -18,687
  -19,629
  -20,561
  -21,488
  -22,416
  -23,352
  -24,302
  -25,272
  -26,270
  -27,300
  -28,369
  -29,483
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
  3,783
  4,639
  5,660
  7,620
  9,983
  12,774
  16,012
  19,708
  23,865
  28,482
  33,205
  38,721
  44,671
  51,040
  57,818
  64,993
  72,553
  80,492
  88,802
  97,483
  106,532
  115,952
  125,750
  135,932
  146,511
  157,498
  168,911
  180,767
  193,087
  205,894
Discount rate, %
  10.40
  10.92
  11.47
  12.04
  12.64
  13.27
  13.94
  14.63
  15.37
  16.13
  16.94
  17.79
  18.68
  19.61
  20.59
  21.62
  22.70
  23.84
  25.03
  26.28
  27.59
  28.97
  30.42
  31.94
  33.54
  35.22
  36.98
  38.83
  40.77
  42.81
PV of cash for distribution, $m
  3,427
  3,770
  4,087
  4,836
  5,505
  6,047
  6,424
  6,609
  6,593
  6,382
  5,937
  5,429
  4,822
  4,160
  3,486
  2,836
  2,240
  1,716
  1,274
  917
  638
  430
  280
  175
  106
  62
  35
  19
  10
  5
Current shareholders' claim on cash, %
  86.0
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8
  80.8

FINANCIAL RATIOS  of  ADT (ADT)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

ADT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ADT stock intrinsic value calculation we used $4315.502 million for the last fiscal year's total revenue generated by ADT. The default revenue input number comes from 0001 income statement of ADT. 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 ADT stock valuation model: a) initial revenue growth rate of 46.3% 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 10.4%, whose default value for ADT is calculated based on our internal credit rating of ADT, 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 ADT.
    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 ADT stock the variable cost ratio is equal to 62.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1364 million in the base year in the intrinsic value calculation for ADT 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 7.4% for ADT.

Corporate tax rate of 27% is the nominal tax rate for ADT. 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 ADT 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 ADT are equal to 226.2%.

Life of production assets of 8.8 years is the average useful life of capital assets used in ADT 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 ADT is equal to -12%. 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 - $3433.112 million for ADT - 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 766.77 million for ADT 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 ADT at the current share price and the inputted number of shares is $6.1 billion.

COMPANY NEWS

▶ ADT: 3Q Earnings Snapshot   [Nov-08-18 05:13AM  Associated Press]
▶ ADT Reports Third Quarter 2018 Results   [04:05PM  GlobeNewswire]
▶ [$$] ADT to Buy Red Hawk Fire & Security From Comvest for $317.5 Million   [Oct-25-18 12:55PM  The Wall Street Journal]
▶ ADT agrees to acquire South Florida company for $317.5M   [07:48AM  American City Business Journals]
▶ IBD Stock Of The Day: Can Home Security Firm Buck Amazon, Google?   [Sep-27-18 02:21PM  Investor's Business Daily]
▶ ADT Surges: Stock Moves 6.6% Higher   [Sep-21-18 08:57AM  Zacks]
▶ ADT Helps Canadian Customers Survive Fast-Moving Fire   [Sep-19-18 01:00PM  GlobeNewswire]
▶ CEO of ADT to retire   [Sep-05-18 07:41AM  American City Business Journals]
▶ ADT Announces Senior Leadership Succession Plan   [Sep-04-18 04:03PM  PR Newswire]
▶ 3 Top Stocks Under $10   [Aug-13-18 04:15PM  Motley Fool]
▶ ADT: 2Q Earnings Snapshot   [Aug-08-18 07:14PM  Associated Press]
▶ ADT Reports Second Quarter 2018 Results   [04:05PM  GlobeNewswire]
▶ ADT, Inc. to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ ADT acquires Triad internet security firm Secure Designs Inc.   [06:30AM  American City Business Journals]
▶ Former Chewy.com, Amazon exec joins ADT   [Jul-31-18 07:21AM  American City Business Journals]
▶ ADT Names Jochen Koedijk as New Chief Marketing Officer   [Jul-30-18 02:45PM  GlobeNewswire]
▶ ADT Inc. Sets Date for 2018 Annual Meeting of Stockholders   [Jun-28-18 04:30PM  GlobeNewswire]

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