Intrinsic value of Aetna - AET

Previous Close

$196.95

  Intrinsic Value

$132.01

stock screener

  Rating & Target

sell

-33%

Previous close

$196.95

 
Intrinsic value

$132.01

 
Up/down potential

-33%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as AET.

We calculate the intrinsic value of AET 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 64.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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, %
  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
  61,746
  63,166
  64,789
  66,612
  68,631
  70,847
  73,260
  75,872
  78,685
  81,705
  84,936
  88,383
  92,053
  95,954
  100,093
  104,479
  109,123
  114,033
  119,221
  124,699
  130,479
  136,575
  143,000
  149,770
  156,900
  164,407
  172,308
  180,623
  189,371
  198,572
Variable operating expenses, $m
  40,605
  41,512
  42,549
  43,713
  45,002
  46,417
  47,958
  49,626
  51,423
  53,351
  54,239
  56,440
  58,784
  61,275
  63,918
  66,719
  69,684
  72,820
  76,133
  79,631
  83,322
  87,215
  91,318
  95,641
  100,194
  104,988
  110,034
  115,344
  120,930
  126,806
Fixed operating expenses, $m
  17,909
  18,302
  18,705
  19,117
  19,537
  19,967
  20,406
  20,855
  21,314
  21,783
  22,262
  22,752
  23,253
  23,764
  24,287
  24,821
  25,367
  25,925
  26,496
  27,079
  27,674
  28,283
  28,905
  29,541
  30,191
  30,855
  31,534
  32,228
  32,937
  33,662
Total operating expenses, $m
  58,514
  59,814
  61,254
  62,830
  64,539
  66,384
  68,364
  70,481
  72,737
  75,134
  76,501
  79,192
  82,037
  85,039
  88,205
  91,540
  95,051
  98,745
  102,629
  106,710
  110,996
  115,498
  120,223
  125,182
  130,385
  135,843
  141,568
  147,572
  153,867
  160,468
Operating income, $m
  3,232
  3,351
  3,535
  3,783
  4,092
  4,463
  4,896
  5,391
  5,949
  6,571
  8,435
  9,191
  10,017
  10,915
  11,888
  12,939
  14,071
  15,287
  16,592
  17,989
  19,482
  21,077
  22,776
  24,587
  26,514
  28,563
  30,740
  33,051
  35,504
  38,105
EBITDA, $m
  5,685
  5,834
  6,052
  6,336
  6,688
  7,104
  7,587
  8,136
  8,753
  9,438
  10,193
  11,020
  11,922
  12,901
  13,960
  15,102
  16,330
  17,648
  19,060
  20,570
  22,183
  23,904
  25,737
  27,687
  29,762
  31,966
  34,307
  36,790
  39,424
  42,215
Interest expense (income), $m
  541
  495
  538
  588
  646
  710
  781
  859
  945
  1,037
  1,136
  1,243
  1,357
  1,479
  1,608
  1,746
  1,892
  2,047
  2,211
  2,384
  2,568
  2,761
  2,965
  3,180
  3,407
  3,646
  3,898
  4,163
  4,442
  4,736
  5,045
Earnings before tax, $m
  2,737
  2,813
  2,947
  3,137
  3,382
  3,682
  4,036
  4,446
  4,912
  5,435
  7,192
  7,834
  8,538
  9,306
  10,142
  11,047
  12,024
  13,076
  14,208
  15,421
  16,721
  18,111
  19,596
  21,180
  22,868
  24,665
  26,577
  28,609
  30,768
  33,060
Tax expense, $m
  739
  760
  796
  847
  913
  994
  1,090
  1,200
  1,326
  1,467
  1,942
  2,115
  2,305
  2,513
  2,738
  2,983
  3,246
  3,531
  3,836
  4,164
  4,515
  4,890
  5,291
  5,719
  6,174
  6,660
  7,176
  7,724
  8,307
  8,926
Net income, $m
  1,998
  2,054
  2,151
  2,290
  2,469
  2,688
  2,946
  3,245
  3,586
  3,967
  5,250
  5,719
  6,233
  6,794
  7,404
  8,064
  8,777
  9,546
  10,372
  11,258
  12,207
  13,221
  14,305
  15,461
  16,694
  18,005
  19,401
  20,885
  22,461
  24,134

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
  56,235
  57,528
  59,007
  60,666
  62,506
  64,524
  66,721
  69,100
  71,662
  74,413
  77,355
  80,494
  83,837
  87,390
  91,159
  95,154
  99,383
  103,855
  108,580
  113,569
  118,833
  124,385
  130,237
  136,402
  142,896
  149,733
  156,929
  164,502
  172,469
  180,849
Adjusted assets (=assets-cash), $m
  56,235
  57,528
  59,007
  60,666
  62,506
  64,524
  66,721
  69,100
  71,662
  74,413
  77,355
  80,494
  83,837
  87,390
  91,159
  95,154
  99,383
  103,855
  108,580
  113,569
  118,833
  124,385
  130,237
  136,402
  142,896
  149,733
  156,929
  164,502
  172,469
  180,849
Revenue / Adjusted assets
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
  1.098
Average production assets, $m
  12,781
  13,075
  13,411
  13,789
  14,207
  14,665
  15,165
  15,705
  16,288
  16,913
  17,582
  18,295
  19,055
  19,862
  20,719
  21,627
  22,588
  23,605
  24,679
  25,813
  27,009
  28,271
  29,601
  31,002
  32,478
  34,032
  35,668
  37,389
  39,200
  41,104
Working capital, $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 debt, $m
  9,965
  10,893
  11,955
  13,146
  14,467
  15,916
  17,494
  19,202
  21,042
  23,016
  25,129
  27,383
  29,783
  32,334
  35,040
  37,909
  40,945
  44,156
  47,548
  51,131
  54,910
  58,896
  63,098
  67,525
  72,187
  77,096
  82,263
  87,700
  93,421
  99,437
Total liabilities, $m
  40,377
  41,305
  42,367
  43,558
  44,879
  46,328
  47,906
  49,614
  51,454
  53,428
  55,541
  57,795
  60,195
  62,746
  65,452
  68,321
  71,357
  74,568
  77,960
  81,543
  85,322
  89,308
  93,510
  97,937
  102,599
  107,508
  112,675
  118,112
  123,833
  129,849
Total equity, $m
  15,858
  16,223
  16,640
  17,108
  17,627
  18,196
  18,815
  19,486
  20,209
  20,984
  21,814
  22,699
  23,642
  24,644
  25,707
  26,834
  28,026
  29,287
  30,620
  32,026
  33,511
  35,077
  36,727
  38,465
  40,297
  42,225
  44,254
  46,390
  48,636
  50,999
Total liabilities and equity, $m
  56,235
  57,528
  59,007
  60,666
  62,506
  64,524
  66,721
  69,100
  71,663
  74,412
  77,355
  80,494
  83,837
  87,390
  91,159
  95,155
  99,383
  103,855
  108,580
  113,569
  118,833
  124,385
  130,237
  136,402
  142,896
  149,733
  156,929
  164,502
  172,469
  180,848
Debt-to-equity ratio
  0.630
  0.670
  0.720
  0.770
  0.820
  0.870
  0.930
  0.990
  1.040
  1.100
  1.150
  1.210
  1.260
  1.310
  1.360
  1.410
  1.460
  1.510
  1.550
  1.600
  1.640
  1.680
  1.720
  1.760
  1.790
  1.830
  1.860
  1.890
  1.920
  1.950
Adjusted equity ratio
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282
  0.282

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,998
  2,054
  2,151
  2,290
  2,469
  2,688
  2,946
  3,245
  3,586
  3,967
  5,250
  5,719
  6,233
  6,794
  7,404
  8,064
  8,777
  9,546
  10,372
  11,258
  12,207
  13,221
  14,305
  15,461
  16,694
  18,005
  19,401
  20,885
  22,461
  24,134
Depreciation, amort., depletion, $m
  2,453
  2,483
  2,516
  2,554
  2,596
  2,642
  2,692
  2,746
  2,804
  2,866
  1,758
  1,830
  1,906
  1,986
  2,072
  2,163
  2,259
  2,360
  2,468
  2,581
  2,701
  2,827
  2,960
  3,100
  3,248
  3,403
  3,567
  3,739
  3,920
  4,110
Funds from operations, $m
  4,452
  4,536
  4,668
  4,844
  5,065
  5,329
  5,638
  5,991
  6,389
  6,834
  7,008
  7,548
  8,138
  8,780
  9,476
  10,227
  11,036
  11,906
  12,840
  13,839
  14,907
  16,048
  17,265
  18,562
  19,941
  21,409
  22,968
  24,624
  26,381
  28,244
Change in working capital, $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 from operations, $m
  4,452
  4,536
  4,668
  4,844
  5,065
  5,329
  5,638
  5,991
  6,389
  6,834
  7,008
  7,548
  8,138
  8,780
  9,476
  10,227
  11,036
  11,906
  12,840
  13,839
  14,907
  16,048
  17,265
  18,562
  19,941
  21,409
  22,968
  24,624
  26,381
  28,244
Maintenance CAPEX, $m
  -1,250
  -1,278
  -1,308
  -1,341
  -1,379
  -1,421
  -1,467
  -1,516
  -1,571
  -1,629
  -1,691
  -1,758
  -1,830
  -1,906
  -1,986
  -2,072
  -2,163
  -2,259
  -2,360
  -2,468
  -2,581
  -2,701
  -2,827
  -2,960
  -3,100
  -3,248
  -3,403
  -3,567
  -3,739
  -3,920
New CAPEX, $m
  -280
  -294
  -336
  -377
  -418
  -459
  -499
  -541
  -582
  -625
  -669
  -714
  -760
  -807
  -857
  -908
  -961
  -1,016
  -1,074
  -1,134
  -1,196
  -1,262
  -1,330
  -1,401
  -1,476
  -1,554
  -1,636
  -1,721
  -1,811
  -1,905
Cash from investing activities, $m
  -1,530
  -1,572
  -1,644
  -1,718
  -1,797
  -1,880
  -1,966
  -2,057
  -2,153
  -2,254
  -2,360
  -2,472
  -2,590
  -2,713
  -2,843
  -2,980
  -3,124
  -3,275
  -3,434
  -3,602
  -3,777
  -3,963
  -4,157
  -4,361
  -4,576
  -4,802
  -5,039
  -5,288
  -5,550
  -5,825
Free cash flow, $m
  2,922
  2,964
  3,024
  3,126
  3,268
  3,450
  3,672
  3,934
  4,236
  4,580
  4,648
  5,076
  5,549
  6,067
  6,632
  7,247
  7,912
  8,631
  9,405
  10,237
  11,130
  12,086
  13,108
  14,200
  15,365
  16,607
  17,929
  19,336
  20,831
  22,420
Issuance/(repayment) of debt, $m
  806
  929
  1,062
  1,192
  1,321
  1,449
  1,578
  1,708
  1,840
  1,975
  2,113
  2,254
  2,400
  2,551
  2,707
  2,868
  3,036
  3,211
  3,393
  3,582
  3,780
  3,986
  4,202
  4,427
  4,662
  4,909
  5,167
  5,437
  5,720
  6,017
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  806
  929
  1,062
  1,192
  1,321
  1,449
  1,578
  1,708
  1,840
  1,975
  2,113
  2,254
  2,400
  2,551
  2,707
  2,868
  3,036
  3,211
  3,393
  3,582
  3,780
  3,986
  4,202
  4,427
  4,662
  4,909
  5,167
  5,437
  5,720
  6,017
Total cash flow (excl. dividends), $m
  3,727
  3,893
  4,086
  4,317
  4,588
  4,899
  5,250
  5,642
  6,076
  6,555
  6,761
  7,331
  7,949
  8,618
  9,339
  10,115
  10,949
  11,842
  12,798
  13,819
  14,909
  16,072
  17,310
  18,627
  20,028
  21,516
  23,096
  24,773
  26,551
  28,436
Retained Cash Flow (-), $m
  -278
  -365
  -417
  -468
  -519
  -569
  -620
  -671
  -723
  -776
  -830
  -885
  -943
  -1,002
  -1,063
  -1,127
  -1,193
  -1,261
  -1,332
  -1,407
  -1,485
  -1,566
  -1,650
  -1,739
  -1,831
  -1,928
  -2,029
  -2,136
  -2,247
  -2,363
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
  182
  185
  189
  194
  200
  206
  213
  220
  228
  236
  245
  255
  265
  276
  288
  300
  313
  327
  342
  358
  374
  391
  410
  429
  449
  471
  493
  517
  542
  568
Cash available for distribution, $m
  3,449
  3,528
  3,669
  3,849
  4,070
  4,330
  4,630
  4,971
  5,354
  5,779
  5,931
  6,445
  7,006
  7,616
  8,276
  8,989
  9,756
  10,581
  11,465
  12,412
  13,425
  14,506
  15,659
  16,888
  18,196
  19,588
  21,067
  22,637
  24,305
  26,073
Discount rate, %
  6.30
  6.62
  6.95
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.78
  11.31
  11.88
  12.47
  13.10
  13.75
  14.44
  15.16
  15.92
  16.72
  17.55
  18.43
  19.35
  20.32
  21.33
  22.40
  23.52
  24.70
  25.93
PV of cash for distribution, $m
  3,244
  3,104
  2,999
  2,905
  2,814
  2,722
  2,625
  2,520
  2,403
  2,275
  2,025
  1,888
  1,739
  1,582
  1,419
  1,254
  1,091
  934
  784
  647
  523
  414
  320
  242
  179
  128
  90
  61
  40
  26
Current shareholders' claim on cash, %
  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

Aetna Inc. is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers' compensation administrative services and health information technology (HIT) products and services. The Health Care segment consists of medical, pharmacy benefit management services, dental, behavioral health and vision plans offered on both an Insured basis and an employer-funded basis, and emerging businesses products and services. The Group Insurance segment includes group life insurance and group disability products. Its products are offered on an Insured basis.

FINANCIAL RATIOS  of  Aetna (AET)

Valuation Ratios
P/E Ratio 30.5
Price to Sales 1.1
Price to Book 3.9
Price to Tangible Book
Price to Cash Flow 18.6
Price to Free Cash Flow 20.1
Growth Rates
Sales Growth Rate 4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25.6%
Cap. Spend. - 3 Yr. Gr. Rate -10.8%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 106.4%
Total Debt to Equity 115.5%
Interest Coverage 8
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. 4.5%
Return On Total Capital 7.3%
Ret/ On T. Cap. - 3 Yr. Avg. 8.8%
Return On Equity 13.4%
Return On Equity - 3 Yr. Avg. 14.4%
Asset Turnover 1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 8.3%
EBITDA Margin - 3 Yr. Avg. 8.2%
Operating Margin 7.3%
Oper. Margin - 3 Yr. Avg. 7.2%
Pre-Tax Margin 6.3%
Pre-Tax Margin - 3 Yr. Avg. 6.5%
Net Profit Margin 3.6%
Net Profit Margin - 3 Yr. Avg. 3.7%
Effective Tax Rate 43.5%
Eff/ Tax Rate - 3 Yr. Avg. 42.8%
Payout Ratio 15.5%

AET stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AET stock intrinsic value calculation we used $60535 million for the last fiscal year's total revenue generated by Aetna. The default revenue input number comes from 2017 income statement of Aetna. 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 AET 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 6.3%, whose default value for AET is calculated based on our internal credit rating of Aetna, 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 Aetna.
    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 AET stock the variable cost ratio is equal to 65.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $17523 million in the base year in the intrinsic value calculation for AET 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 5.4% for Aetna.

Corporate tax rate of 27% is the nominal tax rate for Aetna. 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 AET stock is equal to 0.3%.

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 AET are equal to 20.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Aetna 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 AET is equal to 0%. 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 - $15580 million for Aetna - 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 326 million for Aetna 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 Aetna at the current share price and the inputted number of shares is $64.2 billion.

RELATED COMPANIES Price Int.Val. Rating
CNC Centene 143.68 365.62  str.buy
UNH UnitedHealth G 263.48 401.67  str.buy
WCG WellCare Healt 292.36 1,175.97  str.buy
MOH Molina Healthc 133.92 272.24  str.buy
CI Cigna 185.30 33.12  str.sell
ANTM Anthem 264.97 389.02  str.buy
MGLN Magellan Healt 75.85 234.42  str.buy
HUM Humana 329.34 214.34  sell

COMPANY NEWS

▶ Aetna Reached Our Target Price and Is Still Bullish   [Aug-15-18 01:24PM  TheStreet.com]
▶ CVS Health Reports Earnings Below Key Chart Levels   [Aug-06-18 08:19AM  Investopedia]
▶ Health Insurance Carriers Headed for New Highs   [Aug-03-18 09:35AM  Investopedia]
▶ Aetna easily exceeds 2Q expectations   [09:41AM  Associated Press]
▶ Aetna reports Q2 profit, revenue beats   [06:52AM  MarketWatch]
▶ Aetna Reports Second-Quarter 2018 Results   [06:30AM  Business Wire]
▶ Aetna Q2 Earnings Preview   [Aug-01-18 03:38PM  Benzinga]
▶ 5 Domestic Stocks That Crush Trade War Fears   [Jul-24-18 10:49AM  InvestorPlace]
▶ Group protests state's KanCare RFP process   [Jul-23-18 03:57PM  American City Business Journals]
▶ Aetna to Announce Second-Quarter 2018 Results   [Jul-19-18 05:00PM  Business Wire]
▶ Aetna Donates Narcan to Wayne County   [09:00AM  Business Wire]
▶ Boyle development lands Aetna's 200-job expansion   [Jul-09-18 02:43PM  American City Business Journals]
▶ Allina-Aetna CEO: New joint venture will 'transform' health care and reduce costs   [Jul-02-18 02:49PM  American City Business Journals]
▶ Picking Through the Wreckage of Amazon's Pharmacy Move   [Jun-29-18 03:10PM  Barrons.com]
▶ How CVS Grew Into a Drugstore Giant   [06:30AM  Investopedia]
▶ Walgreen Boots Earnings to Raise Questions   [Jun-27-18 04:31PM  TheStreet.com]
▶ Allina-Aetna joint health insurance venture fills out C-suite   [03:49PM  American City Business Journals]
▶ AMA Says Regulators Should Block CVS-Aetna Deal   [Jun-19-18 04:44PM  Forbes]
▶ Sutter Health Plus names new CEO   [09:59AM  American City Business Journals]
▶ Aetna Adding Jobs in New Albany, Expanding Facilities   [Jun-15-18 10:00AM  Business Wire]
▶ Fox shares pop ahead of expected Comcast bid   [Jun-13-18 03:46PM  Reuters]
▶ Best Cheap Stocks To Buy   [10:02AM  Simply Wall St.]
▶ [$$] CVS Health Looks to Aetna for Its Next CFO   [09:51AM  The Wall Street Journal]
▶ LabCorp expands agreement with Aetna   [10:37AM  American City Business Journals]
▶ Yahoo Finance Live: Midday Movers - May 22nd, 2018   [09:40AM  Yahoo Finance Video]
▶ Health Care: Bezos-Buffett-Dimon in CEO Search   [May-16-18 02:04PM  Investopedia]
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.