Intrinsic value of Avangrid, Inc. - AGR

Previous Close

$50.16

  Intrinsic Value

$9.43

stock screener

  Rating & Target

str. sell

-81%

Previous close

$50.16

 
Intrinsic value

$9.43

 
Up/down potential

-81%

 
Rating

str. sell

We calculate the intrinsic value of AGR 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 15.5

 

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, %
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
  6.39
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
Revenue, $m
  7,035
  7,615
  8,218
  8,844
  9,495
  10,172
  10,875
  11,606
  12,366
  13,157
  13,980
  14,837
  15,730
  16,660
  17,630
  18,642
  19,699
  20,802
  21,955
  23,159
  24,418
  25,736
  27,114
  28,556
  30,066
  31,647
  33,302
  35,037
  36,855
  38,760
Variable operating expenses, $m
  6,407
  6,907
  7,426
  7,966
  8,527
  9,111
  9,716
  10,346
  11,001
  11,683
  12,047
  12,786
  13,555
  14,357
  15,193
  16,065
  16,975
  17,926
  18,919
  19,957
  21,042
  22,177
  23,365
  24,608
  25,909
  27,271
  28,698
  30,193
  31,760
  33,402
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
  6,407
  6,907
  7,426
  7,966
  8,527
  9,111
  9,716
  10,346
  11,001
  11,683
  12,047
  12,786
  13,555
  14,357
  15,193
  16,065
  16,975
  17,926
  18,919
  19,957
  21,042
  22,177
  23,365
  24,608
  25,909
  27,271
  28,698
  30,193
  31,760
  33,402
Operating income, $m
  628
  708
  791
  878
  968
  1,061
  1,159
  1,260
  1,365
  1,474
  1,933
  2,051
  2,175
  2,303
  2,438
  2,577
  2,724
  2,876
  3,035
  3,202
  3,376
  3,558
  3,749
  3,948
  4,157
  4,375
  4,604
  4,844
  5,095
  5,359
EBITDA, $m
  1,870
  2,024
  2,184
  2,351
  2,524
  2,704
  2,891
  3,085
  3,287
  3,497
  3,716
  3,944
  4,181
  4,429
  4,687
  4,956
  5,236
  5,530
  5,836
  6,156
  6,491
  6,841
  7,207
  7,591
  7,992
  8,412
  8,853
  9,314
  9,797
  10,303
Interest expense (income), $m
  229
  343
  423
  506
  592
  681
  773
  870
  970
  1,074
  1,182
  1,295
  1,412
  1,534
  1,661
  1,794
  1,932
  2,076
  2,226
  2,383
  2,548
  2,719
  2,898
  3,086
  3,282
  3,487
  3,702
  3,928
  4,163
  4,410
  4,669
Earnings before tax, $m
  285
  285
  285
  286
  287
  288
  289
  290
  291
  292
  638
  639
  641
  642
  644
  646
  648
  650
  652
  654
  657
  660
  663
  666
  669
  673
  677
  681
  685
  690
Tax expense, $m
  77
  77
  77
  77
  78
  78
  78
  78
  78
  79
  172
  173
  173
  173
  174
  174
  175
  175
  176
  177
  177
  178
  179
  180
  181
  182
  183
  184
  185
  186
Net income, $m
  208
  208
  208
  209
  210
  210
  211
  211
  212
  213
  466
  467
  468
  469
  470
  471
  473
  474
  476
  478
  480
  482
  484
  486
  489
  491
  494
  497
  500
  504

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
  35,001
  37,885
  40,884
  44,001
  47,240
  50,606
  54,105
  57,742
  61,523
  65,458
  69,552
  73,816
  78,257
  82,886
  87,713
  92,748
  98,005
  103,493
  109,227
  115,220
  121,485
  128,038
  134,893
  142,069
  149,580
  157,445
  165,684
  174,315
  183,359
  192,838
Adjusted assets (=assets-cash), $m
  35,001
  37,885
  40,884
  44,001
  47,240
  50,606
  54,105
  57,742
  61,523
  65,458
  69,552
  73,816
  78,257
  82,886
  87,713
  92,748
  98,005
  103,493
  109,227
  115,220
  121,485
  128,038
  134,893
  142,069
  149,580
  157,445
  165,684
  174,315
  183,359
  192,838
Revenue / Adjusted assets
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
  0.201
Average production assets, $m
  26,923
  29,142
  31,449
  33,846
  36,338
  38,928
  41,619
  44,416
  47,325
  50,352
  53,501
  56,781
  60,197
  63,758
  67,471
  71,345
  75,388
  79,610
  84,020
  88,630
  93,449
  98,490
  103,764
  109,283
  115,061
  121,111
  127,449
  134,088
  141,045
  148,336
Working capital, $m
  -120
  -129
  -140
  -150
  -161
  -173
  -185
  -197
  -210
  -224
  -238
  -252
  -267
  -283
  -300
  -317
  -335
  -354
  -373
  -394
  -415
  -438
  -461
  -485
  -511
  -538
  -566
  -596
  -627
  -659
Total debt, $m
  7,836
  9,365
  10,954
  12,606
  14,323
  16,107
  17,961
  19,889
  21,893
  23,979
  26,149
  28,408
  30,762
  33,215
  35,774
  38,443
  41,228
  44,137
  47,176
  50,352
  53,673
  57,146
  60,780
  64,582
  68,563
  72,732
  77,099
  81,673
  86,466
  91,490
Total liabilities, $m
  18,550
  20,079
  21,668
  23,320
  25,037
  26,821
  28,675
  30,603
  32,607
  34,693
  36,863
  39,122
  41,476
  43,929
  46,488
  49,157
  51,942
  54,851
  57,890
  61,066
  64,387
  67,860
  71,494
  75,296
  79,277
  83,446
  87,813
  92,387
  97,180
  102,204
Total equity, $m
  16,450
  17,806
  19,215
  20,680
  22,203
  23,785
  25,429
  27,139
  28,916
  30,765
  32,690
  34,693
  36,781
  38,956
  41,225
  43,592
  46,062
  48,642
  51,337
  54,153
  57,098
  60,178
  63,400
  66,772
  70,303
  73,999
  77,871
  81,928
  86,179
  90,634
Total liabilities and equity, $m
  35,000
  37,885
  40,883
  44,000
  47,240
  50,606
  54,104
  57,742
  61,523
  65,458
  69,553
  73,815
  78,257
  82,885
  87,713
  92,749
  98,004
  103,493
  109,227
  115,219
  121,485
  128,038
  134,894
  142,068
  149,580
  157,445
  165,684
  174,315
  183,359
  192,838
Debt-to-equity ratio
  0.480
  0.530
  0.570
  0.610
  0.650
  0.680
  0.710
  0.730
  0.760
  0.780
  0.800
  0.820
  0.840
  0.850
  0.870
  0.880
  0.900
  0.910
  0.920
  0.930
  0.940
  0.950
  0.960
  0.970
  0.980
  0.980
  0.990
  1.000
  1.000
  1.010
Adjusted equity ratio
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  208
  208
  208
  209
  210
  210
  211
  211
  212
  213
  466
  467
  468
  469
  470
  471
  473
  474
  476
  478
  480
  482
  484
  486
  489
  491
  494
  497
  500
  504
Depreciation, amort., depletion, $m
  1,242
  1,316
  1,393
  1,473
  1,556
  1,643
  1,732
  1,826
  1,923
  2,023
  1,783
  1,893
  2,007
  2,125
  2,249
  2,378
  2,513
  2,654
  2,801
  2,954
  3,115
  3,283
  3,459
  3,643
  3,835
  4,037
  4,248
  4,470
  4,701
  4,945
Funds from operations, $m
  1,450
  1,524
  1,602
  1,682
  1,766
  1,853
  1,943
  2,037
  2,135
  2,236
  2,249
  2,359
  2,474
  2,594
  2,719
  2,849
  2,986
  3,128
  3,277
  3,432
  3,595
  3,765
  3,943
  4,129
  4,324
  4,528
  4,742
  4,967
  5,202
  5,448
Change in working capital, $m
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -28
  -29
  -31
  -32
Cash from operations, $m
  1,460
  1,534
  1,612
  1,693
  1,777
  1,864
  1,955
  2,049
  2,148
  2,250
  2,263
  2,374
  2,489
  2,610
  2,736
  2,867
  3,004
  3,147
  3,296
  3,453
  3,616
  3,787
  3,966
  4,153
  4,350
  4,555
  4,770
  4,996
  5,233
  5,480
Maintenance CAPEX, $m
  -826
  -897
  -971
  -1,048
  -1,128
  -1,211
  -1,298
  -1,387
  -1,481
  -1,578
  -1,678
  -1,783
  -1,893
  -2,007
  -2,125
  -2,249
  -2,378
  -2,513
  -2,654
  -2,801
  -2,954
  -3,115
  -3,283
  -3,459
  -3,643
  -3,835
  -4,037
  -4,248
  -4,470
  -4,701
New CAPEX, $m
  -2,133
  -2,218
  -2,307
  -2,398
  -2,492
  -2,589
  -2,691
  -2,798
  -2,909
  -3,026
  -3,150
  -3,279
  -3,416
  -3,561
  -3,713
  -3,874
  -4,043
  -4,222
  -4,411
  -4,610
  -4,819
  -5,041
  -5,274
  -5,519
  -5,778
  -6,050
  -6,337
  -6,639
  -6,957
  -7,291
Cash from investing activities, $m
  -2,959
  -3,115
  -3,278
  -3,446
  -3,620
  -3,800
  -3,989
  -4,185
  -4,390
  -4,604
  -4,828
  -5,062
  -5,309
  -5,568
  -5,838
  -6,123
  -6,421
  -6,735
  -7,065
  -7,411
  -7,773
  -8,156
  -8,557
  -8,978
  -9,421
  -9,885
  -10,374
  -10,887
  -11,427
  -11,992
Free cash flow, $m
  -1,500
  -1,582
  -1,666
  -1,753
  -1,843
  -1,936
  -2,034
  -2,135
  -2,242
  -2,354
  -2,565
  -2,689
  -2,820
  -2,957
  -3,103
  -3,256
  -3,418
  -3,588
  -3,768
  -3,958
  -4,158
  -4,369
  -4,591
  -4,825
  -5,071
  -5,331
  -5,604
  -5,891
  -6,194
  -6,512
Issuance/(repayment) of debt, $m
  1,487
  1,529
  1,589
  1,652
  1,717
  1,784
  1,854
  1,928
  2,004
  2,085
  2,170
  2,260
  2,354
  2,453
  2,558
  2,669
  2,786
  2,909
  3,039
  3,176
  3,321
  3,473
  3,634
  3,803
  3,981
  4,169
  4,366
  4,574
  4,793
  5,024
Issuance/(repurchase) of shares, $m
  1,138
  1,148
  1,201
  1,256
  1,313
  1,372
  1,434
  1,498
  1,565
  1,636
  1,459
  1,537
  1,620
  1,707
  1,799
  1,895
  1,998
  2,105
  2,219
  2,339
  2,465
  2,598
  2,738
  2,886
  3,042
  3,206
  3,378
  3,560
  3,751
  3,952
Cash from financing (excl. dividends), $m  
  2,625
  2,677
  2,790
  2,908
  3,030
  3,156
  3,288
  3,426
  3,569
  3,721
  3,629
  3,797
  3,974
  4,160
  4,357
  4,564
  4,784
  5,014
  5,258
  5,515
  5,786
  6,071
  6,372
  6,689
  7,023
  7,375
  7,744
  8,134
  8,544
  8,976
Total cash flow (excl. dividends), $m
  1,126
  1,094
  1,124
  1,155
  1,187
  1,220
  1,254
  1,290
  1,328
  1,367
  1,064
  1,108
  1,154
  1,203
  1,254
  1,308
  1,366
  1,426
  1,490
  1,557
  1,628
  1,703
  1,781
  1,864
  1,952
  2,044
  2,141
  2,243
  2,350
  2,463
Retained Cash Flow (-), $m
  -1,346
  -1,356
  -1,410
  -1,465
  -1,522
  -1,582
  -1,644
  -1,709
  -1,777
  -1,849
  -1,924
  -2,004
  -2,087
  -2,176
  -2,269
  -2,367
  -2,470
  -2,580
  -2,695
  -2,816
  -2,945
  -3,080
  -3,222
  -3,372
  -3,530
  -3,697
  -3,872
  -4,057
  -4,251
  -4,455
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
  -220
  -261
  -285
  -310
  -336
  -362
  -390
  -419
  -450
  -482
  -861
  -896
  -933
  -973
  -1,014
  -1,058
  -1,105
  -1,154
  -1,205
  -1,259
  -1,317
  -1,377
  -1,441
  -1,508
  -1,579
  -1,653
  -1,731
  -1,814
  -1,901
  -1,992
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  -209
  -233
  -238
  -241
  -242
  -240
  -235
  -229
  -220
  -209
  -329
  -299
  -269
  -239
  -210
  -182
  -156
  -131
  -109
  -89
  -72
  -57
  -44
  -33
  -25
  -18
  -13
  -9
  -6
  -4
Current shareholders' claim on cash, %
  93.2
  87.2
  81.8
  76.9
  72.5
  68.4
  64.6
  61.1
  57.8
  54.8
  52.4
  50.1
  47.9
  45.8
  43.8
  42.0
  40.2
  38.5
  36.8
  35.3
  33.8
  32.3
  31.0
  29.6
  28.4
  27.2
  26.0
  24.9
  23.8
  22.8

Avangrid, Inc. is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts. The Renewables segment owns, develops, constructs and/or operates electricity generation, including renewable and thermal generators, and associated transmission facilities. The Renewables segment includes activities relating to renewable energy, mainly wind energy generation and trading related with such activities. The Gas segment operates a natural gas storage and natural gas trading business through its subsidiaries, Enstor, Inc. and Enstor Energy Services, LLC.

FINANCIAL RATIOS  of  Avangrid, Inc. (AGR)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 2.6
Price to Book 1
Price to Tangible Book
Price to Cash Flow 9.9
Price to Free Cash Flow -106.2
Growth Rates
Sales Growth Rate 37.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 57.8%
Cap. Spend. - 3 Yr. Gr. Rate 12.6%
Financial Strength
Quick Ratio 0
Current Ratio 0.2
LT Debt to Equity 29.8%
Total Debt to Equity 33.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 2.5%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital 3.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2.5%
Return On Equity 4.2%
Return On Equity - 3 Yr. Avg. 3.2%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 33.9%
EBITDA Margin - 3 Yr. Avg. 30.6%
Operating Margin 19.8%
Oper. Margin - 3 Yr. Avg. 17%
Pre-Tax Margin 16.8%
Pre-Tax Margin - 3 Yr. Avg. 13%
Net Profit Margin 10.5%
Net Profit Margin - 3 Yr. Avg. 8.6%
Effective Tax Rate 37.6%
Eff/ Tax Rate - 3 Yr. Avg. 29.6%
Payout Ratio 63.7%

AGR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AGR stock intrinsic value calculation we used $6478 million for the last fiscal year's total revenue generated by Avangrid, Inc.. The default revenue input number comes from 0001 income statement of Avangrid, Inc.. 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 AGR stock valuation model: a) initial revenue growth rate of 8.6% 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 5.6%, whose default value for AGR is calculated based on our internal credit rating of Avangrid, Inc., 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 Avangrid, Inc..
    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 AGR stock the variable cost ratio is equal to 91.5%.

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 AGR 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 Avangrid, Inc..

Corporate tax rate of 27% is the nominal tax rate for Avangrid, Inc.. 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 AGR 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 AGR are equal to 382.7%.

Life of production assets of 31 years is the average useful life of capital assets used in Avangrid, Inc. 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 AGR is equal to -1.7%. 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 - $15104 million for Avangrid, Inc. - 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 309.043 million for Avangrid, Inc. 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 Avangrid, Inc. at the current share price and the inputted number of shares is $15.5 billion.

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