Intrinsic value of Arrow Electronics - ARW

Previous Close

$68.48

  Intrinsic Value

$137.59

stock screener

  Rating & Target

str. buy

+101%

Previous close

$68.48

 
Intrinsic value

$137.59

 
Up/down potential

+101%

 
Rating

str. buy

We calculate the intrinsic value of ARW 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 6.0

 

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, %
  15.10
  14.09
  13.18
  12.36
  11.63
  10.96
  10.37
  9.83
  9.35
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.68
  6.52
  6.36
  6.23
  6.11
  5.99
  5.90
  5.81
  5.73
  5.65
  5.59
  5.53
  5.48
Revenue, $m
  30,861
  35,210
  39,851
  44,777
  49,983
  55,463
  61,214
  67,231
  73,516
  80,068
  86,892
  93,990
  101,371
  109,042
  117,013
  125,297
  133,907
  142,858
  152,167
  161,851
  171,931
  182,428
  193,363
  204,763
  216,650
  229,054
  242,001
  255,523
  269,649
  284,415
Variable operating expenses, $m
  29,709
  33,856
  38,282
  42,981
  47,946
  53,172
  58,656
  64,396
  70,389
  76,638
  82,870
  89,640
  96,679
  103,995
  111,598
  119,499
  127,710
  136,247
  145,124
  154,361
  163,974
  173,985
  184,415
  195,286
  206,624
  218,453
  230,801
  243,697
  257,170
  271,252
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
  29,709
  33,856
  38,282
  42,981
  47,946
  53,172
  58,656
  64,396
  70,389
  76,638
  82,870
  89,640
  96,679
  103,995
  111,598
  119,499
  127,710
  136,247
  145,124
  154,361
  163,974
  173,985
  184,415
  195,286
  206,624
  218,453
  230,801
  243,697
  257,170
  271,252
Operating income, $m
  1,153
  1,354
  1,569
  1,797
  2,038
  2,291
  2,557
  2,836
  3,127
  3,430
  4,021
  4,350
  4,691
  5,046
  5,415
  5,799
  6,197
  6,611
  7,042
  7,490
  7,957
  8,443
  8,949
  9,476
  10,027
  10,601
  11,200
  11,826
  12,479
  13,163
EBITDA, $m
  1,537
  1,753
  1,985
  2,230
  2,489
  2,762
  3,049
  3,348
  3,661
  3,988
  4,327
  4,681
  5,048
  5,430
  5,827
  6,240
  6,669
  7,115
  7,578
  8,060
  8,562
  9,085
  9,630
  10,197
  10,790
  11,407
  12,052
  12,725
  13,429
  14,164
Interest expense (income), $m
  142
  178
  271
  372
  479
  594
  714
  841
  975
  1,114
  1,260
  1,411
  1,569
  1,734
  1,905
  2,083
  2,267
  2,459
  2,659
  2,866
  3,082
  3,306
  3,540
  3,783
  4,037
  4,301
  4,576
  4,864
  5,164
  5,477
  5,804
Earnings before tax, $m
  975
  1,083
  1,197
  1,317
  1,444
  1,577
  1,716
  1,861
  2,013
  2,170
  2,610
  2,780
  2,957
  3,141
  3,333
  3,531
  3,738
  3,953
  4,176
  4,408
  4,651
  4,903
  5,166
  5,440
  5,726
  6,024
  6,336
  6,662
  7,002
  7,358
Tax expense, $m
  263
  292
  323
  356
  390
  426
  463
  503
  543
  586
  705
  751
  799
  848
  900
  953
  1,009
  1,067
  1,127
  1,190
  1,256
  1,324
  1,395
  1,469
  1,546
  1,627
  1,711
  1,799
  1,891
  1,987
Net income, $m
  712
  790
  874
  962
  1,054
  1,151
  1,253
  1,359
  1,469
  1,584
  1,905
  2,030
  2,159
  2,293
  2,433
  2,578
  2,729
  2,885
  3,048
  3,218
  3,395
  3,579
  3,771
  3,971
  4,180
  4,398
  4,625
  4,863
  5,112
  5,372

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
  18,945
  21,614
  24,463
  27,488
  30,683
  34,048
  37,577
  41,272
  45,130
  49,152
  53,340
  57,698
  62,229
  66,938
  71,831
  76,917
  82,202
  87,697
  93,411
  99,356
  105,544
  111,988
  118,701
  125,698
  132,996
  140,610
  148,558
  156,859
  165,531
  174,595
Adjusted assets (=assets-cash), $m
  18,945
  21,614
  24,463
  27,488
  30,683
  34,048
  37,577
  41,272
  45,130
  49,152
  53,340
  57,698
  62,229
  66,938
  71,831
  76,917
  82,202
  87,697
  93,411
  99,356
  105,544
  111,988
  118,701
  125,698
  132,996
  140,610
  148,558
  156,859
  165,531
  174,595
Revenue / Adjusted assets
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
  1.629
Average production assets, $m
  2,500
  2,852
  3,228
  3,627
  4,049
  4,493
  4,958
  5,446
  5,955
  6,486
  7,038
  7,613
  8,211
  8,832
  9,478
  10,149
  10,846
  11,572
  12,325
  13,110
  13,926
  14,777
  15,662
  16,586
  17,549
  18,553
  19,602
  20,697
  21,842
  23,038
Working capital, $m
  4,691
  5,352
  6,057
  6,806
  7,597
  8,430
  9,304
  10,219
  11,174
  12,170
  13,208
  14,287
  15,408
  16,574
  17,786
  19,045
  20,354
  21,714
  23,129
  24,601
  26,134
  27,729
  29,391
  31,124
  32,931
  34,816
  36,784
  38,839
  40,987
  43,231
Total debt, $m
  5,022
  6,888
  8,880
  10,994
  13,228
  15,579
  18,046
  20,629
  23,325
  26,137
  29,065
  32,111
  35,278
  38,569
  41,990
  45,545
  49,239
  53,080
  57,074
  61,230
  65,555
  70,059
  74,752
  79,643
  84,744
  90,066
  95,622
  101,424
  107,486
  113,821
Total liabilities, $m
  13,242
  15,108
  17,100
  19,214
  21,448
  23,799
  26,267
  28,849
  31,546
  34,357
  37,285
  40,331
  43,498
  46,790
  50,210
  53,765
  57,459
  61,300
  65,294
  69,450
  73,775
  78,279
  82,972
  87,863
  92,964
  98,286
  103,842
  109,644
  115,706
  122,042
Total equity, $m
  5,702
  6,506
  7,363
  8,274
  9,236
  10,248
  11,311
  12,423
  13,584
  14,795
  16,055
  17,367
  18,731
  20,148
  21,621
  23,152
  24,743
  26,397
  28,117
  29,906
  31,769
  33,708
  35,729
  37,835
  40,032
  42,324
  44,716
  47,214
  49,825
  52,553
Total liabilities and equity, $m
  18,944
  21,614
  24,463
  27,488
  30,684
  34,047
  37,578
  41,272
  45,130
  49,152
  53,340
  57,698
  62,229
  66,938
  71,831
  76,917
  82,202
  87,697
  93,411
  99,356
  105,544
  111,987
  118,701
  125,698
  132,996
  140,610
  148,558
  156,858
  165,531
  174,595
Debt-to-equity ratio
  0.880
  1.060
  1.210
  1.330
  1.430
  1.520
  1.600
  1.660
  1.720
  1.770
  1.810
  1.850
  1.880
  1.910
  1.940
  1.970
  1.990
  2.010
  2.030
  2.050
  2.060
  2.080
  2.090
  2.100
  2.120
  2.130
  2.140
  2.150
  2.160
  2.170
Adjusted equity ratio
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301
  0.301

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  712
  790
  874
  962
  1,054
  1,151
  1,253
  1,359
  1,469
  1,584
  1,905
  2,030
  2,159
  2,293
  2,433
  2,578
  2,729
  2,885
  3,048
  3,218
  3,395
  3,579
  3,771
  3,971
  4,180
  4,398
  4,625
  4,863
  5,112
  5,372
Depreciation, amort., depletion, $m
  384
  400
  416
  433
  452
  471
  491
  512
  535
  558
  306
  331
  357
  384
  412
  441
  472
  503
  536
  570
  605
  642
  681
  721
  763
  807
  852
  900
  950
  1,002
Funds from operations, $m
  1,096
  1,190
  1,290
  1,395
  1,506
  1,622
  1,744
  1,871
  2,004
  2,142
  2,211
  2,361
  2,516
  2,677
  2,845
  3,019
  3,200
  3,388
  3,584
  3,788
  4,000
  4,221
  4,452
  4,692
  4,943
  5,204
  5,478
  5,763
  6,061
  6,373
Change in working capital, $m
  615
  661
  705
  749
  791
  833
  874
  915
  955
  996
  1,037
  1,079
  1,122
  1,166
  1,212
  1,259
  1,309
  1,361
  1,415
  1,472
  1,532
  1,595
  1,662
  1,733
  1,807
  1,885
  1,968
  2,055
  2,147
  2,244
Cash from operations, $m
  481
  529
  584
  646
  714
  789
  870
  956
  1,049
  1,146
  1,174
  1,282
  1,394
  1,511
  1,633
  1,760
  1,891
  2,028
  2,169
  2,316
  2,468
  2,626
  2,790
  2,959
  3,136
  3,319
  3,510
  3,708
  3,914
  4,129
Maintenance CAPEX, $m
  -94
  -109
  -124
  -140
  -158
  -176
  -195
  -216
  -237
  -259
  -282
  -306
  -331
  -357
  -384
  -412
  -441
  -472
  -503
  -536
  -570
  -605
  -642
  -681
  -721
  -763
  -807
  -852
  -900
  -950
New CAPEX, $m
  -331
  -352
  -376
  -399
  -422
  -444
  -466
  -487
  -509
  -531
  -553
  -575
  -598
  -621
  -646
  -671
  -697
  -725
  -754
  -784
  -816
  -850
  -886
  -923
  -963
  -1,005
  -1,049
  -1,095
  -1,144
  -1,196
Cash from investing activities, $m
  -425
  -461
  -500
  -539
  -580
  -620
  -661
  -703
  -746
  -790
  -835
  -881
  -929
  -978
  -1,030
  -1,083
  -1,138
  -1,197
  -1,257
  -1,320
  -1,386
  -1,455
  -1,528
  -1,604
  -1,684
  -1,768
  -1,856
  -1,947
  -2,044
  -2,146
Free cash flow, $m
  55
  68
  84
  107
  135
  169
  209
  253
  303
  356
  339
  401
  465
  533
  603
  677
  753
  831
  912
  996
  1,082
  1,170
  1,261
  1,355
  1,452
  1,551
  1,654
  1,760
  1,870
  1,983
Issuance/(repayment) of debt, $m
  1,732
  1,866
  1,991
  2,114
  2,234
  2,352
  2,467
  2,582
  2,697
  2,812
  2,928
  3,046
  3,167
  3,292
  3,421
  3,555
  3,694
  3,841
  3,994
  4,156
  4,325
  4,504
  4,693
  4,891
  5,101
  5,322
  5,556
  5,802
  6,062
  6,336
Issuance/(repurchase) of shares, $m
  41
  13
  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  
  1,773
  1,879
  1,991
  2,114
  2,234
  2,352
  2,467
  2,582
  2,697
  2,812
  2,928
  3,046
  3,167
  3,292
  3,421
  3,555
  3,694
  3,841
  3,994
  4,156
  4,325
  4,504
  4,693
  4,891
  5,101
  5,322
  5,556
  5,802
  6,062
  6,336
Total cash flow (excl. dividends), $m
  1,829
  1,947
  2,076
  2,221
  2,369
  2,521
  2,676
  2,836
  2,999
  3,168
  3,267
  3,447
  3,632
  3,825
  4,024
  4,231
  4,447
  4,672
  4,907
  5,151
  5,407
  5,674
  5,954
  6,247
  6,553
  6,874
  7,210
  7,562
  7,932
  8,319
Retained Cash Flow (-), $m
  -753
  -803
  -858
  -910
  -962
  -1,013
  -1,062
  -1,112
  -1,161
  -1,211
  -1,261
  -1,312
  -1,364
  -1,417
  -1,473
  -1,531
  -1,591
  -1,654
  -1,720
  -1,789
  -1,863
  -1,940
  -2,021
  -2,106
  -2,197
  -2,292
  -2,392
  -2,498
  -2,610
  -2,728
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
  1,076
  1,144
  1,218
  1,310
  1,407
  1,508
  1,614
  1,724
  1,838
  1,957
  2,007
  2,135
  2,268
  2,407
  2,551
  2,701
  2,856
  3,018
  3,187
  3,362
  3,545
  3,735
  3,933
  4,140
  4,356
  4,582
  4,818
  5,064
  5,321
  5,591
Discount rate, %
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
  1,002
  985
  963
  943
  915
  878
  832
  780
  723
  660
  574
  511
  448
  387
  328
  274
  224
  180
  142
  109
  82
  60
  43
  30
  21
  14
  9
  5
  3
  2
Current shareholders' claim on cash, %
  99.3
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1
  99.1

Arrow Electronics, Inc. is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers. The Company's segments include the global components business; the global enterprise computing solutions (ECS) business, and corporate business segment. It distributes electronic components to original equipment manufacturers and contract manufacturers through its global components business segment. Through global ECS business segment, it provides enterprise computing solutions to value-added resellers. The Global components segment markets and distributes electronic components and provides a range of value-added capabilities. Global ECS' portfolio of computing solutions includes datacenter, cloud, security, and analytics solutions.

FINANCIAL RATIOS  of  Arrow Electronics (ARW)

Valuation Ratios
P/E Ratio 11.6
Price to Sales 0.3
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 17.1
Price to Free Cash Flow 31.9
Growth Rates
Sales Growth Rate 2.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.5%
Cap. Spend. - 3 Yr. Gr. Rate 7.3%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 61.1%
Total Debt to Equity 63.2%
Interest Coverage 6
Management Effectiveness
Return On Assets 4.6%
Ret/ On Assets - 3 Yr. Avg. 4.7%
Return On Total Capital 7.6%
Ret/ On T. Cap. - 3 Yr. Avg. 7.7%
Return On Equity 12.2%
Return On Equity - 3 Yr. Avg. 12.1%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 13.2%
Gross Margin - 3 Yr. Avg. 13.1%
EBITDA Margin 4.3%
EBITDA Margin - 3 Yr. Avg. 4.2%
Operating Margin 3.6%
Oper. Margin - 3 Yr. Avg. 3.5%
Pre-Tax Margin 3%
Pre-Tax Margin - 3 Yr. Avg. 3%
Net Profit Margin 2.2%
Net Profit Margin - 3 Yr. Avg. 2.2%
Effective Tax Rate 26.6%
Eff/ Tax Rate - 3 Yr. Avg. 27.1%
Payout Ratio 0%

ARW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARW stock intrinsic value calculation we used $26812.508 million for the last fiscal year's total revenue generated by Arrow Electronics. The default revenue input number comes from 0001 income statement of Arrow Electronics. 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 ARW stock valuation model: a) initial revenue growth rate of 15.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.4%, whose default value for ARW is calculated based on our internal credit rating of Arrow Electronics, 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 Arrow Electronics.
    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 ARW stock the variable cost ratio is equal to 96.4%.

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 ARW 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 Arrow Electronics.

Corporate tax rate of 27% is the nominal tax rate for Arrow Electronics. 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 ARW 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 ARW are equal to 8.1%.

Life of production assets of 23 years is the average useful life of capital assets used in Arrow Electronics 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 ARW is equal to 15.2%. 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 - $4949.255 million for Arrow Electronics - 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 87.389 million for Arrow Electronics 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 Arrow Electronics at the current share price and the inputted number of shares is $6.0 billion.

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COMPANY NEWS

▶ FPA Capital Fund Establishes 3 Positions in 3rd Quarter   [Oct-10-18 06:58PM  GuruFocus.com]
▶ How Financially Strong Is Arrow Electronics Inc (NYSE:ARW)?   [Oct-03-18 01:00PM  Simply Wall St.]
▶ Should You Buy Arrow Electronics Inc (NYSE:ARW) Now?   [Aug-28-18 03:45PM  Simply Wall St.]
▶ Arrow Electronics, Inc. to Host Earnings Call   [Aug-02-18 11:00AM  ACCESSWIRE]
▶ Arrow Electronics: 2Q Earnings Snapshot   [09:54AM  Associated Press]
▶ Moat Ratings Upgrades for Arrow Electronics and Avnet   [Jul-06-18 06:33AM  Morningstar]
▶ Arrow Electronics Selected as HPE Learning Partner   [Jun-26-18 05:39PM  Business Wire]
▶ Top Ranked Value Stocks to Buy for June 21st   [Jun-21-18 07:35AM  Zacks]
▶ These 10 Colorado companies landed on the 2018 Fortune 500   [May-21-18 02:33PM  American City Business Journals]
▶ Arrow Electronics: 1Q Earnings Snapshot   [08:51AM  Associated Press]
▶ Top Ranked Value Stocks to Buy for April 13th   [Apr-13-18 06:45AM  Zacks]
▶ Edited Transcript of ARW presentation 7-Mar-17 4:00pm GMT   [Apr-10-18 10:59AM  Thomson Reuters StreetEvents]
▶ D.C.-area entrepreneur donates largest gift to Temple University's new library   [Apr-06-18 12:12PM  American City Business Journals]
▶ Top Ranked Value Stocks to Buy for March 29th   [Mar-29-18 07:36AM  Zacks]
▶ Arrow Electronics posts record sales, but its profit is zapped by U.S. tax reform   [Feb-07-18 02:40PM  American City Business Journals]
▶ Arrow Electronics, Inc. to Host Earnings Call   [Feb-06-18 10:00AM  ACCESSWIRE]

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