Intrinsic value of Ballard Power Systems - BLDP

Previous Close

$2.88

  Intrinsic Value

$12.53

stock screener

  Rating & Target

str. buy

+335%

Previous close

$2.88

 
Intrinsic value

$12.53

 
Up/down potential

+335%

 
Rating

str. buy

We calculate the intrinsic value of BLDP 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 0.5

 

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, %
  42.20
  38.48
  35.13
  32.12
  29.41
  26.97
  24.77
  22.79
  21.01
  19.41
  17.97
  16.67
  15.51
  14.46
  13.51
  12.66
  11.89
  11.20
  10.58
  10.03
  9.52
  9.07
  8.66
  8.30
  7.97
  7.67
  7.40
  7.16
  6.95
  6.75
Revenue, $m
  172
  239
  323
  426
  552
  701
  874
  1,073
  1,299
  1,551
  1,830
  2,135
  2,466
  2,822
  3,204
  3,609
  4,039
  4,491
  4,966
  5,464
  5,985
  6,527
  7,093
  7,681
  8,293
  8,930
  9,591
  10,278
  10,992
  11,734
Variable operating expenses, $m
  107
  146
  196
  256
  330
  418
  520
  637
  769
  918
  1,075
  1,255
  1,449
  1,659
  1,883
  2,121
  2,374
  2,640
  2,919
  3,212
  3,518
  3,837
  4,169
  4,515
  4,875
  5,248
  5,637
  6,041
  6,460
  6,897
Fixed operating expenses, $m
  51
  52
  53
  55
  56
  57
  58
  60
  61
  62
  64
  65
  66
  68
  69
  71
  72
  74
  76
  77
  79
  81
  82
  84
  86
  88
  90
  92
  94
  96
Total operating expenses, $m
  158
  198
  249
  311
  386
  475
  578
  697
  830
  980
  1,139
  1,320
  1,515
  1,727
  1,952
  2,192
  2,446
  2,714
  2,995
  3,289
  3,597
  3,918
  4,251
  4,599
  4,961
  5,336
  5,727
  6,133
  6,554
  6,993
Operating income, $m
  14
  40
  74
  115
  166
  226
  296
  377
  469
  571
  691
  815
  950
  1,096
  1,251
  1,417
  1,593
  1,777
  1,972
  2,175
  2,388
  2,610
  2,842
  3,082
  3,333
  3,593
  3,864
  4,145
  4,437
  4,741
EBITDA, $m
  24
  52
  88
  132
  186
  250
  324
  410
  508
  617
  737
  869
  1,013
  1,167
  1,333
  1,509
  1,695
  1,891
  2,098
  2,314
  2,540
  2,776
  3,021
  3,277
  3,543
  3,819
  4,107
  4,405
  4,716
  5,039
Interest expense (income), $m
  0
  1
  3
  6
  10
  15
  21
  29
  37
  47
  57
  70
  83
  98
  114
  131
  149
  169
  189
  211
  234
  258
  283
  309
  337
  365
  394
  425
  457
  490
  524
Earnings before tax, $m
  13
  37
  67
  105
  150
  205
  268
  340
  422
  514
  621
  732
  853
  982
  1,121
  1,268
  1,424
  1,588
  1,761
  1,941
  2,130
  2,327
  2,532
  2,746
  2,968
  3,199
  3,439
  3,688
  3,947
  4,217
Tax expense, $m
  4
  10
  18
  28
  41
  55
  72
  92
  114
  139
  168
  198
  230
  265
  303
  342
  384
  429
  475
  524
  575
  628
  684
  741
  801
  864
  928
  996
  1,066
  1,139
Net income, $m
  10
  27
  49
  77
  110
  149
  195
  248
  308
  375
  453
  534
  622
  717
  818
  926
  1,039
  1,159
  1,285
  1,417
  1,555
  1,699
  1,849
  2,004
  2,167
  2,335
  2,510
  2,692
  2,882
  3,078

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
  223
  308
  416
  550
  712
  904
  1,128
  1,385
  1,676
  2,001
  2,361
  2,755
  3,182
  3,642
  4,134
  4,657
  5,211
  5,795
  6,408
  7,051
  7,722
  8,423
  9,152
  9,912
  10,701
  11,522
  12,375
  13,262
  14,183
  15,141
Adjusted assets (=assets-cash), $m
  223
  308
  416
  550
  712
  904
  1,128
  1,385
  1,676
  2,001
  2,361
  2,755
  3,182
  3,642
  4,134
  4,657
  5,211
  5,795
  6,408
  7,051
  7,722
  8,423
  9,152
  9,912
  10,701
  11,522
  12,375
  13,262
  14,183
  15,141
Revenue / Adjusted assets
  0.771
  0.776
  0.776
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
  0.775
Average production assets, $m
  64
  88
  119
  158
  204
  259
  323
  397
  481
  574
  677
  790
  912
  1,044
  1,185
  1,335
  1,494
  1,662
  1,838
  2,022
  2,214
  2,415
  2,624
  2,842
  3,069
  3,304
  3,549
  3,803
  4,067
  4,342
Working capital, $m
  5
  7
  10
  13
  17
  22
  27
  33
  40
  48
  57
  66
  76
  87
  99
  112
  125
  139
  154
  169
  186
  202
  220
  238
  257
  277
  297
  319
  341
  364
Total debt, $m
  31
  63
  102
  151
  210
  281
  363
  457
  563
  682
  814
  958
  1,114
  1,283
  1,463
  1,654
  1,857
  2,071
  2,295
  2,530
  2,776
  3,032
  3,299
  3,577
  3,866
  4,167
  4,479
  4,803
  5,141
  5,491
Total liabilities, $m
  81
  113
  152
  201
  261
  331
  413
  507
  613
  733
  864
  1,008
  1,165
  1,333
  1,513
  1,705
  1,907
  2,121
  2,345
  2,581
  2,826
  3,083
  3,350
  3,628
  3,917
  4,217
  4,529
  4,854
  5,191
  5,541
Total equity, $m
  141
  195
  264
  349
  451
  573
  715
  878
  1,063
  1,269
  1,497
  1,747
  2,017
  2,309
  2,621
  2,953
  3,304
  3,674
  4,063
  4,470
  4,896
  5,340
  5,803
  6,284
  6,785
  7,305
  7,846
  8,408
  8,992
  9,599
Total liabilities and equity, $m
  222
  308
  416
  550
  712
  904
  1,128
  1,385
  1,676
  2,002
  2,361
  2,755
  3,182
  3,642
  4,134
  4,658
  5,211
  5,795
  6,408
  7,051
  7,722
  8,423
  9,153
  9,912
  10,702
  11,522
  12,375
  13,262
  14,183
  15,140
Debt-to-equity ratio
  0.220
  0.320
  0.390
  0.430
  0.470
  0.490
  0.510
  0.520
  0.530
  0.540
  0.540
  0.550
  0.550
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
  0.570
Adjusted equity ratio
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  10
  27
  49
  77
  110
  149
  195
  248
  308
  375
  453
  534
  622
  717
  818
  926
  1,039
  1,159
  1,285
  1,417
  1,555
  1,699
  1,849
  2,004
  2,167
  2,335
  2,510
  2,692
  2,882
  3,078
Depreciation, amort., depletion, $m
  10
  12
  14
  17
  20
  24
  28
  33
  39
  45
  46
  54
  62
  72
  81
  91
  102
  114
  126
  138
  152
  165
  180
  195
  210
  226
  243
  260
  279
  297
Funds from operations, $m
  20
  39
  63
  93
  130
  173
  223
  281
  347
  420
  500
  589
  685
  788
  899
  1,017
  1,142
  1,273
  1,411
  1,556
  1,707
  1,864
  2,028
  2,199
  2,377
  2,561
  2,753
  2,953
  3,160
  3,376
Change in working capital, $m
  2
  2
  3
  3
  4
  5
  5
  6
  7
  8
  9
  9
  10
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
  18
  19
  20
  20
  21
  22
  23
Cash from operations, $m
  18
  37
  61
  90
  126
  168
  218
  275
  340
  413
  491
  579
  675
  777
  887
  1,004
  1,128
  1,259
  1,396
  1,540
  1,690
  1,847
  2,011
  2,181
  2,358
  2,542
  2,733
  2,931
  3,138
  3,353
Maintenance CAPEX, $m
  -3
  -4
  -6
  -8
  -11
  -14
  -18
  -22
  -27
  -33
  -39
  -46
  -54
  -62
  -72
  -81
  -91
  -102
  -114
  -126
  -138
  -152
  -165
  -180
  -195
  -210
  -226
  -243
  -260
  -279
New CAPEX, $m
  -19
  -25
  -31
  -38
  -46
  -55
  -64
  -74
  -83
  -93
  -103
  -113
  -122
  -132
  -141
  -150
  -159
  -167
  -176
  -184
  -193
  -201
  -209
  -218
  -226
  -235
  -245
  -254
  -264
  -275
Cash from investing activities, $m
  -22
  -29
  -37
  -46
  -57
  -69
  -82
  -96
  -110
  -126
  -142
  -159
  -176
  -194
  -213
  -231
  -250
  -269
  -290
  -310
  -331
  -353
  -374
  -398
  -421
  -445
  -471
  -497
  -524
  -554
Free cash flow, $m
  -4
  8
  24
  44
  69
  99
  136
  179
  229
  286
  349
  420
  498
  583
  675
  773
  878
  989
  1,107
  1,230
  1,359
  1,495
  1,636
  1,783
  1,937
  2,096
  2,262
  2,434
  2,613
  2,799
Issuance/(repayment) of debt, $m
  24
  31
  40
  49
  59
  70
  82
  94
  107
  119
  132
  144
  156
  168
  180
  192
  203
  214
  224
  235
  246
  256
  267
  278
  289
  300
  312
  324
  337
  351
Issuance/(repurchase) of shares, $m
  32
  27
  19
  8
  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  
  56
  58
  59
  57
  59
  70
  82
  94
  107
  119
  132
  144
  156
  168
  180
  192
  203
  214
  224
  235
  246
  256
  267
  278
  289
  300
  312
  324
  337
  351
Total cash flow (excl. dividends), $m
  53
  67
  83
  101
  128
  170
  218
  273
  336
  405
  480
  564
  654
  751
  855
  965
  1,081
  1,203
  1,331
  1,465
  1,605
  1,751
  1,903
  2,061
  2,226
  2,397
  2,574
  2,759
  2,951
  3,150
Retained Cash Flow (-), $m
  -42
  -54
  -69
  -85
  -103
  -122
  -142
  -163
  -185
  -206
  -228
  -250
  -271
  -292
  -312
  -332
  -351
  -370
  -389
  -407
  -426
  -444
  -463
  -481
  -501
  -520
  -541
  -562
  -584
  -607
Prev. year cash balance distribution, $m
  21
  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
  32
  12
  14
  16
  25
  48
  76
  110
  151
  199
  252
  314
  383
  460
  543
  633
  730
  833
  942
  1,058
  1,180
  1,307
  1,441
  1,580
  1,725
  1,876
  2,033
  2,197
  2,366
  2,543
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  30
  11
  12
  13
  20
  35
  51
  69
  87
  104
  120
  134
  146
  154
  159
  161
  159
  153
  145
  134
  122
  108
  94
  80
  67
  55
  44
  34
  26
  19
Current shareholders' claim on cash, %
  92.9
  89.0
  87.0
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3
  86.3

Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications. As of December 31, 2016, the Company provided products in four product classes, such as Fuel cell stacks, Fuel cell modules, Fuel cell systems and Power management systems. The Company provides FCgen and FCveloCity fuel cell stacks to original equipment manufacturer (OEM) customers and system integrators that use the stacks to produce fuel cell systems for power solutions.

FINANCIAL RATIOS  of  Ballard Power Systems (BLDP)

Valuation Ratios
P/E Ratio -24
Price to Sales 5.9
Price to Book 4
Price to Tangible Book
Price to Cash Flow -125.8
Price to Free Cash Flow -45.8
Growth Rates
Sales Growth Rate 51.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 75%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 73
Current Ratio 0
LT Debt to Equity 5.6%
Total Debt to Equity 6.4%
Interest Coverage 0
Management Effectiveness
Return On Assets -12.2%
Ret/ On Assets - 3 Yr. Avg. -13%
Return On Total Capital -16.5%
Ret/ On T. Cap. - 3 Yr. Avg. -17.8%
Return On Equity -17.6%
Return On Equity - 3 Yr. Avg. -20%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 28.2%
Gross Margin - 3 Yr. Avg. 20.2%
EBITDA Margin -18.8%
EBITDA Margin - 3 Yr. Avg. -18.6%
Operating Margin -22.4%
Oper. Margin - 3 Yr. Avg. -35.9%
Pre-Tax Margin -24.7%
Pre-Tax Margin - 3 Yr. Avg. -25.8%
Net Profit Margin -24.7%
Net Profit Margin - 3 Yr. Avg. -25.3%
Effective Tax Rate -4.8%
Eff/ Tax Rate - 3 Yr. Avg. -8.3%
Payout Ratio 0%

BLDP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BLDP stock intrinsic value calculation we used $121.288 million for the last fiscal year's total revenue generated by Ballard Power Systems. The default revenue input number comes from 0001 income statement of Ballard Power Systems. 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 BLDP stock valuation model: a) initial revenue growth rate of 42.2% 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 4.3%, whose default value for BLDP is calculated based on our internal credit rating of Ballard Power Systems, 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 Ballard Power Systems.
    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 BLDP stock the variable cost ratio is equal to 63.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $50 million in the base year in the intrinsic value calculation for BLDP 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 10.2% for Ballard Power Systems.

Corporate tax rate of 27% is the nominal tax rate for Ballard Power Systems. 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 BLDP 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 BLDP are equal to 37%.

Life of production assets of 14.6 years is the average useful life of capital assets used in Ballard Power Systems 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 BLDP is equal to 3.1%. 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 - $119.855 million for Ballard Power Systems - 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 178.67 million for Ballard Power Systems 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 Ballard Power Systems at the current share price and the inputted number of shares is $0.5 billion.

RELATED COMPANIES Price Int.Val. Rating
PLUG Plug Power 1.84 0.07  str.sell
FCEL FuelCell Energ 0.880 0.26  str.sell
HYGS Hydrogenics 5.70 0.30  str.sell

COMPANY NEWS

▶ Ballard: 3Q Earnings Snapshot   [05:04AM  Associated Press]
▶ Ballard Reports Q3 2018 Results   [Oct-31-18 08:00PM  PR Newswire]
▶ Here's Why Ballard Power Systems Soared 16% in August   [Sep-08-18 07:10PM  Motley Fool]
▶ Ballard: 2Q Earnings Snapshot   [05:04AM  Associated Press]
▶ Ballard Reports Q2 2018 Results   [Aug-01-18 09:30PM  PR Newswire]
▶ Ballard Reports Q2 2018 Results   [09:30PM  CNW Group]
▶ Ballard Announces Q2 2018 Results Conference Call   [Jul-12-18 12:30AM  PR Newswire]
▶ Benzinga Pro's 5 Stocks To Watch Today   [Jun-12-18 09:23AM  Benzinga]
▶ June Growth Opportunities Emblem And More   [Jun-04-18 12:02PM  Simply Wall St.]
▶ Ballard: 1Q Earnings Snapshot   [May-01-18 07:48PM  Associated Press]
▶ Ballard Reports Q1 2018 Results   [07:30PM  CNW Group]
▶ Top 3 Growth Stocks For The Month   [Apr-23-18 12:02PM  Simply Wall St.]
▶ Ballard Announces Q1 2018 Results Conference Call   [Apr-17-18 02:30PM  CNW Group]
▶ Don't Get Greedy With Plug Power, Inc. Stock   [Apr-04-18 07:19AM  Motley Fool]
▶ [$$] Is it time to say goodbye to the steering wheel?   [Mar-30-18 06:16AM  Financial Times]
▶ New Strong Sell Stocks for March 21st   [Mar-21-18 09:13AM  Zacks]
▶ Top Growth Stocks To Buy   [12:02PM  Simply Wall St.]

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