Intrinsic value of BorgWarner - BWA

Previous Close

$35.14

  Intrinsic Value

$20.89

stock screener

  Rating & Target

sell

-41%

Previous close

$35.14

 
Intrinsic value

$20.89

 
Up/down potential

-41%

 
Rating

sell

We calculate the intrinsic value of BWA 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 7.3

 

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, %
  12.70
  11.93
  11.24
  10.61
  10.05
  9.55
  9.09
  8.68
  8.31
  7.98
  7.68
  7.42
  7.17
  6.96
  6.76
  6.59
  6.43
  6.28
  6.16
  6.04
  5.94
  5.84
  5.76
  5.68
  5.61
  5.55
  5.50
  5.45
  5.40
  5.36
Revenue, $m
  11,044
  12,361
  13,750
  15,210
  16,739
  18,337
  20,004
  21,741
  23,548
  25,428
  27,382
  29,413
  31,523
  33,717
  35,996
  38,367
  40,833
  43,399
  46,070
  48,853
  51,753
  54,776
  57,931
  61,223
  64,660
  68,250
  72,002
  75,925
  80,027
  84,318
Variable operating expenses, $m
  10,738
  11,990
  13,311
  14,698
  16,152
  17,671
  19,256
  20,908
  22,627
  24,414
  26,034
  27,965
  29,972
  32,057
  34,224
  36,478
  38,822
  41,262
  43,802
  46,448
  49,205
  52,080
  55,079
  58,208
  61,476
  64,890
  68,457
  72,187
  76,087
  80,167
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
  10,738
  11,990
  13,311
  14,698
  16,152
  17,671
  19,256
  20,908
  22,627
  24,414
  26,034
  27,965
  29,972
  32,057
  34,224
  36,478
  38,822
  41,262
  43,802
  46,448
  49,205
  52,080
  55,079
  58,208
  61,476
  64,890
  68,457
  72,187
  76,087
  80,167
Operating income, $m
  306
  371
  439
  511
  587
  665
  747
  833
  922
  1,014
  1,348
  1,448
  1,552
  1,660
  1,772
  1,889
  2,010
  2,137
  2,268
  2,405
  2,548
  2,697
  2,852
  3,014
  3,183
  3,360
  3,545
  3,738
  3,940
  4,151
EBITDA, $m
  900
  1,007
  1,120
  1,239
  1,364
  1,494
  1,630
  1,771
  1,918
  2,071
  2,231
  2,396
  2,568
  2,747
  2,932
  3,125
  3,326
  3,535
  3,753
  3,980
  4,216
  4,462
  4,719
  4,987
  5,267
  5,560
  5,865
  6,185
  6,519
  6,869
Interest expense (income), $m
  100
  118
  160
  204
  250
  299
  350
  404
  459
  517
  578
  641
  706
  774
  845
  918
  994
  1,074
  1,156
  1,242
  1,331
  1,424
  1,521
  1,622
  1,728
  1,838
  1,953
  2,073
  2,199
  2,330
  2,467
Earnings before tax, $m
  188
  211
  236
  261
  288
  315
  344
  373
  404
  436
  707
  742
  778
  815
  854
  895
  937
  981
  1,026
  1,074
  1,124
  1,175
  1,230
  1,286
  1,345
  1,407
  1,472
  1,539
  1,610
  1,684
Tax expense, $m
  51
  57
  64
  70
  78
  85
  93
  101
  109
  118
  191
  200
  210
  220
  231
  242
  253
  265
  277
  290
  303
  317
  332
  347
  363
  380
  397
  416
  435
  455
Net income, $m
  137
  154
  172
  191
  210
  230
  251
  273
  295
  319
  516
  542
  568
  595
  623
  653
  684
  716
  749
  784
  820
  858
  898
  939
  982
  1,027
  1,074
  1,124
  1,175
  1,229

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
  11,033
  12,349
  13,737
  15,195
  16,722
  18,318
  19,984
  21,719
  23,525
  25,403
  27,355
  29,384
  31,492
  33,683
  35,960
  38,329
  40,792
  43,355
  46,024
  48,804
  51,701
  54,722
  57,873
  61,161
  64,595
  68,182
  71,930
  75,849
  79,947
  84,234
Adjusted assets (=assets-cash), $m
  11,033
  12,349
  13,737
  15,195
  16,722
  18,318
  19,984
  21,719
  23,525
  25,403
  27,355
  29,384
  31,492
  33,683
  35,960
  38,329
  40,792
  43,355
  46,024
  48,804
  51,701
  54,722
  57,873
  61,161
  64,595
  68,182
  71,930
  75,849
  79,947
  84,234
Revenue / Adjusted assets
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
Average production assets, $m
  4,307
  4,821
  5,363
  5,932
  6,528
  7,151
  7,801
  8,479
  9,184
  9,917
  10,679
  11,471
  12,294
  13,149
  14,039
  14,963
  15,925
  16,925
  17,967
  19,053
  20,184
  21,363
  22,593
  23,877
  25,217
  26,618
  28,081
  29,611
  31,210
  32,884
Working capital, $m
  740
  828
  921
  1,019
  1,121
  1,229
  1,340
  1,457
  1,578
  1,704
  1,835
  1,971
  2,112
  2,259
  2,412
  2,571
  2,736
  2,908
  3,087
  3,273
  3,467
  3,670
  3,881
  4,102
  4,332
  4,573
  4,824
  5,087
  5,362
  5,649
Total debt, $m
  2,958
  3,774
  4,634
  5,538
  6,485
  7,475
  8,507
  9,583
  10,703
  11,867
  13,078
  14,335
  15,643
  17,001
  18,413
  19,881
  21,408
  22,998
  24,652
  26,376
  28,172
  30,045
  31,999
  34,038
  36,166
  38,390
  40,714
  43,144
  45,685
  48,343
Total liabilities, $m
  6,840
  7,656
  8,517
  9,421
  10,368
  11,357
  12,390
  13,466
  14,585
  15,750
  16,960
  18,218
  19,525
  20,883
  22,295
  23,764
  25,291
  26,880
  28,535
  30,259
  32,055
  33,927
  35,881
  37,920
  40,049
  42,273
  44,597
  47,026
  49,567
  52,225
Total equity, $m
  4,192
  4,693
  5,220
  5,774
  6,354
  6,961
  7,594
  8,253
  8,939
  9,653
  10,395
  11,166
  11,967
  12,800
  13,665
  14,565
  15,501
  16,475
  17,489
  18,546
  19,646
  20,794
  21,992
  23,241
  24,546
  25,909
  27,333
  28,823
  30,380
  32,009
Total liabilities and equity, $m
  11,032
  12,349
  13,737
  15,195
  16,722
  18,318
  19,984
  21,719
  23,524
  25,403
  27,355
  29,384
  31,492
  33,683
  35,960
  38,329
  40,792
  43,355
  46,024
  48,805
  51,701
  54,721
  57,873
  61,161
  64,595
  68,182
  71,930
  75,849
  79,947
  84,234
Debt-to-equity ratio
  0.710
  0.800
  0.890
  0.960
  1.020
  1.070
  1.120
  1.160
  1.200
  1.230
  1.260
  1.280
  1.310
  1.330
  1.350
  1.370
  1.380
  1.400
  1.410
  1.420
  1.430
  1.440
  1.460
  1.460
  1.470
  1.480
  1.490
  1.500
  1.500
  1.510
Adjusted equity ratio
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380
  0.380

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  137
  154
  172
  191
  210
  230
  251
  273
  295
  319
  516
  542
  568
  595
  623
  653
  684
  716
  749
  784
  820
  858
  898
  939
  982
  1,027
  1,074
  1,124
  1,175
  1,229
Depreciation, amort., depletion, $m
  593
  636
  681
  728
  777
  828
  882
  938
  996
  1,057
  883
  948
  1,016
  1,087
  1,160
  1,237
  1,316
  1,399
  1,485
  1,575
  1,668
  1,766
  1,867
  1,973
  2,084
  2,200
  2,321
  2,447
  2,579
  2,718
Funds from operations, $m
  731
  790
  853
  918
  987
  1,058
  1,133
  1,211
  1,292
  1,376
  1,399
  1,490
  1,584
  1,682
  1,784
  1,890
  2,000
  2,115
  2,234
  2,359
  2,488
  2,624
  2,765
  2,912
  3,066
  3,227
  3,395
  3,571
  3,755
  3,947
Change in working capital, $m
  83
  88
  93
  98
  102
  107
  112
  116
  121
  126
  131
  136
  141
  147
  153
  159
  165
  172
  179
  186
  194
  203
  211
  221
  230
  241
  251
  263
  275
  288
Cash from operations, $m
  647
  702
  760
  821
  884
  951
  1,021
  1,094
  1,171
  1,250
  1,268
  1,354
  1,442
  1,535
  1,631
  1,731
  1,835
  1,943
  2,055
  2,172
  2,294
  2,421
  2,553
  2,692
  2,836
  2,986
  3,144
  3,308
  3,480
  3,660
Maintenance CAPEX, $m
  -316
  -356
  -398
  -443
  -490
  -540
  -591
  -645
  -701
  -759
  -820
  -883
  -948
  -1,016
  -1,087
  -1,160
  -1,237
  -1,316
  -1,399
  -1,485
  -1,575
  -1,668
  -1,766
  -1,867
  -1,973
  -2,084
  -2,200
  -2,321
  -2,447
  -2,579
New CAPEX, $m
  -489
  -514
  -542
  -569
  -596
  -623
  -650
  -677
  -705
  -733
  -762
  -792
  -823
  -855
  -889
  -924
  -962
  -1,001
  -1,042
  -1,085
  -1,131
  -1,179
  -1,230
  -1,284
  -1,340
  -1,400
  -1,463
  -1,530
  -1,600
  -1,674
Cash from investing activities, $m
  -805
  -870
  -940
  -1,012
  -1,086
  -1,163
  -1,241
  -1,322
  -1,406
  -1,492
  -1,582
  -1,675
  -1,771
  -1,871
  -1,976
  -2,084
  -2,199
  -2,317
  -2,441
  -2,570
  -2,706
  -2,847
  -2,996
  -3,151
  -3,313
  -3,484
  -3,663
  -3,851
  -4,047
  -4,253
Free cash flow, $m
  -157
  -168
  -181
  -192
  -202
  -211
  -220
  -228
  -235
  -242
  -314
  -321
  -329
  -336
  -345
  -354
  -364
  -374
  -386
  -398
  -412
  -426
  -442
  -459
  -478
  -498
  -519
  -542
  -567
  -594
Issuance/(repayment) of debt, $m
  770
  816
  860
  904
  947
  990
  1,033
  1,076
  1,120
  1,164
  1,210
  1,258
  1,307
  1,358
  1,412
  1,468
  1,527
  1,589
  1,655
  1,724
  1,796
  1,873
  1,954
  2,039
  2,129
  2,224
  2,324
  2,430
  2,541
  2,658
Issuance/(repurchase) of shares, $m
  338
  346
  355
  363
  370
  377
  382
  387
  391
  395
  226
  229
  233
  237
  242
  247
  252
  258
  265
  272
  281
  290
  300
  311
  323
  336
  350
  365
  382
  400
Cash from financing (excl. dividends), $m  
  1,108
  1,162
  1,215
  1,267
  1,317
  1,367
  1,415
  1,463
  1,511
  1,559
  1,436
  1,487
  1,540
  1,595
  1,654
  1,715
  1,779
  1,847
  1,920
  1,996
  2,077
  2,163
  2,254
  2,350
  2,452
  2,560
  2,674
  2,795
  2,923
  3,058
Total cash flow (excl. dividends), $m
  950
  994
  1,035
  1,075
  1,115
  1,155
  1,195
  1,235
  1,275
  1,317
  1,122
  1,166
  1,212
  1,259
  1,309
  1,361
  1,416
  1,473
  1,534
  1,598
  1,665
  1,736
  1,811
  1,890
  1,974
  2,062
  2,155
  2,252
  2,356
  2,464
Retained Cash Flow (-), $m
  -476
  -500
  -527
  -554
  -580
  -607
  -633
  -659
  -686
  -714
  -742
  -771
  -801
  -833
  -865
  -900
  -936
  -974
  -1,014
  -1,056
  -1,101
  -1,148
  -1,197
  -1,250
  -1,305
  -1,363
  -1,424
  -1,489
  -1,557
  -1,629
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
  475
  494
  508
  521
  535
  548
  562
  575
  589
  603
  380
  395
  411
  427
  444
  461
  480
  499
  520
  542
  564
  588
  614
  641
  669
  699
  730
  763
  798
  835
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
  455
  452
  442
  429
  415
  398
  380
  360
  338
  316
  181
  169
  156
  143
  130
  117
  104
  92
  80
  69
  58
  49
  40
  33
  26
  20
  16
  12
  9
  6
Current shareholders' claim on cash, %
  95.6
  91.8
  88.4
  85.4
  82.7
  80.3
  78.1
  76.1
  74.3
  72.7
  71.9
  71.1
  70.3
  69.6
  69.0
  68.3
  67.8
  67.2
  66.6
  66.1
  65.6
  65.1
  64.7
  64.2
  63.8
  63.3
  62.9
  62.5
  62.0
  61.6

BorgWarner Inc. is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company's segments include Engine and Drivetrain. The Engine segment's products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains. The Drivetrain segment's products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices. The Company's products are manufactured and sold across the world, primarily to original equipment manufacturers (OEMs) of light vehicles (passenger cars, sport-utility vehicles (SUVs), vans and light trucks). The Company's products are also sold to other OEMs of commercial vehicles (medium-duty trucks, heavy-duty trucks and buses) and off-highway vehicles (agricultural and construction machinery and marine applications.

FINANCIAL RATIOS  of  BorgWarner (BWA)

Valuation Ratios
P/E Ratio 62.7
Price to Sales 0.8
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 7.2
Price to Free Cash Flow 13.9
Growth Rates
Sales Growth Rate 13.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -13.2%
Cap. Spend. - 3 Yr. Gr. Rate 3.7%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 63.5%
Total Debt to Equity 69%
Interest Coverage 3
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 2.1%
Ret/ On T. Cap. - 3 Yr. Avg. 8.9%
Return On Equity 3.5%
Return On Equity - 3 Yr. Avg. 12.9%
Asset Turnover 1
Profitability Ratios
Gross Margin 21.3%
Gross Margin - 3 Yr. Avg. 21.2%
EBITDA Margin 7.5%
EBITDA Margin - 3 Yr. Avg. 13.4%
Operating Margin 2.5%
Oper. Margin - 3 Yr. Avg. 8.6%
Pre-Tax Margin 2.1%
Pre-Tax Margin - 3 Yr. Avg. 8.5%
Net Profit Margin 1.3%
Net Profit Margin - 3 Yr. Avg. 5.6%
Effective Tax Rate 16.2%
Eff/ Tax Rate - 3 Yr. Avg. 25.4%
Payout Ratio 95%

BWA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BWA stock intrinsic value calculation we used $9799.3 million for the last fiscal year's total revenue generated by BorgWarner. The default revenue input number comes from 0001 income statement of BorgWarner. 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 BWA stock valuation model: a) initial revenue growth rate of 12.7% 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 BWA is calculated based on our internal credit rating of BorgWarner, 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 BorgWarner.
    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 BWA stock the variable cost ratio is equal to 97.5%.

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 BWA 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 BorgWarner.

Corporate tax rate of 27% is the nominal tax rate for BorgWarner. 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 BWA 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 BWA are equal to 39%.

Life of production assets of 12.1 years is the average useful life of capital assets used in BorgWarner 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 BWA is equal to 6.7%. 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 - $3716.8 million for BorgWarner - 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 208.867 million for BorgWarner 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 BorgWarner at the current share price and the inputted number of shares is $7.3 billion.

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COMPANY NEWS

▶ 5 Auto Companies Gurus Agree On   [Dec-11-18 04:34PM  GuruFocus.com]
▶ Auto-Parts Insiders Are Buying Up Stock   [Nov-14-18 07:00AM  Barrons.com]
▶ BorgWarner Declares Quarterly Dividend   [06:30AM  PR Newswire]
▶ BorgWarner Continues to Outperform   [Oct-28-18 11:04AM  Motley Fool]
▶ BorgWarner: 3Q Earnings Snapshot   [06:46AM  Associated Press]
▶ BorgWarner's Q3 Earnings Outlook   [Oct-24-18 03:12PM  Benzinga]
▶ 10 Growth Stocks to Buy With Monster Potential   [Oct-05-18 02:16PM  Kiplinger]
▶ How Does BorgWarner Inc (NYSE:BWA) Fare As A Dividend Stock?   [Sep-23-18 10:43AM  Simply Wall St.]
▶ Oppenheimers 7 Top Stock Picks for September   [Sep-17-18 03:40PM  Kiplinger]
▶ BorgWarner to Webcast Investor Day on September 18, 2018   [Sep-13-18 05:11PM  PR Newswire]
▶ A Holistic Look At BorgWarner Inc (NYSE:BWA)   [Aug-29-18 09:03AM  Simply Wall St.]
▶ BorgWarner to Host Investor Day on September 18, 2018   [Aug-27-18 04:10PM  PR Newswire]
▶ BorgWarner to Host Investor Day on September 18, 2018   [Jul-31-18 04:10PM  PR Newswire]
▶ BorgWarner Earnings: Outperforming Difficult End Markets   [Jul-30-18 09:19AM  Motley Fool]
▶ BorgWarner: 2Q Earnings Snapshot   [06:50AM  Associated Press]
▶ BorgWarner Declares Quarterly Dividend   [06:30AM  PR Newswire]
▶ Q2 Earnings Outlook For BorgWarner   [Jul-25-18 03:48PM  Benzinga]
▶ Estimating The Intrinsic Value Of BorgWarner Inc (NYSE:BWA)   [Jun-22-18 11:54AM  Simply Wall St.]

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