Intrinsic value of Celanese Series A - CE

Previous Close

$102.45

  Intrinsic Value

$100.62

stock screener

  Rating & Target

hold

-2%

Previous close

$102.45

 
Intrinsic value

$100.62

 
Up/down potential

-2%

 
Rating

hold

We calculate the intrinsic value of CE 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 13.8

 

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, %
  22.10
  20.39
  18.85
  17.47
  16.22
  15.10
  14.09
  13.18
  12.36
  11.62
  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
  6.10
  5.99
  5.89
  5.81
Revenue, $m
  7,497
  9,026
  10,727
  12,601
  14,644
  16,855
  19,230
  21,764
  24,454
  27,297
  30,289
  33,429
  36,715
  40,147
  43,725
  47,450
  51,326
  55,356
  59,545
  63,898
  68,421
  73,122
  78,010
  83,092
  88,380
  93,884
  99,616
  105,587
  111,811
  118,302
Variable operating expenses, $m
  6,224
  7,466
  8,849
  10,372
  12,033
  13,830
  15,760
  17,819
  20,006
  22,316
  24,618
  27,170
  29,841
  32,630
  35,538
  38,566
  41,716
  44,991
  48,396
  51,934
  55,610
  59,431
  63,403
  67,534
  71,832
  76,306
  80,964
  85,817
  90,876
  96,152
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
  6,224
  7,466
  8,849
  10,372
  12,033
  13,830
  15,760
  17,819
  20,006
  22,316
  24,618
  27,170
  29,841
  32,630
  35,538
  38,566
  41,716
  44,991
  48,396
  51,934
  55,610
  59,431
  63,403
  67,534
  71,832
  76,306
  80,964
  85,817
  90,876
  96,152
Operating income, $m
  1,273
  1,560
  1,878
  2,229
  2,612
  3,026
  3,470
  3,945
  4,448
  4,981
  5,671
  6,259
  6,874
  7,517
  8,187
  8,884
  9,610
  10,365
  11,149
  11,964
  12,811
  13,691
  14,606
  15,558
  16,548
  17,579
  18,652
  19,770
  20,935
  22,151
EBITDA, $m
  1,738
  2,092
  2,487
  2,921
  3,395
  3,907
  4,458
  5,045
  5,669
  6,328
  7,022
  7,749
  8,511
  9,307
  10,136
  11,000
  11,898
  12,833
  13,804
  14,813
  15,861
  16,951
  18,084
  19,262
  20,488
  21,764
  23,093
  24,477
  25,920
  27,425
Interest expense (income), $m
  130
  197
  276
  365
  464
  574
  693
  823
  961
  1,109
  1,267
  1,433
  1,608
  1,791
  1,983
  2,184
  2,393
  2,611
  2,837
  3,073
  3,318
  3,572
  3,836
  4,111
  4,397
  4,694
  5,003
  5,324
  5,659
  6,008
  6,372
Earnings before tax, $m
  1,077
  1,284
  1,513
  1,765
  2,038
  2,332
  2,648
  2,983
  3,339
  3,714
  4,238
  4,652
  5,083
  5,534
  6,003
  6,492
  7,000
  7,528
  8,076
  8,647
  9,239
  9,855
  10,495
  11,161
  11,854
  12,576
  13,327
  14,110
  14,927
  15,779
Tax expense, $m
  291
  347
  409
  476
  550
  630
  715
  805
  902
  1,003
  1,144
  1,256
  1,372
  1,494
  1,621
  1,753
  1,890
  2,032
  2,181
  2,335
  2,495
  2,661
  2,834
  3,014
  3,201
  3,395
  3,598
  3,810
  4,030
  4,260
Net income, $m
  786
  937
  1,105
  1,288
  1,488
  1,703
  1,933
  2,178
  2,437
  2,711
  3,094
  3,396
  3,711
  4,040
  4,382
  4,739
  5,110
  5,495
  5,896
  6,312
  6,745
  7,194
  7,662
  8,148
  8,654
  9,180
  9,729
  10,301
  10,897
  11,518

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
  11,641
  14,015
  16,657
  19,566
  22,740
  26,173
  29,860
  33,795
  37,972
  42,386
  47,033
  51,909
  57,011
  62,340
  67,895
  73,680
  79,699
  85,957
  92,461
  99,220
  106,244
  113,544
  121,133
  129,025
  137,236
  145,783
  154,683
  163,955
  173,620
  183,700
Adjusted assets (=assets-cash), $m
  11,641
  14,015
  16,657
  19,566
  22,740
  26,173
  29,860
  33,795
  37,972
  42,386
  47,033
  51,909
  57,011
  62,340
  67,895
  73,680
  79,699
  85,957
  92,461
  99,220
  106,244
  113,544
  121,133
  129,025
  137,236
  145,783
  154,683
  163,955
  173,620
  183,700
Revenue / Adjusted assets
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
  0.644
Average production assets, $m
  5,180
  6,237
  7,412
  8,707
  10,119
  11,647
  13,288
  15,039
  16,898
  18,862
  20,930
  23,100
  25,370
  27,741
  30,214
  32,788
  35,466
  38,251
  41,145
  44,153
  47,279
  50,527
  53,905
  57,417
  61,071
  64,874
  68,834
  72,961
  77,262
  81,747
Working capital, $m
  1,162
  1,399
  1,663
  1,953
  2,270
  2,613
  2,981
  3,373
  3,790
  4,231
  4,695
  5,182
  5,691
  6,223
  6,777
  7,355
  7,956
  8,580
  9,229
  9,904
  10,605
  11,334
  12,091
  12,879
  13,699
  14,552
  15,440
  16,366
  17,331
  18,337
Total debt, $m
  5,104
  6,758
  8,600
  10,628
  12,839
  15,232
  17,802
  20,545
  23,457
  26,533
  29,772
  33,170
  36,727
  40,441
  44,313
  48,345
  52,540
  56,902
  61,435
  66,146
  71,042
  76,130
  81,420
  86,921
  92,644
  98,601
  104,804
  111,267
  118,003
  125,029
Total liabilities, $m
  8,114
  9,768
  11,610
  13,638
  15,849
  18,242
  20,812
  23,555
  26,467
  29,543
  32,782
  36,180
  39,737
  43,451
  47,323
  51,355
  55,550
  59,912
  64,445
  69,156
  74,052
  79,140
  84,430
  89,931
  95,654
  101,611
  107,814
  114,277
  121,013
  128,039
Total equity, $m
  3,527
  4,247
  5,047
  5,929
  6,890
  7,930
  9,047
  10,240
  11,506
  12,843
  14,251
  15,728
  17,274
  18,889
  20,572
  22,325
  24,149
  26,045
  28,016
  30,064
  32,192
  34,404
  36,703
  39,095
  41,583
  44,172
  46,869
  49,678
  52,607
  55,661
Total liabilities and equity, $m
  11,641
  14,015
  16,657
  19,567
  22,739
  26,172
  29,859
  33,795
  37,973
  42,386
  47,033
  51,908
  57,011
  62,340
  67,895
  73,680
  79,699
  85,957
  92,461
  99,220
  106,244
  113,544
  121,133
  129,026
  137,237
  145,783
  154,683
  163,955
  173,620
  183,700
Debt-to-equity ratio
  1.450
  1.590
  1.700
  1.790
  1.860
  1.920
  1.970
  2.010
  2.040
  2.070
  2.090
  2.110
  2.130
  2.140
  2.150
  2.170
  2.180
  2.180
  2.190
  2.200
  2.210
  2.210
  2.220
  2.220
  2.230
  2.230
  2.240
  2.240
  2.240
  2.250
Adjusted equity ratio
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303
  0.303

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  786
  937
  1,105
  1,288
  1,488
  1,703
  1,933
  2,178
  2,437
  2,711
  3,094
  3,396
  3,711
  4,040
  4,382
  4,739
  5,110
  5,495
  5,896
  6,312
  6,745
  7,194
  7,662
  8,148
  8,654
  9,180
  9,729
  10,301
  10,897
  11,518
Depreciation, amort., depletion, $m
  465
  533
  609
  692
  783
  882
  988
  1,101
  1,221
  1,347
  1,350
  1,490
  1,637
  1,790
  1,949
  2,115
  2,288
  2,468
  2,655
  2,849
  3,050
  3,260
  3,478
  3,704
  3,940
  4,185
  4,441
  4,707
  4,985
  5,274
Funds from operations, $m
  1,251
  1,470
  1,713
  1,980
  2,271
  2,584
  2,920
  3,278
  3,658
  4,058
  4,444
  4,886
  5,348
  5,829
  6,332
  6,854
  7,398
  7,963
  8,550
  9,161
  9,795
  10,454
  11,139
  11,852
  12,594
  13,366
  14,170
  15,008
  15,881
  16,792
Change in working capital, $m
  210
  237
  264
  290
  317
  343
  368
  393
  417
  441
  464
  487
  509
  532
  555
  577
  601
  625
  649
  675
  701
  729
  758
  788
  820
  853
  888
  926
  965
  1,006
Cash from operations, $m
  1,040
  1,233
  1,449
  1,690
  1,954
  2,242
  2,552
  2,886
  3,241
  3,618
  3,981
  4,399
  4,838
  5,297
  5,777
  6,277
  6,797
  7,338
  7,901
  8,486
  9,094
  9,725
  10,382
  11,064
  11,774
  12,513
  13,282
  14,082
  14,917
  15,786
Maintenance CAPEX, $m
  -274
  -334
  -402
  -478
  -562
  -653
  -751
  -857
  -970
  -1,090
  -1,217
  -1,350
  -1,490
  -1,637
  -1,790
  -1,949
  -2,115
  -2,288
  -2,468
  -2,655
  -2,849
  -3,050
  -3,260
  -3,478
  -3,704
  -3,940
  -4,185
  -4,441
  -4,707
  -4,985
New CAPEX, $m
  -937
  -1,056
  -1,176
  -1,295
  -1,412
  -1,528
  -1,641
  -1,751
  -1,859
  -1,964
  -2,068
  -2,170
  -2,271
  -2,371
  -2,472
  -2,574
  -2,678
  -2,785
  -2,894
  -3,008
  -3,126
  -3,249
  -3,377
  -3,512
  -3,654
  -3,803
  -3,960
  -4,126
  -4,301
  -4,485
Cash from investing activities, $m
  -1,211
  -1,390
  -1,578
  -1,773
  -1,974
  -2,181
  -2,392
  -2,608
  -2,829
  -3,054
  -3,285
  -3,520
  -3,761
  -4,008
  -4,262
  -4,523
  -4,793
  -5,073
  -5,362
  -5,663
  -5,975
  -6,299
  -6,637
  -6,990
  -7,358
  -7,743
  -8,145
  -8,567
  -9,008
  -9,470
Free cash flow, $m
  -171
  -157
  -129
  -83
  -20
  61
  160
  277
  412
  563
  696
  879
  1,077
  1,289
  1,515
  1,753
  2,003
  2,265
  2,539
  2,824
  3,119
  3,426
  3,745
  4,074
  4,416
  4,769
  5,136
  5,515
  5,908
  6,316
Issuance/(repayment) of debt, $m
  1,463
  1,654
  1,841
  2,028
  2,212
  2,393
  2,570
  2,743
  2,912
  3,077
  3,239
  3,398
  3,556
  3,714
  3,872
  4,032
  4,195
  4,362
  4,533
  4,711
  4,896
  5,088
  5,290
  5,501
  5,723
  5,957
  6,203
  6,463
  6,737
  7,025
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  
  1,463
  1,654
  1,841
  2,028
  2,212
  2,393
  2,570
  2,743
  2,912
  3,077
  3,239
  3,398
  3,556
  3,714
  3,872
  4,032
  4,195
  4,362
  4,533
  4,711
  4,896
  5,088
  5,290
  5,501
  5,723
  5,957
  6,203
  6,463
  6,737
  7,025
Total cash flow (excl. dividends), $m
  1,292
  1,497
  1,713
  1,945
  2,192
  2,454
  2,730
  3,020
  3,323
  3,640
  3,935
  4,278
  4,634
  5,003
  5,387
  5,785
  6,198
  6,627
  7,072
  7,535
  8,015
  8,515
  9,034
  9,575
  10,139
  10,726
  11,339
  11,978
  12,645
  13,342
Retained Cash Flow (-), $m
  -640
  -719
  -801
  -882
  -962
  -1,040
  -1,117
  -1,192
  -1,266
  -1,338
  -1,408
  -1,477
  -1,546
  -1,615
  -1,683
  -1,753
  -1,824
  -1,896
  -1,971
  -2,048
  -2,128
  -2,212
  -2,300
  -2,391
  -2,488
  -2,590
  -2,697
  -2,809
  -2,929
  -3,054
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
  652
  778
  912
  1,063
  1,230
  1,414
  1,613
  1,828
  2,058
  2,303
  2,527
  2,800
  3,088
  3,389
  3,704
  4,032
  4,375
  4,731
  5,101
  5,487
  5,887
  6,303
  6,735
  7,184
  7,651
  8,137
  8,642
  9,168
  9,716
  10,287
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  610
  676
  732
  782
  823
  852
  868
  871
  859
  833
  783
  734
  676
  611
  543
  472
  403
  337
  275
  220
  172
  132
  98
  71
  50
  35
  23
  15
  9
  6
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

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company's segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company's engineered materials business and certain affiliates. The Consumer Specialties segment includes the Company's cellulose derivatives and food ingredients businesses, which serve consumer-driven applications. The Industrial Specialties segment includes the Company's emulsion polymers and ethylene vinyl acetate (EVA) polymers businesses. The Acetyl Intermediates segment includes the Company's intermediate chemistry business, which produces and supplies acetyl products, including acetic acid, vinyl acetate monomer (VAM), acetic anhydride and acetate esters. The Company has operations in North America, Europe and Asia. As of December 31, 2016, the Company had 30 global production facilities.

FINANCIAL RATIOS  of  Celanese Series A (CE)

Valuation Ratios
P/E Ratio 16
Price to Sales 2.7
Price to Book 5.6
Price to Tangible Book
Price to Cash Flow 16.1
Price to Free Cash Flow 22.3
Growth Rates
Sales Growth Rate -5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -52.7%
Cap. Spend. - 3 Yr. Gr. Rate -8.2%
Financial Strength
Quick Ratio 6
Current Ratio 0.1
LT Debt to Equity 111.7%
Total Debt to Equity 116.2%
Interest Coverage 9
Management Effectiveness
Return On Assets 12%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 16.4%
Ret/ On T. Cap. - 3 Yr. Avg. 11%
Return On Equity 36.2%
Return On Equity - 3 Yr. Avg. 23.5%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 26.1%
Gross Margin - 3 Yr. Avg. 24.4%
EBITDA Margin 27%
EBITDA Margin - 3 Yr. Avg. 21.5%
Operating Margin 16.6%
Oper. Margin - 3 Yr. Avg. 11.2%
Pre-Tax Margin 19.1%
Pre-Tax Margin - 3 Yr. Avg. 13.8%
Net Profit Margin 16.7%
Net Profit Margin - 3 Yr. Avg. 10.4%
Effective Tax Rate 11.8%
Eff/ Tax Rate - 3 Yr. Avg. 28.8%
Payout Ratio 22.3%

CE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CE stock intrinsic value calculation we used $6140 million for the last fiscal year's total revenue generated by Celanese Series A. The default revenue input number comes from 0001 income statement of Celanese Series A. 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 CE stock valuation model: a) initial revenue growth rate of 22.1% 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 6.9%, whose default value for CE is calculated based on our internal credit rating of Celanese Series A, 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 Celanese Series A.
    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 CE stock the variable cost ratio is equal to 83.4%.

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 CE 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 Celanese Series A.

Corporate tax rate of 27% is the nominal tax rate for Celanese Series A. 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 CE 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 CE are equal to 69.1%.

Life of production assets of 15.5 years is the average useful life of capital assets used in Celanese Series A 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 CE is equal to 15.5%. 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 - $2887 million for Celanese Series A - 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 134.962 million for Celanese Series A 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 Celanese Series A at the current share price and the inputted number of shares is $13.8 billion.

RELATED COMPANIES Price Int.Val. Rating
EMN Eastman Chemic 82.82 133.47  buy
LYB LyondellBasell 93.44 371.08  str.buy
OMN OMNOVA Solutio 8.52 6.19  sell
ECL Ecolab 158.31 87.51  sell

COMPANY NEWS

▶ 4 GARP Stocks for a Winning Portfolio   [Nov-12-18 08:30AM  Zacks]
▶ Celanese Announces Price Increases on Acetyls Products   [Nov-06-18 06:00PM  Business Wire]
▶ Celanese Completes Senior Unsecured Notes Offering   [Nov-05-18 04:15PM  Business Wire]
▶ Celanese Awards Century Grants Totaling Nearly $400,000   [Nov-01-18 05:03PM  Business Wire]
▶ 4 GARP Stocks to Scoop Up for Maximum Returns   [Oct-24-18 11:20AM  Zacks]
▶ [$$] Linde-Praxair Merger Approved by U.S. FTC   [10:29AM  The Wall Street Journal]
▶ Celanese Announces Price Increases on MIBK, MIBC in Europe   [Oct-19-18 06:00PM  Business Wire]
▶ 2 Stocks Move Friday   [04:44PM  GuruFocus.com]
▶ Celanese (CE) Q3 Earnings Top Estimates   [Oct-18-18 05:50PM  Zacks]
▶ Celanese: 3Q Earnings Snapshot   [04:46PM  Associated Press]
▶ Celanese expands global base with acquisition of Indian company   [Oct-11-18 11:52AM  American City Business Journals]
▶ Celanese Announces Acetyl Intermediates Price Increases   [Oct-05-18 06:00PM  Business Wire]
▶ Kim K.W. Rucker Elected to Celanese Board of Directors   [Oct-04-18 04:30PM  Business Wire]
▶ Celanese Announces Acetyl Intermediates Price Increases   [Sep-26-18 06:00PM  Business Wire]
▶ Celanese Announces Emulsions Price Increases in Europe   [Sep-13-18 06:00PM  Business Wire]

CONTACT US       ASSET ALLOCATION

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

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