Intrinsic value of Circor International - CIR

Previous Close

$33.97

  Intrinsic Value

$175.32

stock screener

  Rating & Target

str. buy

+416%

Previous close

$33.97

 
Intrinsic value

$175.32

 
Up/down potential

+416%

 
Rating

str. buy

We calculate the intrinsic value of CIR 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 0.7

 

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, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,059
  1,636
  2,446
  3,549
  5,008
  6,884
  9,241
  12,134
  15,613
  19,721
  24,489
  29,940
  36,088
  42,937
  50,487
  58,728
  67,650
  77,238
  87,476
  98,349
  109,842
  121,945
  134,647
  147,943
  161,831
  176,312
  191,393
  207,084
  223,399
  240,356
Variable operating expenses, $m
  850
  1,258
  1,831
  2,611
  3,642
  4,969
  6,635
  8,680
  11,140
  14,044
  17,313
  21,167
  25,514
  30,356
  35,693
  41,520
  47,828
  54,606
  61,844
  69,531
  77,657
  86,213
  95,194
  104,594
  114,412
  124,650
  135,312
  146,405
  157,940
  169,928
Fixed operating expenses, $m
  75
  76
  78
  80
  81
  83
  85
  87
  89
  91
  93
  95
  97
  99
  101
  103
  106
  108
  110
  113
  115
  118
  120
  123
  126
  129
  131
  134
  137
  140
Total operating expenses, $m
  925
  1,334
  1,909
  2,691
  3,723
  5,052
  6,720
  8,767
  11,229
  14,135
  17,406
  21,262
  25,611
  30,455
  35,794
  41,623
  47,934
  54,714
  61,954
  69,644
  77,772
  86,331
  95,314
  104,717
  114,538
  124,779
  135,443
  146,539
  158,077
  170,068
Operating income, $m
  134
  301
  537
  858
  1,284
  1,832
  2,521
  3,367
  4,384
  5,586
  7,083
  8,678
  10,477
  12,482
  14,692
  17,105
  19,717
  22,524
  25,521
  28,705
  32,070
  35,614
  39,333
  43,226
  47,293
  51,533
  55,949
  60,544
  65,322
  70,287
EBITDA, $m
  264
  447
  705
  1,056
  1,521
  2,120
  2,872
  3,796
  4,908
  6,221
  7,745
  9,487
  11,453
  13,643
  16,057
  18,692
  21,545
  24,611
  27,885
  31,363
  35,039
  38,909
  42,972
  47,224
  51,666
  56,298
  61,122
  66,141
  71,359
  76,783
Interest expense (income), $m
  3
  43
  85
  146
  232
  350
  505
  705
  956
  1,264
  1,634
  2,071
  2,579
  3,159
  3,813
  4,542
  5,346
  6,223
  7,173
  8,194
  9,283
  10,441
  11,664
  12,952
  14,304
  15,720
  17,198
  18,739
  20,345
  22,015
  23,751
Earnings before tax, $m
  91
  216
  391
  626
  934
  1,327
  1,816
  2,411
  3,121
  3,952
  5,012
  6,099
  7,318
  8,669
  10,150
  11,759
  13,493
  15,351
  17,328
  19,421
  21,629
  23,950
  26,381
  28,922
  31,573
  34,335
  37,210
  40,200
  43,307
  46,536
Tax expense, $m
  25
  58
  106
  169
  252
  358
  490
  651
  843
  1,067
  1,353
  1,647
  1,976
  2,341
  2,740
  3,175
  3,643
  4,145
  4,678
  5,244
  5,840
  6,466
  7,123
  7,809
  8,525
  9,271
  10,047
  10,854
  11,693
  12,565
Net income, $m
  67
  158
  285
  457
  682
  969
  1,326
  1,760
  2,278
  2,885
  3,658
  4,453
  5,342
  6,328
  7,409
  8,584
  9,850
  11,206
  12,649
  14,178
  15,789
  17,483
  19,258
  21,113
  23,048
  25,065
  27,163
  29,346
  31,614
  33,971

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
  3,051
  4,714
  7,050
  10,229
  14,431
  19,840
  26,631
  34,968
  44,995
  56,833
  70,573
  86,283
  104,000
  123,739
  145,495
  169,246
  194,957
  222,587
  252,092
  283,426
  316,549
  351,426
  388,032
  426,348
  466,370
  508,103
  551,564
  596,783
  643,800
  692,668
Adjusted assets (=assets-cash), $m
  3,051
  4,714
  7,050
  10,229
  14,431
  19,840
  26,631
  34,968
  44,995
  56,833
  70,573
  86,283
  104,000
  123,739
  145,495
  169,246
  194,957
  222,587
  252,092
  283,426
  316,549
  351,426
  388,032
  426,348
  466,370
  508,103
  551,564
  596,783
  643,800
  692,668
Revenue / Adjusted assets
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
  0.347
Average production assets, $m
  798
  1,233
  1,844
  2,676
  3,776
  5,191
  6,968
  9,149
  11,772
  14,870
  18,465
  22,575
  27,210
  32,375
  38,067
  44,281
  51,008
  58,237
  65,957
  74,155
  82,821
  91,946
  101,524
  111,549
  122,020
  132,939
  144,310
  156,141
  168,443
  181,228
Working capital, $m
  326
  504
  753
  1,093
  1,542
  2,120
  2,846
  3,737
  4,809
  6,074
  7,543
  9,222
  11,115
  13,225
  15,550
  18,088
  20,836
  23,789
  26,943
  30,291
  33,831
  37,559
  41,471
  45,566
  49,844
  54,304
  58,949
  63,782
  68,807
  74,030
Total debt, $m
  1,569
  2,707
  4,305
  6,479
  9,354
  13,053
  17,698
  23,401
  30,259
  38,356
  47,755
  58,500
  70,618
  84,120
  99,001
  115,247
  132,833
  151,732
  171,913
  193,346
  216,002
  239,858
  264,896
  291,105
  318,480
  347,025
  376,753
  407,682
  439,842
  473,267
Total liabilities, $m
  2,087
  3,224
  4,822
  6,997
  9,871
  13,570
  18,216
  23,918
  30,777
  38,874
  48,272
  59,017
  71,136
  84,638
  99,519
  115,764
  133,351
  152,250
  172,431
  193,863
  216,519
  240,376
  265,414
  291,622
  318,997
  347,543
  377,270
  408,199
  440,359
  473,785
Total equity, $m
  964
  1,490
  2,228
  3,232
  4,560
  6,269
  8,415
  11,050
  14,219
  17,959
  22,301
  27,265
  32,864
  39,102
  45,976
  53,482
  61,606
  70,338
  79,661
  89,563
  100,029
  111,051
  122,618
  134,726
  147,373
  160,561
  174,294
  188,583
  203,441
  218,883
Total liabilities and equity, $m
  3,051
  4,714
  7,050
  10,229
  14,431
  19,839
  26,631
  34,968
  44,996
  56,833
  70,573
  86,282
  104,000
  123,740
  145,495
  169,246
  194,957
  222,588
  252,092
  283,426
  316,548
  351,427
  388,032
  426,348
  466,370
  508,104
  551,564
  596,782
  643,800
  692,668
Debt-to-equity ratio
  1.630
  1.820
  1.930
  2.000
  2.050
  2.080
  2.100
  2.120
  2.130
  2.140
  2.140
  2.150
  2.150
  2.150
  2.150
  2.150
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
  2.160
Adjusted equity ratio
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316
  0.316

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  67
  158
  285
  457
  682
  969
  1,326
  1,760
  2,278
  2,885
  3,658
  4,453
  5,342
  6,328
  7,409
  8,584
  9,850
  11,206
  12,649
  14,178
  15,789
  17,483
  19,258
  21,113
  23,048
  25,065
  27,163
  29,346
  31,614
  33,971
Depreciation, amort., depletion, $m
  131
  146
  168
  198
  237
  288
  352
  430
  524
  635
  662
  809
  975
  1,160
  1,364
  1,587
  1,828
  2,087
  2,364
  2,658
  2,969
  3,296
  3,639
  3,998
  4,373
  4,765
  5,172
  5,596
  6,037
  6,496
Funds from operations, $m
  197
  304
  453
  655
  919
  1,257
  1,677
  2,190
  2,802
  3,520
  4,320
  5,262
  6,318
  7,489
  8,774
  10,171
  11,678
  13,293
  15,013
  16,836
  18,758
  20,779
  22,897
  25,111
  27,422
  29,830
  32,336
  34,942
  37,651
  40,467
Change in working capital, $m
  122
  178
  250
  340
  449
  578
  726
  891
  1,072
  1,265
  1,469
  1,679
  1,894
  2,110
  2,325
  2,538
  2,748
  2,953
  3,153
  3,349
  3,540
  3,728
  3,912
  4,095
  4,277
  4,460
  4,645
  4,833
  5,025
  5,223
Cash from operations, $m
  75
  126
  204
  315
  470
  679
  951
  1,299
  1,730
  2,255
  2,852
  3,583
  4,424
  5,379
  6,448
  7,633
  8,931
  10,340
  11,860
  13,487
  15,218
  17,051
  18,985
  21,016
  23,145
  25,369
  27,691
  30,109
  32,626
  35,244
Maintenance CAPEX, $m
  -18
  -29
  -44
  -66
  -96
  -135
  -186
  -250
  -328
  -422
  -533
  -662
  -809
  -975
  -1,160
  -1,364
  -1,587
  -1,828
  -2,087
  -2,364
  -2,658
  -2,969
  -3,296
  -3,639
  -3,998
  -4,373
  -4,765
  -5,172
  -5,596
  -6,037
New CAPEX, $m
  -299
  -435
  -611
  -832
  -1,100
  -1,415
  -1,777
  -2,181
  -2,624
  -3,097
  -3,595
  -4,110
  -4,635
  -5,165
  -5,692
  -6,214
  -6,727
  -7,229
  -7,719
  -8,198
  -8,666
  -9,125
  -9,577
  -10,025
  -10,471
  -10,919
  -11,371
  -11,831
  -12,301
  -12,786
Cash from investing activities, $m
  -317
  -464
  -655
  -898
  -1,196
  -1,550
  -1,963
  -2,431
  -2,952
  -3,519
  -4,128
  -4,772
  -5,444
  -6,140
  -6,852
  -7,578
  -8,314
  -9,057
  -9,806
  -10,562
  -11,324
  -12,094
  -12,873
  -13,664
  -14,469
  -15,292
  -16,136
  -17,003
  -17,897
  -18,823
Free cash flow, $m
  -242
  -337
  -452
  -583
  -725
  -872
  -1,011
  -1,132
  -1,221
  -1,264
  -1,276
  -1,189
  -1,020
  -761
  -404
  54
  616
  1,283
  2,053
  2,924
  3,894
  4,957
  6,112
  7,352
  8,675
  10,077
  11,555
  13,106
  14,728
  16,421
Issuance/(repayment) of debt, $m
  782
  1,137
  1,598
  2,174
  2,875
  3,699
  4,645
  5,703
  6,859
  8,097
  9,399
  10,745
  12,118
  13,502
  14,881
  16,245
  17,586
  18,899
  20,181
  21,433
  22,656
  23,856
  25,038
  26,209
  27,375
  28,545
  29,727
  30,929
  32,160
  33,426
Issuance/(repurchase) of shares, $m
  296
  368
  453
  548
  646
  740
  820
  875
  891
  856
  684
  512
  256
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,078
  1,505
  2,051
  2,722
  3,521
  4,439
  5,465
  6,578
  7,750
  8,953
  10,083
  11,257
  12,374
  13,502
  14,881
  16,245
  17,586
  18,899
  20,181
  21,433
  22,656
  23,856
  25,038
  26,209
  27,375
  28,545
  29,727
  30,929
  32,160
  33,426
Total cash flow (excl. dividends), $m
  835
  1,168
  1,599
  2,139
  2,795
  3,568
  4,454
  5,445
  6,528
  7,688
  8,806
  10,068
  11,354
  12,741
  14,477
  16,300
  18,203
  20,182
  22,234
  24,357
  26,550
  28,814
  31,150
  33,561
  36,050
  38,622
  41,282
  44,036
  46,888
  49,847
Retained Cash Flow (-), $m
  -362
  -525
  -738
  -1,005
  -1,328
  -1,709
  -2,146
  -2,635
  -3,169
  -3,741
  -4,342
  -4,964
  -5,599
  -6,238
  -6,875
  -7,505
  -8,125
  -8,731
  -9,323
  -9,902
  -10,467
  -11,021
  -11,567
  -12,108
  -12,647
  -13,188
  -13,734
  -14,289
  -14,857
  -15,442
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
  473
  642
  861
  1,135
  1,467
  1,859
  2,308
  2,810
  3,359
  3,947
  4,464
  5,103
  5,756
  6,503
  7,602
  8,794
  10,078
  11,451
  12,911
  14,455
  16,083
  17,792
  19,582
  21,453
  23,403
  25,435
  27,549
  29,746
  32,031
  34,404
Discount rate, %
  9.20
  9.66
  10.14
  10.65
  11.18
  11.74
  12.33
  12.95
  13.59
  14.27
  14.99
  15.74
  16.52
  17.35
  18.22
  19.13
  20.08
  21.09
  22.14
  23.25
  24.41
  25.63
  26.91
  28.26
  29.67
  31.15
  32.71
  34.35
  36.07
  37.87
PV of cash for distribution, $m
  433
  534
  644
  757
  864
  955
  1,023
  1,061
  1,067
  1,040
  961
  884
  788
  693
  618
  535
  449
  366
  289
  221
  164
  118
  82
  55
  35
  22
  13
  8
  4
  2
Current shareholders' claim on cash, %
  69.5
  51.9
  40.8
  33.4
  28.4
  24.8
  22.2
  20.3
  18.9
  18.0
  17.4
  17.0
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9
  16.9

CIRCOR International, Inc. (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)). Energy provides engineered integrated flow control solutions, valves and services primarily in the oil and gas end market. AFS is a flow control technology platform. Energy provides its flow control solutions and services through the brands, including Circle Seal Controls, DeltaValve, Contromatics, Dopak Sampling and others. AFS manufactures and markets control valves, automatic recirculation valves, regulators, fluid controls, actuation systems, landing gear components, pneumatic controls, electro-mechanical controls, and other flow control products and systems. As of December 31, 2016, it operated 19 manufacturing facilities.

FINANCIAL RATIOS  of  Circor International (CIR)

Valuation Ratios
P/E Ratio 55.9
Price to Sales 0.9
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 9.5
Price to Free Cash Flow 12.7
Growth Rates
Sales Growth Rate -10.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15.4%
Cap. Spend. - 3 Yr. Gr. Rate -2.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 62.1%
Total Debt to Equity 62.1%
Interest Coverage 4
Management Effectiveness
Return On Assets 1.7%
Ret/ On Assets - 3 Yr. Avg. 3.5%
Return On Total Capital 1.7%
Ret/ On T. Cap. - 3 Yr. Avg. 4.5%
Return On Equity 2.5%
Return On Equity - 3 Yr. Avg. 5%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 31%
Gross Margin - 3 Yr. Avg. 30.6%
EBITDA Margin 6.4%
EBITDA Margin - 3 Yr. Avg. 7.9%
Operating Margin 1.9%
Oper. Margin - 3 Yr. Avg. 4.5%
Pre-Tax Margin 1.7%
Pre-Tax Margin - 3 Yr. Avg. 4.2%
Net Profit Margin 1.7%
Net Profit Margin - 3 Yr. Avg. 3.1%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 25.1%
Payout Ratio 30%

CIR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CIR stock intrinsic value calculation we used $661.71 million for the last fiscal year's total revenue generated by Circor International. The default revenue input number comes from 0001 income statement of Circor International. 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 CIR stock valuation model: a) initial revenue growth rate of 60% 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 9.2%, whose default value for CIR is calculated based on our internal credit rating of Circor International, 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 Circor International.
    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 CIR stock the variable cost ratio is equal to 86.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $73 million in the base year in the intrinsic value calculation for CIR 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 Circor International.

Corporate tax rate of 27% is the nominal tax rate for Circor International. 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 CIR 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 CIR are equal to 75.4%.

Life of production assets of 27.9 years is the average useful life of capital assets used in Circor International 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 CIR is equal to 30.8%. 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 - $601.974 million for Circor International - 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 19.837 million for Circor International 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 Circor International at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Circor (CIR) Q3 Earnings Miss Estimates   [Nov-05-18 08:15PM  Zacks]
▶ Circor: 3Q Earnings Snapshot   [07:11PM  Associated Press]
▶ CIRCOR Announces CFO Transition   [Aug-20-18 08:30AM  Business Wire]
▶ CIRCOR Reports Second-Quarter 2018 Financial Results   [Jul-26-18 05:12PM  Business Wire]
▶ CIRCOR International Announces Pricing of Public Offering   [Jun-12-18 09:11PM  Business Wire]
▶ CIRCOR Names Lane Walker President of Energy Group   [Jun-04-18 08:30AM  Business Wire]
▶ Circor: 1Q Earnings Snapshot   [May-01-18 06:43PM  Associated Press]
▶ CIRCOR Aerospace Receives Airbus SQIP Best Performer Award   [Apr-12-18 09:00AM  GlobeNewswire]
▶ New Strong Sell Stocks for March 21st   [Mar-21-18 09:13AM  Zacks]
▶ Circor reports 4Q loss   [09:49AM  Associated Press]
▶ CIRCOR Declares Regular Quarterly Dividend   [Nov-16-17 04:15PM  Business Wire]
▶ CIRCOR Reports Third-Quarter 2017 Financial Results   [Oct-27-17 08:00AM  Business Wire]
▶ New Strong Sell Stocks for October 20th   [Oct-20-17 09:17AM  Zacks]
▶ CIRCOR Declares Regular Quarterly Dividend   [Aug-07-17 04:00PM  Business Wire]
▶ CIRCOR Reports Second-Quarter 2017 Financial Results   [Jul-28-17 08:00AM  Business Wire]
▶ CIRCOR Products Used on Americas Most-Advanced Warship   [Jul-12-17 04:45PM  GlobeNewswire]
▶ New Strong Sell Stocks for July 11th   [Jul-11-17 09:44AM  Zacks]
▶ New Strong Sell Stocks for June 30th   [Jun-30-17 09:26AM  Zacks]
▶ CIRCOR (CIR) in Focus: Stock Moves 5.4% Higher   [Jun-23-17 08:37AM  Zacks]
▶ CIRCOR International to Host 2017 Investor Day Today   [May-25-17 07:30AM  Business Wire]
▶ CIRCOR Declares Regular Quarterly Dividend   [May-15-17 08:30AM  Business Wire]
▶ CIRCOR International to Host 2017 Investor Day   [May-12-17 08:30AM  Business Wire]
▶ Circor misses Street 1Q forecasts   [Apr-28-17 08:12AM  Associated Press]

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