Intrinsic value of SEACOR Holdings - CKH

Previous Close

$47.62

  Intrinsic Value

$649.45

stock screener

  Rating & Target

str. buy

+999%

Previous close

$47.62

 
Intrinsic value

$649.45

 
Up/down potential

+999%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CKH 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

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -21.23
  43.60
  39.74
  36.27
  33.14
  30.33
  27.79
  25.51
  23.46
  21.62
  19.95
  18.46
  17.11
  15.90
  14.81
  13.83
  12.95
  12.15
  11.44
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
Revenue, $m
  831
  1,193
  1,668
  2,272
  3,025
  3,943
  5,039
  6,324
  7,808
  9,496
  11,390
  13,493
  15,802
  18,315
  21,028
  23,936
  27,035
  30,320
  33,788
  37,435
  41,259
  45,258
  49,432
  53,783
  58,312
  63,023
  67,921
  73,011
  78,300
  83,797
  89,510
Variable operating expenses, $m
 
  360
  502
  683
  908
  1,182
  1,510
  1,894
  2,338
  2,843
  3,409
  4,035
  4,725
  5,477
  6,288
  7,157
  8,084
  9,067
  10,104
  11,194
  12,338
  13,533
  14,782
  16,083
  17,437
  18,846
  20,310
  21,832
  23,414
  25,058
  26,766
Fixed operating expenses, $m
 
  778
  797
  817
  838
  859
  880
  902
  925
  948
  972
  996
  1,021
  1,046
  1,072
  1,099
  1,127
  1,155
  1,184
  1,213
  1,244
  1,275
  1,307
  1,339
  1,373
  1,407
  1,442
  1,478
  1,515
  1,553
  1,592
Total operating expenses, $m
  992
  1,138
  1,299
  1,500
  1,746
  2,041
  2,390
  2,796
  3,263
  3,791
  4,381
  5,031
  5,746
  6,523
  7,360
  8,256
  9,211
  10,222
  11,288
  12,407
  13,582
  14,808
  16,089
  17,422
  18,810
  20,253
  21,752
  23,310
  24,929
  26,611
  28,358
Operating income, $m
  -161
  55
  368
  772
  1,280
  1,902
  2,648
  3,527
  4,545
  5,705
  7,009
  8,462
  10,056
  11,792
  13,667
  15,679
  17,824
  20,099
  22,501
  25,027
  27,677
  30,450
  33,344
  36,361
  39,502
  42,770
  46,168
  49,700
  53,371
  57,186
  61,152
EBITDA, $m
  -36
  230
  611
  1,102
  1,717
  2,471
  3,375
  4,439
  5,670
  7,072
  8,649
  10,400
  12,326
  14,422
  16,687
  19,117
  21,707
  24,453
  27,353
  30,404
  33,603
  36,950
  40,444
  44,086
  47,877
  51,822
  55,923
  60,186
  64,616
  69,221
  74,008
Interest expense (income), $m
  27
  23
  48
  80
  122
  174
  237
  313
  401
  504
  620
  751
  896
  1,055
  1,228
  1,415
  1,615
  1,829
  2,056
  2,295
  2,546
  2,810
  3,085
  3,373
  3,673
  3,985
  4,310
  4,648
  4,999
  5,363
  5,742
Earnings before tax, $m
  -262
  32
  320
  692
  1,157
  1,728
  2,411
  3,215
  4,144
  5,201
  6,389
  7,712
  9,160
  10,737
  12,439
  14,264
  16,208
  18,270
  20,445
  22,733
  25,131
  27,640
  30,259
  32,988
  35,829
  38,785
  41,858
  45,052
  48,372
  51,823
  55,410
Tax expense, $m
  -94
  9
  87
  187
  313
  466
  651
  868
  1,119
  1,404
  1,725
  2,082
  2,473
  2,899
  3,359
  3,851
  4,376
  4,933
  5,520
  6,138
  6,785
  7,463
  8,170
  8,907
  9,674
  10,472
  11,302
  12,164
  13,060
  13,992
  14,961
Net income, $m
  -216
  24
  234
  505
  845
  1,261
  1,760
  2,347
  3,025
  3,797
  4,664
  5,629
  6,687
  7,838
  9,081
  10,413
  11,832
  13,337
  14,925
  16,595
  18,346
  20,177
  22,089
  24,081
  26,155
  28,313
  30,556
  32,888
  35,312
  37,831
  40,449

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  333
  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
  2,862
  3,627
  5,069
  6,907
  9,195
  11,984
  15,315
  19,222
  23,732
  28,862
  34,621
  41,012
  48,030
  55,668
  63,913
  72,753
  82,173
  92,159
  102,699
  113,784
  125,406
  137,562
  150,250
  163,474
  177,240
  191,559
  206,446
  221,917
  237,994
  254,701
  272,067
Adjusted assets (=assets-cash), $m
  2,529
  3,627
  5,069
  6,907
  9,195
  11,984
  15,315
  19,222
  23,732
  28,862
  34,621
  41,012
  48,030
  55,668
  63,913
  72,753
  82,173
  92,159
  102,699
  113,784
  125,406
  137,562
  150,250
  163,474
  177,240
  191,559
  206,446
  221,917
  237,994
  254,701
  272,067
Revenue / Adjusted assets
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
  0.329
Average production assets, $m
  955
  1,371
  1,916
  2,611
  3,476
  4,530
  5,789
  7,266
  8,971
  10,910
  13,088
  15,503
  18,156
  21,044
  24,161
  27,502
  31,063
  34,838
  38,822
  43,013
  47,406
  52,001
  56,798
  61,797
  67,001
  72,413
  78,041
  83,889
  89,967
  96,282
  102,847
Working capital, $m
  393
  320
  447
  609
  811
  1,057
  1,350
  1,695
  2,093
  2,545
  3,053
  3,616
  4,235
  4,908
  5,635
  6,415
  7,245
  8,126
  9,055
  10,033
  11,057
  12,129
  13,248
  14,414
  15,628
  16,890
  18,203
  19,567
  20,984
  22,457
  23,989
Total debt, $m
  814
  1,363
  2,297
  3,489
  4,972
  6,779
  8,937
  11,469
  14,391
  17,716
  21,448
  25,589
  30,137
  35,086
  40,429
  46,157
  52,261
  58,732
  65,562
  72,745
  80,276
  88,153
  96,375
  104,944
  113,865
  123,143
  132,790
  142,815
  153,233
  164,059
  175,312
Total liabilities, $m
  1,801
  2,350
  3,284
  4,476
  5,959
  7,766
  9,924
  12,456
  15,378
  18,703
  22,435
  26,576
  31,124
  36,073
  41,416
  47,144
  53,248
  59,719
  66,549
  73,732
  81,263
  89,140
  97,362
  105,931
  114,852
  124,130
  133,777
  143,802
  154,220
  165,046
  176,299
Total equity, $m
  1,061
  1,277
  1,784
  2,431
  3,237
  4,218
  5,391
  6,766
  8,354
  10,159
  12,187
  14,436
  16,907
  19,595
  22,498
  25,609
  28,925
  32,440
  36,150
  40,052
  44,143
  48,422
  52,888
  57,543
  62,389
  67,429
  72,669
  78,115
  83,774
  89,655
  95,768
Total liabilities and equity, $m
  2,862
  3,627
  5,068
  6,907
  9,196
  11,984
  15,315
  19,222
  23,732
  28,862
  34,622
  41,012
  48,031
  55,668
  63,914
  72,753
  82,173
  92,159
  102,699
  113,784
  125,406
  137,562
  150,250
  163,474
  177,241
  191,559
  206,446
  221,917
  237,994
  254,701
  272,067
Debt-to-equity ratio
  0.767
  1.070
  1.290
  1.430
  1.540
  1.610
  1.660
  1.700
  1.720
  1.740
  1.760
  1.770
  1.780
  1.790
  1.800
  1.800
  1.810
  1.810
  1.810
  1.820
  1.820
  1.820
  1.820
  1.820
  1.830
  1.830
  1.830
  1.830
  1.830
  1.830
  1.830
Adjusted equity ratio
  0.288
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352
  0.352

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -216
  24
  234
  505
  845
  1,261
  1,760
  2,347
  3,025
  3,797
  4,664
  5,629
  6,687
  7,838
  9,081
  10,413
  11,832
  13,337
  14,925
  16,595
  18,346
  20,177
  22,089
  24,081
  26,155
  28,313
  30,556
  32,888
  35,312
  37,831
  40,449
Depreciation, amort., depletion, $m
  125
  175
  243
  330
  438
  570
  727
  912
  1,125
  1,367
  1,639
  1,938
  2,270
  2,630
  3,020
  3,438
  3,883
  4,355
  4,853
  5,377
  5,926
  6,500
  7,100
  7,725
  8,375
  9,052
  9,755
  10,486
  11,246
  12,035
  12,856
Funds from operations, $m
  28
  198
  477
  835
  1,283
  1,831
  2,487
  3,258
  4,150
  5,164
  6,304
  7,567
  8,957
  10,469
  12,101
  13,850
  15,715
  17,692
  19,778
  21,972
  24,272
  26,677
  29,188
  31,806
  34,530
  37,365
  40,311
  43,374
  46,557
  49,866
  53,305
Change in working capital, $m
  -23
  97
  127
  162
  202
  246
  294
  345
  398
  452
  508
  563
  619
  673
  727
  779
  831
  880
  929
  977
  1,025
  1,072
  1,119
  1,166
  1,214
  1,263
  1,313
  1,364
  1,418
  1,473
  1,531
Cash from operations, $m
  51
  101
  350
  673
  1,081
  1,585
  2,193
  2,914
  3,752
  4,712
  5,796
  7,004
  8,338
  9,795
  11,374
  13,071
  14,884
  16,811
  18,848
  20,994
  23,247
  25,606
  28,070
  30,640
  33,317
  36,102
  38,999
  42,010
  45,140
  48,393
  51,774
Maintenance CAPEX, $m
  0
  -119
  -171
  -240
  -326
  -435
  -566
  -724
  -908
  -1,121
  -1,364
  -1,636
  -1,938
  -2,270
  -2,630
  -3,020
  -3,438
  -3,883
  -4,355
  -4,853
  -5,377
  -5,926
  -6,500
  -7,100
  -7,725
  -8,375
  -9,052
  -9,755
  -10,486
  -11,246
  -12,035
New CAPEX, $m
  -358
  -417
  -545
  -695
  -865
  -1,054
  -1,259
  -1,477
  -1,705
  -1,939
  -2,177
  -2,416
  -2,653
  -2,887
  -3,117
  -3,342
  -3,561
  -3,775
  -3,985
  -4,190
  -4,393
  -4,595
  -4,796
  -4,999
  -5,204
  -5,413
  -5,627
  -5,848
  -6,077
  -6,316
  -6,565
Cash from investing activities, $m
  -112
  -536
  -716
  -935
  -1,191
  -1,489
  -1,825
  -2,201
  -2,613
  -3,060
  -3,541
  -4,052
  -4,591
  -5,157
  -5,747
  -6,362
  -6,999
  -7,658
  -8,340
  -9,043
  -9,770
  -10,521
  -11,296
  -12,099
  -12,929
  -13,788
  -14,679
  -15,603
  -16,563
  -17,562
  -18,600
Free cash flow, $m
  -61
  -435
  -367
  -262
  -111
  96
  368
  713
  1,139
  1,651
  2,255
  2,952
  3,747
  4,638
  5,626
  6,709
  7,886
  9,153
  10,509
  11,951
  13,477
  15,085
  16,773
  18,541
  20,388
  22,314
  24,320
  26,407
  28,576
  30,831
  33,174
Issuance/(repayment) of debt, $m
  -58
  712
  934
  1,191
  1,483
  1,807
  2,158
  2,532
  2,922
  3,324
  3,732
  4,141
  4,548
  4,949
  5,343
  5,728
  6,104
  6,471
  6,830
  7,183
  7,531
  7,877
  8,222
  8,569
  8,921
  9,279
  9,646
  10,025
  10,418
  10,826
  11,253
Issuance/(repurchase) of shares, $m
  -2
  362
  273
  142
  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  
  -67
  1,074
  1,207
  1,333
  1,483
  1,807
  2,158
  2,532
  2,922
  3,324
  3,732
  4,141
  4,548
  4,949
  5,343
  5,728
  6,104
  6,471
  6,830
  7,183
  7,531
  7,877
  8,222
  8,569
  8,921
  9,279
  9,646
  10,025
  10,418
  10,826
  11,253
Total cash flow (excl. dividends), $m
  -130
  640
  841
  1,071
  1,373
  1,903
  2,526
  3,245
  4,061
  4,975
  5,987
  7,093
  8,295
  9,588
  10,969
  12,437
  13,990
  15,624
  17,339
  19,134
  21,008
  22,962
  24,995
  27,110
  29,309
  31,593
  33,966
  36,432
  38,994
  41,658
  44,427
Retained Cash Flow (-), $m
  210
  -386
  -507
  -647
  -806
  -982
  -1,172
  -1,375
  -1,588
  -1,806
  -2,027
  -2,250
  -2,470
  -2,688
  -2,902
  -3,112
  -3,316
  -3,515
  -3,710
  -3,902
  -4,091
  -4,279
  -4,466
  -4,655
  -4,846
  -5,040
  -5,240
  -5,446
  -5,659
  -5,881
  -6,113
Prev. year cash balance distribution, $m
 
  170
  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
 
  424
  333
  424
  567
  922
  1,354
  1,870
  2,474
  3,170
  3,960
  4,844
  5,824
  6,899
  8,067
  9,326
  10,674
  12,109
  13,629
  15,232
  16,917
  18,683
  20,529
  22,455
  24,463
  26,553
  28,726
  30,986
  33,335
  35,777
  38,314
Discount rate, %
 
  6.50
  6.83
  7.17
  7.52
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
PV of cash for distribution, $m
 
  398
  292
  345
  424
  630
  839
  1,042
  1,228
  1,389
  1,515
  1,601
  1,644
  1,642
  1,599
  1,517
  1,405
  1,269
  1,119
  963
  808
  661
  527
  410
  310
  228
  163
  113
  76
  50
  31
Current shareholders' claim on cash, %
  100
  66.6
  52.7
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0
  48.0

SEACOR Holdings Inc., is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company's segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products. Shipping Services segment operates a fleet of United States flag marine transportation related assets. Illinois Corn Processing segment produces alcohol used in the food, beverage, industrial and petrochemical end-markets. The Company also offers emergency and crisis services, lending and leasing activities, and noncontrolling investments in various other businesses.

FINANCIAL RATIOS  of  SEACOR Holdings (CKH)

Valuation Ratios
P/E Ratio -3.8
Price to Sales 1
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 16.2
Price to Free Cash Flow -2.7
Growth Rates
Sales Growth Rate -21.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.9%
Cap. Spend. - 3 Yr. Gr. Rate 12.8%
Financial Strength
Quick Ratio 2
Current Ratio 0.8
LT Debt to Equity 61.4%
Total Debt to Equity 76.7%
Interest Coverage -9
Management Effectiveness
Return On Assets -6.6%
Ret/ On Assets - 3 Yr. Avg. -1.5%
Return On Total Capital -10.2%
Ret/ On T. Cap. - 3 Yr. Avg. -2.9%
Return On Equity -18.5%
Return On Equity - 3 Yr. Avg. -5.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 28%
Gross Margin - 3 Yr. Avg. 29.4%
EBITDA Margin -13.2%
EBITDA Margin - 3 Yr. Avg. 7.4%
Operating Margin -19.4%
Oper. Margin - 3 Yr. Avg. -2.4%
Pre-Tax Margin -31.5%
Pre-Tax Margin - 3 Yr. Avg. -7.4%
Net Profit Margin -26%
Net Profit Margin - 3 Yr. Avg. -8.3%
Effective Tax Rate 35.9%
Eff/ Tax Rate - 3 Yr. Avg. 36.1%
Payout Ratio 0%

CKH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CKH stock intrinsic value calculation we used $831 million for the last fiscal year's total revenue generated by SEACOR Holdings. The default revenue input number comes from 2016 income statement of SEACOR Holdings. 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 CKH stock valuation model: a) initial revenue growth rate of 43.6% 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 6.5%, whose default value for CKH is calculated based on our internal credit rating of SEACOR Holdings, 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 SEACOR Holdings.
    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 CKH stock the variable cost ratio is equal to 30.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $759 million in the base year in the intrinsic value calculation for CKH 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 3.5% for SEACOR Holdings.

Corporate tax rate of 27% is the nominal tax rate for SEACOR Holdings. 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 CKH 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 CKH are equal to 114.9%.

Life of production assets of 8 years is the average useful life of capital assets used in SEACOR Holdings 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 CKH is equal to 26.8%. 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 - $1061 million for SEACOR Holdings - 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 18.091 million for SEACOR Holdings 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 SEACOR Holdings at the current share price and the inputted number of shares is $0.9 billion.

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COMPANY NEWS

▶ At $48.05, Is Seacor Holdings Inc (CKH) A Buy?   [06:06PM  Simply Wall St.]
▶ Witt O'Brien's Announces Senior Leadership Appointments   [Oct-18-17 03:50PM  PR Newswire]
▶ Seacor posts 1Q profit   [May-09-17 09:13AM  Associated Press]
▶ KOTUG and Seabulk Awarded Contract at Bahamas   [Apr-04-17 05:02PM  Marketwired]
▶ RM LAW Announces Investigation of SEACOR Holdings Inc.   [Mar-03-17 07:05PM  PR Newswire]
▶ [$$] International Shipholding Restructuring Plan Confirmed   [02:36PM  at The Wall Street Journal]
▶ [$$] International Shipholding to Poll Creditors on Reorganization Plan   [Jan-05-17 04:47PM  at The Wall Street Journal]
▶ [$$] Gulfmark Offshore Unveils Debt-Cutting Move   [Nov-25-16 03:24PM  at The Wall Street Journal]
▶ [$$] SEACOR Holdings in Line to Take Over Bankrupt International Shipholding   [Nov-18-16 04:51PM  at The Wall Street Journal]
▶ [$$] Companies to Watch - Nov. 7, 2016   [Nov-07-16 01:51PM  at The Wall Street Journal]
▶ Witt O'Brien's Launches Strategic Growth Initiative   [Oct-06-16 02:00PM  PR Newswire]
Financial statements of CKH
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