Intrinsic value of Compass Minerals International - CMP

Previous Close

$65.95

  Intrinsic Value

$91.85

stock screener

  Rating & Target

buy

+39%

  Value-price divergence*

+104%

Previous close

$65.95

 
Intrinsic value

$91.85

 
Up/down potential

+39%

 
Rating

buy

 
Value-price divergence*

+104%

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

We calculate the intrinsic value of CMP 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 2016), $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 2.3

 

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, %
  3.55
  34.10
  31.19
  28.57
  26.21
  24.09
  22.18
  20.46
  18.92
  17.53
  16.27
  15.15
  14.13
  13.22
  12.40
  11.66
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.18
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
Revenue, $m
  1,138
  1,526
  2,002
  2,574
  3,249
  4,032
  4,926
  5,934
  7,056
  8,293
  9,643
  11,103
  12,673
  14,348
  16,126
  18,006
  19,985
  22,062
  24,236
  26,507
  28,874
  31,339
  33,904
  36,571
  39,342
  42,223
  45,216
  48,327
  51,561
  54,924
  58,423
Variable operating expenses, $m
 
  1,204
  1,566
  2,002
  2,516
  3,112
  3,794
  4,562
  5,417
  6,359
  7,387
  8,459
  9,654
  10,930
  12,285
  13,717
  15,225
  16,807
  18,463
  20,193
  21,996
  23,874
  25,828
  27,859
  29,971
  32,165
  34,445
  36,815
  39,279
  41,841
  44,507
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
  963
  1,204
  1,566
  2,002
  2,516
  3,112
  3,794
  4,562
  5,417
  6,359
  7,387
  8,459
  9,654
  10,930
  12,285
  13,717
  15,225
  16,807
  18,463
  20,193
  21,996
  23,874
  25,828
  27,859
  29,971
  32,165
  34,445
  36,815
  39,279
  41,841
  44,507
Operating income, $m
  175
  322
  436
  572
  733
  919
  1,132
  1,372
  1,640
  1,934
  2,256
  2,645
  3,019
  3,418
  3,841
  4,289
  4,761
  5,255
  5,773
  6,314
  6,878
  7,465
  8,076
  8,711
  9,372
  10,058
  10,771
  11,512
  12,282
  13,083
  13,917
EBITDA, $m
  265
  462
  606
  780
  984
  1,221
  1,492
  1,797
  2,137
  2,512
  2,921
  3,363
  3,838
  4,346
  4,885
  5,454
  6,053
  6,683
  7,341
  8,029
  8,746
  9,492
  10,269
  11,077
  11,917
  12,789
  13,696
  14,638
  15,618
  16,636
  17,696
Interest expense (income), $m
  27
  44
  64
  88
  118
  152
  193
  239
  291
  348
  412
  481
  557
  637
  724
  815
  912
  1,014
  1,121
  1,233
  1,349
  1,471
  1,598
  1,730
  1,867
  2,010
  2,158
  2,312
  2,473
  2,639
  2,812
Earnings before tax, $m
  197
  279
  372
  484
  615
  767
  940
  1,134
  1,349
  1,586
  1,844
  2,163
  2,462
  2,780
  3,118
  3,474
  3,849
  4,242
  4,652
  5,081
  5,528
  5,994
  6,478
  6,981
  7,504
  8,048
  8,612
  9,199
  9,810
  10,444
  11,105
Tax expense, $m
  34
  75
  100
  131
  166
  207
  254
  306
  364
  428
  498
  584
  665
  751
  842
  938
  1,039
  1,145
  1,256
  1,372
  1,493
  1,618
  1,749
  1,885
  2,026
  2,173
  2,325
  2,484
  2,649
  2,820
  2,998
Net income, $m
  163
  203
  272
  353
  449
  560
  686
  828
  985
  1,158
  1,346
  1,579
  1,797
  2,030
  2,276
  2,536
  2,810
  3,096
  3,396
  3,709
  4,036
  4,375
  4,729
  5,096
  5,478
  5,875
  6,287
  6,715
  7,161
  7,624
  8,106

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  77
  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
  2,467
  3,206
  4,206
  5,408
  6,825
  8,470
  10,348
  12,466
  14,825
  17,423
  20,258
  23,327
  26,623
  30,142
  33,879
  37,828
  41,986
  46,350
  50,916
  55,686
  60,659
  65,838
  71,227
  76,829
  82,652
  88,703
  94,992
  101,527
  108,322
  115,387
  122,738
Adjusted assets (=assets-cash), $m
  2,390
  3,206
  4,206
  5,408
  6,825
  8,470
  10,348
  12,466
  14,825
  17,423
  20,258
  23,327
  26,623
  30,142
  33,879
  37,828
  41,986
  46,350
  50,916
  55,686
  60,659
  65,838
  71,227
  76,829
  82,652
  88,703
  94,992
  101,527
  108,322
  115,387
  122,738
Revenue / Adjusted assets
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
  0.476
Average production assets, $m
  1,068
  1,431
  1,878
  2,414
  3,047
  3,782
  4,620
  5,566
  6,619
  7,779
  9,045
  10,415
  11,887
  13,458
  15,127
  16,890
  18,746
  20,695
  22,734
  24,863
  27,084
  29,396
  31,802
  34,303
  36,903
  39,605
  42,413
  45,331
  48,364
  51,519
  54,801
Working capital, $m
  343
  531
  697
  896
  1,131
  1,403
  1,714
  2,065
  2,456
  2,886
  3,356
  3,864
  4,410
  4,993
  5,612
  6,266
  6,955
  7,678
  8,434
  9,224
  10,048
  10,906
  11,799
  12,727
  13,691
  14,694
  15,735
  16,818
  17,943
  19,114
  20,331
Total debt, $m
  1,325
  1,819
  2,519
  3,360
  4,353
  5,504
  6,819
  8,301
  9,952
  11,771
  13,756
  15,904
  18,211
  20,675
  23,290
  26,055
  28,965
  32,020
  35,216
  38,555
  42,037
  45,662
  49,434
  53,355
  57,432
  61,667
  66,069
  70,644
  75,400
  80,346
  85,492
Total liabilities, $m
  1,749
  2,244
  2,944
  3,785
  4,778
  5,929
  7,244
  8,726
  10,377
  12,196
  14,181
  16,329
  18,636
  21,100
  23,715
  26,480
  29,390
  32,445
  35,641
  38,980
  42,462
  46,087
  49,859
  53,780
  57,857
  62,092
  66,494
  71,069
  75,825
  80,771
  85,917
Total equity, $m
  717
  962
  1,262
  1,622
  2,048
  2,541
  3,105
  3,740
  4,447
  5,227
  6,077
  6,998
  7,987
  9,043
  10,164
  11,349
  12,596
  13,905
  15,275
  16,706
  18,198
  19,752
  21,368
  23,049
  24,796
  26,611
  28,497
  30,458
  32,496
  34,616
  36,821
Total liabilities and equity, $m
  2,466
  3,206
  4,206
  5,407
  6,826
  8,470
  10,349
  12,466
  14,824
  17,423
  20,258
  23,327
  26,623
  30,143
  33,879
  37,829
  41,986
  46,350
  50,916
  55,686
  60,660
  65,839
  71,227
  76,829
  82,653
  88,703
  94,991
  101,527
  108,321
  115,387
  122,738
Debt-to-equity ratio
  1.848
  1.890
  2.000
  2.070
  2.130
  2.170
  2.200
  2.220
  2.240
  2.250
  2.260
  2.270
  2.280
  2.290
  2.290
  2.300
  2.300
  2.300
  2.310
  2.310
  2.310
  2.310
  2.310
  2.310
  2.320
  2.320
  2.320
  2.320
  2.320
  2.320
  2.320
Adjusted equity ratio
  0.268
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300
  0.300

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  163
  203
  272
  353
  449
  560
  686
  828
  985
  1,158
  1,346
  1,579
  1,797
  2,030
  2,276
  2,536
  2,810
  3,096
  3,396
  3,709
  4,036
  4,375
  4,729
  5,096
  5,478
  5,875
  6,287
  6,715
  7,161
  7,624
  8,106
Depreciation, amort., depletion, $m
  90
  140
  171
  208
  251
  302
  360
  425
  498
  578
  665
  718
  820
  928
  1,043
  1,165
  1,293
  1,427
  1,568
  1,715
  1,868
  2,027
  2,193
  2,366
  2,545
  2,731
  2,925
  3,126
  3,335
  3,553
  3,779
Funds from operations, $m
  135
  343
  442
  561
  700
  862
  1,046
  1,253
  1,483
  1,735
  2,011
  2,298
  2,617
  2,958
  3,319
  3,701
  4,102
  4,524
  4,964
  5,424
  5,904
  6,403
  6,922
  7,462
  8,023
  8,606
  9,212
  9,842
  10,496
  11,177
  11,886
Change in working capital, $m
  -32
  135
  166
  199
  235
  272
  311
  351
  391
  430
  470
  508
  546
  583
  619
  654
  689
  723
  756
  790
  824
  858
  893
  928
  965
  1,002
  1,042
  1,083
  1,125
  1,170
  1,218
Cash from operations, $m
  167
  208
  277
  362
  466
  589
  734
  902
  1,092
  1,305
  1,541
  1,789
  2,071
  2,375
  2,700
  3,047
  3,414
  3,801
  4,208
  4,634
  5,080
  5,545
  6,030
  6,534
  7,058
  7,604
  8,170
  8,759
  9,371
  10,007
  10,668
Maintenance CAPEX, $m
  0
  -74
  -99
  -130
  -167
  -210
  -261
  -319
  -384
  -456
  -536
  -624
  -718
  -820
  -928
  -1,043
  -1,165
  -1,293
  -1,427
  -1,568
  -1,715
  -1,868
  -2,027
  -2,193
  -2,366
  -2,545
  -2,731
  -2,925
  -3,126
  -3,335
  -3,553
New CAPEX, $m
  -182
  -363
  -446
  -537
  -633
  -734
  -839
  -946
  -1,053
  -1,160
  -1,266
  -1,370
  -1,472
  -1,571
  -1,668
  -1,763
  -1,856
  -1,948
  -2,039
  -2,130
  -2,221
  -2,312
  -2,406
  -2,501
  -2,600
  -2,702
  -2,808
  -2,918
  -3,034
  -3,155
  -3,282
Cash from investing activities, $m
  -468
  -437
  -545
  -667
  -800
  -944
  -1,100
  -1,265
  -1,437
  -1,616
  -1,802
  -1,994
  -2,190
  -2,391
  -2,596
  -2,806
  -3,021
  -3,241
  -3,466
  -3,698
  -3,936
  -4,180
  -4,433
  -4,694
  -4,966
  -5,247
  -5,539
  -5,843
  -6,160
  -6,490
  -6,835
Free cash flow, $m
  -301
  -229
  -269
  -304
  -334
  -355
  -365
  -362
  -345
  -312
  -261
  -204
  -119
  -16
  104
  240
  392
  560
  741
  937
  1,145
  1,365
  1,596
  1,839
  2,093
  2,357
  2,631
  2,916
  3,211
  3,517
  3,833
Issuance/(repayment) of debt, $m
  417
  571
  700
  841
  992
  1,151
  1,315
  1,482
  1,651
  1,819
  1,985
  2,148
  2,308
  2,463
  2,616
  2,765
  2,911
  3,054
  3,197
  3,339
  3,481
  3,625
  3,772
  3,922
  4,076
  4,236
  4,402
  4,575
  4,756
  4,946
  5,146
Issuance/(repurchase) of shares, $m
  1
  41
  28
  7
  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  
  409
  612
  728
  848
  992
  1,151
  1,315
  1,482
  1,651
  1,819
  1,985
  2,148
  2,308
  2,463
  2,616
  2,765
  2,911
  3,054
  3,197
  3,339
  3,481
  3,625
  3,772
  3,922
  4,076
  4,236
  4,402
  4,575
  4,756
  4,946
  5,146
Total cash flow (excl. dividends), $m
  113
  384
  460
  544
  658
  796
  950
  1,120
  1,306
  1,507
  1,724
  1,943
  2,188
  2,447
  2,719
  3,005
  3,303
  3,614
  3,938
  4,275
  4,626
  4,990
  5,368
  5,761
  6,169
  6,593
  7,033
  7,491
  7,967
  8,463
  8,979
Retained Cash Flow (-), $m
  -77
  -245
  -300
  -361
  -425
  -493
  -564
  -635
  -708
  -779
  -851
  -921
  -989
  -1,056
  -1,121
  -1,185
  -1,247
  -1,309
  -1,370
  -1,431
  -1,492
  -1,554
  -1,616
  -1,681
  -1,747
  -1,815
  -1,886
  -1,961
  -2,038
  -2,120
  -2,205
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
 
  139
  160
  184
  233
  303
  386
  485
  598
  728
  873
  1,023
  1,199
  1,391
  1,598
  1,820
  2,056
  2,305
  2,568
  2,844
  3,134
  3,436
  3,752
  4,080
  4,422
  4,777
  5,147
  5,530
  5,929
  6,343
  6,773
Discount rate, %
 
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
 
  127
  133
  137
  155
  177
  197
  213
  224
  228
  227
  217
  204
  187
  166
  144
  122
  100
  79
  61
  46
  33
  24
  16
  11
  7
  4
  2
  1
  1
  0
Current shareholders' claim on cash, %
  100
  98.2
  97.3
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1
  97.1

Compass Minerals International, Inc. (CMI) is a provider of essential minerals that solve nature's challenges, including salt for winter roadway safety and other consumer, industrial and agricultural uses; specialty plant nutrition minerals for the quality and yield of crops, and specialty chemicals for water treatment and other industrial processes. The Company has three segments: Salt, Plant Nutrition North America and Plant Nutrition South America. The Salt segment produces and markets salt and magnesium chloride for use in road deicing and dust control, food processing, water softeners, and agricultural and industrial applications. Its Plant Nutrition North America segment includes sales of sulfate of potash (SOP) specialty fertilizer and micronutrients. The Plant Nutrition South America segment operates two primary businesses in Brazil: agricultural productivity and chemical solutions.

FINANCIAL RATIOS  of  Compass Minerals International (CMP)

Valuation Ratios
P/E Ratio 13.7
Price to Sales 2
Price to Book 3.1
Price to Tangible Book
Price to Cash Flow 13.3
Price to Free Cash Flow -148.6
Growth Rates
Sales Growth Rate 3.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -16.5%
Cap. Spend. - 3 Yr. Gr. Rate 8.2%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 166.7%
Total Debt to Equity 184.8%
Interest Coverage 8
Management Effectiveness
Return On Assets 9.1%
Ret/ On Assets - 3 Yr. Avg. 11.6%
Return On Total Capital 9.6%
Ret/ On T. Cap. - 3 Yr. Avg. 13.5%
Return On Equity 24%
Return On Equity - 3 Yr. Avg. 28.2%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 26.4%
Gross Margin - 3 Yr. Avg. 29.7%
EBITDA Margin 27.6%
EBITDA Margin - 3 Yr. Avg. 28.7%
Operating Margin 15.4%
Oper. Margin - 3 Yr. Avg. 19.9%
Pre-Tax Margin 17.3%
Pre-Tax Margin - 3 Yr. Avg. 19.9%
Net Profit Margin 14.3%
Net Profit Margin - 3 Yr. Avg. 15.3%
Effective Tax Rate 17.3%
Eff/ Tax Rate - 3 Yr. Avg. 22.9%
Payout Ratio 57.7%

CMP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CMP stock intrinsic value calculation we used $1138 million for the last fiscal year's total revenue generated by Compass Minerals International. The default revenue input number comes from 2016 income statement of Compass Minerals 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 CMP stock valuation model: a) initial revenue growth rate of 34.1% 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 9.3%, whose default value for CMP is calculated based on our internal credit rating of Compass Minerals 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 Compass Minerals 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 CMP stock the variable cost ratio is equal to 79.8%.

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 CMP 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 Compass Minerals International.

Corporate tax rate of 27% is the nominal tax rate for Compass Minerals 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 CMP 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 CMP are equal to 93.8%.

Life of production assets of 14.5 years is the average useful life of capital assets used in Compass Minerals 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 CMP is equal to 34.8%. 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 - $717 million for Compass Minerals 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 34.32 million for Compass Minerals 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 Compass Minerals International at the current share price and the inputted number of shares is $2.3 billion.

RELATED COMPANIES Price Int.Val. Rating
IPI Intrepid Potas 4.06 0.69  str.sell
CINR Ciner Resource 25.25 51.26  str.buy
SQM Sociedad Quimi 61.45 16.66  str.sell
POT Potash of Sask 19.41 2.40  str.sell

COMPANY NEWS

▶ Company News For Sep 25, 2017   [Sep-25-17 12:54PM  Zacks]
▶ We Expect Compass Minerals to Bounce Back   [07:00AM  Morningstar]
▶ Whats Compass Minerals Doing to Gain a Cost Advantage?   [Aug-18-17 12:06PM  Market Realist]
▶ Compass reports 2Q loss   [Aug-07-17 11:55PM  Associated Press]
▶ Compass Minerals Declares Dividend   [Aug-04-17 08:45AM  Business Wire]
▶ The Best Stock in Kansas: Compass Minerals   [Jul-18-17 04:30PM  Kiplinger]
▶ 3 Stocks on the Motley Fool Money Radar This Week   [Jun-22-17 02:23PM  Motley Fool]
▶ Weitz Funds Comments on Compass Minerals   [May-18-17 01:15PM  GuruFocus.com]
▶ Compass Minerals Declares Dividend   [May-04-17 07:30AM  Business Wire]
▶ Compass Minerals Survives a Mild Winter   [May-03-17 07:19PM  Motley Fool]
▶ Compass beats 1Q profit forecasts   [04:36PM  Associated Press]
▶ 9 Small-Cap Stocks With Wide Moats   [Apr-12-17 06:00AM  Morningstar]
▶ Compass Minerals Reports First-Quarter Snow-Event Data   [Apr-10-17 09:00AM  Business Wire]
▶ Snow Scarcity Dings Compass Minerals   [Apr-05-17 10:40AM  Morningstar]
▶ Stocks Reach Their 3-Year Lows   [Apr-02-17 11:01AM  GuruFocus.com]
▶ Basic Materials: The Most Expensive Sector We Cover   [Mar-30-17 07:00AM  Morningstar]
▶ Could It Be Time to Buy US Domestic Moats?   [Mar-27-17 04:05PM  Market Realist]
▶ Which KC-area stocks had the best, worst February? Take a look   [04:00PM  American City Business Journals]
▶ Compass Minerals to Host Investor Meetings   [04:15PM  Business Wire]
▶ Compass Minerals Posts a Double Win   [Feb-08-17 07:05PM  at Motley Fool]
▶ Eight Dividend Stocks Rewarding Shareholders With A Raise   [Feb-07-17 12:55PM  at Insider Monkey]
Financial statements of CMP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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