Intrinsic value of Constellium Cl A - CSTM

Previous Close

$11.30

  Intrinsic Value

$34.88

stock screener

  Rating & Target

str. buy

+209%

Previous close

$11.30

 
Intrinsic value

$34.88

 
Up/down potential

+209%

 
Rating

str. buy

We calculate the intrinsic value of CSTM 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 2017), $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 1.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  25.90
  23.81
  21.93
  20.24
  18.71
  17.34
  16.11
  15.00
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
Revenue, $m
  7,915
  9,800
  11,949
  14,367
  17,055
  20,013
  23,237
  26,721
  30,461
  34,451
  38,684
  43,155
  47,861
  52,796
  57,960
  63,352
  68,974
  74,826
  80,915
  87,245
  93,824
  100,661
  107,766
  115,150
  122,828
  130,812
  139,119
  147,766
  156,770
  166,152
Variable operating expenses, $m
  7,133
  8,818
  10,739
  12,901
  15,304
  17,948
  20,830
  23,946
  27,289
  30,856
  34,584
  38,581
  42,788
  47,200
  51,817
  56,638
  61,663
  66,896
  72,339
  77,998
  83,880
  89,992
  96,344
  102,946
  109,809
  116,948
  124,374
  132,104
  140,155
  148,542
Fixed operating expenses, $m
  238
  243
  249
  254
  260
  265
  271
  277
  283
  290
  296
  303
  309
  316
  323
  330
  337
  345
  352
  360
  368
  376
  384
  393
  401
  410
  419
  429
  438
  448
Total operating expenses, $m
  7,371
  9,061
  10,988
  13,155
  15,564
  18,213
  21,101
  24,223
  27,572
  31,146
  34,880
  38,884
  43,097
  47,516
  52,140
  56,968
  62,000
  67,241
  72,691
  78,358
  84,248
  90,368
  96,728
  103,339
  110,210
  117,358
  124,793
  132,533
  140,593
  148,990
Operating income, $m
  544
  739
  961
  1,212
  1,491
  1,799
  2,135
  2,498
  2,889
  3,305
  3,804
  4,271
  4,763
  5,280
  5,820
  6,384
  6,973
  7,586
  8,224
  8,887
  9,576
  10,293
  11,037
  11,812
  12,617
  13,454
  14,325
  15,233
  16,178
  17,162
EBITDA, $m
  884
  1,146
  1,445
  1,783
  2,158
  2,572
  3,023
  3,511
  4,036
  4,595
  5,189
  5,816
  6,477
  7,170
  7,895
  8,652
  9,442
  10,265
  11,120
  12,010
  12,935
  13,896
  14,895
  15,934
  17,014
  18,137
  19,306
  20,523
  21,790
  23,111
Interest expense (income), $m
  184
  142
  153
  218
  292
  375
  468
  570
  681
  801
  930
  1,067
  1,213
  1,367
  1,529
  1,699
  1,877
  2,062
  2,256
  2,458
  2,667
  2,885
  3,112
  3,348
  3,592
  3,847
  4,111
  4,386
  4,672
  4,970
  5,280
Earnings before tax, $m
  402
  586
  743
  920
  1,116
  1,331
  1,565
  1,818
  2,088
  2,376
  2,737
  3,059
  3,397
  3,751
  4,121
  4,508
  4,911
  5,330
  5,766
  6,219
  6,691
  7,181
  7,690
  8,219
  8,770
  9,343
  9,939
  10,561
  11,208
  11,882
Tax expense, $m
  109
  158
  201
  248
  301
  359
  423
  491
  564
  641
  739
  826
  917
  1,013
  1,113
  1,217
  1,326
  1,439
  1,557
  1,679
  1,806
  1,939
  2,076
  2,219
  2,368
  2,523
  2,684
  2,851
  3,026
  3,208
Net income, $m
  294
  428
  543
  672
  815
  972
  1,143
  1,327
  1,524
  1,734
  1,998
  2,233
  2,480
  2,738
  3,008
  3,291
  3,585
  3,891
  4,209
  4,540
  4,884
  5,242
  5,614
  6,000
  6,402
  6,820
  7,256
  7,709
  8,182
  8,674

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
  5,610
  6,945
  8,468
  10,182
  12,087
  14,184
  16,468
  18,938
  21,589
  24,416
  27,416
  30,585
  33,920
  37,418
  41,077
  44,899
  48,883
  53,031
  57,346
  61,832
  66,495
  71,340
  76,376
  81,609
  87,050
  92,709
  98,596
  104,724
  111,106
  117,755
Adjusted assets (=assets-cash), $m
  5,610
  6,945
  8,468
  10,182
  12,087
  14,184
  16,468
  18,938
  21,589
  24,416
  27,416
  30,585
  33,920
  37,418
  41,077
  44,899
  48,883
  53,031
  57,346
  61,832
  66,495
  71,340
  76,376
  81,609
  87,050
  92,709
  98,596
  104,724
  111,106
  117,755
Revenue / Adjusted assets
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
  1.411
Average production assets, $m
  2,834
  3,508
  4,278
  5,143
  6,106
  7,165
  8,319
  9,566
  10,905
  12,333
  13,849
  15,450
  17,134
  18,901
  20,750
  22,680
  24,693
  26,788
  28,968
  31,234
  33,589
  36,037
  38,580
  41,224
  43,972
  46,831
  49,805
  52,900
  56,124
  59,482
Working capital, $m
  -514
  -637
  -777
  -934
  -1,109
  -1,301
  -1,510
  -1,737
  -1,980
  -2,239
  -2,514
  -2,805
  -3,111
  -3,432
  -3,767
  -4,118
  -4,483
  -4,864
  -5,259
  -5,671
  -6,099
  -6,543
  -7,005
  -7,485
  -7,984
  -8,503
  -9,043
  -9,605
  -10,190
  -10,800
Total debt, $m
  2,833
  4,036
  5,406
  6,949
  8,663
  10,550
  12,606
  14,829
  17,214
  19,759
  22,459
  25,311
  28,312
  31,460
  34,754
  38,194
  41,779
  45,512
  49,396
  53,434
  57,630
  61,991
  66,523
  71,233
  76,130
  81,222
  86,521
  92,036
  97,780
  103,764
Total liabilities, $m
  5,049
  6,251
  7,622
  9,164
  10,879
  12,765
  14,821
  17,044
  19,430
  21,974
  24,674
  27,526
  30,528
  33,676
  36,970
  40,409
  43,994
  47,728
  51,611
  55,649
  59,845
  64,206
  68,738
  73,448
  78,345
  83,438
  88,736
  94,252
  99,995
  105,979
Total equity, $m
  561
  695
  847
  1,018
  1,209
  1,418
  1,647
  1,894
  2,159
  2,442
  2,742
  3,058
  3,392
  3,742
  4,108
  4,490
  4,888
  5,303
  5,735
  6,183
  6,649
  7,134
  7,638
  8,161
  8,705
  9,271
  9,860
  10,472
  11,111
  11,775
Total liabilities and equity, $m
  5,610
  6,946
  8,469
  10,182
  12,088
  14,183
  16,468
  18,938
  21,589
  24,416
  27,416
  30,584
  33,920
  37,418
  41,078
  44,899
  48,882
  53,031
  57,346
  61,832
  66,494
  71,340
  76,376
  81,609
  87,050
  92,709
  98,596
  104,724
  111,106
  117,754
Debt-to-equity ratio
  5.050
  5.810
  6.380
  6.820
  7.170
  7.440
  7.650
  7.830
  7.970
  8.090
  8.190
  8.280
  8.350
  8.410
  8.460
  8.510
  8.550
  8.580
  8.610
  8.640
  8.670
  8.690
  8.710
  8.730
  8.750
  8.760
  8.780
  8.790
  8.800
  8.810
Adjusted equity ratio
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  294
  428
  543
  672
  815
  972
  1,143
  1,327
  1,524
  1,734
  1,998
  2,233
  2,480
  2,738
  3,008
  3,291
  3,585
  3,891
  4,209
  4,540
  4,884
  5,242
  5,614
  6,000
  6,402
  6,820
  7,256
  7,709
  8,182
  8,674
Depreciation, amort., depletion, $m
  340
  407
  484
  571
  667
  773
  888
  1,013
  1,147
  1,290
  1,385
  1,545
  1,713
  1,890
  2,075
  2,268
  2,469
  2,679
  2,897
  3,123
  3,359
  3,604
  3,858
  4,122
  4,397
  4,683
  4,980
  5,290
  5,612
  5,948
Funds from operations, $m
  633
  835
  1,027
  1,243
  1,482
  1,745
  2,031
  2,340
  2,671
  3,024
  3,383
  3,778
  4,193
  4,628
  5,083
  5,559
  6,054
  6,570
  7,106
  7,664
  8,243
  8,846
  9,472
  10,123
  10,799
  11,503
  12,236
  12,999
  13,794
  14,622
Change in working capital, $m
  -106
  -123
  -140
  -157
  -175
  -192
  -210
  -227
  -243
  -259
  -275
  -291
  -306
  -321
  -336
  -350
  -365
  -380
  -396
  -411
  -428
  -444
  -462
  -480
  -499
  -519
  -540
  -562
  -585
  -610
Cash from operations, $m
  739
  957
  1,167
  1,400
  1,657
  1,937
  2,241
  2,566
  2,914
  3,283
  3,658
  4,068
  4,499
  4,949
  5,419
  5,909
  6,419
  6,950
  7,502
  8,075
  8,671
  9,290
  9,933
  10,603
  11,298
  12,022
  12,776
  13,561
  14,379
  15,232
Maintenance CAPEX, $m
  -225
  -283
  -351
  -428
  -514
  -611
  -716
  -832
  -957
  -1,091
  -1,233
  -1,385
  -1,545
  -1,713
  -1,890
  -2,075
  -2,268
  -2,469
  -2,679
  -2,897
  -3,123
  -3,359
  -3,604
  -3,858
  -4,122
  -4,397
  -4,683
  -4,980
  -5,290
  -5,612
New CAPEX, $m
  -581
  -675
  -769
  -866
  -962
  -1,059
  -1,154
  -1,248
  -1,339
  -1,428
  -1,515
  -1,601
  -1,684
  -1,767
  -1,849
  -1,930
  -2,012
  -2,095
  -2,180
  -2,266
  -2,355
  -2,448
  -2,544
  -2,644
  -2,748
  -2,858
  -2,974
  -3,096
  -3,224
  -3,359
Cash from investing activities, $m
  -806
  -958
  -1,120
  -1,294
  -1,476
  -1,670
  -1,870
  -2,080
  -2,296
  -2,519
  -2,748
  -2,986
  -3,229
  -3,480
  -3,739
  -4,005
  -4,280
  -4,564
  -4,859
  -5,163
  -5,478
  -5,807
  -6,148
  -6,502
  -6,870
  -7,255
  -7,657
  -8,076
  -8,514
  -8,971
Free cash flow, $m
  -67
  -1
  46
  106
  180
  268
  370
  487
  619
  765
  909
  1,083
  1,269
  1,469
  1,680
  1,904
  2,139
  2,385
  2,643
  2,912
  3,192
  3,483
  3,786
  4,101
  4,428
  4,767
  5,119
  5,485
  5,866
  6,261
Issuance/(repayment) of debt, $m
  201
  1,202
  1,371
  1,542
  1,715
  1,887
  2,056
  2,223
  2,386
  2,545
  2,700
  2,852
  3,001
  3,148
  3,294
  3,439
  3,585
  3,733
  3,884
  4,038
  4,196
  4,361
  4,532
  4,710
  4,897
  5,093
  5,299
  5,515
  5,744
  5,984
Issuance/(repurchase) of shares, $m
  660
  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  
  861
  1,202
  1,371
  1,542
  1,715
  1,887
  2,056
  2,223
  2,386
  2,545
  2,700
  2,852
  3,001
  3,148
  3,294
  3,439
  3,585
  3,733
  3,884
  4,038
  4,196
  4,361
  4,532
  4,710
  4,897
  5,093
  5,299
  5,515
  5,744
  5,984
Total cash flow (excl. dividends), $m
  794
  1,202
  1,417
  1,649
  1,895
  2,154
  2,426
  2,710
  3,004
  3,309
  3,609
  3,935
  4,271
  4,617
  4,974
  5,343
  5,724
  6,119
  6,527
  6,950
  7,389
  7,844
  8,318
  8,811
  9,324
  9,860
  10,418
  11,001
  11,609
  12,245
Retained Cash Flow (-), $m
  -954
  -134
  -152
  -171
  -191
  -210
  -228
  -247
  -265
  -283
  -300
  -317
  -333
  -350
  -366
  -382
  -398
  -415
  -432
  -449
  -466
  -485
  -504
  -523
  -544
  -566
  -589
  -613
  -638
  -665
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
  -160
  1,068
  1,265
  1,477
  1,704
  1,945
  2,198
  2,463
  2,739
  3,027
  3,309
  3,618
  3,937
  4,267
  4,608
  4,961
  5,326
  5,704
  6,095
  6,501
  6,922
  7,360
  7,815
  8,288
  8,780
  9,294
  9,829
  10,388
  10,971
  11,580
Discount rate, %
  13.90
  14.60
  15.32
  16.09
  16.90
  17.74
  18.63
  19.56
  20.54
  21.56
  22.64
  23.77
  24.96
  26.21
  27.52
  28.90
  30.34
  31.86
  33.45
  35.12
  36.88
  38.72
  40.66
  42.69
  44.83
  47.07
  49.42
  51.90
  54.49
  57.21
PV of cash for distribution, $m
  -140
  813
  825
  813
  781
  730
  665
  590
  510
  429
  351
  280
  217
  164
  120
  85
  59
  39
  25
  16
  9
  5
  3
  2
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Constellium N.V. is a Netherlands-based company engaged in developing aluminum products for a range of markets and applications, including aerospace, automotive and packaging. The Company's manufacturing facilities are located in the United States, Europe and China. It operates through three segments: Packaging & Automotive Rolled Product; Aerospace & Transportation, and Automotive Structures & Industry. Its products include can body stock, can end stock, auto body sheet, heat exchangers, specialty reflective sheet, aerospace plates and sheets, aerospace wingskins, plates for general engineering, sheets for transportation applications, soft alloys, hard alloys, large profiles and automotive structures. It offers services, such as pre-machining services, which includes surface machining, boring and drilling; aluminum recycling services to recycle aluminum from end-of-life aircraft, and advanced welding services.

FINANCIAL RATIOS  of  Constellium Cl A (CSTM)

Valuation Ratios
P/E Ratio -298.3
Price to Sales 0.2
Price to Book -2
Price to Tangible Book
Price to Cash Flow 12.8
Price to Free Cash Flow -4.2
Growth Rates
Sales Growth Rate -8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.6%
Cap. Spend. - 3 Yr. Gr. Rate 19.8%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity -407.9%
Total Debt to Equity -426.4%
Interest Coverage 1
Management Effectiveness
Return On Assets -0.4%
Ret/ On Assets - 3 Yr. Avg. -3.3%
Return On Total Capital -0.2%
Ret/ On T. Cap. - 3 Yr. Avg. -10.7%
Return On Equity 0.7%
Return On Equity - 3 Yr. Avg. -264.8%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 10.9%
Gross Margin - 3 Yr. Avg. 10.9%
EBITDA Margin 8.3%
EBITDA Margin - 3 Yr. Avg. 2.5%
Operating Margin 5.2%
Oper. Margin - 3 Yr. Avg. 0.3%
Pre-Tax Margin 1.4%
Pre-Tax Margin - 3 Yr. Avg. -2.5%
Net Profit Margin -0.1%
Net Profit Margin - 3 Yr. Avg. -3.1%
Effective Tax Rate 105.8%
Eff/ Tax Rate - 3 Yr. Avg. 50.6%
Payout Ratio 0%

CSTM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CSTM stock intrinsic value calculation we used $6287 million for the last fiscal year's total revenue generated by Constellium Cl A. The default revenue input number comes from 2017 income statement of Constellium Cl 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 CSTM stock valuation model: a) initial revenue growth rate of 25.9% 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 13.9%, whose default value for CSTM is calculated based on our internal credit rating of Constellium Cl 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 Constellium Cl 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 CSTM stock the variable cost ratio is equal to 90.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $233 million in the base year in the intrinsic value calculation for CSTM 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 Constellium Cl A.

Corporate tax rate of 27% is the nominal tax rate for Constellium Cl 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 CSTM 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 CSTM are equal to 35.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Constellium Cl 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 CSTM is equal to -6.5%. 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 - $-393 million for Constellium Cl 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 106 million for Constellium Cl 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 Constellium Cl A at the current share price and the inputted number of shares is $1.2 billion.

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PKOH Park-Ohio Hold 39.65 92.77  str.buy

COMPANY NEWS

▶ Why Constellium N.V. Stock Popped 10%   [12:39PM  Motley Fool]
▶ Constellium: 2Q Earnings Snapshot   [06:27AM  Associated Press]
▶ Constellium's Q2 Earnings Preview   [Jul-23-18 03:35PM  Benzinga]
▶ How Much Is Alcoa Hurt By Trump Tariffs?   [Jul-20-18 10:27PM  InvestorPlace]
▶ [$$] Why U.S. Metals Tariffs Are Unlikely to Change Trade Patterns   [Jul-17-18 08:11PM  The Wall Street Journal]
▶ 2 Aluminum Stocks To Buy, According To Jefferies   [Jul-16-18 04:35PM  Benzinga]
▶ 4 Stocks That Can Win the Electric Car Race   [Jul-03-18 06:00AM  Investopedia]
▶ Constellium posts Annual General Meeting Materials   [Apr-27-18 10:16AM  GlobeNewswire]
▶ Hedge Funds Like These European Companies; Should You?   [Apr-20-18 10:36PM  Insider Monkey]
▶ Constellium Q4 Earnings Preview   [Feb-22-18 11:37AM  Benzinga]
▶ Constellium N.V. Announces Delisting From Euronext Paris   [Jan-31-18 02:02AM  GlobeNewswire]
▶ ETFs with exposure to Constellium NV : December 21, 2017   [Dec-21-17 11:22AM  Capital Cube]
▶ ETFs with exposure to Constellium NV : December 7, 2017   [Dec-07-17 01:25PM  Capital Cube]
▶ ETFs with exposure to Constellium NV : November 15, 2017   [Nov-15-17 11:44AM  Capital Cube]
▶ ETFs with exposure to Constellium NV : November 3, 2017   [Nov-03-17 12:05PM  Capital Cube]
▶ Constellium Prices Notes Offering   [Nov-02-17 01:37PM  GlobeNewswire]
▶ Constellium prices offering of ordinary shares   [Oct-31-17 06:49PM  GlobeNewswire]
▶ A Well-Defined Niche: Steel-Alloy Stocks Rebound In New Era   [Oct-27-17 12:38PM  Investor's Business Daily]
▶ Constellium tops 3Q profit forecasts   [05:03AM  Associated Press]
▶ ETFs with exposure to Constellium NV : August 15, 2017   [Aug-15-17 03:52PM  Capital Cube]
▶ Why Constellium N.V.'s Shares Popped 19% Today   [Aug-04-17 04:15PM  Motley Fool]
▶ Constellium misses Street 2Q forecasts   [Jul-28-17 01:32AM  Associated Press]
▶ Investor Network: Constellium NV to Host Earnings Call   [Jul-27-17 09:10AM  ACCESSWIRE]
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