Intrinsic value of Changyou.com ADR - CYOU

Previous Close

$28.13

  Intrinsic Value

$61.41

stock screener

  Rating & Target

str. buy

+118%

Previous close

$28.13

 
Intrinsic value

$61.41

 
Up/down potential

+118%

 
Rating

str. buy

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

We calculate the intrinsic value of CYOU 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, %
  -31.10
  22.10
  20.39
  18.85
  17.47
  16.22
  15.10
  14.09
  13.18
  12.36
  11.62
  10.96
  10.37
  9.83
  9.35
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.68
  6.52
  6.36
  6.23
  6.10
  5.99
  5.89
  5.81
Revenue, $m
  525
  641
  772
  917
  1,077
  1,252
  1,441
  1,644
  1,861
  2,091
  2,334
  2,590
  2,858
  3,139
  3,433
  3,739
  4,057
  4,389
  4,733
  5,091
  5,464
  5,850
  6,252
  6,670
  7,105
  7,557
  8,028
  8,518
  9,028
  9,560
  10,115
Variable operating expenses, $m
 
  504
  606
  720
  845
  982
  1,130
  1,288
  1,458
  1,638
  1,828
  2,025
  2,235
  2,454
  2,684
  2,923
  3,172
  3,431
  3,701
  3,981
  4,272
  4,574
  4,888
  5,215
  5,555
  5,908
  6,276
  6,660
  7,059
  7,475
  7,909
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
  395
  504
  606
  720
  845
  982
  1,130
  1,288
  1,458
  1,638
  1,828
  2,025
  2,235
  2,454
  2,684
  2,923
  3,172
  3,431
  3,701
  3,981
  4,272
  4,574
  4,888
  5,215
  5,555
  5,908
  6,276
  6,660
  7,059
  7,475
  7,909
Operating income, $m
  131
  137
  166
  197
  232
  270
  312
  356
  403
  453
  506
  565
  624
  685
  749
  816
  885
  957
  1,033
  1,111
  1,192
  1,276
  1,364
  1,455
  1,550
  1,648
  1,751
  1,858
  1,969
  2,086
  2,207
EBITDA, $m
  157
  164
  198
  235
  276
  321
  369
  421
  476
  535
  597
  663
  732
  804
  879
  957
  1,039
  1,123
  1,212
  1,303
  1,399
  1,498
  1,600
  1,707
  1,819
  1,934
  2,055
  2,180
  2,311
  2,447
  2,589
Interest expense (income), $m
  5
  0
  0
  4
  9
  14
  19
  25
  32
  39
  46
  54
  62
  70
  79
  88
  98
  108
  119
  130
  141
  153
  165
  178
  191
  205
  220
  235
  250
  266
  283
Earnings before tax, $m
  169
  137
  166
  194
  224
  257
  293
  331
  372
  415
  461
  511
  562
  615
  670
  727
  787
  849
  914
  981
  1,051
  1,123
  1,199
  1,277
  1,358
  1,443
  1,532
  1,624
  1,719
  1,819
  1,923
Tax expense, $m
  22
  37
  45
  52
  60
  69
  79
  89
  100
  112
  124
  138
  152
  166
  181
  196
  212
  229
  247
  265
  284
  303
  324
  345
  367
  390
  414
  438
  464
  491
  519
Net income, $m
  145
  100
  121
  141
  163
  188
  214
  241
  271
  303
  336
  373
  410
  449
  489
  531
  574
  620
  667
  716
  767
  820
  875
  932
  992
  1,054
  1,118
  1,185
  1,255
  1,328
  1,404

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,178
  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
  1,708
  647
  779
  926
  1,087
  1,264
  1,454
  1,659
  1,878
  2,110
  2,355
  2,613
  2,884
  3,168
  3,464
  3,773
  4,094
  4,428
  4,776
  5,138
  5,513
  5,903
  6,309
  6,731
  7,169
  7,626
  8,100
  8,595
  9,110
  9,647
  10,207
Adjusted assets (=assets-cash), $m
  530
  647
  779
  926
  1,087
  1,264
  1,454
  1,659
  1,878
  2,110
  2,355
  2,613
  2,884
  3,168
  3,464
  3,773
  4,094
  4,428
  4,776
  5,138
  5,513
  5,903
  6,309
  6,731
  7,169
  7,626
  8,100
  8,595
  9,110
  9,647
  10,207
Revenue / Adjusted assets
  0.991
  0.991
  0.991
  0.990
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
  0.991
Average production assets, $m
  221
  269
  324
  385
  453
  526
  605
  691
  782
  878
  980
  1,088
  1,201
  1,319
  1,442
  1,570
  1,704
  1,843
  1,988
  2,138
  2,295
  2,457
  2,626
  2,801
  2,984
  3,174
  3,372
  3,577
  3,792
  4,015
  4,248
Working capital, $m
  949
  -279
  -336
  -400
  -470
  -546
  -628
  -717
  -811
  -912
  -1,018
  -1,129
  -1,246
  -1,369
  -1,497
  -1,630
  -1,769
  -1,913
  -2,064
  -2,220
  -2,382
  -2,551
  -2,726
  -2,908
  -3,098
  -3,295
  -3,500
  -3,714
  -3,936
  -4,168
  -4,410
Total debt, $m
  0
  -8
  111
  243
  388
  547
  719
  903
  1,100
  1,309
  1,530
  1,762
  2,006
  2,261
  2,528
  2,805
  3,095
  3,396
  3,709
  4,034
  4,372
  4,723
  5,088
  5,468
  5,862
  6,273
  6,700
  7,145
  7,609
  8,093
  8,597
Total liabilities, $m
  590
  582
  701
  833
  978
  1,137
  1,309
  1,493
  1,690
  1,899
  2,120
  2,352
  2,596
  2,851
  3,118
  3,395
  3,685
  3,986
  4,299
  4,624
  4,962
  5,313
  5,678
  6,058
  6,452
  6,863
  7,290
  7,735
  8,199
  8,683
  9,187
Total equity, $m
  1,118
  65
  78
  93
  109
  126
  145
  166
  188
  211
  236
  261
  288
  317
  346
  377
  409
  443
  478
  514
  551
  590
  631
  673
  717
  763
  810
  859
  911
  965
  1,021
Total liabilities and equity, $m
  1,708
  647
  779
  926
  1,087
  1,263
  1,454
  1,659
  1,878
  2,110
  2,356
  2,613
  2,884
  3,168
  3,464
  3,772
  4,094
  4,429
  4,777
  5,138
  5,513
  5,903
  6,309
  6,731
  7,169
  7,626
  8,100
  8,594
  9,110
  9,648
  10,208
Debt-to-equity ratio
  0.000
  -0.120
  1.420
  2.630
  3.570
  4.330
  4.940
  5.440
  5.860
  6.200
  6.490
  6.740
  6.950
  7.140
  7.300
  7.440
  7.560
  7.670
  7.760
  7.850
  7.930
  8.000
  8.060
  8.120
  8.180
  8.230
  8.270
  8.310
  8.350
  8.390
  8.420
Adjusted equity ratio
  -0.113
  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
  145
  100
  121
  141
  163
  188
  214
  241
  271
  303
  336
  373
  410
  449
  489
  531
  574
  620
  667
  716
  767
  820
  875
  932
  992
  1,054
  1,118
  1,185
  1,255
  1,328
  1,404
Depreciation, amort., depletion, $m
  26
  27
  32
  37
  43
  50
  57
  65
  73
  82
  91
  98
  108
  119
  130
  141
  154
  166
  179
  193
  207
  221
  237
  252
  269
  286
  304
  322
  342
  362
  383
Funds from operations, $m
  200
  127
  153
  179
  207
  238
  271
  306
  344
  385
  427
  471
  518
  567
  619
  672
  728
  786
  846
  909
  974
  1,041
  1,112
  1,185
  1,261
  1,340
  1,422
  1,507
  1,597
  1,690
  1,787
Change in working capital, $m
  6
  -51
  -57
  -63
  -70
  -76
  -82
  -89
  -94
  -100
  -106
  -112
  -117
  -122
  -128
  -133
  -139
  -144
  -150
  -156
  -162
  -169
  -175
  -182
  -189
  -197
  -205
  -214
  -223
  -232
  -242
Cash from operations, $m
  194
  178
  210
  242
  277
  314
  353
  395
  439
  485
  533
  583
  635
  690
  747
  806
  867
  930
  996
  1,065
  1,136
  1,210
  1,287
  1,367
  1,450
  1,537
  1,627
  1,721
  1,819
  1,922
  2,029
Maintenance CAPEX, $m
  0
  -20
  -24
  -29
  -35
  -41
  -47
  -55
  -62
  -70
  -79
  -88
  -98
  -108
  -119
  -130
  -141
  -154
  -166
  -179
  -193
  -207
  -221
  -237
  -252
  -269
  -286
  -304
  -322
  -342
  -362
New CAPEX, $m
  -13
  -49
  -55
  -61
  -67
  -73
  -79
  -85
  -91
  -97
  -102
  -107
  -113
  -118
  -123
  -128
  -134
  -139
  -145
  -150
  -156
  -162
  -169
  -176
  -183
  -190
  -198
  -206
  -214
  -224
  -233
Cash from investing activities, $m
  -5
  -69
  -79
  -90
  -102
  -114
  -126
  -140
  -153
  -167
  -181
  -195
  -211
  -226
  -242
  -258
  -275
  -293
  -311
  -329
  -349
  -369
  -390
  -413
  -435
  -459
  -484
  -510
  -536
  -566
  -595
Free cash flow, $m
  189
  109
  131
  152
  175
  200
  226
  255
  286
  318
  352
  387
  425
  464
  505
  547
  592
  638
  686
  735
  787
  841
  897
  955
  1,015
  1,078
  1,143
  1,212
  1,283
  1,357
  1,434
Issuance/(repayment) of debt, $m
  -147
  -8
  119
  132
  145
  159
  172
  184
  197
  209
  221
  232
  244
  255
  266
  278
  289
  301
  313
  325
  338
  351
  365
  380
  395
  411
  427
  445
  464
  483
  504
Issuance/(repurchase) of shares, $m
  0
  25
  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  
  -147
  17
  119
  132
  145
  159
  172
  184
  197
  209
  221
  232
  244
  255
  266
  278
  289
  301
  313
  325
  338
  351
  365
  380
  395
  411
  427
  445
  464
  483
  504
Total cash flow (excl. dividends), $m
  27
  126
  250
  284
  320
  358
  398
  440
  482
  527
  573
  619
  668
  719
  771
  825
  881
  939
  998
  1,061
  1,125
  1,192
  1,262
  1,334
  1,410
  1,489
  1,571
  1,657
  1,746
  1,840
  1,938
Retained Cash Flow (-), $m
  -89
  -125
  -13
  -15
  -16
  -18
  -19
  -20
  -22
  -23
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -47
  -49
  -52
  -54
  -56
Prev. year cash balance distribution, $m
 
  1,178
  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
 
  1,179
  236
  269
  304
  341
  379
  419
  461
  504
  548
  594
  641
  691
  742
  794
  849
  905
  964
  1,024
  1,087
  1,153
  1,221
  1,292
  1,366
  1,443
  1,523
  1,607
  1,695
  1,786
  1,882
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,130
  216
  234
  250
  264
  275
  283
  288
  289
  287
  282
  274
  263
  249
  233
  216
  197
  177
  158
  138
  119
  101
  85
  70
  56
  44
  34
  26
  19
  14
Current shareholders' claim on cash, %
  100
  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

Changyou.com Limited is an online game developer and operator. The Company is engaged in the development, operation and licensing of online games for personal computers (PCs) and mobile devices. The Company's segments include Online Game segment, which consists primarily of PC games and mobile games; the Platform Channel segment, which consists primarily of online advertising services offered on the 17173.com Website, Internet value-added services (IVAS) offered on the Dolphin Browser and RaidCall and online card and board games offered by MoboTap, and the Cinema Advertising segment, which consists primarily of the acquisition, from operators of movie theaters, and the sale, to advertisers, of pre-film advertising slots, which are advertisements shown before the screening of a movie in a cinema theater. Its online games include a range of genres, including massively multi-player online role-playing games (MMORPGs), third person shooter games (TPSs) and collectible card games (CCGs).

FINANCIAL RATIOS  of  Changyou.com ADR (CYOU)

Valuation Ratios
P/E Ratio 20.3
Price to Sales 5.6
Price to Book 2.6
Price to Tangible Book
Price to Cash Flow 15.2
Price to Free Cash Flow 16.3
Growth Rates
Sales Growth Rate -31.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -63.9%
Cap. Spend. - 3 Yr. Gr. Rate -33%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 35
Management Effectiveness
Return On Assets 8.6%
Ret/ On Assets - 3 Yr. Avg. 7.3%
Return On Total Capital 11.6%
Ret/ On T. Cap. - 3 Yr. Avg. 9.2%
Return On Equity 13.5%
Return On Equity - 3 Yr. Avg. 11.8%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 68.6%
Gross Margin - 3 Yr. Avg. 71.1%
EBITDA Margin 38.1%
EBITDA Margin - 3 Yr. Avg. 27.8%
Operating Margin 24.8%
Oper. Margin - 3 Yr. Avg. 13.5%
Pre-Tax Margin 32.2%
Pre-Tax Margin - 3 Yr. Avg. 20.6%
Net Profit Margin 27.6%
Net Profit Margin - 3 Yr. Avg. 18.4%
Effective Tax Rate 13%
Eff/ Tax Rate - 3 Yr. Avg. 8.2%
Payout Ratio 0%

CYOU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CYOU stock intrinsic value calculation we used $525 million for the last fiscal year's total revenue generated by Changyou.com ADR. The default revenue input number comes from 2016 income statement of Changyou.com ADR. 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 CYOU stock valuation model: a) initial revenue growth rate of 22.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CYOU is calculated based on our internal credit rating of Changyou.com ADR, 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 Changyou.com ADR.
    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 CYOU stock the variable cost ratio is equal to 78.7%.

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 CYOU 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 Changyou.com ADR.

Corporate tax rate of 27% is the nominal tax rate for Changyou.com ADR. 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 CYOU 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 CYOU are equal to 42%.

Life of production assets of 11.1 years is the average useful life of capital assets used in Changyou.com ADR 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 CYOU is equal to -43.6%. 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 - $1118 million for Changyou.com ADR - 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 51.331 million for Changyou.com ADR 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 Changyou.com ADR at the current share price and the inputted number of shares is $1.4 billion.

RELATED COMPANIES Price Int.Val. Rating
NTES Netease ADR 306.05 1,129.09  str.buy
YY YY ADR 128.86 679.16  str.buy
SOHU Sohu.com 34.45 475.80  str.buy
SINA Sina 117.55 476.23  str.buy

COMPANY NEWS

▶ 3 Top Mobile Gaming Stocks to Buy Now   [Feb-12-18 10:33AM  Motley Fool]
▶ Why Changyou.com Limited Stock Lost 15.5% in January   [Feb-09-18 10:55AM  Motley Fool]
▶ Financially Sounds Stocks Selling At A Discount   [Feb-08-18 09:02AM  Simply Wall St.]
▶ Company News For Jan 30, 2018   [Jan-30-18 09:46AM  Zacks]
▶ 3 Stocks Move Heavily in Premarket Monday   [Jan-29-18 02:07PM  GuruFocus.com]
▶ Changyou.Com posts 4Q profit   [05:01AM  Associated Press]
▶ 3 Growth Stocks at Deep-Value Prices   [Jan-11-18 06:03AM  Motley Fool]
▶ January Undervalued Stock Picks   [Jan-05-18 08:02AM  Simply Wall St.]
▶ IBD Rating Upgrades: Changyou.com Shows Improved Price Strength   [Dec-21-17 03:00AM  Investor's Business Daily]
▶ Top Cheap Stocks in November   [Nov-13-17 08:02AM  Simply Wall St.]
▶ 3 Stocks You've Been Ignoring   [Nov-01-17 09:45PM  Motley Fool]
▶ Sohu.com Gets Mixed Up in Q3   [Oct-27-17 04:07PM  Motley Fool]
▶ Changyou.Com reports 3Q loss   [05:01AM  Associated Press]
▶ Corporate News Blog - Changyou Appoints New CFO   [Oct-03-17 07:20AM  ACCESSWIRE]
▶ 5 Strong Buy Tech Stocks for Value Investors   [Sep-20-17 05:37PM  Zacks]
▶ Trade of the Day: Changyou.com Ltd (ADR) (CYOU)   [Aug-22-17 09:08AM  InvestorPlace]
▶ New Strong Buy Stocks for August 18th   [Aug-18-17 07:51AM  Zacks]
▶ Top Ranked Value Stocks to Buy for August 15th   [Aug-15-17 10:22AM  Zacks]
▶ New Strong Buy Stocks for August 11th   [Aug-11-17 06:51AM  Zacks]
▶ 3 Growth Stocks for In-the-Know Investors   [Aug-02-17 05:15PM  Motley Fool]
▶ Sohu.com Stock Hits New Highs After Earnings   [Aug-01-17 10:07AM  Motley Fool]
▶ Changyou.Com posts 2Q profit   [Jul-31-17 11:01PM  Associated Press]
▶ China's Sohu.com Surges On Second-Quarter Sales Beat, Guidance   [04:13PM  Investor's Business Daily]
▶ 3 Stocks Wall Street Wants to Keep Secret   [Jun-26-17 09:45AM  Motley Fool]
▶ ETFs with exposure to Changyou.com Ltd. : May 19, 2017   [May-19-17 01:47PM  Capital Cube]
▶ Five Strong Buys Bucking Market Trends   [May-18-17 07:18PM  Zacks]
▶ ETFs with exposure to Changyou.com Ltd. : May 4, 2017   [May-04-17 03:53PM  Capital Cube]
▶ Sohu.com Stock Tries to Earn Its Way Back   [11:25AM  Motley Fool]
▶ Changyou.Com posts 1Q profit   [05:01AM  Associated Press]
▶ Sohu.com Stock Earns Some Redemption   [01:02PM  Motley Fool]
▶ Sohu.com Stock Earns Some Redemption   [01:02PM  at Motley Fool]
▶ Changyou.Com posts 4Q profit   [08:56AM  Associated Press]
▶ Is Changyou.Com Ltd (ADR) (CYOU) A Good Stock To Buy?   [Dec-04-16 10:28PM  at Insider Monkey]
Financial statements of CYOU
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