Intrinsic value of Discovery Communications Series C - DISCK

Previous Close

$22.60

  Intrinsic Value

$62.99

stock screener

  Rating & Target

str. buy

+179%

Previous close

$22.60

 
Intrinsic value

$62.99

 
Up/down potential

+179%

 
Rating

str. buy

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

We calculate the intrinsic value of DISCK 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.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Discovery Communications Series C (DISCK) stock.

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, %
  1.61
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
  5.17
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
Revenue, $m
  6,497
  6,893
  7,306
  7,737
  8,186
  8,654
  9,143
  9,653
  10,187
  10,744
  11,327
  11,937
  12,575
  13,243
  13,942
  14,674
  15,441
  16,245
  17,087
  17,970
  18,895
  19,865
  20,882
  21,949
  23,067
  24,241
  25,472
  26,764
  28,119
  29,541
  31,034
Variable operating expenses, $m
 
  4,707
  4,941
  5,185
  5,439
  5,704
  5,981
  6,270
  6,572
  6,888
  7,218
  6,759
  7,121
  7,499
  7,895
  8,309
  8,744
  9,199
  9,676
  10,175
  10,699
  11,248
  11,824
  12,428
  13,062
  13,727
  14,424
  15,155
  15,923
  16,728
  17,573
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
  4,501
  4,707
  4,941
  5,185
  5,439
  5,704
  5,981
  6,270
  6,572
  6,888
  7,218
  6,759
  7,121
  7,499
  7,895
  8,309
  8,744
  9,199
  9,676
  10,175
  10,699
  11,248
  11,824
  12,428
  13,062
  13,727
  14,424
  15,155
  15,923
  16,728
  17,573
Operating income, $m
  1,996
  2,186
  2,365
  2,552
  2,746
  2,950
  3,162
  3,383
  3,615
  3,856
  4,109
  5,178
  5,455
  5,744
  6,047
  6,365
  6,698
  7,046
  7,411
  7,794
  8,196
  8,616
  9,058
  9,520
  10,006
  10,515
  11,049
  11,609
  12,197
  12,814
  13,461
EBITDA, $m
  4,091
  3,720
  3,943
  4,176
  4,418
  4,671
  4,934
  5,210
  5,498
  5,799
  6,114
  6,443
  6,787
  7,147
  7,525
  7,920
  8,334
  8,768
  9,222
  9,698
  10,198
  10,721
  11,270
  11,846
  12,450
  13,083
  13,748
  14,445
  15,176
  15,944
  16,749
Interest expense (income), $m
  343
  345
  373
  402
  432
  464
  497
  531
  567
  605
  644
  685
  728
  773
  820
  870
  921
  975
  1,032
  1,091
  1,154
  1,219
  1,287
  1,359
  1,434
  1,513
  1,596
  1,683
  1,774
  1,870
  1,970
Earnings before tax, $m
  1,671
  1,841
  1,993
  2,150
  2,314
  2,486
  2,665
  2,852
  3,047
  3,252
  3,465
  4,493
  4,726
  4,971
  5,227
  5,495
  5,776
  6,071
  6,379
  6,703
  7,042
  7,397
  7,770
  8,161
  8,571
  9,001
  9,453
  9,926
  10,423
  10,944
  11,491
Tax expense, $m
  453
  497
  538
  581
  625
  671
  720
  770
  823
  878
  936
  1,213
  1,276
  1,342
  1,411
  1,484
  1,560
  1,639
  1,722
  1,810
  1,901
  1,997
  2,098
  2,204
  2,314
  2,430
  2,552
  2,680
  2,814
  2,955
  3,103
Net income, $m
  1,194
  1,344
  1,455
  1,570
  1,690
  1,815
  1,945
  2,082
  2,225
  2,374
  2,530
  3,280
  3,450
  3,629
  3,816
  4,012
  4,217
  4,432
  4,657
  4,893
  5,141
  5,400
  5,672
  5,958
  6,257
  6,571
  6,900
  7,246
  7,609
  7,989
  8,389

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  300
  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
  15,672
  16,296
  17,272
  18,290
  19,351
  20,458
  21,614
  22,821
  24,082
  25,400
  26,779
  28,220
  29,729
  31,308
  32,960
  34,691
  36,505
  38,404
  40,395
  42,481
  44,669
  46,962
  49,366
  51,888
  54,533
  57,308
  60,218
  63,272
  66,476
  69,838
  73,366
Adjusted assets (=assets-cash), $m
  15,372
  16,296
  17,272
  18,290
  19,351
  20,458
  21,614
  22,821
  24,082
  25,400
  26,779
  28,220
  29,729
  31,308
  32,960
  34,691
  36,505
  38,404
  40,395
  42,481
  44,669
  46,962
  49,366
  51,888
  54,533
  57,308
  60,218
  63,272
  66,476
  69,838
  73,366
Revenue / Adjusted assets
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
  0.423
Average production assets, $m
  3,925
  4,164
  4,413
  4,673
  4,944
  5,227
  5,522
  5,831
  6,153
  6,490
  6,842
  7,210
  7,595
  7,999
  8,421
  8,863
  9,327
  9,812
  10,321
  10,854
  11,412
  11,998
  12,613
  13,257
  13,933
  14,642
  15,385
  16,165
  16,984
  17,843
  18,744
Working capital, $m
  941
  765
  811
  859
  909
  961
  1,015
  1,072
  1,131
  1,193
  1,257
  1,325
  1,396
  1,470
  1,548
  1,629
  1,714
  1,803
  1,897
  1,995
  2,097
  2,205
  2,318
  2,436
  2,560
  2,691
  2,827
  2,971
  3,121
  3,279
  3,445
Total debt, $m
  7,923
  8,467
  9,129
  9,819
  10,538
  11,289
  12,072
  12,891
  13,746
  14,639
  15,574
  16,551
  17,574
  18,645
  19,765
  20,939
  22,168
  23,456
  24,806
  26,220
  27,703
  29,258
  30,888
  32,598
  34,391
  36,273
  38,246
  40,316
  42,489
  44,768
  47,160
Total liabilities, $m
  10,505
  11,049
  11,711
  12,401
  13,120
  13,871
  14,654
  15,473
  16,328
  17,221
  18,156
  19,133
  20,156
  21,227
  22,347
  23,521
  24,750
  26,038
  27,388
  28,802
  30,285
  31,840
  33,470
  35,180
  36,973
  38,855
  40,828
  42,898
  45,071
  47,350
  49,742
Total equity, $m
  5,167
  5,247
  5,562
  5,889
  6,231
  6,588
  6,960
  7,348
  7,754
  8,179
  8,623
  9,087
  9,573
  10,081
  10,613
  11,171
  11,754
  12,366
  13,007
  13,679
  14,383
  15,122
  15,896
  16,708
  17,560
  18,453
  19,390
  20,374
  21,405
  22,488
  23,624
Total liabilities and equity, $m
  15,672
  16,296
  17,273
  18,290
  19,351
  20,459
  21,614
  22,821
  24,082
  25,400
  26,779
  28,220
  29,729
  31,308
  32,960
  34,692
  36,504
  38,404
  40,395
  42,481
  44,668
  46,962
  49,366
  51,888
  54,533
  57,308
  60,218
  63,272
  66,476
  69,838
  73,366
Debt-to-equity ratio
  1.533
  1.610
  1.640
  1.670
  1.690
  1.710
  1.730
  1.750
  1.770
  1.790
  1.810
  1.820
  1.840
  1.850
  1.860
  1.870
  1.890
  1.900
  1.910
  1.920
  1.930
  1.930
  1.940
  1.950
  1.960
  1.970
  1.970
  1.980
  1.980
  1.990
  2.000
Adjusted equity ratio
  0.317
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322
  0.322

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,194
  1,344
  1,455
  1,570
  1,690
  1,815
  1,945
  2,082
  2,225
  2,374
  2,530
  3,280
  3,450
  3,629
  3,816
  4,012
  4,217
  4,432
  4,657
  4,893
  5,141
  5,400
  5,672
  5,958
  6,257
  6,571
  6,900
  7,246
  7,609
  7,989
  8,389
Depreciation, amort., depletion, $m
  2,095
  1,534
  1,578
  1,624
  1,671
  1,721
  1,773
  1,827
  1,883
  1,943
  2,004
  1,265
  1,333
  1,403
  1,477
  1,555
  1,636
  1,721
  1,811
  1,904
  2,002
  2,105
  2,213
  2,326
  2,444
  2,569
  2,699
  2,836
  2,980
  3,130
  3,289
Funds from operations, $m
  -705
  2,878
  3,033
  3,193
  3,361
  3,536
  3,718
  3,909
  4,108
  4,316
  4,534
  4,544
  4,783
  5,032
  5,293
  5,567
  5,853
  6,153
  6,468
  6,797
  7,143
  7,505
  7,885
  8,283
  8,701
  9,140
  9,600
  10,082
  10,588
  11,120
  11,677
Change in working capital, $m
  -2,078
  44
  46
  48
  50
  52
  54
  57
  59
  62
  65
  68
  71
  74
  78
  81
  85
  89
  93
  98
  103
  108
  113
  118
  124
  130
  137
  143
  150
  158
  166
Cash from operations, $m
  1,373
  2,834
  2,987
  3,146
  3,311
  3,484
  3,664
  3,852
  4,049
  4,254
  4,469
  4,477
  4,712
  4,958
  5,216
  5,485
  5,768
  6,064
  6,374
  6,699
  7,040
  7,397
  7,772
  8,165
  8,577
  9,009
  9,463
  9,939
  10,438
  10,962
  11,511
Maintenance CAPEX, $m
  0
  -689
  -730
  -774
  -820
  -867
  -917
  -969
  -1,023
  -1,079
  -1,139
  -1,200
  -1,265
  -1,333
  -1,403
  -1,477
  -1,555
  -1,636
  -1,721
  -1,811
  -1,904
  -2,002
  -2,105
  -2,213
  -2,326
  -2,444
  -2,569
  -2,699
  -2,836
  -2,980
  -3,130
New CAPEX, $m
  -88
  -239
  -249
  -260
  -271
  -283
  -295
  -308
  -322
  -337
  -352
  -368
  -385
  -403
  -422
  -442
  -463
  -485
  -509
  -533
  -559
  -586
  -614
  -644
  -676
  -709
  -744
  -780
  -819
  -859
  -901
Cash from investing activities, $m
  -256
  -928
  -979
  -1,034
  -1,091
  -1,150
  -1,212
  -1,277
  -1,345
  -1,416
  -1,491
  -1,568
  -1,650
  -1,736
  -1,825
  -1,919
  -2,018
  -2,121
  -2,230
  -2,344
  -2,463
  -2,588
  -2,719
  -2,857
  -3,002
  -3,153
  -3,313
  -3,479
  -3,655
  -3,839
  -4,031
Free cash flow, $m
  1,117
  1,907
  2,007
  2,111
  2,220
  2,333
  2,452
  2,575
  2,704
  2,838
  2,978
  2,908
  3,062
  3,222
  3,390
  3,566
  3,750
  3,942
  4,144
  4,356
  4,577
  4,809
  5,053
  5,308
  5,576
  5,856
  6,151
  6,459
  6,783
  7,123
  7,480
Issuance/(repayment) of debt, $m
  289
  626
  662
  690
  719
  751
  784
  818
  855
  894
  934
  977
  1,023
  1,070
  1,121
  1,174
  1,229
  1,288
  1,350
  1,415
  1,483
  1,555
  1,630
  1,710
  1,793
  1,881
  1,973
  2,070
  2,172
  2,279
  2,392
Issuance/(repurchase) of shares, $m
  -1,431
  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 from financing (excl. dividends), $m  
  -1,177
  626
  662
  690
  719
  751
  784
  818
  855
  894
  934
  977
  1,023
  1,070
  1,121
  1,174
  1,229
  1,288
  1,350
  1,415
  1,483
  1,555
  1,630
  1,710
  1,793
  1,881
  1,973
  2,070
  2,172
  2,279
  2,392
Total cash flow (excl. dividends), $m
  -90
  2,533
  2,669
  2,801
  2,940
  3,084
  3,235
  3,393
  3,559
  3,732
  3,913
  3,886
  4,084
  4,292
  4,511
  4,739
  4,979
  5,230
  5,494
  5,770
  6,060
  6,364
  6,683
  7,018
  7,369
  7,737
  8,124
  8,530
  8,956
  9,403
  9,872
Retained Cash Flow (-), $m
  284
  -298
  -314
  -328
  -342
  -357
  -372
  -389
  -406
  -424
  -444
  -464
  -486
  -508
  -532
  -557
  -584
  -612
  -641
  -672
  -704
  -738
  -774
  -812
  -852
  -893
  -937
  -983
  -1,032
  -1,083
  -1,136
Prev. year cash balance distribution, $m
 
  218
  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
 
  2,452
  2,355
  2,474
  2,598
  2,728
  2,863
  3,005
  3,153
  3,307
  3,469
  3,421
  3,599
  3,784
  3,978
  4,182
  4,395
  4,619
  4,853
  5,098
  5,356
  5,626
  5,909
  6,206
  6,517
  6,844
  7,187
  7,546
  7,924
  8,320
  8,736
Discount rate, %
 
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.12
  16.93
  17.78
  18.67
  19.60
  20.58
  21.61
  22.69
  23.82
  25.01
  26.26
  27.58
PV of cash for distribution, $m
 
  2,298
  2,055
  1,998
  1,927
  1,844
  1,750
  1,646
  1,533
  1,414
  1,291
  1,095
  979
  864
  752
  646
  546
  454
  371
  298
  235
  181
  137
  101
  73
  51
  35
  24
  15
  10
  6
Current shareholders' claim on cash, %
  100
  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
  100.0

Discovery Communications, Inc. (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S. Networks, which consists principally of domestic television networks and digital content services; International Networks, consisting primarily of international television networks and digital content services, and Education and Other, which consists principally of curriculum-based product and service offerings, and production studios. The Company's portfolio of networks includes television brands, such as Discovery Channel, Animal Planet, ID, Velocity (known as Turbo outside of the United States) and Eurosport. It is also engaged in extending content distribution across various platforms, including brand-aligned Websites, Web-native networks and online streaming.

FINANCIAL RATIOS  of  Discovery Communications Series C (DISCK)

Valuation Ratios
P/E Ratio 7.4
Price to Sales 1.4
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 6.4
Price to Free Cash Flow 6.9
Growth Rates
Sales Growth Rate 1.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -14.6%
Cap. Spend. - 3 Yr. Gr. Rate -5.2%
Financial Strength
Quick Ratio 4
Current Ratio 0.2
LT Debt to Equity 151.8%
Total Debt to Equity 153.3%
Interest Coverage 6
Management Effectiveness
Return On Assets 9.2%
Ret/ On Assets - 3 Yr. Avg. 8.6%
Return On Total Capital 9.1%
Ret/ On T. Cap. - 3 Yr. Avg. 8.7%
Return On Equity 22.5%
Return On Equity - 3 Yr. Avg. 20.2%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 62.6%
Gross Margin - 3 Yr. Avg. 64%
EBITDA Margin 63.2%
EBITDA Margin - 3 Yr. Avg. 62.5%
Operating Margin 30.7%
Oper. Margin - 3 Yr. Avg. 31.6%
Pre-Tax Margin 25.7%
Pre-Tax Margin - 3 Yr. Avg. 26%
Net Profit Margin 18.4%
Net Profit Margin - 3 Yr. Avg. 17.6%
Effective Tax Rate 27.1%
Eff/ Tax Rate - 3 Yr. Avg. 31.6%
Payout Ratio 0%

DISCK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DISCK stock intrinsic value calculation we used $6497 million for the last fiscal year's total revenue generated by Discovery Communications Series C. The default revenue input number comes from 2016 income statement of Discovery Communications Series C. 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 DISCK stock valuation model: a) initial revenue growth rate of 6.1% 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 6.7%, whose default value for DISCK is calculated based on our internal credit rating of Discovery Communications Series C, 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 Discovery Communications Series C.
    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 DISCK stock the variable cost ratio is equal to 69%.

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 DISCK 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 4.4% for Discovery Communications Series C.

Corporate tax rate of 27% is the nominal tax rate for Discovery Communications Series C. 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 DISCK 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 DISCK are equal to 60.4%.

Life of production assets of 5.7 years is the average useful life of capital assets used in Discovery Communications Series C 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 DISCK is equal to 11.1%. 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 - $5167 million for Discovery Communications Series C - 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 391.12 million for Discovery Communications Series C 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 Discovery Communications Series C at the current share price and the inputted number of shares is $8.8 billion.

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COMPANY NEWS

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▶ Opening Bell, January 24, 2018   [Jan-24-18 09:29AM  CNBC Videos]
▶ Discovery Has Widespread Appeal   [07:00AM  Morningstar]
▶ Discovery Communications to move global HQ to New York   [Jan-09-18 05:23PM  Associated Press]
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▶ Discovery directors buy up more shares, as another exec steps down   [Dec-15-17 03:06PM  American City Business Journals]
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▶ Guy's Fast Pitch: DISCA   [Dec-06-17 11:11AM  CNBC Videos]
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▶ ESPN is laying off 150 people   [10:44AM  Yahoo Finance Video]
▶ New Strong Sell Stocks for November 27th   [Nov-27-17 09:31AM  Zacks]
▶ Disney Exec takes leave after 'misstep with employees'   [Nov-22-17 11:29AM  Yahoo Finance Video]
▶ Former Obama admin official battles to get Weinstein Company   [Nov-20-17 11:58AM  Yahoo Finance Video]
▶ Democrats notch a big victory against Trump   [Nov-08-17 08:47AM  Yahoo Finance]
▶ Disney, 21st Century Fox held talks over assets   [Nov-07-17 10:35AM  Yahoo Finance Video]
▶ Discovery Communications Fell on November 2   [07:30AM  Market Realist]
Financial statements of DISCK
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