Intrinsic value of Dril-Quip - DRQ

Previous Close

$45.45

  Intrinsic Value

$26.48

stock screener

  Rating & Target

sell

-42%

Previous close

$45.45

 
Intrinsic value

$26.48

 
Up/down potential

-42%

 
Rating

sell

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

We calculate the intrinsic value of DRQ 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 1.7

 

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, %
  -36.14
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  539
  550
  562
  577
  593
  611
  631
  652
  676
  701
  727
  756
  787
  820
  854
  891
  930
  972
  1,015
  1,062
  1,110
  1,162
  1,216
  1,273
  1,334
  1,397
  1,464
  1,534
  1,608
  1,686
  1,768
Variable operating expenses, $m
 
  305
  312
  320
  329
  339
  350
  361
  374
  388
  403
  415
  432
  450
  469
  489
  510
  533
  557
  582
  609
  637
  667
  699
  732
  767
  803
  842
  882
  925
  970
Fixed operating expenses, $m
 
  133
  137
  140
  143
  147
  151
  155
  158
  162
  166
  171
  175
  179
  184
  188
  193
  198
  203
  208
  213
  218
  224
  229
  235
  241
  247
  253
  260
  266
  273
Total operating expenses, $m
  426
  438
  449
  460
  472
  486
  501
  516
  532
  550
  569
  586
  607
  629
  653
  677
  703
  731
  760
  790
  822
  855
  891
  928
  967
  1,008
  1,050
  1,095
  1,142
  1,191
  1,243
Operating income, $m
  113
  111
  114
  117
  121
  125
  131
  136
  143
  150
  159
  171
  180
  191
  202
  214
  227
  241
  255
  271
  288
  306
  325
  345
  367
  389
  414
  439
  466
  495
  525
EBITDA, $m
  145
  146
  149
  153
  157
  163
  169
  176
  184
  193
  203
  213
  225
  237
  250
  264
  279
  295
  313
  331
  350
  371
  393
  417
  442
  468
  496
  525
  557
  590
  625
Interest expense (income), $m
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  3
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  7
  7
  8
Earnings before tax, $m
  116
  111
  114
  117
  121
  125
  130
  136
  142
  150
  157
  169
  179
  189
  200
  212
  224
  238
  253
  268
  285
  302
  321
  341
  362
  384
  408
  433
  460
  488
  517
Tax expense, $m
  23
  30
  31
  32
  33
  34
  35
  37
  38
  40
  43
  46
  48
  51
  54
  57
  61
  64
  68
  72
  77
  82
  87
  92
  98
  104
  110
  117
  124
  132
  140
Net income, $m
  93
  81
  83
  85
  88
  91
  95
  99
  104
  109
  115
  124
  131
  138
  146
  155
  164
  174
  184
  196
  208
  221
  234
  249
  264
  280
  298
  316
  335
  356
  378

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  424
  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
  1,461
  1,057
  1,082
  1,109
  1,141
  1,175
  1,213
  1,254
  1,299
  1,347
  1,399
  1,454
  1,513
  1,576
  1,643
  1,714
  1,789
  1,869
  1,953
  2,041
  2,135
  2,234
  2,339
  2,449
  2,564
  2,687
  2,815
  2,950
  3,093
  3,243
  3,400
Adjusted assets (=assets-cash), $m
  1,037
  1,057
  1,082
  1,109
  1,141
  1,175
  1,213
  1,254
  1,299
  1,347
  1,399
  1,454
  1,513
  1,576
  1,643
  1,714
  1,789
  1,869
  1,953
  2,041
  2,135
  2,234
  2,339
  2,449
  2,564
  2,687
  2,815
  2,950
  3,093
  3,243
  3,400
Revenue / Adjusted assets
  0.520
  0.520
  0.519
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
  0.520
Average production assets, $m
  324
  330
  338
  347
  356
  367
  379
  392
  406
  421
  437
  455
  473
  493
  513
  536
  559
  584
  610
  638
  667
  698
  731
  765
  801
  840
  880
  922
  967
  1,013
  1,063
Working capital, $m
  956
  275
  281
  288
  297
  306
  315
  326
  338
  350
  364
  378
  393
  410
  427
  446
  465
  486
  508
  531
  555
  581
  608
  637
  667
  699
  732
  767
  804
  843
  884
Total debt, $m
  0
  2
  4
  7
  10
  14
  18
  22
  26
  31
  36
  42
  48
  54
  61
  68
  76
  84
  92
  101
  111
  121
  131
  142
  154
  166
  179
  193
  207
  223
  238
Total liabilities, $m
  105
  107
  109
  112
  115
  119
  123
  127
  131
  136
  141
  147
  153
  159
  166
  173
  181
  189
  197
  206
  216
  226
  236
  247
  259
  271
  284
  298
  312
  328
  343
Total equity, $m
  1,356
  950
  972
  997
  1,025
  1,056
  1,091
  1,128
  1,168
  1,211
  1,258
  1,307
  1,361
  1,417
  1,477
  1,541
  1,608
  1,680
  1,755
  1,835
  1,920
  2,009
  2,102
  2,201
  2,305
  2,415
  2,531
  2,652
  2,780
  2,915
  3,057
Total liabilities and equity, $m
  1,461
  1,057
  1,081
  1,109
  1,140
  1,175
  1,214
  1,255
  1,299
  1,347
  1,399
  1,454
  1,514
  1,576
  1,643
  1,714
  1,789
  1,869
  1,952
  2,041
  2,136
  2,235
  2,338
  2,448
  2,564
  2,686
  2,815
  2,950
  3,092
  3,243
  3,400
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.010
  0.010
  0.010
  0.020
  0.020
  0.020
  0.030
  0.030
  0.030
  0.040
  0.040
  0.040
  0.040
  0.050
  0.050
  0.050
  0.060
  0.060
  0.060
  0.060
  0.060
  0.070
  0.070
  0.070
  0.070
  0.070
  0.080
  0.080
Adjusted equity ratio
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899
  0.899

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  93
  81
  83
  85
  88
  91
  95
  99
  104
  109
  115
  124
  131
  138
  146
  155
  164
  174
  184
  196
  208
  221
  234
  249
  264
  280
  298
  316
  335
  356
  378
Depreciation, amort., depletion, $m
  32
  34
  35
  36
  37
  38
  39
  40
  41
  43
  44
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  68
  72
  75
  78
  82
  86
  90
  95
  99
Funds from operations, $m
  360
  116
  118
  121
  125
  129
  134
  139
  145
  152
  159
  166
  175
  184
  194
  205
  216
  228
  241
  255
  270
  286
  302
  320
  339
  359
  380
  402
  426
  451
  477
Change in working capital, $m
  113
  5
  6
  7
  8
  9
  10
  11
  12
  13
  13
  14
  15
  16
  17
  18
  20
  21
  22
  23
  24
  26
  27
  29
  30
  32
  33
  35
  37
  39
  41
Cash from operations, $m
  247
  110
  112
  114
  117
  120
  124
  128
  134
  139
  146
  152
  159
  168
  177
  186
  197
  208
  220
  232
  246
  260
  275
  292
  309
  327
  346
  367
  389
  412
  436
Maintenance CAPEX, $m
  0
  -30
  -31
  -32
  -32
  -33
  -34
  -35
  -37
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -62
  -65
  -68
  -72
  -75
  -78
  -82
  -86
  -90
  -95
New CAPEX, $m
  -26
  -6
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -20
  -21
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -42
  -44
  -47
  -49
Cash from investing activities, $m
  -158
  -36
  -39
  -41
  -42
  -44
  -46
  -48
  -51
  -53
  -55
  -58
  -60
  -64
  -67
  -70
  -73
  -77
  -81
  -85
  -89
  -93
  -98
  -102
  -108
  -113
  -118
  -124
  -130
  -137
  -144
Free cash flow, $m
  89
  74
  73
  74
  74
  76
  78
  80
  83
  86
  90
  94
  98
  104
  110
  116
  123
  131
  139
  147
  157
  167
  177
  189
  201
  214
  228
  243
  258
  275
  292
Issuance/(repayment) of debt, $m
  0
  2
  2
  3
  3
  3
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
Issuance/(repurchase) of shares, $m
  -22
  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  
  -22
  2
  2
  3
  3
  3
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
Total cash flow (excl. dividends), $m
  42
  75
  76
  76
  78
  79
  82
  84
  88
  91
  95
  99
  104
  110
  116
  123
  131
  139
  147
  156
  166
  177
  188
  200
  213
  226
  241
  256
  272
  290
  308
Retained Cash Flow (-), $m
  -32
  -18
  -22
  -25
  -28
  -31
  -34
  -37
  -40
  -43
  -46
  -50
  -53
  -56
  -60
  -64
  -68
  -71
  -76
  -80
  -84
  -89
  -94
  -99
  -104
  -110
  -116
  -122
  -128
  -135
  -142
Prev. year cash balance distribution, $m
 
  424
  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
 
  481
  54
  51
  50
  48
  47
  47
  47
  48
  49
  50
  51
  54
  56
  60
  63
  67
  72
  77
  82
  88
  94
  101
  109
  117
  125
  135
  144
  155
  166
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
 
  461
  49
  45
  41
  37
  34
  32
  30
  28
  26
  24
  22
  20
  19
  17
  16
  15
  13
  12
  10
  9
  8
  7
  6
  5
  4
  3
  2
  2
  1
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

Dril-Quip, Inc. (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company's operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore. Its equipment is suited for use in deepwater, harsh environments and service applications. Its principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors and diverters. The Company has manufacturing facilities in approximately three of its headquarter locations, as well as in Macae, Brazil.

FINANCIAL RATIOS  of  Dril-Quip (DRQ)

Valuation Ratios
P/E Ratio 18.3
Price to Sales 3.2
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 6.9
Price to Free Cash Flow 7.7
Growth Rates
Sales Growth Rate -36.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.7%
Cap. Spend. - 3 Yr. Gr. Rate -9.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 6.4%
Ret/ On Assets - 3 Yr. Avg. 11.5%
Return On Total Capital 6.9%
Ret/ On T. Cap. - 3 Yr. Avg. 12.9%
Return On Equity 6.9%
Return On Equity - 3 Yr. Avg. 12.9%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 39%
Gross Margin - 3 Yr. Avg. 43.1%
EBITDA Margin 27.5%
EBITDA Margin - 3 Yr. Avg. 31.3%
Operating Margin 21%
Oper. Margin - 3 Yr. Avg. 26.8%
Pre-Tax Margin 21.5%
Pre-Tax Margin - 3 Yr. Avg. 27%
Net Profit Margin 17.3%
Net Profit Margin - 3 Yr. Avg. 20.8%
Effective Tax Rate 19.8%
Eff/ Tax Rate - 3 Yr. Avg. 22.7%
Payout Ratio 0%

DRQ stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DRQ stock intrinsic value calculation we used $539 million for the last fiscal year's total revenue generated by Dril-Quip. The default revenue input number comes from 2016 income statement of Dril-Quip. 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 DRQ stock valuation model: a) initial revenue growth rate of 2% 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 DRQ is calculated based on our internal credit rating of Dril-Quip, 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 Dril-Quip.
    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 DRQ stock the variable cost ratio is equal to 55.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $130 million in the base year in the intrinsic value calculation for DRQ 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 Dril-Quip.

Corporate tax rate of 27% is the nominal tax rate for Dril-Quip. 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 DRQ 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 DRQ are equal to 60.1%.

Life of production assets of 10.7 years is the average useful life of capital assets used in Dril-Quip 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 DRQ is equal to 50%. 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 - $1356 million for Dril-Quip - 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 37.717 million for Dril-Quip 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 Dril-Quip at the current share price and the inputted number of shares is $1.7 billion.

RELATED COMPANIES Price Int.Val. Rating
NOV National Oilwe 32.59 5.18  str.sell
OIS Oil States Int 24.65 4.59  str.sell
FET Forum Energy T 14.05 1.51  str.sell
TESO Tesco 3.95 1.66  str.sell

COMPANY NEWS

▶ Oilfield Services Gainers: FTK, FTI, DRQ, RES, and NOV   [Nov-30-17 07:36AM  Market Realist]
▶ ETFs with exposure to Dril-Quip, Inc. : November 29, 2017   [Nov-29-17 11:29AM  Capital Cube]
▶ ETFs with exposure to Dril-Quip, Inc. : November 14, 2017   [Nov-14-17 02:15PM  Capital Cube]
▶ Dril-Quip reports 3Q loss   [Oct-27-17 06:09AM  Associated Press]
▶ Dril-Quip Inc (DRQ): Immense Growth Potential?   [Oct-25-17 09:28AM  Simply Wall St.]
▶ ETFs with exposure to Dril-Quip, Inc. : October 18, 2017   [Oct-18-17 09:42AM  Capital Cube]
▶ Who Were the Biggest Oilfield Services Gainers Last Week?   [Sep-12-17 10:06AM  Market Realist]
▶ Dril-Quip Updates On Impact Of Hurricane Harvey   [Sep-06-17 06:00AM  PR Newswire]
▶ ETFs with exposure to Dril-Quip, Inc. : August 14, 2017   [Aug-14-17 04:30PM  Capital Cube]
▶ Mario Gabelli's Top 5 New Buys   [Aug-07-17 12:59PM  GuruFocus.com]
▶ Dril-Quip beats 2Q profit forecasts   [Jul-28-17 08:23PM  Associated Press]
▶ Dril-Quip, Inc. Value Analysis (NYSE:DRQ) : June 14, 2017   [Jun-14-17 02:02PM  Capital Cube]
▶ ETFs with exposure to Dril-Quip, Inc. : May 1, 2017   [May-01-17 03:52PM  Capital Cube]
▶ Dril-Quip beats Street 1Q forecasts   [Apr-27-17 06:26AM  Associated Press]
▶ [$$] Oil Services: One Pick, Two Pans   [Mar-01-17 02:57PM  Barrons.com]
▶ Dril-Quip misses 4Q revenue forecasts   [06:37AM  Associated Press]
▶ Why Investors Are Paying a Premium for Core Laboratories   [Feb-25-17 01:49PM  at Motley Fool]
▶ [$$] Stockpickers' Kingdom   [Dec-10-16 12:01AM  at Barrons.com]
▶ Is Dril-Quip, Inc. (DRQ) A Good Stock To Buy?   [Nov-27-16 03:36PM  at Insider Monkey]
▶ Dril-Quip Completes Acquisition Of TIW Corporation   [Nov-11-16 06:00AM  PR Newswire]
Financial statements of DRQ
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.