Intrinsic value of Ebix - EBIX

Previous Close

$49.75

  Intrinsic Value

$215.43

stock screener

  Rating & Target

str. buy

+333%

Previous close

$49.75

 
Intrinsic value

$215.43

 
Up/down potential

+333%

 
Rating

str. buy

We calculate the intrinsic value of EBIX 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 0001), $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 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  42.60
  38.84
  35.46
  32.41
  29.67
  27.20
  24.98
  22.98
  21.19
  19.57
  18.11
  16.80
  15.62
  14.56
  13.60
  12.74
  11.97
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
Revenue, $m
  519
  721
  976
  1,292
  1,676
  2,132
  2,664
  3,277
  3,971
  4,748
  5,608
  6,550
  7,573
  8,676
  9,856
  11,111
  12,441
  13,843
  15,317
  16,860
  18,474
  20,158
  21,912
  23,738
  25,637
  27,611
  29,662
  31,794
  34,009
  36,312
Variable operating expenses, $m
  313
  404
  521
  665
  839
  1,047
  1,290
  1,568
  1,884
  2,238
  2,553
  2,982
  3,448
  3,950
  4,488
  5,059
  5,665
  6,303
  6,974
  7,677
  8,412
  9,179
  9,977
  10,809
  11,673
  12,572
  13,506
  14,477
  15,485
  16,534
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
  313
  404
  521
  665
  839
  1,047
  1,290
  1,568
  1,884
  2,238
  2,553
  2,982
  3,448
  3,950
  4,488
  5,059
  5,665
  6,303
  6,974
  7,677
  8,412
  9,179
  9,977
  10,809
  11,673
  12,572
  13,506
  14,477
  15,485
  16,534
Operating income, $m
  206
  316
  455
  628
  837
  1,085
  1,375
  1,708
  2,087
  2,510
  3,054
  3,568
  4,125
  4,725
  5,368
  6,052
  6,776
  7,540
  8,342
  9,183
  10,062
  10,979
  11,935
  12,929
  13,964
  15,039
  16,156
  17,317
  18,524
  19,778
EBITDA, $m
  300
  416
  564
  747
  968
  1,231
  1,539
  1,893
  2,294
  2,743
  3,239
  3,783
  4,374
  5,011
  5,693
  6,418
  7,186
  7,996
  8,847
  9,739
  10,671
  11,644
  12,657
  13,712
  14,809
  15,949
  17,134
  18,365
  19,645
  20,975
Interest expense (income), $m
  7
  22
  36
  55
  78
  108
  143
  185
  234
  290
  354
  426
  505
  592
  686
  788
  897
  1,012
  1,135
  1,264
  1,400
  1,542
  1,691
  1,846
  2,008
  2,176
  2,351
  2,533
  2,722
  2,918
  3,122
Earnings before tax, $m
  184
  280
  400
  549
  729
  942
  1,190
  1,474
  1,796
  2,155
  2,628
  3,062
  3,533
  4,039
  4,580
  5,155
  5,764
  6,405
  7,078
  7,783
  8,520
  9,288
  10,089
  10,922
  11,788
  12,688
  13,623
  14,595
  15,605
  16,655
Tax expense, $m
  50
  76
  108
  148
  197
  254
  321
  398
  485
  582
  710
  827
  954
  1,091
  1,237
  1,392
  1,556
  1,729
  1,911
  2,102
  2,300
  2,508
  2,724
  2,949
  3,183
  3,426
  3,678
  3,941
  4,213
  4,497
Net income, $m
  135
  204
  292
  401
  532
  688
  869
  1,076
  1,311
  1,573
  1,919
  2,235
  2,579
  2,948
  3,343
  3,763
  4,208
  4,676
  5,167
  5,682
  6,220
  6,781
  7,365
  7,973
  8,605
  9,262
  9,945
  10,654
  11,392
  12,158

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
  1,587
  2,204
  2,985
  3,953
  5,125
  6,519
  8,148
  10,021
  12,144
  14,520
  17,150
  20,031
  23,159
  26,531
  30,139
  33,979
  38,046
  42,334
  46,840
  51,561
  56,496
  61,645
  67,010
  72,593
  78,400
  84,436
  90,709
  97,228
  104,003
  111,045
Adjusted assets (=assets-cash), $m
  1,587
  2,204
  2,985
  3,953
  5,125
  6,519
  8,148
  10,021
  12,144
  14,520
  17,150
  20,031
  23,159
  26,531
  30,139
  33,979
  38,046
  42,334
  46,840
  51,561
  56,496
  61,645
  67,010
  72,593
  78,400
  84,436
  90,709
  97,228
  104,003
  111,045
Revenue / Adjusted assets
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
  0.327
Average production assets, $m
  513
  713
  965
  1,278
  1,658
  2,108
  2,635
  3,241
  3,927
  4,696
  5,546
  6,478
  7,490
  8,580
  9,747
  10,989
  12,304
  13,691
  15,148
  16,675
  18,271
  19,936
  21,671
  23,477
  25,355
  27,307
  29,336
  31,444
  33,635
  35,912
Working capital, $m
  51
  71
  97
  128
  166
  211
  264
  324
  393
  470
  555
  648
  750
  859
  976
  1,100
  1,232
  1,370
  1,516
  1,669
  1,829
  1,996
  2,169
  2,350
  2,538
  2,733
  2,937
  3,148
  3,367
  3,595
Total debt, $m
  673
  1,017
  1,453
  1,993
  2,647
  3,425
  4,334
  5,379
  6,564
  7,890
  9,357
  10,965
  12,710
  14,592
  16,605
  18,748
  21,017
  23,410
  25,924
  28,558
  31,312
  34,185
  37,179
  40,295
  43,535
  46,903
  50,403
  54,041
  57,821
  61,751
Total liabilities, $m
  886
  1,230
  1,666
  2,206
  2,860
  3,638
  4,547
  5,592
  6,776
  8,102
  9,569
  11,177
  12,923
  14,804
  16,818
  18,960
  21,230
  23,622
  26,137
  28,771
  31,525
  34,398
  37,391
  40,507
  43,747
  47,115
  50,616
  54,253
  58,034
  61,963
Total equity, $m
  702
  974
  1,319
  1,747
  2,265
  2,882
  3,601
  4,429
  5,368
  6,418
  7,580
  8,854
  10,236
  11,727
  13,322
  15,019
  16,816
  18,712
  20,703
  22,790
  24,971
  27,247
  29,618
  32,086
  34,653
  37,321
  40,094
  42,975
  45,969
  49,082
Total liabilities and equity, $m
  1,588
  2,204
  2,985
  3,953
  5,125
  6,520
  8,148
  10,021
  12,144
  14,520
  17,149
  20,031
  23,159
  26,531
  30,140
  33,979
  38,046
  42,334
  46,840
  51,561
  56,496
  61,645
  67,009
  72,593
  78,400
  84,436
  90,710
  97,228
  104,003
  111,045
Debt-to-equity ratio
  0.960
  1.040
  1.100
  1.140
  1.170
  1.190
  1.200
  1.210
  1.220
  1.230
  1.230
  1.240
  1.240
  1.240
  1.250
  1.250
  1.250
  1.250
  1.250
  1.250
  1.250
  1.250
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
  1.260
Adjusted equity ratio
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  135
  204
  292
  401
  532
  688
  869
  1,076
  1,311
  1,573
  1,919
  2,235
  2,579
  2,948
  3,343
  3,763
  4,208
  4,676
  5,167
  5,682
  6,220
  6,781
  7,365
  7,973
  8,605
  9,262
  9,945
  10,654
  11,392
  12,158
Depreciation, amort., depletion, $m
  93
  100
  108
  119
  132
  147
  164
  184
  207
  233
  185
  216
  250
  286
  325
  366
  410
  456
  505
  556
  609
  665
  722
  783
  845
  910
  978
  1,048
  1,121
  1,197
Funds from operations, $m
  228
  304
  401
  520
  664
  834
  1,033
  1,261
  1,518
  1,806
  2,104
  2,451
  2,829
  3,234
  3,668
  4,130
  4,618
  5,132
  5,672
  6,238
  6,829
  7,445
  8,087
  8,755
  9,450
  10,172
  10,923
  11,703
  12,513
  13,356
Change in working capital, $m
  15
  20
  25
  31
  38
  45
  53
  61
  69
  77
  85
  93
  101
  109
  117
  124
  132
  139
  146
  153
  160
  167
  174
  181
  188
  195
  203
  211
  219
  228
Cash from operations, $m
  213
  284
  375
  489
  626
  789
  980
  1,200
  1,450
  1,729
  2,018
  2,358
  2,727
  3,125
  3,552
  4,005
  4,486
  4,993
  5,526
  6,085
  6,669
  7,278
  7,914
  8,575
  9,262
  9,977
  10,720
  11,492
  12,294
  13,128
Maintenance CAPEX, $m
  -12
  -17
  -24
  -32
  -43
  -55
  -70
  -88
  -108
  -131
  -157
  -185
  -216
  -250
  -286
  -325
  -366
  -410
  -456
  -505
  -556
  -609
  -665
  -722
  -783
  -845
  -910
  -978
  -1,048
  -1,121
New CAPEX, $m
  -153
  -199
  -253
  -313
  -379
  -451
  -527
  -606
  -687
  -768
  -850
  -932
  -1,012
  -1,090
  -1,167
  -1,242
  -1,315
  -1,387
  -1,457
  -1,527
  -1,596
  -1,665
  -1,735
  -1,806
  -1,878
  -1,952
  -2,029
  -2,108
  -2,191
  -2,277
Cash from investing activities, $m
  -165
  -216
  -277
  -345
  -422
  -506
  -597
  -694
  -795
  -899
  -1,007
  -1,117
  -1,228
  -1,340
  -1,453
  -1,567
  -1,681
  -1,797
  -1,913
  -2,032
  -2,152
  -2,274
  -2,400
  -2,528
  -2,661
  -2,797
  -2,939
  -3,086
  -3,239
  -3,398
Free cash flow, $m
  47
  68
  99
  143
  204
  283
  383
  507
  655
  830
  1,012
  1,242
  1,500
  1,785
  2,098
  2,438
  2,805
  3,196
  3,613
  4,053
  4,517
  5,004
  5,514
  6,046
  6,602
  7,180
  7,781
  8,406
  9,055
  9,729
Issuance/(repayment) of debt, $m
  264
  344
  436
  540
  654
  778
  909
  1,045
  1,185
  1,326
  1,467
  1,608
  1,746
  1,881
  2,014
  2,143
  2,269
  2,393
  2,514
  2,634
  2,754
  2,873
  2,994
  3,116
  3,240
  3,368
  3,500
  3,637
  3,780
  3,929
Issuance/(repurchase) of shares, $m
  76
  68
  53
  27
  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  
  340
  412
  489
  567
  654
  778
  909
  1,045
  1,185
  1,326
  1,467
  1,608
  1,746
  1,881
  2,014
  2,143
  2,269
  2,393
  2,514
  2,634
  2,754
  2,873
  2,994
  3,116
  3,240
  3,368
  3,500
  3,637
  3,780
  3,929
Total cash flow (excl. dividends), $m
  387
  480
  588
  710
  858
  1,061
  1,292
  1,552
  1,840
  2,156
  2,479
  2,849
  3,245
  3,667
  4,112
  4,581
  5,074
  5,589
  6,127
  6,687
  7,271
  7,877
  8,508
  9,162
  9,842
  10,548
  11,281
  12,043
  12,835
  13,658
Retained Cash Flow (-), $m
  -210
  -272
  -345
  -428
  -518
  -616
  -720
  -828
  -938
  -1,050
  -1,162
  -1,273
  -1,383
  -1,490
  -1,595
  -1,697
  -1,797
  -1,895
  -1,992
  -2,087
  -2,181
  -2,276
  -2,371
  -2,468
  -2,567
  -2,668
  -2,773
  -2,881
  -2,994
  -3,113
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
  177
  208
  243
  282
  340
  445
  572
  724
  901
  1,106
  1,317
  1,576
  1,862
  2,176
  2,517
  2,884
  3,276
  3,694
  4,135
  4,601
  5,090
  5,601
  6,136
  6,694
  7,275
  7,880
  8,508
  9,162
  9,841
  10,546
Discount rate, %
  6.30
  6.62
  6.95
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.78
  11.31
  11.88
  12.47
  13.10
  13.75
  14.44
  15.16
  15.92
  16.72
  17.55
  18.43
  19.35
  20.32
  21.33
  22.40
  23.52
  24.70
  25.93
PV of cash for distribution, $m
  166
  183
  198
  213
  235
  280
  324
  367
  405
  435
  450
  462
  462
  452
  432
  402
  367
  326
  283
  240
  198
  160
  125
  96
  71
  52
  36
  25
  16
  10
Current shareholders' claim on cash, %
  95.4
  92.6
  91.0
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4
  90.4

Ebix, Inc. (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS). Ebix operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance. Ebix designs and deploys back-end systems for P&C insurance brokers across the world. Ebix also designs and deploys on-demand and back-end systems for P&C insurance companies. Ebix focus in RCS channel pertains to business process outsourcing services that include providing project management, time and material consulting to clients across the world, and claims adjudication/settlement services.

FINANCIAL RATIOS  of  Ebix (EBIX)

Valuation Ratios
P/E Ratio 17
Price to Sales 5.4
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 19
Price to Free Cash Flow 21.6
Growth Rates
Sales Growth Rate 12.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -41.2%
Cap. Spend. - 3 Yr. Gr. Rate 58.5%
Financial Strength
Quick Ratio 10
Current Ratio 0.2
LT Debt to Equity 60.9%
Total Debt to Equity 63.7%
Interest Coverage 15
Management Effectiveness
Return On Assets 13.6%
Ret/ On Assets - 3 Yr. Avg. 12.5%
Return On Total Capital 14.3%
Ret/ On T. Cap. - 3 Yr. Avg. 13.5%
Return On Equity 22.5%
Return On Equity - 3 Yr. Avg. 18.9%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 71.5%
Gross Margin - 3 Yr. Avg. 74.1%
EBITDA Margin 38.6%
EBITDA Margin - 3 Yr. Avg. 39.5%
Operating Margin 33.6%
Oper. Margin - 3 Yr. Avg. 34.6%
Pre-Tax Margin 32.2%
Pre-Tax Margin - 3 Yr. Avg. 33.7%
Net Profit Margin 31.5%
Net Profit Margin - 3 Yr. Avg. 30.5%
Effective Tax Rate 2.1%
Eff/ Tax Rate - 3 Yr. Avg. 9%
Payout Ratio 10.6%

EBIX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EBIX stock intrinsic value calculation we used $363.971 million for the last fiscal year's total revenue generated by Ebix. The default revenue input number comes from 0001 income statement of Ebix. 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 EBIX stock valuation model: a) initial revenue growth rate of 42.6% 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 6.3%, whose default value for EBIX is calculated based on our internal credit rating of Ebix, 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 Ebix.
    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 EBIX stock the variable cost ratio is equal to 66.5%.

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 EBIX 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 Ebix.

Corporate tax rate of 27% is the nominal tax rate for Ebix. 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 EBIX 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 EBIX are equal to 98.9%.

Life of production assets of 51.2 years is the average useful life of capital assets used in Ebix 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 EBIX is equal to 9.9%. 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 - $491.51 million for Ebix - 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 31.491 million for Ebix 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 Ebix at the current share price and the inputted number of shares is $1.6 billion.

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COMPANY NEWS

▶ How Much Money Does Ebix Inc (NASDAQ:EBIX) Make?   [Nov-14-18 09:34AM  Simply Wall St.]
▶ Ebix: 3Q Earnings Snapshot   [08:06AM  Associated Press]
▶ Why Ebix Incs (NASDAQ:EBIX) CEO Pay Matters To You   [Oct-27-18 10:22AM  Simply Wall St.]
▶ Why Square, Ebix, and iRobot Slumped Today   [Oct-08-18 04:46PM  Motley Fool]
▶ Is Ebix Inc (NASDAQ:EBIX) Attractive At This PE Ratio?   [Oct-04-18 09:20AM  Simply Wall St.]
▶ Ebix Announces 5 for 1 Stock Split   [Sep-20-18 07:29AM  GlobeNewswire]
▶ Is Ebix Incs (NASDAQ:EBIX) ROE Of 19.6% Sustainable?   [Aug-30-18 11:21AM  Simply Wall St.]
▶ Ebix, Inc. to Host Earnings Call   [Aug-08-18 09:00AM  ACCESSWIRE]
▶ Ebix: 2Q Earnings Snapshot   [08:04AM  Associated Press]
▶ A Preview Of Ebix's Q2 Earnings   [Aug-07-18 03:03PM  Benzinga]
▶ [$$] Black Dragon Sells Indus Software Technologies to Ebix   [Jul-25-18 05:13PM  The Wall Street Journal]
▶ Ebix: 1Q Earnings Snapshot   [May-09-18 09:06AM  Associated Press]
▶ Calculating The Intrinsic Value Of Ebix Inc (NASDAQ:EBIX)   [Apr-19-18 02:58PM  Simply Wall St.]
▶ Why Ebix Inc (NASDAQ:EBIX) Could Be A Buy   [09:55AM  Simply Wall St.]
▶ What is Behind Ebix Incs (NASDAQ:EBIX) Superior ROE?   [Feb-23-18 07:53AM  Simply Wall St.]
▶ ETFs with exposure to Ebix, Inc. : December 29, 2017   [Dec-29-17 11:53AM  Capital Cube]
▶ ETFs with exposure to Ebix, Inc. : December 18, 2017   [Dec-18-17 03:23PM  Capital Cube]
▶ ETFs with exposure to Ebix, Inc. : December 7, 2017   [Dec-07-17 01:33PM  Capital Cube]
▶ Ebix posts 3Q profit   [Nov-08-17 08:01AM  Associated Press]
▶ Ebix At Upper End Of Buy Zone With Earnings Due   [Oct-27-17 03:00AM  Investor's Business Daily]

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