Intrinsic value of Eagle Bulk Shipping - EGLE

Previous Close

$4.71

  Intrinsic Value

$1.56

stock screener

  Rating & Target

str. sell

-67%

Previous close

$4.71

 
Intrinsic value

$1.56

 
Up/down potential

-67%

 
Rating

str. sell

We calculate the intrinsic value of EGLE 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 0.3

 

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, %
  39.70
  36.23
  33.11
  30.30
  27.77
  25.49
  23.44
  21.60
  19.94
  18.44
  17.10
  15.89
  14.80
  13.82
  12.94
  12.14
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.63
Revenue, $m
  331
  451
  600
  782
  999
  1,253
  1,547
  1,881
  2,256
  2,672
  3,129
  3,626
  4,163
  4,738
  5,351
  6,001
  6,687
  7,408
  8,164
  8,955
  9,781
  10,641
  11,537
  12,468
  13,437
  14,443
  15,489
  16,576
  17,706
  18,881
Variable operating expenses, $m
  865
  1,179
  1,569
  2,045
  2,612
  3,278
  4,046
  4,920
  5,901
  6,990
  8,185
  9,486
  10,889
  12,394
  13,998
  15,698
  17,492
  19,379
  21,357
  23,426
  25,586
  27,837
  30,180
  32,617
  35,151
  37,784
  40,520
  43,364
  46,320
  49,393
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
  865
  1,179
  1,569
  2,045
  2,612
  3,278
  4,046
  4,920
  5,901
  6,990
  8,185
  9,486
  10,889
  12,394
  13,998
  15,698
  17,492
  19,379
  21,357
  23,426
  25,586
  27,837
  30,180
  32,617
  35,151
  37,784
  40,520
  43,364
  46,320
  49,393
Operating income, $m
  -535
  -728
  -969
  -1,263
  -1,614
  -2,025
  -2,500
  -3,040
  -3,646
  -4,318
  -5,056
  -5,860
  -6,727
  -7,656
  -8,647
  -9,697
  -10,806
  -11,971
  -13,193
  -14,471
  -15,805
  -17,196
  -18,643
  -20,149
  -21,714
  -23,341
  -25,031
  -26,787
  -28,613
  -30,512
EBITDA, $m
  -494
  -673
  -895
  -1,166
  -1,490
  -1,870
  -2,309
  -2,807
  -3,367
  -3,988
  -4,670
  -5,412
  -6,212
  -7,071
  -7,986
  -8,956
  -9,979
  -11,056
  -12,184
  -13,365
  -14,597
  -15,881
  -17,218
  -18,608
  -20,053
  -21,556
  -23,117
  -24,739
  -26,425
  -28,178
Interest expense (income), $m
  0
  32
  46
  64
  86
  113
  145
  182
  226
  275
  331
  392
  459
  533
  612
  697
  788
  884
  985
  1,091
  1,203
  1,320
  1,442
  1,569
  1,701
  1,839
  1,982
  2,130
  2,285
  2,445
  2,612
Earnings before tax, $m
  -567
  -774
  -1,033
  -1,349
  -1,726
  -2,170
  -2,682
  -3,265
  -3,921
  -4,648
  -5,448
  -6,319
  -7,260
  -8,269
  -9,344
  -10,485
  -11,689
  -12,956
  -14,285
  -15,674
  -17,125
  -18,638
  -20,212
  -21,850
  -23,552
  -25,322
  -27,161
  -29,072
  -31,059
  -33,124
Tax expense, $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
Net income, $m
  -567
  -774
  -1,033
  -1,349
  -1,726
  -2,170
  -2,682
  -3,265
  -3,921
  -4,648
  -5,448
  -6,319
  -7,260
  -8,269
  -9,344
  -10,485
  -11,689
  -12,956
  -14,285
  -15,674
  -17,125
  -18,638
  -20,212
  -21,850
  -23,552
  -25,322
  -27,161
  -29,072
  -31,059
  -33,124

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
  1,081
  1,473
  1,960
  2,554
  3,263
  4,095
  5,055
  6,147
  7,372
  8,732
  10,225
  11,850
  13,603
  15,483
  17,487
  19,610
  21,852
  24,209
  26,680
  29,265
  31,963
  34,775
  37,702
  40,746
  43,911
  47,201
  50,619
  54,171
  57,864
  61,703
Adjusted assets (=assets-cash), $m
  1,081
  1,473
  1,960
  2,554
  3,263
  4,095
  5,055
  6,147
  7,372
  8,732
  10,225
  11,850
  13,603
  15,483
  17,487
  19,610
  21,852
  24,209
  26,680
  29,265
  31,963
  34,775
  37,702
  40,746
  43,911
  47,201
  50,619
  54,171
  57,864
  61,703
Revenue / Adjusted assets
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
  0.306
Average production assets, $m
  891
  1,214
  1,616
  2,105
  2,690
  3,376
  4,167
  5,067
  6,077
  7,198
  8,429
  9,768
  11,214
  12,764
  14,415
  16,166
  18,014
  19,957
  21,994
  24,125
  26,349
  28,667
  31,080
  33,590
  36,199
  38,911
  41,728
  44,657
  47,701
  50,865
Working capital, $m
  24
  33
  44
  58
  74
  93
  114
  139
  167
  198
  232
  268
  308
  351
  396
  444
  495
  548
  604
  663
  724
  787
  854
  923
  994
  1,069
  1,146
  1,227
  1,310
  1,397
Total debt, $m
  453
  627
  843
  1,106
  1,420
  1,789
  2,214
  2,697
  3,240
  3,843
  4,504
  5,224
  6,001
  6,834
  7,721
  8,662
  9,655
  10,699
  11,794
  12,939
  14,134
  15,380
  16,676
  18,025
  19,427
  20,884
  22,399
  23,972
  25,608
  27,309
Total liabilities, $m
  479
  652
  868
  1,131
  1,446
  1,814
  2,239
  2,723
  3,266
  3,868
  4,530
  5,249
  6,026
  6,859
  7,747
  8,687
  9,680
  10,725
  11,819
  12,964
  14,160
  15,405
  16,702
  18,051
  19,453
  20,910
  22,424
  23,998
  25,634
  27,334
Total equity, $m
  602
  820
  1,092
  1,423
  1,818
  2,281
  2,816
  3,424
  4,106
  4,864
  5,695
  6,600
  7,577
  8,624
  9,740
  10,923
  12,171
  13,484
  14,861
  16,301
  17,803
  19,369
  21,000
  22,696
  24,459
  26,291
  28,195
  30,173
  32,230
  34,368
Total liabilities and equity, $m
  1,081
  1,472
  1,960
  2,554
  3,264
  4,095
  5,055
  6,147
  7,372
  8,732
  10,225
  11,849
  13,603
  15,483
  17,487
  19,610
  21,851
  24,209
  26,680
  29,265
  31,963
  34,774
  37,702
  40,747
  43,912
  47,201
  50,619
  54,171
  57,864
  61,702
Debt-to-equity ratio
  0.750
  0.760
  0.770
  0.780
  0.780
  0.780
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
  0.790
Adjusted equity ratio
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557
  0.557

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -567
  -774
  -1,033
  -1,349
  -1,726
  -2,170
  -2,682
  -3,265
  -3,921
  -4,648
  -5,448
  -6,319
  -7,260
  -8,269
  -9,344
  -10,485
  -11,689
  -12,956
  -14,285
  -15,674
  -17,125
  -18,638
  -20,212
  -21,850
  -23,552
  -25,322
  -27,161
  -29,072
  -31,059
  -33,124
Depreciation, amort., depletion, $m
  41
  56
  74
  97
  123
  155
  191
  232
  279
  330
  387
  448
  514
  586
  661
  742
  826
  915
  1,009
  1,107
  1,209
  1,315
  1,426
  1,541
  1,660
  1,785
  1,914
  2,048
  2,188
  2,333
Funds from operations, $m
  -526
  -719
  -959
  -1,252
  -1,603
  -2,015
  -2,491
  -3,033
  -3,642
  -4,318
  -5,062
  -5,871
  -6,745
  -7,683
  -8,683
  -9,743
  -10,863
  -12,041
  -13,276
  -14,568
  -15,917
  -17,323
  -18,786
  -20,309
  -21,892
  -23,537
  -25,247
  -27,024
  -28,870
  -30,790
Change in working capital, $m
  7
  9
  11
  13
  16
  19
  22
  25
  28
  31
  34
  37
  40
  43
  45
  48
  51
  53
  56
  59
  61
  64
  66
  69
  72
  74
  77
  80
  84
  87
Cash from operations, $m
  -533
  -728
  -970
  -1,266
  -1,619
  -2,034
  -2,513
  -3,058
  -3,670
  -4,349
  -5,095
  -5,908
  -6,785
  -7,726
  -8,728
  -9,791
  -10,914
  -12,094
  -13,332
  -14,626
  -15,978
  -17,386
  -18,853
  -20,378
  -21,964
  -23,612
  -25,324
  -27,104
  -28,954
  -30,877
Maintenance CAPEX, $m
  -29
  -41
  -56
  -74
  -97
  -123
  -155
  -191
  -232
  -279
  -330
  -387
  -448
  -514
  -586
  -661
  -742
  -826
  -915
  -1,009
  -1,107
  -1,209
  -1,315
  -1,426
  -1,541
  -1,660
  -1,785
  -1,914
  -2,048
  -2,188
New CAPEX, $m
  -253
  -323
  -402
  -490
  -585
  -686
  -791
  -900
  -1,010
  -1,121
  -1,231
  -1,339
  -1,446
  -1,550
  -1,651
  -1,751
  -1,848
  -1,943
  -2,037
  -2,131
  -2,224
  -2,318
  -2,413
  -2,510
  -2,609
  -2,712
  -2,818
  -2,928
  -3,044
  -3,165
Cash from investing activities, $m
  -282
  -364
  -458
  -564
  -682
  -809
  -946
  -1,091
  -1,242
  -1,400
  -1,561
  -1,726
  -1,894
  -2,064
  -2,237
  -2,412
  -2,590
  -2,769
  -2,952
  -3,140
  -3,331
  -3,527
  -3,728
  -3,936
  -4,150
  -4,372
  -4,603
  -4,842
  -5,092
  -5,353
Free cash flow, $m
  -815
  -1,091
  -1,428
  -1,830
  -2,300
  -2,843
  -3,459
  -4,149
  -4,912
  -5,749
  -6,656
  -7,634
  -8,679
  -9,790
  -10,965
  -12,203
  -13,503
  -14,863
  -16,284
  -17,766
  -19,308
  -20,913
  -22,581
  -24,313
  -26,114
  -27,984
  -29,927
  -31,947
  -34,046
  -36,230
Issuance/(repayment) of debt, $m
  136
  174
  216
  263
  314
  368
  425
  484
  543
  602
  661
  720
  777
  833
  887
  941
  993
  1,044
  1,095
  1,145
  1,195
  1,246
  1,297
  1,349
  1,402
  1,457
  1,514
  1,574
  1,636
  1,701
Issuance/(repurchase) of shares, $m
  738
  993
  1,305
  1,680
  2,121
  2,633
  3,217
  3,873
  4,603
  5,406
  6,280
  7,224
  8,237
  9,316
  10,460
  11,668
  12,938
  14,269
  15,661
  17,114
  18,628
  20,204
  21,842
  23,546
  25,315
  27,154
  29,065
  31,051
  33,115
  35,262
Cash from financing (excl. dividends), $m  
  874
  1,167
  1,521
  1,943
  2,435
  3,001
  3,642
  4,357
  5,146
  6,008
  6,941
  7,944
  9,014
  10,149
  11,347
  12,609
  13,931
  15,313
  16,756
  18,259
  19,823
  21,450
  23,139
  24,895
  26,717
  28,611
  30,579
  32,625
  34,751
  36,963
Total cash flow (excl. dividends), $m
  59
  75
  93
  113
  135
  159
  183
  208
  234
  259
  285
  310
  335
  359
  382
  405
  428
  450
  472
  493
  515
  536
  558
  581
  604
  628
  652
  678
  705
  732
Retained Cash Flow (-), $m
  -738
  -993
  -1,305
  -1,680
  -2,121
  -2,633
  -3,217
  -3,873
  -4,603
  -5,406
  -6,280
  -7,224
  -8,237
  -9,316
  -10,460
  -11,668
  -12,938
  -14,269
  -15,661
  -17,114
  -18,628
  -20,204
  -21,842
  -23,546
  -25,315
  -27,154
  -29,065
  -31,051
  -33,115
  -35,262
Prev. year cash balance distribution, $m
  30
  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
  -649
  -918
  -1,212
  -1,566
  -1,986
  -2,474
  -3,034
  -3,665
  -4,369
  -5,146
  -5,995
  -6,914
  -7,902
  -8,957
  -10,078
  -11,262
  -12,510
  -13,819
  -15,190
  -16,621
  -18,113
  -19,667
  -21,284
  -22,965
  -24,712
  -26,527
  -28,413
  -30,373
  -32,411
  -34,529
Discount rate, %
  7.70
  8.09
  8.49
  8.91
  9.36
  9.83
  10.32
  10.83
  11.38
  11.95
  12.54
  13.17
  13.83
  14.52
  15.25
  16.01
  16.81
  17.65
  18.53
  19.46
  20.43
  21.45
  22.52
  23.65
  24.83
  26.07
  27.38
  28.75
  30.18
  31.69
PV of cash for distribution, $m
  -603
  -786
  -949
  -1,113
  -1,270
  -1,410
  -1,526
  -1,609
  -1,657
  -1,665
  -1,634
  -1,567
  -1,467
  -1,342
  -1,200
  -1,047
  -892
  -741
  -601
  -475
  -365
  -273
  -199
  -141
  -97
  -64
  -41
  -26
  -15
  -9
Current shareholders' claim on cash, %
  30.7
  9.6
  3.1
  1.0
  0.3
  0.1
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Eagle Bulk Shipping Inc., through its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including coal, grain, ore, pet coke, cement, and fertilizers. As of December 31, 2015, it owned and operated a fleet of 44 oceangoing vessels, which include 43 Supramax and 1 Handymax vessels with a combined carrying capacity of approximately 2,404,064 deadweight tons. Eagle Bulk Shipping Inc. was founded in 2005 and is headquartered in Stamford, Connecticut.

FINANCIAL RATIOS  of  Eagle Bulk Shipping (EGLE)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

EGLE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EGLE stock intrinsic value calculation we used $236.784625 million for the last fiscal year's total revenue generated by Eagle Bulk Shipping. The default revenue input number comes from 0001 income statement of Eagle Bulk Shipping. 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 EGLE stock valuation model: a) initial revenue growth rate of 39.7% 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 7.7%, whose default value for EGLE is calculated based on our internal credit rating of Eagle Bulk Shipping, 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 Eagle Bulk Shipping.
    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 EGLE stock the variable cost ratio is equal to 261.6%.

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 EGLE 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 10.2% for Eagle Bulk Shipping.

Corporate tax rate of 27% is the nominal tax rate for Eagle Bulk Shipping. 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 EGLE 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 EGLE are equal to 269.4%.

Life of production assets of 21.8 years is the average useful life of capital assets used in Eagle Bulk Shipping 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 EGLE is equal to 7.4%. 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 - $461.165033 million for Eagle Bulk Shipping - 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 74.104 million for Eagle Bulk Shipping 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 Eagle Bulk Shipping at the current share price and the inputted number of shares is $0.3 billion.

COMPANY NEWS

▶ Better Buy: DryShips vs. Eagle Bulk Shipping   [Dec-11-18 07:45PM  Motley Fool]
▶ Eagle Bulk Shipping Inc. Expands Fleet Scrubber Initiative   [Nov-20-18 08:30AM  GlobeNewswire]
▶ Eagle Bulk Shipping: 3Q Earnings Snapshot   [07:04PM  Associated Press]
▶ Bondholders Meeting Approves Amendments   [05:47PM  GlobeNewswire]
▶ Eagle Bulk Shipping Inc to Host Earnings Call   [Aug-08-18 06:00AM  ACCESSWIRE]
▶ Eagle Bulk Shipping: 2Q Earnings Snapshot   [05:29PM  Associated Press]
▶ Eagle Bulk Shipping: 1Q Earnings Snapshot   [May-09-18 07:11PM  Associated Press]
▶ Eagle Bulk Shipping reports 4Q loss   [Mar-05-18 06:17PM  Associated Press]
▶ Eagle Bulk Shipping Inc. Completes $265 million Refinancing   [Dec-11-17 05:07PM  GlobeNewswire]
▶ Eagle Bulk Shipping reports 3Q loss   [Nov-06-17 05:38AM  Associated Press]
▶ Eagle Bulk Shipping Inc. Reports Third Quarter 2017 Results   [Nov-02-17 04:52PM  GlobeNewswire]
▶ Eagle Bulk Shipping reports 2Q loss   [Aug-07-17 07:28PM  Associated Press]
▶ Eagle Bulk Takes Delivery of M/V Rowayton Eagle   [Jul-03-17 08:30AM  GlobeNewswire]
▶ Eagle Bulk Shipping Joins Russell 3000® Index   [Jun-28-17 08:00AM  GlobeNewswire]
▶ Eagle Bulk Takes Delivery of M/V Groton Eagle   [Jun-16-17 07:53AM  GlobeNewswire]
▶ Eagle Bulk Takes Delivery of M/V Fairfield Eagle   [Jun-09-17 08:30AM  GlobeNewswire]
▶ Eagle Bulk Takes Delivery of M/V Greenwich Eagle   [May-31-17 09:46AM  GlobeNewswire]
▶ Eagle Bulk Takes Delivery of M/V Stonington Eagle   [May-15-17 04:59PM  GlobeNewswire]
▶ Eagle Bulk Shipping reports 1Q loss   [May-08-17 05:15PM  Associated Press]

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