Intrinsic value of Emerson Electric - EMR

Previous Close

$77.77

  Intrinsic Value

$68.70

stock screener

  Rating & Target

hold

-12%

Previous close

$77.77

 
Intrinsic value

$68.70

 
Up/down potential

-12%

 
Rating

hold

We calculate the intrinsic value of EMR 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 48.9

 

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, %
  10.30
  9.77
  9.29
  8.86
  8.48
  8.13
  7.82
  7.53
  7.28
  7.05
  6.85
  6.66
  6.50
  6.35
  6.21
  6.09
  5.98
  5.88
  5.80
  5.72
  5.64
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
  5.25
Revenue, $m
  16,836
  18,481
  20,199
  21,989
  23,853
  25,792
  27,808
  29,904
  32,081
  34,344
  36,696
  39,141
  41,684
  44,329
  47,083
  49,951
  52,939
  56,054
  59,303
  62,693
  66,231
  69,927
  73,788
  77,824
  82,044
  86,459
  91,078
  95,912
  100,974
  106,275
Variable operating expenses, $m
  13,866
  15,150
  16,491
  17,889
  19,345
  20,859
  22,433
  24,069
  25,769
  27,536
  28,652
  30,561
  32,546
  34,612
  36,762
  39,001
  41,335
  43,767
  46,303
  48,950
  51,713
  54,598
  57,613
  60,764
  64,059
  67,506
  71,113
  74,887
  78,840
  82,978
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
  13,866
  15,150
  16,491
  17,889
  19,345
  20,859
  22,433
  24,069
  25,769
  27,536
  28,652
  30,561
  32,546
  34,612
  36,762
  39,001
  41,335
  43,767
  46,303
  48,950
  51,713
  54,598
  57,613
  60,764
  64,059
  67,506
  71,113
  74,887
  78,840
  82,978
Operating income, $m
  2,970
  3,331
  3,707
  4,100
  4,508
  4,933
  5,375
  5,835
  6,312
  6,808
  8,044
  8,580
  9,137
  9,717
  10,321
  10,950
  11,605
  12,288
  13,000
  13,743
  14,518
  15,329
  16,175
  17,060
  17,985
  18,953
  19,965
  21,025
  22,134
  23,296
EBITDA, $m
  4,161
  4,567
  4,992
  5,434
  5,895
  6,374
  6,872
  7,390
  7,928
  8,487
  9,068
  9,673
  10,301
  10,955
  11,635
  12,344
  13,083
  13,852
  14,655
  15,493
  16,367
  17,281
  18,235
  19,232
  20,275
  21,366
  22,508
  23,702
  24,953
  26,263
Interest expense (income), $m
  192
  251
  312
  375
  441
  510
  582
  657
  734
  815
  899
  986
  1,076
  1,170
  1,268
  1,370
  1,476
  1,586
  1,701
  1,821
  1,946
  2,076
  2,212
  2,355
  2,503
  2,658
  2,821
  2,991
  3,168
  3,354
  3,549
Earnings before tax, $m
  2,719
  3,019
  3,332
  3,658
  3,998
  4,351
  4,719
  5,100
  5,497
  5,909
  7,058
  7,504
  7,967
  8,449
  8,951
  9,474
  10,019
  10,587
  11,179
  11,797
  12,442
  13,116
  13,820
  14,557
  15,326
  16,132
  16,974
  17,856
  18,780
  19,747
Tax expense, $m
  734
  815
  900
  988
  1,079
  1,175
  1,274
  1,377
  1,484
  1,595
  1,906
  2,026
  2,151
  2,281
  2,417
  2,558
  2,705
  2,858
  3,018
  3,185
  3,359
  3,541
  3,732
  3,930
  4,138
  4,356
  4,583
  4,821
  5,071
  5,332
Net income, $m
  1,985
  2,204
  2,432
  2,670
  2,918
  3,176
  3,445
  3,723
  4,013
  4,314
  5,153
  5,478
  5,816
  6,168
  6,534
  6,916
  7,314
  7,728
  8,161
  8,612
  9,083
  9,575
  10,089
  10,626
  11,188
  11,776
  12,391
  13,035
  13,709
  14,416

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
  21,613
  23,724
  25,929
  28,227
  30,620
  33,109
  35,697
  38,387
  41,182
  44,087
  47,106
  50,245
  53,509
  56,905
  60,441
  64,122
  67,958
  71,957
  76,127
  80,478
  85,021
  89,765
  94,722
  99,903
  105,320
  110,987
  116,916
  123,122
  129,620
  136,425
Adjusted assets (=assets-cash), $m
  21,613
  23,724
  25,929
  28,227
  30,620
  33,109
  35,697
  38,387
  41,182
  44,087
  47,106
  50,245
  53,509
  56,905
  60,441
  64,122
  67,958
  71,957
  76,127
  80,478
  85,021
  89,765
  94,722
  99,903
  105,320
  110,987
  116,916
  123,122
  129,620
  136,425
Revenue / Adjusted assets
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
  0.779
Average production assets, $m
  6,768
  7,429
  8,120
  8,840
  9,589
  10,368
  11,179
  12,021
  12,897
  13,806
  14,752
  15,735
  16,757
  17,820
  18,927
  20,080
  21,282
  22,534
  23,840
  25,202
  26,625
  28,111
  29,663
  31,285
  32,982
  34,756
  36,613
  38,557
  40,592
  42,722
Working capital, $m
  1,111
  1,220
  1,333
  1,451
  1,574
  1,702
  1,835
  1,974
  2,117
  2,267
  2,422
  2,583
  2,751
  2,926
  3,107
  3,297
  3,494
  3,700
  3,914
  4,138
  4,371
  4,615
  4,870
  5,136
  5,415
  5,706
  6,011
  6,330
  6,664
  7,014
Total debt, $m
  5,780
  6,952
  8,175
  9,451
  10,779
  12,161
  13,597
  15,090
  16,641
  18,253
  19,929
  21,671
  23,483
  25,367
  27,330
  29,373
  31,502
  33,721
  36,035
  38,450
  40,971
  43,604
  46,355
  49,231
  52,238
  55,383
  58,673
  62,118
  65,724
  69,501
Total liabilities, $m
  11,995
  13,167
  14,390
  15,666
  16,994
  18,376
  19,812
  21,305
  22,856
  24,468
  26,144
  27,886
  29,698
  31,582
  33,545
  35,588
  37,717
  39,936
  42,250
  44,665
  47,186
  49,819
  52,570
  55,446
  58,453
  61,598
  64,888
  68,333
  71,939
  75,716
Total equity, $m
  9,618
  10,557
  11,538
  12,561
  13,626
  14,734
  15,885
  17,082
  18,326
  19,619
  20,962
  22,359
  23,812
  25,323
  26,896
  28,534
  30,241
  32,021
  33,876
  35,813
  37,834
  39,945
  42,151
  44,457
  46,867
  49,389
  52,028
  54,789
  57,681
  60,709
Total liabilities and equity, $m
  21,613
  23,724
  25,928
  28,227
  30,620
  33,110
  35,697
  38,387
  41,182
  44,087
  47,106
  50,245
  53,510
  56,905
  60,441
  64,122
  67,958
  71,957
  76,126
  80,478
  85,020
  89,764
  94,721
  99,903
  105,320
  110,987
  116,916
  123,122
  129,620
  136,425
Debt-to-equity ratio
  0.600
  0.660
  0.710
  0.750
  0.790
  0.830
  0.860
  0.880
  0.910
  0.930
  0.950
  0.970
  0.990
  1.000
  1.020
  1.030
  1.040
  1.050
  1.060
  1.070
  1.080
  1.090
  1.100
  1.110
  1.110
  1.120
  1.130
  1.130
  1.140
  1.140
Adjusted equity ratio
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445
  0.445

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,985
  2,204
  2,432
  2,670
  2,918
  3,176
  3,445
  3,723
  4,013
  4,314
  5,153
  5,478
  5,816
  6,168
  6,534
  6,916
  7,314
  7,728
  8,161
  8,612
  9,083
  9,575
  10,089
  10,626
  11,188
  11,776
  12,391
  13,035
  13,709
  14,416
Depreciation, amort., depletion, $m
  1,191
  1,237
  1,284
  1,334
  1,386
  1,441
  1,497
  1,555
  1,616
  1,679
  1,024
  1,093
  1,164
  1,238
  1,314
  1,394
  1,478
  1,565
  1,656
  1,750
  1,849
  1,952
  2,060
  2,173
  2,290
  2,414
  2,543
  2,678
  2,819
  2,967
Funds from operations, $m
  3,175
  3,440
  3,717
  4,005
  4,305
  4,617
  4,941
  5,279
  5,629
  5,993
  6,177
  6,570
  6,980
  7,406
  7,849
  8,310
  8,792
  9,293
  9,816
  10,362
  10,932
  11,527
  12,149
  12,799
  13,479
  14,190
  14,934
  15,713
  16,528
  17,382
Change in working capital, $m
  104
  109
  113
  118
  123
  128
  133
  138
  144
  149
  155
  161
  168
  175
  182
  189
  197
  206
  214
  224
  234
  244
  255
  266
  279
  291
  305
  319
  334
  350
Cash from operations, $m
  3,071
  3,331
  3,603
  3,887
  4,182
  4,489
  4,808
  5,140
  5,485
  5,844
  6,022
  6,409
  6,812
  7,231
  7,667
  8,121
  8,594
  9,087
  9,602
  10,138
  10,698
  11,283
  11,894
  12,533
  13,200
  13,898
  14,629
  15,394
  16,194
  17,033
Maintenance CAPEX, $m
  -426
  -470
  -516
  -564
  -614
  -666
  -720
  -776
  -835
  -896
  -959
  -1,024
  -1,093
  -1,164
  -1,238
  -1,314
  -1,394
  -1,478
  -1,565
  -1,656
  -1,750
  -1,849
  -1,952
  -2,060
  -2,173
  -2,290
  -2,414
  -2,543
  -2,678
  -2,819
New CAPEX, $m
  -638
  -661
  -690
  -720
  -749
  -780
  -810
  -842
  -875
  -910
  -945
  -983
  -1,022
  -1,064
  -1,107
  -1,153
  -1,201
  -1,252
  -1,306
  -1,363
  -1,423
  -1,486
  -1,552
  -1,622
  -1,697
  -1,775
  -1,857
  -1,944
  -2,035
  -2,131
Cash from investing activities, $m
  -1,064
  -1,131
  -1,206
  -1,284
  -1,363
  -1,446
  -1,530
  -1,618
  -1,710
  -1,806
  -1,904
  -2,007
  -2,115
  -2,228
  -2,345
  -2,467
  -2,595
  -2,730
  -2,871
  -3,019
  -3,173
  -3,335
  -3,504
  -3,682
  -3,870
  -4,065
  -4,271
  -4,487
  -4,713
  -4,950
Free cash flow, $m
  2,008
  2,200
  2,397
  2,603
  2,819
  3,044
  3,278
  3,522
  3,775
  4,039
  4,118
  4,402
  4,697
  5,004
  5,322
  5,654
  5,999
  6,357
  6,731
  7,120
  7,525
  7,948
  8,390
  8,850
  9,331
  9,833
  10,359
  10,908
  11,482
  12,083
Issuance/(repayment) of debt, $m
  1,124
  1,172
  1,224
  1,276
  1,328
  1,382
  1,436
  1,493
  1,551
  1,612
  1,676
  1,742
  1,812
  1,885
  1,962
  2,043
  2,129
  2,219
  2,314
  2,415
  2,521
  2,633
  2,751
  2,875
  3,007
  3,145
  3,291
  3,444
  3,606
  3,777
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  1,124
  1,172
  1,224
  1,276
  1,328
  1,382
  1,436
  1,493
  1,551
  1,612
  1,676
  1,742
  1,812
  1,885
  1,962
  2,043
  2,129
  2,219
  2,314
  2,415
  2,521
  2,633
  2,751
  2,875
  3,007
  3,145
  3,291
  3,444
  3,606
  3,777
Total cash flow (excl. dividends), $m
  3,132
  3,372
  3,621
  3,879
  4,147
  4,425
  4,714
  5,015
  5,326
  5,651
  5,793
  6,144
  6,509
  6,889
  7,284
  7,697
  8,127
  8,577
  9,045
  9,535
  10,047
  10,581
  11,141
  11,726
  12,338
  12,978
  13,649
  14,352
  15,088
  15,859
Retained Cash Flow (-), $m
  -900
  -940
  -981
  -1,023
  -1,065
  -1,108
  -1,152
  -1,197
  -1,244
  -1,293
  -1,343
  -1,397
  -1,453
  -1,511
  -1,573
  -1,638
  -1,707
  -1,779
  -1,856
  -1,936
  -2,021
  -2,111
  -2,206
  -2,306
  -2,411
  -2,522
  -2,639
  -2,762
  -2,891
  -3,028
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
  2,232
  2,432
  2,639
  2,856
  3,082
  3,317
  3,563
  3,818
  4,083
  4,358
  4,450
  4,747
  5,056
  5,377
  5,711
  6,059
  6,421
  6,797
  7,190
  7,599
  8,025
  8,470
  8,935
  9,420
  9,927
  10,457
  11,011
  11,590
  12,197
  12,831
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
  2,140
  2,227
  2,297
  2,352
  2,389
  2,408
  2,407
  2,386
  2,345
  2,285
  2,113
  2,026
  1,922
  1,805
  1,677
  1,540
  1,397
  1,252
  1,107
  966
  830
  703
  586
  480
  386
  305
  236
  179
  133
  97
Current shareholders' claim on cash, %
  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

Emerson Electric Co. is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions. The Company's principal production operations are electronics assembly, metal stamping, forming, casting, machining, welding, plating, heat treating, painting and assembly. In addition, the Company uses specialized production operations, including automatic and semiautomatic testing, automated material handling and storage, ferrous and nonferrous machining, and special furnaces for heat treating and foundry applications. The Company provides measurement, control and diagnostic technologies for automated industrial processes.

FINANCIAL RATIOS  of  Emerson Electric (EMR)

Valuation Ratios
P/E Ratio 32.9
Price to Sales 3.3
Price to Book 5.7
Price to Tangible Book
Price to Cash Flow 26.1
Price to Free Cash Flow 34.8
Growth Rates
Sales Growth Rate 5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.5%
Cap. Spend. - 3 Yr. Gr. Rate -6.1%
Financial Strength
Quick Ratio 4
Current Ratio 0.1
LT Debt to Equity 43.5%
Total Debt to Equity 53.4%
Interest Coverage 13
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 9.5%
Return On Total Capital 11%
Ret/ On T. Cap. - 3 Yr. Avg. 13.2%
Return On Equity 18.6%
Return On Equity - 3 Yr. Avg. 23.1%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 41.9%
Gross Margin - 3 Yr. Avg. 42.5%
EBITDA Margin 20.7%
EBITDA Margin - 3 Yr. Avg. 23.4%
Operating Margin 16.3%
Oper. Margin - 3 Yr. Avg. 17%
Pre-Tax Margin 15.3%
Pre-Tax Margin - 3 Yr. Avg. 18.2%
Net Profit Margin 9.9%
Net Profit Margin - 3 Yr. Avg. 12.6%
Effective Tax Rate 28.3%
Eff/ Tax Rate - 3 Yr. Avg. 30.5%
Payout Ratio 81.6%

EMR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EMR stock intrinsic value calculation we used $15264 million for the last fiscal year's total revenue generated by Emerson Electric. The default revenue input number comes from 0001 income statement of Emerson Electric. 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 EMR stock valuation model: a) initial revenue growth rate of 10.3% 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 EMR is calculated based on our internal credit rating of Emerson Electric, 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 Emerson Electric.
    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 EMR stock the variable cost ratio is equal to 82.8%.

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 EMR 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 Emerson Electric.

Corporate tax rate of 27% is the nominal tax rate for Emerson Electric. 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 EMR 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 EMR are equal to 40.2%.

Life of production assets of 14.4 years is the average useful life of capital assets used in Emerson Electric 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 EMR is equal to 6.6%. 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 - $8718 million for Emerson Electric - 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 628.466 million for Emerson Electric 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 Emerson Electric at the current share price and the inputted number of shares is $48.9 billion.

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COMPANY NEWS

▶ Emerson Electric Has Broken Out on the Topside   [Sep-18-18 01:07PM  TheStreet.com]
▶ What You Must Know About Emerson Electric Cos (NYSE:EMR) ROE   [Sep-17-18 08:37AM  Simply Wall St.]
▶ Stocks tied to China may be signaling end to trade war   [Sep-11-18 07:11PM  CNBC Videos]
▶ Why Fluor Corporation Soared in August   [Sep-06-18 04:49PM  Motley Fool]
▶ Are These 2 Stocks Really a Sell?   [Sep-03-18 09:03PM  Motley Fool]
▶ These 3 Highly Rated Industrial Stocks Are Buys Now   [Aug-30-18 09:47AM  Motley Fool]
▶ Is Emerson Electric Co (NYSE:EMR) Undervalued?   [08:07AM  Simply Wall St.]
▶ 5 Companies Hit 52-Week Highs   [Aug-29-18 12:13PM  GuruFocus.com]
▶ Emerson names successor to Automation Solutions platform   [Aug-15-18 01:00PM  American City Business Journals]
▶ Emerson Electric president to retire Oct. 1   [Aug-14-18 01:42PM  Associated Press]
▶ Emerson Electric's president to retire, successor named   [09:46AM  American City Business Journals]
▶ Stocks End Higher; Tesla Surges   [Aug-07-18 06:42PM  TheStreet.com]
▶ Emerson Declares Dividend   [10:10AM  Business Wire]
▶ Emerson Electric: Fiscal 3Q Earnings Snapshot   [07:01AM  Associated Press]
▶ Why This Internet of Things Stock Soared After Earnings   [Aug-02-18 07:47AM  Motley Fool]
▶ 20 Automation Stocks for the Revolution in Robotics   [Jul-27-18 03:08PM  InvestorPlace]
▶ 3 Reliable Dividend Stocks for Your Portfolio   [Jul-23-18 08:18AM  Motley Fool]
▶ 7 Alternative Internet of Things Stocks to Buy   [Jul-17-18 10:28AM  InvestorPlace]
▶ Emerson Completes Aventics Acquisition   [09:00AM  Business Wire]
▶ Some Hope for GE, Three Industrial Stocks to Buy Now   [Jul-12-18 11:52AM  Barrons.com]
▶ Emerson Completes Tools & Test Acquisition   [Jul-02-18 01:13PM  Business Wire]
▶ 7 Stocks to Buy That Arent in the Dow But Should Be   [Jun-28-18 03:22PM  InvestorPlace]
▶ Here's How I Would Buy Emerson Electric   [Jun-21-18 01:30PM  TheStreet.com]
▶ 7 Stocks That Could Take a Trade-War Hit   [Jun-14-18 03:12PM  InvestorPlace]
▶ 3 Sustainable Water Stocks for Your Portfolio   [May-29-18 06:03AM  Motley Fool]
▶ This Could Be the Next Industrial Activist Target   [May-22-18 07:30AM  Bloomberg]
▶ [$$] Triton Partners Makes 5.5-Times Return on Aventics Sale   [May-17-18 12:51PM  The Wall Street Journal]
▶ Emerson Agrees to Buy Aventics   [09:37AM  Business Wire]
▶ [$$] U.S. Businesses to Make Their Case Against China Tariffs   [May-14-18 12:28AM  The Wall Street Journal]
▶ Is It Time To Buy Emerson Electric Co (NYSE:EMR)?   [May-09-18 06:43PM  Simply Wall St.]
▶ 'High Watermark' for Industrials? It Depends   [May-04-18 10:14AM  Bloomberg]
▶ Emerson Declares Dividend   [09:38AM  Business Wire]
▶ Emerson Electric: Fiscal 2Q Earnings Snapshot   [07:30AM  Associated Press]
▶ Emerson Electric Q2 Earnings Preview   [Apr-30-18 03:09PM  Benzinga]
▶ Why Emerson Electric Co (NYSE:EMR) Is A Top Dividend Stocks   [Apr-25-18 08:18PM  Simply Wall St.]
▶ [$$] Emerson Automation CTO Rethinks Cyber for Era of IoT   [Apr-19-18 06:14PM  The Wall Street Journal]

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