Intrinsic value of EnerSys - ENS

Previous Close

$77.23

  Intrinsic Value

$72.78

stock screener

  Rating & Target

hold

-6%

Previous close

$77.23

 
Intrinsic value

$72.78

 
Up/down potential

-6%

 
Rating

hold

We calculate the intrinsic value of ENS 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 2017), $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 3.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.20
  2.48
  2.73
  2.96
  3.16
  3.35
  3.51
  3.66
  3.79
  3.92
  4.02
  4.12
  4.21
  4.29
  4.36
  4.42
  4.48
  4.53
  4.58
  4.62
  4.66
  4.69
  4.72
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
Revenue, $m
  2,419
  2,479
  2,547
  2,622
  2,705
  2,796
  2,894
  3,000
  3,114
  3,235
  3,366
  3,504
  3,652
  3,808
  3,974
  4,150
  4,336
  4,533
  4,740
  4,960
  5,191
  5,434
  5,691
  5,961
  6,246
  6,546
  6,861
  7,193
  7,542
  7,910
Variable operating expenses, $m
  1,187
  1,215
  1,247
  1,282
  1,321
  1,364
  1,410
  1,460
  1,514
  1,571
  1,584
  1,649
  1,719
  1,792
  1,870
  1,953
  2,041
  2,133
  2,231
  2,334
  2,443
  2,557
  2,678
  2,805
  2,939
  3,080
  3,229
  3,385
  3,549
  3,722
Fixed operating expenses, $m
  1,011
  1,033
  1,056
  1,079
  1,103
  1,127
  1,152
  1,177
  1,203
  1,229
  1,256
  1,284
  1,312
  1,341
  1,371
  1,401
  1,432
  1,463
  1,495
  1,528
  1,562
  1,596
  1,631
  1,667
  1,704
  1,741
  1,780
  1,819
  1,859
  1,900
Total operating expenses, $m
  2,198
  2,248
  2,303
  2,361
  2,424
  2,491
  2,562
  2,637
  2,717
  2,800
  2,840
  2,933
  3,031
  3,133
  3,241
  3,354
  3,473
  3,596
  3,726
  3,862
  4,005
  4,153
  4,309
  4,472
  4,643
  4,821
  5,009
  5,204
  5,408
  5,622
Operating income, $m
  222
  231
  244
  261
  281
  305
  332
  363
  397
  435
  525
  571
  621
  675
  733
  796
  864
  936
  1,014
  1,097
  1,186
  1,281
  1,381
  1,489
  1,603
  1,724
  1,853
  1,989
  2,134
  2,288
EBITDA, $m
  357
  368
  384
  403
  427
  453
  484
  519
  557
  600
  646
  697
  752
  812
  876
  945
  1,020
  1,099
  1,184
  1,275
  1,372
  1,476
  1,586
  1,703
  1,827
  1,959
  2,099
  2,247
  2,405
  2,571
Interest expense (income), $m
  0
  32
  33
  35
  37
  39
  41
  43
  46
  49
  52
  55
  58
  62
  66
  70
  75
  79
  84
  90
  95
  101
  107
  114
  121
  128
  135
  143
  152
  161
  170
Earnings before tax, $m
  190
  198
  210
  224
  243
  264
  289
  317
  348
  383
  470
  513
  559
  609
  663
  722
  785
  852
  925
  1,002
  1,085
  1,173
  1,268
  1,368
  1,475
  1,589
  1,709
  1,837
  1,973
  2,118
Tax expense, $m
  51
  53
  57
  61
  65
  71
  78
  86
  94
  104
  127
  138
  151
  164
  179
  195
  212
  230
  250
  271
  293
  317
  342
  369
  398
  429
  462
  496
  533
  572
Net income, $m
  139
  145
  153
  164
  177
  193
  211
  231
  254
  280
  343
  374
  408
  445
  484
  527
  573
  622
  675
  732
  792
  857
  925
  999
  1,077
  1,160
  1,248
  1,341
  1,441
  1,546

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
  2,310
  2,368
  2,432
  2,504
  2,584
  2,670
  2,764
  2,865
  2,974
  3,090
  3,215
  3,347
  3,488
  3,638
  3,796
  3,964
  4,142
  4,329
  4,528
  4,737
  4,958
  5,190
  5,436
  5,694
  5,966
  6,252
  6,553
  6,870
  7,204
  7,555
Adjusted assets (=assets-cash), $m
  2,310
  2,368
  2,432
  2,504
  2,584
  2,670
  2,764
  2,865
  2,974
  3,090
  3,215
  3,347
  3,488
  3,638
  3,796
  3,964
  4,142
  4,329
  4,528
  4,737
  4,958
  5,190
  5,436
  5,694
  5,966
  6,252
  6,553
  6,870
  7,204
  7,555
Revenue / Adjusted assets
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
  1.047
Average production assets, $m
  868
  890
  914
  941
  971
  1,004
  1,039
  1,077
  1,118
  1,162
  1,208
  1,258
  1,311
  1,367
  1,427
  1,490
  1,557
  1,627
  1,702
  1,780
  1,863
  1,951
  2,043
  2,140
  2,242
  2,350
  2,463
  2,582
  2,708
  2,840
Working capital, $m
  140
  144
  148
  152
  157
  162
  168
  174
  181
  188
  195
  203
  212
  221
  231
  241
  252
  263
  275
  288
  301
  315
  330
  346
  362
  380
  398
  417
  437
  459
Total debt, $m
  613
  642
  676
  713
  754
  799
  848
  900
  956
  1,017
  1,081
  1,150
  1,223
  1,300
  1,382
  1,469
  1,561
  1,659
  1,761
  1,870
  1,984
  2,105
  2,232
  2,365
  2,506
  2,655
  2,811
  2,975
  3,148
  3,329
Total liabilities, $m
  1,197
  1,227
  1,260
  1,297
  1,338
  1,383
  1,432
  1,484
  1,540
  1,601
  1,665
  1,734
  1,807
  1,884
  1,966
  2,053
  2,145
  2,243
  2,345
  2,454
  2,568
  2,689
  2,816
  2,949
  3,090
  3,239
  3,395
  3,559
  3,732
  3,913
Total equity, $m
  1,114
  1,141
  1,172
  1,207
  1,245
  1,287
  1,332
  1,381
  1,433
  1,489
  1,549
  1,613
  1,681
  1,753
  1,830
  1,911
  1,996
  2,087
  2,182
  2,283
  2,390
  2,502
  2,620
  2,744
  2,876
  3,014
  3,159
  3,312
  3,472
  3,641
Total liabilities and equity, $m
  2,311
  2,368
  2,432
  2,504
  2,583
  2,670
  2,764
  2,865
  2,973
  3,090
  3,214
  3,347
  3,488
  3,637
  3,796
  3,964
  4,141
  4,330
  4,527
  4,737
  4,958
  5,191
  5,436
  5,693
  5,966
  6,253
  6,554
  6,871
  7,204
  7,554
Debt-to-equity ratio
  0.550
  0.560
  0.580
  0.590
  0.610
  0.620
  0.640
  0.650
  0.670
  0.680
  0.700
  0.710
  0.730
  0.740
  0.760
  0.770
  0.780
  0.790
  0.810
  0.820
  0.830
  0.840
  0.850
  0.860
  0.870
  0.880
  0.890
  0.900
  0.910
  0.910
Adjusted equity ratio
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482
  0.482

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  139
  145
  153
  164
  177
  193
  211
  231
  254
  280
  343
  374
  408
  445
  484
  527
  573
  622
  675
  732
  792
  857
  925
  999
  1,077
  1,160
  1,248
  1,341
  1,441
  1,546
Depreciation, amort., depletion, $m
  135
  137
  140
  142
  145
  149
  152
  156
  160
  164
  121
  126
  131
  137
  143
  149
  156
  163
  170
  178
  186
  195
  204
  214
  224
  235
  246
  258
  271
  284
Funds from operations, $m
  274
  282
  293
  306
  323
  341
  363
  387
  414
  444
  464
  500
  539
  581
  627
  676
  728
  785
  845
  910
  978
  1,052
  1,130
  1,213
  1,301
  1,395
  1,494
  1,600
  1,711
  1,830
Change in working capital, $m
  3
  3
  4
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  16
  17
  17
  18
  19
  20
  21
Cash from operations, $m
  271
  278
  289
  302
  318
  336
  357
  381
  408
  437
  457
  492
  531
  572
  617
  666
  718
  773
  833
  897
  965
  1,038
  1,115
  1,197
  1,284
  1,377
  1,476
  1,580
  1,691
  1,808
Maintenance CAPEX, $m
  -85
  -87
  -89
  -91
  -94
  -97
  -100
  -104
  -108
  -112
  -116
  -121
  -126
  -131
  -137
  -143
  -149
  -156
  -163
  -170
  -178
  -186
  -195
  -204
  -214
  -224
  -235
  -246
  -258
  -271
New CAPEX, $m
  -18
  -22
  -24
  -27
  -30
  -32
  -35
  -38
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -63
  -67
  -71
  -75
  -79
  -83
  -87
  -92
  -97
  -102
  -108
  -113
  -119
  -125
  -132
Cash from investing activities, $m
  -103
  -109
  -113
  -118
  -124
  -129
  -135
  -142
  -149
  -156
  -163
  -171
  -179
  -187
  -197
  -206
  -216
  -227
  -238
  -249
  -261
  -273
  -287
  -301
  -316
  -332
  -348
  -365
  -383
  -403
Free cash flow, $m
  168
  170
  175
  183
  194
  207
  222
  239
  259
  282
  294
  321
  352
  385
  421
  460
  502
  547
  596
  648
  704
  764
  828
  896
  968
  1,045
  1,128
  1,215
  1,308
  1,406
Issuance/(repayment) of debt, $m
  25
  30
  34
  37
  41
  45
  49
  52
  56
  60
  64
  69
  73
  77
  82
  87
  92
  97
  103
  108
  114
  121
  127
  134
  141
  148
  156
  164
  173
  182
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  
  25
  30
  34
  37
  41
  45
  49
  52
  56
  60
  64
  69
  73
  77
  82
  87
  92
  97
  103
  108
  114
  121
  127
  134
  141
  148
  156
  164
  173
  182
Total cash flow (excl. dividends), $m
  193
  200
  209
  221
  235
  251
  270
  292
  316
  342
  358
  390
  425
  462
  503
  547
  594
  644
  699
  756
  818
  884
  955
  1,030
  1,109
  1,194
  1,284
  1,379
  1,480
  1,588
Retained Cash Flow (-), $m
  -25
  -28
  -31
  -35
  -38
  -42
  -45
  -49
  -52
  -56
  -60
  -64
  -68
  -72
  -76
  -81
  -86
  -90
  -96
  -101
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -153
  -161
  -169
Prev. year cash balance distribution, $m
  15
  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
  19
  19
  20
  20
  21
  22
  22
  23
  24
  25
  26
  27
  28
  29
  30
  32
  33
  35
  36
  38
  40
  42
  43
  46
  48
  50
  52
  55
  58
  60
Cash available for distribution, $m
  183
  172
  178
  186
  197
  210
  225
  243
  263
  286
  298
  326
  357
  390
  427
  466
  508
  554
  603
  656
  712
  772
  836
  905
  978
  1,056
  1,138
  1,226
  1,320
  1,419
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
  175
  158
  155
  153
  152
  152
  152
  152
  151
  150
  142
  139
  136
  131
  125
  118
  111
  102
  93
  83
  74
  64
  55
  46
  38
  31
  24
  19
  14
  11
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

EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries. Its segments based on geographic regions consist of Americas, which consists of North and South America; EMEA, which includes Europe, the Middle East and Africa, and Asia, which includes Asia, Australia and Oceania. The Company's product lines include reserve power and motive power products. Its Reserve power products also include thermally managed cabinets and enclosures for electronic equipment and batteries. The Company's motive power products are used to provide power for electric industrial forklifts used in manufacturing, warehousing and other material handling applications. They are used as mining equipment, diesel locomotive starting and other rail equipment.

FINANCIAL RATIOS  of  EnerSys (ENS)

Valuation Ratios
P/E Ratio 21
Price to Sales 1.4
Price to Book 3
Price to Tangible Book
Price to Cash Flow 13.6
Price to Free Cash Flow 17.1
Growth Rates
Sales Growth Rate 2.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -10.7%
Cap. Spend. - 3 Yr. Gr. Rate -4.2%
Financial Strength
Quick Ratio 28
Current Ratio 0
LT Debt to Equity 53.3%
Total Debt to Equity 54.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.1%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 9.5%
Ret/ On T. Cap. - 3 Yr. Avg. 9.9%
Return On Equity 15.1%
Return On Equity - 3 Yr. Avg. 14.7%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 27.5%
Gross Margin - 3 Yr. Avg. 26.5%
EBITDA Margin 11.3%
EBITDA Margin - 3 Yr. Avg. 11.3%
Operating Margin 10%
Oper. Margin - 3 Yr. Avg. 9.9%
Pre-Tax Margin 9%
Pre-Tax Margin - 3 Yr. Avg. 8.9%
Net Profit Margin 6.8%
Net Profit Margin - 3 Yr. Avg. 6.6%
Effective Tax Rate 25.8%
Eff/ Tax Rate - 3 Yr. Avg. 26.7%
Payout Ratio 18.8%

ENS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ENS stock intrinsic value calculation we used $2367 million for the last fiscal year's total revenue generated by EnerSys. The default revenue input number comes from 2017 income statement of EnerSys. 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 ENS stock valuation model: a) initial revenue growth rate of 2.2% 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 ENS is calculated based on our internal credit rating of EnerSys, 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 EnerSys.
    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 ENS stock the variable cost ratio is equal to 49.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $989 million in the base year in the intrinsic value calculation for ENS 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 EnerSys.

Corporate tax rate of 27% is the nominal tax rate for EnerSys. 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 ENS stock is equal to 0.8%.

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 ENS are equal to 35.9%.

Life of production assets of 10 years is the average useful life of capital assets used in EnerSys 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 ENS is equal to 5.8%. 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 - $1103 million for EnerSys - 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 43 million for EnerSys 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 EnerSys at the current share price and the inputted number of shares is $3.3 billion.

RELATED COMPANIES Price Int.Val. Rating
ARTX Arotech 3.80 5.59  str.buy

COMPANY NEWS

▶ IIROC Trade Resumption - ENS   [Jun-29-18 09:27AM  CNW Group]
▶ E Split Corp. IPO Raises $80 Million   [09:09AM  CNW Group]
▶ IIROC Trading Halt - ENS   [08:11AM  CNW Group]
▶ Is It Time To Sell EnerSys (NYSE:ENS) Based Off Its PE Ratio?   [Jun-21-18 12:39PM  Simply Wall St.]
▶ EnerSys: Fiscal 4Q Earnings Snapshot   [May-16-18 04:44PM  Associated Press]
▶ EnerSys Announces Quarterly Dividend   [04:16PM  GlobeNewswire]
▶ EnerSys Announces New Global Technology Center   [Apr-23-18 04:15PM  GlobeNewswire]
▶ EnerSys to Host Earnings Call   [07:10AM  ACCESSWIRE]
▶ EnerSys reports 3Q loss   [05:01AM  Associated Press]
▶ EnerSys Announces Quarterly Dividend   [Feb-07-18 04:16PM  GlobeNewswire]
▶ EnerSys Value Analysis (NYSE:ENS) : November 14, 2017   [Nov-14-17 03:22PM  Capital Cube]
▶ EnerSys to Host Earnings Call   [07:30AM  ACCESSWIRE]
▶ EnerSys posts 2Q profit   [Nov-08-17 06:59PM  Associated Press]
▶ ETFs with exposure to EnerSys : October 27, 2017   [Oct-27-17 10:53AM  Capital Cube]
▶ ETFs with exposure to EnerSys : October 17, 2017   [Oct-17-17 09:41AM  Capital Cube]
▶ ETFs with exposure to EnerSys : October 3, 2017   [Oct-03-17 11:11AM  Capital Cube]
▶ ETFs with exposure to EnerSys : September 20, 2017   [Sep-19-17 11:52PM  Capital Cube]
▶ EnerSys posts 1Q profit   [Aug-09-17 11:50PM  Associated Press]
▶ ETFs with exposure to EnerSys : July 13, 2017   [Jul-13-17 03:56PM  Capital Cube]
▶ EnerSys Appoints Two New Members to its Board of Directors   [Jul-10-17 04:15PM  GlobeNewswire]
▶ ETFs with exposure to EnerSys : July 3, 2017   [Jul-03-17 03:09PM  Capital Cube]
▶ ETFs with exposure to EnerSys : June 22, 2017   [Jun-22-17 03:41PM  Capital Cube]
▶ EnerSys Announces $60M in New Global Space Business   [Jun-13-17 04:15PM  GlobeNewswire]
▶ Why EnerSys' Shares Plunged 11% in May   [03:27PM  Motley Fool]
▶ ETFs with exposure to EnerSys : June 6, 2017   [Jun-06-17 11:41AM  Capital Cube]
▶ EnerSys Value Analysis (NYSE:ENS) : June 2, 2017   [Jun-02-17 02:54PM  Capital Cube]
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