Intrinsic value of Eversource Energy - ES

Previous Close

$66.20

  Intrinsic Value

$28.30

stock screener

  Rating & Target

str. sell

-57%

Previous close

$66.20

 
Intrinsic value

$28.30

 
Up/down potential

-57%

 
Rating

str. sell

We calculate the intrinsic value of ES 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 21.0

 

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, %
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
  5.01
  5.01
  5.01
  5.01
Revenue, $m
  8,155
  8,577
  9,020
  9,484
  9,971
  10,481
  11,017
  11,578
  12,167
  12,785
  13,433
  14,113
  14,826
  15,575
  16,361
  17,186
  18,052
  18,960
  19,914
  20,915
  21,966
  23,069
  24,227
  25,443
  26,719
  28,059
  29,465
  30,942
  32,492
  34,120
Variable operating expenses, $m
  3,916
  4,096
  4,284
  4,482
  4,689
  4,907
  5,135
  5,374
  5,624
  5,888
  5,721
  6,010
  6,314
  6,633
  6,968
  7,319
  7,688
  8,075
  8,481
  8,907
  9,355
  9,825
  10,318
  10,836
  11,379
  11,950
  12,549
  13,178
  13,838
  14,531
Fixed operating expenses, $m
  2,182
  2,230
  2,279
  2,329
  2,380
  2,433
  2,486
  2,541
  2,597
  2,654
  2,712
  2,772
  2,833
  2,895
  2,959
  3,024
  3,091
  3,159
  3,228
  3,299
  3,372
  3,446
  3,522
  3,599
  3,678
  3,759
  3,842
  3,927
  4,013
  4,101
Total operating expenses, $m
  6,098
  6,326
  6,563
  6,811
  7,069
  7,340
  7,621
  7,915
  8,221
  8,542
  8,433
  8,782
  9,147
  9,528
  9,927
  10,343
  10,779
  11,234
  11,709
  12,206
  12,727
  13,271
  13,840
  14,435
  15,057
  15,709
  16,391
  17,105
  17,851
  18,632
Operating income, $m
  2,057
  2,252
  2,457
  2,673
  2,901
  3,142
  3,396
  3,663
  3,946
  4,243
  4,999
  5,330
  5,679
  6,047
  6,434
  6,842
  7,273
  7,727
  8,205
  8,708
  9,239
  9,798
  10,387
  11,008
  11,661
  12,349
  13,074
  13,837
  14,641
  15,487
EBITDA, $m
  3,358
  3,597
  3,849
  4,114
  4,393
  4,688
  4,998
  5,324
  5,669
  6,031
  6,413
  6,815
  7,239
  7,686
  8,156
  8,651
  9,173
  9,722
  10,300
  10,909
  11,551
  12,226
  12,937
  13,685
  14,473
  15,302
  16,175
  17,094
  18,060
  19,078
Interest expense (income), $m
  0
  724
  795
  869
  947
  1,028
  1,113
  1,203
  1,296
  1,395
  1,498
  1,606
  1,719
  1,839
  1,964
  2,095
  2,232
  2,377
  2,528
  2,687
  2,854
  3,030
  3,214
  3,407
  3,610
  3,823
  4,046
  4,281
  4,527
  4,786
  5,057
Earnings before tax, $m
  1,333
  1,457
  1,588
  1,726
  1,873
  2,029
  2,193
  2,367
  2,551
  2,745
  3,394
  3,611
  3,840
  4,083
  4,339
  4,610
  4,896
  5,198
  5,517
  5,854
  6,209
  6,584
  6,980
  7,398
  7,838
  8,303
  8,793
  9,310
  9,855
  10,430
Tax expense, $m
  360
  393
  429
  466
  506
  548
  592
  639
  689
  741
  916
  975
  1,037
  1,102
  1,172
  1,245
  1,322
  1,404
  1,490
  1,581
  1,677
  1,778
  1,885
  1,997
  2,116
  2,242
  2,374
  2,514
  2,661
  2,816
Net income, $m
  973
  1,063
  1,159
  1,260
  1,368
  1,481
  1,601
  1,728
  1,862
  2,004
  2,477
  2,636
  2,803
  2,981
  3,168
  3,365
  3,574
  3,795
  4,028
  4,273
  4,533
  4,807
  5,096
  5,400
  5,722
  6,061
  6,419
  6,797
  7,194
  7,614

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
  38,108
  40,082
  42,151
  44,320
  46,594
  48,979
  51,480
  54,103
  56,855
  59,741
  62,770
  65,948
  69,283
  72,782
  76,454
  80,308
  84,354
  88,600
  93,056
  97,734
  102,644
  107,799
  113,210
  118,891
  124,854
  131,115
  137,688
  144,588
  151,833
  159,439
Adjusted assets (=assets-cash), $m
  38,108
  40,082
  42,151
  44,320
  46,594
  48,979
  51,480
  54,103
  56,855
  59,741
  62,770
  65,948
  69,283
  72,782
  76,454
  80,308
  84,354
  88,600
  93,056
  97,734
  102,644
  107,799
  113,210
  118,891
  124,854
  131,115
  137,688
  144,588
  151,833
  159,439
Revenue / Adjusted assets
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
Average production assets, $m
  25,746
  27,079
  28,477
  29,942
  31,479
  33,090
  34,779
  36,552
  38,411
  40,361
  42,407
  44,554
  46,807
  49,171
  51,652
  54,256
  56,989
  59,858
  62,868
  66,029
  69,346
  72,829
  76,485
  80,322
  84,351
  88,581
  93,022
  97,684
  102,578
  107,716
Working capital, $m
  522
  549
  577
  607
  638
  671
  705
  741
  779
  818
  860
  903
  949
  997
  1,047
  1,100
  1,155
  1,213
  1,274
  1,339
  1,406
  1,476
  1,551
  1,628
  1,710
  1,796
  1,886
  1,980
  2,080
  2,184
Total debt, $m
  14,726
  16,096
  17,532
  19,037
  20,616
  22,271
  24,006
  25,827
  27,736
  29,740
  31,842
  34,047
  36,362
  38,790
  41,339
  44,014
  46,821
  49,768
  52,860
  56,107
  59,515
  63,092
  66,847
  70,790
  74,928
  79,273
  83,835
  88,624
  93,651
  98,930
Total liabilities, $m
  26,447
  27,817
  29,253
  30,758
  32,336
  33,991
  35,727
  37,547
  39,457
  41,460
  43,562
  45,768
  48,082
  50,511
  53,059
  55,734
  58,541
  61,488
  64,581
  67,827
  71,235
  74,813
  78,568
  82,510
  86,649
  90,994
  95,555
  100,344
  105,372
  110,650
Total equity, $m
  11,661
  12,265
  12,898
  13,562
  14,258
  14,987
  15,753
  16,555
  17,397
  18,281
  19,208
  20,180
  21,200
  22,271
  23,395
  24,574
  25,812
  27,111
  28,475
  29,907
  31,409
  32,987
  34,642
  36,381
  38,205
  40,121
  42,132
  44,244
  46,461
  48,788
Total liabilities and equity, $m
  38,108
  40,082
  42,151
  44,320
  46,594
  48,978
  51,480
  54,102
  56,854
  59,741
  62,770
  65,948
  69,282
  72,782
  76,454
  80,308
  84,353
  88,599
  93,056
  97,734
  102,644
  107,800
  113,210
  118,891
  124,854
  131,115
  137,687
  144,588
  151,833
  159,438
Debt-to-equity ratio
  1.260
  1.310
  1.360
  1.400
  1.450
  1.490
  1.520
  1.560
  1.590
  1.630
  1.660
  1.690
  1.720
  1.740
  1.770
  1.790
  1.810
  1.840
  1.860
  1.880
  1.890
  1.910
  1.930
  1.950
  1.960
  1.980
  1.990
  2.000
  2.020
  2.030
Adjusted equity ratio
  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

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  973
  1,063
  1,159
  1,260
  1,368
  1,481
  1,601
  1,728
  1,862
  2,004
  2,477
  2,636
  2,803
  2,981
  3,168
  3,365
  3,574
  3,795
  4,028
  4,273
  4,533
  4,807
  5,096
  5,400
  5,722
  6,061
  6,419
  6,797
  7,194
  7,614
Depreciation, amort., depletion, $m
  1,301
  1,345
  1,392
  1,441
  1,492
  1,546
  1,602
  1,661
  1,723
  1,788
  1,414
  1,485
  1,560
  1,639
  1,722
  1,809
  1,900
  1,995
  2,096
  2,201
  2,312
  2,428
  2,549
  2,677
  2,812
  2,953
  3,101
  3,256
  3,419
  3,591
Funds from operations, $m
  2,274
  2,409
  2,551
  2,701
  2,860
  3,027
  3,203
  3,389
  3,585
  3,792
  3,891
  4,121
  4,364
  4,620
  4,890
  5,174
  5,474
  5,790
  6,123
  6,474
  6,844
  7,234
  7,645
  8,078
  8,534
  9,014
  9,520
  10,053
  10,614
  11,205
Change in working capital, $m
  26
  27
  28
  30
  31
  33
  34
  36
  38
  40
  41
  44
  46
  48
  50
  53
  55
  58
  61
  64
  67
  71
  74
  78
  82
  86
  90
  95
  99
  104
Cash from operations, $m
  2,248
  2,382
  2,523
  2,671
  2,828
  2,994
  3,169
  3,353
  3,548
  3,753
  3,849
  4,077
  4,318
  4,572
  4,839
  5,121
  5,418
  5,732
  6,062
  6,410
  6,777
  7,164
  7,571
  8,000
  8,452
  8,928
  9,430
  9,958
  10,515
  11,100
Maintenance CAPEX, $m
  -816
  -858
  -903
  -949
  -998
  -1,049
  -1,103
  -1,159
  -1,218
  -1,280
  -1,345
  -1,414
  -1,485
  -1,560
  -1,639
  -1,722
  -1,809
  -1,900
  -1,995
  -2,096
  -2,201
  -2,312
  -2,428
  -2,549
  -2,677
  -2,812
  -2,953
  -3,101
  -3,256
  -3,419
New CAPEX, $m
  -1,275
  -1,334
  -1,398
  -1,465
  -1,536
  -1,611
  -1,690
  -1,772
  -1,859
  -1,950
  -2,046
  -2,147
  -2,253
  -2,364
  -2,481
  -2,604
  -2,733
  -2,868
  -3,011
  -3,160
  -3,318
  -3,482
  -3,656
  -3,838
  -4,029
  -4,230
  -4,441
  -4,662
  -4,894
  -5,139
Cash from investing activities, $m
  -2,091
  -2,192
  -2,301
  -2,414
  -2,534
  -2,660
  -2,793
  -2,931
  -3,077
  -3,230
  -3,391
  -3,561
  -3,738
  -3,924
  -4,120
  -4,326
  -4,542
  -4,768
  -5,006
  -5,256
  -5,519
  -5,794
  -6,084
  -6,387
  -6,706
  -7,042
  -7,394
  -7,763
  -8,150
  -8,558
Free cash flow, $m
  158
  190
  222
  257
  294
  334
  376
  422
  470
  522
  458
  517
  580
  647
  719
  796
  877
  964
  1,056
  1,154
  1,259
  1,370
  1,488
  1,613
  1,746
  1,887
  2,037
  2,196
  2,364
  2,543
Issuance/(repayment) of debt, $m
  1,313
  1,370
  1,436
  1,505
  1,578
  1,655
  1,736
  1,821
  1,910
  2,003
  2,102
  2,205
  2,314
  2,429
  2,549
  2,675
  2,807
  2,947
  3,093
  3,246
  3,408
  3,577
  3,755
  3,942
  4,139
  4,345
  4,561
  4,789
  5,028
  5,279
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  
  1,313
  1,370
  1,436
  1,505
  1,578
  1,655
  1,736
  1,821
  1,910
  2,003
  2,102
  2,205
  2,314
  2,429
  2,549
  2,675
  2,807
  2,947
  3,093
  3,246
  3,408
  3,577
  3,755
  3,942
  4,139
  4,345
  4,561
  4,789
  5,028
  5,279
Total cash flow (excl. dividends), $m
  1,470
  1,560
  1,658
  1,762
  1,872
  1,989
  2,112
  2,242
  2,380
  2,525
  2,560
  2,722
  2,894
  3,076
  3,268
  3,470
  3,684
  3,910
  4,149
  4,401
  4,666
  4,947
  5,243
  5,555
  5,884
  6,232
  6,598
  6,984
  7,392
  7,821
Retained Cash Flow (-), $m
  -575
  -604
  -633
  -664
  -696
  -730
  -765
  -803
  -842
  -883
  -927
  -972
  -1,020
  -1,071
  -1,124
  -1,179
  -1,238
  -1,299
  -1,364
  -1,431
  -1,503
  -1,577
  -1,656
  -1,738
  -1,825
  -1,916
  -2,011
  -2,112
  -2,217
  -2,327
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
  895
  956
  1,025
  1,098
  1,176
  1,259
  1,347
  1,439
  1,538
  1,642
  1,633
  1,750
  1,874
  2,005
  2,144
  2,291
  2,447
  2,611
  2,785
  2,969
  3,164
  3,370
  3,587
  3,817
  4,060
  4,316
  4,587
  4,873
  5,175
  5,494
Discount rate, %
  8.50
  8.93
  9.37
  9.84
  10.33
  10.85
  11.39
  11.96
  12.56
  13.19
  13.85
  14.54
  15.26
  16.03
  16.83
  17.67
  18.55
  19.48
  20.46
  21.48
  22.55
  23.68
  24.86
  26.11
  27.41
  28.78
  30.22
  31.73
  33.32
  34.99
PV of cash for distribution, $m
  825
  805
  783
  755
  719
  679
  633
  583
  530
  476
  392
  343
  296
  250
  208
  170
  136
  106
  81
  61
  44
  31
  22
  15
  10
  6
  4
  2
  1
  1
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

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company's electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses. Its electric transmission segment owns and maintains transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England. Its electric distribution segment consists of the distribution businesses of The Connecticut Light and Power Company (CL&P), NSTAR Electric Company (NSTAR Electric), Public Service Company of New Hampshire (PSNH) and Western Massachusetts Electric Company (WMECO). It also provides water utility services through its subsidiary, Aquarion.

FINANCIAL RATIOS  of  Eversource Energy (ES)

Valuation Ratios
P/E Ratio 22.3
Price to Sales 2.7
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 9.6
Price to Free Cash Flow 106
Growth Rates
Sales Growth Rate -4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.7%
Cap. Spend. - 3 Yr. Gr. Rate 6.3%
Financial Strength
Quick Ratio 0
Current Ratio 0.3
LT Debt to Equity 81.2%
Total Debt to Equity 98.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 3%
Ret/ On Assets - 3 Yr. Avg. 2.9%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.3%
Return On Equity 8.8%
Return On Equity - 3 Yr. Avg. 8.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 29.1%
EBITDA Margin - 3 Yr. Avg. 26.7%
Operating Margin 24.3%
Oper. Margin - 3 Yr. Avg. 22.5%
Pre-Tax Margin 19.7%
Pre-Tax Margin - 3 Yr. Avg. 18.1%
Net Profit Margin 12.3%
Net Profit Margin - 3 Yr. Avg. 11.3%
Effective Tax Rate 36.9%
Eff/ Tax Rate - 3 Yr. Avg. 37%
Payout Ratio 60.7%

ES stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ES stock intrinsic value calculation we used $7751.952 million for the last fiscal year's total revenue generated by Eversource Energy. The default revenue input number comes from 0001 income statement of Eversource Energy. 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 ES stock valuation model: a) initial revenue growth rate of 5.2% 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 8.5%, whose default value for ES is calculated based on our internal credit rating of Eversource Energy, 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 Eversource Energy.
    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 ES stock the variable cost ratio is equal to 48.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2135 million in the base year in the intrinsic value calculation for ES 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 Eversource Energy.

Corporate tax rate of 27% is the nominal tax rate for Eversource Energy. 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 ES 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 ES are equal to 315.7%.

Life of production assets of 34.2 years is the average useful life of capital assets used in Eversource Energy 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 ES is equal to 6.4%. 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 - $11086.242 million for Eversource Energy - 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 316.886 million for Eversource Energy 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 Eversource Energy at the current share price and the inputted number of shares is $21.0 billion.

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COMPANY NEWS

▶ What Did Eversource Energys (NYSE:ES) CEO Take Home Last Year?   [Nov-05-18 11:49AM  Simply Wall St.]
▶ Eversource: 3Q Earnings Snapshot   [04:52PM  Associated Press]
▶ 10 Top Utility Stocks to Buy for Safety and Dividends   [Oct-23-18 02:30PM  Kiplinger]
▶ Eversource Energy (NYSE:ES): Cash Is King   [Oct-13-18 10:39AM  Simply Wall St.]
▶ Lawsuit filed against gas company after Massachusetts blasts   [Sep-18-18 07:56PM  Associated Press]
▶ Why Eversource Energy (NYSE:ES) Is A Dividend Rockstar   [Sep-01-18 10:45AM  Simply Wall St.]
▶ [$$] Hull Street Buys Nine Hydroelectric Plants in New Hampshire   [Aug-27-18 12:01PM  The Wall Street Journal]
▶ Eversource: 2Q Earnings Snapshot   [04:21PM  Associated Press]
▶ 5 Utility Stocks Set to Outperform Q2 Earnings Estimates   [Jul-26-18 08:49AM  InvestorPlace]
▶ Eversource Energy to Discuss Second Quarter Results   [Jul-18-18 09:50AM  Business Wire]
▶ Deals of the day-Mergers and acquisitions   [Jul-13-18 05:23PM  Reuters]
▶ [$$] Connecticut Water Opens Door to Counter Offers in SJW Deal   [May-31-18 04:49PM  The Wall Street Journal]
▶ Survey asks why young people stay in, leave New Hampshire   [May-21-18 04:45PM  Associated Press]
▶ 3 Defensive Stocks to Weather an Uncertain Market   [May-11-18 02:33PM  Investopedia]
▶ Linda Forry Named Eversource Trustee   [May-03-18 03:00PM  Business Wire]
▶ Eversource: 1Q Earnings Snapshot   [May-02-18 05:38PM  Associated Press]
▶ Eversource Energy Files Preliminary Proxy Statement   [Apr-27-18 05:12PM  Business Wire]
▶ [$$] California Water Takes SJW Offer Public   [12:18PM  The Wall Street Journal]
▶ [$$] California Water Made Takeover Bid for SJW   [12:06AM  The Wall Street Journal]
▶ [$$] California Water Made Takeover Bid for SJW   [Apr-25-18 07:30PM  The Wall Street Journal]

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