Intrinsic value of EnviroStar - EVI

Previous Close

$30.60

  Intrinsic Value

$171.12

stock screener

  Rating & Target

str. buy

+459%

Previous close

$30.60

 
Intrinsic value

$171.12

 
Up/down potential

+459%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EVI 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 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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, %
  161.11
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  94
  150
  232
  348
  504
  711
  978
  1,313
  1,724
  2,218
  2,801
  3,479
  4,253
  5,127
  6,100
  7,172
  8,343
  9,610
  10,972
  12,426
  13,971
  15,604
  17,323
  19,127
  21,016
  22,989
  25,046
  27,189
  29,418
  31,735
  34,144
Variable operating expenses, $m
 
  136
  209
  311
  450
  634
  871
  1,169
  1,534
  1,973
  2,491
  3,091
  3,779
  4,554
  5,419
  6,372
  7,412
  8,538
  9,748
  11,040
  12,412
  13,862
  15,390
  16,993
  18,671
  20,424
  22,251
  24,154
  26,135
  28,194
  30,334
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
  89
  136
  209
  311
  450
  634
  871
  1,169
  1,534
  1,973
  2,491
  3,091
  3,779
  4,554
  5,419
  6,372
  7,412
  8,538
  9,748
  11,040
  12,412
  13,862
  15,390
  16,993
  18,671
  20,424
  22,251
  24,154
  26,135
  28,194
  30,334
Operating income, $m
  5
  14
  23
  36
  54
  77
  107
  144
  190
  245
  310
  388
  475
  572
  681
  800
  931
  1,072
  1,224
  1,387
  1,559
  1,741
  1,933
  2,135
  2,345
  2,565
  2,795
  3,034
  3,283
  3,542
  3,810
EBITDA, $m
  6
  17
  26
  40
  57
  81
  111
  150
  196
  253
  319
  396
  484
  584
  695
  817
  950
  1,095
  1,250
  1,415
  1,591
  1,777
  1,973
  2,179
  2,394
  2,619
  2,853
  3,097
  3,351
  3,615
  3,889
Interest expense (income), $m
  0
  0
  1
  1
  2
  4
  6
  8
  11
  15
  19
  24
  30
  37
  45
  54
  63
  74
  85
  97
  110
  124
  139
  154
  170
  187
  205
  223
  242
  262
  283
Earnings before tax, $m
  5
  14
  23
  35
  51
  73
  101
  136
  179
  230
  291
  364
  444
  535
  636
  747
  868
  999
  1,139
  1,289
  1,449
  1,617
  1,794
  1,980
  2,175
  2,378
  2,590
  2,811
  3,040
  3,279
  3,527
Tax expense, $m
  2
  4
  6
  9
  14
  20
  27
  37
  48
  62
  79
  98
  120
  144
  172
  202
  234
  270
  308
  348
  391
  437
  484
  535
  587
  642
  699
  759
  821
  885
  952
Net income, $m
  3
  10
  17
  26
  38
  53
  74
  99
  131
  168
  212
  266
  324
  390
  464
  545
  633
  729
  832
  941
  1,058
  1,180
  1,310
  1,446
  1,588
  1,736
  1,891
  2,052
  2,220
  2,394
  2,575

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  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
Total assets, $m
  57
  90
  138
  207
  300
  424
  582
  782
  1,027
  1,321
  1,669
  2,072
  2,533
  3,053
  3,633
  4,272
  4,969
  5,724
  6,535
  7,401
  8,321
  9,294
  10,317
  11,392
  12,517
  13,692
  14,917
  16,193
  17,521
  18,901
  20,336
Adjusted assets (=assets-cash), $m
  56
  90
  138
  207
  300
  424
  582
  782
  1,027
  1,321
  1,669
  2,072
  2,533
  3,053
  3,633
  4,272
  4,969
  5,724
  6,535
  7,401
  8,321
  9,294
  10,317
  11,392
  12,517
  13,692
  14,917
  16,193
  17,521
  18,901
  20,336
Revenue / Adjusted assets
  1.679
  1.667
  1.681
  1.681
  1.680
  1.677
  1.680
  1.679
  1.679
  1.679
  1.678
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
  1.679
Average production assets, $m
  4
  6
  9
  13
  19
  26
  36
  49
  64
  82
  104
  129
  157
  190
  226
  265
  309
  356
  406
  460
  517
  577
  641
  708
  778
  851
  927
  1,006
  1,088
  1,174
  1,263
Working capital, $m
  3
  5
  7
  11
  16
  23
  31
  42
  55
  71
  90
  111
  136
  164
  195
  230
  267
  308
  351
  398
  447
  499
  554
  612
  673
  736
  801
  870
  941
  1,016
  1,093
Total debt, $m
  4
  17
  38
  68
  108
  161
  229
  314
  419
  546
  695
  868
  1,066
  1,289
  1,537
  1,812
  2,111
  2,434
  2,782
  3,154
  3,549
  3,966
  4,405
  4,866
  5,349
  5,853
  6,379
  6,926
  7,495
  8,088
  8,703
Total liabilities, $m
  25
  38
  59
  89
  129
  182
  250
  335
  440
  567
  716
  889
  1,087
  1,310
  1,558
  1,833
  2,132
  2,455
  2,803
  3,175
  3,570
  3,987
  4,426
  4,887
  5,370
  5,874
  6,400
  6,947
  7,516
  8,109
  8,724
Total equity, $m
  32
  51
  79
  118
  171
  242
  333
  446
  586
  754
  953
  1,183
  1,446
  1,743
  2,074
  2,439
  2,837
  3,268
  3,731
  4,226
  4,751
  5,307
  5,891
  6,505
  7,147
  7,818
  8,518
  9,246
  10,004
  10,793
  11,612
Total liabilities and equity, $m
  57
  89
  138
  207
  300
  424
  583
  781
  1,026
  1,321
  1,669
  2,072
  2,533
  3,053
  3,632
  4,272
  4,969
  5,723
  6,534
  7,401
  8,321
  9,294
  10,317
  11,392
  12,517
  13,692
  14,918
  16,193
  17,520
  18,902
  20,336
Debt-to-equity ratio
  0.125
  0.340
  0.490
  0.570
  0.630
  0.660
  0.690
  0.700
  0.720
  0.720
  0.730
  0.730
  0.740
  0.740
  0.740
  0.740
  0.740
  0.740
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
Adjusted equity ratio
  0.554
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571
  0.571

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3
  10
  17
  26
  38
  53
  74
  99
  131
  168
  212
  266
  324
  390
  464
  545
  633
  729
  832
  941
  1,058
  1,180
  1,310
  1,446
  1,588
  1,736
  1,891
  2,052
  2,220
  2,394
  2,575
Depreciation, amort., depletion, $m
  1
  3
  3
  3
  4
  4
  5
  6
  6
  8
  9
  8
  10
  12
  14
  17
  19
  22
  25
  29
  32
  36
  40
  44
  49
  53
  58
  63
  68
  73
  79
Funds from operations, $m
  1
  13
  20
  29
  41
  58
  78
  105
  137
  176
  221
  274
  334
  402
  478
  562
  653
  751
  857
  970
  1,090
  1,217
  1,350
  1,490
  1,636
  1,789
  1,949
  2,115
  2,288
  2,467
  2,654
Change in working capital, $m
  -2
  2
  3
  4
  5
  7
  9
  11
  13
  16
  19
  22
  25
  28
  31
  34
  37
  41
  44
  47
  49
  52
  55
  58
  60
  63
  66
  69
  71
  74
  77
Cash from operations, $m
  3
  11
  17
  25
  36
  51
  70
  94
  124
  160
  203
  252
  309
  374
  447
  527
  615
  711
  813
  923
  1,040
  1,164
  1,295
  1,432
  1,576
  1,726
  1,883
  2,046
  2,216
  2,393
  2,577
Maintenance CAPEX, $m
  0
  0
  0
  -1
  -1
  -1
  -2
  -2
  -3
  -4
  -5
  -6
  -8
  -10
  -12
  -14
  -17
  -19
  -22
  -25
  -29
  -32
  -36
  -40
  -44
  -49
  -53
  -58
  -63
  -68
  -73
New CAPEX, $m
  0
  -2
  -3
  -4
  -6
  -8
  -10
  -12
  -15
  -18
  -22
  -25
  -29
  -32
  -36
  -40
  -43
  -47
  -50
  -54
  -57
  -60
  -64
  -67
  -70
  -73
  -76
  -79
  -82
  -86
  -89
Cash from investing activities, $m
  -15
  -2
  -3
  -5
  -7
  -9
  -12
  -14
  -18
  -22
  -27
  -31
  -37
  -42
  -48
  -54
  -60
  -66
  -72
  -79
  -86
  -92
  -100
  -107
  -114
  -122
  -129
  -137
  -145
  -154
  -162
Free cash flow, $m
  -12
  9
  14
  20
  30
  42
  58
  79
  106
  138
  176
  220
  273
  332
  399
  473
  555
  644
  741
  844
  955
  1,072
  1,195
  1,325
  1,462
  1,605
  1,754
  1,909
  2,071
  2,239
  2,414
Issuance/(repayment) of debt, $m
  4
  14
  21
  29
  40
  53
  68
  86
  105
  126
  149
  173
  198
  223
  249
  274
  299
  324
  348
  372
  395
  417
  439
  461
  483
  504
  526
  547
  570
  592
  615
Issuance/(repurchase) of shares, $m
  6
  9
  11
  14
  16
  17
  17
  15
  9
  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  
  10
  23
  32
  43
  56
  70
  85
  101
  114
  126
  149
  173
  198
  223
  249
  274
  299
  324
  348
  372
  395
  417
  439
  461
  483
  504
  526
  547
  570
  592
  615
Total cash flow (excl. dividends), $m
  -2
  32
  46
  63
  85
  112
  144
  180
  220
  264
  325
  394
  471
  555
  648
  747
  854
  968
  1,089
  1,216
  1,349
  1,489
  1,635
  1,786
  1,944
  2,109
  2,279
  2,456
  2,640
  2,831
  3,030
Retained Cash Flow (-), $m
  -27
  -19
  -28
  -39
  -53
  -70
  -91
  -114
  -140
  -168
  -198
  -230
  -263
  -297
  -331
  -365
  -398
  -431
  -463
  -495
  -525
  -555
  -585
  -614
  -642
  -671
  -700
  -729
  -758
  -788
  -819
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
 
  13
  18
  24
  32
  42
  53
  66
  80
  96
  127
  163
  207
  258
  317
  383
  456
  537
  626
  721
  824
  934
  1,050
  1,173
  1,302
  1,438
  1,580
  1,728
  1,882
  2,043
  2,211
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
 
  13
  16
  21
  26
  32
  38
  44
  50
  55
  66
  77
  88
  98
  106
  112
  116
  117
  115
  111
  105
  97
  87
  77
  66
  56
  46
  37
  29
  22
  17
Current shareholders' claim on cash, %
  100
  97.3
  95.2
  93.6
  92.4
  91.5
  90.8
  90.4
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3
  90.3

EnviroStar, Inc., through its subsidiary, Steiner-Atlantic Corp., distributes commercial and industrial laundry and dry cleaning equipment, and steam and hot water boilers manufactured by others; supplies replacement parts and accessories, and provides maintenance services to its customers, and designs and plans turnkey laundry, dry cleaning and boiler systems for its institutional, retail, industrial and commercial customers. The Company, through its subsidiary, DRYCLEAN USA License Corp. owns rights to the name DRYCLEAN USA, which it franchises and licenses to retail drycleaners in the United States, the Caribbean and Latin America. It sells a line of commercial and industrial laundry and dry cleaning equipment and steam and hot water boilers manufactured by others, as well as related replacement parts and accessories, and provides maintenance services. It also sells replacement parts and accessories for the products it sells and provides maintenance services to its customers.

FINANCIAL RATIOS  of  EnviroStar (EVI)

Valuation Ratios
P/E Ratio 106.8
Price to Sales 3.4
Price to Book 10
Price to Tangible Book
Price to Cash Flow 106.8
Price to Free Cash Flow 106.8
Growth Rates
Sales Growth Rate 161.1%
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 1
Current Ratio 0.1
LT Debt to Equity 9.4%
Total Debt to Equity 12.5%
Interest Coverage 0
Management Effectiveness
Return On Assets 9%
Ret/ On Assets - 3 Yr. Avg. 15.8%
Return On Total Capital 14.6%
Ret/ On T. Cap. - 3 Yr. Avg. 33%
Return On Equity 16.2%
Return On Equity - 3 Yr. Avg. 33.6%
Asset Turnover 2.8
Profitability Ratios
Gross Margin 21.3%
Gross Margin - 3 Yr. Avg. 23.1%
EBITDA Margin 6.4%
EBITDA Margin - 3 Yr. Avg. 8.1%
Operating Margin 5.3%
Oper. Margin - 3 Yr. Avg. 7.8%
Pre-Tax Margin 5.3%
Pre-Tax Margin - 3 Yr. Avg. 7.8%
Net Profit Margin 3.2%
Net Profit Margin - 3 Yr. Avg. 5.1%
Effective Tax Rate 40%
Eff/ Tax Rate - 3 Yr. Avg. 35.6%
Payout Ratio 33.3%

EVI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EVI stock intrinsic value calculation we used $94 million for the last fiscal year's total revenue generated by EnviroStar. The default revenue input number comes from 2017 income statement of EnviroStar. 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 EVI stock valuation model: a) initial revenue growth rate of 60% 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 EVI is calculated based on our internal credit rating of EnviroStar, 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 EnviroStar.
    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 EVI stock the variable cost ratio is equal to 91.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for EVI 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 3.5% for EnviroStar.

Corporate tax rate of 27% is the nominal tax rate for EnviroStar. 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 EVI 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 EVI are equal to 3.7%.

Life of production assets of 16 years is the average useful life of capital assets used in EnviroStar 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 EVI is equal to 3.2%. 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 - $32 million for EnviroStar - 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 10.468 million for EnviroStar 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 EnviroStar at the current share price and the inputted number of shares is $0.3 billion.

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COMPANY NEWS

▶ EnviroStar, Inc. to Acquire AAdvantage Laundry Systems   [Dec-11-17 09:16AM  Business Wire]
▶ 3 Stocks That Turned $8,000 Into $125,000 in 5 Years   [Oct-09-17 01:12PM  Motley Fool]
▶ EnviroStar, Inc. (EVI) Announces Record Year End Results   [Sep-28-17 04:28PM  Business Wire]
▶ EnviroStar, Inc. Update on Operations After Hurricane Irma   [Sep-13-17 12:13PM  Business Wire]
▶ ETFs with exposure to EnviroStar, Inc. : May 22, 2017   [May-22-17 01:38PM  Capital Cube]
▶ ETFs with exposure to EnviroStar, Inc. : April 25, 2017   [Apr-25-17 03:32PM  Capital Cube]
▶ ETFs with exposure to EnviroStar, Inc. : April 7, 2017   [Apr-07-17 04:28PM  Capital Cube]
▶ LD Micro Index Reconstitution as of February 1, 2017   [Feb-01-17 09:45AM  Accesswire]
▶ EnviroStar, Inc. Announces a Special Cash Dividend   [Nov-30-16 11:00AM  Business Wire]
▶ EnviroStar, Inc. Announces Year End Results   [09:00AM  Business Wire]
▶ EnviroStar, Inc. Announces Year End Results   [Sep-21  09:00AM  Business Wire]
▶ 10-Q for EnviroStar, Inc.   [May-18  08:12PM  at Company Spotlight]
▶ EnviroStar, Inc. Appoints a New Director   [09:00AM  Business Wire]
▶ 10-Q for EnviroStar, Inc.   [Feb-15  07:07PM  at Company Spotlight]
▶ 10-Q for EnviroStar, Inc.   [Nov-17  07:09PM  Company Spotlight]
▶ 10-K for EnviroStar, Inc.   [Sep-24  08:08PM  Company Spotlight]
▶ ENVIROSTAR, INC. Files SEC form 10-K, Annual Report   [Sep-22  01:10PM  EDGAR Online]
▶ EnviroStar, Inc. Announces Year End Results   [01:00PM  Business Wire]
▶ ENVIROSTAR, INC. Files SEC form 10-Q, Quarterly Report   [May-12  09:32AM  EDGAR Online]
▶ ENVIROSTAR, INC. Files SEC form 8-K, Other Events   [Apr-17  05:04PM  EDGAR Online]
Financial statements of EVI
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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