Intrinsic value of FireEye - FEYE

Previous Close

$16.81

  Intrinsic Value

$0.20

stock screener

  Rating & Target

str. sell

-99%

Previous close

$16.81

 
Intrinsic value

$0.20

 
Up/down potential

-99%

 
Rating

str. sell

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

We calculate the intrinsic value of FEYE 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 2016), $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 3.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.61
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.11
  5.09
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
Revenue, $m
  714
  755
  797
  842
  888
  936
  987
  1,040
  1,096
  1,154
  1,215
  1,278
  1,345
  1,415
  1,488
  1,565
  1,645
  1,730
  1,818
  1,911
  2,008
  2,111
  2,218
  2,330
  2,448
  2,572
  2,702
  2,838
  2,981
  3,131
  3,289
Variable operating expenses, $m
 
  268
  278
  288
  298
  309
  321
  333
  345
  359
  372
  289
  304
  320
  336
  354
  372
  391
  411
  432
  454
  477
  501
  527
  553
  581
  611
  641
  674
  708
  743
Fixed operating expenses, $m
 
  951
  975
  999
  1,024
  1,050
  1,076
  1,103
  1,131
  1,159
  1,188
  1,218
  1,248
  1,279
  1,311
  1,344
  1,378
  1,412
  1,447
  1,484
  1,521
  1,559
  1,598
  1,638
  1,678
  1,720
  1,763
  1,808
  1,853
  1,899
  1,947
Total operating expenses, $m
  1,158
  1,219
  1,253
  1,287
  1,322
  1,359
  1,397
  1,436
  1,476
  1,518
  1,560
  1,507
  1,552
  1,599
  1,647
  1,698
  1,750
  1,803
  1,858
  1,916
  1,975
  2,036
  2,099
  2,165
  2,231
  2,301
  2,374
  2,449
  2,527
  2,607
  2,690
Operating income, $m
  -444
  -465
  -456
  -446
  -435
  -423
  -410
  -396
  -380
  -364
  -346
  -228
  -207
  -184
  -159
  -133
  -104
  -73
  -40
  -4
  34
  75
  119
  166
  216
  270
  328
  389
  455
  524
  599
EBITDA, $m
  -325
  -335
  -324
  -312
  -299
  -285
  -270
  -254
  -236
  -217
  -196
  -174
  -150
  -124
  -96
  -66
  -34
  1
  38
  77
  120
  165
  214
  266
  321
  380
  443
  510
  582
  658
  740
Interest expense (income), $m
  12
  26
  20
  23
  26
  29
  32
  35
  38
  42
  46
  50
  54
  58
  62
  67
  72
  77
  83
  88
  94
  100
  107
  114
  121
  128
  136
  145
  153
  162
  172
Earnings before tax, $m
  -489
  -491
  -476
  -469
  -461
  -452
  -442
  -431
  -419
  -406
  -391
  -278
  -261
  -242
  -222
  -200
  -176
  -150
  -123
  -93
  -60
  -25
  12
  52
  95
  142
  191
  244
  301
  362
  427
Tax expense, $m
  -9
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  3
  14
  26
  38
  52
  66
  81
  98
  115
Net income, $m
  -480
  -491
  -476
  -469
  -461
  -452
  -442
  -431
  -419
  -406
  -391
  -278
  -261
  -242
  -222
  -200
  -176
  -150
  -123
  -93
  -60
  -25
  9
  38
  70
  103
  140
  178
  220
  264
  312

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  936
  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
  2,383
  1,531
  1,617
  1,707
  1,801
  1,899
  2,002
  2,110
  2,222
  2,340
  2,464
  2,593
  2,728
  2,870
  3,018
  3,174
  3,337
  3,509
  3,688
  3,877
  4,074
  4,281
  4,498
  4,727
  4,966
  5,217
  5,480
  5,757
  6,047
  6,352
  6,671
Adjusted assets (=assets-cash), $m
  1,447
  1,531
  1,617
  1,707
  1,801
  1,899
  2,002
  2,110
  2,222
  2,340
  2,464
  2,593
  2,728
  2,870
  3,018
  3,174
  3,337
  3,509
  3,688
  3,877
  4,074
  4,281
  4,498
  4,727
  4,966
  5,217
  5,480
  5,757
  6,047
  6,352
  6,671
Revenue / Adjusted assets
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
  0.493
Average production assets, $m
  300
  316
  334
  353
  372
  392
  414
  436
  459
  483
  509
  536
  564
  593
  624
  656
  689
  725
  762
  801
  842
  884
  929
  976
  1,026
  1,078
  1,132
  1,189
  1,249
  1,312
  1,378
Working capital, $m
  552
  -406
  -429
  -453
  -478
  -504
  -531
  -560
  -589
  -621
  -653
  -688
  -724
  -761
  -801
  -842
  -885
  -931
  -978
  -1,028
  -1,081
  -1,136
  -1,193
  -1,254
  -1,317
  -1,384
  -1,454
  -1,527
  -1,604
  -1,685
  -1,769
Total debt, $m
  742
  578
  655
  736
  821
  909
  1,002
  1,099
  1,200
  1,306
  1,417
  1,533
  1,655
  1,783
  1,917
  2,057
  2,204
  2,358
  2,519
  2,689
  2,867
  3,053
  3,249
  3,454
  3,669
  3,895
  4,132
  4,381
  4,642
  4,916
  5,204
Total liabilities, $m
  1,542
  1,378
  1,455
  1,536
  1,621
  1,709
  1,802
  1,899
  2,000
  2,106
  2,217
  2,333
  2,455
  2,583
  2,717
  2,857
  3,004
  3,158
  3,319
  3,489
  3,667
  3,853
  4,049
  4,254
  4,469
  4,695
  4,932
  5,181
  5,442
  5,716
  6,004
Total equity, $m
  841
  153
  162
  171
  180
  190
  200
  211
  222
  234
  246
  259
  273
  287
  302
  317
  334
  351
  369
  388
  407
  428
  450
  473
  497
  522
  548
  576
  605
  635
  667
Total liabilities and equity, $m
  2,383
  1,531
  1,617
  1,707
  1,801
  1,899
  2,002
  2,110
  2,222
  2,340
  2,463
  2,592
  2,728
  2,870
  3,019
  3,174
  3,338
  3,509
  3,688
  3,877
  4,074
  4,281
  4,499
  4,727
  4,966
  5,217
  5,480
  5,757
  6,047
  6,351
  6,671
Debt-to-equity ratio
  0.882
  3.770
  4.050
  4.310
  4.560
  4.790
  5.000
  5.210
  5.400
  5.580
  5.750
  5.910
  6.070
  6.210
  6.350
  6.480
  6.600
  6.720
  6.830
  6.940
  7.040
  7.130
  7.220
  7.310
  7.390
  7.470
  7.540
  7.610
  7.680
  7.740
  7.800
Adjusted equity ratio
  -0.066
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -480
  -491
  -476
  -469
  -461
  -452
  -442
  -431
  -419
  -406
  -391
  -278
  -261
  -242
  -222
  -200
  -176
  -150
  -123
  -93
  -60
  -25
  9
  38
  70
  103
  140
  178
  220
  264
  312
Depreciation, amort., depletion, $m
  119
  130
  132
  134
  136
  138
  140
  142
  145
  147
  150
  55
  58
  60
  64
  67
  70
  74
  78
  82
  86
  90
  95
  100
  105
  110
  116
  121
  127
  134
  141
Funds from operations, $m
  132
  -361
  -344
  -335
  -325
  -314
  -302
  -289
  -274
  -259
  -242
  -223
  -203
  -182
  -158
  -133
  -106
  -76
  -45
  -11
  26
  65
  104
  138
  174
  213
  255
  300
  347
  398
  452
Change in working capital, $m
  147
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -34
  -36
  -38
  -39
  -41
  -43
  -45
  -48
  -50
  -52
  -55
  -58
  -60
  -63
  -67
  -70
  -73
  -77
  -81
  -85
Cash from operations, $m
  -15
  -339
  -321
  -311
  -300
  -288
  -275
  -260
  -244
  -227
  -209
  -189
  -167
  -144
  -119
  -92
  -62
  -31
  3
  39
  78
  120
  161
  198
  238
  280
  325
  373
  424
  479
  537
Maintenance CAPEX, $m
  0
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -47
  -49
  -52
  -55
  -58
  -60
  -64
  -67
  -70
  -74
  -78
  -82
  -86
  -90
  -95
  -100
  -105
  -110
  -116
  -121
  -127
  -134
New CAPEX, $m
  -36
  -17
  -18
  -19
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
Cash from investing activities, $m
  -190
  -48
  -50
  -53
  -55
  -58
  -61
  -64
  -67
  -71
  -74
  -79
  -83
  -87
  -91
  -96
  -101
  -105
  -111
  -117
  -123
  -129
  -135
  -142
  -149
  -157
  -164
  -173
  -181
  -190
  -200
Free cash flow, $m
  -205
  -386
  -371
  -364
  -355
  -346
  -336
  -325
  -312
  -299
  -284
  -268
  -250
  -231
  -210
  -188
  -163
  -137
  -108
  -78
  -44
  -9
  26
  56
  89
  123
  161
  200
  243
  289
  337
Issuance/(repayment) of debt, $m
  -9
  -164
  78
  81
  85
  88
  93
  97
  101
  106
  111
  116
  122
  128
  134
  140
  147
  154
  162
  169
  178
  186
  196
  205
  215
  226
  237
  249
  261
  274
  288
Issuance/(repurchase) of shares, $m
  13
  739
  485
  478
  470
  462
  452
  442
  430
  418
  404
  291
  274
  256
  237
  215
  192
  168
  141
  111
  80
  46
  13
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  26
  575
  563
  559
  555
  550
  545
  539
  531
  524
  515
  407
  396
  384
  371
  355
  339
  322
  303
  280
  258
  232
  209
  205
  215
  226
  237
  249
  261
  274
  288
Total cash flow (excl. dividends), $m
  -178
  189
  191
  195
  199
  204
  209
  214
  219
  225
  231
  139
  146
  153
  160
  168
  176
  185
  194
  203
  213
  224
  235
  262
  304
  349
  398
  449
  504
  563
  625
Retained Cash Flow (-), $m
  203
  -739
  -485
  -478
  -470
  -462
  -452
  -442
  -430
  -418
  -404
  -291
  -274
  -256
  -237
  -215
  -192
  -168
  -141
  -111
  -80
  -46
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -32
Prev. year cash balance distribution, $m
 
  936
  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
 
  386
  -294
  -283
  -271
  -258
  -243
  -228
  -211
  -193
  -173
  -151
  -128
  -103
  -76
  -47
  -16
  17
  53
  92
  133
  178
  213
  239
  280
  324
  371
  422
  475
  532
  593
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
 
  370
  -269
  -246
  -223
  -200
  -177
  -154
  -132
  -111
  -91
  -72
  -55
  -39
  -26
  -14
  -4
  4
  10
  14
  17
  18
  18
  16
  14
  13
  11
  9
  7
  6
  4
Current shareholders' claim on cash, %
  100
  50.0
  26.7
  14.8
  8.4
  4.9
  3.0
  1.9
  1.2
  0.8
  0.5
  0.4
  0.3
  0.2
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1

FireEye, Inc. provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series). Its Subscription and Services offers Threat Intelligence Subscriptions, Security-as-a-Service Offerings, and Customer Support and Maintenance Services.

FINANCIAL RATIOS  of  FireEye (FEYE)

Valuation Ratios
P/E Ratio -6.1
Price to Sales 4.1
Price to Book 3.5
Price to Tangible Book
Price to Cash Flow -195.7
Price to Free Cash Flow -57.5
Growth Rates
Sales Growth Rate 14.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -34.5%
Cap. Spend. - 3 Yr. Gr. Rate -9.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 88.2%
Total Debt to Equity 88.2%
Interest Coverage -40
Management Effectiveness
Return On Assets -19.4%
Ret/ On Assets - 3 Yr. Avg. -24.4%
Return On Total Capital -28.8%
Ret/ On T. Cap. - 3 Yr. Avg. -34.4%
Return On Equity -50.9%
Return On Equity - 3 Yr. Avg. -45.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 61.9%
Gross Margin - 3 Yr. Avg. 61.1%
EBITDA Margin -50.1%
EBITDA Margin - 3 Yr. Avg. -69.2%
Operating Margin -62.2%
Oper. Margin - 3 Yr. Avg. -85.4%
Pre-Tax Margin -68.5%
Pre-Tax Margin - 3 Yr. Avg. -89%
Net Profit Margin -67.2%
Net Profit Margin - 3 Yr. Avg. -86%
Effective Tax Rate 1.8%
Eff/ Tax Rate - 3 Yr. Avg. 2.9%
Payout Ratio 0%

FEYE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FEYE stock intrinsic value calculation we used $714 million for the last fiscal year's total revenue generated by FireEye. The default revenue input number comes from 2016 income statement of FireEye. 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 FEYE stock valuation model: a) initial revenue growth rate of 5.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for FEYE is calculated based on our internal credit rating of FireEye, 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 FireEye.
    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 FEYE stock the variable cost ratio is equal to 36.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $928 million in the base year in the intrinsic value calculation for FEYE 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 FireEye.

Corporate tax rate of 27% is the nominal tax rate for FireEye. 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 FEYE 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 FEYE are equal to 41.9%.

Life of production assets of 9.8 years is the average useful life of capital assets used in FireEye 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 FEYE is equal to -53.8%. 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 - $841 million for FireEye - 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 182.035 million for FireEye 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 FireEye at the current share price and the inputted number of shares is $3.1 billion.

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COMPANY NEWS

▶ What I'm Watching When FireEye Reports Earnings   [Oct-21-17 10:05AM  Motley Fool]
▶ Inside FireEyes Value Proposition in the Cybersecurity Space   [Oct-09-17 10:36AM  Market Realist]
▶ Behind FireEyes Moving Averages   [07:36AM  Market Realist]
▶ Better Buy: FireEye vs. Check Point Software   [Oct-06-17 04:09PM  Motley Fool]
▶ Understanding FireEyes Stock Surge This Year   [10:35AM  Market Realist]
▶ How FireEyes CEO Is Approaching the Security Field   [Oct-04-17 10:37AM  Market Realist]
▶ What Else Is Affecting Equifax Stock?   [07:41AM  Market Realist]
▶ Understanding Equifaxs Historic Data Breach   [09:14AM  Market Realist]
▶ Why the Equifax Data Breach Matters so Much   [07:43AM  Market Realist]
▶ Bitcoin Becomes Part Of North Koreas Geopolitical Arsenal   [Oct-01-17 12:59AM  Oilprice.com]
▶ Analyzing Zyngas Fundamentals   [Sep-29-17 07:40AM  Market Realist]
▶ ETFs with exposure to FireEye, Inc. : September 26, 2017   [Sep-26-17 10:51AM  Capital Cube]
▶ Top Stock Picks for the Week of September 25th   [Sep-25-17 03:48PM  Zacks]
▶ Ride FireEye Inc (FEYE) Momentum All the Way to $30   [Sep-22-17 07:26AM  InvestorPlace]
▶ [$$] Hackers Entered Equifax Systems in March   [Sep-21-17 05:20PM  The Wall Street Journal]
▶ [$$] Hackers Entered Equifax Systems in March   [Sep-20-17 08:00PM  The Wall Street Journal]
▶ Forget the Bears Buy FireEye (FEYE) Stock!   [06:06AM  InvestorPlace]
▶ [$$] Equifax Discloses Earlier Cybersecurity Incident   [Sep-18-17 10:50PM  The Wall Street Journal]
▶ Checking In on FireEye Inc.'s Turnaround   [07:37PM  Motley Fool]
▶ Don't Get Greedy With FireEye, Inc. Stock   [Sep-15-17 12:00PM  Motley Fool]
▶ [$$] Hackers Latest Weapon: Cyber Extortion   [Sep-14-17 01:03AM  The Wall Street Journal]
▶ ETFs with exposure to FireEye, Inc. : September 13, 2017   [Sep-13-17 06:11PM  Capital Cube]
▶ [$$] Hackers' Latest Weapon: Cyber Extortion   [05:30AM  The Wall Street Journal]
▶ [$$] Equifax Breach to Lift Three Stocks   [Sep-12-17 03:41PM  Barrons.com]
▶ North Korea Hackers Step Up Bitcoin Attacks   [Sep-11-17 04:00PM  Bloomberg]
▶ Cybersecurity Stock Eyes Breakout After Equifax Hack   [10:56AM  Investor's Business Daily]
▶ These Cybersecurity Stocks Are Rising On Equifax's Mass Hack   [Sep-08-17 04:21PM  Investor's Business Daily]
▶ What Is FireEye Incs (FEYE) Share Price Doing?   [09:32AM  Simply Wall St.]
▶ What Makes FireEye Management Optimistic?   [09:06AM  Market Realist]
▶ How FireEyes Services Business Fared in 2Q17   [07:36AM  Market Realist]
▶ FireEye Clears Technical Benchmark, Hitting 80-Plus RS Rating   [03:00AM  Investor's Business Daily]
Financial statements of FEYE
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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