Intrinsic value of Keane Group - FRAC

Previous Close

$13.23

  Intrinsic Value

$130.77

stock screener

  Rating & Target

str. buy

+888%

Previous close

$13.23

 
Intrinsic value

$130.77

 
Up/down potential

+888%

 
Rating

str. buy

We calculate the intrinsic value of FRAC 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 1.4

 

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, %
  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
  2,467
  3,812
  5,701
  8,271
  11,670
  16,043
  21,534
  28,276
  36,384
  45,956
  57,067
  69,770
  84,097
  100,058
  117,651
  136,856
  157,647
  179,989
  203,847
  229,185
  255,969
  284,171
  313,771
  344,755
  377,118
  410,864
  446,008
  482,572
  520,591
  560,107
Variable operating expenses, $m
  2,078
  3,200
  4,777
  6,922
  9,758
  13,408
  17,991
  23,617
  30,384
  38,372
  47,625
  58,227
  70,183
  83,503
  98,185
  114,213
  131,564
  150,210
  170,120
  191,266
  213,618
  237,155
  261,858
  287,715
  314,723
  342,886
  372,215
  402,730
  434,459
  467,437
Fixed operating expenses, $m
  223
  228
  233
  238
  243
  248
  254
  259
  265
  271
  277
  283
  289
  296
  302
  309
  316
  323
  330
  337
  344
  352
  360
  368
  376
  384
  392
  401
  410
  419
Total operating expenses, $m
  2,301
  3,428
  5,010
  7,160
  10,001
  13,656
  18,245
  23,876
  30,649
  38,643
  47,902
  58,510
  70,472
  83,799
  98,487
  114,522
  131,880
  150,533
  170,450
  191,603
  213,962
  237,507
  262,218
  288,083
  315,099
  343,270
  372,607
  403,131
  434,869
  467,856
Operating income, $m
  166
  384
  691
  1,111
  1,668
  2,387
  3,290
  4,400
  5,735
  7,313
  9,165
  11,261
  13,625
  16,259
  19,163
  22,334
  25,767
  29,457
  33,397
  37,582
  42,006
  46,665
  51,554
  56,673
  62,019
  67,594
  73,400
  79,441
  85,723
  92,252
EBITDA, $m
  269
  533
  904
  1,412
  2,084
  2,951
  4,041
  5,380
  6,992
  8,895
  11,105
  13,633
  16,484
  19,661
  23,163
  26,987
  31,127
  35,577
  40,328
  45,374
  50,709
  56,327
  62,223
  68,394
  74,841
  81,564
  88,565
  95,849
  103,423
  111,295
Interest expense (income), $m
  0
  60
  153
  326
  568
  899
  1,335
  1,897
  2,603
  3,469
  4,511
  5,741
  7,168
  8,800
  10,641
  12,692
  14,952
  17,420
  20,091
  22,962
  26,027
  29,283
  32,724
  36,348
  40,151
  44,132
  48,290
  52,626
  57,141
  61,839
  66,724
Earnings before tax, $m
  107
  231
  365
  543
  770
  1,051
  1,393
  1,797
  2,266
  2,803
  3,424
  4,092
  4,824
  5,618
  6,471
  7,382
  8,347
  9,366
  10,435
  11,555
  12,723
  13,941
  15,207
  16,522
  17,887
  19,304
  20,775
  22,300
  23,884
  25,528
Tax expense, $m
  29
  62
  99
  147
  208
  284
  376
  485
  612
  757
  925
  1,105
  1,303
  1,517
  1,747
  1,993
  2,254
  2,529
  2,818
  3,120
  3,435
  3,764
  4,106
  4,461
  4,830
  5,212
  5,609
  6,021
  6,449
  6,893
Net income, $m
  78
  168
  267
  396
  562
  767
  1,017
  1,312
  1,654
  2,046
  2,500
  2,987
  3,522
  4,101
  4,724
  5,389
  6,094
  6,837
  7,618
  8,435
  9,288
  10,177
  11,101
  12,061
  13,058
  14,092
  15,165
  16,279
  17,435
  18,635

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
  1,669
  2,579
  3,857
  5,596
  7,896
  10,854
  14,570
  19,131
  24,617
  31,094
  38,611
  47,206
  56,899
  67,698
  79,601
  92,595
  106,662
  121,779
  137,921
  155,064
  173,186
  192,268
  212,295
  233,258
  255,154
  277,986
  301,764
  326,504
  352,227
  378,963
Adjusted assets (=assets-cash), $m
  1,669
  2,579
  3,857
  5,596
  7,896
  10,854
  14,570
  19,131
  24,617
  31,094
  38,611
  47,206
  56,899
  67,698
  79,601
  92,595
  106,662
  121,779
  137,921
  155,064
  173,186
  192,268
  212,295
  233,258
  255,154
  277,986
  301,764
  326,504
  352,227
  378,963
Revenue / Adjusted assets
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
  1.478
Average production assets, $m
  839
  1,296
  1,938
  2,812
  3,968
  5,455
  7,322
  9,614
  12,371
  15,625
  19,403
  23,722
  28,593
  34,020
  40,001
  46,531
  53,600
  61,196
  69,308
  77,923
  87,029
  96,618
  106,682
  117,217
  128,220
  139,694
  151,643
  164,075
  177,001
  190,436
Working capital, $m
  -94
  -145
  -217
  -314
  -443
  -610
  -818
  -1,074
  -1,383
  -1,746
  -2,169
  -2,651
  -3,196
  -3,802
  -4,471
  -5,201
  -5,991
  -6,840
  -7,746
  -8,709
  -9,727
  -10,799
  -11,923
  -13,101
  -14,330
  -15,613
  -16,948
  -18,338
  -19,782
  -21,284
Total debt, $m
  725
  1,544
  2,694
  4,259
  6,329
  8,992
  12,336
  16,441
  21,378
  27,207
  33,973
  41,708
  50,432
  60,151
  70,864
  82,559
  95,219
  108,824
  123,352
  138,780
  155,090
  172,264
  190,288
  209,155
  228,862
  249,411
  270,811
  293,076
  316,227
  340,290
Total liabilities, $m
  1,502
  2,321
  3,471
  5,037
  7,106
  9,769
  13,113
  17,218
  22,155
  27,984
  34,750
  42,485
  51,209
  60,929
  71,641
  83,336
  95,996
  109,601
  124,129
  139,558
  155,867
  173,041
  191,065
  209,932
  229,639
  250,188
  271,588
  293,853
  317,004
  341,067
Total equity, $m
  167
  258
  386
  560
  790
  1,085
  1,457
  1,913
  2,462
  3,109
  3,861
  4,721
  5,690
  6,770
  7,960
  9,260
  10,666
  12,178
  13,792
  15,506
  17,319
  19,227
  21,229
  23,326
  25,515
  27,799
  30,176
  32,650
  35,223
  37,896
Total liabilities and equity, $m
  1,669
  2,579
  3,857
  5,597
  7,896
  10,854
  14,570
  19,131
  24,617
  31,093
  38,611
  47,206
  56,899
  67,699
  79,601
  92,596
  106,662
  121,779
  137,921
  155,064
  173,186
  192,268
  212,294
  233,258
  255,154
  277,987
  301,764
  326,503
  352,227
  378,963
Debt-to-equity ratio
  4.340
  5.990
  6.990
  7.610
  8.020
  8.280
  8.470
  8.590
  8.680
  8.750
  8.800
  8.840
  8.860
  8.890
  8.900
  8.920
  8.930
  8.940
  8.940
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
Adjusted equity ratio
  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
  78
  168
  267
  396
  562
  767
  1,017
  1,312
  1,654
  2,046
  2,500
  2,987
  3,522
  4,101
  4,724
  5,389
  6,094
  6,837
  7,618
  8,435
  9,288
  10,177
  11,101
  12,061
  13,058
  14,092
  15,165
  16,279
  17,435
  18,635
Depreciation, amort., depletion, $m
  103
  149
  213
  300
  416
  565
  751
  981
  1,256
  1,582
  1,940
  2,372
  2,859
  3,402
  4,000
  4,653
  5,360
  6,120
  6,931
  7,792
  8,703
  9,662
  10,668
  11,722
  12,822
  13,969
  15,164
  16,407
  17,700
  19,044
Funds from operations, $m
  181
  317
  480
  697
  978
  1,332
  1,768
  2,292
  2,911
  3,628
  4,440
  5,360
  6,381
  7,503
  8,724
  10,042
  11,454
  12,957
  14,549
  16,227
  17,991
  19,839
  21,769
  23,783
  25,880
  28,062
  30,330
  32,687
  35,135
  37,679
Change in working capital, $m
  -35
  -51
  -72
  -98
  -129
  -166
  -209
  -256
  -308
  -364
  -422
  -483
  -544
  -607
  -669
  -730
  -790
  -849
  -907
  -963
  -1,018
  -1,072
  -1,125
  -1,177
  -1,230
  -1,282
  -1,335
  -1,389
  -1,445
  -1,502
Cash from operations, $m
  216
  368
  552
  795
  1,107
  1,498
  1,977
  2,548
  3,219
  3,991
  4,862
  5,842
  6,925
  8,110
  9,393
  10,772
  12,244
  13,806
  15,455
  17,190
  19,009
  20,910
  22,894
  24,960
  27,110
  29,344
  31,665
  34,076
  36,580
  39,181
Maintenance CAPEX, $m
  -52
  -84
  -130
  -194
  -281
  -397
  -545
  -732
  -961
  -1,237
  -1,563
  -1,940
  -2,372
  -2,859
  -3,402
  -4,000
  -4,653
  -5,360
  -6,120
  -6,931
  -7,792
  -8,703
  -9,662
  -10,668
  -11,722
  -12,822
  -13,969
  -15,164
  -16,407
  -17,700
New CAPEX, $m
  -314
  -457
  -642
  -874
  -1,155
  -1,487
  -1,867
  -2,292
  -2,757
  -3,254
  -3,778
  -4,319
  -4,871
  -5,427
  -5,981
  -6,530
  -7,069
  -7,596
  -8,112
  -8,615
  -9,107
  -9,589
  -10,064
  -10,534
  -11,003
  -11,474
  -11,949
  -12,432
  -12,926
  -13,435
Cash from investing activities, $m
  -366
  -541
  -772
  -1,068
  -1,436
  -1,884
  -2,412
  -3,024
  -3,718
  -4,491
  -5,341
  -6,259
  -7,243
  -8,286
  -9,383
  -10,530
  -11,722
  -12,956
  -14,232
  -15,546
  -16,899
  -18,292
  -19,726
  -21,202
  -22,725
  -24,296
  -25,918
  -27,596
  -29,333
  -31,135
Free cash flow, $m
  -151
  -173
  -220
  -273
  -330
  -385
  -436
  -476
  -499
  -500
  -478
  -417
  -318
  -177
  9
  242
  522
  849
  1,224
  1,645
  2,110
  2,618
  3,168
  3,757
  4,385
  5,048
  5,747
  6,480
  7,246
  8,045
Issuance/(repayment) of debt, $m
  442
  819
  1,150
  1,565
  2,069
  2,663
  3,344
  4,105
  4,937
  5,829
  6,766
  7,735
  8,724
  9,720
  10,713
  11,695
  12,660
  13,605
  14,528
  15,429
  16,310
  17,174
  18,024
  18,867
  19,707
  20,549
  21,400
  22,265
  23,151
  24,062
Issuance/(repurchase) of shares, $m
  106
  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  
  548
  819
  1,150
  1,565
  2,069
  2,663
  3,344
  4,105
  4,937
  5,829
  6,766
  7,735
  8,724
  9,720
  10,713
  11,695
  12,660
  13,605
  14,528
  15,429
  16,310
  17,174
  18,024
  18,867
  19,707
  20,549
  21,400
  22,265
  23,151
  24,062
Total cash flow (excl. dividends), $m
  398
  646
  930
  1,292
  1,740
  2,278
  2,908
  3,629
  4,438
  5,328
  6,288
  7,318
  8,406
  9,543
  10,722
  11,936
  13,182
  14,454
  15,752
  17,073
  18,420
  19,792
  21,192
  22,624
  24,091
  25,597
  27,147
  28,745
  30,397
  32,107
Retained Cash Flow (-), $m
  -184
  -91
  -128
  -174
  -230
  -296
  -372
  -456
  -549
  -648
  -752
  -859
  -969
  -1,080
  -1,190
  -1,299
  -1,407
  -1,512
  -1,614
  -1,714
  -1,812
  -1,908
  -2,003
  -2,096
  -2,190
  -2,283
  -2,378
  -2,474
  -2,572
  -2,674
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
  11
  17
  27
  40
  58
  82
  112
  151
  198
  255
  322
  399
  488
  589
  700
  824
  958
  1,104
  1,260
  1,427
  1,604
  1,792
  1,989
  2,196
  2,413
  2,640
  2,876
  3,122
  3,378
  3,644
Cash available for distribution, $m
  214
  555
  802
  1,118
  1,510
  1,982
  2,536
  3,173
  3,889
  4,681
  5,536
  6,459
  7,437
  8,463
  9,532
  10,637
  11,775
  12,943
  14,137
  15,359
  16,607
  17,884
  19,190
  20,528
  21,902
  23,314
  24,769
  26,271
  27,825
  29,434
Discount rate, %
  6.40
  6.72
  7.06
  7.41
  7.78
  8.17
  8.58
  9.01
  9.46
  9.93
  10.42
  10.95
  11.49
  12.07
  12.67
  13.31
  13.97
  14.67
  15.40
  16.17
  16.98
  17.83
  18.72
  19.66
  20.64
  21.67
  22.76
  23.89
  25.09
  26.34
PV of cash for distribution, $m
  201
  487
  654
  840
  1,038
  1,237
  1,426
  1,592
  1,725
  1,816
  1,860
  1,857
  1,808
  1,717
  1,592
  1,442
  1,275
  1,102
  930
  766
  616
  484
  371
  277
  201
  142
  98
  65
  42
  26
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Keane Group, Inc. is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions. It provides hydraulic fracturing and wireline services pursuant to contractual arrangements, such as term contracts and pricing agreements, or on a spot market basis. It provides certain complementary services such as coiled tubing, cementing and drilling pursuant to contractual arrangements, such as term contracts on a spot basis. Its primary services include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions, as well as other value-added service offerings. As of July 3, 2017, the Company had approximately 1.2 million hydraulic horsepower spread across 23 hydraulic fracturing fleets and 31 wireline trucks.

FINANCIAL RATIOS  of  Keane Group (FRAC)

Valuation Ratios
P/E Ratio -7.3
Price to Sales 3.2
Price to Book 8.4
Price to Tangible Book
Price to Cash Flow -25.3
Price to Free Cash Flow -17.7
Growth Rates
Sales Growth Rate 15%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -11.5%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 10
Current Ratio 0
LT Debt to Equity 168.5%
Total Debt to Equity 171.6%
Interest Coverage 0
Management Effectiveness
Return On Assets -43.4%
Ret/ On Assets - 3 Yr. Avg. -27.6%
Return On Total Capital -50.9%
Ret/ On T. Cap. - 3 Yr. Avg. -31.9%
Return On Equity -154.5%
Return On Equity - 3 Yr. Avg. -91.5%
Asset Turnover 1
Profitability Ratios
Gross Margin 4.3%
Gross Margin - 3 Yr. Avg. 13.8%
EBITDA Margin -20.4%
EBITDA Margin - 3 Yr. Avg. -4.5%
Operating Margin -35.6%
Oper. Margin - 3 Yr. Avg. -18.6%
Pre-Tax Margin -44.4%
Pre-Tax Margin - 3 Yr. Avg. -24.6%
Net Profit Margin -44.4%
Net Profit Margin - 3 Yr. Avg. -24.6%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

FRAC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FRAC stock intrinsic value calculation we used $1542 million for the last fiscal year's total revenue generated by Keane Group. The default revenue input number comes from 2017 income statement of Keane Group. 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 FRAC 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 6.4%, whose default value for FRAC is calculated based on our internal credit rating of Keane Group, 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 Keane Group.
    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 FRAC stock the variable cost ratio is equal to 84.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $218 million in the base year in the intrinsic value calculation for FRAC 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 21.1% for Keane Group.

Corporate tax rate of 27% is the nominal tax rate for Keane Group. 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 FRAC stock is equal to 0.7%.

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 FRAC are equal to 34%.

Life of production assets of 10 years is the average useful life of capital assets used in Keane Group 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 FRAC is equal to -3.8%. 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 - $-17 million for Keane Group - 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 106 million for Keane Group 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 Keane Group at the current share price and the inputted number of shares is $1.4 billion.

RELATED COMPANIES Price Int.Val. Rating
FRAC Keane Group 13.23 130.77  str.buy
RES RPC 14.71 762.86  str.buy
HAL Halliburton 39.97 1.63  str.sell
SPN Superior Energ 9.09 0.26  str.sell
SLB Schlumberger 62.83 25.48  str.sell
CJ C&J Energy Ser 23.05 4.30  str.sell
TUSK Mammoth Energy 32.47 206.45  str.buy
PTEN Patterson-UTI 16.99 4.16  str.sell

COMPANY NEWS

▶ Keane Group, Inc. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ 6 Value Stocks For A Pricey Market: Leon Cooperman   [Jul-26-18 01:30PM  Investopedia]
▶ Keane Provides Update on Recent Incident   [Jul-03-18 08:00AM  Business Wire]
▶ Keane Announces New Credit Facility   [May-29-18 04:30PM  Business Wire]
▶ Certain of Keane's Executives Adopt 10b5-1 Trading Plan   [Mar-23-18 04:30PM  Business Wire]
▶ 5 Incredible Top-Ranked Stocks Under $20 On Sale   [Feb-20-18 12:30PM  InvestorPlace]
▶ Wall Streets Forecasts for NOV ahead of 4Q17 Earnings   [Jan-26-18 07:30AM  Market Realist]
▶ Stocks Showing Improved Relative Strength: Keane   [Jan-12-18 03:00AM  Investor's Business Daily]
▶ Short Interest in Schlumberger on January 2   [Jan-09-18 09:03AM  Market Realist]
▶ Oil Prices Rise Amid U.S. Storm and Protests in Iran   [Jan-04-18 11:34AM  TheStreet.com]
▶ Year in Review: Houston had most IPOs of any Texas city in 2017   [Dec-29-17 09:21AM  American City Business Journals]
▶ Keane to Present at Barclays CEO Energy-Power Conference   [Aug-29-17 04:15PM  Business Wire]
▶ ETFs with exposure to Keane Group, Inc. : June 15, 2017   [Jun-15-17 02:00PM  Capital Cube]
▶ These Stocks Are Changing Direction   [May-22-17 01:00PM  TheStreet.com]
▶ Houston-based energy services co. buys Colorado fracking co. after recent IPO   [May-19-17 01:55PM  American City Business Journals]
▶ Colorado fracking company to be sold to Texas firm for $285 million   [May-18-17 07:55PM  American City Business Journals]
▶ ETFs with exposure to Keane Group, Inc. : May 16, 2017   [May-16-17 12:52PM  Capital Cube]
▶ Former Halliburton executive joins board of recently public Houston co.   [09:20AM  American City Business Journals]
▶ Keane Announces New Board Appointments   [May-12-17 05:18PM  Business Wire]
▶ Is The Permian Starting To Get Crowded?   [Apr-30-17 01:00PM  Oilprice.com]
▶ ETFs with exposure to Keane Group, Inc. : April 19, 2017   [Apr-19-17 02:20PM  Capital Cube]
▶ Will 2017 Be the Year of Energy IPO Revival?   [Apr-12-17 06:35PM  Zacks]
▶ ETFs with exposure to Keane Group, Inc. : April 5, 2017   [Apr-05-17 04:46PM  Capital Cube]
▶ Energy Is the Only IPO Loser   [12:21PM  The Wall Street Journal]
▶ Oil And Gas IPOs Return Amid Oil Price Recovery   [Mar-06-17 07:00PM  Oilprice.com]
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