Intrinsic value of GTT Communications - GTT

Previous Close

$33.60

  Intrinsic Value

$277.46

stock screener

  Rating & Target

str. buy

+726%

Previous close

$33.60

 
Intrinsic value

$277.46

 
Up/down potential

+726%

 
Rating

str. buy

We calculate the intrinsic value of GTT 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 1.8

 

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, %
  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
  1,325
  2,047
  3,061
  4,441
  6,265
  8,613
  11,562
  15,181
  19,535
  24,674
  30,639
  37,460
  45,151
  53,721
  63,167
  73,478
  84,641
  96,636
  109,445
  123,049
  137,430
  152,572
  168,464
  185,099
  202,475
  220,593
  239,462
  259,093
  279,506
  300,722
Variable operating expenses, $m
  1,159
  1,733
  2,539
  3,636
  5,086
  6,952
  9,295
  12,172
  15,632
  19,716
  24,351
  29,772
  35,885
  42,696
  50,203
  58,398
  67,270
  76,804
  86,984
  97,796
  109,225
  121,260
  133,890
  147,112
  160,921
  175,321
  190,317
  205,920
  222,143
  239,005
Fixed operating expenses, $m
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
Total operating expenses, $m
  1,158
  1,732
  2,538
  3,635
  5,085
  6,951
  9,294
  12,171
  15,631
  19,715
  24,350
  29,771
  35,884
  42,695
  50,202
  58,397
  67,269
  76,803
  86,982
  97,794
  109,223
  121,258
  133,888
  147,110
  160,919
  175,319
  190,315
  205,918
  222,141
  239,003
Operating income, $m
  167
  315
  523
  806
  1,181
  1,663
  2,268
  3,011
  3,904
  4,959
  6,289
  7,689
  9,268
  11,026
  12,965
  15,081
  17,372
  19,834
  22,463
  25,255
  28,206
  31,314
  34,575
  37,989
  41,555
  45,274
  49,146
  53,175
  57,364
  61,718
EBITDA, $m
  407
  629
  940
  1,363
  1,923
  2,643
  3,548
  4,658
  5,994
  7,570
  9,400
  11,493
  13,852
  16,481
  19,379
  22,542
  25,966
  29,646
  33,576
  37,749
  42,160
  46,806
  51,681
  56,784
  62,114
  67,672
  73,461
  79,483
  85,745
  92,253
Interest expense (income), $m
  26
  90
  157
  256
  394
  582
  831
  1,151
  1,553
  2,047
  2,640
  3,341
  4,154
  5,084
  6,132
  7,301
  8,588
  9,994
  11,516
  13,151
  14,898
  16,752
  18,713
  20,777
  22,944
  25,211
  27,580
  30,050
  32,623
  35,299
  38,082
Earnings before tax, $m
  77
  157
  267
  412
  599
  832
  1,117
  1,458
  1,858
  2,319
  2,949
  3,535
  4,184
  4,894
  5,664
  6,493
  7,378
  8,318
  9,311
  10,357
  11,454
  12,601
  13,798
  15,046
  16,344
  17,693
  19,096
  20,552
  22,065
  23,636
Tax expense, $m
  21
  43
  72
  111
  162
  225
  302
  394
  502
  626
  796
  954
  1,130
  1,321
  1,529
  1,753
  1,992
  2,246
  2,514
  2,796
  3,093
  3,402
  3,726
  4,062
  4,413
  4,777
  5,156
  5,549
  5,958
  6,382
Net income, $m
  56
  115
  195
  301
  437
  607
  815
  1,064
  1,356
  1,693
  2,153
  2,581
  3,054
  3,573
  4,135
  4,740
  5,386
  6,072
  6,797
  7,561
  8,361
  9,199
  10,073
  10,983
  11,931
  12,916
  13,940
  15,003
  16,108
  17,255

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,880
  4,449
  6,654
  9,654
  13,620
  18,725
  25,134
  33,003
  42,467
  53,639
  66,607
  81,434
  98,155
  116,785
  137,319
  159,735
  184,001
  210,079
  237,925
  267,498
  298,760
  331,678
  366,226
  402,389
  440,162
  479,550
  520,569
  563,246
  607,621
  653,743
Adjusted assets (=assets-cash), $m
  2,880
  4,449
  6,654
  9,654
  13,620
  18,725
  25,134
  33,003
  42,467
  53,639
  66,607
  81,434
  98,155
  116,785
  137,319
  159,735
  184,001
  210,079
  237,925
  267,498
  298,760
  331,678
  366,226
  402,389
  440,162
  479,550
  520,569
  563,246
  607,621
  653,743
Revenue / Adjusted assets
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
Average production assets, $m
  1,049
  1,621
  2,424
  3,517
  4,962
  6,822
  9,157
  12,024
  15,471
  19,542
  24,266
  29,668
  35,760
  42,547
  50,028
  58,195
  67,035
  76,536
  86,681
  97,455
  108,844
  120,837
  133,423
  146,598
  160,360
  174,710
  189,654
  205,202
  221,368
  238,172
Working capital, $m
  -83
  -129
  -193
  -280
  -395
  -543
  -728
  -956
  -1,231
  -1,554
  -1,930
  -2,360
  -2,845
  -3,384
  -3,980
  -4,629
  -5,332
  -6,088
  -6,895
  -7,752
  -8,658
  -9,612
  -10,613
  -11,661
  -12,756
  -13,897
  -15,086
  -16,323
  -17,609
  -18,945
Total debt, $m
  2,187
  3,554
  5,474
  8,087
  11,542
  15,988
  21,570
  28,424
  36,667
  46,398
  57,694
  70,607
  85,172
  101,399
  119,283
  138,808
  159,944
  182,657
  206,911
  232,670
  259,899
  288,570
  318,661
  350,160
  383,060
  417,366
  453,094
  490,266
  528,916
  569,089
Total liabilities, $m
  2,508
  3,875
  5,795
  8,409
  11,863
  16,309
  21,892
  28,746
  36,989
  46,720
  58,015
  70,929
  85,493
  101,720
  119,605
  139,129
  160,265
  182,978
  207,233
  232,991
  260,220
  288,891
  318,983
  350,481
  383,381
  417,688
  453,415
  490,587
  529,238
  569,410
Total equity, $m
  371
  574
  858
  1,245
  1,757
  2,416
  3,242
  4,257
  5,478
  6,919
  8,592
  10,505
  12,662
  15,065
  17,714
  20,606
  23,736
  27,100
  30,692
  34,507
  38,540
  42,786
  47,243
  51,908
  56,781
  61,862
  67,153
  72,659
  78,383
  84,333
Total liabilities and equity, $m
  2,879
  4,449
  6,653
  9,654
  13,620
  18,725
  25,134
  33,003
  42,467
  53,639
  66,607
  81,434
  98,155
  116,785
  137,319
  159,735
  184,001
  210,078
  237,925
  267,498
  298,760
  331,677
  366,226
  402,389
  440,162
  479,550
  520,568
  563,246
  607,621
  653,743
Debt-to-equity ratio
  5.890
  6.190
  6.380
  6.490
  6.570
  6.620
  6.650
  6.680
  6.690
  6.710
  6.710
  6.720
  6.730
  6.730
  6.730
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  6.750
  6.750
  6.750
  6.750
  6.750
  6.750
  6.750
  6.750
Adjusted equity ratio
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129
  0.129

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  56
  115
  195
  301
  437
  607
  815
  1,064
  1,356
  1,693
  2,153
  2,581
  3,054
  3,573
  4,135
  4,740
  5,386
  6,072
  6,797
  7,561
  8,361
  9,199
  10,073
  10,983
  11,931
  12,916
  13,940
  15,003
  16,108
  17,255
Depreciation, amort., depletion, $m
  241
  314
  417
  557
  742
  981
  1,280
  1,648
  2,090
  2,612
  3,111
  3,804
  4,585
  5,455
  6,414
  7,461
  8,594
  9,812
  11,113
  12,494
  13,954
  15,492
  17,106
  18,795
  20,559
  22,399
  24,315
  26,308
  28,381
  30,535
Funds from operations, $m
  297
  429
  612
  858
  1,179
  1,588
  2,095
  2,712
  3,446
  4,304
  5,264
  6,384
  7,639
  9,027
  10,549
  12,201
  13,980
  15,884
  17,910
  20,055
  22,316
  24,691
  27,178
  29,778
  32,490
  35,315
  38,254
  41,311
  44,488
  47,789
Change in working capital, $m
  -31
  -45
  -64
  -87
  -115
  -148
  -186
  -228
  -274
  -324
  -376
  -430
  -485
  -540
  -595
  -650
  -703
  -756
  -807
  -857
  -906
  -954
  -1,001
  -1,048
  -1,095
  -1,141
  -1,189
  -1,237
  -1,286
  -1,337
Cash from operations, $m
  328
  474
  676
  945
  1,294
  1,736
  2,281
  2,940
  3,720
  4,628
  5,639
  6,814
  8,123
  9,567
  11,144
  12,850
  14,683
  16,640
  18,717
  20,912
  23,222
  25,645
  28,179
  30,826
  33,585
  36,456
  39,443
  42,548
  45,774
  49,126
Maintenance CAPEX, $m
  -84
  -135
  -208
  -311
  -451
  -636
  -875
  -1,174
  -1,541
  -1,984
  -2,505
  -3,111
  -3,804
  -4,585
  -5,455
  -6,414
  -7,461
  -8,594
  -9,812
  -11,113
  -12,494
  -13,954
  -15,492
  -17,106
  -18,795
  -20,559
  -22,399
  -24,315
  -26,308
  -28,381
New CAPEX, $m
  -394
  -572
  -803
  -1,093
  -1,445
  -1,860
  -2,335
  -2,867
  -3,448
  -4,070
  -4,725
  -5,402
  -6,092
  -6,787
  -7,481
  -8,167
  -8,841
  -9,501
  -10,145
  -10,774
  -11,389
  -11,993
  -12,587
  -13,175
  -13,761
  -14,350
  -14,944
  -15,548
  -16,167
  -16,803
Cash from investing activities, $m
  -478
  -707
  -1,011
  -1,404
  -1,896
  -2,496
  -3,210
  -4,041
  -4,989
  -6,054
  -7,230
  -8,513
  -9,896
  -11,372
  -12,936
  -14,581
  -16,302
  -18,095
  -19,957
  -21,887
  -23,883
  -25,947
  -28,079
  -30,281
  -32,556
  -34,909
  -37,343
  -39,863
  -42,475
  -45,184
Free cash flow, $m
  -150
  -232
  -335
  -459
  -602
  -760
  -929
  -1,101
  -1,269
  -1,426
  -1,591
  -1,699
  -1,772
  -1,805
  -1,792
  -1,730
  -1,618
  -1,455
  -1,240
  -975
  -662
  -302
  101
  545
  1,028
  1,548
  2,100
  2,685
  3,300
  3,942
Issuance/(repayment) of debt, $m
  941
  1,367
  1,920
  2,613
  3,455
  4,446
  5,583
  6,854
  8,243
  9,731
  11,296
  12,914
  14,564
  16,227
  17,885
  19,524
  21,136
  22,713
  24,254
  25,758
  27,229
  28,671
  30,092
  31,498
  32,900
  34,307
  35,727
  37,172
  38,650
  40,172
Issuance/(repurchase) of shares, $m
  84
  88
  89
  86
  75
  51
  12
  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  
  1,025
  1,455
  2,009
  2,699
  3,530
  4,497
  5,595
  6,854
  8,243
  9,731
  11,296
  12,914
  14,564
  16,227
  17,885
  19,524
  21,136
  22,713
  24,254
  25,758
  27,229
  28,671
  30,092
  31,498
  32,900
  34,307
  35,727
  37,172
  38,650
  40,172
Total cash flow (excl. dividends), $m
  876
  1,223
  1,674
  2,241
  2,928
  3,737
  4,666
  5,753
  6,974
  8,305
  9,705
  11,215
  12,792
  14,422
  16,093
  17,794
  19,518
  21,259
  23,014
  24,783
  26,567
  28,369
  30,192
  32,044
  33,929
  35,854
  37,828
  39,857
  41,950
  44,115
Retained Cash Flow (-), $m
  -140
  -202
  -284
  -387
  -512
  -658
  -827
  -1,015
  -1,221
  -1,441
  -1,673
  -1,913
  -2,157
  -2,403
  -2,649
  -2,892
  -3,130
  -3,364
  -3,592
  -3,815
  -4,033
  -4,246
  -4,457
  -4,665
  -4,873
  -5,081
  -5,291
  -5,505
  -5,724
  -5,950
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
  736
  1,020
  1,390
  1,854
  2,416
  3,079
  3,839
  4,738
  5,753
  6,864
  8,032
  9,303
  10,635
  12,019
  13,444
  14,902
  16,387
  17,895
  19,422
  20,968
  22,534
  24,122
  25,736
  27,379
  29,056
  30,773
  32,536
  34,352
  36,226
  38,165
Discount rate, %
  12.00
  12.60
  13.23
  13.89
  14.59
  15.32
  16.08
  16.89
  17.73
  18.62
  19.55
  20.52
  21.55
  22.63
  23.76
  24.95
  26.19
  27.50
  28.88
  30.32
  31.84
  33.43
  35.10
  36.86
  38.70
  40.64
  42.67
  44.80
  47.04
  49.39
PV of cash for distribution, $m
  657
  805
  957
  1,102
  1,223
  1,309
  1,352
  1,360
  1,324
  1,245
  1,127
  990
  841
  691
  549
  422
  314
  226
  157
  105
  68
  42
  25
  15
  8
  4
  2
  1
  1
  0
Current shareholders' claim on cash, %
  95.6
  92.9
  91.1
  89.9
  89.3
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9
  88.9

GTT Communications, Inc. provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients. It offers customers with high-bandwidth global Internet connectivity and Internet protocol (IP) transit with availability and packet delivery. The Company offers managed network services, including managed equipment, managed security services and managed remote access. Its Session Initiation Protocol (SIP) Trunking service is an enterprise-built unified communications offering that integrates voice, video and chat onto a single IP connection. As of December 31, 2016, it had provided services to multinational enterprises, carriers and government customers in over 100 countries.

FINANCIAL RATIOS  of  GTT Communications (GTT)

Valuation Ratios
P/E Ratio 250.2
Price to Sales 2.4
Price to Book 9.8
Price to Tangible Book
Price to Cash Flow 20.5
Price to Free Cash Flow 73.6
Growth Rates
Sales Growth Rate 41.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 214.3%
Cap. Spend. - 3 Yr. Gr. Rate 40.6%
Financial Strength
Quick Ratio 6
Current Ratio 0.1
LT Debt to Equity 567.2%
Total Debt to Equity 571.1%
Interest Coverage 1
Management Effectiveness
Return On Assets 2.5%
Ret/ On Assets - 3 Yr. Avg. -1.1%
Return On Total Capital 0.7%
Ret/ On T. Cap. - 3 Yr. Avg. -3%
Return On Equity 4.2%
Return On Equity - 3 Yr. Avg. -9.3%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 47.5%
Gross Margin - 3 Yr. Avg. 43.5%
EBITDA Margin 18.8%
EBITDA Margin - 3 Yr. Avg. 12.3%
Operating Margin 7.5%
Oper. Margin - 3 Yr. Avg. 1.8%
Pre-Tax Margin 1.7%
Pre-Tax Margin - 3 Yr. Avg. -4.2%
Net Profit Margin 1%
Net Profit Margin - 3 Yr. Avg. -1.7%
Effective Tax Rate 44.4%
Eff/ Tax Rate - 3 Yr. Avg. 87.2%
Payout Ratio 0%

GTT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GTT stock intrinsic value calculation we used $827.9 million for the last fiscal year's total revenue generated by GTT Communications. The default revenue input number comes from 0001 income statement of GTT Communications. 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 GTT 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 12%, whose default value for GTT is calculated based on our internal credit rating of GTT Communications, 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 GTT Communications.
    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 GTT stock the variable cost ratio is equal to 92.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $-1 million in the base year in the intrinsic value calculation for GTT 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 7.2% for GTT Communications.

Corporate tax rate of 27% is the nominal tax rate for GTT Communications. 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 GTT 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 GTT are equal to 79.2%.

Life of production assets of 7.8 years is the average useful life of capital assets used in GTT Communications 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 GTT is equal to -6.3%. 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 - $231.4 million for GTT Communications - 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 54.628 million for GTT Communications 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 GTT Communications at the current share price and the inputted number of shares is $1.8 billion.

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COMPANY NEWS

▶ GTT Communications: 3Q Earnings Snapshot   [08:32AM  Associated Press]
▶ GTT Announces Earnings Call for Third Quarter 2018   [Oct-16-18 08:00AM  Business Wire]
▶ Insider Buys Of The Week: Appian, GCP, GTT   [Oct-08-18 07:40AM  Benzinga]
▶ GTT Delivers Internet Services to Members of The Quilt   [Oct-05-18 08:00AM  Business Wire]
▶ A publicly-traded competitor of AT&T and Verizon just bought a Cary firm for $40M   [Oct-02-18 03:07PM  American City Business Journals]
▶ GTT Acquires Access Point   [Oct-01-18 05:01PM  Business Wire]
▶ Largest Insider Trades of the Week   [Sep-14-18 05:54PM  GuruFocus.com]
▶ GTT Upgrades Network in Central and Eastern Europe   [Sep-11-18 08:00AM  Business Wire]
▶ Europac Enhances Network Performance with GTT SD-WAN   [Sep-04-18 08:00AM  Business Wire]
▶ GTT Communications Looks Headed Even Lower   [Aug-08-18 03:57PM  TheStreet.com]
▶ GTT Announces New UK and Europe Divisions   [Aug-06-18 08:00AM  Business Wire]
▶ GTT Communications: 2Q Earnings Snapshot   [07:23AM  Associated Press]
▶ Earnings Outlook For GTT Communications   [Aug-02-18 02:54PM  Benzinga]
▶ GTT to Present at August 2018 Investor Conferences   [Aug-01-18 08:00AM  Business Wire]
▶ GTT Announces Earnings Call for Second Quarter 2018   [Jul-27-18 08:00AM  Business Wire]
▶ DITCO Awards Contract to GTT   [Jul-18-18 08:00AM  Business Wire]
▶ Nilfisk Selects GTT for Global Managed SD-WAN   [Jul-09-18 08:00AM  Business Wire]
▶ Estimating The Fair Value Of GTT Communications Inc (NYSE:GTT)   [Jun-25-18 09:34AM  Simply Wall St.]
▶ GTT closes its $2.3B acquisition of European fiber network provider   [Jun-01-18 07:24AM  American City Business Journals]
▶ GTT Completes Acquisition of Interoute   [May-31-18 09:35AM  Business Wire]
▶ GTT to Present at Spring 2018 Investor Conferences   [May-21-18 08:00AM  Business Wire]
▶ GTT Wins 2018 Leading Lights Award for Best Deal Maker   [May-16-18 08:00AM  Business Wire]
▶ GTT Communications takes over Google's old space near The Domain   [May-08-18 08:50AM  American City Business Journals]
▶ GTT Communications: 1Q Earnings Snapshot   [May-03-18 09:06AM  Associated Press]
▶ GTT, Up 150-Fold, Sees More Growth Ahead   [Mar-20-18 11:55AM  Barrons.com]
▶ GTT Acquires Accelerated Connections   [Mar-12-18 09:15AM  Business Wire]
▶ GTT Communications reports 4Q loss   [Mar-01-18 08:35AM  Associated Press]
▶ Tysons-based GTT to buy European data firm for $2.3B in cash   [10:49AM  American City Business Journals]
▶ GTT to Acquire Interoute   [08:00AM  Business Wire]
▶ GTT Announces Earnings Call for Fourth Quarter 2017   [Feb-14-18 08:00AM  Business Wire]
▶ Julius Erving Joins GTTs Board of Directors   [Jan-17-18 08:00AM  Business Wire]
▶ GTT Acquires Custom Connect   [Jan-08-18 08:00AM  Business Wire]
▶ GTT Expands Channel Partner Program   [Dec-20-17 08:00AM  Business Wire]
▶ GTT to Present at Upcoming Investor Conferences   [Dec-04-17 08:00AM  Business Wire]
▶ GTT Wins CEO of the Year at the World Communication Awards   [Nov-29-17 08:00AM  Business Wire]

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