Intrinsic value of GTT Communications - GTT

Previous Close

$38.95

  Intrinsic Value

$205.54

stock screener

  Rating & Target

str. buy

+428%

Previous close

$38.95

 
Intrinsic value

$205.54

 
Up/down potential

+428%

 
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 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 1.6

 

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, %
  57.00
  51.80
  47.12
  42.91
  39.12
  35.71
  32.63
  29.87
  27.38
  25.15
  23.13
  21.32
  19.69
  18.22
  16.90
  15.71
  14.64
  13.67
  12.80
  12.02
  11.32
  10.69
  10.12
  9.61
  9.15
  8.73
  8.36
  8.02
  7.72
  7.45
Revenue, $m
  1,300
  1,973
  2,903
  4,149
  5,772
  7,833
  10,389
  13,492
  17,187
  21,509
  26,484
  32,130
  38,455
  45,460
  53,141
  61,488
  70,487
  80,124
  90,384
  101,252
  112,716
  124,765
  137,392
  150,594
  164,370
  178,725
  193,666
  209,205
  225,359
  242,146
Variable operating expenses, $m
  1,139
  1,674
  2,413
  3,403
  4,693
  6,331
  8,363
  10,829
  13,765
  17,200
  21,048
  25,535
  30,562
  36,129
  42,234
  48,867
  56,019
  63,678
  71,832
  80,469
  89,580
  99,156
  109,191
  119,683
  130,631
  142,040
  153,914
  166,263
  179,101
  192,443
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
  1,138
  1,673
  2,412
  3,402
  4,692
  6,330
  8,362
  10,828
  13,764
  17,199
  21,047
  25,534
  30,561
  36,128
  42,233
  48,866
  56,018
  63,677
  71,830
  80,467
  89,578
  99,154
  109,189
  119,681
  130,629
  142,038
  153,912
  166,261
  179,099
  192,441
Operating income, $m
  162
  300
  491
  746
  1,080
  1,503
  2,027
  2,664
  3,423
  4,310
  5,437
  6,596
  7,895
  9,333
  10,909
  12,622
  14,470
  16,448
  18,554
  20,785
  23,138
  25,611
  28,203
  30,913
  33,740
  36,687
  39,754
  42,943
  46,259
  49,705
EBITDA, $m
  431
  654
  961
  1,373
  1,910
  2,592
  3,437
  4,464
  5,686
  7,115
  8,761
  10,629
  12,721
  15,038
  17,578
  20,339
  23,316
  26,503
  29,897
  33,492
  37,284
  41,269
  45,446
  49,812
  54,369
  59,117
  64,059
  69,199
  74,542
  80,094
Interest expense (income), $m
  26
  90
  154
  246
  373
  542
  764
  1,045
  1,393
  1,816
  2,320
  2,909
  3,587
  4,357
  5,219
  6,174
  7,222
  8,360
  9,586
  10,900
  12,299
  13,781
  15,343
  16,986
  18,708
  20,507
  22,385
  24,342
  26,379
  28,498
  30,700
Earnings before tax, $m
  72
  146
  245
  374
  537
  739
  983
  1,271
  1,607
  1,990
  2,528
  3,009
  3,538
  4,113
  4,735
  5,401
  6,110
  6,861
  7,654
  8,486
  9,357
  10,268
  11,217
  12,205
  13,233
  14,301
  15,411
  16,564
  17,761
  19,005
Tax expense, $m
  19
  39
  66
  101
  145
  200
  265
  343
  434
  537
  683
  812
  955
  1,111
  1,278
  1,458
  1,650
  1,853
  2,066
  2,291
  2,526
  2,772
  3,029
  3,295
  3,573
  3,861
  4,161
  4,472
  4,796
  5,131
Net income, $m
  53
  106
  179
  273
  392
  539
  717
  928
  1,173
  1,453
  1,846
  2,196
  2,582
  3,003
  3,456
  3,943
  4,460
  5,009
  5,587
  6,195
  6,831
  7,495
  8,188
  8,910
  9,660
  10,440
  11,250
  12,092
  12,966
  13,874

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
  2,826
  4,290
  6,311
  9,019
  12,547
  17,027
  22,584
  29,331
  37,363
  46,758
  57,574
  69,847
  83,597
  98,827
  115,525
  133,669
  153,233
  174,183
  196,487
  220,114
  245,035
  271,229
  298,679
  327,378
  357,326
  388,532
  421,012
  454,793
  489,910
  526,405
Adjusted assets (=assets-cash), $m
  2,826
  4,290
  6,311
  9,019
  12,547
  17,027
  22,584
  29,331
  37,363
  46,758
  57,574
  69,847
  83,597
  98,827
  115,525
  133,669
  153,233
  174,183
  196,487
  220,114
  245,035
  271,229
  298,679
  327,378
  357,326
  388,532
  421,012
  454,793
  489,910
  526,405
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
  1,631
  2,477
  3,643
  5,207
  7,244
  9,830
  13,038
  16,933
  21,569
  26,993
  33,237
  40,323
  48,261
  57,053
  66,692
  77,167
  88,461
  100,556
  113,432
  127,072
  141,459
  156,580
  172,427
  188,996
  206,285
  224,300
  243,050
  262,552
  282,825
  303,893
Working capital, $m
  -35
  -53
  -78
  -112
  -156
  -211
  -280
  -364
  -464
  -581
  -715
  -868
  -1,038
  -1,227
  -1,435
  -1,660
  -1,903
  -2,163
  -2,440
  -2,734
  -3,043
  -3,369
  -3,710
  -4,066
  -4,438
  -4,826
  -5,229
  -5,649
  -6,085
  -6,538
Total debt, $m
  2,140
  3,415
  5,175
  7,534
  10,607
  14,509
  19,349
  25,225
  32,221
  40,404
  49,825
  60,515
  72,491
  85,756
  100,300
  116,104
  133,144
  151,392
  170,818
  191,397
  213,103
  235,918
  259,828
  284,825
  310,909
  338,089
  366,380
  395,803
  426,390
  458,177
Total liabilities, $m
  2,461
  3,736
  5,497
  7,856
  10,929
  14,831
  19,671
  25,547
  32,543
  40,726
  50,147
  60,837
  72,813
  86,078
  100,622
  116,426
  133,466
  151,714
  171,140
  191,719
  213,425
  236,240
  260,149
  285,147
  311,231
  338,411
  366,702
  396,125
  426,712
  458,498
Total equity, $m
  365
  553
  814
  1,163
  1,619
  2,197
  2,913
  3,784
  4,820
  6,032
  7,427
  9,010
  10,784
  12,749
  14,903
  17,243
  19,767
  22,470
  25,347
  28,395
  31,609
  34,988
  38,530
  42,232
  46,095
  50,121
  54,311
  58,668
  63,198
  67,906
Total liabilities and equity, $m
  2,826
  4,289
  6,311
  9,019
  12,548
  17,028
  22,584
  29,331
  37,363
  46,758
  57,574
  69,847
  83,597
  98,827
  115,525
  133,669
  153,233
  174,184
  196,487
  220,114
  245,034
  271,228
  298,679
  327,379
  357,326
  388,532
  421,013
  454,793
  489,910
  526,404
Debt-to-equity ratio
  5.870
  6.170
  6.360
  6.480
  6.550
  6.610
  6.640
  6.670
  6.690
  6.700
  6.710
  6.720
  6.720
  6.730
  6.730
  6.730
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  6.740
  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
  53
  106
  179
  273
  392
  539
  717
  928
  1,173
  1,453
  1,846
  2,196
  2,582
  3,003
  3,456
  3,943
  4,460
  5,009
  5,587
  6,195
  6,831
  7,495
  8,188
  8,910
  9,660
  10,440
  11,250
  12,092
  12,966
  13,874
Depreciation, amort., depletion, $m
  269
  354
  471
  627
  831
  1,089
  1,410
  1,799
  2,263
  2,806
  3,324
  4,032
  4,826
  5,705
  6,669
  7,717
  8,846
  10,056
  11,343
  12,707
  14,146
  15,658
  17,243
  18,900
  20,628
  22,430
  24,305
  26,255
  28,282
  30,389
Funds from operations, $m
  322
  460
  649
  900
  1,223
  1,629
  2,127
  2,727
  3,436
  4,258
  5,169
  6,229
  7,408
  8,708
  10,126
  11,659
  13,307
  15,064
  16,930
  18,902
  20,977
  23,153
  25,431
  27,809
  30,289
  32,870
  35,555
  38,347
  41,248
  44,263
Change in working capital, $m
  -13
  -18
  -25
  -34
  -44
  -56
  -69
  -84
  -100
  -117
  -134
  -152
  -171
  -189
  -207
  -225
  -243
  -260
  -277
  -293
  -310
  -325
  -341
  -356
  -372
  -388
  -403
  -420
  -436
  -453
Cash from operations, $m
  335
  479
  674
  933
  1,267
  1,684
  2,196
  2,811
  3,536
  4,375
  5,304
  6,381
  7,579
  8,897
  10,333
  11,885
  13,550
  15,325
  17,207
  19,195
  21,286
  23,479
  25,772
  28,166
  30,661
  33,258
  35,959
  38,767
  41,684
  44,716
Maintenance CAPEX, $m
  -104
  -163
  -248
  -364
  -521
  -724
  -983
  -1,304
  -1,693
  -2,157
  -2,699
  -3,324
  -4,032
  -4,826
  -5,705
  -6,669
  -7,717
  -8,846
  -10,056
  -11,343
  -12,707
  -14,146
  -15,658
  -17,243
  -18,900
  -20,628
  -22,430
  -24,305
  -26,255
  -28,282
New CAPEX, $m
  -592
  -845
  -1,167
  -1,563
  -2,037
  -2,586
  -3,208
  -3,895
  -4,637
  -5,424
  -6,244
  -7,086
  -7,938
  -8,792
  -9,640
  -10,475
  -11,294
  -12,095
  -12,876
  -13,640
  -14,387
  -15,122
  -15,847
  -16,568
  -17,289
  -18,015
  -18,751
  -19,502
  -20,273
  -21,068
Cash from investing activities, $m
  -696
  -1,008
  -1,415
  -1,927
  -2,558
  -3,310
  -4,191
  -5,199
  -6,330
  -7,581
  -8,943
  -10,410
  -11,970
  -13,618
  -15,345
  -17,144
  -19,011
  -20,941
  -22,932
  -24,983
  -27,094
  -29,268
  -31,505
  -33,811
  -36,189
  -38,643
  -41,181
  -43,807
  -46,528
  -49,350
Free cash flow, $m
  -361
  -530
  -740
  -994
  -1,291
  -1,626
  -1,995
  -2,387
  -2,794
  -3,206
  -3,640
  -4,028
  -4,391
  -4,721
  -5,012
  -5,259
  -5,461
  -5,616
  -5,724
  -5,788
  -5,808
  -5,789
  -5,733
  -5,645
  -5,528
  -5,386
  -5,222
  -5,040
  -4,844
  -4,635
Issuance/(repayment) of debt, $m
  894
  1,275
  1,761
  2,359
  3,073
  3,902
  4,840
  5,876
  6,996
  8,183
  9,420
  10,690
  11,977
  13,265
  14,544
  15,804
  17,040
  18,248
  19,427
  20,579
  21,706
  22,815
  23,909
  24,997
  26,085
  27,180
  28,290
  29,423
  30,586
  31,787
Issuance/(repurchase) of shares, $m
  81
  82
  82
  76
  63
  38
  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  
  975
  1,357
  1,843
  2,435
  3,136
  3,940
  4,840
  5,876
  6,996
  8,183
  9,420
  10,690
  11,977
  13,265
  14,544
  15,804
  17,040
  18,248
  19,427
  20,579
  21,706
  22,815
  23,909
  24,997
  26,085
  27,180
  28,290
  29,423
  30,586
  31,787
Total cash flow (excl. dividends), $m
  614
  828
  1,102
  1,441
  1,845
  2,314
  2,845
  3,489
  4,201
  4,977
  5,781
  6,662
  7,585
  8,544
  9,532
  10,545
  11,579
  12,632
  13,702
  14,791
  15,898
  17,026
  18,176
  19,352
  20,557
  21,794
  23,068
  24,383
  25,743
  27,152
Retained Cash Flow (-), $m
  -134
  -189
  -261
  -349
  -455
  -578
  -717
  -870
  -1,036
  -1,212
  -1,395
  -1,583
  -1,774
  -1,965
  -2,154
  -2,341
  -2,524
  -2,703
  -2,877
  -3,048
  -3,215
  -3,379
  -3,541
  -3,702
  -3,863
  -4,026
  -4,190
  -4,358
  -4,530
  -4,708
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
  16
  25
  37
  55
  79
  110
  149
  197
  256
  327
  409
  503
  610
  731
  864
  1,010
  1,168
  1,339
  1,522
  1,717
  1,924
  2,142
  2,371
  2,610
  2,861
  3,123
  3,396
  3,680
  3,975
  4,282
Cash available for distribution, $m
  480
  639
  842
  1,092
  1,390
  1,736
  2,129
  2,619
  3,165
  3,765
  4,386
  5,079
  5,812
  6,579
  7,378
  8,204
  9,055
  9,929
  10,825
  11,743
  12,683
  13,647
  14,635
  15,650
  16,693
  17,769
  18,878
  20,025
  21,213
  22,444
Discount rate, %
  11.90
  12.50
  13.12
  13.78
  14.46
  15.19
  15.95
  16.74
  17.58
  18.46
  19.38
  20.35
  21.37
  22.44
  23.56
  24.74
  25.98
  27.28
  28.64
  30.07
  31.57
  33.15
  34.81
  36.55
  38.38
  40.30
  42.31
  44.43
  46.65
  48.98
PV of cash for distribution, $m
  429
  505
  581
  651
  707
  743
  756
  759
  737
  692
  625
  550
  469
  387
  309
  239
  179
  129
  90
  61
  40
  25
  15
  9
  5
  3
  1
  1
  0
  0
Current shareholders' claim on cash, %
  95.3
  92.3
  90.4
  89.3
  88.6
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3
  88.3

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 290
Price to Sales 2.8
Price to Book 11.3
Price to Tangible Book
Price to Cash Flow 23.8
Price to Free Cash Flow 85.3
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 $828 million for the last fiscal year's total revenue generated by GTT Communications. The default revenue input number comes from 2017 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 57% 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 11.9%, 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 1.9%.

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 125.5%.

Life of production assets of 10 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 -2.7%. 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 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 42 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 $1.6 billion.

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COMPANY NEWS

▶ 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]
▶ GTT to Present at Wells Fargo Media & Telecom Conference   [Nov-06-17 08:00AM  Business Wire]
▶ GTT Communications reports 3Q loss   [Nov-02-17 08:17AM  Associated Press]
▶ GTT Named a Fortune Future 50 Company   [Oct-31-17 08:00AM  Business Wire]
▶ GTT Announces Earnings Call for Third Quarter 2017   [Oct-25-17 08:00AM  Business Wire]
▶ Funding roundup: Mapping the Wi-Fi world, roadside assistance and more   [Oct-05-17 03:05PM  American City Business Journals]
▶ GTT Acquires Transbeam   [08:00AM  Business Wire]
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