Intrinsic value of Huntsman - HUN

Previous Close

$18.18

  Intrinsic Value

$111.34

stock screener

  Rating & Target

str. buy

+512%

Previous close

$18.18

 
Intrinsic value

$111.34

 
Up/down potential

+512%

 
Rating

str. buy

We calculate the intrinsic value of HUN 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 4.3

 

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, %
  17.00
  15.80
  14.72
  13.75
  12.87
  12.09
  11.38
  10.74
  10.17
  9.65
  9.18
  8.77
  8.39
  8.05
  7.75
  7.47
  7.22
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
Revenue, $m
  9,779
  11,324
  12,991
  14,777
  16,679
  18,695
  20,822
  23,058
  25,402
  27,853
  30,411
  33,077
  35,852
  38,738
  41,738
  44,856
  48,097
  51,464
  54,964
  58,603
  62,388
  66,327
  70,427
  74,697
  79,147
  83,786
  88,625
  93,675
  98,947
  104,454
Variable operating expenses, $m
  7,732
  8,950
  10,265
  11,673
  13,174
  14,763
  16,441
  18,204
  20,053
  21,986
  23,984
  26,086
  28,275
  30,551
  32,917
  35,376
  37,932
  40,587
  43,348
  46,218
  49,203
  52,309
  55,543
  58,910
  62,420
  66,079
  69,895
  73,877
  78,035
  82,378
Fixed operating expenses, $m
  940
  961
  982
  1,004
  1,026
  1,048
  1,071
  1,095
  1,119
  1,144
  1,169
  1,195
  1,221
  1,248
  1,275
  1,303
  1,332
  1,361
  1,391
  1,422
  1,453
  1,485
  1,518
  1,551
  1,585
  1,620
  1,656
  1,692
  1,729
  1,767
Total operating expenses, $m
  8,672
  9,911
  11,247
  12,677
  14,200
  15,811
  17,512
  19,299
  21,172
  23,130
  25,153
  27,281
  29,496
  31,799
  34,192
  36,679
  39,264
  41,948
  44,739
  47,640
  50,656
  53,794
  57,061
  60,461
  64,005
  67,699
  71,551
  75,569
  79,764
  84,145
Operating income, $m
  1,107
  1,413
  1,744
  2,100
  2,480
  2,883
  3,310
  3,759
  4,230
  4,723
  5,258
  5,796
  6,356
  6,939
  7,546
  8,177
  8,833
  9,515
  10,225
  10,964
  11,732
  12,533
  13,367
  14,236
  15,142
  16,088
  17,075
  18,106
  19,183
  20,308
EBITDA, $m
  1,482
  1,844
  2,236
  2,656
  3,105
  3,582
  4,086
  4,616
  5,173
  5,755
  6,364
  6,998
  7,659
  8,347
  9,063
  9,807
  10,581
  11,386
  12,223
  13,094
  14,000
  14,944
  15,927
  16,951
  18,019
  19,133
  20,296
  21,510
  22,779
  24,105
Interest expense (income), $m
  205
  124
  194
  270
  352
  440
  534
  633
  738
  848
  963
  1,084
  1,210
  1,341
  1,478
  1,620
  1,767
  1,921
  2,080
  2,246
  2,419
  2,598
  2,784
  2,978
  3,180
  3,390
  3,609
  3,838
  4,076
  4,325
  4,584
Earnings before tax, $m
  983
  1,219
  1,474
  1,748
  2,040
  2,350
  2,677
  3,021
  3,382
  3,760
  4,175
  4,586
  5,015
  5,462
  5,926
  6,410
  6,912
  7,435
  7,979
  8,545
  9,135
  9,749
  10,389
  11,056
  11,752
  12,479
  13,237
  14,030
  14,858
  15,724
Tax expense, $m
  265
  329
  398
  472
  551
  634
  723
  816
  913
  1,015
  1,127
  1,238
  1,354
  1,475
  1,600
  1,731
  1,866
  2,007
  2,154
  2,307
  2,466
  2,632
  2,805
  2,985
  3,173
  3,369
  3,574
  3,788
  4,012
  4,246
Net income, $m
  717
  890
  1,076
  1,276
  1,489
  1,715
  1,954
  2,205
  2,469
  2,745
  3,048
  3,348
  3,661
  3,987
  4,326
  4,679
  5,046
  5,428
  5,825
  6,238
  6,668
  7,117
  7,584
  8,071
  8,579
  9,109
  9,663
  10,242
  10,846
  11,479

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
  11,984
  13,877
  15,920
  18,109
  20,440
  22,910
  25,517
  28,257
  31,130
  34,134
  37,268
  40,535
  43,936
  47,473
  51,150
  54,971
  58,942
  63,068
  67,358
  71,818
  76,456
  81,283
  86,308
  91,541
  96,994
  102,680
  108,610
  114,798
  121,259
  128,007
Adjusted assets (=assets-cash), $m
  11,984
  13,877
  15,920
  18,109
  20,440
  22,910
  25,517
  28,257
  31,130
  34,134
  37,268
  40,535
  43,936
  47,473
  51,150
  54,971
  58,942
  63,068
  67,358
  71,818
  76,456
  81,283
  86,308
  91,541
  96,994
  102,680
  108,610
  114,798
  121,259
  128,007
Revenue / Adjusted assets
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
  0.816
Average production assets, $m
  3,696
  4,280
  4,911
  5,586
  6,305
  7,067
  7,871
  8,716
  9,602
  10,528
  11,495
  12,503
  13,552
  14,643
  15,777
  16,956
  18,180
  19,453
  20,776
  22,152
  23,583
  25,072
  26,621
  28,236
  29,918
  31,671
  33,500
  35,409
  37,402
  39,484
Working capital, $m
  2,660
  3,080
  3,533
  4,019
  4,537
  5,085
  5,664
  6,272
  6,909
  7,576
  8,272
  8,997
  9,752
  10,537
  11,353
  12,201
  13,082
  13,998
  14,950
  15,940
  16,970
  18,041
  19,156
  20,318
  21,528
  22,790
  24,106
  25,480
  26,914
  28,411
Total debt, $m
  3,590
  4,999
  6,519
  8,147
  9,881
  11,719
  13,659
  15,697
  17,835
  20,069
  22,402
  24,832
  27,362
  29,994
  32,729
  35,572
  38,527
  41,597
  44,788
  48,106
  51,557
  55,149
  58,887
  62,780
  66,838
  71,068
  75,480
  80,084
  84,891
  89,911
Total liabilities, $m
  8,916
  10,325
  11,845
  13,473
  15,207
  17,045
  18,985
  21,023
  23,161
  25,395
  27,728
  30,158
  32,688
  35,320
  38,055
  40,898
  43,853
  46,923
  50,114
  53,432
  56,883
  60,475
  64,213
  68,106
  72,164
  76,394
  80,806
  85,410
  90,217
  95,237
Total equity, $m
  3,068
  3,553
  4,076
  4,636
  5,233
  5,865
  6,532
  7,234
  7,969
  8,738
  9,541
  10,377
  11,248
  12,153
  13,094
  14,073
  15,089
  16,146
  17,244
  18,385
  19,573
  20,808
  22,095
  23,434
  24,831
  26,286
  27,804
  29,388
  31,042
  32,770
Total liabilities and equity, $m
  11,984
  13,878
  15,921
  18,109
  20,440
  22,910
  25,517
  28,257
  31,130
  34,133
  37,269
  40,535
  43,936
  47,473
  51,149
  54,971
  58,942
  63,069
  67,358
  71,817
  76,456
  81,283
  86,308
  91,540
  96,995
  102,680
  108,610
  114,798
  121,259
  128,007
Debt-to-equity ratio
  1.170
  1.410
  1.600
  1.760
  1.890
  2.000
  2.090
  2.170
  2.240
  2.300
  2.350
  2.390
  2.430
  2.470
  2.500
  2.530
  2.550
  2.580
  2.600
  2.620
  2.630
  2.650
  2.670
  2.680
  2.690
  2.700
  2.710
  2.730
  2.730
  2.740
Adjusted equity ratio
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256
  0.256

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  717
  890
  1,076
  1,276
  1,489
  1,715
  1,954
  2,205
  2,469
  2,745
  3,048
  3,348
  3,661
  3,987
  4,326
  4,679
  5,046
  5,428
  5,825
  6,238
  6,668
  7,117
  7,584
  8,071
  8,579
  9,109
  9,663
  10,242
  10,846
  11,479
Depreciation, amort., depletion, $m
  375
  431
  492
  557
  626
  699
  776
  858
  943
  1,032
  1,105
  1,202
  1,303
  1,408
  1,517
  1,630
  1,748
  1,871
  1,998
  2,130
  2,268
  2,411
  2,560
  2,715
  2,877
  3,045
  3,221
  3,405
  3,596
  3,796
Funds from operations, $m
  1,092
  1,321
  1,568
  1,833
  2,115
  2,414
  2,730
  3,063
  3,412
  3,777
  4,153
  4,550
  4,964
  5,395
  5,843
  6,309
  6,794
  7,298
  7,822
  8,368
  8,936
  9,527
  10,144
  10,786
  11,456
  12,155
  12,884
  13,647
  14,443
  15,275
Change in working capital, $m
  386
  420
  453
  486
  517
  548
  579
  608
  638
  667
  696
  725
  755
  785
  816
  848
  881
  916
  952
  990
  1,030
  1,071
  1,115
  1,162
  1,210
  1,262
  1,316
  1,374
  1,434
  1,498
Cash from operations, $m
  706
  901
  1,114
  1,347
  1,597
  1,866
  2,152
  2,455
  2,774
  3,110
  3,457
  3,825
  4,209
  4,610
  5,027
  5,461
  5,913
  6,382
  6,870
  7,378
  7,906
  8,456
  9,028
  9,624
  10,245
  10,893
  11,568
  12,273
  13,009
  13,777
Maintenance CAPEX, $m
  -303
  -355
  -412
  -472
  -537
  -606
  -679
  -757
  -838
  -923
  -1,012
  -1,105
  -1,202
  -1,303
  -1,408
  -1,517
  -1,630
  -1,748
  -1,871
  -1,998
  -2,130
  -2,268
  -2,411
  -2,560
  -2,715
  -2,877
  -3,045
  -3,221
  -3,405
  -3,596
New CAPEX, $m
  -540
  -584
  -630
  -675
  -719
  -762
  -804
  -845
  -886
  -926
  -967
  -1,008
  -1,049
  -1,091
  -1,134
  -1,179
  -1,225
  -1,273
  -1,323
  -1,376
  -1,431
  -1,489
  -1,550
  -1,614
  -1,682
  -1,754
  -1,829
  -1,909
  -1,993
  -2,082
Cash from investing activities, $m
  -843
  -939
  -1,042
  -1,147
  -1,256
  -1,368
  -1,483
  -1,602
  -1,724
  -1,849
  -1,979
  -2,113
  -2,251
  -2,394
  -2,542
  -2,696
  -2,855
  -3,021
  -3,194
  -3,374
  -3,561
  -3,757
  -3,961
  -4,174
  -4,397
  -4,631
  -4,874
  -5,130
  -5,398
  -5,678
Free cash flow, $m
  -138
  -39
  73
  199
  341
  498
  668
  853
  1,050
  1,260
  1,478
  1,712
  1,958
  2,216
  2,485
  2,766
  3,058
  3,361
  3,677
  4,005
  4,346
  4,700
  5,068
  5,450
  5,848
  6,263
  6,694
  7,143
  7,611
  8,100
Issuance/(repayment) of debt, $m
  1,292
  1,409
  1,520
  1,628
  1,734
  1,838
  1,939
  2,039
  2,137
  2,235
  2,332
  2,431
  2,530
  2,631
  2,736
  2,843
  2,954
  3,070
  3,191
  3,318
  3,451
  3,591
  3,738
  3,894
  4,057
  4,230
  4,412
  4,604
  4,807
  5,021
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  1,292
  1,409
  1,520
  1,628
  1,734
  1,838
  1,939
  2,039
  2,137
  2,235
  2,332
  2,431
  2,530
  2,631
  2,736
  2,843
  2,954
  3,070
  3,191
  3,318
  3,451
  3,591
  3,738
  3,894
  4,057
  4,230
  4,412
  4,604
  4,807
  5,021
Total cash flow (excl. dividends), $m
  1,154
  1,370
  1,592
  1,828
  2,076
  2,336
  2,608
  2,892
  3,187
  3,495
  3,810
  4,143
  4,488
  4,848
  5,221
  5,609
  6,012
  6,431
  6,868
  7,323
  7,797
  8,291
  8,806
  9,344
  9,906
  10,492
  11,106
  11,747
  12,418
  13,120
Retained Cash Flow (-), $m
  -448
  -485
  -523
  -560
  -597
  -632
  -667
  -702
  -735
  -769
  -803
  -836
  -871
  -905
  -941
  -978
  -1,017
  -1,056
  -1,098
  -1,142
  -1,187
  -1,236
  -1,286
  -1,340
  -1,396
  -1,455
  -1,518
  -1,584
  -1,654
  -1,728
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
  706
  885
  1,070
  1,268
  1,479
  1,703
  1,940
  2,190
  2,452
  2,726
  3,008
  3,306
  3,618
  3,942
  4,279
  4,630
  4,995
  5,375
  5,770
  6,181
  6,609
  7,055
  7,520
  8,004
  8,510
  9,037
  9,588
  10,163
  10,764
  11,393
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
  677
  810
  931
  1,044
  1,146
  1,236
  1,311
  1,369
  1,409
  1,429
  1,428
  1,411
  1,376
  1,323
  1,256
  1,177
  1,087
  990
  888
  785
  684
  585
  493
  408
  331
  264
  206
  157
  118
  86
Current shareholders' claim on cash, %
  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
  100.0

Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives. Its Polyurethanes, Performance Products, Advanced Materials and Textile Effects segments produce differentiated organic chemical products and its Pigments and Additives segment produces inorganic chemical products. The Company's products are used in a range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, digital inks, electronics, medical, packaging, paints and coatings, power generation, refining, synthetic fiber, textile chemicals and dye industries.

FINANCIAL RATIOS  of  Huntsman (HUN)

Valuation Ratios
P/E Ratio 13.2
Price to Sales 0.4
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 3.9
Price to Free Cash Flow 6.4
Growth Rates
Sales Growth Rate -6.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -36.5%
Cap. Spend. - 3 Yr. Gr. Rate -2.2%
Financial Strength
Quick Ratio 8
Current Ratio 0.6
LT Debt to Equity 320.4%
Total Debt to Equity 324.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.2%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 5.6%
Ret/ On T. Cap. - 3 Yr. Avg. 4%
Return On Equity 23.9%
Return On Equity - 3 Yr. Avg. 15.6%
Asset Turnover 1
Profitability Ratios
Gross Margin 17.4%
Gross Margin - 3 Yr. Avg. 17.3%
EBITDA Margin 11.2%
EBITDA Margin - 3 Yr. Avg. 9.4%
Operating Margin 6.7%
Oper. Margin - 3 Yr. Avg. 5.2%
Pre-Tax Margin 4.6%
Pre-Tax Margin - 3 Yr. Avg. 3.3%
Net Profit Margin 3.4%
Net Profit Margin - 3 Yr. Avg. 2.4%
Effective Tax Rate 19.4%
Eff/ Tax Rate - 3 Yr. Avg. 19.4%
Payout Ratio 36.8%

HUN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HUN stock intrinsic value calculation we used $8358 million for the last fiscal year's total revenue generated by Huntsman. The default revenue input number comes from 0001 income statement of Huntsman. 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 HUN stock valuation model: a) initial revenue growth rate of 17% 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 HUN is calculated based on our internal credit rating of Huntsman, 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 Huntsman.
    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 HUN stock the variable cost ratio is equal to 79.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $920 million in the base year in the intrinsic value calculation for HUN 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 5.4% for Huntsman.

Corporate tax rate of 27% is the nominal tax rate for Huntsman. 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 HUN 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 HUN are equal to 37.8%.

Life of production assets of 10.4 years is the average useful life of capital assets used in Huntsman 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 HUN is equal to 27.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2620 million for Huntsman - 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 238.867 million for Huntsman 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 Huntsman at the current share price and the inputted number of shares is $4.3 billion.

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COMPANY NEWS

▶ Huntsman Corporation (HUN): Hedge Fund Sentiment Unchanged   [Dec-08-18 04:59PM  Insider Monkey]
▶ Huntsman Announces Fourth Quarter 2018 Common Dividend   [Nov-07-18 04:15PM  PR Newswire]
▶ Huntsman (HUN) Meets Q3 Earnings Estimates   [Oct-30-18 07:35AM  Zacks]
▶ Huntsman: 3Q Earnings Snapshot   [06:30AM  Associated Press]
▶ Huntsman Publishes 2017 Sustainability Report   [Oct-01-18 10:00AM  PR Newswire]
▶ [$$] Russia warns US against playing with fire over sanctions   [Sep-21-18 03:41AM  Financial Times]
▶ Huntsman Confirms Third Quarter 2018 Outlook   [Sep-05-18 06:45AM  PR Newswire]
▶ Buy the Dip With These ETFs and Stocks   [07:15AM  InvestorPlace]
▶ Huntsman Announces Third Quarter 2018 Common Dividend   [Aug-09-18 04:15PM  PR Newswire]
▶ Is Huntsman (HUN) a High-Growth Dividend Stock?   [Aug-08-18 09:15AM  Zacks]
▶ Yahoo Finance Live: Market Movers - Aug 7th, 2018   [Aug-07-18 07:20AM  Yahoo Finance Video]
▶ Huntsman: 2Q Earnings Snapshot   [08:38AM  Associated Press]

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