Intrinsic value of IAC/InterActiveCorp. - IAC

Previous Close

$185.49

  Intrinsic Value

$297.12

stock screener

  Rating & Target

str. buy

+60%

Previous close

$185.49

 
Intrinsic value

$297.12

 
Up/down potential

+60%

 
Rating

str. buy

We calculate the intrinsic value of IAC 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 14.4

 

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, %
  38.00
  34.70
  31.73
  29.06
  26.65
  24.49
  22.54
  20.78
  19.21
  17.78
  16.51
  15.36
  14.32
  13.39
  12.55
  11.79
  11.11
  10.50
  9.95
  9.46
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
Revenue, $m
  4,564
  6,148
  8,098
  10,451
  13,237
  16,478
  20,192
  24,389
  29,073
  34,243
  39,895
  46,022
  52,612
  59,656
  67,142
  75,061
  83,404
  92,165
  101,338
  110,922
  120,918
  131,331
  142,165
  153,431
  165,142
  177,311
  189,957
  203,100
  216,763
  230,970
Variable operating expenses, $m
  4,487
  5,932
  7,712
  9,860
  12,402
  15,359
  18,749
  22,578
  26,853
  31,571
  36,407
  41,997
  48,011
  54,439
  61,271
  68,497
  76,111
  84,105
  92,476
  101,222
  110,344
  119,846
  129,733
  140,014
  150,700
  161,806
  173,346
  185,340
  197,807
  210,772
Fixed operating expenses, $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 operating expenses, $m
  4,487
  5,932
  7,712
  9,860
  12,402
  15,359
  18,749
  22,578
  26,853
  31,571
  36,407
  41,997
  48,011
  54,439
  61,271
  68,497
  76,111
  84,105
  92,476
  101,222
  110,344
  119,846
  129,733
  140,014
  150,700
  161,806
  173,346
  185,340
  197,807
  210,772
Operating income, $m
  77
  215
  386
  592
  835
  1,119
  1,443
  1,810
  2,220
  2,672
  3,489
  4,024
  4,601
  5,217
  5,871
  6,564
  7,293
  8,060
  8,862
  9,700
  10,574
  11,484
  12,432
  13,417
  14,441
  15,505
  16,611
  17,760
  18,955
  20,198
EBITDA, $m
  488
  657
  865
  1,117
  1,414
  1,761
  2,157
  2,606
  3,106
  3,658
  4,262
  4,917
  5,621
  6,374
  7,173
  8,019
  8,911
  9,847
  10,827
  11,851
  12,919
  14,031
  15,189
  16,392
  17,643
  18,944
  20,295
  21,699
  23,159
  24,677
Interest expense (income), $m
  107
  118
  194
  291
  410
  554
  724
  922
  1,148
  1,405
  1,691
  2,006
  2,352
  2,726
  3,128
  3,558
  4,015
  4,499
  5,008
  5,543
  6,103
  6,688
  7,299
  7,935
  8,596
  9,284
  9,999
  10,742
  11,514
  12,317
  13,151
Earnings before tax, $m
  -41
  21
  95
  182
  282
  395
  522
  662
  815
  981
  1,482
  1,673
  1,875
  2,089
  2,313
  2,549
  2,795
  3,051
  3,319
  3,597
  3,886
  4,186
  4,497
  4,821
  5,157
  5,506
  5,869
  6,246
  6,639
  7,047
Tax expense, $m
  0
  6
  26
  49
  76
  107
  141
  179
  220
  265
  400
  452
  506
  564
  625
  688
  755
  824
  896
  971
  1,049
  1,130
  1,214
  1,302
  1,392
  1,487
  1,585
  1,686
  1,792
  1,903
Net income, $m
  -41
  15
  69
  133
  206
  288
  381
  483
  595
  716
  1,082
  1,221
  1,369
  1,525
  1,689
  1,861
  2,040
  2,227
  2,423
  2,626
  2,836
  3,056
  3,283
  3,519
  3,765
  4,020
  4,284
  4,560
  4,846
  5,144

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
  6,926
  9,329
  12,289
  15,860
  20,086
  25,005
  30,640
  37,009
  44,116
  51,962
  60,539
  69,836
  79,836
  90,525
  101,885
  113,902
  126,562
  139,855
  153,775
  168,319
  183,488
  199,288
  215,728
  232,824
  250,594
  269,061
  288,250
  308,194
  328,927
  350,486
Adjusted assets (=assets-cash), $m
  6,926
  9,329
  12,289
  15,860
  20,086
  25,005
  30,640
  37,009
  44,116
  51,962
  60,539
  69,836
  79,836
  90,525
  101,885
  113,902
  126,562
  139,855
  153,775
  168,319
  183,488
  199,288
  215,728
  232,824
  250,594
  269,061
  288,250
  308,194
  328,927
  350,486
Revenue / Adjusted assets
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
  0.659
Average production assets, $m
  2,328
  3,135
  4,130
  5,330
  6,751
  8,404
  10,298
  12,438
  14,827
  17,464
  20,347
  23,471
  26,832
  30,424
  34,242
  38,281
  42,536
  47,004
  51,682
  56,570
  61,668
  66,979
  72,504
  78,250
  84,222
  90,429
  96,878
  103,581
  110,549
  117,795
Working capital, $m
  -411
  -553
  -729
  -941
  -1,191
  -1,483
  -1,817
  -2,195
  -2,617
  -3,082
  -3,591
  -4,142
  -4,735
  -5,369
  -6,043
  -6,756
  -7,506
  -8,295
  -9,120
  -9,983
  -10,883
  -11,820
  -12,795
  -13,809
  -14,863
  -15,958
  -17,096
  -18,279
  -19,509
  -20,787
Total debt, $m
  3,292
  4,931
  6,950
  9,385
  12,268
  15,622
  19,466
  23,809
  28,656
  34,007
  39,857
  46,197
  53,017
  60,307
  68,055
  76,250
  84,884
  93,950
  103,444
  113,363
  123,708
  134,483
  145,696
  157,355
  169,474
  182,068
  195,156
  208,758
  222,897
  237,600
Total liabilities, $m
  4,723
  6,362
  8,381
  10,816
  13,699
  17,053
  20,897
  25,240
  30,087
  35,438
  41,288
  47,628
  54,448
  61,738
  69,485
  77,681
  86,315
  95,381
  104,875
  114,793
  125,139
  135,914
  147,127
  158,786
  170,905
  183,499
  196,587
  210,188
  224,328
  239,031
Total equity, $m
  2,202
  2,967
  3,908
  5,043
  6,387
  7,952
  9,744
  11,769
  14,029
  16,524
  19,251
  22,208
  25,388
  28,787
  32,399
  36,221
  40,247
  44,474
  48,900
  53,525
  58,349
  63,373
  68,602
  74,038
  79,689
  85,561
  91,664
  98,006
  104,599
  111,454
Total liabilities and equity, $m
  6,925
  9,329
  12,289
  15,859
  20,086
  25,005
  30,641
  37,009
  44,116
  51,962
  60,539
  69,836
  79,836
  90,525
  101,884
  113,902
  126,562
  139,855
  153,775
  168,318
  183,488
  199,287
  215,729
  232,824
  250,594
  269,060
  288,251
  308,194
  328,927
  350,485
Debt-to-equity ratio
  1.490
  1.660
  1.780
  1.860
  1.920
  1.960
  2.000
  2.020
  2.040
  2.060
  2.070
  2.080
  2.090
  2.090
  2.100
  2.110
  2.110
  2.110
  2.120
  2.120
  2.120
  2.120
  2.120
  2.130
  2.130
  2.130
  2.130
  2.130
  2.130
  2.130
Adjusted equity ratio
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318
  0.318

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -41
  15
  69
  133
  206
  288
  381
  483
  595
  716
  1,082
  1,221
  1,369
  1,525
  1,689
  1,861
  2,040
  2,227
  2,423
  2,626
  2,836
  3,056
  3,283
  3,519
  3,765
  4,020
  4,284
  4,560
  4,846
  5,144
Depreciation, amort., depletion, $m
  411
  441
  479
  525
  579
  642
  714
  795
  886
  986
  774
  892
  1,020
  1,157
  1,302
  1,456
  1,617
  1,787
  1,965
  2,151
  2,345
  2,547
  2,757
  2,975
  3,202
  3,438
  3,684
  3,938
  4,203
  4,479
Funds from operations, $m
  370
  457
  549
  658
  784
  930
  1,095
  1,278
  1,481
  1,703
  1,856
  2,114
  2,389
  2,682
  2,991
  3,316
  3,657
  4,015
  4,388
  4,776
  5,181
  5,602
  6,040
  6,495
  6,967
  7,458
  7,968
  8,498
  9,050
  9,623
Change in working capital, $m
  -113
  -143
  -176
  -212
  -251
  -292
  -334
  -378
  -422
  -465
  -509
  -551
  -593
  -634
  -674
  -713
  -751
  -788
  -826
  -863
  -900
  -937
  -975
  -1,014
  -1,054
  -1,095
  -1,138
  -1,183
  -1,230
  -1,279
Cash from operations, $m
  483
  599
  724
  869
  1,035
  1,222
  1,429
  1,656
  1,903
  2,168
  2,364
  2,665
  2,982
  3,316
  3,664
  4,029
  4,408
  4,803
  5,213
  5,639
  6,081
  6,539
  7,015
  7,509
  8,021
  8,553
  9,106
  9,681
  10,279
  10,902
Maintenance CAPEX, $m
  -64
  -89
  -119
  -157
  -203
  -257
  -320
  -392
  -473
  -564
  -664
  -774
  -892
  -1,020
  -1,157
  -1,302
  -1,456
  -1,617
  -1,787
  -1,965
  -2,151
  -2,345
  -2,547
  -2,757
  -2,975
  -3,202
  -3,438
  -3,684
  -3,938
  -4,203
New CAPEX, $m
  -641
  -808
  -995
  -1,200
  -1,421
  -1,653
  -1,894
  -2,140
  -2,389
  -2,637
  -2,883
  -3,124
  -3,361
  -3,592
  -3,818
  -4,039
  -4,255
  -4,468
  -4,678
  -4,888
  -5,098
  -5,310
  -5,526
  -5,746
  -5,972
  -6,206
  -6,450
  -6,703
  -6,968
  -7,246
Cash from investing activities, $m
  -705
  -897
  -1,114
  -1,357
  -1,624
  -1,910
  -2,214
  -2,532
  -2,862
  -3,201
  -3,547
  -3,898
  -4,253
  -4,612
  -4,975
  -5,341
  -5,711
  -6,085
  -6,465
  -6,853
  -7,249
  -7,655
  -8,073
  -8,503
  -8,947
  -9,408
  -9,888
  -10,387
  -10,906
  -11,449
Free cash flow, $m
  -222
  -297
  -390
  -488
  -588
  -688
  -785
  -876
  -959
  -1,033
  -1,182
  -1,233
  -1,271
  -1,297
  -1,310
  -1,312
  -1,302
  -1,282
  -1,252
  -1,214
  -1,168
  -1,116
  -1,057
  -994
  -927
  -856
  -782
  -705
  -627
  -548
Issuance/(repayment) of debt, $m
  1,299
  1,639
  2,019
  2,435
  2,883
  3,354
  3,843
  4,343
  4,847
  5,351
  5,850
  6,340
  6,820
  7,290
  7,748
  8,195
  8,634
  9,066
  9,493
  9,919
  10,345
  10,775
  11,213
  11,659
  12,119
  12,594
  13,087
  13,602
  14,139
  14,703
Issuance/(repurchase) of shares, $m
  649
  749
  872
  1,003
  1,139
  1,276
  1,411
  1,542
  1,665
  1,779
  1,645
  1,735
  1,811
  1,874
  1,924
  1,961
  1,986
  2,000
  2,004
  1,999
  1,987
  1,969
  1,945
  1,917
  1,886
  1,853
  1,818
  1,782
  1,747
  1,712
Cash from financing (excl. dividends), $m  
  1,948
  2,388
  2,891
  3,438
  4,022
  4,630
  5,254
  5,885
  6,512
  7,130
  7,495
  8,075
  8,631
  9,164
  9,672
  10,156
  10,620
  11,066
  11,497
  11,918
  12,332
  12,744
  13,158
  13,576
  14,005
  14,447
  14,905
  15,384
  15,886
  16,415
Total cash flow (excl. dividends), $m
  1,726
  2,091
  2,501
  2,950
  3,433
  3,942
  4,470
  5,009
  5,553
  6,097
  6,313
  6,842
  7,360
  7,867
  8,361
  8,844
  9,318
  9,784
  10,245
  10,704
  11,164
  11,629
  12,100
  12,583
  13,079
  13,591
  14,124
  14,679
  15,259
  15,867
Retained Cash Flow (-), $m
  -649
  -764
  -941
  -1,136
  -1,344
  -1,564
  -1,792
  -2,025
  -2,260
  -2,495
  -2,728
  -2,956
  -3,180
  -3,399
  -3,613
  -3,821
  -4,026
  -4,227
  -4,427
  -4,625
  -4,824
  -5,024
  -5,228
  -5,437
  -5,651
  -5,872
  -6,102
  -6,342
  -6,593
  -6,856
Prev. year cash balance distribution, $m
  836
  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
  1,913
  1,327
  1,560
  1,815
  2,089
  2,378
  2,678
  2,984
  3,293
  3,602
  3,585
  3,886
  4,180
  4,468
  4,749
  5,023
  5,292
  5,557
  5,819
  6,079
  6,341
  6,604
  6,872
  7,146
  7,428
  7,719
  8,021
  8,337
  8,666
  9,012
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
  1,834
  1,215
  1,357
  1,494
  1,619
  1,726
  1,809
  1,865
  1,892
  1,888
  1,703
  1,658
  1,589
  1,500
  1,394
  1,276
  1,151
  1,023
  896
  772
  656
  548
  450
  364
  289
  225
  172
  129
  95
  68
Current shareholders' claim on cash, %
  93.6
  88.5
  84.4
  80.9
  77.9
  75.4
  73.2
  71.3
  69.6
  68.2
  67.1
  66.1
  65.2
  64.4
  63.7
  63.0
  62.4
  61.9
  61.5
  61.0
  60.7
  60.3
  60.0
  59.7
  59.5
  59.2
  59.0
  58.8
  58.7
  58.5

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company's brands include HomeAdvisor, Vimeo, Dictionary.com and Match Group's online dating portfolio, which includes Tinder, PlentyOfFish and OkCupid. Its segments include Match Group, HomeAdvisor, Video, Applications and Publishing. Match Group includes the dating and non-dating businesses of Match Group, Inc. HomeAdvisor is a home services digital marketplace that helps connect consumers with home professionals in North America, as well as in France, the Netherlands and Italy under various brands. Its Video consists of Vimeo, Electus, CollegeHumor, Notional, IAC Films and Daily Burn. Applications consists of Consumer, which include its direct-to-consumer downloadable desktop applications, Apalon, which houses its mobile applications and SlimWare, and Partnerships, which includes its business-to-business partnership operations. Publishing consists of Premium Brands business, and Ask & Other business.

FINANCIAL RATIOS  of  IAC/InterActiveCorp. (IAC)

Valuation Ratios
P/E Ratio -354.6
Price to Sales 4.6
Price to Book 7.8
Price to Tangible Book
Price to Cash Flow 49.8
Price to Free Cash Flow 67.9
Growth Rates
Sales Growth Rate -2.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 25.8%
Cap. Spend. - 3 Yr. Gr. Rate -0.5%
Financial Strength
Quick Ratio 71
Current Ratio 0.2
LT Debt to Equity 84.6%
Total Debt to Equity 85.7%
Interest Coverage 0
Management Effectiveness
Return On Assets -0.4%
Ret/ On Assets - 3 Yr. Avg. 4.6%
Return On Total Capital -1.2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.5%
Return On Equity -2.2%
Return On Equity - 3 Yr. Avg. 8.9%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 75.9%
Gross Margin - 3 Yr. Avg. 74.7%
EBITDA Margin 5.6%
EBITDA Margin - 3 Yr. Avg. 10.7%
Operating Margin -1.4%
Oper. Margin - 3 Yr. Avg. 4.7%
Pre-Tax Margin -2.6%
Pre-Tax Margin - 3 Yr. Avg. 3.5%
Net Profit Margin -1.3%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 80.2%
Eff/ Tax Rate - 3 Yr. Avg. 38.1%
Payout Ratio 0%

IAC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IAC stock intrinsic value calculation we used $3307.239 million for the last fiscal year's total revenue generated by IAC/InterActiveCorp.. The default revenue input number comes from 0001 income statement of IAC/InterActiveCorp.. 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 IAC stock valuation model: a) initial revenue growth rate of 38% 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 IAC is calculated based on our internal credit rating of IAC/InterActiveCorp., 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 IAC/InterActiveCorp..
    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 IAC stock the variable cost ratio is equal to 101%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for IAC 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 5.9% for IAC/InterActiveCorp..

Corporate tax rate of 27% is the nominal tax rate for IAC/InterActiveCorp.. 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 IAC 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 IAC are equal to 51%.

Life of production assets of 26.3 years is the average useful life of capital assets used in IAC/InterActiveCorp. 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 IAC is equal to -9%. 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 - $2430.028 million for IAC/InterActiveCorp. - 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 77.896 million for IAC/InterActiveCorp. 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 IAC/InterActiveCorp. at the current share price and the inputted number of shares is $14.4 billion.

RELATED COMPANIES Price Int.Val. Rating
GOOGL Alphabet Cl A 1,071.05 2,744.29  str.buy
MSFT Microsoft 107.28 189.75  str.buy
MEET Meet Group 3.88 14.22  str.buy
LOV Spark Networks 9.10 23.01  str.buy
ANGI ANGI Homeservi 18.50 40.25  str.buy
GCI Gannett 9.76 13.32  buy

COMPANY NEWS

▶ Tinder Uber-izes dating app with Swipe Surge   [Nov-15-18 02:07PM  American City Business Journals]
▶ Tinders head of product left to invest in startups   [Nov-14-18 04:33PM  American City Business Journals]
▶ ANGI Homeservices Rises as a New CEO Prepares to Step In   [Nov-08-18 04:16PM  Barrons.com]
▶ IAC/Interactive: 3Q Earnings Snapshot   [06:34PM  Associated Press]
▶ Match Stock Tumbles As Revenue, Earnings Forecast Disappoint   [Nov-06-18 06:20PM  Investor's Business Daily]
▶ 7 Straight-A Stocks to Build a Portfolio Around   [Nov-02-18 02:41PM  InvestorPlace]
▶ JCOM Stock Might Be the Best Buy You Never Have Heard Of   [Nov-01-18 10:42AM  InvestorPlace]
▶ Tinder testing programmatic ads through Google   [Oct-29-18 05:36PM  American City Business Journals]
▶ 10 Big Tech Stocks That Pack a Wallop   [Oct-19-18 02:12PM  InvestorPlace]
▶ IAC To Announce Earnings On November 7th   [Oct-17-18 04:05PM  PR Newswire]
▶ IBD Stock Of The Day: Match Stock Rebounds, Holds Up In Shaky Market   [Oct-16-18 04:14PM  Investor's Business Daily]
▶ TripSavvy Announces First-Ever Editors' Choice Awards   [Oct-15-18 10:00AM  PR Newswire]
▶ Match pushes back in Tinder dispute with motion to dimiss the case   [Oct-10-18 03:38PM  American City Business Journals]
▶ IAC claps back at Tinder co-founder, says he cashed out too soon   [01:04PM  American City Business Journals]
▶ ANGI Homeservices appoints Ridenour as new CEO   [Oct-09-18 04:23PM  MarketWatch]
▶ David Einhorn's Top-Performing Stocks   [Sep-27-18 05:11PM  GuruFocus.com]
▶ CollegeHumor goes uncensored with new VOD service   [Sep-26-18 01:57PM  American City Business Journals]
▶ Ladies first: Tinder testing Bumble-like chat feature in India   [Sep-25-18 02:37PM  American City Business Journals]
▶ Bumble pursues IPO, lawsuit against Match Group   [Sep-24-18 02:50PM  American City Business Journals]
▶ 10 Boring Stocks Growing Like Weeds   [Sep-14-18 01:05PM  InvestorPlace]
▶ David Einhorn's Winning Stocks in a Down Year   [Sep-12-18 05:38PM  GuruFocus.com]
▶ Tinder taps marketing exec Jenny Campbell as chief marketing officer   [Sep-06-18 09:04PM  American City Business Journals]
▶ What You Must Know About IAC/InterActiveCorps (NASDAQ:IAC) ROE   [Aug-31-18 09:26AM  Simply Wall St.]
▶ [$$] Uber chief preaches growth over short-term profit   [Aug-26-18 11:00PM  Financial Times]
▶ Dating 101: Tinder U launches on college campuses   [01:45PM  American City Business Journals]
▶ IAC/InterActiveCorp Has Further to Go on the Upside   [Aug-17-18 11:31AM  TheStreet.com]
▶ [$$] Match Group and IAC Face Lawsuit Over Tinders Valuation   [Aug-14-18 08:43PM  The Wall Street Journal]
▶ [$$] Match Group, IAC Face Suit Over Tinder Valuation   [04:17PM  The Wall Street Journal]
▶ Investors Should Still Swipe Right on Match Group   [Aug-13-18 10:53AM  Barrons.com]
▶ IAC/InterActive (IAC) Jumps: Stock Rises 7.7%   [Aug-09-18 08:44AM  Zacks]
▶ IAC/Interactive: 2Q Earnings Snapshot   [06:02PM  Associated Press]
▶ GRPN Stock Whiffs on Q2 Earnings and Revenue Expectations   [Aug-03-18 12:27PM  InvestorPlace]
▶ IAC To Announce Earnings On August 8th   [Jul-18-18 04:05PM  PR Newswire]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.