Intrinsic value of IHS Markit - INFO

Previous Close

$48.55

  Intrinsic Value

$38.32

stock screener

  Rating & Target

sell

-21%

Previous close

$48.55

 
Intrinsic value

$38.32

 
Up/down potential

-21%

 
Rating

sell

We calculate the intrinsic value of INFO 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 19.0

 

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, %
  11.30
  10.67
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
Revenue, $m
  4,006
  4,434
  4,882
  5,350
  5,839
  6,348
  6,878
  7,429
  8,002
  8,597
  9,216
  9,859
  10,528
  11,223
  11,945
  12,698
  13,481
  14,296
  15,146
  16,033
  16,957
  17,922
  18,929
  19,981
  21,081
  22,230
  23,432
  24,690
  26,006
  27,383
Variable operating expenses, $m
  2,638
  2,781
  2,931
  3,088
  3,251
  3,422
  3,599
  3,784
  3,976
  4,175
  3,085
  3,301
  3,524
  3,757
  3,999
  4,251
  4,513
  4,786
  5,071
  5,367
  5,677
  6,000
  6,337
  6,689
  7,057
  7,442
  7,845
  8,266
  8,706
  9,167
Fixed operating expenses, $m
  600
  613
  627
  640
  654
  669
  684
  699
  714
  730
  746
  762
  779
  796
  814
  831
  850
  868
  888
  907
  927
  947
  968
  990
  1,011
  1,034
  1,056
  1,080
  1,103
  1,128
Total operating expenses, $m
  3,238
  3,394
  3,558
  3,728
  3,905
  4,091
  4,283
  4,483
  4,690
  4,905
  3,831
  4,063
  4,303
  4,553
  4,813
  5,082
  5,363
  5,654
  5,959
  6,274
  6,604
  6,947
  7,305
  7,679
  8,068
  8,476
  8,901
  9,346
  9,809
  10,295
Operating income, $m
  769
  1,040
  1,324
  1,622
  1,933
  2,257
  2,595
  2,947
  3,312
  3,693
  5,385
  5,796
  6,224
  6,669
  7,133
  7,615
  8,118
  8,642
  9,188
  9,758
  10,353
  10,975
  11,624
  12,302
  13,012
  13,754
  14,531
  15,344
  16,196
  17,088
EBITDA, $m
  2,349
  2,650
  2,966
  3,297
  3,643
  4,003
  4,379
  4,769
  5,176
  5,598
  6,037
  6,494
  6,969
  7,464
  7,978
  8,514
  9,072
  9,654
  10,260
  10,893
  11,553
  12,243
  12,964
  13,717
  14,504
  15,328
  16,190
  17,092
  18,037
  19,026
Interest expense (income), $m
  103
  226
  267
  309
  353
  399
  447
  497
  549
  604
  660
  719
  779
  843
  908
  977
  1,048
  1,122
  1,199
  1,279
  1,363
  1,450
  1,541
  1,636
  1,735
  1,839
  1,947
  2,060
  2,178
  2,302
  2,431
Earnings before tax, $m
  542
  773
  1,015
  1,269
  1,534
  1,810
  2,098
  2,397
  2,709
  3,033
  4,666
  5,017
  5,382
  5,761
  6,156
  6,567
  6,996
  7,443
  7,909
  8,395
  8,903
  9,434
  9,988
  10,567
  11,173
  11,808
  12,471
  13,166
  13,894
  14,657
Tax expense, $m
  146
  209
  274
  343
  414
  489
  566
  647
  731
  819
  1,260
  1,355
  1,453
  1,555
  1,662
  1,773
  1,889
  2,010
  2,135
  2,267
  2,404
  2,547
  2,697
  2,853
  3,017
  3,188
  3,367
  3,555
  3,751
  3,957
Net income, $m
  396
  564
  741
  926
  1,120
  1,321
  1,531
  1,750
  1,977
  2,214
  3,407
  3,662
  3,929
  4,205
  4,494
  4,794
  5,107
  5,433
  5,774
  6,129
  6,499
  6,886
  7,291
  7,714
  8,157
  8,620
  9,104
  9,611
  10,143
  10,700

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
  16,221
  17,951
  19,765
  21,661
  23,639
  25,701
  27,846
  30,077
  32,397
  34,808
  37,313
  39,916
  42,622
  45,436
  48,362
  51,408
  54,578
  57,880
  61,322
  64,910
  68,652
  72,558
  76,636
  80,896
  85,347
  90,001
  94,867
  99,958
  105,285
  110,862
Adjusted assets (=assets-cash), $m
  16,221
  17,951
  19,765
  21,661
  23,639
  25,701
  27,846
  30,077
  32,397
  34,808
  37,313
  39,916
  42,622
  45,436
  48,362
  51,408
  54,578
  57,880
  61,322
  64,910
  68,652
  72,558
  76,636
  80,896
  85,347
  90,001
  94,867
  99,958
  105,285
  110,862
Revenue / Adjusted assets
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
  0.247
Average production assets, $m
  7,628
  8,442
  9,295
  10,187
  11,117
  12,087
  13,096
  14,145
  15,236
  16,370
  17,548
  18,772
  20,045
  21,368
  22,744
  24,176
  25,667
  27,220
  28,839
  30,526
  32,286
  34,123
  36,041
  38,044
  40,138
  42,326
  44,615
  47,009
  49,514
  52,137
Working capital, $m
  -501
  -554
  -610
  -669
  -730
  -794
  -860
  -929
  -1,000
  -1,075
  -1,152
  -1,232
  -1,316
  -1,403
  -1,493
  -1,587
  -1,685
  -1,787
  -1,893
  -2,004
  -2,120
  -2,240
  -2,366
  -2,498
  -2,635
  -2,779
  -2,929
  -3,086
  -3,251
  -3,423
Total debt, $m
  4,943
  5,721
  6,537
  7,391
  8,281
  9,209
  10,174
  11,178
  12,222
  13,307
  14,434
  15,605
  16,823
  18,089
  19,406
  20,777
  22,203
  23,689
  25,238
  26,853
  28,537
  30,295
  32,130
  34,047
  36,050
  38,144
  40,333
  42,624
  45,022
  47,531
Total liabilities, $m
  7,299
  8,078
  8,894
  9,747
  10,638
  11,565
  12,531
  13,535
  14,579
  15,663
  16,791
  17,962
  19,180
  20,446
  21,763
  23,133
  24,560
  26,046
  27,595
  29,209
  30,894
  32,651
  34,486
  36,403
  38,406
  40,500
  42,690
  44,981
  47,378
  49,888
Total equity, $m
  8,921
  9,873
  10,871
  11,913
  13,002
  14,135
  15,315
  16,543
  17,818
  19,144
  20,522
  21,954
  23,442
  24,990
  26,599
  28,274
  30,018
  31,834
  33,727
  35,700
  37,759
  39,907
  42,150
  44,493
  46,941
  49,500
  52,177
  54,977
  57,907
  60,974
Total liabilities and equity, $m
  16,220
  17,951
  19,765
  21,660
  23,640
  25,700
  27,846
  30,078
  32,397
  34,807
  37,313
  39,916
  42,622
  45,436
  48,362
  51,407
  54,578
  57,880
  61,322
  64,909
  68,653
  72,558
  76,636
  80,896
  85,347
  90,000
  94,867
  99,958
  105,285
  110,862
Debt-to-equity ratio
  0.550
  0.580
  0.600
  0.620
  0.640
  0.650
  0.660
  0.680
  0.690
  0.700
  0.700
  0.710
  0.720
  0.720
  0.730
  0.730
  0.740
  0.740
  0.750
  0.750
  0.760
  0.760
  0.760
  0.770
  0.770
  0.770
  0.770
  0.780
  0.780
  0.780
Adjusted equity ratio
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  396
  564
  741
  926
  1,120
  1,321
  1,531
  1,750
  1,977
  2,214
  3,407
  3,662
  3,929
  4,205
  4,494
  4,794
  5,107
  5,433
  5,774
  6,129
  6,499
  6,886
  7,291
  7,714
  8,157
  8,620
  9,104
  9,611
  10,143
  10,700
Depreciation, amort., depletion, $m
  1,580
  1,611
  1,642
  1,675
  1,710
  1,746
  1,784
  1,823
  1,863
  1,905
  652
  698
  745
  794
  846
  899
  954
  1,012
  1,072
  1,135
  1,200
  1,269
  1,340
  1,414
  1,492
  1,573
  1,659
  1,748
  1,841
  1,938
Funds from operations, $m
  1,976
  2,175
  2,383
  2,602
  2,830
  3,067
  3,315
  3,573
  3,841
  4,119
  4,059
  4,360
  4,674
  5,000
  5,339
  5,693
  6,061
  6,445
  6,846
  7,263
  7,700
  8,155
  8,631
  9,128
  9,649
  10,193
  10,763
  11,359
  11,984
  12,638
Change in working capital, $m
  -51
  -53
  -56
  -59
  -61
  -64
  -66
  -69
  -72
  -74
  -77
  -80
  -84
  -87
  -90
  -94
  -98
  -102
  -106
  -111
  -116
  -121
  -126
  -132
  -137
  -144
  -150
  -157
  -164
  -172
Cash from operations, $m
  2,027
  2,228
  2,439
  2,660
  2,891
  3,131
  3,381
  3,641
  3,912
  4,194
  4,136
  4,441
  4,757
  5,087
  5,430
  5,787
  6,159
  6,547
  6,952
  7,374
  7,815
  8,276
  8,757
  9,260
  9,786
  10,337
  10,913
  11,516
  12,148
  12,810
Maintenance CAPEX, $m
  -255
  -284
  -314
  -346
  -379
  -413
  -449
  -487
  -526
  -566
  -609
  -652
  -698
  -745
  -794
  -846
  -899
  -954
  -1,012
  -1,072
  -1,135
  -1,200
  -1,269
  -1,340
  -1,414
  -1,492
  -1,573
  -1,659
  -1,748
  -1,841
New CAPEX, $m
  -772
  -814
  -853
  -892
  -930
  -969
  -1,009
  -1,049
  -1,091
  -1,134
  -1,178
  -1,224
  -1,273
  -1,323
  -1,376
  -1,432
  -1,491
  -1,553
  -1,618
  -1,687
  -1,760
  -1,837
  -1,918
  -2,003
  -2,093
  -2,188
  -2,289
  -2,394
  -2,505
  -2,623
Cash from investing activities, $m
  -1,027
  -1,098
  -1,167
  -1,238
  -1,309
  -1,382
  -1,458
  -1,536
  -1,617
  -1,700
  -1,787
  -1,876
  -1,971
  -2,068
  -2,170
  -2,278
  -2,390
  -2,507
  -2,630
  -2,759
  -2,895
  -3,037
  -3,187
  -3,343
  -3,507
  -3,680
  -3,862
  -4,053
  -4,253
  -4,464
Free cash flow, $m
  1,000
  1,131
  1,273
  1,423
  1,582
  1,748
  1,923
  2,105
  2,295
  2,494
  2,350
  2,564
  2,787
  3,018
  3,259
  3,509
  3,769
  4,040
  4,322
  4,615
  4,920
  5,238
  5,570
  5,917
  6,278
  6,656
  7,051
  7,463
  7,895
  8,347
Issuance/(repayment) of debt, $m
  749
  779
  816
  853
  890
  928
  965
  1,004
  1,044
  1,085
  1,127
  1,171
  1,218
  1,266
  1,317
  1,370
  1,427
  1,486
  1,549
  1,615
  1,684
  1,758
  1,835
  1,917
  2,003
  2,094
  2,190
  2,291
  2,397
  2,510
Issuance/(repurchase) of shares, $m
  521
  388
  256
  116
  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  
  1,270
  1,167
  1,072
  969
  890
  928
  965
  1,004
  1,044
  1,085
  1,127
  1,171
  1,218
  1,266
  1,317
  1,370
  1,427
  1,486
  1,549
  1,615
  1,684
  1,758
  1,835
  1,917
  2,003
  2,094
  2,190
  2,291
  2,397
  2,510
Total cash flow (excl. dividends), $m
  2,270
  2,297
  2,345
  2,393
  2,472
  2,676
  2,888
  3,109
  3,339
  3,578
  3,477
  3,735
  4,004
  4,284
  4,576
  4,880
  5,196
  5,526
  5,870
  6,229
  6,604
  6,996
  7,406
  7,834
  8,282
  8,750
  9,241
  9,754
  10,292
  10,856
Retained Cash Flow (-), $m
  -917
  -952
  -997
  -1,043
  -1,088
  -1,134
  -1,180
  -1,227
  -1,276
  -1,326
  -1,378
  -1,432
  -1,488
  -1,547
  -1,610
  -1,675
  -1,744
  -1,816
  -1,893
  -1,973
  -2,058
  -2,148
  -2,243
  -2,343
  -2,448
  -2,559
  -2,677
  -2,800
  -2,930
  -3,067
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
  1,353
  1,345
  1,348
  1,350
  1,384
  1,542
  1,708
  1,882
  2,063
  2,252
  2,099
  2,304
  2,516
  2,737
  2,966
  3,205
  3,452
  3,710
  3,977
  4,256
  4,546
  4,848
  5,163
  5,491
  5,833
  6,191
  6,564
  6,954
  7,362
  7,789
Discount rate, %
  6.20
  6.51
  6.84
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.28
  12.89
  13.53
  14.21
  14.92
  15.67
  16.45
  17.27
  18.14
  19.04
  20.00
  21.00
  22.05
  23.15
  24.30
  25.52
PV of cash for distribution, $m
  1,274
  1,186
  1,105
  1,023
  962
  977
  977
  964
  938
  899
  728
  687
  638
  582
  522
  461
  399
  339
  283
  232
  186
  146
  112
  84
  61
  44
  30
  20
  13
  9
Current shareholders' claim on cash, %
  97.3
  95.6
  94.6
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1
  94.1

IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings. Its energy offerings are focused on upstream, midstream, downstream and power/gas/coal/renewables (PGCR) services. The Transportation segment includes its aerospace, defense and security (AD&S); automotive, and maritime and trade (M&T) product offerings. The CMS segment includes its product design; technology, media and telecommunication, and economics and country risk (ECR) product offerings. The Company's Financial Services segment provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services.

FINANCIAL RATIOS  of  IHS Markit (INFO)

Valuation Ratios
P/E Ratio 131.7
Price to Sales 7.4
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 31.6
Price to Free Cash Flow 41.1
Growth Rates
Sales Growth Rate 145.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 26.5%
Cap. Spend. - 3 Yr. Gr. Rate 2.5%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 40.6%
Total Debt to Equity 41.9%
Interest Coverage 2
Management Effectiveness
Return On Assets 3%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 2.1%
Ret/ On T. Cap. - 3 Yr. Avg. 4.6%
Return On Equity 3%
Return On Equity - 3 Yr. Avg. 5.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 62%
Gross Margin - 3 Yr. Avg. 20.7%
EBITDA Margin 21.2%
EBITDA Margin - 3 Yr. Avg. 31.1%
Operating Margin 9.5%
Oper. Margin - 3 Yr. Avg. 18.3%
Pre-Tax Margin 5.2%
Pre-Tax Margin - 3 Yr. Avg. 15.3%
Net Profit Margin 5.6%
Net Profit Margin - 3 Yr. Avg. 11.6%
Effective Tax Rate -3.5%
Eff/ Tax Rate - 3 Yr. Avg. 17.9%
Payout Ratio 0%

INFO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INFO stock intrinsic value calculation we used $3599.7 million for the last fiscal year's total revenue generated by IHS Markit. The default revenue input number comes from 0001 income statement of IHS Markit. 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 INFO stock valuation model: a) initial revenue growth rate of 11.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.2%, whose default value for INFO is calculated based on our internal credit rating of IHS Markit, 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 IHS Markit.
    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 INFO stock the variable cost ratio is equal to 69.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $587 million in the base year in the intrinsic value calculation for INFO 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 IHS Markit.

Corporate tax rate of 27% is the nominal tax rate for IHS Markit. 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 INFO 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 INFO are equal to 190.4%.

Life of production assets of 26.9 years is the average useful life of capital assets used in IHS Markit 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 INFO is equal to -12.5%. 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 - $8004.4 million for IHS Markit - 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 392 million for IHS Markit 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 IHS Markit at the current share price and the inputted number of shares is $19.0 billion.

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COMPANY NEWS

▶ IHS Markit Predicts Slowdown in Global Economy in 2019   [Dec-13-18 12:00PM  Business Wire]
▶ Is IHS Markit Ltd. (INFO) A Good Stock To Buy?   [Dec-09-18 02:51AM  Insider Monkey]
▶ [$$] Japan services sector holds gains after October rebound   [Dec-05-18 07:46AM  Financial Times]
▶ IHS Markit Canada Manufacturing PMI®   [Dec-03-18 11:52AM  Business Wire]
▶ IHS Markit US Manufacturing PMI   [11:51AM  Business Wire]
▶ AutoManager Adds Carfax Shop Tools To DeskManager DMS   [Nov-27-18 10:30AM  PR Newswire]
▶ [$$] Eurozone economy slows further as manufacturing slumps   [Nov-23-18 07:41AM  Financial Times]
▶ IHS Markit Reaffirms 2018 Guidance, Provides 2019 Guidance   [Nov-08-18 06:00AM  Business Wire]
▶ IHS Markit Canada Manufacturing PMI®   [Nov-01-18 12:15PM  Business Wire]
▶ IHS Markit US Manufacturing PMI   [11:45AM  Business Wire]
▶ IHS Markit Signs Aster to Private Markets Platform   [Oct-24-18 05:00AM  Business Wire]
▶ Oil markets are in a dichotomy: IHS   [Oct-03-18 11:55PM  CNBC Videos]
▶ IHS Markit Canada Manufacturing PMI®   [Oct-01-18 02:32PM  Business Wire]
▶ IHS Markit US Manufacturing PMI   [02:30PM  Business Wire]
▶ Eagle Ford oil company building its own frac sand mine   [Sep-19-18 06:00AM  American City Business Journals]

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