Intrinsic value of inTEST - INTT

Previous Close

$8.70

  Intrinsic Value

$802.78

stock screener

  Rating & Target

str. buy

+999%

Previous close

$8.70

 
Intrinsic value

$802.78

 
Up/down potential

+999%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of INTT 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 2016), $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 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.56
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  40
  64
  99
  148
  215
  303
  416
  559
  733
  944
  1,192
  1,480
  1,810
  2,181
  2,596
  3,052
  3,550
  4,089
  4,669
  5,288
  5,945
  6,640
  7,372
  8,139
  8,943
  9,783
  10,658
  11,570
  12,518
  13,504
  14,529
Variable operating expenses, $m
 
  11
  17
  25
  37
  52
  71
  95
  125
  161
  203
  252
  308
  371
  441
  519
  604
  695
  794
  899
  1,011
  1,129
  1,253
  1,384
  1,520
  1,663
  1,812
  1,967
  2,128
  2,296
  2,470
Fixed operating expenses, $m
 
  31
  32
  32
  33
  34
  35
  36
  37
  37
  38
  39
  40
  41
  42
  43
  45
  46
  47
  48
  49
  50
  52
  53
  54
  56
  57
  58
  60
  61
  63
Total operating expenses, $m
  36
  42
  49
  57
  70
  86
  106
  131
  162
  198
  241
  291
  348
  412
  483
  562
  649
  741
  841
  947
  1,060
  1,179
  1,305
  1,437
  1,574
  1,719
  1,869
  2,025
  2,188
  2,357
  2,533
Operating income, $m
  4
  22
  50
  90
  145
  217
  310
  428
  572
  746
  951
  1,189
  1,462
  1,769
  2,112
  2,490
  2,902
  3,349
  3,828
  4,341
  4,885
  5,461
  6,067
  6,703
  7,368
  8,064
  8,789
  9,544
  10,330
  11,147
  11,996
EBITDA, $m
  5
  23
  52
  92
  147
  220
  315
  434
  580
  755
  963
  1,204
  1,480
  1,791
  2,138
  2,520
  2,938
  3,389
  3,875
  4,394
  4,945
  5,527
  6,140
  6,784
  7,458
  8,162
  8,896
  9,660
  10,455
  11,282
  12,142
Interest expense (income), $m
  0
  0
  0
  0
  0
  1
  1
  2
  2
  3
  4
  5
  6
  8
  9
  11
  13
  15
  18
  20
  23
  26
  29
  32
  35
  39
  43
  46
  50
  55
  59
Earnings before tax, $m
  4
  22
  50
  90
  144
  216
  309
  426
  570
  743
  947
  1,184
  1,456
  1,762
  2,103
  2,478
  2,889
  3,333
  3,811
  4,321
  4,862
  5,435
  6,038
  6,671
  7,333
  8,025
  8,746
  9,498
  10,280
  11,093
  11,938
Tax expense, $m
  1
  6
  14
  24
  39
  58
  84
  115
  154
  201
  256
  320
  393
  476
  568
  669
  780
  900
  1,029
  1,167
  1,313
  1,467
  1,630
  1,801
  1,980
  2,167
  2,362
  2,564
  2,776
  2,995
  3,223
Net income, $m
  3
  16
  37
  66
  105
  158
  226
  311
  416
  542
  691
  865
  1,063
  1,286
  1,535
  1,809
  2,109
  2,433
  2,782
  3,154
  3,550
  3,967
  4,408
  4,870
  5,353
  5,858
  6,385
  6,933
  7,504
  8,098
  8,714

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  29
  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
  43
  22
  35
  52
  75
  106
  146
  196
  257
  330
  417
  518
  633
  764
  908
  1,068
  1,243
  1,431
  1,634
  1,851
  2,081
  2,324
  2,580
  2,849
  3,130
  3,424
  3,730
  4,050
  4,382
  4,727
  5,086
Adjusted assets (=assets-cash), $m
  14
  22
  35
  52
  75
  106
  146
  196
  257
  330
  417
  518
  633
  764
  908
  1,068
  1,243
  1,431
  1,634
  1,851
  2,081
  2,324
  2,580
  2,849
  3,130
  3,424
  3,730
  4,050
  4,382
  4,727
  5,086
Revenue / Adjusted assets
  2.857
  2.909
  2.829
  2.846
  2.867
  2.858
  2.849
  2.852
  2.852
  2.861
  2.859
  2.857
  2.859
  2.855
  2.859
  2.858
  2.856
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
  2.857
Average production assets, $m
  2
  3
  5
  7
  11
  15
  21
  28
  37
  47
  60
  74
  90
  109
  130
  153
  178
  204
  233
  264
  297
  332
  369
  407
  447
  489
  533
  578
  626
  675
  726
Working capital, $m
  33
  6
  10
  15
  21
  30
  42
  56
  73
  94
  119
  148
  181
  218
  260
  305
  355
  409
  467
  529
  595
  664
  737
  814
  894
  978
  1,066
  1,157
  1,252
  1,350
  1,453
Total debt, $m
  0
  3
  7
  13
  22
  33
  47
  65
  87
  113
  144
  180
  221
  268
  319
  376
  439
  506
  578
  656
  738
  825
  916
  1,012
  1,112
  1,217
  1,327
  1,441
  1,559
  1,682
  1,811
Total liabilities, $m
  5
  8
  12
  18
  27
  38
  52
  70
  92
  118
  149
  185
  226
  273
  324
  381
  444
  511
  583
  661
  743
  830
  921
  1,017
  1,117
  1,222
  1,332
  1,446
  1,564
  1,687
  1,816
Total equity, $m
  38
  14
  22
  33
  48
  68
  94
  126
  165
  212
  268
  333
  407
  491
  584
  687
  799
  920
  1,051
  1,190
  1,338
  1,494
  1,659
  1,832
  2,013
  2,202
  2,399
  2,604
  2,817
  3,039
  3,270
Total liabilities and equity, $m
  43
  22
  34
  51
  75
  106
  146
  196
  257
  330
  417
  518
  633
  764
  908
  1,068
  1,243
  1,431
  1,634
  1,851
  2,081
  2,324
  2,580
  2,849
  3,130
  3,424
  3,731
  4,050
  4,381
  4,726
  5,086
Debt-to-equity ratio
  0.000
  0.210
  0.330
  0.400
  0.450
  0.480
  0.500
  0.520
  0.520
  0.530
  0.540
  0.540
  0.540
  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
Adjusted equity ratio
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643
  0.643

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3
  16
  37
  66
  105
  158
  226
  311
  416
  542
  691
  865
  1,063
  1,286
  1,535
  1,809
  2,109
  2,433
  2,782
  3,154
  3,550
  3,967
  4,408
  4,870
  5,353
  5,858
  6,385
  6,933
  7,504
  8,098
  8,714
Depreciation, amort., depletion, $m
  1
  1
  1
  2
  2
  3
  4
  6
  8
  10
  12
  15
  18
  22
  26
  31
  36
  41
  47
  53
  59
  66
  74
  81
  89
  98
  107
  116
  125
  135
  145
Funds from operations, $m
  4
  17
  38
  67
  108
  161
  230
  317
  423
  552
  703
  879
  1,081
  1,308
  1,561
  1,840
  2,144
  2,474
  2,829
  3,207
  3,609
  4,034
  4,481
  4,951
  5,443
  5,956
  6,492
  7,049
  7,629
  8,233
  8,860
Change in working capital, $m
  0
  2
  3
  5
  7
  9
  11
  14
  17
  21
  25
  29
  33
  37
  41
  46
  50
  54
  58
  62
  66
  69
  73
  77
  80
  84
  88
  91
  95
  99
  103
Cash from operations, $m
  4
  15
  34
  62
  101
  152
  219
  303
  406
  531
  679
  851
  1,048
  1,271
  1,519
  1,794
  2,095
  2,420
  2,771
  3,145
  3,543
  3,964
  4,408
  4,874
  5,362
  5,872
  6,404
  6,958
  7,535
  8,134
  8,757
Maintenance CAPEX, $m
  0
  0
  -1
  -1
  -1
  -2
  -3
  -4
  -6
  -7
  -9
  -12
  -15
  -18
  -22
  -26
  -31
  -36
  -41
  -47
  -53
  -59
  -66
  -74
  -81
  -89
  -98
  -107
  -116
  -125
  -135
New CAPEX, $m
  0
  -1
  -2
  -2
  -3
  -4
  -6
  -7
  -9
  -11
  -12
  -14
  -16
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -47
  -49
  -51
Cash from investing activities, $m
  0
  -1
  -3
  -3
  -4
  -6
  -9
  -11
  -15
  -18
  -21
  -26
  -31
  -37
  -43
  -49
  -56
  -63
  -70
  -78
  -86
  -94
  -103
  -112
  -121
  -131
  -142
  -153
  -163
  -174
  -186
Free cash flow, $m
  4
  13
  32
  59
  96
  146
  210
  291
  392
  513
  657
  824
  1,016
  1,234
  1,477
  1,745
  2,039
  2,358
  2,701
  3,067
  3,457
  3,870
  4,305
  4,762
  5,241
  5,741
  6,262
  6,806
  7,371
  7,960
  8,571
Issuance/(repayment) of debt, $m
  0
  3
  4
  6
  8
  11
  14
  18
  22
  26
  31
  36
  41
  46
  52
  57
  62
  67
  72
  77
  82
  87
  91
  96
  100
  105
  109
  114
  119
  123
  128
Issuance/(repurchase) of shares, $m
  -1
  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
  3
  4
  6
  8
  11
  14
  18
  22
  26
  31
  36
  41
  46
  52
  57
  62
  67
  72
  77
  82
  87
  91
  96
  100
  105
  109
  114
  119
  123
  128
Total cash flow (excl. dividends), $m
  3
  16
  36
  65
  105
  157
  224
  309
  414
  539
  688
  860
  1,058
  1,280
  1,529
  1,802
  2,101
  2,425
  2,773
  3,145
  3,540
  3,957
  4,397
  4,858
  5,341
  5,846
  6,372
  6,920
  7,490
  8,083
  8,699
Retained Cash Flow (-), $m
  -2
  -5
  -8
  -11
  -15
  -20
  -26
  -32
  -39
  -47
  -56
  -65
  -74
  -84
  -93
  -103
  -112
  -121
  -130
  -139
  -148
  -156
  -165
  -173
  -181
  -189
  -197
  -205
  -213
  -222
  -231
Prev. year cash balance distribution, $m
 
  29
  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
 
  40
  29
  54
  90
  137
  199
  277
  374
  492
  632
  795
  983
  1,197
  1,435
  1,700
  1,989
  2,304
  2,643
  3,006
  3,392
  3,801
  4,232
  4,685
  5,160
  5,657
  6,175
  6,715
  7,276
  7,861
  8,468
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
 
  38
  26
  47
  74
  106
  144
  187
  234
  283
  331
  378
  420
  455
  482
  499
  506
  501
  487
  463
  431
  393
  351
  307
  263
  220
  180
  144
  113
  86
  64
Current shareholders' claim on cash, %
  100
  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

inTEST Corporation is an independent designer, manufacturer and marketer of thermal, mechanical and electrical products that are used by semiconductor manufacturers in conjunction with automated test equipment (ATE), in the testing of integrated circuit (ICs). The Company operates through three segments: Thermal Products, Mechanical Products and Electrical Products. Its thermal products are sold into the environmental test market encompassing a range of markets, including the ATE, automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets. It offers three lines of manipulator products: the in2(R), the Aero Series and the Cobal Series. Its electrical products, which include various types of tester interfaces, provide the electrical connections between the tester and the wafer prober or IC handler to carry the electrical signals between the tester and the probe card on the prober or the test socket on the handler.

FINANCIAL RATIOS  of  inTEST (INTT)

Valuation Ratios
P/E Ratio 30
Price to Sales 2.3
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 22.5
Price to Free Cash Flow 22.5
Growth Rates
Sales Growth Rate 2.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -100%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.2%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 8.1%
Ret/ On T. Cap. - 3 Yr. Avg. 7.7%
Return On Equity 8.1%
Return On Equity - 3 Yr. Avg. 7.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 50%
Gross Margin - 3 Yr. Avg. 48.8%
EBITDA Margin 12.5%
EBITDA Margin - 3 Yr. Avg. 12.3%
Operating Margin 10%
Oper. Margin - 3 Yr. Avg. 9.9%
Pre-Tax Margin 10%
Pre-Tax Margin - 3 Yr. Avg. 9.9%
Net Profit Margin 7.5%
Net Profit Margin - 3 Yr. Avg. 6.6%
Effective Tax Rate 25%
Eff/ Tax Rate - 3 Yr. Avg. 32.8%
Payout Ratio 0%

INTT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INTT stock intrinsic value calculation we used $40 million for the last fiscal year's total revenue generated by inTEST. The default revenue input number comes from 2016 income statement of inTEST. 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 INTT stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for INTT is calculated based on our internal credit rating of inTEST, 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 inTEST.
    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 INTT stock the variable cost ratio is equal to 17.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $30 million in the base year in the intrinsic value calculation for INTT 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 3.5% for inTEST.

Corporate tax rate of 27% is the nominal tax rate for inTEST. 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 INTT 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 INTT are equal to 5%.

Life of production assets of 4 years is the average useful life of capital assets used in inTEST 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 INTT is equal to 10%. 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 - $38 million for inTEST - 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 10.402 million for inTEST 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 inTEST at the current share price and the inputted number of shares is $0.1 billion.

RELATED COMPANIES Price Int.Val. Rating
TER Teradyne 40.83 68.02  str.buy
XCRA Xcerra 9.89 191.24  str.buy
COHU Cohu 22.03 7.71  str.sell
AEHR Aehr Test Syst 2.65 8.72  str.buy
RTEC Rudolph Techno 23.40 11.67  str.sell
TRT Trio-Tech Inte 7.09 38.79  str.buy
NANO Nanometrics 24.60 93.13  str.buy

COMPANY NEWS

▶ ETFs with exposure to inTEST Corp. : December 12, 2017   [Dec-12-17 01:21PM  Capital Cube]
▶ inTEST to Participate in Investor Conferences December 2017   [Nov-29-17 11:01AM  GlobeNewswire]
▶ inTEST Reports 2017 Third Quarter Financial Results   [Nov-02-17 04:05PM  GlobeNewswire]
▶ ETFs with exposure to inTEST Corp. : October 23, 2017   [Oct-23-17 10:43AM  Capital Cube]
▶ ETFs with exposure to inTEST Corp. : October 10, 2017   [Oct-10-17 11:33AM  Capital Cube]
▶ Does inTEST Corporations (INTT) PE Ratio Warrant A Buy?   [Sep-19-17 03:39PM  Simply Wall St.]
▶ ETFs with exposure to inTEST Corp. : September 2, 2017   [Sep-01-17 08:04PM  Capital Cube]
▶ ETFs with exposure to inTEST Corp. : July 4, 2017   [Jul-04-17 03:03PM  Capital Cube]
▶ ETFs with exposure to inTEST Corp. : May 18, 2017   [May-18-17 01:48PM  Capital Cube]
▶ inTEST Reports 2017 First Quarter Financial Results   [May-04-17 04:05PM  Marketwired]
▶ ETFs with exposure to inTEST Corp. : April 25, 2017   [Apr-25-17 03:37PM  Capital Cube]
▶ ETFs with exposure to inTEST Corp. : April 7, 2017   [Apr-07-17 04:53PM  Capital Cube]
▶ inTEST Corp.: Strong price momentum but will it sustain?   [Mar-13-17 05:22PM  Capital Cube]
▶ Chip Gear Stocks Rocking As Investors Come Knocking   [Mar-10-17 04:45PM  Investor's Business Daily]
▶ inTEST Reports 2016 Third Quarter Financial Results   [Nov-03-16 06:30AM  Marketwired]
▶ inTEST Reports 2016 Second Quarter Financial Results   [Aug-04-16 04:05PM  Marketwired]
▶ inTEST Reports 2016 First Quarter Financial Results   [May-04-16 04:05PM  Marketwired]
▶ Buy Penny Stocks Using the Wisdom of Peter Lynch   [Nov-19  03:53PM  at Investopedia]
▶ inTEST Reports Third Quarter 2015 Financial Results   [Nov-03  04:15PM  Marketwired]
▶ inTEST Announces Stock Repurchase Program   [04:05PM  Marketwired]
▶ 10-Q for inTEST Corp.   [Aug-17  08:13PM  at Company Spotlight]
▶ inTEST Reports Second Quarter 2015 Financial Results   [Aug-05  04:05PM  Marketwired]
▶ 10-Q for inTEST Corp.   [May-16  08:09PM  at Company Spotlight]
▶ 10-K for inTEST Corp.   [Apr-30  08:13PM  at Company Spotlight]
▶ inTEST Reports First Quarter 2015 Financial Results   [Apr-29  04:57PM  at noodls]
Financial statements of INTT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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