Intrinsic value of Ingersoll-Rand - IR

Previous Close

$97.04

  Intrinsic Value

$103.04

stock screener

  Rating & Target

hold

+6%

Previous close

$97.04

 
Intrinsic value

$103.04

 
Up/down potential

+6%

 
Rating

hold

We calculate the intrinsic value of IR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 24.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.01
  5.00
Revenue, $m
  14,922
  15,682
  16,478
  17,314
  18,191
  19,112
  20,077
  21,091
  22,155
  23,271
  24,443
  25,672
  26,963
  28,318
  29,741
  31,234
  32,801
  34,447
  36,174
  37,988
  39,892
  41,891
  43,990
  46,193
  48,506
  50,935
  53,485
  56,162
  58,974
  61,925
Variable operating expenses, $m
  13,097
  13,714
  14,362
  15,041
  15,754
  16,502
  17,287
  18,111
  18,976
  19,883
  19,868
  20,867
  21,916
  23,018
  24,174
  25,388
  26,662
  27,999
  29,404
  30,878
  32,425
  34,050
  35,756
  37,547
  39,427
  41,401
  43,474
  45,650
  47,935
  50,334
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
  13,097
  13,714
  14,362
  15,041
  15,754
  16,502
  17,287
  18,111
  18,976
  19,883
  19,868
  20,867
  21,916
  23,018
  24,174
  25,388
  26,662
  27,999
  29,404
  30,878
  32,425
  34,050
  35,756
  37,547
  39,427
  41,401
  43,474
  45,650
  47,935
  50,334
Operating income, $m
  1,825
  1,967
  2,116
  2,273
  2,437
  2,609
  2,790
  2,980
  3,179
  3,388
  4,575
  4,805
  5,047
  5,300
  5,567
  5,846
  6,139
  6,447
  6,771
  7,110
  7,467
  7,841
  8,234
  8,646
  9,079
  9,534
  10,011
  10,512
  11,038
  11,591
EBITDA, $m
  3,958
  4,160
  4,371
  4,593
  4,826
  5,070
  5,326
  5,595
  5,877
  6,173
  6,484
  6,810
  7,153
  7,512
  7,889
  8,285
  8,701
  9,138
  9,596
  10,077
  10,582
  11,112
  11,669
  12,254
  12,867
  13,512
  14,188
  14,898
  15,644
  16,427
Interest expense (income), $m
  170
  219
  250
  282
  315
  350
  387
  426
  466
  509
  553
  600
  649
  701
  755
  812
  872
  935
  1,000
  1,069
  1,142
  1,218
  1,298
  1,382
  1,470
  1,562
  1,659
  1,761
  1,868
  1,981
  2,099
Earnings before tax, $m
  1,606
  1,717
  1,835
  1,958
  2,087
  2,222
  2,364
  2,513
  2,670
  2,834
  3,975
  4,156
  4,346
  4,545
  4,754
  4,974
  5,205
  5,447
  5,701
  5,968
  6,249
  6,543
  6,852
  7,176
  7,517
  7,874
  8,250
  8,644
  9,057
  9,492
Tax expense, $m
  434
  464
  495
  529
  563
  600
  638
  679
  721
  765
  1,073
  1,122
  1,173
  1,227
  1,284
  1,343
  1,405
  1,471
  1,539
  1,611
  1,687
  1,767
  1,850
  1,938
  2,029
  2,126
  2,227
  2,334
  2,446
  2,563
Net income, $m
  1,172
  1,254
  1,339
  1,429
  1,523
  1,622
  1,726
  1,835
  1,949
  2,069
  2,901
  3,034
  3,172
  3,318
  3,471
  3,631
  3,800
  3,976
  4,162
  4,357
  4,562
  4,776
  5,002
  5,239
  5,487
  5,748
  6,022
  6,310
  6,612
  6,929

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
  19,106
  20,079
  21,099
  22,169
  23,292
  24,471
  25,707
  27,005
  28,367
  29,796
  31,296
  32,871
  34,524
  36,259
  38,080
  39,992
  41,999
  44,106
  46,318
  48,640
  51,078
  53,637
  56,325
  59,146
  62,108
  65,218
  68,483
  71,911
  75,510
  79,289
Adjusted assets (=assets-cash), $m
  19,106
  20,079
  21,099
  22,169
  23,292
  24,471
  25,707
  27,005
  28,367
  29,796
  31,296
  32,871
  34,524
  36,259
  38,080
  39,992
  41,999
  44,106
  46,318
  48,640
  51,078
  53,637
  56,325
  59,146
  62,108
  65,218
  68,483
  71,911
  75,510
  79,289
Revenue / Adjusted assets
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
  0.781
Average production assets, $m
  11,654
  12,247
  12,870
  13,523
  14,208
  14,926
  15,681
  16,472
  17,303
  18,175
  19,090
  20,050
  21,058
  22,117
  23,227
  24,394
  25,618
  26,903
  28,252
  29,669
  31,156
  32,717
  34,356
  36,077
  37,883
  39,780
  41,772
  43,863
  46,058
  48,363
Working capital, $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 debt, $m
  4,628
  5,219
  5,838
  6,488
  7,169
  7,885
  8,635
  9,423
  10,249
  11,117
  12,028
  12,983
  13,987
  15,040
  16,145
  17,306
  18,524
  19,803
  21,146
  22,555
  24,035
  25,589
  27,220
  28,932
  30,730
  32,618
  34,600
  36,681
  38,865
  41,159
Total liabilities, $m
  11,598
  12,188
  12,807
  13,457
  14,139
  14,854
  15,604
  16,392
  17,219
  18,086
  18,997
  19,953
  20,956
  22,009
  23,115
  24,275
  25,493
  26,772
  28,115
  29,525
  31,004
  32,558
  34,189
  35,902
  37,699
  39,587
  41,569
  43,650
  45,835
  48,129
Total equity, $m
  7,509
  7,891
  8,292
  8,713
  9,154
  9,617
  10,103
  10,613
  11,148
  11,710
  12,300
  12,918
  13,568
  14,250
  14,966
  15,717
  16,506
  17,334
  18,203
  19,116
  20,074
  21,080
  22,136
  23,244
  24,408
  25,631
  26,914
  28,261
  29,676
  31,161
Total liabilities and equity, $m
  19,107
  20,079
  21,099
  22,170
  23,293
  24,471
  25,707
  27,005
  28,367
  29,796
  31,297
  32,871
  34,524
  36,259
  38,081
  39,992
  41,999
  44,106
  46,318
  48,641
  51,078
  53,638
  56,325
  59,146
  62,107
  65,218
  68,483
  71,911
  75,511
  79,290
Debt-to-equity ratio
  0.620
  0.660
  0.700
  0.740
  0.780
  0.820
  0.850
  0.890
  0.920
  0.950
  0.980
  1.010
  1.030
  1.060
  1.080
  1.100
  1.120
  1.140
  1.160
  1.180
  1.200
  1.210
  1.230
  1.240
  1.260
  1.270
  1.290
  1.300
  1.310
  1.320
Adjusted equity ratio
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,172
  1,254
  1,339
  1,429
  1,523
  1,622
  1,726
  1,835
  1,949
  2,069
  2,901
  3,034
  3,172
  3,318
  3,471
  3,631
  3,800
  3,976
  4,162
  4,357
  4,562
  4,776
  5,002
  5,239
  5,487
  5,748
  6,022
  6,310
  6,612
  6,929
Depreciation, amort., depletion, $m
  2,133
  2,193
  2,255
  2,320
  2,389
  2,461
  2,536
  2,615
  2,698
  2,785
  1,909
  2,005
  2,106
  2,212
  2,323
  2,439
  2,562
  2,690
  2,825
  2,967
  3,116
  3,272
  3,436
  3,608
  3,788
  3,978
  4,177
  4,386
  4,606
  4,836
Funds from operations, $m
  3,305
  3,446
  3,594
  3,749
  3,912
  4,083
  4,262
  4,450
  4,647
  4,854
  4,810
  5,039
  5,278
  5,530
  5,793
  6,071
  6,361
  6,667
  6,987
  7,324
  7,677
  8,048
  8,437
  8,846
  9,275
  9,726
  10,199
  10,696
  11,218
  11,765
Change in working capital, $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 operations, $m
  3,305
  3,446
  3,594
  3,749
  3,912
  4,083
  4,262
  4,450
  4,647
  4,854
  4,810
  5,039
  5,278
  5,530
  5,793
  6,071
  6,361
  6,667
  6,987
  7,324
  7,677
  8,048
  8,437
  8,846
  9,275
  9,726
  10,199
  10,696
  11,218
  11,765
Maintenance CAPEX, $m
  -1,109
  -1,165
  -1,225
  -1,287
  -1,352
  -1,421
  -1,493
  -1,568
  -1,647
  -1,730
  -1,817
  -1,909
  -2,005
  -2,106
  -2,212
  -2,323
  -2,439
  -2,562
  -2,690
  -2,825
  -2,967
  -3,116
  -3,272
  -3,436
  -3,608
  -3,788
  -3,978
  -4,177
  -4,386
  -4,606
New CAPEX, $m
  -562
  -593
  -622
  -653
  -685
  -719
  -754
  -792
  -831
  -872
  -915
  -960
  -1,008
  -1,058
  -1,111
  -1,166
  -1,224
  -1,285
  -1,349
  -1,416
  -1,487
  -1,561
  -1,639
  -1,721
  -1,807
  -1,897
  -1,992
  -2,091
  -2,195
  -2,305
Cash from investing activities, $m
  -1,671
  -1,758
  -1,847
  -1,940
  -2,037
  -2,140
  -2,247
  -2,360
  -2,478
  -2,602
  -2,732
  -2,869
  -3,013
  -3,164
  -3,323
  -3,489
  -3,663
  -3,847
  -4,039
  -4,241
  -4,454
  -4,677
  -4,911
  -5,157
  -5,415
  -5,685
  -5,970
  -6,268
  -6,581
  -6,911
Free cash flow, $m
  1,634
  1,688
  1,747
  1,809
  1,875
  1,943
  2,015
  2,090
  2,169
  2,252
  2,078
  2,169
  2,265
  2,365
  2,471
  2,582
  2,698
  2,820
  2,948
  3,082
  3,223
  3,371
  3,527
  3,690
  3,861
  4,041
  4,230
  4,428
  4,636
  4,854
Issuance/(repayment) of debt, $m
  564
  590
  619
  650
  682
  715
  751
  788
  827
  868
  911
  956
  1,003
  1,053
  1,105
  1,160
  1,218
  1,279
  1,343
  1,410
  1,480
  1,554
  1,631
  1,712
  1,798
  1,888
  1,982
  2,081
  2,185
  2,294
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  
  564
  590
  619
  650
  682
  715
  751
  788
  827
  868
  911
  956
  1,003
  1,053
  1,105
  1,160
  1,218
  1,279
  1,343
  1,410
  1,480
  1,554
  1,631
  1,712
  1,798
  1,888
  1,982
  2,081
  2,185
  2,294
Total cash flow (excl. dividends), $m
  2,199
  2,278
  2,366
  2,459
  2,556
  2,658
  2,766
  2,878
  2,996
  3,120
  2,989
  3,125
  3,268
  3,419
  3,576
  3,742
  3,916
  4,099
  4,290
  4,492
  4,703
  4,925
  5,158
  5,402
  5,659
  5,929
  6,212
  6,509
  6,821
  7,148
Retained Cash Flow (-), $m
  -369
  -382
  -401
  -421
  -441
  -463
  -486
  -510
  -535
  -562
  -590
  -619
  -650
  -682
  -716
  -751
  -789
  -828
  -869
  -913
  -958
  -1,006
  -1,056
  -1,109
  -1,164
  -1,222
  -1,283
  -1,347
  -1,415
  -1,485
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
  1,830
  1,896
  1,965
  2,038
  2,115
  2,195
  2,280
  2,368
  2,461
  2,558
  2,399
  2,506
  2,619
  2,737
  2,861
  2,991
  3,127
  3,271
  3,421
  3,579
  3,745
  3,919
  4,102
  4,294
  4,495
  4,706
  4,928
  5,162
  5,406
  5,663
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
  1,754
  1,736
  1,710
  1,678
  1,639
  1,593
  1,540
  1,480
  1,414
  1,341
  1,139
  1,069
  996
  919
  840
  760
  680
  602
  527
  455
  387
  325
  269
  219
  175
  137
  106
  80
  59
  43
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

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company's business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car. Its Climate segment includes Trane and American Standard Heating and Air Conditioning, which provide heating, ventilation and air conditioning systems, and commercial and residential building services, parts, support and controls. It offers energy services and building automation through Trane Building Advantage and Nexia. Its Industrial segment includes compressed air and gas systems and services, power tools, material handling systems, ARO fluid management equipment, as well as Club Car golf, utility and rough terrain vehicles.

FINANCIAL RATIOS  of  Ingersoll-Rand (IR)

Valuation Ratios
P/E Ratio 17
Price to Sales 1.9
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 16.8
Price to Free Cash Flow 19.1
Growth Rates
Sales Growth Rate 1.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -26.8%
Cap. Spend. - 3 Yr. Gr. Rate -5.4%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 55.8%
Total Debt to Equity 61.3%
Interest Coverage 11
Management Effectiveness
Return On Assets 9.5%
Ret/ On Assets - 3 Yr. Avg. 6.7%
Return On Total Capital 14.2%
Ret/ On T. Cap. - 3 Yr. Avg. 9.9%
Return On Equity 23.7%
Return On Equity - 3 Yr. Avg. 16.4%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 31%
Gross Margin - 3 Yr. Avg. 30.5%
EBITDA Margin 16.8%
EBITDA Margin - 3 Yr. Avg. 14.5%
Operating Margin 11.5%
Oper. Margin - 3 Yr. Avg. 11.1%
Pre-Tax Margin 12.9%
Pre-Tax Margin - 3 Yr. Avg. 10.5%
Net Profit Margin 10.9%
Net Profit Margin - 3 Yr. Avg. 7.7%
Effective Tax Rate 16.1%
Eff/ Tax Rate - 3 Yr. Avg. 27.9%
Payout Ratio 23.6%

IR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IR stock intrinsic value calculation we used $14198 million for the last fiscal year's total revenue generated by Ingersoll-Rand. The default revenue input number comes from 2017 income statement of Ingersoll-Rand. 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 IR stock valuation model: a) initial revenue growth rate of 5.1% 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 IR is calculated based on our internal credit rating of Ingersoll-Rand, 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 Ingersoll-Rand.
    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 IR stock the variable cost ratio is equal to 88.1%.

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 IR 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 Ingersoll-Rand.

Corporate tax rate of 27% is the nominal tax rate for Ingersoll-Rand. 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 IR 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 IR are equal to 78.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Ingersoll-Rand 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 IR is equal to 0%. 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 - $7140 million for Ingersoll-Rand - 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 250 million for Ingersoll-Rand 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 Ingersoll-Rand at the current share price and the inputted number of shares is $24.3 billion.

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COMPANY NEWS

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▶ Accenture exec talks necessity of workplace equality and how to make it happen   [Jun-18-18 06:46AM  American City Business Journals]
▶ Ingersoll-Rand raises quarterly dividend by 18%   [Jun-11-18 07:18AM  MarketWatch]
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▶ Ingersoll Rand Declares Quarterly Dividend   [Apr-04-18 06:30AM  Business Wire]
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