Intrinsic value of Kimberly-Clark - KMB

Previous Close

$111.13

  Intrinsic Value

$53.18

stock screener

  Rating & Target

str. sell

-52%

Previous close

$111.13

 
Intrinsic value

$53.18

 
Up/down potential

-52%

 
Rating

str. sell

We calculate the intrinsic value of KMB 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 39.1

 

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, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  18,624
  19,053
  19,542
  20,092
  20,701
  21,369
  22,097
  22,885
  23,734
  24,644
  25,619
  26,659
  27,766
  28,942
  30,191
  31,514
  32,914
  34,395
  35,960
  37,613
  39,356
  41,195
  43,133
  45,175
  47,325
  49,590
  51,973
  54,481
  57,119
  59,895
Variable operating expenses, $m
  15,231
  15,578
  15,974
  16,419
  16,912
  17,453
  18,042
  18,680
  19,367
  20,104
  20,735
  21,577
  22,473
  23,425
  24,435
  25,506
  26,640
  27,839
  29,105
  30,442
  31,854
  33,342
  34,910
  36,563
  38,304
  40,136
  42,065
  44,095
  46,231
  48,477
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
  15,231
  15,578
  15,974
  16,419
  16,912
  17,453
  18,042
  18,680
  19,367
  20,104
  20,735
  21,577
  22,473
  23,425
  24,435
  25,506
  26,640
  27,839
  29,105
  30,442
  31,854
  33,342
  34,910
  36,563
  38,304
  40,136
  42,065
  44,095
  46,231
  48,477
Operating income, $m
  3,393
  3,474
  3,568
  3,673
  3,789
  3,916
  4,055
  4,205
  4,367
  4,540
  4,884
  5,082
  5,293
  5,517
  5,755
  6,008
  6,275
  6,557
  6,855
  7,170
  7,502
  7,853
  8,222
  8,612
  9,022
  9,453
  9,908
  10,386
  10,889
  11,418
EBITDA, $m
  4,452
  4,554
  4,671
  4,803
  4,948
  5,108
  5,282
  5,470
  5,673
  5,891
  6,124
  6,372
  6,637
  6,918
  7,217
  7,533
  7,868
  8,222
  8,596
  8,991
  9,407
  9,847
  10,310
  10,798
  11,312
  11,853
  12,423
  13,023
  13,653
  14,317
Interest expense (income), $m
  315
  401
  368
  385
  405
  427
  452
  479
  508
  540
  574
  611
  650
  692
  737
  784
  834
  888
  944
  1,004
  1,067
  1,134
  1,204
  1,278
  1,356
  1,439
  1,525
  1,617
  1,713
  1,814
  1,920
Earnings before tax, $m
  2,992
  3,106
  3,183
  3,268
  3,362
  3,464
  3,576
  3,697
  3,827
  3,966
  4,273
  4,432
  4,601
  4,781
  4,971
  5,173
  5,387
  5,613
  5,851
  6,103
  6,369
  6,649
  6,944
  7,255
  7,583
  7,928
  8,291
  8,673
  9,075
  9,497
Tax expense, $m
  808
  839
  859
  882
  908
  935
  966
  998
  1,033
  1,071
  1,154
  1,197
  1,242
  1,291
  1,342
  1,397
  1,454
  1,515
  1,580
  1,648
  1,720
  1,795
  1,875
  1,959
  2,047
  2,141
  2,239
  2,342
  2,450
  2,564
Net income, $m
  2,184
  2,268
  2,323
  2,385
  2,454
  2,529
  2,611
  2,699
  2,794
  2,895
  3,119
  3,235
  3,359
  3,490
  3,629
  3,776
  3,932
  4,097
  4,271
  4,455
  4,649
  4,854
  5,069
  5,296
  5,536
  5,787
  6,052
  6,331
  6,625
  6,933

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
  15,456
  15,811
  16,218
  16,674
  17,179
  17,734
  18,338
  18,992
  19,696
  20,452
  21,261
  22,123
  23,042
  24,018
  25,055
  26,153
  27,315
  28,544
  29,843
  31,214
  32,661
  34,186
  35,795
  37,489
  39,274
  41,153
  43,131
  45,212
  47,402
  49,705
Adjusted assets (=assets-cash), $m
  15,456
  15,811
  16,218
  16,674
  17,179
  17,734
  18,338
  18,992
  19,696
  20,452
  21,261
  22,123
  23,042
  24,018
  25,055
  26,153
  27,315
  28,544
  29,843
  31,214
  32,661
  34,186
  35,795
  37,489
  39,274
  41,153
  43,131
  45,212
  47,402
  49,705
Revenue / Adjusted assets
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
  1.205
Average production assets, $m
  9,014
  9,221
  9,458
  9,724
  10,019
  10,343
  10,695
  11,076
  11,487
  11,928
  12,400
  12,903
  13,439
  14,008
  14,612
  15,253
  15,931
  16,647
  17,405
  18,204
  19,048
  19,938
  20,876
  21,864
  22,905
  24,001
  25,155
  26,369
  27,646
  28,989
Working capital, $m
  -1,062
  -1,086
  -1,114
  -1,145
  -1,180
  -1,218
  -1,260
  -1,304
  -1,353
  -1,405
  -1,460
  -1,520
  -1,583
  -1,650
  -1,721
  -1,796
  -1,876
  -1,961
  -2,050
  -2,144
  -2,243
  -2,348
  -2,459
  -2,575
  -2,698
  -2,827
  -2,962
  -3,105
  -3,256
  -3,414
Total debt, $m
  6,813
  7,133
  7,499
  7,909
  8,364
  8,864
  9,407
  9,995
  10,629
  11,310
  12,037
  12,814
  13,641
  14,520
  15,452
  16,440
  17,486
  18,592
  19,761
  20,995
  22,298
  23,671
  25,118
  26,643
  28,250
  29,941
  31,721
  33,594
  35,565
  37,638
Total liabilities, $m
  13,910
  14,230
  14,596
  15,006
  15,461
  15,961
  16,504
  17,092
  17,726
  18,407
  19,134
  19,911
  20,738
  21,617
  22,549
  23,537
  24,583
  25,689
  26,858
  28,092
  29,395
  30,768
  32,215
  33,740
  35,347
  37,038
  38,818
  40,691
  42,662
  44,735
Total equity, $m
  1,546
  1,581
  1,622
  1,667
  1,718
  1,773
  1,834
  1,899
  1,970
  2,045
  2,126
  2,212
  2,304
  2,402
  2,505
  2,615
  2,731
  2,854
  2,984
  3,121
  3,266
  3,419
  3,579
  3,749
  3,927
  4,115
  4,313
  4,521
  4,740
  4,971
Total liabilities and equity, $m
  15,456
  15,811
  16,218
  16,673
  17,179
  17,734
  18,338
  18,991
  19,696
  20,452
  21,260
  22,123
  23,042
  24,019
  25,054
  26,152
  27,314
  28,543
  29,842
  31,213
  32,661
  34,187
  35,794
  37,489
  39,274
  41,153
  43,131
  45,212
  47,402
  49,706
Debt-to-equity ratio
  4.410
  4.510
  4.620
  4.740
  4.870
  5.000
  5.130
  5.260
  5.400
  5.530
  5.660
  5.790
  5.920
  6.050
  6.170
  6.290
  6.400
  6.510
  6.620
  6.730
  6.830
  6.920
  7.020
  7.110
  7.190
  7.280
  7.350
  7.430
  7.500
  7.570
Adjusted equity ratio
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  2,184
  2,268
  2,323
  2,385
  2,454
  2,529
  2,611
  2,699
  2,794
  2,895
  3,119
  3,235
  3,359
  3,490
  3,629
  3,776
  3,932
  4,097
  4,271
  4,455
  4,649
  4,854
  5,069
  5,296
  5,536
  5,787
  6,052
  6,331
  6,625
  6,933
Depreciation, amort., depletion, $m
  1,059
  1,080
  1,103
  1,130
  1,160
  1,192
  1,227
  1,265
  1,306
  1,350
  1,240
  1,290
  1,344
  1,401
  1,461
  1,525
  1,593
  1,665
  1,740
  1,820
  1,905
  1,994
  2,088
  2,186
  2,291
  2,400
  2,515
  2,637
  2,765
  2,899
Funds from operations, $m
  3,243
  3,347
  3,427
  3,515
  3,613
  3,721
  3,838
  3,964
  4,100
  4,246
  4,359
  4,526
  4,703
  4,891
  5,090
  5,302
  5,525
  5,762
  6,012
  6,276
  6,554
  6,848
  7,157
  7,483
  7,826
  8,187
  8,568
  8,968
  9,389
  9,832
Change in working capital, $m
  -21
  -24
  -28
  -31
  -35
  -38
  -41
  -45
  -48
  -52
  -56
  -59
  -63
  -67
  -71
  -75
  -80
  -84
  -89
  -94
  -99
  -105
  -110
  -116
  -123
  -129
  -136
  -143
  -150
  -158
Cash from operations, $m
  3,264
  3,372
  3,455
  3,547
  3,648
  3,759
  3,879
  4,009
  4,148
  4,298
  4,415
  4,585
  4,766
  4,958
  5,161
  5,377
  5,605
  5,846
  6,101
  6,370
  6,653
  6,952
  7,267
  7,599
  7,949
  8,317
  8,704
  9,111
  9,539
  9,990
Maintenance CAPEX, $m
  -883
  -901
  -922
  -946
  -972
  -1,002
  -1,034
  -1,070
  -1,108
  -1,149
  -1,193
  -1,240
  -1,290
  -1,344
  -1,401
  -1,461
  -1,525
  -1,593
  -1,665
  -1,740
  -1,820
  -1,905
  -1,994
  -2,088
  -2,186
  -2,291
  -2,400
  -2,515
  -2,637
  -2,765
New CAPEX, $m
  -184
  -207
  -237
  -266
  -295
  -323
  -352
  -381
  -411
  -441
  -472
  -503
  -536
  -569
  -604
  -640
  -678
  -717
  -757
  -800
  -844
  -890
  -938
  -988
  -1,041
  -1,096
  -1,154
  -1,214
  -1,277
  -1,343
Cash from investing activities, $m
  -1,067
  -1,108
  -1,159
  -1,212
  -1,267
  -1,325
  -1,386
  -1,451
  -1,519
  -1,590
  -1,665
  -1,743
  -1,826
  -1,913
  -2,005
  -2,101
  -2,203
  -2,310
  -2,422
  -2,540
  -2,664
  -2,795
  -2,932
  -3,076
  -3,227
  -3,387
  -3,554
  -3,729
  -3,914
  -4,108
Free cash flow, $m
  2,197
  2,263
  2,295
  2,335
  2,381
  2,434
  2,493
  2,558
  2,630
  2,708
  2,750
  2,842
  2,940
  3,044
  3,156
  3,275
  3,402
  3,536
  3,679
  3,830
  3,989
  4,158
  4,336
  4,523
  4,721
  4,930
  5,150
  5,382
  5,626
  5,882
Issuance/(repayment) of debt, $m
  -612
  320
  366
  411
  455
  499
  544
  588
  634
  680
  728
  777
  827
  879
  932
  988
  1,046
  1,106
  1,169
  1,234
  1,302
  1,373
  1,447
  1,525
  1,606
  1,691
  1,780
  1,873
  1,971
  2,073
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  
  -612
  320
  366
  411
  455
  499
  544
  588
  634
  680
  728
  777
  827
  879
  932
  988
  1,046
  1,106
  1,169
  1,234
  1,302
  1,373
  1,447
  1,525
  1,606
  1,691
  1,780
  1,873
  1,971
  2,073
Total cash flow (excl. dividends), $m
  1,585
  2,583
  2,661
  2,745
  2,836
  2,933
  3,036
  3,147
  3,264
  3,389
  3,478
  3,618
  3,766
  3,923
  4,089
  4,264
  4,448
  4,643
  4,848
  5,064
  5,291
  5,531
  5,783
  6,048
  6,328
  6,621
  6,930
  7,255
  7,596
  7,955
Retained Cash Flow (-), $m
  -917
  -36
  -41
  -46
  -51
  -55
  -60
  -65
  -70
  -76
  -81
  -86
  -92
  -98
  -104
  -110
  -116
  -123
  -130
  -137
  -145
  -153
  -161
  -169
  -178
  -188
  -198
  -208
  -219
  -230
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
  73
  74
  76
  78
  80
  83
  85
  88
  92
  95
  99
  102
  107
  111
  116
  121
  126
  132
  138
  144
  150
  157
  165
  173
  181
  189
  198
  208
  218
  228
Cash available for distribution, $m
  669
  2,548
  2,621
  2,700
  2,785
  2,877
  2,976
  3,081
  3,193
  3,313
  3,397
  3,532
  3,675
  3,826
  3,985
  4,154
  4,332
  4,520
  4,718
  4,927
  5,147
  5,378
  5,622
  5,879
  6,149
  6,433
  6,732
  7,047
  7,377
  7,725
Discount rate, %
  8.50
  8.93
  9.37
  9.84
  10.33
  10.85
  11.39
  11.96
  12.56
  13.19
  13.85
  14.54
  15.26
  16.03
  16.83
  17.67
  18.55
  19.48
  20.46
  21.48
  22.55
  23.68
  24.86
  26.11
  27.41
  28.78
  30.22
  31.73
  33.32
  34.99
PV of cash for distribution, $m
  616
  2,147
  2,003
  1,855
  1,704
  1,551
  1,399
  1,248
  1,101
  960
  816
  693
  580
  477
  387
  307
  240
  184
  137
  101
  72
  50
  34
  22
  14
  9
  5
  3
  2
  1
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

Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company's segments include Personal Care, Consumer Tissue, K-C Professional and Corporate & Other. The Company's Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products. The Company's Consumer Tissue segment offers products, such as facial and bathroom tissue, paper towels, napkins and related products. The Company's K-C Professional segment offers solutions and supporting products, such as wipers, tissue, towels, apparel, soaps and sanitizers. The Company's business outside North America includes Developing and Emerging Markets (D&E) and Developed Markets. It sells its products to supermarkets, mass merchandisers, drugstores, warehouse clubs and other retail outlets.

FINANCIAL RATIOS  of  Kimberly-Clark (KMB)

Valuation Ratios
P/E Ratio 18.3
Price to Sales 2.2
Price to Book -388.5
Price to Tangible Book
Price to Cash Flow 12.3
Price to Free Cash Flow 16.1
Growth Rates
Sales Growth Rate -2.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -27%
Cap. Spend. - 3 Yr. Gr. Rate -4.1%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity -6369.6%
Total Debt to Equity -7480.4%
Interest Coverage 11
Management Effectiveness
Return On Assets 16.2%
Ret/ On Assets - 3 Yr. Avg. 11.4%
Return On Total Capital 28.5%
Ret/ On T. Cap. - 3 Yr. Avg. 19.3%
Return On Equity -1569.6%
Return On Equity - 3 Yr. Avg. -383.3%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 36.5%
Gross Margin - 3 Yr. Avg. 35.4%
EBITDA Margin 22.1%
EBITDA Margin - 3 Yr. Avg. 17.4%
Operating Margin 18.2%
Oper. Margin - 3 Yr. Avg. 13.2%
Pre-Tax Margin 16.5%
Pre-Tax Margin - 3 Yr. Avg. 11.7%
Net Profit Margin 11.9%
Net Profit Margin - 3 Yr. Avg. 8.4%
Effective Tax Rate 30.6%
Eff/ Tax Rate - 3 Yr. Avg. 33.3%
Payout Ratio 60.5%

KMB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KMB stock intrinsic value calculation we used $18259 million for the last fiscal year's total revenue generated by Kimberly-Clark. The default revenue input number comes from 2017 income statement of Kimberly-Clark. 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 KMB stock valuation model: a) initial revenue growth rate of 2% 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 8.5%, whose default value for KMB is calculated based on our internal credit rating of Kimberly-Clark, 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 Kimberly-Clark.
    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 KMB stock the variable cost ratio is equal to 81.8%.

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 KMB 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 Kimberly-Clark.

Corporate tax rate of 27% is the nominal tax rate for Kimberly-Clark. 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 KMB stock is equal to 0.4%.

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 KMB are equal to 48.4%.

Life of production assets of 10 years is the average useful life of capital assets used in Kimberly-Clark 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 KMB is equal to -5.7%. 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 - $629 million for Kimberly-Clark - 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 352 million for Kimberly-Clark 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 Kimberly-Clark at the current share price and the inputted number of shares is $39.1 billion.

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COMPANY NEWS

▶ Cramer on the global stock sell-off   [06:36PM  CNBC Videos]
▶ Wisconsin GOP leader: Not enough votes for paper plants bill   [Aug-06-18 06:08PM  Associated Press]
▶ 3 Things Kimberly Clark Wants You to Know   [Aug-04-18 10:15AM  Motley Fool]
▶ Kimberly-Clark Declares Quarterly Dividend   [Aug-01-18 04:05PM  PR Newswire]
▶ Procter & Gamble Earnings: 3 Things to Watch   [Jul-28-18 03:32PM  Motley Fool]
▶ Wisconsin Republican balks at plan to help Kimberly-Clark   [Jul-25-18 03:39PM  Associated Press]
▶ [$$] Kimberly-Clark Faces a Messy Situation   [Jul-24-18 08:06PM  The Wall Street Journal]
▶ [$$] Kimberly-Clark Faces a Messy Situation   [11:35AM  The Wall Street Journal]
▶ Kimberly-Clark: 2Q Earnings Snapshot   [07:39AM  Associated Press]
▶ Kimberly-Clark Earnings: What to Watch   [Jul-22-18 08:49AM  Motley Fool]
▶ [$$] Kimberly-Clark Exploring Sale of European Tissues Business   [Jul-19-18 05:54PM  The Wall Street Journal]
▶ Why Kimberly Clark Stock Has Lost 13% So Far in 2018   [Jul-11-18 09:24AM  Motley Fool]
▶ 5 Dividend Aristocrat ETFs for a Growing Retirement Income   [Jul-06-18 09:05AM  InvestorPlace]
▶ [$$] P&Gs Challenge: Selling a Product that Women Wish They Didnt Need   [Jun-26-18 08:41PM  The Wall Street Journal]
▶ Four Cheap 'Dividend Aristocrats' to Buy Now   [Jun-24-18 09:00AM  TheStreet.com]
▶ Is It Too Late To Buy Kimberly-Clark Corporation (NYSE:KMB)?   [Jun-22-18 10:04AM  Simply Wall St.]
▶ 10 Consumer Stocks on the Clearance Rack   [Jun-18-18 03:06PM  InvestorPlace]
▶ 10 Dividend Aristocrats You Never Have to Worry About   [Jun-13-18 11:58AM  InvestorPlace]
▶ For Now Its Best to Avoid Colgate-Palmolive Company Stock   [May-30-18 11:14PM  InvestorPlace]
▶ 7 Stocks to Beat the Market's Wild Swings   [08:00AM  Investopedia]
▶ Kimberly-Clark Announces Executive Leadership Changes   [May-11-18 04:05PM  PR Newswire]
▶ Kimberly-Clark Declares Quarterly Dividend   [May-10-18 04:10PM  PR Newswire]
▶ Amazon Effect Stings Consumer-Staples Stocks as Pricing Woes Mount   [Apr-25-18 07:15PM  The Wall Street Journal]
▶ [$$] The 'Amazon Effect' Stings Consumer-Staples Stocks   [05:30AM  The Wall Street Journal]
▶ Cramer: Kimberly-Clark Falling Back in China   [Apr-23-18 07:01PM  TheStreet.com]
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