Intrinsic value of Kennedy-Wilson Holdings - KW

Previous Close

$18.80

  Intrinsic Value

$2.37

stock screener

  Rating & Target

str. sell

-87%

Previous close

$18.80

 
Intrinsic value

$2.37

 
Up/down potential

-87%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as KW.

We calculate the intrinsic value of KW 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 2.7

 

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, %
  21.00
  19.40
  17.96
  16.66
  15.50
  14.45
  13.50
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  7.96
  7.67
  7.40
  7.16
  6.95
  6.75
  6.58
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
Revenue, $m
  981
  1,171
  1,381
  1,612
  1,861
  2,130
  2,418
  2,724
  3,048
  3,389
  3,748
  4,123
  4,516
  4,925
  5,352
  5,795
  6,257
  6,737
  7,235
  7,754
  8,292
  8,852
  9,434
  10,039
  10,670
  11,326
  12,009
  12,721
  13,464
  14,238
Variable operating expenses, $m
  720
  860
  1,014
  1,183
  1,366
  1,564
  1,775
  1,999
  2,237
  2,488
  2,751
  3,026
  3,314
  3,615
  3,928
  4,254
  4,593
  4,945
  5,311
  5,691
  6,086
  6,497
  6,925
  7,369
  7,831
  8,313
  8,815
  9,337
  9,882
  10,451
Fixed operating expenses, $m
  184
  188
  192
  196
  201
  205
  210
  214
  219
  224
  229
  234
  239
  244
  249
  255
  261
  266
  272
  278
  284
  291
  297
  303
  310
  317
  324
  331
  338
  346
Total operating expenses, $m
  904
  1,048
  1,206
  1,379
  1,567
  1,769
  1,985
  2,213
  2,456
  2,712
  2,980
  3,260
  3,553
  3,859
  4,177
  4,509
  4,854
  5,211
  5,583
  5,969
  6,370
  6,788
  7,222
  7,672
  8,141
  8,630
  9,139
  9,668
  10,220
  10,797
Operating income, $m
  77
  124
  175
  232
  294
  362
  434
  510
  592
  678
  768
  863
  962
  1,066
  1,174
  1,287
  1,404
  1,526
  1,652
  1,784
  1,921
  2,064
  2,213
  2,367
  2,528
  2,696
  2,870
  3,053
  3,243
  3,442
EBITDA, $m
  334
  431
  538
  655
  783
  921
  1,068
  1,225
  1,391
  1,567
  1,752
  1,945
  2,147
  2,358
  2,578
  2,807
  3,046
  3,293
  3,551
  3,819
  4,097
  4,387
  4,688
  5,001
  5,328
  5,667
  6,022
  6,391
  6,776
  7,178
Interest expense (income), $m
  171
  306
  376
  457
  545
  643
  748
  862
  983
  1,112
  1,249
  1,393
  1,544
  1,703
  1,868
  2,041
  2,221
  2,409
  2,603
  2,806
  3,016
  3,235
  3,462
  3,699
  3,944
  4,200
  4,466
  4,743
  5,031
  5,332
  5,645
Earnings before tax, $m
  -229
  -253
  -281
  -313
  -348
  -386
  -428
  -473
  -520
  -571
  -625
  -681
  -740
  -802
  -867
  -935
  -1,005
  -1,078
  -1,153
  -1,232
  -1,314
  -1,398
  -1,486
  -1,577
  -1,672
  -1,770
  -1,872
  -1,978
  -2,089
  -2,204
Tax expense, $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
Net income, $m
  -229
  -253
  -281
  -313
  -348
  -386
  -428
  -473
  -520
  -571
  -625
  -681
  -740
  -802
  -867
  -935
  -1,005
  -1,078
  -1,153
  -1,232
  -1,314
  -1,398
  -1,486
  -1,577
  -1,672
  -1,770
  -1,872
  -1,978
  -2,089
  -2,204

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
  8,998
  10,744
  12,674
  14,786
  17,077
  19,544
  22,183
  24,990
  27,961
  31,092
  34,381
  37,827
  41,428
  45,184
  49,097
  53,169
  57,404
  61,806
  66,380
  71,134
  76,075
  81,210
  86,550
  92,105
  97,886
  103,904
  110,174
  116,707
  123,520
  130,627
Adjusted assets (=assets-cash), $m
  8,998
  10,744
  12,674
  14,786
  17,077
  19,544
  22,183
  24,990
  27,961
  31,092
  34,381
  37,827
  41,428
  45,184
  49,097
  53,169
  57,404
  61,806
  66,380
  71,134
  76,075
  81,210
  86,550
  92,105
  97,886
  103,904
  110,174
  116,707
  123,520
  130,627
Revenue / Adjusted assets
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
  0.109
Average production assets, $m
  7,412
  8,850
  10,440
  12,179
  14,067
  16,099
  18,273
  20,585
  23,032
  25,611
  28,320
  31,158
  34,124
  37,218
  40,442
  43,796
  47,284
  50,910
  54,678
  58,594
  62,664
  66,894
  71,292
  75,868
  80,630
  85,587
  90,752
  96,133
  101,745
  107,599
Working capital, $m
  -43
  -52
  -61
  -71
  -82
  -94
  -106
  -120
  -134
  -149
  -165
  -181
  -199
  -217
  -235
  -255
  -275
  -296
  -318
  -341
  -365
  -389
  -415
  -442
  -469
  -498
  -528
  -560
  -592
  -626
Total debt, $m
  6,969
  8,457
  10,101
  11,900
  13,852
  15,955
  18,203
  20,594
  23,125
  25,793
  28,596
  31,531
  34,599
  37,799
  41,133
  44,603
  48,211
  51,961
  55,859
  59,909
  64,118
  68,494
  73,043
  77,776
  82,701
  87,829
  93,171
  98,737
  104,542
  110,597
Total liabilities, $m
  7,667
  9,154
  10,798
  12,597
  14,550
  16,652
  18,900
  21,292
  23,823
  26,491
  29,293
  32,228
  35,296
  38,497
  41,830
  45,300
  48,908
  52,659
  56,556
  60,606
  64,815
  69,191
  73,741
  78,473
  83,399
  88,527
  93,868
  99,435
  105,239
  111,294
Total equity, $m
  1,332
  1,590
  1,876
  2,188
  2,527
  2,893
  3,283
  3,699
  4,138
  4,602
  5,088
  5,598
  6,131
  6,687
  7,266
  7,869
  8,496
  9,147
  9,824
  10,528
  11,259
  12,019
  12,809
  13,632
  14,487
  15,378
  16,306
  17,273
  18,281
  19,333
Total liabilities and equity, $m
  8,999
  10,744
  12,674
  14,785
  17,077
  19,545
  22,183
  24,991
  27,961
  31,093
  34,381
  37,826
  41,427
  45,184
  49,096
  53,169
  57,404
  61,806
  66,380
  71,134
  76,074
  81,210
  86,550
  92,105
  97,886
  103,905
  110,174
  116,708
  123,520
  130,627
Debt-to-equity ratio
  5.230
  5.320
  5.390
  5.440
  5.480
  5.520
  5.540
  5.570
  5.590
  5.610
  5.620
  5.630
  5.640
  5.650
  5.660
  5.670
  5.670
  5.680
  5.690
  5.690
  5.690
  5.700
  5.700
  5.710
  5.710
  5.710
  5.710
  5.720
  5.720
  5.720
Adjusted equity ratio
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148
  0.148

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -229
  -253
  -281
  -313
  -348
  -386
  -428
  -473
  -520
  -571
  -625
  -681
  -740
  -802
  -867
  -935
  -1,005
  -1,078
  -1,153
  -1,232
  -1,314
  -1,398
  -1,486
  -1,577
  -1,672
  -1,770
  -1,872
  -1,978
  -2,089
  -2,204
Depreciation, amort., depletion, $m
  257
  307
  362
  423
  488
  559
  634
  715
  800
  889
  983
  1,082
  1,185
  1,292
  1,404
  1,521
  1,642
  1,768
  1,899
  2,035
  2,176
  2,323
  2,475
  2,634
  2,800
  2,972
  3,151
  3,338
  3,533
  3,736
Funds from operations, $m
  29
  54
  81
  110
  140
  173
  206
  242
  279
  318
  359
  401
  444
  490
  537
  586
  637
  690
  745
  802
  862
  924
  989
  1,057
  1,128
  1,202
  1,279
  1,360
  1,444
  1,532
Change in working capital, $m
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -31
  -33
  -34
Cash from operations, $m
  36
  63
  90
  120
  151
  184
  219
  256
  294
  333
  374
  417
  462
  508
  556
  606
  657
  711
  767
  825
  886
  949
  1,015
  1,084
  1,155
  1,230
  1,309
  1,391
  1,477
  1,567
Maintenance CAPEX, $m
  -213
  -257
  -307
  -362
  -423
  -488
  -559
  -634
  -715
  -800
  -889
  -983
  -1,082
  -1,185
  -1,292
  -1,404
  -1,521
  -1,642
  -1,768
  -1,899
  -2,035
  -2,176
  -2,323
  -2,475
  -2,634
  -2,800
  -2,972
  -3,151
  -3,338
  -3,533
New CAPEX, $m
  -1,283
  -1,438
  -1,589
  -1,740
  -1,887
  -2,032
  -2,174
  -2,312
  -2,447
  -2,579
  -2,709
  -2,838
  -2,966
  -3,094
  -3,223
  -3,354
  -3,488
  -3,626
  -3,768
  -3,916
  -4,069
  -4,230
  -4,399
  -4,576
  -4,762
  -4,958
  -5,164
  -5,382
  -5,612
  -5,854
Cash from investing activities, $m
  -1,496
  -1,695
  -1,896
  -2,102
  -2,310
  -2,520
  -2,733
  -2,946
  -3,162
  -3,379
  -3,598
  -3,821
  -4,048
  -4,279
  -4,515
  -4,758
  -5,009
  -5,268
  -5,536
  -5,815
  -6,104
  -6,406
  -6,722
  -7,051
  -7,396
  -7,758
  -8,136
  -8,533
  -8,950
  -9,387
Free cash flow, $m
  -1,460
  -1,632
  -1,806
  -1,982
  -2,159
  -2,336
  -2,514
  -2,691
  -2,868
  -3,046
  -3,224
  -3,404
  -3,586
  -3,771
  -3,960
  -4,153
  -4,352
  -4,557
  -4,769
  -4,989
  -5,218
  -5,457
  -5,706
  -5,967
  -6,241
  -6,527
  -6,827
  -7,142
  -7,473
  -7,820
Issuance/(repayment) of debt, $m
  1,307
  1,487
  1,644
  1,799
  1,952
  2,102
  2,249
  2,391
  2,531
  2,668
  2,802
  2,935
  3,068
  3,200
  3,334
  3,470
  3,608
  3,750
  3,898
  4,050
  4,209
  4,376
  4,550
  4,733
  4,925
  5,128
  5,341
  5,567
  5,804
  6,055
Issuance/(repurchase) of shares, $m
  459
  511
  567
  626
  687
  752
  819
  888
  960
  1,034
  1,111
  1,191
  1,273
  1,358
  1,446
  1,537
  1,632
  1,729
  1,830
  1,936
  2,045
  2,158
  2,276
  2,399
  2,527
  2,661
  2,800
  2,945
  3,097
  3,255
Cash from financing (excl. dividends), $m  
  1,766
  1,998
  2,211
  2,425
  2,639
  2,854
  3,068
  3,279
  3,491
  3,702
  3,913
  4,126
  4,341
  4,558
  4,780
  5,007
  5,240
  5,479
  5,728
  5,986
  6,254
  6,534
  6,826
  7,132
  7,452
  7,789
  8,141
  8,512
  8,901
  9,310
Total cash flow (excl. dividends), $m
  306
  366
  405
  443
  480
  517
  553
  589
  623
  657
  690
  722
  755
  788
  821
  854
  888
  923
  959
  997
  1,036
  1,077
  1,120
  1,165
  1,212
  1,262
  1,315
  1,370
  1,429
  1,490
Retained Cash Flow (-), $m
  -459
  -511
  -567
  -626
  -687
  -752
  -819
  -888
  -960
  -1,034
  -1,111
  -1,191
  -1,273
  -1,358
  -1,446
  -1,537
  -1,632
  -1,729
  -1,830
  -1,936
  -2,045
  -2,158
  -2,276
  -2,399
  -2,527
  -2,661
  -2,800
  -2,945
  -3,097
  -3,255
Prev. year cash balance distribution, $m
  265
  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
  112
  -145
  -162
  -183
  -207
  -234
  -265
  -299
  -337
  -378
  -422
  -469
  -518
  -571
  -626
  -683
  -744
  -806
  -871
  -939
  -1,009
  -1,082
  -1,157
  -1,235
  -1,315
  -1,399
  -1,486
  -1,575
  -1,669
  -1,765
Discount rate, %
  12.40
  13.02
  13.67
  14.35
  15.07
  15.83
  16.62
  17.45
  18.32
  19.24
  20.20
  21.21
  22.27
  23.38
  24.55
  25.78
  27.07
  28.42
  29.84
  31.33
  32.90
  34.55
  36.27
  38.09
  39.99
  41.99
  44.09
  46.29
  48.61
  51.04
PV of cash for distribution, $m
  100
  -114
  -111
  -107
  -103
  -97
  -90
  -83
  -74
  -65
  -56
  -47
  -38
  -30
  -23
  -17
  -13
  -9
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  82.6
  69.2
  58.7
  50.3
  43.4
  37.7
  33.0
  29.1
  25.7
  22.8
  20.4
  18.2
  16.3
  14.7
  13.3
  12.0
  10.8
  9.8
  8.9
  8.1
  7.4
  6.8
  6.2
  5.6
  5.2
  4.7
  4.3
  4.0
  3.6
  3.3

Kennedy-Wilson Holdings, Inc. is a real estate investment company. The Company owns, operates, and invests in real estate both on its own and through its investment management platform. The Company focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy and Japan. The Company's segments include KW Investments, and KW Investment Management and Real Estate Services (IMRES). KW Investments invests in multifamily, residential and commercial properties, as well as loans secured by real estate. IMRES provides real estate-related services to investors and lenders, with a focus on financial institution-based clients. As of December 31, 2016, the Company had an ownership interest in approximately 39 million square feet of property globally, including 25,943 multifamily rental units.

FINANCIAL RATIOS  of  Kennedy-Wilson Holdings (KW)

Valuation Ratios
P/E Ratio 362.7
Price to Sales 3.1
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 21.1
Price to Free Cash Flow -2.6
Growth Rates
Sales Growth Rate 16.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -50.7%
Cap. Spend. - 3 Yr. Gr. Rate 41.2%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 466.9%
Total Debt to Equity 466.9%
Interest Coverage 2
Management Effectiveness
Return On Assets 2%
Ret/ On Assets - 3 Yr. Avg. 2.1%
Return On Total Capital 0.1%
Ret/ On T. Cap. - 3 Yr. Avg. 0.8%
Return On Equity 0.5%
Return On Equity - 3 Yr. Avg. 3.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 96.9%
Gross Margin - 3 Yr. Avg. 97%
EBITDA Margin 65.4%
EBITDA Margin - 3 Yr. Avg. 71.9%
Operating Margin 20.5%
Oper. Margin - 3 Yr. Avg. 36.2%
Pre-Tax Margin 12.9%
Pre-Tax Margin - 3 Yr. Avg. 20.8%
Net Profit Margin 0.9%
Net Profit Margin - 3 Yr. Avg. 6.3%
Effective Tax Rate 15.4%
Eff/ Tax Rate - 3 Yr. Avg. 29.8%
Payout Ratio 1083.3%

KW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KW stock intrinsic value calculation we used $810.6 million for the last fiscal year's total revenue generated by Kennedy-Wilson Holdings. The default revenue input number comes from 0001 income statement of Kennedy-Wilson Holdings. 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 KW stock valuation model: a) initial revenue growth rate of 21% 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 12.4%, whose default value for KW is calculated based on our internal credit rating of Kennedy-Wilson Holdings, 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 Kennedy-Wilson Holdings.
    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 KW stock the variable cost ratio is equal to 73.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $180 million in the base year in the intrinsic value calculation for KW 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 Kennedy-Wilson Holdings.

Corporate tax rate of 27% is the nominal tax rate for Kennedy-Wilson Holdings. 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 KW 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 KW are equal to 755.7%.

Life of production assets of 28.8 years is the average useful life of capital assets used in Kennedy-Wilson Holdings 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 KW is equal to -4.4%. 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 - $1365.6 million for Kennedy-Wilson Holdings - 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 144.205 million for Kennedy-Wilson Holdings 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 Kennedy-Wilson Holdings at the current share price and the inputted number of shares is $2.7 billion.

RELATED COMPANIES Price Int.Val. Rating
LM Legg Mason 28.27 120.17  str.buy
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RMR RMR Group Cl A 68.79 193.67  str.buy

COMPANY NEWS

▶ Kennedy-Wilson: 3Q Earnings Snapshot   [Oct-31-18 06:25PM  Associated Press]
▶ Kennedy Wilson aims to reopen renewed Kona Village Resort in 2021   [Oct-19-18 08:45PM  American City Business Journals]
▶ Kennedy Wilson to Announce Third Quarter 2018 Earnings   [Oct-01-18 06:15AM  Business Wire]
▶ MOVES-Kennedy-Wilson names new president   [Aug-14-18 11:22AM  Reuters]
▶ Kennedy-Wilson: 2Q Earnings Snapshot   [Aug-01-18 07:51PM  Associated Press]
▶ Sacramento Commons owners file for building permits   [Jul-10-18 10:06AM  American City Business Journals]
▶ Kennedy Wilson to Announce Second Quarter 2018 Earnings   [Jul-06-18 06:00AM  Business Wire]
▶ What a $148.7 million multifamily sale says about Sacramento's housing market   [Jun-22-18 09:58AM  American City Business Journals]
▶ Kennedy Wilson Sells $422 Million Multifamily Portfolio   [May-29-18 06:00AM  Business Wire]
▶ Kennedy-Wilson: 1Q Earnings Snapshot   [May-02-18 07:12PM  Associated Press]
▶ Kennedy Wilson to Announce First Quarter 2018 Earnings   [Apr-06-18 06:00AM  Business Wire]
▶ Kennedy-Wilson Holdings, Inc. to Host Earnings Call   [Feb-23-18 07:30AM  ACCESSWIRE]
▶ George Soros Bets Big on Caesars in 4th Quarter   [Feb-20-18 12:39PM  GuruFocus.com]
▶ Prem Watsas $500 Million Bet On BlackBerry (BB) Stock   [Dec-19-17 02:50PM  InvestorPlace]
▶ Kennedy-Wilson reports 3Q loss   [Nov-06-17 05:37AM  Associated Press]
▶ Kennedy Wilson Reports Third Quarter 2017 Results   [Nov-02-17 04:15PM  Business Wire]

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