Intrinsic value of Littelfuse - LFUS

Previous Close

$197.72

  Intrinsic Value

$130.79

stock screener

  Rating & Target

sell

-34%

Previous close

$197.72

 
Intrinsic value

$130.79

 
Up/down potential

-34%

 
Rating

sell

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

We calculate the intrinsic value of LFUS 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 4.5

 

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, %
  21.66
  15.10
  14.09
  13.18
  12.36
  11.63
  10.96
  10.37
  9.83
  9.35
  8.91
  8.52
  8.17
  7.85
  7.57
  7.31
  7.08
  6.87
  6.68
  6.52
  6.36
  6.23
  6.11
  5.99
  5.90
  5.81
  5.73
  5.65
  5.59
  5.53
  5.48
Revenue, $m
  1,056
  1,215
  1,387
  1,569
  1,764
  1,969
  2,184
  2,411
  2,648
  2,895
  3,153
  3,422
  3,702
  3,992
  4,295
  4,609
  4,935
  5,274
  5,626
  5,993
  6,374
  6,771
  7,185
  7,616
  8,064
  8,533
  9,021
  9,531
  10,064
  10,620
  11,202
Variable operating expenses, $m
 
  1,042
  1,183
  1,333
  1,493
  1,662
  1,840
  2,026
  2,222
  2,425
  2,638
  2,819
  3,049
  3,289
  3,538
  3,796
  4,065
  4,344
  4,635
  4,937
  5,251
  5,578
  5,918
  6,273
  6,643
  7,029
  7,431
  7,851
  8,290
  8,748
  9,227
Fixed operating expenses, $m
 
  16
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
  22
  22
  23
  23
  24
  24
  25
  26
  26
  27
  28
  28
  29
  30
  30
  31
  32
  33
  34
Total operating expenses, $m
  926
  1,058
  1,200
  1,350
  1,511
  1,680
  1,859
  2,045
  2,241
  2,445
  2,658
  2,840
  3,071
  3,311
  3,561
  3,819
  4,089
  4,368
  4,660
  4,963
  5,277
  5,605
  5,946
  6,301
  6,672
  7,059
  7,461
  7,882
  8,322
  8,781
  9,261
Operating income, $m
  131
  157
  187
  219
  253
  288
  326
  366
  407
  450
  495
  582
  631
  682
  734
  789
  846
  905
  967
  1,031
  1,097
  1,167
  1,239
  1,314
  1,392
  1,474
  1,560
  1,649
  1,742
  1,839
  1,941
EBITDA, $m
  184
  230
  265
  301
  340
  382
  425
  470
  518
  568
  620
  674
  730
  789
  849
  913
  978
  1,046
  1,117
  1,191
  1,268
  1,348
  1,431
  1,518
  1,608
  1,703
  1,801
  1,904
  2,011
  2,123
  2,241
Interest expense (income), $m
  0
  16
  19
  23
  27
  31
  36
  41
  46
  51
  57
  62
  68
  74
  81
  88
  95
  102
  109
  117
  125
  134
  143
  152
  161
  171
  182
  193
  204
  216
  228
Earnings before tax, $m
  123
  142
  168
  196
  226
  257
  290
  325
  361
  399
  438
  520
  563
  607
  653
  701
  751
  803
  857
  913
  972
  1,033
  1,096
  1,162
  1,231
  1,303
  1,378
  1,456
  1,538
  1,623
  1,713
Tax expense, $m
  19
  38
  45
  53
  61
  69
  78
  88
  97
  108
  118
  140
  152
  164
  176
  189
  203
  217
  231
  247
  262
  279
  296
  314
  332
  352
  372
  393
  415
  438
  462
Net income, $m
  104
  103
  123
  143
  165
  188
  212
  237
  264
  291
  320
  380
  411
  443
  477
  512
  549
  586
  626
  667
  710
  754
  800
  848
  899
  951
  1,006
  1,063
  1,123
  1,185
  1,250

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  279
  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
  1,491
  1,395
  1,592
  1,802
  2,025
  2,260
  2,508
  2,768
  3,040
  3,324
  3,621
  3,929
  4,250
  4,584
  4,931
  5,291
  5,666
  6,055
  6,460
  6,881
  7,319
  7,774
  8,249
  8,743
  9,259
  9,796
  10,357
  10,943
  11,554
  12,193
  12,861
Adjusted assets (=assets-cash), $m
  1,212
  1,395
  1,592
  1,802
  2,025
  2,260
  2,508
  2,768
  3,040
  3,324
  3,621
  3,929
  4,250
  4,584
  4,931
  5,291
  5,666
  6,055
  6,460
  6,881
  7,319
  7,774
  8,249
  8,743
  9,259
  9,796
  10,357
  10,943
  11,554
  12,193
  12,861
Revenue / Adjusted assets
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
  0.871
Average production assets, $m
  343
  394
  449
  509
  571
  638
  708
  781
  858
  938
  1,022
  1,109
  1,199
  1,294
  1,391
  1,493
  1,599
  1,709
  1,823
  1,942
  2,065
  2,194
  2,328
  2,467
  2,613
  2,765
  2,923
  3,088
  3,261
  3,441
  3,629
Working capital, $m
  424
  174
  198
  224
  252
  282
  312
  345
  379
  414
  451
  489
  529
  571
  614
  659
  706
  754
  805
  857
  912
  968
  1,027
  1,089
  1,153
  1,220
  1,290
  1,363
  1,439
  1,519
  1,602
Total debt, $m
  454
  550
  658
  774
  898
  1,028
  1,165
  1,309
  1,459
  1,616
  1,780
  1,951
  2,128
  2,313
  2,505
  2,704
  2,911
  3,126
  3,350
  3,583
  3,825
  4,077
  4,340
  4,613
  4,898
  5,195
  5,506
  5,829
  6,167
  6,521
  6,890
Total liabilities, $m
  676
  772
  880
  996
  1,120
  1,250
  1,387
  1,531
  1,681
  1,838
  2,002
  2,173
  2,350
  2,535
  2,727
  2,926
  3,133
  3,348
  3,572
  3,805
  4,047
  4,299
  4,562
  4,835
  5,120
  5,417
  5,728
  6,051
  6,389
  6,743
  7,112
Total equity, $m
  815
  624
  712
  805
  905
  1,010
  1,121
  1,237
  1,359
  1,486
  1,618
  1,756
  1,900
  2,049
  2,204
  2,365
  2,533
  2,707
  2,887
  3,076
  3,271
  3,475
  3,687
  3,908
  4,139
  4,379
  4,630
  4,891
  5,165
  5,450
  5,749
Total liabilities and equity, $m
  1,491
  1,396
  1,592
  1,801
  2,025
  2,260
  2,508
  2,768
  3,040
  3,324
  3,620
  3,929
  4,250
  4,584
  4,931
  5,291
  5,666
  6,055
  6,459
  6,881
  7,318
  7,774
  8,249
  8,743
  9,259
  9,796
  10,358
  10,942
  11,554
  12,193
  12,861
Debt-to-equity ratio
  0.557
  0.880
  0.930
  0.960
  0.990
  1.020
  1.040
  1.060
  1.070
  1.090
  1.100
  1.110
  1.120
  1.130
  1.140
  1.140
  1.150
  1.160
  1.160
  1.160
  1.170
  1.170
  1.180
  1.180
  1.180
  1.190
  1.190
  1.190
  1.190
  1.200
  1.200
Adjusted equity ratio
  0.442
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447
  0.447

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  104
  103
  123
  143
  165
  188
  212
  237
  264
  291
  320
  380
  411
  443
  477
  512
  549
  586
  626
  667
  710
  754
  800
  848
  899
  951
  1,006
  1,063
  1,123
  1,185
  1,250
Depreciation, amort., depletion, $m
  53
  73
  78
  82
  88
  93
  99
  105
  111
  118
  125
  92
  99
  107
  115
  123
  132
  141
  151
  160
  171
  181
  192
  204
  216
  228
  242
  255
  269
  284
  300
Funds from operations, $m
  173
  176
  200
  225
  252
  281
  311
  342
  375
  409
  445
  471
  510
  550
  592
  635
  681
  728
  777
  827
  880
  935
  993
  1,052
  1,115
  1,180
  1,247
  1,318
  1,392
  1,469
  1,550
Change in working capital, $m
  -7
  23
  24
  26
  28
  29
  31
  32
  34
  35
  37
  38
  40
  42
  43
  45
  47
  48
  50
  52
  55
  57
  59
  62
  64
  67
  70
  73
  76
  80
  83
Cash from operations, $m
  180
  154
  176
  199
  225
  251
  280
  310
  341
  374
  408
  433
  470
  509
  549
  591
  634
  679
  726
  775
  826
  878
  933
  991
  1,050
  1,113
  1,178
  1,245
  1,316
  1,390
  1,467
Maintenance CAPEX, $m
  0
  -28
  -33
  -37
  -42
  -47
  -53
  -58
  -65
  -71
  -78
  -84
  -92
  -99
  -107
  -115
  -123
  -132
  -141
  -151
  -160
  -171
  -181
  -192
  -204
  -216
  -228
  -242
  -255
  -269
  -284
New CAPEX, $m
  -46
  -51
  -55
  -59
  -63
  -66
  -70
  -73
  -77
  -80
  -84
  -87
  -91
  -94
  -98
  -102
  -106
  -110
  -114
  -119
  -124
  -129
  -134
  -140
  -145
  -152
  -158
  -165
  -173
  -180
  -188
Cash from investing activities, $m
  -511
  -79
  -88
  -96
  -105
  -113
  -123
  -131
  -142
  -151
  -162
  -171
  -183
  -193
  -205
  -217
  -229
  -242
  -255
  -270
  -284
  -300
  -315
  -332
  -349
  -368
  -386
  -407
  -428
  -449
  -472
Free cash flow, $m
  -331
  74
  88
  103
  120
  138
  157
  178
  200
  223
  247
  261
  288
  315
  344
  374
  405
  437
  471
  505
  542
  579
  618
  659
  701
  745
  791
  838
  888
  940
  994
Issuance/(repayment) of debt, $m
  292
  102
  109
  116
  123
  130
  137
  144
  150
  157
  164
  171
  178
  185
  192
  199
  207
  215
  224
  233
  242
  252
  262
  273
  285
  297
  310
  324
  338
  353
  369
Issuance/(repurchase) of shares, $m
  20
  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  
  312
  102
  109
  116
  123
  130
  137
  144
  150
  157
  164
  171
  178
  185
  192
  199
  207
  215
  224
  233
  242
  252
  262
  273
  285
  297
  310
  324
  338
  353
  369
Total cash flow (excl. dividends), $m
  -26
  176
  196
  219
  243
  268
  294
  322
  350
  380
  411
  432
  465
  500
  536
  573
  612
  652
  694
  738
  784
  831
  881
  932
  986
  1,042
  1,101
  1,162
  1,226
  1,293
  1,363
Retained Cash Flow (-), $m
  -76
  -82
  -88
  -94
  -100
  -105
  -111
  -116
  -122
  -127
  -132
  -138
  -143
  -149
  -155
  -161
  -167
  -174
  -181
  -188
  -196
  -204
  -212
  -221
  -230
  -240
  -251
  -262
  -273
  -286
  -298
Prev. year cash balance distribution, $m
 
  273
  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
 
  367
  108
  125
  143
  163
  183
  205
  228
  253
  278
  294
  322
  351
  381
  412
  445
  478
  514
  550
  588
  627
  668
  711
  756
  802
  850
  901
  953
  1,008
  1,065
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
 
  352
  99
  109
  118
  126
  133
  139
  143
  145
  146
  140
  137
  133
  128
  121
  113
  104
  95
  85
  75
  65
  55
  47
  38
  31
  25
  19
  15
  11
  8
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

Littelfuse, Inc. is a supplier of circuit protection products for the electronics, automotive and industrial markets. The Company operates through three segments. The Electronics segment provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to manufacturers of a range of electronic products. The Automotive segment provides circuit protection and sensor products to the worldwide automotive original equipment manufacturers (OEM) and parts distributors of passenger automobiles, trucks, buses, and off-road equipment. The Industrial Segment provides circuit protection products for industrial and commercial customers. The Company also offers electronic reed switches and sensors, automotive sensors for comfort and safety systems and a range of electromechanical and electronic switch and control devices for commercial and specialty vehicles.

FINANCIAL RATIOS  of  Littelfuse (LFUS)

Valuation Ratios
P/E Ratio 43
Price to Sales 4.2
Price to Book 5.5
Price to Tangible Book
Price to Cash Flow 24.9
Price to Free Cash Flow 33.4
Growth Rates
Sales Growth Rate 21.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.5%
Cap. Spend. - 3 Yr. Gr. Rate 5.6%
Financial Strength
Quick Ratio 47
Current Ratio 0
LT Debt to Equity 55%
Total Debt to Equity 55.7%
Interest Coverage 0
Management Effectiveness
Return On Assets 8.1%
Ret/ On Assets - 3 Yr. Avg. 8.4%
Return On Total Capital 9.5%
Ret/ On T. Cap. - 3 Yr. Avg. 9.7%
Return On Equity 13.4%
Return On Equity - 3 Yr. Avg. 12.8%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 39.1%
Gross Margin - 3 Yr. Avg. 38.4%
EBITDA Margin 16.7%
EBITDA Margin - 3 Yr. Avg. 18.1%
Operating Margin 12.3%
Oper. Margin - 3 Yr. Avg. 13.3%
Pre-Tax Margin 11.6%
Pre-Tax Margin - 3 Yr. Avg. 13.2%
Net Profit Margin 9.8%
Net Profit Margin - 3 Yr. Avg. 10.2%
Effective Tax Rate 15.4%
Eff/ Tax Rate - 3 Yr. Avg. 21.8%
Payout Ratio 26.9%

LFUS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LFUS stock intrinsic value calculation we used $1056 million for the last fiscal year's total revenue generated by Littelfuse. The default revenue input number comes from 2016 income statement of Littelfuse. 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 LFUS stock valuation model: a) initial revenue growth rate of 15.1% 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 LFUS is calculated based on our internal credit rating of Littelfuse, 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 Littelfuse.
    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 LFUS stock the variable cost ratio is equal to 86.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $16 million in the base year in the intrinsic value calculation for LFUS 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 Littelfuse.

Corporate tax rate of 27% is the nominal tax rate for Littelfuse. 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 LFUS 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 LFUS are equal to 32.4%.

Life of production assets of 12.1 years is the average useful life of capital assets used in Littelfuse 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 LFUS is equal to 14.3%. 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 - $815 million for Littelfuse - 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 22.719 million for Littelfuse 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 Littelfuse at the current share price and the inputted number of shares is $4.5 billion.

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COMPANY NEWS

▶ ETFs with exposure to Littelfuse, Inc. : November 7, 2017   [Nov-07-17 10:26AM  Capital Cube]
▶ Littelfuse Sees RS Rating Climb To 72   [03:00AM  Investor's Business Daily]
▶ Littelfuse to Present at Upcoming Investor Conferences   [Nov-02-17 04:15PM  Business Wire]
▶ Littelfuse Sees Growth Slowdown Ahead   [08:00AM  Motley Fool]
▶ Why Shares of Littelfuse Slumped Today   [12:46PM  Motley Fool]
▶ Littelfuse Reports Third Quarter Results   [06:30AM  Business Wire]
▶ Littelfuse meets 3Q profit forecasts   [06:25AM  Associated Press]
▶ Undiscovered Managers: A Proven Approach in Small Caps   [Oct-31-17 07:03AM  Morningstar]
▶ Littelfuse to Report Third Quarter Results November 1   [Oct-04-17 11:00AM  Business Wire]
▶ New Strong Buy Stocks for September 18th   [Sep-18-17 10:37AM  Zacks]
▶ WeissLaw LLP Investigates IXYS Corporation Acquisition   [Aug-29-17 02:03PM  PR Newswire]
▶ IXYS Surges on Incredible Deal   [08:50AM  24/7 Wall St.]
▶ Littelfuse to Acquire IXYS Corporation   [06:00AM  Business Wire]
▶ Littelfuse meets 2Q profit forecasts   [Aug-02-17 09:58PM  Associated Press]
▶ A Bottom-Line Surge for Littelfuse   [06:30PM  Motley Fool]
▶ Littelfuse Reports Second Quarter Results   [06:30AM  Business Wire]
▶ Littelfuse Raises Guidance for Second Quarter   [Jul-18-17 06:30AM  Business Wire]
▶ Can This Electronics Stock Spark A New Breakout Ahead Of Q2 Earnings?   [Jul-06-17 11:22AM  Investor's Business Daily]
▶ Littelfuse to Report Second Quarter Results August 2   [Jun-29-17 11:30AM  Business Wire]
▶ Littelfuse Named One of the Best Places to Work in Illinois   [May-23-17 10:00AM  Business Wire]
▶ ETFs with exposure to Littelfuse, Inc. : May 9, 2017   [May-09-17 04:45PM  Capital Cube]
▶ Littelfuse tops Street 1Q forecasts   [06:42AM  Associated Press]
▶ Littelfuse Reports First Quarter Results   [06:30AM  Business Wire]
▶ Littelfuse to Present at Upcoming Investor Conferences   [Apr-25-17 11:00AM  Business Wire]
▶ Invest in These Top 4 GARP Stocks Now   [Apr-20-17 07:36AM  Zacks]
▶ Littelfuse to Report First Quarter Results May 3   [Apr-05-17 09:40AM  Business Wire]
▶ Organic Growth Accelerates for Littelfuse   [Feb-01-17 03:19PM  Motley Fool]
▶ Organic Growth Accelerates for Littelfuse   [03:19PM  at Motley Fool]
▶ Littelfuse tops Street 4Q forecasts   [06:48AM  Associated Press]
Financial statements of LFUS
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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