Intrinsic value of LogMeIn - LOGM

Previous Close

$119.15

  Intrinsic Value

$231.37

stock screener

  Rating & Target

str. buy

+94%

Previous close

$119.15

 
Intrinsic value

$231.37

 
Up/down potential

+94%

 
Rating

str. buy

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

We calculate the intrinsic value of LOGM 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 6.3

 

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, %
  23.53
  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
  336
  538
  831
  1,242
  1,802
  2,543
  3,496
  4,692
  6,161
  7,928
  10,014
  12,435
  15,203
  18,325
  21,803
  25,636
  29,821
  34,351
  39,219
  44,418
  49,939
  55,775
  61,921
  68,370
  75,122
  82,174
  89,527
  97,185
  105,152
  113,436
  122,047
Variable operating expenses, $m
 
  498
  763
  1,135
  1,641
  2,310
  3,171
  4,253
  5,580
  7,177
  9,062
  11,237
  13,739
  16,560
  19,703
  23,167
  26,949
  31,043
  35,442
  40,140
  45,129
  50,404
  55,957
  61,786
  67,887
  74,259
  80,905
  87,825
  95,025
  102,511
  110,292
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
  332
  498
  763
  1,135
  1,641
  2,310
  3,171
  4,253
  5,580
  7,177
  9,062
  11,237
  13,739
  16,560
  19,703
  23,167
  26,949
  31,043
  35,442
  40,140
  45,129
  50,404
  55,957
  61,786
  67,887
  74,259
  80,905
  87,825
  95,025
  102,511
  110,292
Operating income, $m
  4
  40
  68
  107
  161
  233
  324
  440
  581
  751
  952
  1,198
  1,464
  1,765
  2,100
  2,469
  2,872
  3,308
  3,777
  4,278
  4,810
  5,372
  5,964
  6,585
  7,235
  7,914
  8,622
  9,360
  10,127
  10,925
  11,754
EBITDA, $m
  26
  67
  103
  154
  224
  316
  435
  583
  766
  986
  1,245
  1,546
  1,890
  2,278
  2,711
  3,187
  3,708
  4,271
  4,876
  5,523
  6,209
  6,935
  7,699
  8,501
  9,340
  10,217
  11,131
  12,083
  13,074
  14,104
  15,174
Interest expense (income), $m
  1
  1
  5
  12
  21
  34
  51
  73
  101
  135
  176
  224
  280
  345
  417
  497
  586
  683
  788
  901
  1,021
  1,149
  1,284
  1,427
  1,576
  1,732
  1,896
  2,066
  2,243
  2,428
  2,620
Earnings before tax, $m
  3
  39
  63
  96
  140
  199
  273
  366
  480
  616
  776
  973
  1,184
  1,420
  1,683
  1,972
  2,286
  2,625
  2,989
  3,377
  3,788
  4,223
  4,679
  5,158
  5,659
  6,182
  6,727
  7,294
  7,884
  8,497
  9,134
Tax expense, $m
  0
  10
  17
  26
  38
  54
  74
  99
  130
  166
  210
  263
  320
  383
  454
  532
  617
  709
  807
  912
  1,023
  1,140
  1,263
  1,393
  1,528
  1,669
  1,816
  1,969
  2,129
  2,294
  2,466
Net income, $m
  3
  28
  46
  70
  102
  145
  199
  267
  350
  450
  567
  710
  864
  1,037
  1,229
  1,439
  1,669
  1,916
  2,182
  2,465
  2,766
  3,083
  3,416
  3,765
  4,131
  4,513
  4,910
  5,324
  5,755
  6,203
  6,668

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  196
  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
  443
  395
  611
  913
  1,325
  1,870
  2,570
  3,450
  4,530
  5,829
  7,363
  9,143
  11,179
  13,474
  16,031
  18,850
  21,927
  25,258
  28,838
  32,660
  36,720
  41,011
  45,530
  50,272
  55,237
  60,422
  65,829
  71,459
  77,318
  83,409
  89,740
Adjusted assets (=assets-cash), $m
  247
  395
  611
  913
  1,325
  1,870
  2,570
  3,450
  4,530
  5,829
  7,363
  9,143
  11,179
  13,474
  16,031
  18,850
  21,927
  25,258
  28,838
  32,660
  36,720
  41,011
  45,530
  50,272
  55,237
  60,422
  65,829
  71,459
  77,318
  83,409
  89,740
Revenue / Adjusted assets
  1.360
  1.362
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
  1.360
Average production assets, $m
  91
  145
  223
  334
  485
  684
  940
  1,262
  1,657
  2,133
  2,694
  3,345
  4,090
  4,929
  5,865
  6,896
  8,022
  9,240
  10,550
  11,948
  13,434
  15,004
  16,657
  18,392
  20,208
  22,105
  24,083
  26,143
  28,286
  30,514
  32,831
Working capital, $m
  21
  -280
  -433
  -647
  -939
  -1,325
  -1,821
  -2,445
  -3,210
  -4,131
  -5,217
  -6,479
  -7,921
  -9,547
  -11,359
  -13,356
  -15,537
  -17,897
  -20,433
  -23,142
  -26,018
  -29,059
  -32,261
  -35,621
  -39,138
  -42,812
  -46,643
  -50,633
  -54,784
  -59,100
  -63,586
Total debt, $m
  30
  139
  333
  605
  976
  1,466
  2,096
  2,888
  3,860
  5,030
  6,410
  8,012
  9,844
  11,910
  14,211
  16,748
  19,517
  22,515
  25,737
  29,177
  32,831
  36,693
  40,760
  45,028
  49,496
  54,163
  59,029
  64,096
  69,369
  74,851
  80,549
Total liabilities, $m
  247
  356
  550
  822
  1,193
  1,683
  2,313
  3,105
  4,077
  5,247
  6,627
  8,229
  10,061
  12,127
  14,428
  16,965
  19,734
  22,732
  25,954
  29,394
  33,048
  36,910
  40,977
  45,245
  49,713
  54,380
  59,246
  64,313
  69,586
  75,068
  80,766
Total equity, $m
  196
  40
  61
  91
  133
  187
  257
  345
  453
  583
  736
  914
  1,118
  1,347
  1,603
  1,885
  2,193
  2,526
  2,884
  3,266
  3,672
  4,101
  4,553
  5,027
  5,524
  6,042
  6,583
  7,146
  7,732
  8,341
  8,974
Total liabilities and equity, $m
  443
  396
  611
  913
  1,326
  1,870
  2,570
  3,450
  4,530
  5,830
  7,363
  9,143
  11,179
  13,474
  16,031
  18,850
  21,927
  25,258
  28,838
  32,660
  36,720
  41,011
  45,530
  50,272
  55,237
  60,422
  65,829
  71,459
  77,318
  83,409
  89,740
Debt-to-equity ratio
  0.153
  3.510
  5.450
  6.620
  7.360
  7.840
  8.160
  8.370
  8.520
  8.630
  8.710
  8.760
  8.810
  8.840
  8.860
  8.880
  8.900
  8.910
  8.920
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
  8.980
Adjusted equity ratio
  0.000
  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
  3
  28
  46
  70
  102
  145
  199
  267
  350
  450
  567
  710
  864
  1,037
  1,229
  1,439
  1,669
  1,916
  2,182
  2,465
  2,766
  3,083
  3,416
  3,765
  4,131
  4,513
  4,910
  5,324
  5,755
  6,203
  6,668
Depreciation, amort., depletion, $m
  22
  27
  35
  47
  63
  83
  110
  144
  185
  234
  293
  348
  426
  513
  611
  718
  836
  963
  1,099
  1,245
  1,399
  1,563
  1,735
  1,916
  2,105
  2,303
  2,509
  2,723
  2,946
  3,179
  3,420
Funds from operations, $m
  130
  55
  81
  117
  165
  228
  310
  411
  535
  684
  859
  1,059
  1,290
  1,550
  1,839
  2,158
  2,504
  2,879
  3,281
  3,710
  4,165
  4,645
  5,151
  5,681
  6,236
  6,815
  7,419
  8,048
  8,702
  9,381
  10,088
Change in working capital, $m
  38
  -105
  -153
  -214
  -292
  -386
  -496
  -623
  -765
  -920
  -1,087
  -1,261
  -1,442
  -1,626
  -1,812
  -1,997
  -2,180
  -2,360
  -2,536
  -2,708
  -2,876
  -3,041
  -3,202
  -3,360
  -3,517
  -3,674
  -3,831
  -3,990
  -4,151
  -4,316
  -4,486
Cash from operations, $m
  92
  160
  234
  331
  457
  614
  806
  1,035
  1,301
  1,605
  1,946
  2,320
  2,732
  3,177
  3,652
  4,155
  4,685
  5,239
  5,817
  6,418
  7,041
  7,686
  8,353
  9,042
  9,753
  10,489
  11,250
  12,037
  12,853
  13,698
  14,574
Maintenance CAPEX, $m
  0
  -9
  -15
  -23
  -35
  -51
  -71
  -98
  -131
  -173
  -222
  -281
  -348
  -426
  -513
  -611
  -718
  -836
  -963
  -1,099
  -1,245
  -1,399
  -1,563
  -1,735
  -1,916
  -2,105
  -2,303
  -2,509
  -2,723
  -2,946
  -3,179
New CAPEX, $m
  -16
  -54
  -79
  -111
  -151
  -199
  -256
  -322
  -395
  -475
  -561
  -651
  -745
  -840
  -936
  -1,031
  -1,126
  -1,219
  -1,310
  -1,398
  -1,485
  -1,570
  -1,653
  -1,735
  -1,816
  -1,897
  -1,978
  -2,060
  -2,143
  -2,228
  -2,316
Cash from investing activities, $m
  7
  -63
  -94
  -134
  -186
  -250
  -327
  -420
  -526
  -648
  -783
  -932
  -1,093
  -1,266
  -1,449
  -1,642
  -1,844
  -2,055
  -2,273
  -2,497
  -2,730
  -2,969
  -3,216
  -3,470
  -3,732
  -4,002
  -4,281
  -4,569
  -4,866
  -5,174
  -5,495
Free cash flow, $m
  99
  97
  140
  197
  271
  364
  478
  615
  774
  957
  1,163
  1,388
  1,639
  1,911
  2,202
  2,513
  2,841
  3,185
  3,545
  3,921
  4,312
  4,717
  5,137
  5,572
  6,022
  6,487
  6,969
  7,469
  7,986
  8,523
  9,079
Issuance/(repayment) of debt, $m
  -30
  109
  194
  272
  371
  490
  631
  792
  972
  1,169
  1,380
  1,602
  1,832
  2,066
  2,302
  2,537
  2,769
  2,998
  3,222
  3,440
  3,654
  3,862
  4,067
  4,268
  4,468
  4,667
  4,866
  5,068
  5,273
  5,482
  5,698
Issuance/(repurchase) of shares, $m
  -14
  11
  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  
  -54
  120
  194
  272
  371
  490
  631
  792
  972
  1,169
  1,380
  1,602
  1,832
  2,066
  2,302
  2,537
  2,769
  2,998
  3,222
  3,440
  3,654
  3,862
  4,067
  4,268
  4,468
  4,667
  4,866
  5,068
  5,273
  5,482
  5,698
Total cash flow (excl. dividends), $m
  43
  217
  334
  470
  642
  855
  1,109
  1,407
  1,746
  2,126
  2,543
  2,991
  3,471
  3,977
  4,504
  5,049
  5,610
  6,183
  6,767
  7,361
  7,965
  8,579
  9,203
  9,840
  10,489
  11,154
  11,836
  12,536
  13,259
  14,005
  14,777
Retained Cash Flow (-), $m
  12
  -40
  -22
  -30
  -41
  -54
  -70
  -88
  -108
  -130
  -153
  -178
  -204
  -230
  -256
  -282
  -308
  -333
  -358
  -382
  -406
  -429
  -452
  -474
  -496
  -519
  -541
  -563
  -586
  -609
  -633
Prev. year cash balance distribution, $m
 
  196
  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
 
  374
  313
  439
  601
  800
  1,039
  1,319
  1,638
  1,996
  2,390
  2,813
  3,267
  3,747
  4,248
  4,768
  5,302
  5,850
  6,409
  6,979
  7,559
  8,150
  8,752
  9,366
  9,993
  10,635
  11,295
  11,973
  12,673
  13,396
  14,144
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
 
  358
  286
  382
  495
  620
  754
  891
  1,024
  1,147
  1,253
  1,336
  1,394
  1,425
  1,426
  1,400
  1,347
  1,273
  1,180
  1,075
  961
  843
  726
  614
  509
  414
  330
  257
  196
  146
  107
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

LogMeIn, Inc. provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company's core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings. The Company's communication and collaboration services include GoToMeeting; GoToTraining; GoToWebinar; join.me, join.me pro and join.me enterprise; OpenVoice, and Grasshopper. The Company's customer engagement and support services include BoldChat; GoToAssist, GoToAssist Corporate and GoToAssist Seeit; LogMeIn Rescue, Rescue Lens and LogMeIn Rescue+Mobile, and Xively. Its identity and access management services include LogMeIn Central, GoToMyPC, LogMeIn Pro and LastPass. Its additional service offerings include LogMeIn Backup, LogMeIn Hamachi and RemotelyAnywhere.

FINANCIAL RATIOS  of  LogMeIn (LOGM)

Valuation Ratios
P/E Ratio 1014.8
Price to Sales 9.1
Price to Book 15.5
Price to Tangible Book
Price to Cash Flow 33.1
Price to Free Cash Flow 40.1
Growth Rates
Sales Growth Rate 23.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5.9%
Cap. Spend. - 3 Yr. Gr. Rate -7.8%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 15.3%
Total Debt to Equity 15.3%
Interest Coverage 4
Management Effectiveness
Return On Assets 0.9%
Ret/ On Assets - 3 Yr. Avg. 2.6%
Return On Total Capital 1.2%
Ret/ On T. Cap. - 3 Yr. Avg. 4.2%
Return On Equity 1.5%
Return On Equity - 3 Yr. Avg. 4.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 86.6%
Gross Margin - 3 Yr. Avg. 86.8%
EBITDA Margin 7.7%
EBITDA Margin - 3 Yr. Avg. 9.6%
Operating Margin 1.2%
Oper. Margin - 3 Yr. Avg. 3.7%
Pre-Tax Margin 0.9%
Pre-Tax Margin - 3 Yr. Avg. 3.9%
Net Profit Margin 0.9%
Net Profit Margin - 3 Yr. Avg. 3.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 9.3%
Payout Ratio 833.3%

LOGM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LOGM stock intrinsic value calculation we used $336 million for the last fiscal year's total revenue generated by LogMeIn. The default revenue input number comes from 2016 income statement of LogMeIn. 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 LOGM 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 LOGM is calculated based on our internal credit rating of LogMeIn, 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 LogMeIn.
    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 LOGM stock the variable cost ratio is equal to 94%.

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 LOGM 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 LogMeIn.

Corporate tax rate of 27% is the nominal tax rate for LogMeIn. 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 LOGM 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 LOGM are equal to 26.9%.

Life of production assets of 9.6 years is the average useful life of capital assets used in LogMeIn 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 LOGM is equal to -52.1%. 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 - $196 million for LogMeIn - 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 52.707 million for LogMeIn 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 LogMeIn at the current share price and the inputted number of shares is $6.3 billion.

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▶ ETFs with exposure to LogMeIn, Inc. : August 8, 2017   [Aug-08-17 04:46PM  Capital Cube]
▶ LogMeIn to Attend Upcoming Investor Conferences   [Jul-31-17 04:38PM  GlobeNewswire]
▶ Nasdaq Fights Back After Early Fall; Amazon Down But Holds 1,000   [Jul-28-17 03:03PM  Investor's Business Daily]
▶ LogMeIn Gaps Up On Earnings: Is The Stock Actionable?   [05:03AM  Investor's Business Daily]
▶ LogMein beats 2Q profit forecasts   [Jul-27-17 10:55PM  Associated Press]
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▶ ETFs with exposure to LogMeIn, Inc. : July 21, 2017   [Jul-21-17 01:54PM  Capital Cube]
▶ LogMeIn Sets Date to Announce Second Quarter 2017 Results   [Jul-11-17 04:08PM  GlobeNewswire]
▶ ETFs with exposure to LogMeIn, Inc. : July 10, 2017   [Jul-10-17 02:49PM  Capital Cube]
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▶ ETFs with exposure to LogMeIn, Inc. : June 15, 2017   [Jun-15-17 02:27PM  Capital Cube]
▶ LogMeIn to Attend Upcoming Investor Conferences   [May-25-17 04:08PM  GlobeNewswire]
▶ LogMein reports 1Q loss   [05:02PM  Associated Press]
▶ LogMeIn Announces First Quarter 2017 Results   [04:08PM  GlobeNewswire]
▶ Why You Should Consider Amazon, Netflix, Alibaba For Your Portfolio   [May-01-17 04:02PM  Investor's Business Daily]
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▶ Top Tech Stock Nears Buy Point With Earnings Due   [Apr-21-17 11:24AM  Investor's Business Daily]
▶ LogMeIn Sets Date to Announce First Quarter 2017 Results   [Apr-10-17 04:08PM  GlobeNewswire]
▶ LogMeIn Integrates join.me and OpenVoice   [Apr-05-17 09:00AM  GlobeNewswire]
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▶ In growth mode, LogMeIn signs lease in downtown Raleigh   [Mar-28-17 03:00PM  at bizjournals.com]
▶ In growth mode, LogMeIn signs lease in downtown Raleigh   [03:00PM  American City Business Journals]
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▶ LogMeIn expects $1B in sales in 2017 and investors are loving it   [Mar-01-17 11:55AM  at bizjournals.com]
Financial statements of LOGM
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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