Intrinsic value of Mohawk Industries - MHK

Previous Close

$221.52

  Intrinsic Value

$144.89

stock screener

  Rating & Target

sell

-35%

Previous close

$221.52

 
Intrinsic value

$144.89

 
Up/down potential

-35%

 
Rating

sell

We calculate the intrinsic value of MHK 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 16.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
  5.25
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
Revenue, $m
  10,051
  10,635
  11,244
  11,880
  12,544
  13,238
  13,963
  14,722
  15,515
  16,345
  17,213
  18,123
  19,075
  20,072
  21,117
  22,212
  23,360
  24,563
  25,824
  27,147
  28,534
  29,988
  31,514
  33,115
  34,795
  36,557
  38,406
  40,347
  42,383
  44,520
Variable operating expenses, $m
  8,594
  9,074
  9,574
  10,097
  10,642
  11,212
  11,808
  12,431
  13,083
  13,765
  14,142
  14,889
  15,671
  16,491
  17,349
  18,249
  19,191
  20,180
  21,216
  22,303
  23,442
  24,637
  25,891
  27,206
  28,586
  30,034
  31,553
  33,147
  34,820
  36,576
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
  8,594
  9,074
  9,574
  10,097
  10,642
  11,212
  11,808
  12,431
  13,083
  13,765
  14,142
  14,889
  15,671
  16,491
  17,349
  18,249
  19,191
  20,180
  21,216
  22,303
  23,442
  24,637
  25,891
  27,206
  28,586
  30,034
  31,553
  33,147
  34,820
  36,576
Operating income, $m
  1,457
  1,561
  1,670
  1,784
  1,902
  2,026
  2,155
  2,291
  2,432
  2,580
  3,071
  3,234
  3,404
  3,582
  3,768
  3,963
  4,168
  4,383
  4,608
  4,844
  5,091
  5,351
  5,623
  5,909
  6,209
  6,523
  6,853
  7,199
  7,563
  7,944
EBITDA, $m
  2,540
  2,688
  2,842
  3,003
  3,170
  3,346
  3,529
  3,721
  3,921
  4,131
  4,350
  4,580
  4,821
  5,073
  5,337
  5,614
  5,904
  6,208
  6,527
  6,861
  7,211
  7,579
  7,965
  8,369
  8,794
  9,239
  9,707
  10,197
  10,712
  11,252
Interest expense (income), $m
  57
  149
  165
  182
  199
  217
  236
  256
  277
  299
  321
  345
  370
  396
  423
  452
  482
  513
  546
  580
  616
  654
  694
  735
  779
  825
  873
  923
  976
  1,032
  1,090
Earnings before tax, $m
  1,308
  1,396
  1,488
  1,584
  1,685
  1,790
  1,899
  2,014
  2,133
  2,259
  2,726
  2,864
  3,008
  3,158
  3,316
  3,482
  3,655
  3,837
  4,028
  4,228
  4,437
  4,657
  4,888
  5,130
  5,384
  5,650
  5,930
  6,223
  6,531
  6,854
Tax expense, $m
  353
  377
  402
  428
  455
  483
  513
  544
  576
  610
  736
  773
  812
  853
  895
  940
  987
  1,036
  1,087
  1,141
  1,198
  1,257
  1,320
  1,385
  1,454
  1,525
  1,601
  1,680
  1,763
  1,851
Net income, $m
  955
  1,019
  1,087
  1,157
  1,230
  1,306
  1,386
  1,470
  1,557
  1,649
  1,990
  2,091
  2,196
  2,306
  2,421
  2,542
  2,668
  2,801
  2,940
  3,086
  3,239
  3,400
  3,568
  3,745
  3,930
  4,124
  4,329
  4,543
  4,767
  5,003

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
  12,804
  13,548
  14,324
  15,134
  15,980
  16,864
  17,788
  18,754
  19,764
  20,821
  21,928
  23,086
  24,299
  25,570
  26,901
  28,296
  29,757
  31,290
  32,897
  34,582
  36,349
  38,202
  40,146
  42,185
  44,325
  46,569
  48,925
  51,397
  53,991
  56,713
Adjusted assets (=assets-cash), $m
  12,804
  13,548
  14,324
  15,134
  15,980
  16,864
  17,788
  18,754
  19,764
  20,821
  21,928
  23,086
  24,299
  25,570
  26,901
  28,296
  29,757
  31,290
  32,897
  34,582
  36,349
  38,202
  40,146
  42,185
  44,325
  46,569
  48,925
  51,397
  53,991
  56,713
Revenue / Adjusted assets
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
  0.785
Average production assets, $m
  7,468
  7,902
  8,354
  8,827
  9,320
  9,836
  10,375
  10,938
  11,528
  12,144
  12,789
  13,465
  14,173
  14,914
  15,690
  16,504
  17,356
  18,250
  19,187
  20,170
  21,200
  22,281
  23,415
  24,605
  25,853
  27,162
  28,536
  29,977
  31,490
  33,078
Working capital, $m
  523
  553
  585
  618
  652
  688
  726
  766
  807
  850
  895
  942
  992
  1,044
  1,098
  1,155
  1,215
  1,277
  1,343
  1,412
  1,484
  1,559
  1,639
  1,722
  1,809
  1,901
  1,997
  2,098
  2,204
  2,315
Total debt, $m
  3,054
  3,364
  3,686
  4,023
  4,375
  4,743
  5,127
  5,529
  5,950
  6,389
  6,850
  7,332
  7,836
  8,365
  8,918
  9,499
  10,107
  10,744
  11,413
  12,114
  12,849
  13,620
  14,428
  15,277
  16,167
  17,101
  18,081
  19,109
  20,188
  21,320
Total liabilities, $m
  5,326
  5,636
  5,959
  6,296
  6,648
  7,015
  7,400
  7,802
  8,222
  8,662
  9,122
  9,604
  10,108
  10,637
  11,191
  11,771
  12,379
  13,017
  13,685
  14,386
  15,121
  15,892
  16,701
  17,549
  18,439
  19,373
  20,353
  21,381
  22,460
  23,593
Total equity, $m
  7,477
  7,912
  8,365
  8,838
  9,332
  9,849
  10,388
  10,952
  11,542
  12,160
  12,806
  13,482
  14,191
  14,933
  15,710
  16,525
  17,378
  18,273
  19,212
  20,196
  21,228
  22,310
  23,445
  24,636
  25,886
  27,197
  28,572
  30,016
  31,531
  33,121
Total liabilities and equity, $m
  12,803
  13,548
  14,324
  15,134
  15,980
  16,864
  17,788
  18,754
  19,764
  20,822
  21,928
  23,086
  24,299
  25,570
  26,901
  28,296
  29,757
  31,290
  32,897
  34,582
  36,349
  38,202
  40,146
  42,185
  44,325
  46,570
  48,925
  51,397
  53,991
  56,714
Debt-to-equity ratio
  0.410
  0.430
  0.440
  0.460
  0.470
  0.480
  0.490
  0.500
  0.520
  0.530
  0.530
  0.540
  0.550
  0.560
  0.570
  0.570
  0.580
  0.590
  0.590
  0.600
  0.610
  0.610
  0.620
  0.620
  0.620
  0.630
  0.630
  0.640
  0.640
  0.640
Adjusted equity ratio
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584
  0.584

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  955
  1,019
  1,087
  1,157
  1,230
  1,306
  1,386
  1,470
  1,557
  1,649
  1,990
  2,091
  2,196
  2,306
  2,421
  2,542
  2,668
  2,801
  2,940
  3,086
  3,239
  3,400
  3,568
  3,745
  3,930
  4,124
  4,329
  4,543
  4,767
  5,003
Depreciation, amort., depletion, $m
  1,083
  1,126
  1,172
  1,219
  1,268
  1,320
  1,374
  1,430
  1,489
  1,551
  1,279
  1,347
  1,417
  1,491
  1,569
  1,650
  1,736
  1,825
  1,919
  2,017
  2,120
  2,228
  2,342
  2,460
  2,585
  2,716
  2,854
  2,998
  3,149
  3,308
Funds from operations, $m
  2,038
  2,146
  2,258
  2,376
  2,498
  2,626
  2,760
  2,900
  3,047
  3,200
  3,269
  3,437
  3,613
  3,797
  3,990
  4,192
  4,404
  4,626
  4,859
  5,103
  5,359
  5,628
  5,910
  6,205
  6,515
  6,841
  7,182
  7,540
  7,916
  8,311
Change in working capital, $m
  29
  30
  32
  33
  35
  36
  38
  39
  41
  43
  45
  47
  50
  52
  54
  57
  60
  63
  66
  69
  72
  76
  79
  83
  87
  92
  96
  101
  106
  111
Cash from operations, $m
  2,009
  2,115
  2,227
  2,343
  2,464
  2,590
  2,722
  2,861
  3,005
  3,157
  3,224
  3,390
  3,563
  3,745
  3,936
  4,135
  4,344
  4,563
  4,793
  5,034
  5,287
  5,552
  5,830
  6,122
  6,428
  6,749
  7,086
  7,440
  7,811
  8,200
Maintenance CAPEX, $m
  -706
  -747
  -790
  -835
  -883
  -932
  -984
  -1,037
  -1,094
  -1,153
  -1,214
  -1,279
  -1,347
  -1,417
  -1,491
  -1,569
  -1,650
  -1,736
  -1,825
  -1,919
  -2,017
  -2,120
  -2,228
  -2,342
  -2,460
  -2,585
  -2,716
  -2,854
  -2,998
  -3,149
New CAPEX, $m
  -411
  -434
  -453
  -473
  -493
  -516
  -539
  -563
  -589
  -617
  -645
  -676
  -707
  -741
  -776
  -814
  -853
  -894
  -937
  -983
  -1,031
  -1,081
  -1,134
  -1,189
  -1,248
  -1,309
  -1,374
  -1,442
  -1,513
  -1,588
Cash from investing activities, $m
  -1,117
  -1,181
  -1,243
  -1,308
  -1,376
  -1,448
  -1,523
  -1,600
  -1,683
  -1,770
  -1,859
  -1,955
  -2,054
  -2,158
  -2,267
  -2,383
  -2,503
  -2,630
  -2,762
  -2,902
  -3,048
  -3,201
  -3,362
  -3,531
  -3,708
  -3,894
  -4,090
  -4,296
  -4,511
  -4,737
Free cash flow, $m
  892
  935
  984
  1,035
  1,088
  1,143
  1,200
  1,260
  1,322
  1,387
  1,364
  1,435
  1,509
  1,587
  1,668
  1,753
  1,841
  1,934
  2,031
  2,133
  2,240
  2,351
  2,468
  2,591
  2,720
  2,854
  2,996
  3,144
  3,300
  3,463
Issuance/(repayment) of debt, $m
  291
  309
  323
  337
  352
  368
  384
  402
  420
  440
  460
  482
  505
  529
  554
  580
  608
  638
  668
  701
  735
  771
  809
  848
  890
  934
  980
  1,028
  1,079
  1,133
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  
  291
  309
  323
  337
  352
  368
  384
  402
  420
  440
  460
  482
  505
  529
  554
  580
  608
  638
  668
  701
  735
  771
  809
  848
  890
  934
  980
  1,028
  1,079
  1,133
Total cash flow (excl. dividends), $m
  1,182
  1,244
  1,307
  1,372
  1,439
  1,510
  1,584
  1,662
  1,742
  1,827
  1,825
  1,917
  2,014
  2,115
  2,222
  2,333
  2,449
  2,572
  2,700
  2,834
  2,975
  3,122
  3,277
  3,439
  3,610
  3,788
  3,976
  4,173
  4,379
  4,596
Retained Cash Flow (-), $m
  -418
  -434
  -453
  -473
  -494
  -516
  -540
  -564
  -590
  -617
  -646
  -676
  -708
  -742
  -777
  -815
  -854
  -895
  -938
  -984
  -1,032
  -1,082
  -1,135
  -1,191
  -1,249
  -1,311
  -1,376
  -1,444
  -1,515
  -1,590
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
  38
  40
  43
  45
  48
  50
  53
  56
  59
  62
  65
  69
  72
  76
  80
  84
  89
  93
  98
  103
  109
  114
  120
  126
  132
  139
  146
  154
  161
  170
Cash available for distribution, $m
  764
  810
  853
  898
  945
  994
  1,045
  1,098
  1,152
  1,210
  1,178
  1,241
  1,306
  1,373
  1,444
  1,518
  1,596
  1,677
  1,761
  1,850
  1,943
  2,040
  2,142
  2,248
  2,360
  2,477
  2,600
  2,729
  2,864
  3,006
Discount rate, %
  5.00
  5.25
  5.51
  5.79
  6.08
  6.38
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
PV of cash for distribution, $m
  728
  731
  726
  717
  704
  686
  664
  637
  607
  573
  498
  463
  427
  389
  350
  312
  274
  238
  203
  171
  142
  116
  93
  73
  56
  42
  31
  23
  16
  11
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

Mohawk Industries, Inc. is a flooring manufacturer that creates products for residential and commercial spaces around the world. The Company' segments include Global Ceramic, Flooring North America (Flooring NA) and Flooring Rest of the World (Flooring ROW). Its manufacturing and distribution processes provide carpet, rugs, ceramic tile, laminate, wood, stone, luxury vinyl tile and vinyl flooring. The Global Ceramic segment designs, manufactures, sources, distributes and markets a line of ceramic tile, porcelain tile and natural stone products used in the residential and commercial markets for both remodeling and new construction. The Flooring NA segment designs, manufactures, sources, distributes and markets carpet, laminate, carpet pad, rugs, hardwood and vinyl. The Flooring ROW segment designs, manufactures, sources, distributes and markets laminate, hardwood flooring, roofing elements, insulation boards, medium-density fiberboard (MDF), chipboards, and vinyl flooring products.

FINANCIAL RATIOS  of  Mohawk Industries (MHK)

Valuation Ratios
P/E Ratio 17.7
Price to Sales 1.8
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow 12.4
Price to Free Cash Flow 25
Growth Rates
Sales Growth Rate 11%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate 12.9%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 19.5%
Total Debt to Equity 43.5%
Interest Coverage 23
Management Effectiveness
Return On Assets 9.6%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 11.4%
Ret/ On T. Cap. - 3 Yr. Avg. 9.2%
Return On Equity 17.5%
Return On Equity - 3 Yr. Avg. 14.2%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 31.8%
Gross Margin - 3 Yr. Avg. 30.1%
EBITDA Margin 19.1%
EBITDA Margin - 3 Yr. Avg. 16%
Operating Margin 14.3%
Oper. Margin - 3 Yr. Avg. 11.5%
Pre-Tax Margin 13.9%
Pre-Tax Margin - 3 Yr. Avg. 10.5%
Net Profit Margin 10.4%
Net Profit Margin - 3 Yr. Avg. 8.3%
Effective Tax Rate 24.7%
Eff/ Tax Rate - 3 Yr. Avg. 20.7%
Payout Ratio 0%

MHK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MHK stock intrinsic value calculation we used $9491 million for the last fiscal year's total revenue generated by Mohawk Industries. The default revenue input number comes from 2017 income statement of Mohawk Industries. 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 MHK stock valuation model: a) initial revenue growth rate of 5.9% 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 5%, whose default value for MHK is calculated based on our internal credit rating of Mohawk Industries, 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 Mohawk Industries.
    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 MHK stock the variable cost ratio is equal to 85.7%.

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 MHK 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 Mohawk Industries.

Corporate tax rate of 27% is the nominal tax rate for Mohawk Industries. 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 MHK 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 MHK are equal to 74.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Mohawk Industries 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 MHK is equal to 5.2%. 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 - $7059 million for Mohawk Industries - 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 74 million for Mohawk Industries 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 Mohawk Industries at the current share price and the inputted number of shares is $16.4 billion.

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COMPANY NEWS

▶ 10 Cheap Consumer Stocks for an Uncertain Market   [Jul-18-18 10:12AM  InvestorPlace]
▶ [$$] Mohawk Finds a Floor   [Jul-14-18 12:01AM  Barrons.com]
▶ Berko: That's right, the women are smarter so let your wife have input on investments   [Jun-22-18 06:05AM  American City Business Journals]
▶ Should You Buy Mohawk Industries Inc (NYSE:MHK) At $213.58?   [May-12-18 04:27PM  Simply Wall St.]
▶ 7 Consumer Goods Stocks That Will Rise Again   [May-11-18 01:03PM  InvestorPlace]
▶ Mohawk Industries: 1Q Earnings Snapshot   [Apr-26-18 04:49PM  Associated Press]
▶ Mohawk Industries Reports Q1 Results   [04:46PM  PR Newswire]
▶ Mohawk Industries Reports Q1 Results   [04:05PM  PR Newswire]
▶ Should You Sell Mohawk (MHK) Before Earnings?   [Apr-25-18 08:39AM  Zacks]
▶ [$$] Why Mohawk Industries Shares Could Rise 38%   [Apr-10-18 02:00PM  Barrons.com]
▶ Top Research Reports for Visa, AIG & Delta   [Mar-12-18 03:02PM  Zacks]
▶ Mohawk Industries beats 4Q profit forecasts   [Feb-08-18 04:31PM  Associated Press]
▶ Mohawk Industries Reports Q4 Results   [04:05PM  PR Newswire]
▶ Mohawk Industries Reports Q4 Results   [04:05PM  CNW Group]
▶ Mohawk Industries, Inc. to Host Earnings Call   [Oct-27-17 08:50AM  ACCESSWIRE]
▶ Mohawk Industries tops 3Q profit forecasts   [Oct-26-17 04:16PM  Associated Press]
▶ Mohawk Industries Reports Q3 Results   [04:05PM  CNW Group]
▶ How Credit Suisse Views Mohawk Industries   [09:11AM  Market Realist]
▶ Stocks With Rising Relative Strength: Mohawk Industries   [Sep-29-17 03:00AM  Investor's Business Daily]
▶ Mohawk Industries beats 2Q profit forecasts   [Jul-27-17 11:46PM  Associated Press]
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