Intrinsic value of Mosaic - MOS

Previous Close

$21.41

  Intrinsic Value

$9.02

stock screener

  Rating & Target

str. sell

-58%

  Value-price divergence*

-43%

Previous close

$21.41

 
Intrinsic value

$9.02

 
Up/down potential

-58%

 
Rating

str. sell

 
Value-price divergence*

-43%

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

We calculate the intrinsic value of MOS 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 7.6

 

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, %
  -19.47
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
  4.99
  4.99
  4.99
  4.99
Revenue, $m
  7,163
  7,507
  7,869
  8,249
  8,650
  9,071
  9,514
  9,979
  10,469
  10,983
  11,524
  12,092
  12,689
  13,316
  13,975
  14,668
  15,395
  16,159
  16,962
  17,805
  18,690
  19,620
  20,597
  21,622
  22,700
  23,831
  25,019
  26,267
  27,577
  28,953
  30,398
Variable operating expenses, $m
 
  3,340
  3,493
  3,654
  3,824
  4,002
  4,190
  4,387
  4,594
  4,812
  5,040
  5,118
  5,370
  5,636
  5,915
  6,208
  6,516
  6,839
  7,179
  7,535
  7,910
  8,304
  8,717
  9,151
  9,607
  10,086
  10,589
  11,117
  11,672
  12,254
  12,865
Fixed operating expenses, $m
 
  3,831
  3,927
  4,025
  4,126
  4,229
  4,335
  4,443
  4,554
  4,668
  4,785
  4,905
  5,027
  5,153
  5,282
  5,414
  5,549
  5,688
  5,830
  5,976
  6,125
  6,278
  6,435
  6,596
  6,761
  6,930
  7,103
  7,281
  7,463
  7,649
  7,841
Total operating expenses, $m
  6,844
  7,171
  7,420
  7,679
  7,950
  8,231
  8,525
  8,830
  9,148
  9,480
  9,825
  10,023
  10,397
  10,789
  11,197
  11,622
  12,065
  12,527
  13,009
  13,511
  14,035
  14,582
  15,152
  15,747
  16,368
  17,016
  17,692
  18,398
  19,135
  19,903
  20,706
Operating income, $m
  319
  335
  448
  569
  700
  840
  989
  1,149
  1,321
  1,503
  1,699
  2,070
  2,291
  2,528
  2,779
  3,046
  3,330
  3,632
  3,953
  4,293
  4,655
  5,038
  5,444
  5,875
  6,332
  6,815
  7,327
  7,869
  8,443
  9,050
  9,692
EBITDA, $m
  1,030
  1,129
  1,272
  1,425
  1,589
  1,764
  1,951
  2,150
  2,363
  2,589
  2,829
  3,085
  3,357
  3,646
  3,952
  4,278
  4,623
  4,989
  5,377
  5,788
  6,224
  6,685
  7,174
  7,690
  8,237
  8,816
  9,428
  10,075
  10,758
  11,481
  12,244
Interest expense (income), $m
  125
  132
  144
  157
  170
  184
  199
  215
  231
  249
  267
  286
  306
  327
  349
  372
  397
  422
  449
  477
  507
  538
  571
  605
  642
  680
  719
  761
  805
  851
  900
Earnings before tax, $m
  242
  203
  304
  413
  529
  655
  790
  934
  1,089
  1,255
  1,432
  1,784
  1,986
  2,201
  2,430
  2,674
  2,934
  3,210
  3,504
  3,816
  4,148
  4,500
  4,873
  5,270
  5,690
  6,135
  6,608
  7,108
  7,638
  8,198
  8,792
Tax expense, $m
  -75
  55
  82
  111
  143
  177
  213
  252
  294
  339
  387
  482
  536
  594
  656
  722
  792
  867
  946
  1,030
  1,120
  1,215
  1,316
  1,423
  1,536
  1,657
  1,784
  1,919
  2,062
  2,214
  2,374
Net income, $m
  298
  148
  222
  301
  386
  478
  577
  682
  795
  916
  1,045
  1,302
  1,450
  1,607
  1,774
  1,952
  2,142
  2,343
  2,558
  2,786
  3,028
  3,285
  3,558
  3,847
  4,154
  4,479
  4,824
  5,189
  5,575
  5,985
  6,418

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  673
  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
  16,841
  16,945
  17,762
  18,622
  19,525
  20,476
  21,476
  22,527
  23,631
  24,793
  26,013
  27,296
  28,643
  30,059
  31,547
  33,110
  34,752
  36,476
  38,288
  40,191
  42,190
  44,289
  46,494
  48,809
  51,241
  53,795
  56,477
  59,293
  62,251
  65,357
  68,619
Adjusted assets (=assets-cash), $m
  16,168
  16,945
  17,762
  18,622
  19,525
  20,476
  21,476
  22,527
  23,631
  24,793
  26,013
  27,296
  28,643
  30,059
  31,547
  33,110
  34,752
  36,476
  38,288
  40,191
  42,190
  44,289
  46,494
  48,809
  51,241
  53,795
  56,477
  59,293
  62,251
  65,357
  68,619
Revenue / Adjusted assets
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
  0.443
Average production assets, $m
  8,960
  9,391
  9,844
  10,320
  10,821
  11,348
  11,902
  12,484
  13,096
  13,740
  14,416
  15,127
  15,874
  16,659
  17,483
  18,349
  19,259
  20,215
  21,219
  22,274
  23,381
  24,545
  25,766
  27,050
  28,397
  29,813
  31,299
  32,860
  34,499
  36,221
  38,028
Working capital, $m
  1,581
  991
  1,039
  1,089
  1,142
  1,197
  1,256
  1,317
  1,382
  1,450
  1,521
  1,596
  1,675
  1,758
  1,845
  1,936
  2,032
  2,133
  2,239
  2,350
  2,467
  2,590
  2,719
  2,854
  2,996
  3,146
  3,303
  3,467
  3,640
  3,822
  4,013
Total debt, $m
  3,818
  4,120
  4,484
  4,867
  5,270
  5,694
  6,140
  6,609
  7,102
  7,620
  8,164
  8,736
  9,337
  9,968
  10,632
  11,329
  12,061
  12,830
  13,638
  14,487
  15,379
  16,315
  17,298
  18,331
  19,415
  20,555
  21,751
  23,007
  24,326
  25,711
  27,166
Total liabilities, $m
  7,256
  7,558
  7,922
  8,305
  8,708
  9,132
  9,578
  10,047
  10,540
  11,058
  11,602
  12,174
  12,775
  13,406
  14,070
  14,767
  15,499
  16,268
  17,076
  17,925
  18,817
  19,753
  20,736
  21,769
  22,853
  23,993
  25,189
  26,445
  27,764
  29,149
  30,604
Total equity, $m
  9,585
  9,388
  9,840
  10,316
  10,817
  11,344
  11,898
  12,480
  13,092
  13,735
  14,411
  15,122
  15,868
  16,653
  17,477
  18,343
  19,252
  20,208
  21,212
  22,266
  23,373
  24,536
  25,758
  27,040
  28,388
  29,802
  31,288
  32,849
  34,487
  36,208
  38,015
Total liabilities and equity, $m
  16,841
  16,946
  17,762
  18,621
  19,525
  20,476
  21,476
  22,527
  23,632
  24,793
  26,013
  27,296
  28,643
  30,059
  31,547
  33,110
  34,751
  36,476
  38,288
  40,191
  42,190
  44,289
  46,494
  48,809
  51,241
  53,795
  56,477
  59,294
  62,251
  65,357
  68,619
Debt-to-equity ratio
  0.398
  0.440
  0.460
  0.470
  0.490
  0.500
  0.520
  0.530
  0.540
  0.550
  0.570
  0.580
  0.590
  0.600
  0.610
  0.620
  0.630
  0.630
  0.640
  0.650
  0.660
  0.660
  0.670
  0.680
  0.680
  0.690
  0.700
  0.700
  0.710
  0.710
  0.710
Adjusted equity ratio
  0.551
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554
  0.554

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  298
  148
  222
  301
  386
  478
  577
  682
  795
  916
  1,045
  1,302
  1,450
  1,607
  1,774
  1,952
  2,142
  2,343
  2,558
  2,786
  3,028
  3,285
  3,558
  3,847
  4,154
  4,479
  4,824
  5,189
  5,575
  5,985
  6,418
Depreciation, amort., depletion, $m
  711
  793
  824
  856
  889
  925
  962
  1,001
  1,042
  1,085
  1,131
  1,015
  1,065
  1,118
  1,173
  1,231
  1,293
  1,357
  1,424
  1,495
  1,569
  1,647
  1,729
  1,815
  1,906
  2,001
  2,101
  2,205
  2,315
  2,431
  2,552
Funds from operations, $m
  1,580
  941
  1,046
  1,157
  1,276
  1,403
  1,539
  1,683
  1,837
  2,001
  2,176
  2,318
  2,515
  2,725
  2,947
  3,184
  3,434
  3,700
  3,982
  4,281
  4,597
  4,932
  5,287
  5,662
  6,060
  6,480
  6,924
  7,394
  7,891
  8,416
  8,971
Change in working capital, $m
  314
  45
  48
  50
  53
  56
  58
  61
  65
  68
  71
  75
  79
  83
  87
  91
  96
  101
  106
  111
  117
  123
  129
  135
  142
  149
  157
  165
  173
  182
  191
Cash from operations, $m
  1,266
  896
  998
  1,107
  1,223
  1,347
  1,480
  1,622
  1,773
  1,933
  2,105
  2,243
  2,436
  2,642
  2,860
  3,092
  3,338
  3,599
  3,876
  4,169
  4,480
  4,809
  5,158
  5,527
  5,917
  6,330
  6,767
  7,229
  7,718
  8,234
  8,780
Maintenance CAPEX, $m
  0
  -601
  -630
  -661
  -693
  -726
  -762
  -799
  -838
  -879
  -922
  -968
  -1,015
  -1,065
  -1,118
  -1,173
  -1,231
  -1,293
  -1,357
  -1,424
  -1,495
  -1,569
  -1,647
  -1,729
  -1,815
  -1,906
  -2,001
  -2,101
  -2,205
  -2,315
  -2,431
New CAPEX, $m
  -843
  -432
  -453
  -476
  -501
  -527
  -554
  -582
  -612
  -644
  -676
  -711
  -747
  -785
  -824
  -866
  -910
  -956
  -1,004
  -1,055
  -1,108
  -1,163
  -1,222
  -1,283
  -1,348
  -1,415
  -1,486
  -1,561
  -1,639
  -1,721
  -1,808
Cash from investing activities, $m
  -1,050
  -1,033
  -1,083
  -1,137
  -1,194
  -1,253
  -1,316
  -1,381
  -1,450
  -1,523
  -1,598
  -1,679
  -1,762
  -1,850
  -1,942
  -2,039
  -2,141
  -2,249
  -2,361
  -2,479
  -2,603
  -2,732
  -2,869
  -3,012
  -3,163
  -3,321
  -3,487
  -3,662
  -3,844
  -4,036
  -4,239
Free cash flow, $m
  216
  -137
  -85
  -30
  29
  94
  164
  240
  322
  411
  506
  564
  674
  792
  918
  1,053
  1,197
  1,351
  1,515
  1,691
  1,878
  2,077
  2,289
  2,514
  2,754
  3,009
  3,280
  3,568
  3,873
  4,197
  4,541
Issuance/(repayment) of debt, $m
  -432
  341
  364
  383
  403
  424
  446
  469
  493
  518
  544
  572
  601
  632
  664
  697
  732
  769
  808
  849
  891
  936
  983
  1,033
  1,085
  1,139
  1,196
  1,256
  1,319
  1,385
  1,455
Issuance/(repurchase) of shares, $m
  -75
  289
  231
  175
  114
  48
  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  
  -504
  630
  595
  558
  517
  472
  446
  469
  493
  518
  544
  572
  601
  632
  664
  697
  732
  769
  808
  849
  891
  936
  983
  1,033
  1,085
  1,139
  1,196
  1,256
  1,319
  1,385
  1,455
Total cash flow (excl. dividends), $m
  -218
  493
  510
  528
  547
  567
  610
  709
  815
  929
  1,050
  1,136
  1,275
  1,423
  1,581
  1,750
  1,929
  2,120
  2,323
  2,539
  2,769
  3,013
  3,272
  3,547
  3,839
  4,148
  4,476
  4,824
  5,193
  5,583
  5,996
Retained Cash Flow (-), $m
  -53
  -437
  -452
  -476
  -501
  -527
  -554
  -582
  -612
  -643
  -676
  -711
  -747
  -784
  -824
  -866
  -910
  -955
  -1,004
  -1,054
  -1,107
  -1,163
  -1,221
  -1,283
  -1,347
  -1,415
  -1,486
  -1,560
  -1,639
  -1,721
  -1,807
Prev. year cash balance distribution, $m
 
  634
  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
 
  690
  57
  52
  46
  40
  57
  127
  203
  285
  374
  426
  528
  639
  757
  884
  1,019
  1,165
  1,320
  1,485
  1,662
  1,850
  2,051
  2,264
  2,492
  2,733
  2,990
  3,264
  3,554
  3,862
  4,189
Discount rate, %
 
  5.50
  5.78
  6.06
  6.37
  6.69
  7.02
  7.37
  7.74
  8.13
  8.53
  8.96
  9.41
  9.88
  10.37
  10.89
  11.43
  12.01
  12.61
  13.24
  13.90
  14.59
  15.32
  16.09
  16.89
  17.74
  18.62
  19.56
  20.53
  21.56
  22.64
PV of cash for distribution, $m
 
  654
  51
  43
  36
  29
  38
  77
  112
  141
  165
  166
  180
  188
  190
  187
  180
  169
  156
  140
  123
  106
  89
  73
  59
  46
  35
  26
  19
  13
  9
Current shareholders' claim on cash, %
  100
  96.1
  93.2
  91.1
  89.9
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4
  89.4

The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. The Company operates through three segments: Phosphates, Potash and International Distribution. The Company is a supplier of phosphate- and potash-based crop nutrients and animal feed ingredients. The Phosphates segment owns and operates mines and production facilities in Florida, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana, which produce concentrated phosphate crop nutrients. The Potash segment mines and processes potash in Canada and the United States, and sells potash in North America and internationally. The International Distribution segment markets phosphate-, potash- and nitrogen-based crop nutrients and animal feed ingredients, and provides other ancillary services to wholesalers, cooperatives, independent retailers and farmers in South America and the Asia-Pacific regions.

FINANCIAL RATIOS  of  Mosaic (MOS)

Valuation Ratios
P/E Ratio 25.2
Price to Sales 1
Price to Book 0.8
Price to Tangible Book
Price to Cash Flow 5.9
Price to Free Cash Flow 17.7
Growth Rates
Sales Growth Rate -19.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -15.7%
Cap. Spend. - 3 Yr. Gr. Rate 1.1%
Financial Strength
Quick Ratio 17
Current Ratio 0.1
LT Debt to Equity 39.4%
Total Debt to Equity 39.8%
Interest Coverage 3
Management Effectiveness
Return On Assets 2.7%
Ret/ On Assets - 3 Yr. Avg. 5%
Return On Total Capital 2.2%
Ret/ On T. Cap. - 3 Yr. Avg. 5.5%
Return On Equity 3.1%
Return On Equity - 3 Yr. Avg. 7.5%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 11.3%
Gross Margin - 3 Yr. Avg. 17.3%
EBITDA Margin 15%
EBITDA Margin - 3 Yr. Avg. 20.1%
Operating Margin 4.5%
Oper. Margin - 3 Yr. Avg. 11.1%
Pre-Tax Margin 3.4%
Pre-Tax Margin - 3 Yr. Avg. 9.7%
Net Profit Margin 4.2%
Net Profit Margin - 3 Yr. Avg. 8.9%
Effective Tax Rate -31%
Eff/ Tax Rate - 3 Yr. Avg. -2.3%
Payout Ratio 129.2%

MOS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MOS stock intrinsic value calculation we used $7163 million for the last fiscal year's total revenue generated by Mosaic. The default revenue input number comes from 2016 income statement of Mosaic. 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 MOS stock valuation model: a) initial revenue growth rate of 4.8% 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 5.5%, whose default value for MOS is calculated based on our internal credit rating of Mosaic, 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 Mosaic.
    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 MOS stock the variable cost ratio is equal to 44.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3738 million in the base year in the intrinsic value calculation for MOS 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 Mosaic.

Corporate tax rate of 27% is the nominal tax rate for Mosaic. 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 MOS 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 MOS are equal to 125.1%.

Life of production assets of 14.9 years is the average useful life of capital assets used in Mosaic 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 MOS is equal to 13.2%. 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 - $9585 million for Mosaic - 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 353.952 million for Mosaic 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 Mosaic at the current share price and the inputted number of shares is $7.6 billion.

RELATED COMPANIES Price Int.Val. Rating
POT Potash of Sask 19.27 2.40  str.sell
AGU Agrium 107.65 52.79  sell
IPI Intrepid Potas 3.78 0.69  str.sell
VALE Vale ADR 10.28 1.75  str.sell
CF CF Industries 36.99 36.87  buy

COMPANY NEWS

▶ Analyzing the MAP Prices in Brazil Last Week   [Oct-19-17 09:09AM  Market Realist]
▶ India Expects Fertilizer Consumption to Rise in 2017   [Oct-16-17 10:39AM  Market Realist]
▶ Hows the Fertilizer Market in China?   [09:09AM  Market Realist]
▶ Fertilizer Affordability Index Update for October 6   [Oct-11-17 07:38AM  Market Realist]
▶ MAP Prices in Brazil Moved Higher Last Week   [Oct-10-17 09:12AM  Market Realist]
▶ Fertilizer Affordability for the Week Ending September 29   [Oct-04-17 07:40AM  Market Realist]
▶ IIROC Trade Resumption - MOS   [Oct-03-17 02:42PM  PR Newswire]
▶ IIROC Trade Resumption - MOS   [02:42PM  CNW Group]
▶ IIROC Trading Halt - MOS   [Oct-02-17 04:27PM  PR Newswire]
▶ IIROC Trading Halt - MOS   [04:27PM  CNW Group]
▶ ETFs with exposure to The Mosaic Co. : September 22, 2017   [Sep-22-17 11:14AM  Capital Cube]
▶ Why Are Fertilizers Becoming Less Affordable?   [07:36AM  Market Realist]
▶ The Mosaic Company Business Update   [Sep-20-17 04:15PM  PR Newswire]
▶ What Do Analysts Recommend for Mosaic?   [07:39AM  Market Realist]
▶ Agriums Analyst Rating Update for September 2017   [Sep-19-17 03:36PM  Market Realist]
▶ US and Global Markets in Green Monday   [Sep-18-17 12:47PM  GuruFocus.com]
▶ Here's Why Mosaic Co Dropped 12.7% in August   [Sep-08-17 08:18AM  Motley Fool]
▶ Analyzing MAP Prices for the Week Ending September 1   [Sep-07-17 09:07AM  Market Realist]
▶ DAP Prices for the Week Ending September 1   [07:36AM  Market Realist]
▶ The Potash Capacity and Demand Landscape for 2017 and Beyond   [Sep-04-17 07:36AM  Market Realist]
▶ Analysts Views on CF Industries after 2Q17 Earnings   [Aug-22-17 09:07AM  Market Realist]
▶ Why Potash Prices Rose for Fertilizer Companies in 2Q17   [Aug-18-17 10:37AM  Market Realist]
▶ Mosaic Announces Quarterly Dividend Of $0.15 Per Share   [Aug-17-17 04:15PM  PR Newswire]
▶ Fertilizer Became Less Affordable Last Week   [07:36AM  Market Realist]
▶ DAP Price Movements for the Week Ended August 11   [Aug-16-17 07:36AM  Market Realist]
▶ 3 S&P 500 Laggards Flashing Short Sale Signals   [Aug-09-17 10:55AM  Investopedia]
▶ How Did Fertilizer Affordability Trend Last Week?   [Aug-03-17 07:37AM  Market Realist]
▶ Potash Prices Held Stable in the Week Ending July 28   [Aug-02-17 10:38AM  Market Realist]
▶ Mosaic beats 2Q profit forecasts   [Aug-01-17 09:32PM  Associated Press]
▶ Big movers in the blitz   [01:26PM  CNBC Videos]
▶ How Is CF Industries Valued prior to Its 2Q17 Earnings?   [Jul-26-17 10:37AM  Market Realist]
▶ ETFs with exposure to The Mosaic Co. : July 24, 2017   [Jul-24-17 05:22PM  Capital Cube]
▶ Why Mosaics Gross Margins Could Expand in 2Q17   [Jul-21-17 09:14AM  Market Realist]
▶ Mosaics Upcoming 2Q17 Earnings: What You Need to Know   [Jul-20-17 05:19PM  Market Realist]
▶ ETFs with exposure to The Mosaic Co. : July 14, 2017   [Jul-14-17 03:39PM  Capital Cube]
▶ Whats Happening with DAP Prices as of July 7?   [Jul-11-17 07:37AM  Market Realist]
▶ A Look at Chinas Fertilizer Imports   [Jul-07-17 06:06PM  Market Realist]
▶ The Mosaic Co. Value Analysis (NYSE:MOS) : July 5, 2017   [Jul-05-17 01:43PM  Capital Cube]
▶ Potash Prices Stay Firm for the Week Ended June 30   [Jul-04-17 10:37AM  Market Realist]
▶ How MAP Prices in Brazil Performed Last Week   [09:08AM  Market Realist]
▶ DAP Price Movements for the Week Ending June 23   [Jun-26-17 02:05PM  Market Realist]
▶ Why Did MAP Prices Continue to Trend Lower Last Week?   [Jun-21-17 09:06AM  Market Realist]
▶ Corn Prices Have Risen This June on Lower Inventory   [Jun-15-17 04:35PM  Market Realist]
▶ Potash Prices Continued to Move Sideways Last Week   [Jun-13-17 07:36AM  Market Realist]
▶ What Analysts Recommend for Agrium in June 2017   [Jun-12-17 01:40PM  Market Realist]
▶ What Fertilizer Capacity Expansion Means for Prices   [Jun-07-17 01:35PM  Market Realist]
Financial statements of MOS
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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