Intrinsic value of Nike Cl B - NKE

Previous Close

$61.91

  Intrinsic Value

$32.18

stock screener

  Rating & Target

sell

-48%

Previous close

$61.91

 
Intrinsic value

$32.18

 
Up/down potential

-48%

 
Rating

sell

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

We calculate the intrinsic value of NKE 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 101.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   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, %
  6.10
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  34,350
  35,037
  35,843
  36,764
  37,798
  38,944
  40,201
  41,571
  43,053
  44,649
  46,363
  48,196
  50,152
  52,235
  54,448
  56,797
  59,286
  61,921
  64,707
  67,651
  70,759
  74,039
  77,498
  81,144
  84,985
  89,031
  93,291
  97,775
  102,493
  107,457
  112,678
Variable operating expenses, $m
 
  30,167
  30,860
  31,653
  32,543
  33,529
  34,611
  35,789
  37,065
  38,439
  39,913
  41,477
  43,161
  44,953
  46,858
  48,879
  51,021
  53,289
  55,686
  58,220
  60,895
  63,718
  66,694
  69,832
  73,138
  76,620
  80,286
  84,144
  88,205
  92,477
  96,970
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
  29,601
  30,167
  30,860
  31,653
  32,543
  33,529
  34,611
  35,789
  37,065
  38,439
  39,913
  41,477
  43,161
  44,953
  46,858
  48,879
  51,021
  53,289
  55,686
  58,220
  60,895
  63,718
  66,694
  69,832
  73,138
  76,620
  80,286
  84,144
  88,205
  92,477
  96,970
Operating income, $m
  4,749
  4,870
  4,983
  5,111
  5,255
  5,415
  5,590
  5,781
  5,988
  6,210
  6,449
  6,719
  6,991
  7,282
  7,590
  7,918
  8,265
  8,632
  9,020
  9,431
  9,864
  10,321
  10,804
  11,312
  11,847
  12,411
  13,005
  13,630
  14,288
  14,980
  15,708
EBITDA, $m
  5,465
  5,347
  5,470
  5,610
  5,768
  5,943
  6,135
  6,344
  6,570
  6,814
  7,075
  7,355
  7,653
  7,971
  8,309
  8,667
  9,047
  9,449
  9,875
  10,324
  10,798
  11,299
  11,827
  12,383
  12,969
  13,587
  14,237
  14,921
  15,641
  16,398
  17,195
Interest expense (income), $m
  98
  121
  129
  138
  147
  158
  171
  184
  199
  215
  232
  250
  270
  291
  313
  337
  362
  389
  417
  447
  479
  512
  547
  584
  623
  664
  708
  753
  801
  852
  905
Earnings before tax, $m
  4,886
  4,749
  4,854
  4,974
  5,108
  5,257
  5,420
  5,597
  5,789
  5,996
  6,217
  6,468
  6,721
  6,991
  7,277
  7,581
  7,903
  8,243
  8,603
  8,984
  9,386
  9,810
  10,257
  10,728
  11,224
  11,747
  12,297
  12,877
  13,486
  14,128
  14,802
Tax expense, $m
  646
  1,282
  1,311
  1,343
  1,379
  1,419
  1,463
  1,511
  1,563
  1,619
  1,679
  1,746
  1,815
  1,888
  1,965
  2,047
  2,134
  2,226
  2,323
  2,426
  2,534
  2,649
  2,769
  2,896
  3,031
  3,172
  3,320
  3,477
  3,641
  3,815
  3,997
Net income, $m
  4,240
  3,467
  3,543
  3,631
  3,729
  3,837
  3,956
  4,086
  4,226
  4,377
  4,539
  4,722
  4,907
  5,103
  5,312
  5,534
  5,769
  6,018
  6,280
  6,558
  6,852
  7,161
  7,487
  7,831
  8,194
  8,575
  8,977
  9,400
  9,845
  10,313
  10,806

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  6,179
  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
  23,259
  17,423
  17,823
  18,281
  18,796
  19,366
  19,991
  20,672
  21,409
  22,203
  23,055
  23,966
  24,939
  25,974
  27,075
  28,243
  29,481
  30,791
  32,176
  33,640
  35,186
  36,817
  38,537
  40,350
  42,260
  44,272
  46,390
  48,620
  50,966
  53,434
  56,031
Adjusted assets (=assets-cash), $m
  17,080
  17,423
  17,823
  18,281
  18,796
  19,366
  19,991
  20,672
  21,409
  22,203
  23,055
  23,966
  24,939
  25,974
  27,075
  28,243
  29,481
  30,791
  32,176
  33,640
  35,186
  36,817
  38,537
  40,350
  42,260
  44,272
  46,390
  48,620
  50,966
  53,434
  56,031
Revenue / Adjusted assets
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
  2.011
Average production assets, $m
  2,277
  2,312
  2,366
  2,426
  2,495
  2,570
  2,653
  2,744
  2,841
  2,947
  3,060
  3,181
  3,310
  3,447
  3,594
  3,749
  3,913
  4,087
  4,271
  4,465
  4,670
  4,887
  5,115
  5,355
  5,609
  5,876
  6,157
  6,453
  6,765
  7,092
  7,437
Working capital, $m
  10,587
  4,835
  4,946
  5,073
  5,216
  5,374
  5,548
  5,737
  5,941
  6,162
  6,398
  6,651
  6,921
  7,208
  7,514
  7,838
  8,181
  8,545
  8,930
  9,336
  9,765
  10,217
  10,695
  11,198
  11,728
  12,286
  12,874
  13,493
  14,144
  14,829
  15,550
Total debt, $m
  3,802
  3,682
  3,929
  4,211
  4,528
  4,879
  5,264
  5,684
  6,138
  6,627
  7,152
  7,713
  8,312
  8,950
  9,628
  10,348
  11,110
  11,917
  12,771
  13,672
  14,625
  15,629
  16,689
  17,806
  18,982
  20,222
  21,526
  22,900
  24,345
  25,866
  27,465
Total liabilities, $m
  10,852
  10,732
  10,979
  11,261
  11,578
  11,929
  12,314
  12,734
  13,188
  13,677
  14,202
  14,763
  15,362
  16,000
  16,678
  17,398
  18,160
  18,967
  19,821
  20,722
  21,675
  22,679
  23,739
  24,856
  26,032
  27,272
  28,576
  29,950
  31,395
  32,916
  34,515
Total equity, $m
  12,407
  6,690
  6,844
  7,020
  7,218
  7,436
  7,676
  7,938
  8,221
  8,526
  8,853
  9,203
  9,577
  9,974
  10,397
  10,845
  11,321
  11,824
  12,356
  12,918
  13,511
  14,138
  14,798
  15,494
  16,228
  17,000
  17,814
  18,670
  19,571
  20,519
  21,516
Total liabilities and equity, $m
  23,259
  17,422
  17,823
  18,281
  18,796
  19,365
  19,990
  20,672
  21,409
  22,203
  23,055
  23,966
  24,939
  25,974
  27,075
  28,243
  29,481
  30,791
  32,177
  33,640
  35,186
  36,817
  38,537
  40,350
  42,260
  44,272
  46,390
  48,620
  50,966
  53,435
  56,031
Debt-to-equity ratio
  0.306
  0.550
  0.570
  0.600
  0.630
  0.660
  0.690
  0.720
  0.750
  0.780
  0.810
  0.840
  0.870
  0.900
  0.930
  0.950
  0.980
  1.010
  1.030
  1.060
  1.080
  1.110
  1.130
  1.150
  1.170
  1.190
  1.210
  1.230
  1.240
  1.260
  1.280
Adjusted equity ratio
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384
  0.384

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  4,240
  3,467
  3,543
  3,631
  3,729
  3,837
  3,956
  4,086
  4,226
  4,377
  4,539
  4,722
  4,907
  5,103
  5,312
  5,534
  5,769
  6,018
  6,280
  6,558
  6,852
  7,161
  7,487
  7,831
  8,194
  8,575
  8,977
  9,400
  9,845
  10,313
  10,806
Depreciation, amort., depletion, $m
  716
  476
  487
  499
  513
  528
  545
  563
  582
  603
  626
  636
  662
  689
  719
  750
  783
  817
  854
  893
  934
  977
  1,023
  1,071
  1,122
  1,175
  1,231
  1,291
  1,353
  1,418
  1,487
Funds from operations, $m
  2,499
  3,943
  4,030
  4,130
  4,242
  4,365
  4,501
  4,648
  4,808
  4,980
  5,165
  5,358
  5,569
  5,793
  6,031
  6,284
  6,551
  6,835
  7,135
  7,451
  7,786
  8,138
  8,510
  8,902
  9,315
  9,751
  10,209
  10,691
  11,198
  11,732
  12,293
Change in working capital, $m
  -1,141
  95
  111
  127
  143
  158
  174
  189
  205
  220
  236
  253
  270
  287
  305
  324
  343
  364
  384
  406
  429
  453
  477
  503
  530
  558
  588
  619
  651
  685
  720
Cash from operations, $m
  3,640
  3,848
  3,919
  4,003
  4,099
  4,207
  4,327
  4,459
  4,604
  4,760
  4,928
  5,105
  5,299
  5,505
  5,726
  5,960
  6,208
  6,471
  6,750
  7,045
  7,357
  7,686
  8,033
  8,399
  8,785
  9,192
  9,621
  10,072
  10,547
  11,047
  11,573
Maintenance CAPEX, $m
  0
  -455
  -462
  -473
  -485
  -499
  -514
  -531
  -549
  -568
  -589
  -612
  -636
  -662
  -689
  -719
  -750
  -783
  -817
  -854
  -893
  -934
  -977
  -1,023
  -1,071
  -1,122
  -1,175
  -1,231
  -1,291
  -1,353
  -1,418
New CAPEX, $m
  -1,105
  -36
  -53
  -61
  -68
  -76
  -83
  -90
  -98
  -105
  -113
  -121
  -129
  -137
  -146
  -155
  -164
  -174
  -184
  -194
  -205
  -216
  -228
  -241
  -254
  -267
  -281
  -296
  -311
  -328
  -345
Cash from investing activities, $m
  -1,008
  -491
  -515
  -534
  -553
  -575
  -597
  -621
  -647
  -673
  -702
  -733
  -765
  -799
  -835
  -874
  -914
  -957
  -1,001
  -1,048
  -1,098
  -1,150
  -1,205
  -1,264
  -1,325
  -1,389
  -1,456
  -1,527
  -1,602
  -1,681
  -1,763
Free cash flow, $m
  2,632
  3,357
  3,403
  3,469
  3,545
  3,633
  3,730
  3,838
  3,957
  4,086
  4,226
  4,372
  4,533
  4,706
  4,890
  5,086
  5,294
  5,515
  5,749
  5,997
  6,258
  6,535
  6,827
  7,136
  7,461
  7,803
  8,164
  8,545
  8,945
  9,366
  9,810
Issuance/(repayment) of debt, $m
  1,748
  211
  247
  282
  317
  351
  385
  419
  454
  489
  525
  562
  599
  638
  678
  719
  762
  807
  853
  902
  952
  1,005
  1,060
  1,117
  1,177
  1,239
  1,305
  1,373
  1,445
  1,520
  1,599
Issuance/(repurchase) of shares, $m
  -2,734
  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  
  -809
  211
  247
  282
  317
  351
  385
  419
  454
  489
  525
  562
  599
  638
  678
  719
  762
  807
  853
  902
  952
  1,005
  1,060
  1,117
  1,177
  1,239
  1,305
  1,373
  1,445
  1,520
  1,599
Total cash flow (excl. dividends), $m
  1,803
  3,568
  3,650
  3,751
  3,862
  3,984
  4,115
  4,258
  4,411
  4,575
  4,751
  4,934
  5,133
  5,344
  5,568
  5,805
  6,056
  6,322
  6,602
  6,898
  7,211
  7,540
  7,887
  8,252
  8,637
  9,043
  9,469
  9,918
  10,390
  10,887
  11,409
Retained Cash Flow (-), $m
  -149
  -131
  -154
  -176
  -197
  -219
  -240
  -261
  -283
  -305
  -327
  -350
  -374
  -398
  -423
  -448
  -475
  -503
  -532
  -562
  -594
  -626
  -660
  -696
  -734
  -773
  -813
  -856
  -901
  -948
  -997
Prev. year cash balance distribution, $m
 
  5,848
  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
 
  9,285
  3,496
  3,575
  3,665
  3,765
  3,875
  3,996
  4,128
  4,270
  4,423
  4,584
  4,759
  4,946
  5,145
  5,357
  5,581
  5,819
  6,070
  6,336
  6,617
  6,914
  7,226
  7,556
  7,904
  8,270
  8,656
  9,062
  9,489
  9,939
  10,412
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
 
  8,902
  3,201
  3,111
  3,017
  2,918
  2,813
  2,700
  2,580
  2,453
  2,319
  2,177
  2,031
  1,881
  1,727
  1,573
  1,418
  1,266
  1,118
  976
  841
  715
  600
  495
  403
  322
  253
  194
  147
  108
  78
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

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company's operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse. As of May 31, 2016, the Company focused its NIKE brand product offerings in nine categories: Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Men's Training, Women's Training, Action Sports, Sportswear (its sports-inspired lifestyle products) and Golf. Men's Training includes its baseball and American football product offerings. It also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Company sells a range of performance equipment and accessories under the NIKE Brand name.

FINANCIAL RATIOS  of  Nike Cl B (NKE)

Valuation Ratios
P/E Ratio 24
Price to Sales 3
Price to Book 8.2
Price to Tangible Book
Price to Cash Flow 27.9
Price to Free Cash Flow 40.1
Growth Rates
Sales Growth Rate 6.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.3%
Cap. Spend. - 3 Yr. Gr. Rate 4.7%
Financial Strength
Quick Ratio 19
Current Ratio 0
LT Debt to Equity 28%
Total Debt to Equity 30.6%
Interest Coverage 51
Management Effectiveness
Return On Assets 19.4%
Ret/ On Assets - 3 Yr. Avg. 17.9%
Return On Total Capital 27.8%
Ret/ On T. Cap. - 3 Yr. Avg. 26.5%
Return On Equity 34.4%
Return On Equity - 3 Yr. Avg. 30.8%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 44.6%
Gross Margin - 3 Yr. Avg. 45.6%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 16.4%
Operating Margin 13.8%
Oper. Margin - 3 Yr. Avg. 13.8%
Pre-Tax Margin 14.2%
Pre-Tax Margin - 3 Yr. Avg. 14.1%
Net Profit Margin 12.3%
Net Profit Margin - 3 Yr. Avg. 11.6%
Effective Tax Rate 13.2%
Eff/ Tax Rate - 3 Yr. Avg. 18%
Payout Ratio 26.7%

NKE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NKE stock intrinsic value calculation we used $34350 million for the last fiscal year's total revenue generated by Nike Cl B. The default revenue input number comes from 2017 income statement of Nike Cl B. 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 NKE stock valuation model: a) initial revenue growth rate of 2% 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 NKE is calculated based on our internal credit rating of Nike Cl B, 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 Nike Cl B.
    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 NKE stock the variable cost ratio is equal to 86.1%.

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 NKE 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 Nike Cl B.

Corporate tax rate of 27% is the nominal tax rate for Nike Cl B. 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 NKE 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 NKE are equal to 6.6%.

Life of production assets of 3.4 years is the average useful life of capital assets used in Nike Cl B 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 NKE is equal to 13.8%. 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 - $12407 million for Nike Cl B - 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 1631.55 million for Nike Cl B 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 Nike Cl B at the current share price and the inputted number of shares is $101.0 billion.

RELATED COMPANIES Price Int.Val. Rating
DECK Deckers Outdoo 77.04 11.72  str.sell
SKX Skechers USA C 36.44 39.40  hold
RL Ralph Lauren C 101.19 31.31  str.sell
UA Under Armour C 12.18 12.10  sell
VFC VF 72.60 48.82  sell

COMPANY NEWS

▶ How to Trade Nike Inc Stock As It Runs Higher   [Dec-12-17 10:13AM  InvestorPlace]
▶ Lululemon Outperforms Expectations Once Again in 3Q17   [Dec-11-17 03:19PM  Market Realist]
▶ 3 Stocks You Can Safely Own Until 2030   [08:11AM  Motley Fool]
▶ Dow 25,000 by year-end, 'nuff said: NYSE trader   [Dec-08-17 01:11PM  Yahoo Finance Video]
▶ 10 Stocks That Outperform in December   [Dec-07-17 01:00PM  Investopedia]
▶ Nike: The Race Isn't Over Yet   [09:54AM  Barrons.com]
▶ Glassdoor CEO: Here's how to get the highest salary possible   [Dec-06-17 04:23PM  Yahoo Finance Video]
▶ Will Nike Raise Its Dividend in 2018?   [Dec-05-17 07:32PM  Motley Fool]
▶ 5 Stocks That Are Still Cheap in This Market   [03:30PM  InvestorPlace]
▶ 3 Stocks That Look Just Like Nike in 1980   [07:03AM  Motley Fool]
▶ Adidas expects big boost from soccer World Cup   [Dec-02-17 08:16AM  Reuters]
▶ Why Under Armour Could Fall 65%   [06:00AM  Investopedia]
▶ Adidas files for review of Nike patent for FlyKnit technology   [03:00PM  American City Business Journals]
▶ Tiger's latest comeback   [01:26PM  CNBC Videos]
▶ "Fast Money" final trades: ETFC, NKE and more   [Nov-29-17 05:59PM  CNBC Videos]
▶ What's working in retail: Dollar stores   [07:46AM  CNBC Videos]
▶ Nike cut to "hold" at HSBC   [01:27PM  CNBC Videos]
▶ 5 Key Takeaways From Kohl's Earnings Call   [Nov-27-17 07:47PM  Motley Fool]
▶ The 9 Best Stocks to Buy on the Dip   [02:55PM  InvestorPlace]
▶ 17 Highest Paid CEOs in the World in 2017   [09:51AM  Insider Monkey]
▶ NIKE Inc (NKE): Poised For Long-Term Success?   [Nov-23-17 10:51AM  Simply Wall St.]
▶ Wasserman golfer signs with PXG, Nike, Titleist   [Nov-22-17 09:25AM  American City Business Journals]
▶ Nike Stock Could Enter New Bull Market   [09:22AM  Investopedia]
▶ Your Evening Briefing   [12:36PM  Bloomberg]
▶ Top 15 Online Shopping Sites in America   [09:00AM  Insider Monkey]
▶ Even Adidas watches Netflix   [08:07AM  MarketWatch]
▶ The Hot Stock: The Foot Locker Two Step   [Nov-17-17 05:29PM  Barrons.com]
▶ Why Shares of Foot Locker Jumped Today   [02:06PM  Motley Fool]
Financial statements of NKE
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.