Intrinsic value of Nomad Foods - NOMD

Previous Close

$19.34

  Intrinsic Value

$47.54

stock screener

  Rating & Target

str. buy

+146%

Previous close

$19.34

 
Intrinsic value

$47.54

 
Up/down potential

+146%

 
Rating

str. buy

We calculate the intrinsic value of NOMD 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 0001), $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 3.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  15.80
  14.72
  13.75
  12.87
  12.09
  11.38
  10.74
  10.17
  9.65
  9.18
  8.77
  8.39
  8.05
  7.75
  7.47
  7.22
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
Revenue, $m
  2,720
  3,120
  3,549
  4,006
  4,490
  5,001
  5,538
  6,101
  6,690
  7,305
  7,945
  8,611
  9,305
  10,025
  10,774
  11,553
  12,362
  13,202
  14,076
  14,986
  15,932
  16,916
  17,942
  19,011
  20,125
  21,288
  22,501
  23,767
  25,090
  26,472
Variable operating expenses, $m
  2,233
  2,500
  2,786
  3,091
  3,415
  3,756
  4,114
  4,490
  4,883
  5,294
  5,304
  5,749
  6,212
  6,693
  7,194
  7,713
  8,253
  8,814
  9,398
  10,005
  10,637
  11,294
  11,979
  12,693
  13,437
  14,213
  15,023
  15,868
  16,751
  17,674
Fixed operating expenses, $m
  29
  29
  30
  31
  31
  32
  33
  33
  34
  35
  36
  36
  37
  38
  39
  40
  41
  41
  42
  43
  44
  45
  46
  47
  48
  49
  50
  51
  53
  54
Total operating expenses, $m
  2,262
  2,529
  2,816
  3,122
  3,446
  3,788
  4,147
  4,523
  4,917
  5,329
  5,340
  5,785
  6,249
  6,731
  7,233
  7,753
  8,294
  8,855
  9,440
  10,048
  10,681
  11,339
  12,025
  12,740
  13,485
  14,262
  15,073
  15,919
  16,804
  17,728
Operating income, $m
  459
  591
  733
  884
  1,045
  1,214
  1,392
  1,578
  1,773
  1,976
  2,605
  2,826
  3,055
  3,294
  3,542
  3,800
  4,068
  4,346
  4,636
  4,937
  5,251
  5,577
  5,917
  6,271
  6,640
  7,026
  7,428
  7,847
  8,286
  8,744
EBITDA, $m
  1,406
  1,616
  1,842
  2,082
  2,337
  2,606
  2,888
  3,184
  3,494
  3,817
  4,154
  4,505
  4,870
  5,249
  5,643
  6,053
  6,478
  6,921
  7,381
  7,859
  8,357
  8,876
  9,416
  9,978
  10,565
  11,177
  11,815
  12,482
  13,178
  13,906
Interest expense (income), $m
  0
  102
  134
  168
  205
  244
  286
  330
  376
  424
  474
  527
  582
  639
  698
  760
  824
  891
  960
  1,032
  1,107
  1,185
  1,266
  1,351
  1,438
  1,530
  1,626
  1,725
  1,829
  1,938
  2,051
Earnings before tax, $m
  356
  457
  565
  679
  800
  928
  1,062
  1,202
  1,349
  1,502
  2,078
  2,244
  2,416
  2,596
  2,782
  2,976
  3,177
  3,386
  3,604
  3,830
  4,065
  4,311
  4,566
  4,833
  5,110
  5,400
  5,702
  6,018
  6,348
  6,693
Tax expense, $m
  96
  123
  152
  183
  216
  251
  287
  325
  364
  406
  561
  606
  652
  701
  751
  803
  858
  914
  973
  1,034
  1,098
  1,164
  1,233
  1,305
  1,380
  1,458
  1,540
  1,625
  1,714
  1,807
Net income, $m
  260
  334
  412
  496
  584
  677
  775
  878
  985
  1,096
  1,517
  1,638
  1,764
  1,895
  2,031
  2,172
  2,319
  2,472
  2,631
  2,796
  2,968
  3,147
  3,333
  3,528
  3,731
  3,942
  4,163
  4,393
  4,634
  4,886

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
  6,400
  7,342
  8,351
  9,426
  10,566
  11,768
  13,032
  14,356
  15,742
  17,187
  18,694
  20,262
  21,893
  23,589
  25,351
  27,183
  29,086
  31,064
  33,121
  35,260
  37,486
  39,803
  42,217
  44,732
  47,354
  50,089
  52,942
  55,922
  59,034
  62,286
Adjusted assets (=assets-cash), $m
  6,400
  7,342
  8,351
  9,426
  10,566
  11,768
  13,032
  14,356
  15,742
  17,187
  18,694
  20,262
  21,893
  23,589
  25,351
  27,183
  29,086
  31,064
  33,121
  35,260
  37,486
  39,803
  42,217
  44,732
  47,354
  50,089
  52,942
  55,922
  59,034
  62,286
Revenue / Adjusted assets
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
  0.425
Average production assets, $m
  2,652
  3,042
  3,461
  3,906
  4,378
  4,876
  5,400
  5,949
  6,523
  7,122
  7,746
  8,396
  9,072
  9,775
  10,505
  11,264
  12,052
  12,872
  13,724
  14,611
  15,533
  16,494
  17,494
  18,536
  19,622
  20,755
  21,938
  23,173
  24,462
  25,810
Working capital, $m
  -234
  -268
  -305
  -345
  -386
  -430
  -476
  -525
  -575
  -628
  -683
  -741
  -800
  -862
  -927
  -994
  -1,063
  -1,135
  -1,211
  -1,289
  -1,370
  -1,455
  -1,543
  -1,635
  -1,731
  -1,831
  -1,935
  -2,044
  -2,158
  -2,277
Total debt, $m
  2,199
  2,762
  3,364
  4,006
  4,686
  5,404
  6,158
  6,949
  7,776
  8,639
  9,539
  10,475
  11,449
  12,461
  13,513
  14,607
  15,743
  16,924
  18,152
  19,429
  20,758
  22,141
  23,582
  25,083
  26,649
  28,281
  29,985
  31,764
  33,622
  35,563
Total liabilities, $m
  3,821
  4,383
  4,986
  5,628
  6,308
  7,025
  7,780
  8,571
  9,398
  10,261
  11,160
  12,097
  13,070
  14,083
  15,135
  16,228
  17,364
  18,545
  19,773
  21,050
  22,379
  23,763
  25,203
  26,705
  28,270
  29,903
  31,607
  33,385
  35,243
  37,185
Total equity, $m
  2,579
  2,959
  3,366
  3,799
  4,258
  4,742
  5,252
  5,786
  6,344
  6,927
  7,534
  8,166
  8,823
  9,506
  10,217
  10,955
  11,722
  12,519
  13,348
  14,210
  15,107
  16,041
  17,013
  18,027
  19,084
  20,186
  21,336
  22,537
  23,791
  25,101
Total liabilities and equity, $m
  6,400
  7,342
  8,352
  9,427
  10,566
  11,767
  13,032
  14,357
  15,742
  17,188
  18,694
  20,263
  21,893
  23,589
  25,352
  27,183
  29,086
  31,064
  33,121
  35,260
  37,486
  39,804
  42,216
  44,732
  47,354
  50,089
  52,943
  55,922
  59,034
  62,286
Debt-to-equity ratio
  0.850
  0.930
  1.000
  1.050
  1.100
  1.140
  1.170
  1.200
  1.230
  1.250
  1.270
  1.280
  1.300
  1.310
  1.320
  1.330
  1.340
  1.350
  1.360
  1.370
  1.370
  1.380
  1.390
  1.390
  1.400
  1.400
  1.410
  1.410
  1.410
  1.420
Adjusted equity ratio
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403
  0.403

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  260
  334
  412
  496
  584
  677
  775
  878
  985
  1,096
  1,517
  1,638
  1,764
  1,895
  2,031
  2,172
  2,319
  2,472
  2,631
  2,796
  2,968
  3,147
  3,333
  3,528
  3,731
  3,942
  4,163
  4,393
  4,634
  4,886
Depreciation, amort., depletion, $m
  947
  1,025
  1,109
  1,198
  1,292
  1,392
  1,497
  1,606
  1,721
  1,841
  1,549
  1,679
  1,814
  1,955
  2,101
  2,253
  2,410
  2,574
  2,745
  2,922
  3,107
  3,299
  3,499
  3,707
  3,924
  4,151
  4,388
  4,635
  4,892
  5,162
Funds from operations, $m
  1,207
  1,359
  1,521
  1,694
  1,876
  2,069
  2,272
  2,484
  2,706
  2,937
  3,066
  3,317
  3,578
  3,850
  4,132
  4,425
  4,730
  5,046
  5,375
  5,718
  6,074
  6,446
  6,832
  7,235
  7,655
  8,093
  8,550
  9,028
  9,527
  10,048
Change in working capital, $m
  -32
  -34
  -37
  -39
  -42
  -44
  -46
  -48
  -51
  -53
  -55
  -57
  -60
  -62
  -64
  -67
  -70
  -72
  -75
  -78
  -81
  -85
  -88
  -92
  -96
  -100
  -104
  -109
  -114
  -119
Cash from operations, $m
  1,239
  1,393
  1,558
  1,733
  1,918
  2,113
  2,318
  2,532
  2,757
  2,990
  3,121
  3,375
  3,638
  3,912
  4,196
  4,492
  4,799
  5,119
  5,451
  5,796
  6,156
  6,530
  6,920
  7,327
  7,751
  8,193
  8,655
  9,137
  9,640
  10,167
Maintenance CAPEX, $m
  -458
  -530
  -608
  -692
  -781
  -876
  -975
  -1,080
  -1,190
  -1,305
  -1,424
  -1,549
  -1,679
  -1,814
  -1,955
  -2,101
  -2,253
  -2,410
  -2,574
  -2,745
  -2,922
  -3,107
  -3,299
  -3,499
  -3,707
  -3,924
  -4,151
  -4,388
  -4,635
  -4,892
New CAPEX, $m
  -363
  -390
  -418
  -445
  -472
  -498
  -524
  -549
  -574
  -599
  -624
  -650
  -676
  -703
  -730
  -759
  -789
  -820
  -852
  -886
  -922
  -960
  -1,000
  -1,042
  -1,086
  -1,133
  -1,183
  -1,235
  -1,290
  -1,348
Cash from investing activities, $m
  -821
  -920
  -1,026
  -1,137
  -1,253
  -1,374
  -1,499
  -1,629
  -1,764
  -1,904
  -2,048
  -2,199
  -2,355
  -2,517
  -2,685
  -2,860
  -3,042
  -3,230
  -3,426
  -3,631
  -3,844
  -4,067
  -4,299
  -4,541
  -4,793
  -5,057
  -5,334
  -5,623
  -5,925
  -6,240
Free cash flow, $m
  419
  472
  531
  595
  665
  739
  819
  903
  993
  1,087
  1,073
  1,175
  1,283
  1,395
  1,511
  1,632
  1,758
  1,888
  2,024
  2,165
  2,311
  2,463
  2,622
  2,786
  2,957
  3,135
  3,321
  3,515
  3,716
  3,927
Issuance/(repayment) of debt, $m
  521
  562
  603
  642
  680
  718
  754
  791
  827
  863
  899
  936
  974
  1,012
  1,052
  1,093
  1,136
  1,181
  1,228
  1,277
  1,329
  1,383
  1,441
  1,501
  1,565
  1,633
  1,704
  1,779
  1,858
  1,941
Issuance/(repurchase) of shares, $m
  95
  46
  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  
  616
  608
  603
  642
  680
  718
  754
  791
  827
  863
  899
  936
  974
  1,012
  1,052
  1,093
  1,136
  1,181
  1,228
  1,277
  1,329
  1,383
  1,441
  1,501
  1,565
  1,633
  1,704
  1,779
  1,858
  1,941
Total cash flow (excl. dividends), $m
  1,034
  1,081
  1,134
  1,237
  1,345
  1,457
  1,573
  1,694
  1,820
  1,950
  1,972
  2,112
  2,257
  2,407
  2,563
  2,725
  2,894
  3,069
  3,252
  3,442
  3,640
  3,847
  4,062
  4,287
  4,522
  4,768
  5,025
  5,293
  5,574
  5,868
Retained Cash Flow (-), $m
  -355
  -380
  -407
  -433
  -459
  -484
  -509
  -534
  -558
  -583
  -607
  -632
  -657
  -683
  -710
  -738
  -767
  -797
  -829
  -862
  -897
  -934
  -973
  -1,014
  -1,057
  -1,102
  -1,150
  -1,201
  -1,254
  -1,311
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
  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
  679
  701
  727
  804
  886
  973
  1,064
  1,160
  1,261
  1,367
  1,365
  1,480
  1,599
  1,724
  1,853
  1,987
  2,127
  2,272
  2,423
  2,580
  2,743
  2,913
  3,090
  3,274
  3,466
  3,666
  3,875
  4,093
  4,320
  4,558
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  635
  610
  583
  591
  592
  586
  573
  553
  527
  494
  423
  388
  350
  311
  271
  233
  196
  162
  131
  104
  80
  61
  45
  32
  23
  16
  10
  7
  4
  3
Current shareholders' claim on cash, %
  97.3
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1
  96.1

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. It offers frozen food products, such as fish, vegetables, poultry, and ready meals. The company sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Iglo, and Findus brands. The company also sells its products in Austria, Belgium, Finland, Greece, Hungary, Ireland, Portugal, Switzerland, Denmark, The Netherlands, and Spain. Nomad Foods Limited is headquartered in Feltham, the United Kingdom.

FINANCIAL RATIOS  of  Nomad Foods (NOMD)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

NOMD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NOMD stock intrinsic value calculation we used $2348.85954382 million for the last fiscal year's total revenue generated by Nomad Foods. The default revenue input number comes from 0001 income statement of Nomad Foods. 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 NOMD stock valuation model: a) initial revenue growth rate of 15.8% 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 6.9%, whose default value for NOMD is calculated based on our internal credit rating of Nomad Foods, 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 Nomad Foods.
    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 NOMD stock the variable cost ratio is equal to 84.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $28 million in the base year in the intrinsic value calculation for NOMD 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 6.1% for Nomad Foods.

Corporate tax rate of 27% is the nominal tax rate for Nomad Foods. 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 NOMD 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 NOMD are equal to 97.5%.

Life of production assets of 0 years is the average useful life of capital assets used in Nomad Foods 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 NOMD is equal to -8.6%. 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 - $2224.00960384 million for Nomad Foods - 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 173.968 million for Nomad Foods 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 Nomad Foods at the current share price and the inputted number of shares is $3.4 billion.

RELATED COMPANIES Price Int.Val. Rating
SENEA Seneca Foods C 32.87 13.08  str.sell
LNDC Landec 14.09 1.59  str.sell

COMPANY NEWS

▶ Nomad Foods Limited (NYSE:NOMD): Cash Is King   [Nov-12-18 10:58AM  Simply Wall St.]
▶ Nomad Foods: 3Q Earnings Snapshot   [08:29AM  Associated Press]
▶ [$$] Nomads Stefan Descheemaeker: rescuing the business   [Sep-15-18 10:00PM  Financial Times]
▶ [$$] Frozen Food Is Hot and Nomad Is a Big Winner   [Aug-22-18 08:00PM  The Wall Street Journal]
▶ [$$] Frozen Food Is Hot and Nomad Is a Big Winner   [05:33AM  The Wall Street Journal]
▶ Small Caps, Nasdaq Lead Stock Market; MercadoLibre Leaps   [Aug-09-18 11:57AM  Investor's Business Daily]
▶ Nomad Foods Ltd. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ Nomad Foods Completes Acquisition of Aunt Bessies   [Jul-02-18 06:45AM  Business Wire]
▶ 4 Food Stocks Ready for Growth as Tastes Change   [Jun-11-18 02:25PM  InvestorPlace]
▶ Nomad Buys Aunt Bessie's   [Jun-04-18 01:06PM  Bloomberg]
▶ Nomad Foods to Acquire Aunt Bessies   [06:45AM  Business Wire]
▶ Nomad Foods: 1Q Earnings Snapshot   [May-10-18 08:15AM  Associated Press]
▶ Nomad Foods Completes Acquisition of Goodfellas Pizza   [Apr-23-18 07:30AM  Business Wire]
▶ Nomad Foods Ltd. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ Wired News Nomad Foods Selects New CFO   [Feb-20-18 07:20AM  ACCESSWIRE]
▶ Nomad Foods to Present at 2018 CAGNY Conference   [Feb-14-18 07:00AM  Business Wire]
▶ Nomad Foods to buy UK's Goodfella's frozen pizza   [Jan-17-18 08:16AM  Reuters]
▶ Nomad Foods to Acquire Goodfellas Pizza   [06:45AM  Business Wire]
▶ Nomad Foods Scores Relative Strength Rating Upgrade   [Jan-05-18 03:00AM  Investor's Business Daily]
▶ Bill Ackman Logs Third Consecutive Down Year   [Jan-03-18 06:16PM  GuruFocus.com]
▶ 4 Stocks Billionaire Bill Ackman Is Buying and Selling   [Nov-19-17 12:15PM  Motley Fool]
▶ Stocks With Rising Relative Price Strength: Nomad Foods   [Nov-13-17 03:00AM  Investor's Business Daily]
▶ Kellogg (K) Catches Eye: Stock Jumps 6.2%   [Nov-01-17 08:43AM  Zacks]
▶ After 2-Year Run, Bill Ackman Cuts Ties With Nomad Foods   [Sep-13-17 07:17PM  GuruFocus.com]
▶ Nomad Foods Joins Elite Club Of Stocks With RS Ratings Over 90   [03:00AM  Investor's Business Daily]
▶ Ackman looks to cash in on Nomad amid proxy battle with ADP   [Sep-07-17 05:40PM  American City Business Journals]

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