Intrinsic value of Olin - OLN

Previous Close

$20.30

  Intrinsic Value

$44.54

stock screener

  Rating & Target

str. buy

+119%

Previous close

$20.30

 
Intrinsic value

$44.54

 
Up/down potential

+119%

 
Rating

str. buy

We calculate the intrinsic value of OLN 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, %
  13.20
  12.38
  11.64
  10.98
  10.38
  9.84
  9.36
  8.92
  8.53
  8.18
  7.86
  7.57
  7.32
  7.08
  6.88
  6.69
  6.52
  6.37
  6.23
  6.11
  6.00
  5.90
  5.81
  5.73
  5.65
  5.59
  5.53
  5.48
  5.43
  5.39
Revenue, $m
  7,096
  7,974
  8,903
  9,880
  10,906
  11,979
  13,100
  14,269
  15,486
  16,752
  18,068
  19,437
  20,859
  22,337
  23,872
  25,469
  27,129
  28,857
  30,655
  32,527
  34,478
  36,511
  38,632
  40,844
  43,153
  45,565
  48,085
  50,718
  53,472
  56,352
Variable operating expenses, $m
  5,300
  5,923
  6,581
  7,274
  8,001
  8,762
  9,557
  10,386
  11,248
  12,146
  12,810
  13,780
  14,788
  15,835
  16,924
  18,056
  19,233
  20,458
  21,733
  23,060
  24,443
  25,885
  27,388
  28,956
  30,593
  32,303
  34,090
  35,957
  37,909
  39,951
Fixed operating expenses, $m
  1,280
  1,308
  1,336
  1,366
  1,396
  1,427
  1,458
  1,490
  1,523
  1,556
  1,591
  1,626
  1,661
  1,698
  1,735
  1,773
  1,812
  1,852
  1,893
  1,935
  1,977
  2,021
  2,065
  2,111
  2,157
  2,205
  2,253
  2,303
  2,353
  2,405
Total operating expenses, $m
  6,580
  7,231
  7,917
  8,640
  9,397
  10,189
  11,015
  11,876
  12,771
  13,702
  14,401
  15,406
  16,449
  17,533
  18,659
  19,829
  21,045
  22,310
  23,626
  24,995
  26,420
  27,906
  29,453
  31,067
  32,750
  34,508
  36,343
  38,260
  40,262
  42,356
Operating income, $m
  516
  743
  985
  1,240
  1,508
  1,790
  2,085
  2,393
  2,714
  3,049
  3,668
  4,031
  4,410
  4,803
  5,213
  5,639
  6,084
  6,546
  7,029
  7,532
  8,057
  8,606
  9,178
  9,777
  10,403
  11,057
  11,742
  12,459
  13,210
  13,996
EBITDA, $m
  1,282
  1,571
  1,878
  2,201
  2,542
  2,898
  3,272
  3,662
  4,068
  4,492
  4,933
  5,392
  5,870
  6,367
  6,884
  7,422
  7,983
  8,566
  9,175
  9,809
  10,471
  11,162
  11,883
  12,636
  13,423
  14,247
  15,108
  16,009
  16,953
  17,941
Interest expense (income), $m
  201
  217
  268
  322
  379
  440
  503
  570
  639
  711
  787
  865
  946
  1,031
  1,119
  1,210
  1,305
  1,404
  1,507
  1,614
  1,725
  1,841
  1,961
  2,087
  2,218
  2,355
  2,498
  2,647
  2,803
  2,966
  3,136
Earnings before tax, $m
  299
  476
  663
  860
  1,068
  1,287
  1,515
  1,754
  2,003
  2,263
  2,803
  3,085
  3,379
  3,684
  4,002
  4,334
  4,679
  5,040
  5,415
  5,807
  6,217
  6,644
  7,091
  7,559
  8,047
  8,559
  9,095
  9,656
  10,244
  10,860
Tax expense, $m
  81
  128
  179
  232
  288
  347
  409
  474
  541
  611
  757
  833
  912
  995
  1,081
  1,170
  1,263
  1,361
  1,462
  1,568
  1,679
  1,794
  1,915
  2,041
  2,173
  2,311
  2,456
  2,607
  2,766
  2,932
Net income, $m
  218
  347
  484
  628
  780
  939
  1,106
  1,280
  1,462
  1,652
  2,046
  2,252
  2,466
  2,689
  2,922
  3,164
  3,416
  3,679
  3,953
  4,239
  4,538
  4,850
  5,177
  5,518
  5,875
  6,248
  6,639
  7,049
  7,478
  7,928

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
  10,435
  11,727
  13,092
  14,529
  16,038
  17,616
  19,264
  20,983
  22,773
  24,635
  26,571
  28,584
  30,675
  32,848
  35,106
  37,454
  39,896
  42,437
  45,081
  47,834
  50,703
  53,693
  56,811
  60,064
  63,461
  67,007
  70,713
  74,585
  78,635
  82,870
Adjusted assets (=assets-cash), $m
  10,435
  11,727
  13,092
  14,529
  16,038
  17,616
  19,264
  20,983
  22,773
  24,635
  26,571
  28,584
  30,675
  32,848
  35,106
  37,454
  39,896
  42,437
  45,081
  47,834
  50,703
  53,693
  56,811
  60,064
  63,461
  67,007
  70,713
  74,585
  78,635
  82,870
Revenue / Adjusted assets
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
Average production assets, $m
  5,662
  6,363
  7,104
  7,884
  8,703
  9,559
  10,454
  11,386
  12,358
  13,368
  14,419
  15,511
  16,645
  17,825
  19,050
  20,324
  21,649
  23,028
  24,463
  25,957
  27,513
  29,136
  30,828
  32,593
  34,436
  36,361
  38,371
  40,473
  42,670
  44,969
Working capital, $m
  596
  670
  748
  830
  916
  1,006
  1,100
  1,199
  1,301
  1,407
  1,518
  1,633
  1,752
  1,876
  2,005
  2,139
  2,279
  2,424
  2,575
  2,732
  2,896
  3,067
  3,245
  3,431
  3,625
  3,827
  4,039
  4,260
  4,492
  4,734
Total debt, $m
  4,462
  5,368
  6,325
  7,332
  8,390
  9,496
  10,652
  11,857
  13,111
  14,417
  15,774
  17,184
  18,650
  20,174
  21,757
  23,403
  25,115
  26,895
  28,749
  30,679
  32,690
  34,786
  36,972
  39,253
  41,633
  44,119
  46,717
  49,432
  52,270
  55,239
Total liabilities, $m
  7,315
  8,221
  9,178
  10,185
  11,242
  12,349
  13,504
  14,709
  15,964
  17,269
  18,626
  20,037
  21,503
  23,026
  24,610
  26,256
  27,967
  29,748
  31,602
  33,532
  35,543
  37,639
  39,825
  42,105
  44,486
  46,972
  49,569
  52,284
  55,123
  58,092
Total equity, $m
  3,120
  3,506
  3,915
  4,344
  4,795
  5,267
  5,760
  6,274
  6,809
  7,366
  7,945
  8,546
  9,172
  9,821
  10,497
  11,199
  11,929
  12,689
  13,479
  14,302
  15,160
  16,054
  16,987
  17,959
  18,975
  20,035
  21,143
  22,301
  23,512
  24,778
Total liabilities and equity, $m
  10,435
  11,727
  13,093
  14,529
  16,037
  17,616
  19,264
  20,983
  22,773
  24,635
  26,571
  28,583
  30,675
  32,847
  35,107
  37,455
  39,896
  42,437
  45,081
  47,834
  50,703
  53,693
  56,812
  60,064
  63,461
  67,007
  70,712
  74,585
  78,635
  82,870
Debt-to-equity ratio
  1.430
  1.530
  1.620
  1.690
  1.750
  1.800
  1.850
  1.890
  1.930
  1.960
  1.990
  2.010
  2.030
  2.050
  2.070
  2.090
  2.110
  2.120
  2.130
  2.150
  2.160
  2.170
  2.180
  2.190
  2.190
  2.200
  2.210
  2.220
  2.220
  2.230
Adjusted equity ratio
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299
  0.299

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  218
  347
  484
  628
  780
  939
  1,106
  1,280
  1,462
  1,652
  2,046
  2,252
  2,466
  2,689
  2,922
  3,164
  3,416
  3,679
  3,953
  4,239
  4,538
  4,850
  5,177
  5,518
  5,875
  6,248
  6,639
  7,049
  7,478
  7,928
Depreciation, amort., depletion, $m
  767
  828
  893
  961
  1,033
  1,108
  1,187
  1,269
  1,354
  1,442
  1,265
  1,361
  1,460
  1,564
  1,671
  1,783
  1,899
  2,020
  2,146
  2,277
  2,413
  2,556
  2,704
  2,859
  3,021
  3,190
  3,366
  3,550
  3,743
  3,945
Funds from operations, $m
  985
  1,175
  1,377
  1,589
  1,813
  2,048
  2,293
  2,549
  2,816
  3,094
  3,311
  3,613
  3,926
  4,253
  4,593
  4,947
  5,315
  5,699
  6,099
  6,516
  6,952
  7,406
  7,881
  8,377
  8,895
  9,438
  10,005
  10,599
  11,221
  11,872
Change in working capital, $m
  70
  74
  78
  82
  86
  90
  94
  98
  102
  106
  111
  115
  119
  124
  129
  134
  139
  145
  151
  157
  164
  171
  178
  186
  194
  203
  212
  221
  231
  242
Cash from operations, $m
  915
  1,101
  1,299
  1,507
  1,727
  1,957
  2,199
  2,451
  2,714
  2,988
  3,201
  3,498
  3,807
  4,129
  4,464
  4,812
  5,176
  5,554
  5,948
  6,359
  6,788
  7,235
  7,703
  8,191
  8,701
  9,235
  9,793
  10,378
  10,990
  11,630
Maintenance CAPEX, $m
  -439
  -497
  -558
  -623
  -692
  -763
  -839
  -917
  -999
  -1,084
  -1,173
  -1,265
  -1,361
  -1,460
  -1,564
  -1,671
  -1,783
  -1,899
  -2,020
  -2,146
  -2,277
  -2,413
  -2,556
  -2,704
  -2,859
  -3,021
  -3,190
  -3,366
  -3,550
  -3,743
New CAPEX, $m
  -661
  -701
  -741
  -780
  -818
  -857
  -895
  -933
  -971
  -1,010
  -1,051
  -1,092
  -1,135
  -1,179
  -1,226
  -1,274
  -1,325
  -1,379
  -1,435
  -1,494
  -1,557
  -1,623
  -1,692
  -1,765
  -1,843
  -1,925
  -2,011
  -2,102
  -2,197
  -2,298
Cash from investing activities, $m
  -1,100
  -1,198
  -1,299
  -1,403
  -1,510
  -1,620
  -1,734
  -1,850
  -1,970
  -2,094
  -2,224
  -2,357
  -2,496
  -2,639
  -2,790
  -2,945
  -3,108
  -3,278
  -3,455
  -3,640
  -3,834
  -4,036
  -4,248
  -4,469
  -4,702
  -4,946
  -5,201
  -5,468
  -5,747
  -6,041
Free cash flow, $m
  -184
  -96
  0
  104
  217
  338
  466
  601
  744
  893
  977
  1,141
  1,312
  1,489
  1,675
  1,867
  2,068
  2,276
  2,493
  2,719
  2,954
  3,199
  3,455
  3,721
  3,999
  4,290
  4,593
  4,910
  5,242
  5,589
Issuance/(repayment) of debt, $m
  850
  906
  957
  1,007
  1,057
  1,106
  1,156
  1,205
  1,255
  1,305
  1,357
  1,411
  1,466
  1,523
  1,583
  1,646
  1,712
  1,781
  1,854
  1,930
  2,011
  2,096
  2,186
  2,281
  2,381
  2,486
  2,597
  2,715
  2,839
  2,969
Issuance/(repurchase) of shares, $m
  148
  39
  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  
  998
  945
  957
  1,007
  1,057
  1,106
  1,156
  1,205
  1,255
  1,305
  1,357
  1,411
  1,466
  1,523
  1,583
  1,646
  1,712
  1,781
  1,854
  1,930
  2,011
  2,096
  2,186
  2,281
  2,381
  2,486
  2,597
  2,715
  2,839
  2,969
Total cash flow (excl. dividends), $m
  814
  848
  957
  1,112
  1,274
  1,444
  1,621
  1,806
  1,998
  2,199
  2,335
  2,552
  2,778
  3,013
  3,258
  3,513
  3,779
  4,057
  4,347
  4,649
  4,965
  5,295
  5,641
  6,002
  6,380
  6,776
  7,191
  7,625
  8,081
  8,558
Retained Cash Flow (-), $m
  -366
  -386
  -408
  -430
  -451
  -472
  -493
  -514
  -535
  -557
  -579
  -602
  -625
  -650
  -675
  -702
  -730
  -760
  -791
  -823
  -858
  -894
  -932
  -973
  -1,015
  -1,060
  -1,108
  -1,158
  -1,211
  -1,266
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
  448
  462
  549
  682
  823
  972
  1,128
  1,292
  1,463
  1,642
  1,756
  1,950
  2,152
  2,363
  2,583
  2,811
  3,049
  3,297
  3,556
  3,826
  4,107
  4,401
  4,708
  5,029
  5,365
  5,716
  6,083
  6,467
  6,870
  7,292
Discount rate, %
  8.00
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
PV of cash for distribution, $m
  415
  393
  426
  479
  518
  542
  553
  550
  535
  510
  456
  418
  376
  331
  285
  240
  198
  159
  125
  96
  72
  53
  37
  26
  17
  11
  7
  4
  3
  1
Current shareholders' claim on cash, %
  95.8
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9
  94.9

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. The Epoxy segment produces and sells a range of epoxy materials, including allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products, such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

FINANCIAL RATIOS  of  Olin (OLN)

Valuation Ratios
P/E Ratio -839.4
Price to Sales 0.6
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 10.3
Growth Rates
Sales Growth Rate 94.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 112.2%
Cap. Spend. - 3 Yr. Gr. Rate 25%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 155.7%
Total Debt to Equity 159.2%
Interest Coverage 1
Management Effectiveness
Return On Assets 0.2%
Ret/ On Assets - 3 Yr. Avg. 1.6%
Return On Total Capital -0.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity -0.2%
Return On Equity - 3 Yr. Avg. 3.3%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 11.3%
Gross Margin - 3 Yr. Avg. 13.9%
EBITDA Margin 12.6%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 2.8%
Oper. Margin - 3 Yr. Avg. 5.1%
Pre-Tax Margin -0.6%
Pre-Tax Margin - 3 Yr. Avg. 2.3%
Net Profit Margin -0.1%
Net Profit Margin - 3 Yr. Avg. 1.5%
Effective Tax Rate 88.2%
Eff/ Tax Rate - 3 Yr. Avg. 79.4%
Payout Ratio -3300%

OLN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OLN stock intrinsic value calculation we used $6268.4 million for the last fiscal year's total revenue generated by Olin. The default revenue input number comes from 0001 income statement of Olin. 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 OLN stock valuation model: a) initial revenue growth rate of 13.2% 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 8%, whose default value for OLN is calculated based on our internal credit rating of Olin, 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 Olin.
    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 OLN stock the variable cost ratio is equal to 75.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1252 million in the base year in the intrinsic value calculation for OLN 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% for Olin.

Corporate tax rate of 27% is the nominal tax rate for Olin. 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 OLN 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 OLN are equal to 79.8%.

Life of production assets of 11.4 years is the average useful life of capital assets used in Olin 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 OLN is equal to 8.4%. 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 - $2753.7 million for Olin - 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 167 million for Olin 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 Olin at the current share price and the inputted number of shares is $3.4 billion.

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COMPANY NEWS

▶ Olin Corporation (NYSE:OLN): Ex-Dividend Is In 4 Days   [Nov-03-18 09:39AM  Simply Wall St.]
▶ Olin: 3Q Earnings Snapshot   [05:41PM  Associated Press]
▶ Olin Declares 368th Consecutive Quarterly Dividend   [Oct-25-18 04:15PM  PR Newswire]
▶ St. Louis stocks trail national indexes by wide margin   [Oct-03-18 11:53AM  American City Business Journals]
▶ Scott M. Sutton Appointed to Olin's Board of Directors   [Sep-20-18 04:30PM  PR Newswire]
▶ 5 Stocks With Low Price-Sales Ratios   [Sep-06-18 05:34PM  GuruFocus.com]
▶ Olin Corporation to Host Earnings Call   [09:10AM  ACCESSWIRE]
▶ Olin: 2Q Earnings Snapshot   [Jul-31-18 06:53PM  Associated Press]
▶ Olin's Q2 Earnings Outlook   [08:32AM  Benzinga]
▶ Cheap Materials Stocks To Watch Out For In June   [Jun-10-18 02:02PM  Simply Wall St.]
▶ These Stocks May Be About to Change Direction   [May-21-18 03:00PM  TheStreet.com]
▶ Top Undervalued Materials Stocks To Buy   [May-06-18 02:02PM  Simply Wall St.]
▶ Olin: 1Q Earnings Snapshot   [May-01-18 07:29PM  Associated Press]
▶ Olin Declares 366th Consecutive Quarterly Dividend   [Apr-26-18 04:30PM  PR Newswire]
▶ Olin Announces New Lead Director   [Apr-25-18 04:30PM  PR Newswire]
▶ Best Discounted Cylical Stocks in March   [Mar-18-18 02:02PM  Simply Wall St.]
▶ Michigan Dumps Its Gun Shares   [05:26PM  Bloomberg]
▶ Florida School Shooting: Gun Stocks Briefly Rise   [Feb-15-18 04:32PM  TheStreet.com]
▶ Olin Corporation to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ Olin misses 4Q profit forecasts   [05:01AM  Associated Press]
▶ Olin Announces Fourth Quarter 2017 Earnings   [Feb-06-18 05:03PM  PR Newswire]
▶ Olin Earnings Preview   [01:07PM  Benzinga]
▶ Olin Declares 365th Consecutive Quarterly Dividend   [Jan-26-18 04:30PM  PR Newswire]
▶ Can LyondellBasells Stock Continue Its Surge?   [03:44PM  Market Realist]
▶ 5 Best Value Picks Based on PEG Ratio   [Jan-24-18 09:23AM  Zacks]
▶ Olin Announces Pricing Terms of Debt Offering   [Jan-16-18 05:50PM  PR Newswire]
▶ Olin To Pursue Registered Debt Offering   [07:18AM  PR Newswire]
▶ "Fast Money" final trades: NKE, EEM, and more   [Dec-21-17 05:59PM  CNBC Videos]
▶ ETFs with exposure to Olin Corp. : December 19, 2017   [Dec-19-17 01:44PM  Capital Cube]
▶ ETFs with exposure to Olin Corp. : December 8, 2017   [Dec-08-17 01:17PM  Capital Cube]
▶ ETFs with exposure to Olin Corp. : November 27, 2017   [Nov-27-17 03:10PM  Capital Cube]
▶ [$$] Compliance Officers Want To Use Data to Measure Programs   [Nov-20-17 01:11PM  The Wall Street Journal]
▶ ETFs with exposure to Olin Corp. : November 17, 2017   [Nov-17-17 12:38PM  Capital Cube]
▶ Compliance Officers Want To Use Data to Measure Programs   [Nov-15-17 05:25PM  The Wall Street Journal]
▶ Olin meets 3Q profit forecasts   [Oct-30-17 06:37PM  Associated Press]

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