Intrinsic value of ORBCOMM - ORBC

Previous Close

$9.98

  Intrinsic Value

$0.57

stock screener

  Rating & Target

str. sell

-94%

Previous close

$9.98

 
Intrinsic value

$0.57

 
Up/down potential

-94%

 
Rating

str. sell

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

We calculate the intrinsic value of ORBC 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 0.7

 

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, %
  5.06
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
Revenue, $m
  187
  213
  241
  271
  302
  335
  370
  406
  443
  483
  524
  566
  611
  657
  705
  754
  806
  860
  916
  974
  1,034
  1,097
  1,163
  1,232
  1,303
  1,377
  1,455
  1,536
  1,621
  1,710
  1,803
Variable operating expenses, $m
 
  221
  248
  277
  308
  340
  374
  410
  447
  486
  526
  556
  600
  645
  692
  741
  792
  844
  899
  956
  1,016
  1,078
  1,142
  1,209
  1,280
  1,353
  1,429
  1,509
  1,592
  1,679
  1,770
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
  201
  221
  248
  277
  308
  340
  374
  410
  447
  486
  526
  556
  600
  645
  692
  741
  792
  844
  899
  956
  1,016
  1,078
  1,142
  1,209
  1,280
  1,353
  1,429
  1,509
  1,592
  1,679
  1,770
Operating income, $m
  -14
  -8
  -7
  -7
  -6
  -5
  -5
  -4
  -3
  -3
  -2
  10
  11
  12
  13
  14
  14
  15
  16
  17
  19
  20
  21
  22
  23
  25
  26
  28
  29
  31
  32
EBITDA, $m
  29
  40
  45
  51
  57
  63
  69
  76
  83
  90
  98
  106
  114
  123
  132
  141
  151
  161
  172
  182
  194
  206
  218
  231
  244
  258
  273
  288
  304
  320
  338
Interest expense (income), $m
  9
  9
  11
  13
  15
  18
  20
  22
  25
  28
  31
  34
  37
  40
  44
  47
  51
  55
  58
  63
  67
  71
  76
  81
  86
  91
  96
  102
  108
  114
  121
Earnings before tax, $m
  -23
  -17
  -18
  -20
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -24
  -26
  -28
  -31
  -34
  -36
  -39
  -42
  -45
  -48
  -52
  -55
  -59
  -62
  -66
  -70
  -75
  -79
  -84
  -88
Tax expense, $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
  0
Net income, $m
  -24
  -17
  -18
  -20
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -24
  -26
  -28
  -31
  -34
  -36
  -39
  -42
  -45
  -48
  -52
  -55
  -59
  -62
  -66
  -70
  -75
  -79
  -84
  -88

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  25
  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
  506
  548
  620
  696
  776
  861
  950
  1,043
  1,140
  1,241
  1,346
  1,456
  1,570
  1,688
  1,811
  1,939
  2,072
  2,210
  2,354
  2,503
  2,659
  2,821
  2,990
  3,166
  3,349
  3,541
  3,741
  3,950
  4,168
  4,396
  4,634
Adjusted assets (=assets-cash), $m
  481
  548
  620
  696
  776
  861
  950
  1,043
  1,140
  1,241
  1,346
  1,456
  1,570
  1,688
  1,811
  1,939
  2,072
  2,210
  2,354
  2,503
  2,659
  2,821
  2,990
  3,166
  3,349
  3,541
  3,741
  3,950
  4,168
  4,396
  4,634
Revenue / Adjusted assets
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
  0.389
Average production assets, $m
  311
  354
  400
  449
  501
  556
  613
  673
  736
  801
  869
  940
  1,014
  1,090
  1,170
  1,252
  1,338
  1,427
  1,520
  1,617
  1,717
  1,822
  1,931
  2,044
  2,163
  2,287
  2,416
  2,550
  2,691
  2,839
  2,993
Working capital, $m
  38
  15
  17
  19
  21
  23
  26
  28
  31
  34
  37
  40
  43
  46
  49
  53
  56
  60
  64
  68
  72
  77
  81
  86
  91
  96
  102
  108
  113
  120
  126
Total debt, $m
  149
  180
  214
  250
  287
  327
  369
  412
  457
  505
  554
  605
  659
  714
  772
  832
  894
  958
  1,026
  1,096
  1,168
  1,244
  1,323
  1,406
  1,492
  1,581
  1,675
  1,772
  1,875
  1,981
  2,093
Total liabilities, $m
  225
  256
  290
  326
  363
  403
  445
  488
  533
  581
  630
  681
  735
  790
  848
  908
  970
  1,034
  1,102
  1,172
  1,244
  1,320
  1,399
  1,482
  1,568
  1,657
  1,751
  1,848
  1,951
  2,057
  2,169
Total equity, $m
  281
  292
  330
  370
  413
  458
  505
  555
  606
  660
  716
  775
  835
  898
  964
  1,032
  1,102
  1,176
  1,252
  1,332
  1,415
  1,501
  1,591
  1,684
  1,782
  1,884
  1,990
  2,101
  2,217
  2,339
  2,465
Total liabilities and equity, $m
  506
  548
  620
  696
  776
  861
  950
  1,043
  1,139
  1,241
  1,346
  1,456
  1,570
  1,688
  1,812
  1,940
  2,072
  2,210
  2,354
  2,504
  2,659
  2,821
  2,990
  3,166
  3,350
  3,541
  3,741
  3,949
  4,168
  4,396
  4,634
Debt-to-equity ratio
  0.530
  0.620
  0.650
  0.670
  0.700
  0.710
  0.730
  0.740
  0.750
  0.760
  0.770
  0.780
  0.790
  0.800
  0.800
  0.810
  0.810
  0.820
  0.820
  0.820
  0.830
  0.830
  0.830
  0.830
  0.840
  0.840
  0.840
  0.840
  0.850
  0.850
  0.850
Adjusted equity ratio
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532
  0.532

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -24
  -17
  -18
  -20
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -24
  -26
  -28
  -31
  -34
  -36
  -39
  -42
  -45
  -48
  -52
  -55
  -59
  -62
  -66
  -70
  -75
  -79
  -84
  -88
Depreciation, amort., depletion, $m
  43
  48
  52
  57
  63
  68
  74
  80
  87
  93
  100
  96
  103
  111
  119
  128
  137
  146
  155
  165
  175
  186
  197
  209
  221
  233
  246
  260
  275
  290
  305
Funds from operations, $m
  22
  31
  34
  38
  41
  45
  49
  54
  58
  63
  67
  72
  77
  83
  88
  94
  100
  107
  113
  120
  127
  134
  142
  150
  158
  167
  176
  186
  196
  206
  217
Change in working capital, $m
  -7
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
Cash from operations, $m
  29
  29
  32
  36
  39
  43
  47
  51
  55
  60
  64
  69
  74
  80
  85
  91
  97
  103
  109
  116
  123
  130
  137
  145
  153
  162
  171
  180
  190
  200
  210
Maintenance CAPEX, $m
  0
  -32
  -36
  -41
  -46
  -51
  -57
  -63
  -69
  -75
  -82
  -89
  -96
  -103
  -111
  -119
  -128
  -137
  -146
  -155
  -165
  -175
  -186
  -197
  -209
  -221
  -233
  -246
  -260
  -275
  -290
New CAPEX, $m
  -28
  -43
  -46
  -49
  -52
  -55
  -57
  -60
  -63
  -65
  -68
  -71
  -74
  -76
  -79
  -83
  -86
  -89
  -93
  -97
  -100
  -105
  -109
  -114
  -119
  -124
  -129
  -135
  -141
  -147
  -154
Cash from investing activities, $m
  -31
  -75
  -82
  -90
  -98
  -106
  -114
  -123
  -132
  -140
  -150
  -160
  -170
  -179
  -190
  -202
  -214
  -226
  -239
  -252
  -265
  -280
  -295
  -311
  -328
  -345
  -362
  -381
  -401
  -422
  -444
Free cash flow, $m
  -2
  -46
  -50
  -54
  -59
  -63
  -67
  -72
  -76
  -81
  -85
  -90
  -95
  -100
  -106
  -111
  -117
  -123
  -129
  -136
  -143
  -150
  -158
  -165
  -174
  -183
  -192
  -201
  -211
  -222
  -233
Issuance/(repayment) of debt, $m
  0
  31
  34
  36
  38
  40
  42
  43
  45
  47
  49
  51
  53
  55
  58
  60
  62
  65
  67
  70
  73
  76
  79
  82
  86
  90
  94
  98
  102
  107
  112
Issuance/(repurchase) of shares, $m
  0
  52
  56
  60
  64
  68
  72
  76
  80
  84
  89
  82
  87
  91
  96
  102
  107
  113
  118
  125
  131
  138
  145
  152
  160
  168
  177
  186
  195
  205
  215
Cash from financing (excl. dividends), $m  
  0
  83
  90
  96
  102
  108
  114
  119
  125
  131
  138
  133
  140
  146
  154
  162
  169
  178
  185
  195
  204
  214
  224
  234
  246
  258
  271
  284
  297
  312
  327
Total cash flow (excl. dividends), $m
  -2
  38
  40
  41
  43
  45
  46
  48
  50
  51
  53
  43
  45
  47
  48
  50
  52
  54
  56
  59
  61
  64
  66
  69
  72
  75
  79
  82
  86
  90
  94
Retained Cash Flow (-), $m
  18
  -52
  -56
  -60
  -64
  -68
  -72
  -76
  -80
  -84
  -89
  -82
  -87
  -91
  -96
  -102
  -107
  -113
  -118
  -125
  -131
  -138
  -145
  -152
  -160
  -168
  -177
  -186
  -195
  -205
  -215
Prev. year cash balance distribution, $m
 
  25
  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
 
  10
  -17
  -19
  -21
  -23
  -26
  -28
  -31
  -33
  -36
  -39
  -42
  -45
  -48
  -51
  -55
  -58
  -62
  -66
  -70
  -74
  -78
  -83
  -88
  -93
  -98
  -104
  -109
  -115
  -122
Discount rate, %
 
  5.90
  6.20
  6.50
  6.83
  7.17
  7.53
  7.91
  8.30
  8.72
  9.15
  9.61
  10.09
  10.60
  11.13
  11.68
  12.27
  12.88
  13.52
  14.20
  14.91
  15.65
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
PV of cash for distribution, $m
 
  10
  -15
  -16
  -16
  -16
  -17
  -17
  -16
  -16
  -15
  -14
  -13
  -12
  -11
  -10
  -9
  -7
  -6
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  92.8
  86.4
  80.7
  75.7
  71.2
  67.2
  63.5
  60.2
  57.1
  54.3
  52.1
  49.9
  47.9
  46.0
  44.2
  42.5
  40.9
  39.4
  38.0
  36.6
  35.3
  34.0
  32.8
  31.7
  30.6
  29.5
  28.5
  27.5
  26.6
  25.7

ORBCOMM Inc. is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company's IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government. It also provides Automatic Identification System (AIS) data services to assist in vessel navigation and to manage maritime safety for government and commercial customers across the world. It provides its services using various network platforms, including its own constellation of low-Earth orbit (LEO) satellites.

FINANCIAL RATIOS  of  ORBCOMM (ORBC)

Valuation Ratios
P/E Ratio -29.6
Price to Sales 3.8
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 24.5
Price to Free Cash Flow 709.4
Growth Rates
Sales Growth Rate 5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -60%
Cap. Spend. - 3 Yr. Gr. Rate -5.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 53%
Total Debt to Equity 53%
Interest Coverage -2
Management Effectiveness
Return On Assets -2.9%
Ret/ On Assets - 3 Yr. Avg. -1.3%
Return On Total Capital -5.5%
Ret/ On T. Cap. - 3 Yr. Avg. -3.3%
Return On Equity -8.3%
Return On Equity - 3 Yr. Avg. -4.9%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 50.3%
Gross Margin - 3 Yr. Avg. 49.9%
EBITDA Margin 15.5%
EBITDA Margin - 3 Yr. Avg. 13.1%
Operating Margin -7.5%
Oper. Margin - 3 Yr. Avg. -5.7%
Pre-Tax Margin -12.3%
Pre-Tax Margin - 3 Yr. Avg. -7.7%
Net Profit Margin -12.8%
Net Profit Margin - 3 Yr. Avg. -8.4%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. -11.1%
Payout Ratio 0%

ORBC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ORBC stock intrinsic value calculation we used $187 million for the last fiscal year's total revenue generated by ORBCOMM. The default revenue input number comes from 2016 income statement of ORBCOMM. 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 ORBC stock valuation model: a) initial revenue growth rate of 14% 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 5.9%, whose default value for ORBC is calculated based on our internal credit rating of ORBCOMM, 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 ORBCOMM.
    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 ORBC stock the variable cost ratio is equal to 104.3%.

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 ORBC 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 ORBCOMM.

Corporate tax rate of 27% is the nominal tax rate for ORBCOMM. 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 ORBC 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 ORBC are equal to 166%.

Life of production assets of 9.8 years is the average useful life of capital assets used in ORBCOMM 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 ORBC is equal to 7%. 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 - $281 million for ORBCOMM - 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 73.499 million for ORBCOMM 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 ORBCOMM at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ ETFs with exposure to ORBCOMM, Inc. : November 20, 2017   [Nov-20-17 01:01PM  Capital Cube]
▶ GTX Corp Third Quarter 2017 Summary Results   [08:15AM  GlobeNewswire]
▶ Orbcomm reports 3Q loss   [Nov-02-17 08:15AM  Associated Press]
▶ ORBCOMM Announces Third Quarter 2017 Results   [07:00AM  Business Wire]
▶ ORBCOMM to Host Third Quarter 2017 Results Conference Call   [Oct-26-17 08:30AM  Business Wire]
▶ ETFs with exposure to ORBCOMM, Inc. : October 18, 2017   [Oct-18-17 09:55AM  Capital Cube]
▶ Is ORBCOMM Inc (ORBC) Undervalued?   [Sep-12-17 07:31PM  Simply Wall St.]
▶ Orbcomm reports 2Q loss   [Aug-03-17 05:21PM  Associated Press]
▶ ORBCOMM to Host Second Quarter 2017 Results Conference Call   [Jul-27-17 08:30AM  Business Wire]
▶ ORBCOMM and MCN to Offer IDP Service in China   [Jul-11-17 08:30AM  Business Wire]
▶ Harry Boxer: 4 stocks with strong technical momentum   [Jun-15-17 08:48AM  MarketWatch]
▶ ORBCOMM Acquires inthinc, Inc.   [Jun-12-17 08:30AM  Business Wire]
▶ ETFs with exposure to ORBCOMM, Inc. : June 2, 2017   [Jun-02-17 02:23PM  Capital Cube]
▶ ETFs with exposure to ORBCOMM, Inc. : May 12, 2017   [May-12-17 04:18PM  Capital Cube]
▶ Orbcomm reports 1Q loss   [May-04-17 09:11AM  Associated Press]
▶ ORBCOMM Announces First Quarter 2017 Results   [07:00AM  Business Wire]
▶ ORBCOMM to Host First Quarter 2017 Results Conference Call   [Apr-27-17 08:30AM  Business Wire]
▶ Orbcomm reports 4Q loss   [07:33AM  AP]
▶ Sandy Spring Bancorp Inc. (SASR) Hedge Funds Are Snapping Up   [Dec-12-16 08:26AM  at Insider Monkey]
▶ Here is What Hedge Funds Think About ORBCOMM Inc (ORBC)   [Dec-02-16 09:18AM  at Insider Monkey]
▶ ORBCOMM Named on Deloittes 2016 Technology Fast 500   [Nov-17-16 10:52AM  Business Wire]
▶ ORBCOMM to Ring Nasdaq Closing Bell   [08:30AM  Business Wire]
▶ Orbcomm reports 3Q loss   [07:52AM  AP]
▶ ORBCOMM Announces Third Quarter 2016 Results   [07:00AM  Business Wire]
▶ ORBCOMM to Host Third Quarter 2016 Results Conference Call   [Oct-26-16 08:30AM  Business Wire]
▶ ORBCOMM Wins Two 2016 IoT Evolution Asset Tracking Awards   [Sep-27-16 08:30AM  Business Wire]
Financial statements of ORBC
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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