Intrinsic value of PotlatchDeltic - PCH

Previous Close

$36.83

  Intrinsic Value

$1,342

stock screener

  Rating & Target

str. buy

+999%

Previous close

$36.83

 
Intrinsic value

$1,342

 
Up/down potential

+999%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as PCH.

We calculate the intrinsic value of PCH 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 1.5

 

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, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,086
  1,677
  2,509
  3,640
  5,135
  7,060
  9,477
  12,444
  16,012
  20,224
  25,114
  30,704
  37,009
  44,033
  51,775
  60,227
  69,376
  79,209
  89,708
  100,858
  112,645
  125,057
  138,083
  151,718
  165,960
  180,811
  196,277
  212,368
  229,099
  246,489
Variable operating expenses, $m
  244
  377
  564
  819
  1,155
  1,589
  2,132
  2,800
  3,603
  4,550
  5,651
  6,908
  8,327
  9,907
  11,649
  13,551
  15,610
  17,822
  20,184
  22,693
  25,345
  28,138
  31,069
  34,137
  37,341
  40,682
  44,162
  47,783
  51,547
  55,460
Fixed operating expenses, $m
  397
  405
  414
  423
  433
  442
  452
  462
  472
  482
  493
  504
  515
  526
  538
  550
  562
  574
  587
  600
  613
  626
  640
  654
  669
  683
  698
  714
  729
  745
Total operating expenses, $m
  641
  782
  978
  1,242
  1,588
  2,031
  2,584
  3,262
  4,075
  5,032
  6,144
  7,412
  8,842
  10,433
  12,187
  14,101
  16,172
  18,396
  20,771
  23,293
  25,958
  28,764
  31,709
  34,791
  38,010
  41,365
  44,860
  48,497
  52,276
  56,205
Operating income, $m
  445
  895
  1,530
  2,398
  3,547
  5,029
  6,893
  9,182
  11,937
  15,191
  18,970
  23,292
  28,167
  33,599
  39,588
  46,126
  53,205
  60,813
  68,937
  77,566
  86,687
  96,293
  106,374
  116,927
  127,950
  139,445
  151,416
  163,871
  176,822
  190,284
EBITDA, $m
  493
  969
  1,640
  2,558
  3,773
  5,340
  7,310
  9,730
  12,642
  16,081
  20,076
  24,643
  29,796
  35,537
  41,866
  48,777
  56,258
  64,298
  72,885
  82,004
  91,645
  101,796
  112,451
  123,604
  135,254
  147,402
  160,054
  173,217
  186,905
  201,131
Interest expense (income), $m
  28
  31
  55
  90
  139
  205
  293
  406
  548
  722
  932
  1,179
  1,467
  1,795
  2,166
  2,579
  3,033
  3,530
  4,068
  4,645
  5,262
  5,918
  6,610
  7,339
  8,105
  8,906
  9,743
  10,616
  11,524
  12,470
  13,453
Earnings before tax, $m
  414
  840
  1,440
  2,259
  3,342
  4,737
  6,487
  8,634
  11,215
  14,259
  17,791
  21,825
  26,372
  31,434
  37,009
  43,093
  49,675
  56,745
  64,292
  72,303
  80,770
  89,682
  99,035
  108,822
  119,044
  129,702
  140,801
  152,347
  164,353
  176,831
Tax expense, $m
  112
  227
  389
  610
  902
  1,279
  1,751
  2,331
  3,028
  3,850
  4,804
  5,893
  7,120
  8,487
  9,993
  11,635
  13,412
  15,321
  17,359
  19,522
  21,808
  24,214
  26,739
  29,382
  32,142
  35,020
  38,016
  41,134
  44,375
  47,744
Net income, $m
  302
  613
  1,051
  1,649
  2,440
  3,458
  4,735
  6,303
  8,187
  10,409
  12,987
  15,932
  19,251
  22,947
  27,017
  31,458
  36,263
  41,424
  46,933
  52,781
  58,962
  65,468
  72,295
  79,440
  86,902
  94,683
  102,784
  111,213
  119,977
  129,086

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
  1,429
  2,207
  3,301
  4,789
  6,757
  9,290
  12,469
  16,373
  21,068
  26,611
  33,045
  40,400
  48,696
  57,938
  68,125
  79,246
  91,285
  104,222
  118,037
  132,708
  148,218
  164,548
  181,688
  199,629
  218,368
  237,909
  258,259
  279,431
  301,446
  324,328
Adjusted assets (=assets-cash), $m
  1,429
  2,207
  3,301
  4,789
  6,757
  9,290
  12,469
  16,373
  21,068
  26,611
  33,045
  40,400
  48,696
  57,938
  68,125
  79,246
  91,285
  104,222
  118,037
  132,708
  148,218
  164,548
  181,688
  199,629
  218,368
  237,909
  258,259
  279,431
  301,446
  324,328
Revenue / Adjusted assets
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
Average production assets, $m
  1,156
  1,787
  2,672
  3,877
  5,469
  7,519
  10,093
  13,252
  17,053
  21,539
  26,746
  32,700
  39,414
  46,895
  55,140
  64,142
  73,886
  84,357
  95,539
  107,414
  119,967
  133,185
  147,058
  161,580
  176,747
  192,564
  209,035
  226,172
  243,991
  262,511
Working capital, $m
  20
  30
  45
  66
  92
  127
  171
  224
  288
  364
  452
  553
  666
  793
  932
  1,084
  1,249
  1,426
  1,615
  1,815
  2,028
  2,251
  2,485
  2,731
  2,987
  3,255
  3,533
  3,823
  4,124
  4,437
Total debt, $m
  1,017
  1,660
  2,565
  3,796
  5,423
  7,518
  10,147
  13,376
  17,258
  21,842
  27,163
  33,246
  40,106
  47,750
  56,175
  65,371
  75,327
  86,027
  97,451
  109,585
  122,411
  135,916
  150,091
  164,928
  180,426
  196,586
  213,415
  230,925
  249,131
  268,054
Total liabilities, $m
  1,181
  1,825
  2,730
  3,961
  5,588
  7,682
  10,312
  13,541
  17,423
  22,007
  27,328
  33,411
  40,271
  47,915
  56,339
  65,536
  75,492
  86,191
  97,616
  109,750
  122,576
  136,081
  150,256
  165,093
  180,591
  196,751
  213,580
  231,090
  249,296
  268,219
Total equity, $m
  247
  382
  571
  829
  1,169
  1,607
  2,157
  2,833
  3,645
  4,604
  5,717
  6,989
  8,424
  10,023
  11,786
  13,710
  15,792
  18,030
  20,420
  22,959
  25,642
  28,467
  31,432
  34,536
  37,778
  41,158
  44,679
  48,342
  52,150
  56,109
Total liabilities and equity, $m
  1,428
  2,207
  3,301
  4,790
  6,757
  9,289
  12,469
  16,374
  21,068
  26,611
  33,045
  40,400
  48,695
  57,938
  68,125
  79,246
  91,284
  104,221
  118,036
  132,709
  148,218
  164,548
  181,688
  199,629
  218,369
  237,909
  258,259
  279,432
  301,446
  324,328
Debt-to-equity ratio
  4.110
  4.350
  4.490
  4.580
  4.640
  4.680
  4.700
  4.720
  4.740
  4.740
  4.750
  4.760
  4.760
  4.760
  4.770
  4.770
  4.770
  4.770
  4.770
  4.770
  4.770
  4.770
  4.780
  4.780
  4.780
  4.780
  4.780
  4.780
  4.780
  4.780
Adjusted equity ratio
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173
  0.173

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  302
  613
  1,051
  1,649
  2,440
  3,458
  4,735
  6,303
  8,187
  10,409
  12,987
  15,932
  19,251
  22,947
  27,017
  31,458
  36,263
  41,424
  46,933
  52,781
  58,962
  65,468
  72,295
  79,440
  86,902
  94,683
  102,784
  111,213
  119,977
  129,086
Depreciation, amort., depletion, $m
  48
  74
  110
  160
  226
  311
  417
  548
  705
  890
  1,105
  1,351
  1,629
  1,938
  2,279
  2,650
  3,053
  3,486
  3,948
  4,439
  4,957
  5,504
  6,077
  6,677
  7,304
  7,957
  8,638
  9,346
  10,082
  10,848
Funds from operations, $m
  350
  687
  1,162
  1,809
  2,666
  3,768
  5,152
  6,850
  8,892
  11,299
  14,093
  17,284
  20,880
  24,884
  29,295
  34,108
  39,316
  44,910
  50,881
  57,220
  63,919
  70,972
  78,372
  86,117
  94,206
  102,640
  111,422
  120,559
  130,060
  139,934
Change in working capital, $m
  7
  11
  15
  20
  27
  35
  43
  53
  64
  76
  88
  101
  113
  126
  139
  152
  165
  177
  189
  201
  212
  223
  234
  245
  256
  267
  278
  290
  301
  313
Cash from operations, $m
  343
  676
  1,147
  1,789
  2,639
  3,734
  5,109
  6,797
  8,827
  11,224
  14,004
  17,183
  20,766
  24,758
  29,156
  33,956
  39,151
  44,733
  50,692
  57,019
  63,707
  70,748
  78,138
  85,872
  93,950
  102,372
  111,144
  120,270
  129,758
  139,621
Maintenance CAPEX, $m
  -30
  -48
  -74
  -110
  -160
  -226
  -311
  -417
  -548
  -705
  -890
  -1,105
  -1,351
  -1,629
  -1,938
  -2,279
  -2,650
  -3,053
  -3,486
  -3,948
  -4,439
  -4,957
  -5,504
  -6,077
  -6,677
  -7,304
  -7,957
  -8,638
  -9,346
  -10,082
New CAPEX, $m
  -433
  -630
  -885
  -1,205
  -1,593
  -2,050
  -2,574
  -3,160
  -3,800
  -4,486
  -5,207
  -5,954
  -6,714
  -7,481
  -8,245
  -9,001
  -9,744
  -10,471
  -11,182
  -11,875
  -12,553
  -13,218
  -13,873
  -14,521
  -15,168
  -15,816
  -16,471
  -17,137
  -17,819
  -18,520
Cash from investing activities, $m
  -463
  -678
  -959
  -1,315
  -1,753
  -2,276
  -2,885
  -3,577
  -4,348
  -5,191
  -6,097
  -7,059
  -8,065
  -9,110
  -10,183
  -11,280
  -12,394
  -13,524
  -14,668
  -15,823
  -16,992
  -18,175
  -19,377
  -20,598
  -21,845
  -23,120
  -24,428
  -25,775
  -27,165
  -28,602
Free cash flow, $m
  -120
  -2
  188
  474
  886
  1,458
  2,224
  3,220
  4,479
  6,033
  7,907
  10,124
  12,701
  15,648
  18,973
  22,676
  26,756
  31,208
  36,024
  41,196
  46,715
  52,573
  58,761
  65,274
  72,105
  79,253
  86,716
  94,495
  102,594
  111,018
Issuance/(repayment) of debt, $m
  443
  644
  904
  1,231
  1,627
  2,094
  2,630
  3,228
  3,883
  4,584
  5,321
  6,083
  6,860
  7,644
  8,425
  9,197
  9,956
  10,699
  11,425
  12,133
  12,826
  13,505
  14,175
  14,837
  15,498
  16,160
  16,829
  17,510
  18,206
  18,923
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  443
  644
  904
  1,231
  1,627
  2,094
  2,630
  3,228
  3,883
  4,584
  5,321
  6,083
  6,860
  7,644
  8,425
  9,197
  9,956
  10,699
  11,425
  12,133
  12,826
  13,505
  14,175
  14,837
  15,498
  16,160
  16,829
  17,510
  18,206
  18,923
Total cash flow (excl. dividends), $m
  322
  642
  1,092
  1,705
  2,513
  3,552
  4,854
  6,449
  8,362
  10,617
  13,228
  16,207
  19,561
  23,292
  27,398
  31,873
  36,713
  41,907
  47,449
  53,330
  59,541
  66,078
  72,936
  80,111
  87,603
  95,413
  103,545
  112,005
  120,800
  129,941
Retained Cash Flow (-), $m
  -92
  -135
  -189
  -258
  -340
  -438
  -550
  -675
  -812
  -959
  -1,113
  -1,273
  -1,435
  -1,599
  -1,762
  -1,924
  -2,083
  -2,238
  -2,390
  -2,538
  -2,683
  -2,825
  -2,965
  -3,104
  -3,242
  -3,381
  -3,521
  -3,663
  -3,809
  -3,958
Prev. year cash balance distribution, $m
  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
  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
  276
  508
  903
  1,447
  2,173
  3,114
  4,304
  5,773
  7,550
  9,658
  12,115
  14,935
  18,126
  21,693
  25,635
  29,949
  34,630
  39,669
  45,059
  50,791
  56,858
  63,253
  69,971
  77,007
  84,361
  92,032
  100,024
  108,342
  116,991
  125,983
Discount rate, %
  7.10
  7.46
  7.83
  8.22
  8.63
  9.06
  9.51
  9.99
  10.49
  11.01
  11.57
  12.14
  12.75
  13.39
  14.06
  14.76
  15.50
  16.27
  17.09
  17.94
  18.84
  19.78
  20.77
  21.81
  22.90
  24.04
  25.25
  26.51
  27.83
  29.22
PV of cash for distribution, $m
  258
  440
  720
  1,055
  1,437
  1,851
  2,278
  2,695
  3,076
  3,397
  3,635
  3,775
  3,809
  3,736
  3,564
  3,309
  2,990
  2,629
  2,250
  1,873
  1,516
  1,193
  912
  677
  487
  340
  229
  150
  95
  58
Current shareholders' claim on cash, %
  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

Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products. It operates through three segments: Resource, Wood Products and Real Estate. Its primary objectives include using its timberland investments to generate income and maximizing the long-term value of its assets. Its Resource segment manages its timberlands. Its Wood Products segment manufactures and markets lumber, plywood and residual products at mills located in Arkansas, Idaho, Michigan and Minnesota. The activities of its Real Estate segment consist primarily of the sale of non-core timberlands in the categories of higher and better use (HBU), rural recreational real estate and non-strategic properties.

FINANCIAL RATIOS  of  PotlatchDeltic (PCH)

Valuation Ratios
P/E Ratio 135.7
Price to Sales 2.5
Price to Book 9.6
Price to Tangible Book
Price to Cash Flow 14.6
Price to Free Cash Flow 18
Growth Rates
Sales Growth Rate 4.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -42.4%
Cap. Spend. - 3 Yr. Gr. Rate -4.6%
Financial Strength
Quick Ratio 8
Current Ratio 0.2
LT Debt to Equity 367.3%
Total Debt to Equity 374.4%
Interest Coverage 1
Management Effectiveness
Return On Assets 5.7%
Ret/ On Assets - 3 Yr. Avg. 8.3%
Return On Total Capital 1.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.1%
Return On Equity 6.1%
Return On Equity - 3 Yr. Avg. 21%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 22.9%
Gross Margin - 3 Yr. Avg. 23.4%
EBITDA Margin 11.5%
EBITDA Margin - 3 Yr. Avg. 18%
Operating Margin 5.8%
Oper. Margin - 3 Yr. Avg. 12.7%
Pre-Tax Margin 1.2%
Pre-Tax Margin - 3 Yr. Avg. 7.9%
Net Profit Margin 1.8%
Net Profit Margin - 3 Yr. Avg. 7.4%
Effective Tax Rate -57.1%
Eff/ Tax Rate - 3 Yr. Avg. -20.7%
Payout Ratio 554.5%

PCH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PCH stock intrinsic value calculation we used $678.595 million for the last fiscal year's total revenue generated by PotlatchDeltic. The default revenue input number comes from 0001 income statement of PotlatchDeltic. 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 PCH stock valuation model: a) initial revenue growth rate of 60% 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 7.1%, whose default value for PCH is calculated based on our internal credit rating of PotlatchDeltic, 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 PotlatchDeltic.
    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 PCH stock the variable cost ratio is equal to 22.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $388 million in the base year in the intrinsic value calculation for PCH 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 5.4% for PotlatchDeltic.

Corporate tax rate of 27% is the nominal tax rate for PotlatchDeltic. 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 PCH 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 PCH are equal to 106.5%.

Life of production assets of 24.2 years is the average useful life of capital assets used in PotlatchDeltic 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 PCH is equal to 1.8%. 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 - $200.542 million for PotlatchDeltic - 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 40.611 million for PotlatchDeltic 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 PotlatchDeltic at the current share price and the inputted number of shares is $1.5 billion.

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COMPANY NEWS

▶ Potlatch: 3Q Earnings Snapshot   [06:41AM  Associated Press]
▶ Potlatch Corporation to Host Earnings Call   [Jul-31-18 10:00AM  ACCESSWIRE]
▶ Charts Suggest Timber and Forestry Stocks Set to Drop   [Jul-03-18 09:10AM  Investopedia]
▶ PotlatchDeltic Board Declares Distribution on Common Stock   [May-09-18 01:30PM  GlobeNewswire]
▶ Potlatch: 1Q Earnings Snapshot   [May-04-18 05:04AM  Associated Press]
▶ Edited Transcript of PCH presentation 8-Mar-17 4:00pm GMT   [Apr-10-18 01:32PM  Thomson Reuters StreetEvents]
▶ Top Ranked Income Stocks to Buy for March 29th   [Mar-29-18 07:49AM  Zacks]
▶ Potlatch and Deltic Timber Complete Merger   [Feb-20-18 06:20PM  GlobeNewswire]
▶ Tax-Favored Money Grows On Trees   [04:52PM  Forbes]
▶ Bull of the Day: Potlatch (PCH)   [06:47AM  Zacks]
▶ Potlatch Corporation to Host Earnings Call   [Jan-30-18 09:00AM  ACCESSWIRE]
▶ Potlatch misses 4Q profit forecasts   [05:03AM  Associated Press]
▶ Potlatch Earnings Preview   [12:40PM  Benzinga]
▶ 5 Best Stocks Worth Buying on Upgraded Broker Ratings   [Jan-08-18 03:00PM  InvestorPlace]
▶ Stocks With Rising Relative Strength: Potlatch   [03:00AM  Investor's Business Daily]
▶ Stocks With Rising Relative Strength: Potlatch   [03:00AM  Investor's Business Daily]
▶ How to Invest in Lumber   [Nov-27-17 08:10AM  Motley Fool]
▶ Why Potlatch (PCH) Stock Might be a Great Pick   [Nov-24-17 08:51AM  Zacks]
▶ Stocks With Rising Relative Price Strength: Potlatch   [Nov-02-17 03:00AM  Investor's Business Daily]

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