Intrinsic value of Parker Hannifin - PH

Previous Close

$163.47

  Intrinsic Value

$158.29

stock screener

  Rating & Target

hold

-3%

Previous close

$163.47

 
Intrinsic value

$158.29

 
Up/down potential

-3%

 
Rating

hold

We calculate the intrinsic value of PH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 21.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
  5.25
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
Revenue, $m
  12,739
  13,479
  14,251
  15,057
  15,899
  16,778
  17,697
  18,659
  19,664
  20,715
  21,816
  22,969
  24,175
  25,440
  26,764
  28,152
  29,606
  31,131
  32,730
  34,406
  36,164
  38,008
  39,942
  41,971
  44,099
  46,333
  48,676
  51,136
  53,716
  56,425
Variable operating expenses, $m
  8,119
  8,545
  8,989
  9,453
  9,937
  10,443
  10,972
  11,525
  12,103
  12,709
  12,553
  13,216
  13,910
  14,637
  15,399
  16,198
  17,035
  17,912
  18,832
  19,796
  20,808
  21,869
  22,981
  24,149
  25,374
  26,659
  28,007
  29,422
  30,907
  32,466
Fixed operating expenses, $m
  3,023
  3,090
  3,158
  3,227
  3,298
  3,371
  3,445
  3,521
  3,598
  3,677
  3,758
  3,841
  3,925
  4,012
  4,100
  4,190
  4,282
  4,376
  4,473
  4,571
  4,672
  4,774
  4,879
  4,987
  5,096
  5,209
  5,323
  5,440
  5,560
  5,682
Total operating expenses, $m
  11,142
  11,635
  12,147
  12,680
  13,235
  13,814
  14,417
  15,046
  15,701
  16,386
  16,311
  17,057
  17,835
  18,649
  19,499
  20,388
  21,317
  22,288
  23,305
  24,367
  25,480
  26,643
  27,860
  29,136
  30,470
  31,868
  33,330
  34,862
  36,467
  38,148
Operating income, $m
  1,597
  1,844
  2,104
  2,377
  2,664
  2,965
  3,281
  3,613
  3,962
  4,330
  5,506
  5,912
  6,340
  6,791
  7,265
  7,764
  8,289
  8,843
  9,425
  10,039
  10,684
  11,365
  12,081
  12,835
  13,629
  14,465
  15,346
  16,273
  17,249
  18,277
EBITDA, $m
  3,192
  3,487
  3,796
  4,120
  4,459
  4,816
  5,190
  5,583
  5,996
  6,430
  6,887
  7,366
  7,871
  8,401
  8,959
  9,546
  10,163
  10,813
  11,497
  12,216
  12,974
  13,770
  14,609
  15,492
  16,421
  17,398
  18,427
  19,510
  20,650
  21,849
Interest expense (income), $m
  132
  317
  349
  383
  418
  455
  494
  534
  576
  621
  667
  715
  765
  818
  874
  932
  992
  1,056
  1,123
  1,193
  1,266
  1,343
  1,423
  1,508
  1,597
  1,690
  1,787
  1,890
  1,997
  2,110
  2,229
Earnings before tax, $m
  1,280
  1,495
  1,721
  1,959
  2,208
  2,471
  2,746
  3,037
  3,342
  3,663
  4,791
  5,147
  5,522
  5,917
  6,333
  6,772
  7,233
  7,720
  8,233
  8,773
  9,342
  9,941
  10,573
  11,238
  11,939
  12,678
  13,456
  14,276
  15,139
  16,049
Tax expense, $m
  346
  404
  465
  529
  596
  667
  742
  820
  902
  989
  1,294
  1,390
  1,491
  1,598
  1,710
  1,828
  1,953
  2,084
  2,223
  2,369
  2,522
  2,684
  2,855
  3,034
  3,224
  3,423
  3,633
  3,854
  4,088
  4,333
Net income, $m
  934
  1,092
  1,257
  1,430
  1,612
  1,804
  2,005
  2,217
  2,440
  2,674
  3,497
  3,757
  4,031
  4,320
  4,623
  4,943
  5,280
  5,636
  6,010
  6,404
  6,819
  7,257
  7,718
  8,204
  8,716
  9,255
  9,823
  10,421
  11,052
  11,715

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
  16,395
  17,347
  18,341
  19,378
  20,462
  21,594
  22,777
  24,014
  25,307
  26,661
  28,078
  29,561
  31,114
  32,741
  34,445
  36,231
  38,103
  40,066
  42,123
  44,280
  46,543
  48,916
  51,405
  54,016
  56,756
  59,630
  62,647
  65,812
  69,133
  72,619
Adjusted assets (=assets-cash), $m
  16,395
  17,347
  18,341
  19,378
  20,462
  21,594
  22,777
  24,014
  25,307
  26,661
  28,078
  29,561
  31,114
  32,741
  34,445
  36,231
  38,103
  40,066
  42,123
  44,280
  46,543
  48,916
  51,405
  54,016
  56,756
  59,630
  62,647
  65,812
  69,133
  72,619
Revenue / Adjusted assets
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
  0.777
Average production assets, $m
  8,064
  8,532
  9,021
  9,531
  10,064
  10,621
  11,202
  11,811
  12,447
  13,113
  13,810
  14,539
  15,303
  16,103
  16,942
  17,820
  18,741
  19,706
  20,718
  21,779
  22,892
  24,059
  25,283
  26,567
  27,915
  29,329
  30,812
  32,369
  34,003
  35,717
Working capital, $m
  268
  283
  299
  316
  334
  352
  372
  392
  413
  435
  458
  482
  508
  534
  562
  591
  622
  654
  687
  723
  759
  798
  839
  881
  926
  973
  1,022
  1,074
  1,128
  1,185
Total debt, $m
  6,463
  7,092
  7,748
  8,432
  9,147
  9,894
  10,675
  11,491
  12,345
  13,239
  14,174
  15,153
  16,178
  17,251
  18,376
  19,555
  20,791
  22,086
  23,444
  24,868
  26,361
  27,927
  29,570
  31,293
  33,101
  34,998
  36,989
  39,078
  41,270
  43,571
Total liabilities, $m
  10,821
  11,449
  12,105
  12,790
  13,505
  14,252
  15,033
  15,849
  16,703
  17,596
  18,531
  19,510
  20,535
  21,609
  22,734
  23,913
  25,148
  26,443
  27,801
  29,225
  30,718
  32,284
  33,927
  35,651
  37,459
  39,356
  41,347
  43,436
  45,628
  47,929
Total equity, $m
  5,574
  5,898
  6,236
  6,589
  6,957
  7,342
  7,744
  8,165
  8,604
  9,065
  9,546
  10,051
  10,579
  11,132
  11,711
  12,319
  12,955
  13,622
  14,322
  15,055
  15,825
  16,631
  17,478
  18,366
  19,297
  20,274
  21,300
  22,376
  23,505
  24,691
Total liabilities and equity, $m
  16,395
  17,347
  18,341
  19,379
  20,462
  21,594
  22,777
  24,014
  25,307
  26,661
  28,077
  29,561
  31,114
  32,741
  34,445
  36,232
  38,103
  40,065
  42,123
  44,280
  46,543
  48,915
  51,405
  54,017
  56,756
  59,630
  62,647
  65,812
  69,133
  72,620
Debt-to-equity ratio
  1.160
  1.200
  1.240
  1.280
  1.310
  1.350
  1.380
  1.410
  1.430
  1.460
  1.480
  1.510
  1.530
  1.550
  1.570
  1.590
  1.600
  1.620
  1.640
  1.650
  1.670
  1.680
  1.690
  1.700
  1.720
  1.730
  1.740
  1.750
  1.760
  1.760
Adjusted equity ratio
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340
  0.340

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  934
  1,092
  1,257
  1,430
  1,612
  1,804
  2,005
  2,217
  2,440
  2,674
  3,497
  3,757
  4,031
  4,320
  4,623
  4,943
  5,280
  5,636
  6,010
  6,404
  6,819
  7,257
  7,718
  8,204
  8,716
  9,255
  9,823
  10,421
  11,052
  11,715
Depreciation, amort., depletion, $m
  1,596
  1,643
  1,691
  1,743
  1,796
  1,851
  1,910
  1,970
  2,034
  2,101
  1,381
  1,454
  1,530
  1,610
  1,694
  1,782
  1,874
  1,971
  2,072
  2,178
  2,289
  2,406
  2,528
  2,657
  2,791
  2,933
  3,081
  3,237
  3,400
  3,572
Funds from operations, $m
  2,530
  2,734
  2,948
  3,172
  3,408
  3,655
  3,914
  4,187
  4,474
  4,775
  4,878
  5,211
  5,561
  5,930
  6,317
  6,725
  7,154
  7,606
  8,082
  8,582
  9,109
  9,663
  10,246
  10,861
  11,507
  12,188
  12,904
  13,658
  14,452
  15,287
Change in working capital, $m
  15
  16
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  25
  27
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  49
  52
  54
  57
Cash from operations, $m
  2,515
  2,719
  2,932
  3,156
  3,390
  3,636
  3,895
  4,167
  4,453
  4,753
  4,855
  5,187
  5,536
  5,903
  6,290
  6,696
  7,124
  7,574
  8,048
  8,547
  9,072
  9,624
  10,206
  10,818
  11,462
  12,141
  12,855
  13,607
  14,398
  15,230
Maintenance CAPEX, $m
  -761
  -806
  -853
  -902
  -953
  -1,006
  -1,062
  -1,120
  -1,181
  -1,245
  -1,311
  -1,381
  -1,454
  -1,530
  -1,610
  -1,694
  -1,782
  -1,874
  -1,971
  -2,072
  -2,178
  -2,289
  -2,406
  -2,528
  -2,657
  -2,791
  -2,933
  -3,081
  -3,237
  -3,400
New CAPEX, $m
  -451
  -468
  -489
  -510
  -533
  -557
  -582
  -608
  -636
  -666
  -697
  -729
  -764
  -800
  -838
  -878
  -921
  -965
  -1,012
  -1,061
  -1,113
  -1,167
  -1,224
  -1,284
  -1,347
  -1,414
  -1,483
  -1,557
  -1,634
  -1,715
Cash from investing activities, $m
  -1,212
  -1,274
  -1,342
  -1,412
  -1,486
  -1,563
  -1,644
  -1,728
  -1,817
  -1,911
  -2,008
  -2,110
  -2,218
  -2,330
  -2,448
  -2,572
  -2,703
  -2,839
  -2,983
  -3,133
  -3,291
  -3,456
  -3,630
  -3,812
  -4,004
  -4,205
  -4,416
  -4,638
  -4,871
  -5,115
Free cash flow, $m
  1,303
  1,444
  1,590
  1,743
  1,904
  2,073
  2,251
  2,438
  2,635
  2,842
  2,847
  3,077
  3,318
  3,573
  3,841
  4,124
  4,421
  4,735
  5,065
  5,414
  5,781
  6,168
  6,576
  7,005
  7,458
  7,936
  8,439
  8,969
  9,527
  10,115
Issuance/(repayment) of debt, $m
  593
  629
  656
  685
  715
  747
  781
  816
  854
  893
  935
  979
  1,025
  1,074
  1,125
  1,179
  1,236
  1,295
  1,358
  1,424
  1,493
  1,566
  1,643
  1,723
  1,808
  1,897
  1,991
  2,089
  2,192
  2,301
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  
  593
  629
  656
  685
  715
  747
  781
  816
  854
  893
  935
  979
  1,025
  1,074
  1,125
  1,179
  1,236
  1,295
  1,358
  1,424
  1,493
  1,566
  1,643
  1,723
  1,808
  1,897
  1,991
  2,089
  2,192
  2,301
Total cash flow (excl. dividends), $m
  1,895
  2,073
  2,246
  2,428
  2,619
  2,820
  3,032
  3,255
  3,489
  3,736
  3,782
  4,055
  4,343
  4,647
  4,966
  5,302
  5,657
  6,030
  6,423
  6,838
  7,274
  7,734
  8,218
  8,729
  9,266
  9,833
  10,429
  11,058
  11,719
  12,416
Retained Cash Flow (-), $m
  -312
  -324
  -338
  -353
  -368
  -385
  -402
  -421
  -440
  -460
  -482
  -504
  -528
  -553
  -580
  -607
  -636
  -667
  -700
  -734
  -769
  -807
  -846
  -888
  -931
  -977
  -1,026
  -1,076
  -1,129
  -1,185
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
  84
  89
  94
  100
  105
  111
  117
  124
  131
  138
  145
  153
  161
  169
  178
  187
  197
  207
  218
  229
  241
  253
  266
  280
  294
  309
  324
  341
  358
  376
Cash available for distribution, $m
  1,583
  1,749
  1,908
  2,075
  2,251
  2,436
  2,630
  2,834
  3,049
  3,275
  3,300
  3,551
  3,815
  4,093
  4,386
  4,695
  5,020
  5,363
  5,724
  6,104
  6,505
  6,927
  7,372
  7,841
  8,335
  8,855
  9,404
  9,981
  10,590
  11,231
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
  1,481
  1,520
  1,531
  1,526
  1,505
  1,468
  1,416
  1,350
  1,273
  1,185
  1,023
  931
  836
  739
  643
  550
  462
  382
  309
  245
  191
  145
  107
  78
  55
  38
  25
  16
  10
  6
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

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. The Diversified Industrial Segment consists of Automation Group, Engineered Materials Group, Filtration Group, Fluid Connectors Group, Hydraulics Group and Instrumentation Group. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on domestic commercial, military and general aviation aircrafts.

FINANCIAL RATIOS  of  Parker Hannifin (PH)

Valuation Ratios
P/E Ratio 22.1
Price to Sales 1.8
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 16.7
Price to Free Cash Flow 19.8
Growth Rates
Sales Growth Rate 5.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 36.9%
Cap. Spend. - 3 Yr. Gr. Rate -1.1%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 92.4%
Total Debt to Equity 111.6%
Interest Coverage 11
Management Effectiveness
Return On Assets 7.9%
Ret/ On Assets - 3 Yr. Avg. 7.9%
Return On Total Capital 10.5%
Ret/ On T. Cap. - 3 Yr. Avg. 10.9%
Return On Equity 20%
Return On Equity - 3 Yr. Avg. 18%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 23.9%
Gross Margin - 3 Yr. Avg. 23.7%
EBITDA Margin 15.1%
EBITDA Margin - 3 Yr. Avg. 14.5%
Operating Margin 11%
Oper. Margin - 3 Yr. Avg. 10.7%
Pre-Tax Margin 11%
Pre-Tax Margin - 3 Yr. Avg. 10.7%
Net Profit Margin 8.2%
Net Profit Margin - 3 Yr. Avg. 7.7%
Effective Tax Rate 26%
Eff/ Tax Rate - 3 Yr. Avg. 27.6%
Payout Ratio 35.1%

PH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PH stock intrinsic value calculation we used $12029 million for the last fiscal year's total revenue generated by Parker Hannifin. The default revenue input number comes from 2017 income statement of Parker Hannifin. 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 PH stock valuation model: a) initial revenue growth rate of 5.9% 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 PH is calculated based on our internal credit rating of Parker Hannifin, 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 Parker Hannifin.
    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 PH stock the variable cost ratio is equal to 64.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2958 million in the base year in the intrinsic value calculation for PH 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 Parker Hannifin.

Corporate tax rate of 27% is the nominal tax rate for Parker Hannifin. 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 PH stock is equal to 0.7%.

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 PH are equal to 63.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Parker Hannifin 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 PH is equal to 2.1%. 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 - $5262 million for Parker Hannifin - 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 133 million for Parker Hannifin 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 Parker Hannifin at the current share price and the inputted number of shares is $21.7 billion.

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COMPANY NEWS

▶ Rockwell Automation, Parker Hannifin Slump on Downgrades   [Jul-16-18 10:38AM  Barrons.com]
▶ Parker-Hannifin: Fiscal 3Q Earnings Snapshot   [07:50AM  Associated Press]
▶ Parker Increases Quarterly Cash Dividend   [Apr-19-18 04:10PM  GlobeNewswire]
▶ Cramer Remix: Its not too late to sell and raise cash   [Mar-19-18 07:03PM  CNBC Videos]
▶ Parker-Hannifin's 5-Year Outlook Impresses Analysts   [Mar-08-18 03:52PM  Benzinga]
▶ 3 Top Industrial Machinery Stocks to Buy   [Feb-06-18 08:15AM  Motley Fool]
▶ Parker-Hannifin beats Street 2Q forecasts   [07:49AM  Associated Press]
▶ Parker Declares Quarterly Cash Dividend   [Jan-25-18 05:00PM  GlobeNewswire]
▶ Parker-Hannifin Is Pounding Out Singles   [08:31AM  TheStreet.com]
▶ Composite Rating For Parker-Hannifin Rises To 96   [Dec-14-17 03:00AM  Investor's Business Daily]
▶ 36 Top Funds Just Bought Shares In This Potential Breakout Stock   [Dec-12-17 04:08PM  Investor's Business Daily]
▶ Raise Stops to Lock in Gains on Parker Hannifin   [Dec-05-17 12:42PM  TheStreet.com]
▶ New Strong Buy Stocks for November 30th   [Nov-30-17 08:01AM  Zacks]
▶ Parker-Hannifin Sees Its Composite Rating Rise To 96   [03:00AM  Investor's Business Daily]
▶ Parker-Hannifin beats Street 1Q forecasts   [Nov-02-17 07:51AM  Associated Press]
▶ Parker Declares Quarterly Cash Dividend   [Oct-25-17 05:05PM  GlobeNewswire]
▶ Parkers New GlobalCore 187 High Performance Hydraulic Hose   [Oct-09-17 06:06PM  Business Wire]
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