Intrinsic value of Preformed Line Products - PLPC

Previous Close

$73.10

  Intrinsic Value

$10.14

stock screener

  Rating & Target

str. sell

-86%

  Value-price divergence*

-77%

Previous close

$73.10

 
Intrinsic value

$10.14

 
Up/down potential

-86%

 
Rating

str. sell

 
Value-price divergence*

-77%

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

We calculate the intrinsic value of PLPC 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 0.4

 

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, %
  -5.07
  18.10
  16.79
  15.61
  14.55
  13.59
  12.74
  11.96
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.18
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.04
  5.94
  5.85
  5.76
  5.69
  5.62
Revenue, $m
  337
  398
  465
  537
  616
  699
  788
  883
  982
  1,087
  1,196
  1,310
  1,430
  1,554
  1,684
  1,818
  1,958
  2,104
  2,255
  2,412
  2,575
  2,745
  2,922
  3,105
  3,297
  3,496
  3,704
  3,920
  4,146
  4,382
  4,628
Variable operating expenses, $m
 
  383
  447
  517
  592
  672
  758
  848
  944
  1,044
  1,149
  1,257
  1,372
  1,491
  1,615
  1,744
  1,878
  2,018
  2,163
  2,314
  2,470
  2,633
  2,803
  2,979
  3,162
  3,354
  3,553
  3,760
  3,977
  4,203
  4,439
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
  315
  383
  447
  517
  592
  672
  758
  848
  944
  1,044
  1,149
  1,257
  1,372
  1,491
  1,615
  1,744
  1,878
  2,018
  2,163
  2,314
  2,470
  2,633
  2,803
  2,979
  3,162
  3,354
  3,553
  3,760
  3,977
  4,203
  4,439
Operating income, $m
  21
  15
  17
  20
  23
  27
  31
  34
  38
  43
  47
  53
  58
  63
  69
  74
  80
  86
  92
  98
  105
  112
  119
  127
  134
  142
  151
  160
  169
  179
  189
EBITDA, $m
  33
  29
  33
  39
  44
  50
  57
  63
  71
  78
  86
  94
  103
  112
  121
  131
  141
  151
  162
  173
  185
  197
  210
  223
  237
  251
  266
  281
  298
  315
  332
Interest expense (income), $m
  1
  2
  2
  3
  4
  5
  6
  7
  8
  9
  10
  12
  13
  15
  16
  18
  19
  21
  23
  24
  26
  28
  30
  32
  35
  37
  39
  42
  44
  47
  50
Earnings before tax, $m
  21
  13
  15
  17
  20
  22
  25
  27
  30
  33
  37
  42
  45
  49
  53
  56
  61
  65
  69
  74
  79
  84
  89
  94
  100
  106
  112
  118
  125
  132
  139
Tax expense, $m
  6
  4
  4
  5
  5
  6
  7
  7
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  19
  20
  21
  23
  24
  25
  27
  29
  30
  32
  34
  36
  37
Net income, $m
  15
  10
  11
  13
  14
  16
  18
  20
  22
  24
  27
  30
  33
  36
  38
  41
  44
  47
  51
  54
  57
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  31
  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
  341
  366
  428
  494
  566
  643
  725
  812
  903
  1,000
  1,100
  1,206
  1,315
  1,430
  1,549
  1,673
  1,802
  1,935
  2,074
  2,219
  2,369
  2,525
  2,688
  2,857
  3,033
  3,216
  3,407
  3,606
  3,814
  4,031
  4,257
Adjusted assets (=assets-cash), $m
  310
  366
  428
  494
  566
  643
  725
  812
  903
  1,000
  1,100
  1,206
  1,315
  1,430
  1,549
  1,673
  1,802
  1,935
  2,074
  2,219
  2,369
  2,525
  2,688
  2,857
  3,033
  3,216
  3,407
  3,606
  3,814
  4,031
  4,257
Revenue / Adjusted assets
  1.087
  1.087
  1.086
  1.087
  1.088
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.086
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
  1.087
Average production assets, $m
  109
  129
  150
  174
  199
  226
  255
  285
  317
  351
  386
  423
  462
  502
  544
  587
  633
  679
  728
  779
  832
  887
  944
  1,003
  1,065
  1,129
  1,196
  1,266
  1,339
  1,415
  1,495
Working capital, $m
  134
  124
  145
  168
  192
  218
  246
  275
  306
  339
  373
  409
  446
  485
  525
  567
  611
  656
  704
  753
  803
  856
  912
  969
  1,029
  1,091
  1,156
  1,223
  1,294
  1,367
  1,444
Total debt, $m
  46
  65
  88
  112
  139
  168
  198
  230
  264
  300
  337
  376
  417
  459
  504
  550
  597
  647
  699
  752
  808
  866
  926
  989
  1,054
  1,122
  1,193
  1,267
  1,344
  1,425
  1,509
Total liabilities, $m
  117
  136
  159
  183
  210
  239
  269
  301
  335
  371
  408
  447
  488
  530
  575
  621
  668
  718
  770
  823
  879
  937
  997
  1,060
  1,125
  1,193
  1,264
  1,338
  1,415
  1,496
  1,580
Total equity, $m
  224
  230
  269
  311
  356
  405
  456
  511
  568
  629
  692
  758
  827
  899
  974
  1,052
  1,133
  1,217
  1,305
  1,396
  1,490
  1,588
  1,691
  1,797
  1,908
  2,023
  2,143
  2,268
  2,399
  2,536
  2,678
Total liabilities and equity, $m
  341
  366
  428
  494
  566
  644
  725
  812
  903
  1,000
  1,100
  1,205
  1,315
  1,429
  1,549
  1,673
  1,801
  1,935
  2,075
  2,219
  2,369
  2,525
  2,688
  2,857
  3,033
  3,216
  3,407
  3,606
  3,814
  4,032
  4,258
Debt-to-equity ratio
  0.205
  0.280
  0.330
  0.360
  0.390
  0.410
  0.430
  0.450
  0.460
  0.480
  0.490
  0.500
  0.500
  0.510
  0.520
  0.520
  0.530
  0.530
  0.540
  0.540
  0.540
  0.550
  0.550
  0.550
  0.550
  0.550
  0.560
  0.560
  0.560
  0.560
  0.560
Adjusted equity ratio
  0.626
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629
  0.629

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  15
  10
  11
  13
  14
  16
  18
  20
  22
  24
  27
  30
  33
  36
  38
  41
  44
  47
  51
  54
  57
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101
Depreciation, amort., depletion, $m
  12
  14
  16
  18
  21
  23
  26
  29
  32
  35
  39
  41
  44
  48
  52
  56
  61
  65
  70
  75
  80
  85
  91
  96
  102
  109
  115
  122
  129
  136
  144
Funds from operations, $m
  16
  24
  27
  31
  35
  39
  44
  49
  54
  60
  65
  71
  77
  84
  91
  98
  105
  113
  121
  129
  137
  146
  156
  165
  175
  186
  197
  208
  220
  232
  245
Change in working capital, $m
  -10
  19
  21
  23
  24
  26
  28
  29
  31
  33
  34
  36
  37
  39
  40
  42
  44
  45
  47
  49
  51
  53
  55
  57
  60
  62
  65
  68
  70
  74
  77
Cash from operations, $m
  26
  4
  6
  8
  11
  13
  16
  20
  23
  27
  31
  35
  40
  45
  50
  56
  61
  67
  73
  80
  86
  93
  100
  108
  115
  123
  132
  140
  149
  159
  168
Maintenance CAPEX, $m
  0
  -10
  -12
  -14
  -17
  -19
  -22
  -24
  -27
  -30
  -34
  -37
  -41
  -44
  -48
  -52
  -56
  -61
  -65
  -70
  -75
  -80
  -85
  -91
  -96
  -102
  -109
  -115
  -122
  -129
  -136
New CAPEX, $m
  -25
  -20
  -22
  -23
  -25
  -27
  -29
  -30
  -32
  -34
  -35
  -37
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -59
  -62
  -64
  -67
  -70
  -73
  -76
  -79
Cash from investing activities, $m
  -28
  -30
  -34
  -37
  -42
  -46
  -51
  -54
  -59
  -64
  -69
  -74
  -80
  -84
  -90
  -95
  -101
  -108
  -114
  -121
  -128
  -135
  -142
  -150
  -158
  -166
  -176
  -185
  -195
  -205
  -215
Free cash flow, $m
  -2
  -26
  -28
  -30
  -31
  -33
  -34
  -35
  -36
  -37
  -38
  -39
  -39
  -40
  -40
  -40
  -40
  -41
  -41
  -41
  -41
  -42
  -42
  -42
  -43
  -43
  -44
  -45
  -45
  -46
  -47
Issuance/(repayment) of debt, $m
  13
  21
  23
  25
  27
  29
  30
  32
  34
  36
  37
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  58
  60
  63
  65
  68
  71
  74
  77
  80
  84
Issuance/(repurchase) of shares, $m
  -5
  26
  28
  29
  31
  32
  34
  35
  35
  36
  37
  36
  36
  36
  37
  37
  37
  37
  37
  37
  37
  37
  37
  38
  38
  38
  39
  39
  40
  40
  41
Cash from financing (excl. dividends), $m  
  8
  47
  51
  54
  58
  61
  64
  67
  69
  72
  74
  75
  77
  78
  81
  83
  85
  87
  89
  91
  93
  95
  97
  101
  103
  106
  110
  113
  117
  120
  125
Total cash flow (excl. dividends), $m
  4
  21
  23
  25
  26
  28
  30
  31
  33
  35
  36
  36
  38
  39
  41
  43
  44
  46
  48
  50
  52
  54
  56
  58
  60
  63
  66
  68
  71
  74
  78
Retained Cash Flow (-), $m
  -5
  -35
  -39
  -42
  -45
  -48
  -52
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -75
  -78
  -81
  -84
  -87
  -91
  -94
  -98
  -102
  -106
  -111
  -115
  -120
  -125
  -131
  -136
  -142
Prev. year cash balance distribution, $m
 
  29
  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
 
  15
  -16
  -17
  -19
  -20
  -22
  -23
  -25
  -26
  -27
  -30
  -31
  -33
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -46
  -48
  -50
  -52
  -55
  -57
  -59
  -62
  -65
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  14
  -15
  -15
  -16
  -16
  -16
  -16
  -15
  -15
  -14
  -14
  -13
  -12
  -11
  -10
  -9
  -8
  -7
  -6
  -5
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  92.7
  86.5
  81.2
  76.6
  72.7
  69.2
  66.2
  63.6
  61.3
  59.2
  57.4
  55.8
  54.4
  53.1
  52.0
  50.9
  49.9
  49.0
  48.2
  47.5
  46.8
  46.1
  45.5
  44.9
  44.4
  43.9
  43.4
  43.0
  42.6
  42.1

Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company's products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products. The Company operates through four segments: PLP-USA (including corporate), The Americas (includes operations in North and South America without PLP-USA), EMEA (Europe, Middle East and Africa) and Asia-Pacific. The Company's PLP-USA segment consists of its United States operations manufacturing its traditional products primarily supporting its domestic energy, telecommunications and solar products. Its other three segments, The Americas, EMEA and Asia-Pacific, support its energy, telecommunications, data communication and solar products in each respective geographical region.

FINANCIAL RATIOS  of  Preformed Line Products (PLPC)

Valuation Ratios
P/E Ratio 25
Price to Sales 1.1
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 14.4
Price to Free Cash Flow 374.3
Growth Rates
Sales Growth Rate -5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 127.3%
Cap. Spend. - 3 Yr. Gr. Rate 3.5%
Financial Strength
Quick Ratio 16
Current Ratio 0.1
LT Debt to Equity 19.6%
Total Debt to Equity 20.5%
Interest Coverage 22
Management Effectiveness
Return On Assets 4.7%
Ret/ On Assets - 3 Yr. Avg. 3.6%
Return On Total Capital 5.8%
Ret/ On T. Cap. - 3 Yr. Avg. 4.4%
Return On Equity 6.8%
Return On Equity - 3 Yr. Avg. 5%
Asset Turnover 1
Profitability Ratios
Gross Margin 32.3%
Gross Margin - 3 Yr. Avg. 30.8%
EBITDA Margin 10.1%
EBITDA Margin - 3 Yr. Avg. 8.7%
Operating Margin 6.5%
Oper. Margin - 3 Yr. Avg. 5.2%
Pre-Tax Margin 6.2%
Pre-Tax Margin - 3 Yr. Avg. 5%
Net Profit Margin 4.5%
Net Profit Margin - 3 Yr. Avg. 3.3%
Effective Tax Rate 28.6%
Eff/ Tax Rate - 3 Yr. Avg. 36.1%
Payout Ratio 26.7%

PLPC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PLPC stock intrinsic value calculation we used $337 million for the last fiscal year's total revenue generated by Preformed Line Products. The default revenue input number comes from 2016 income statement of Preformed Line Products. 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 PLPC stock valuation model: a) initial revenue growth rate of 18.1% 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 4.3%, whose default value for PLPC is calculated based on our internal credit rating of Preformed Line Products, 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 Preformed Line Products.
    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 PLPC stock the variable cost ratio is equal to 96.4%.

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 PLPC 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 3.5% for Preformed Line Products.

Corporate tax rate of 27% is the nominal tax rate for Preformed Line Products. 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 PLPC 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 PLPC are equal to 32.3%.

Life of production assets of 10.4 years is the average useful life of capital assets used in Preformed Line Products 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 PLPC is equal to 31.2%. 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 - $224 million for Preformed Line Products - 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 5.127 million for Preformed Line Products 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 Preformed Line Products at the current share price and the inputted number of shares is $0.4 billion.

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COMPANY NEWS

▶ Preformed Line Products Announces Quarterly Dividend   [Sep-20-17 12:49PM  PR Newswire]
▶ Preformed Line posts 2Q profit   [Aug-04-17 11:18PM  Associated Press]
▶ POWER DISK Mounts Solar Modules Anywhere on the Roof   [Jul-10-17 12:00PM  PR Newswire]
▶ Preformed Line Products Announces Quarterly Dividend   [Jun-20-17 09:25AM  PR Newswire]
▶ Preformed Line posts 1Q profit   [May-05-17 08:10AM  Associated Press]
▶ Preformed Line Products Goes Platinum   [Apr-26-17 03:41PM  PR Newswire]
▶ Preformed Line posts 4Q profit   [Mar-10-17 08:12AM  Associated Press]
▶ Preformed Line Products Announces Quarterly Dividend   [Dec-20-16 09:07AM  PR Newswire]
▶ Preformed Line Products Announces Quarterly Dividend   [Sep-14-16 10:20AM  PR Newswire]
▶ Preformed Line Products Announces Quarterly Dividend   [Jun-17-16 08:49AM  PR Newswire]
▶ Preformed Line Products (PLP) Announces Website Redesign   [Apr-11-16 03:47PM  PR Newswire]
▶ Preformed Line Products Announces Quarterly Dividend   [Mar-22-16 09:20AM  PR Newswire]
▶ Preformed Line Products Announces Quarterly Dividend   [Dec-10  10:05AM  PR Newswire]
▶ Solar firm to lay off more than 50 Albuquerque employees   [Oct-22  09:15AM  at bizjournals.com]
▶ Preformed Line Products Announces Quarterly Dividend   [Sep-14  09:11AM  PR Newswire]
▶ 10-Q for Preformed Line Products Co.   [Aug-09  08:13PM  at Company Spotlight]
▶ Preformed Line Products Announces Quarterly Dividend   [Jun-12  09:15AM  PR Newswire]
▶ 10-Q for Preformed Line Products Co.   [May-07  08:09PM  at Company Spotlight]
▶ 10-K for Preformed Line Products Co.   [May-06  08:12PM  at Company Spotlight]
▶ PLP Announces Quarterly Dividend 4-20-15   [Mar-19  02:30PM  at noodls]
Financial statements of PLPC
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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