Intrinsic value of Prudential Financial - PRU

Previous Close

$95.70

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$95.70

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

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

We calculate the intrinsic value of PRU 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 40.6

 

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, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  60,883
  62,283
  63,884
  65,681
  67,672
  69,857
  72,236
  74,811
  77,586
  80,563
  83,749
  87,148
  90,767
  94,613
  98,694
  103,019
  107,598
  112,439
  117,555
  122,956
  128,655
  134,666
  141,001
  147,677
  154,707
  162,109
  169,900
  178,099
  186,724
  195,797
Variable operating expenses, $m
  11,020
  11,273
  11,563
  11,888
  12,249
  12,644
  13,075
  13,541
  14,043
  14,582
  15,159
  15,774
  16,429
  17,125
  17,864
  18,646
  19,475
  20,351
  21,277
  22,255
  23,287
  24,375
  25,521
  26,729
  28,002
  29,342
  30,752
  32,236
  33,797
  35,439
Fixed operating expenses, $m
  44,348
  45,323
  46,320
  47,339
  48,381
  49,445
  50,533
  51,645
  52,781
  53,942
  55,129
  56,342
  57,581
  58,848
  60,143
  61,466
  62,818
  64,200
  65,613
  67,056
  68,531
  70,039
  71,580
  73,155
  74,764
  76,409
  78,090
  79,808
  81,563
  83,358
Total operating expenses, $m
  55,368
  56,596
  57,883
  59,227
  60,630
  62,089
  63,608
  65,186
  66,824
  68,524
  70,288
  72,116
  74,010
  75,973
  78,007
  80,112
  82,293
  84,551
  86,890
  89,311
  91,818
  94,414
  97,101
  99,884
  102,766
  105,751
  108,842
  112,044
  115,360
  118,797
Operating income, $m
  5,515
  5,687
  6,000
  6,453
  7,042
  7,767
  8,628
  9,626
  10,762
  12,039
  13,461
  15,032
  16,757
  18,640
  20,688
  22,907
  25,304
  27,888
  30,665
  33,645
  36,838
  40,252
  43,900
  47,793
  51,941
  56,359
  61,059
  66,055
  71,364
  77,000
EBITDA, $m
  87,926
  89,993
  92,473
  95,359
  98,643
  102,326
  106,407
  110,890
  115,782
  121,090
  126,823
  132,995
  139,618
  146,708
  154,280
  162,354
  170,948
  180,085
  189,787
  200,078
  210,986
  222,536
  234,760
  247,687
  261,352
  275,789
  291,036
  307,130
  324,114
  342,030
Interest expense (income), $m
  1,257
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
  25,373
Earnings before tax, $m
  -19,858
  -19,686
  -19,373
  -18,920
  -18,331
  -17,606
  -16,745
  -15,747
  -14,611
  -13,334
  -11,912
  -10,341
  -8,616
  -6,733
  -4,685
  -2,466
  -69
  2,514
  5,292
  8,272
  11,465
  14,879
  18,527
  22,419
  26,568
  30,986
  35,686
  40,682
  45,991
  51,627
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  679
  1,429
  2,233
  3,095
  4,017
  5,002
  6,053
  7,173
  8,366
  9,635
  10,984
  12,417
  13,939
Net income, $m
  -19,858
  -19,686
  -19,373
  -18,920
  -18,331
  -17,606
  -16,745
  -15,747
  -14,611
  -13,334
  -11,912
  -10,341
  -8,616
  -6,733
  -4,685
  -2,466
  -69
  1,836
  3,863
  6,039
  8,369
  10,862
  13,525
  16,366
  19,395
  22,619
  26,050
  29,698
  33,573
  37,687

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
  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
Adjusted assets (=assets-cash), $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
Revenue / Adjusted assets
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Average production assets, $m
  824,109
  843,064
  864,731
  889,055
  916,009
  945,583
  977,786
  1,012,645
  1,050,200
  1,090,504
  1,133,622
  1,179,631
  1,228,618
  1,280,680
  1,335,924
  1,394,469
  1,456,440
  1,521,976
  1,591,221
  1,664,334
  1,741,480
  1,822,838
  1,908,594
  1,998,949
  2,094,113
  2,194,309
  2,299,771
  2,410,747
  2,527,500
  2,650,303
Working capital, $m
  -793,120
  -811,362
  -832,214
  -855,624
  -881,564
  -910,025
  -941,018
  -974,566
  -1,010,709
  -1,049,497
  -1,090,994
  -1,135,273
  -1,182,417
  -1,232,522
  -1,285,689
  -1,342,032
  -1,401,673
  -1,464,744
  -1,531,386
  -1,601,749
  -1,675,994
  -1,754,293
  -1,836,824
  -1,923,782
  -2,015,367
  -2,111,795
  -2,213,292
  -2,320,095
  -2,432,457
  -2,550,643
Total debt, $m
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
  469,871
Total liabilities, $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 equity, $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 liabilities and equity, $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
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -19,858
  -19,686
  -19,373
  -18,920
  -18,331
  -17,606
  -16,745
  -15,747
  -14,611
  -13,334
  -11,912
  -10,341
  -8,616
  -6,733
  -4,685
  -2,466
  -69
  1,836
  3,863
  6,039
  8,369
  10,862
  13,525
  16,366
  19,395
  22,619
  26,050
  29,698
  33,573
  37,687
Depreciation, amort., depletion, $m
  82,411
  84,306
  86,473
  88,906
  91,601
  94,558
  97,779
  101,265
  105,020
  109,050
  113,362
  117,963
  122,862
  128,068
  133,592
  139,447
  145,644
  152,198
  159,122
  166,433
  174,148
  182,284
  190,859
  199,895
  209,411
  219,431
  229,977
  241,075
  252,750
  265,030
Funds from operations, $m
  62,553
  64,620
  67,100
  69,986
  73,270
  76,953
  81,034
  85,517
  90,409
  95,716
  101,450
  107,622
  114,245
  121,335
  128,907
  136,981
  145,575
  154,033
  162,985
  172,472
  182,517
  193,146
  204,384
  216,261
  228,806
  242,050
  256,028
  270,773
  286,323
  302,718
Change in working capital, $m
  -15,551
  -18,242
  -20,852
  -23,410
  -25,940
  -28,462
  -30,993
  -33,548
  -36,143
  -38,788
  -41,497
  -44,279
  -47,145
  -50,104
  -53,167
  -56,343
  -59,641
  -63,071
  -66,642
  -70,363
  -74,245
  -78,298
  -82,532
  -86,957
  -91,585
  -96,428
  -101,496
  -106,804
  -112,362
  -118,186
Cash from operations, $m
  78,105
  82,862
  87,952
  93,396
  99,210
  105,414
  112,026
  119,065
  126,551
  134,505
  142,947
  151,901
  161,390
  171,439
  182,074
  193,324
  205,216
  217,104
  229,627
  242,835
  256,763
  271,444
  286,916
  303,218
  320,391
  338,478
  357,524
  377,576
  398,685
  420,903
Maintenance CAPEX, $m
  -80,794
  -82,411
  -84,306
  -86,473
  -88,906
  -91,601
  -94,558
  -97,779
  -101,265
  -105,020
  -109,050
  -113,362
  -117,963
  -122,862
  -128,068
  -133,592
  -139,447
  -145,644
  -152,198
  -159,122
  -166,433
  -174,148
  -182,284
  -190,859
  -199,895
  -209,411
  -219,431
  -229,977
  -241,075
  -252,750
New CAPEX, $m
  -16,168
  -18,955
  -21,667
  -24,325
  -26,953
  -29,574
  -32,203
  -34,859
  -37,555
  -40,304
  -43,118
  -46,009
  -48,987
  -52,062
  -55,245
  -58,545
  -61,972
  -65,535
  -69,246
  -73,113
  -77,146
  -81,357
  -85,757
  -90,355
  -95,164
  -100,196
  -105,462
  -110,977
  -116,752
  -122,804
Cash from investing activities, $m
  -96,962
  -101,366
  -105,973
  -110,798
  -115,859
  -121,175
  -126,761
  -132,638
  -138,820
  -145,324
  -152,168
  -159,371
  -166,950
  -174,924
  -183,313
  -192,137
  -201,419
  -211,179
  -221,444
  -232,235
  -243,579
  -255,505
  -268,041
  -281,214
  -295,059
  -309,607
  -324,893
  -340,954
  -357,827
  -375,554
Free cash flow, $m
  -18,857
  -18,504
  -18,021
  -17,402
  -16,649
  -15,760
  -14,735
  -13,572
  -12,268
  -10,819
  -9,221
  -7,470
  -5,560
  -3,485
  -1,238
  1,187
  3,798
  5,925
  8,184
  10,601
  13,183
  15,938
  18,876
  22,004
  25,333
  28,871
  32,631
  36,623
  40,858
  45,350
Issuance/(repayment) of debt, $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
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  
  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 cash flow (excl. dividends), $m
  -18,857
  -18,504
  -18,021
  -17,402
  -16,649
  -15,760
  -14,735
  -13,572
  -12,268
  -10,819
  -9,221
  -7,470
  -5,560
  -3,485
  -1,238
  1,187
  3,798
  5,925
  8,184
  10,601
  13,183
  15,938
  18,876
  22,004
  25,333
  28,871
  32,631
  36,623
  40,858
  45,350
Retained Cash Flow (-), $m
  -19,858
  -19,686
  -19,373
  -18,920
  -18,331
  -17,606
  -16,745
  -15,747
  -14,611
  -13,334
  -11,912
  -10,341
  -8,616
  -6,733
  -4,685
  -2,466
  -69
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
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
  -19,858
  -19,686
  -19,373
  -18,920
  -18,331
  -17,606
  -16,745
  -15,747
  -14,611
  -13,334
  -11,912
  -10,341
  -8,616
  -6,733
  -4,685
  -1,279
  3,729
  5,925
  8,184
  10,601
  13,183
  15,938
  18,876
  22,004
  25,333
  28,871
  32,631
  36,623
  40,858
  45,350
Discount rate, %
  14.20
  14.91
  15.66
  16.44
  17.26
  18.12
  19.03
  19.98
  20.98
  22.03
  23.13
  24.29
  25.50
  26.78
  28.12
  29.52
  31.00
  32.55
  34.17
  35.88
  37.68
  39.56
  41.54
  43.62
  45.80
  48.09
  50.49
  53.02
  55.67
  58.45
PV of cash for distribution, $m
  -17,389
  -14,909
  -12,522
  -10,293
  -8,268
  -6,481
  -4,947
  -3,667
  -2,632
  -1,821
  -1,208
  -761
  -450
  -243
  -114
  -20
  38
  37
  31
  23
  16
  10
  6
  4
  2
  1
  1
  0
  0
  0
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

Prudential Financial, Inc., is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company's operations consists of four divisions, which together encompass seven segments. The U.S. Retirement Solutions and Investment Management division consists of Individual Annuities, Retirement and Asset Management segments. The U.S. Individual Life and Group Insurance division consists of Individual Life and Group Insurance segments. The International Insurance division consists of International Insurance segment. The Closed Block division consists of Closed Block segment. The Company has operations in the United States, Asia, Europe and Latin America.

FINANCIAL RATIOS  of  Prudential Financial (PRU)

Valuation Ratios
P/E Ratio 9.4
Price to Sales 0.7
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 2.8
Price to Free Cash Flow 2.8
Growth Rates
Sales Growth Rate 3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 39.3%
Total Debt to Equity 46.5%
Interest Coverage 6
Management Effectiveness
Return On Assets 0.7%
Ret/ On Assets - 3 Yr. Avg. 0.6%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 5.4%
Return On Equity 10%
Return On Equity - 3 Yr. Avg. 9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 12.1%
Operating Margin 9.7%
Oper. Margin - 3 Yr. Avg. 8.8%
Pre-Tax Margin 9.7%
Pre-Tax Margin - 3 Yr. Avg. 8.8%
Net Profit Margin 7.4%
Net Profit Margin - 3 Yr. Avg. 6.6%
Effective Tax Rate 23.4%
Eff/ Tax Rate - 3 Yr. Avg. 23.3%
Payout Ratio 29.8%

PRU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PRU stock intrinsic value calculation we used $59689 million for the last fiscal year's total revenue generated by Prudential Financial. The default revenue input number comes from 2017 income statement of Prudential Financial. 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 PRU stock valuation model: a) initial revenue growth rate of 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 14.2%, whose default value for PRU is calculated based on our internal credit rating of Prudential Financial, 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 Prudential Financial.
    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 PRU stock the variable cost ratio is equal to 18.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $43393 million in the base year in the intrinsic value calculation for PRU 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 Prudential Financial.

Corporate tax rate of 27% is the nominal tax rate for Prudential Financial. 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 PRU 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 PRU are equal to 1353.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Prudential Financial 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 PRU is equal to -1302.7%. 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 - $0 million for Prudential Financial - 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 424 million for Prudential Financial 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 Prudential Financial at the current share price and the inputted number of shares is $40.6 billion.

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