Intrinsic value of Ring Energy - REI

Previous Close

$7.18

  Intrinsic Value

$1.48

stock screener

  Rating & Target

str. sell

-79%

Previous close

$7.18

 
Intrinsic value

$1.48

 
Up/down potential

-79%

 
Rating

str. sell

We calculate the intrinsic value of REI 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 0.4

 

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
  107
  165
  247
  358
  505
  694
  931
  1,223
  1,574
  1,988
  2,468
  3,018
  3,638
  4,328
  5,089
  5,920
  6,819
  7,785
  8,817
  9,913
  11,072
  12,292
  13,572
  14,912
  16,312
  17,772
  19,292
  20,874
  22,518
  24,228
Variable operating expenses, $m
  304
  470
  703
  1,020
  1,439
  1,978
  2,656
  3,487
  4,487
  5,667
  7,038
  8,604
  10,371
  12,339
  14,509
  16,877
  19,441
  22,196
  25,139
  28,263
  31,566
  35,044
  38,695
  42,516
  46,507
  50,668
  55,002
  59,511
  64,200
  69,073
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
  304
  470
  703
  1,020
  1,439
  1,978
  2,656
  3,487
  4,487
  5,667
  7,038
  8,604
  10,371
  12,339
  14,509
  16,877
  19,441
  22,196
  25,139
  28,263
  31,566
  35,044
  38,695
  42,516
  46,507
  50,668
  55,002
  59,511
  64,200
  69,073
Operating income, $m
  -198
  -305
  -456
  -662
  -934
  -1,284
  -1,724
  -2,264
  -2,913
  -3,680
  -4,569
  -5,586
  -6,733
  -8,011
  -9,420
  -10,957
  -12,622
  -14,411
  -16,321
  -18,350
  -20,494
  -22,752
  -25,122
  -27,603
  -30,194
  -32,896
  -35,710
  -38,637
  -41,681
  -44,845
EBITDA, $m
  -165
  -255
  -381
  -553
  -780
  -1,072
  -1,440
  -1,890
  -2,432
  -3,072
  -3,815
  -4,664
  -5,622
  -6,689
  -7,865
  -9,148
  -10,538
  -12,032
  -13,627
  -15,320
  -17,111
  -18,996
  -20,975
  -23,046
  -25,209
  -27,465
  -29,814
  -32,259
  -34,800
  -37,442
Interest expense (income), $m
  1
  0
  2
  5
  8
  13
  20
  29
  40
  54
  70
  89
  111
  137
  165
  197
  233
  271
  313
  358
  405
  456
  510
  566
  626
  688
  753
  820
  891
  964
  1,040
Earnings before tax, $m
  -198
  -307
  -461
  -671
  -948
  -1,305
  -1,753
  -2,304
  -2,967
  -3,749
  -4,658
  -5,697
  -6,870
  -8,177
  -9,617
  -11,190
  -12,893
  -14,724
  -16,679
  -18,755
  -20,951
  -23,262
  -25,689
  -28,229
  -30,882
  -33,649
  -36,530
  -39,528
  -42,646
  -45,886
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
Net income, $m
  -198
  -307
  -461
  -671
  -948
  -1,305
  -1,753
  -2,304
  -2,967
  -3,749
  -4,658
  -5,697
  -6,870
  -8,177
  -9,617
  -11,190
  -12,893
  -14,724
  -16,679
  -18,755
  -20,951
  -23,262
  -25,689
  -28,229
  -30,882
  -33,649
  -36,530
  -39,528
  -42,646
  -45,886

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
  659
  1,018
  1,522
  2,208
  3,116
  4,284
  5,750
  7,550
  9,715
  12,271
  15,237
  18,629
  22,454
  26,716
  31,414
  36,542
  42,093
  48,059
  54,429
  61,194
  68,346
  75,876
  83,780
  92,052
  100,694
  109,704
  119,088
  128,851
  139,002
  149,553
Adjusted assets (=assets-cash), $m
  659
  1,018
  1,522
  2,208
  3,116
  4,284
  5,750
  7,550
  9,715
  12,271
  15,237
  18,629
  22,454
  26,716
  31,414
  36,542
  42,093
  48,059
  54,429
  61,194
  68,346
  75,876
  83,780
  92,052
  100,694
  109,704
  119,088
  128,851
  139,002
  149,553
Revenue / Adjusted assets
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
  0.162
Average production assets, $m
  466
  721
  1,078
  1,563
  2,206
  3,033
  4,071
  5,345
  6,878
  8,687
  10,787
  13,188
  15,896
  18,914
  22,239
  25,869
  29,799
  34,023
  38,532
  43,322
  48,385
  53,716
  59,311
  65,168
  71,285
  77,664
  84,307
  91,219
  98,405
  105,875
Working capital, $m
  -55
  -84
  -126
  -183
  -258
  -355
  -477
  -626
  -806
  -1,018
  -1,264
  -1,545
  -1,862
  -2,216
  -2,606
  -3,031
  -3,491
  -3,986
  -4,515
  -5,076
  -5,669
  -6,293
  -6,949
  -7,635
  -8,352
  -9,099
  -9,878
  -10,687
  -11,529
  -12,405
Total debt, $m
  34
  84
  154
  249
  376
  538
  742
  992
  1,293
  1,648
  2,061
  2,532
  3,064
  3,656
  4,309
  5,022
  5,793
  6,623
  7,508
  8,448
  9,443
  10,489
  11,588
  12,738
  13,939
  15,191
  16,496
  17,853
  19,264
  20,730
Total liabilities, $m
  92
  141
  212
  307
  433
  595
  799
  1,049
  1,350
  1,706
  2,118
  2,589
  3,121
  3,714
  4,367
  5,079
  5,851
  6,680
  7,566
  8,506
  9,500
  10,547
  11,645
  12,795
  13,996
  15,249
  16,553
  17,910
  19,321
  20,788
Total equity, $m
  567
  876
  1,311
  1,902
  2,683
  3,688
  4,951
  6,500
  8,365
  10,565
  13,119
  16,040
  19,333
  23,003
  27,047
  31,462
  36,242
  41,378
  46,863
  52,688
  58,846
  65,329
  72,134
  79,257
  86,697
  94,455
  102,534
  110,941
  119,681
  128,765
Total liabilities and equity, $m
  659
  1,017
  1,523
  2,209
  3,116
  4,283
  5,750
  7,549
  9,715
  12,271
  15,237
  18,629
  22,454
  26,717
  31,414
  36,541
  42,093
  48,058
  54,429
  61,194
  68,346
  75,876
  83,779
  92,052
  100,693
  109,704
  119,087
  128,851
  139,002
  149,553
Debt-to-equity ratio
  0.060
  0.100
  0.120
  0.130
  0.140
  0.150
  0.150
  0.150
  0.150
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
  0.160
Adjusted equity ratio
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861
  0.861

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -198
  -307
  -461
  -671
  -948
  -1,305
  -1,753
  -2,304
  -2,967
  -3,749
  -4,658
  -5,697
  -6,870
  -8,177
  -9,617
  -11,190
  -12,893
  -14,724
  -16,679
  -18,755
  -20,951
  -23,262
  -25,689
  -28,229
  -30,882
  -33,649
  -36,530
  -39,528
  -42,646
  -45,886
Depreciation, amort., depletion, $m
  33
  50
  75
  109
  154
  212
  285
  374
  481
  607
  754
  922
  1,112
  1,323
  1,555
  1,809
  2,084
  2,379
  2,695
  3,029
  3,384
  3,756
  4,148
  4,557
  4,985
  5,431
  5,896
  6,379
  6,881
  7,404
Funds from operations, $m
  -165
  -257
  -386
  -561
  -794
  -1,093
  -1,469
  -1,930
  -2,486
  -3,142
  -3,904
  -4,775
  -5,758
  -6,854
  -8,062
  -9,381
  -10,809
  -12,345
  -13,984
  -15,726
  -17,567
  -19,506
  -21,541
  -23,672
  -25,897
  -28,218
  -30,635
  -33,149
  -35,764
  -38,482
Change in working capital, $m
  -20
  -30
  -42
  -57
  -75
  -97
  -122
  -149
  -180
  -212
  -246
  -281
  -317
  -354
  -390
  -425
  -460
  -495
  -528
  -561
  -593
  -625
  -656
  -686
  -717
  -747
  -778
  -810
  -842
  -875
Cash from operations, $m
  -144
  -227
  -344
  -504
  -718
  -996
  -1,347
  -1,781
  -2,306
  -2,930
  -3,658
  -4,494
  -5,441
  -6,501
  -7,672
  -8,956
  -10,349
  -11,850
  -13,456
  -15,165
  -16,974
  -18,881
  -20,886
  -22,985
  -25,180
  -27,470
  -29,856
  -32,340
  -34,922
  -37,607
Maintenance CAPEX, $m
  -20
  -33
  -50
  -75
  -109
  -154
  -212
  -285
  -374
  -481
  -607
  -754
  -922
  -1,112
  -1,323
  -1,555
  -1,809
  -2,084
  -2,379
  -2,695
  -3,029
  -3,384
  -3,756
  -4,148
  -4,557
  -4,985
  -5,431
  -5,896
  -6,379
  -6,881
New CAPEX, $m
  -174
  -254
  -357
  -486
  -642
  -827
  -1,038
  -1,274
  -1,533
  -1,809
  -2,100
  -2,401
  -2,708
  -3,017
  -3,325
  -3,630
  -3,930
  -4,223
  -4,510
  -4,789
  -5,063
  -5,331
  -5,595
  -5,857
  -6,117
  -6,379
  -6,643
  -6,912
  -7,187
  -7,470
Cash from investing activities, $m
  -194
  -287
  -407
  -561
  -751
  -981
  -1,250
  -1,559
  -1,907
  -2,290
  -2,707
  -3,155
  -3,630
  -4,129
  -4,648
  -5,185
  -5,739
  -6,307
  -6,889
  -7,484
  -8,092
  -8,715
  -9,351
  -10,005
  -10,674
  -11,364
  -12,074
  -12,808
  -13,566
  -14,351
Free cash flow, $m
  -339
  -514
  -751
  -1,066
  -1,470
  -1,977
  -2,597
  -3,340
  -4,213
  -5,220
  -6,365
  -7,649
  -9,071
  -10,629
  -12,320
  -14,141
  -16,088
  -18,157
  -20,345
  -22,649
  -25,066
  -27,596
  -30,237
  -32,990
  -35,855
  -38,834
  -41,930
  -45,147
  -48,488
  -51,958
Issuance/(repayment) of debt, $m
  34
  50
  70
  95
  126
  162
  204
  250
  301
  355
  412
  471
  532
  592
  653
  713
  772
  829
  885
  940
  994
  1,047
  1,099
  1,150
  1,201
  1,252
  1,304
  1,357
  1,411
  1,467
Issuance/(repurchase) of shares, $m
  408
  616
  895
  1,262
  1,729
  2,310
  3,016
  3,854
  4,831
  5,950
  7,212
  8,618
  10,164
  11,846
  13,662
  15,605
  17,673
  19,860
  22,164
  24,580
  27,108
  29,746
  32,494
  35,352
  38,322
  41,407
  44,610
  47,934
  51,386
  54,970
Cash from financing (excl. dividends), $m  
  442
  666
  965
  1,357
  1,855
  2,472
  3,220
  4,104
  5,132
  6,305
  7,624
  9,089
  10,696
  12,438
  14,315
  16,318
  18,445
  20,689
  23,049
  25,520
  28,102
  30,793
  33,593
  36,502
  39,523
  42,659
  45,914
  49,291
  52,797
  56,437
Total cash flow (excl. dividends), $m
  104
  152
  214
  291
  385
  496
  622
  764
  919
  1,085
  1,259
  1,440
  1,624
  1,809
  1,994
  2,177
  2,357
  2,532
  2,704
  2,872
  3,036
  3,197
  3,355
  3,512
  3,668
  3,825
  3,983
  4,145
  4,309
  4,479
Retained Cash Flow (-), $m
  -408
  -616
  -895
  -1,262
  -1,729
  -2,310
  -3,016
  -3,854
  -4,831
  -5,950
  -7,212
  -8,618
  -10,164
  -11,846
  -13,662
  -15,605
  -17,673
  -19,860
  -22,164
  -24,580
  -27,108
  -29,746
  -32,494
  -35,352
  -38,322
  -41,407
  -44,610
  -47,934
  -51,386
  -54,970
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
  -304
  -464
  -681
  -970
  -1,344
  -1,814
  -2,393
  -3,090
  -3,912
  -4,865
  -5,953
  -7,178
  -8,540
  -10,037
  -11,668
  -13,428
  -15,316
  -17,328
  -19,459
  -21,708
  -24,072
  -26,549
  -29,138
  -31,840
  -34,654
  -37,582
  -40,626
  -43,790
  -47,076
  -50,491
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
  -292
  -425
  -593
  -799
  -1,042
  -1,317
  -1,617
  -1,931
  -2,247
  -2,550
  -2,827
  -3,063
  -3,247
  -3,370
  -3,425
  -3,412
  -3,333
  -3,191
  -2,996
  -2,758
  -2,490
  -2,203
  -1,910
  -1,622
  -1,348
  -1,096
  -872
  -677
  -514
  -380
Current shareholders' claim on cash, %
  51.5
  27.2
  14.8
  8.3
  4.7
  2.8
  1.7
  1.0
  0.6
  0.4
  0.3
  0.2
  0.1
  0.1
  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
  0.0

Ring Energy, Inc. (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company's exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States. The Company's primary drilling operations target the Central Basin Platform in Andrews County and Gaines County, Texas, and the Delaware Basin in Reeves County and Culberson County, Texas. As of December 31, 2016, Ring had 53,582 gross (32,663 net) acres in Andrews and Gaines counties and 20,794 gross (20,490 net) acres in Reeves and Culberson counties. The Company also had 14,647 gross (14,549 net) acres in Kansas, as of December 31, 2016. As of December 31, 2016, Ring's proved reserves were approximately 27.7 million barrel of oil equivalent (BOE).

FINANCIAL RATIOS  of  Ring Energy (REI)

Valuation Ratios
P/E Ratio -9.3
Price to Sales 11.4
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow 32.1
Price to Free Cash Flow -13.1
Growth Rates
Sales Growth Rate 0%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -65.5%
Cap. Spend. - 3 Yr. Gr. Rate 2.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage -57
Management Effectiveness
Return On Assets -13.4%
Ret/ On Assets - 3 Yr. Avg. -4%
Return On Total Capital -14.5%
Ret/ On T. Cap. - 3 Yr. Avg. -4.3%
Return On Equity -15.9%
Return On Equity - 3 Yr. Avg. -5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 61.3%
Gross Margin - 3 Yr. Avg. 69.1%
EBITDA Margin -148.4%
EBITDA Margin - 3 Yr. Avg. -26.5%
Operating Margin -183.9%
Oper. Margin - 3 Yr. Avg. -64.7%
Pre-Tax Margin -187.1%
Pre-Tax Margin - 3 Yr. Avg. -66%
Net Profit Margin -122.6%
Net Profit Margin - 3 Yr. Avg. -43.5%
Effective Tax Rate 34.5%
Eff/ Tax Rate - 3 Yr. Avg. 36.2%
Payout Ratio 0%

REI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the REI stock intrinsic value calculation we used $66.6997 million for the last fiscal year's total revenue generated by Ring Energy. The default revenue input number comes from 0001 income statement of Ring Energy. 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 REI 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 4.3%, whose default value for REI is calculated based on our internal credit rating of Ring Energy, 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 Ring Energy.
    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 REI stock the variable cost ratio is equal to 285.1%.

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 REI 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 Ring Energy.

Corporate tax rate of 27% is the nominal tax rate for Ring Energy. 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 REI 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 REI are equal to 437%.

Life of production assets of 14.3 years is the average useful life of capital assets used in Ring Energy 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 REI is equal to -51.2%. 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 - $356.60334 million for Ring Energy - 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 60.388 million for Ring Energy 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 Ring Energy at the current share price and the inputted number of shares is $0.4 billion.

RELATED COMPANIES Price Int.Val. Rating
EGN Energen 69.90 8.82  str.sell
LPI Laredo Petrole 5.29 0.81  str.sell
AREX Approach Resou 1.39 1.61  sell

COMPANY NEWS

▶ Ring Energy: 3Q Earnings Snapshot   [04:40PM  Associated Press]
▶ Ring Energy, Inc. to Host Earnings Call   [Aug-09-18 09:30AM  ACCESSWIRE]
▶ Should Ring Energy Inc (NYSEMKT:REI) Be Your Next Stock Pick?   [Jun-25-18 01:38PM  Simply Wall St.]
▶ New Strong Sell Stocks for June 19th   [Jun-19-18 08:13AM  Zacks]
▶ Ring Energy: 1Q Earnings Snapshot   [May-08-18 05:45PM  Associated Press]
▶ Ring Energy, Inc. to Host Earnings Call   [Mar-16-18 09:30AM  ACCESSWIRE]
▶ Ring Energy reports 4Q loss   [Mar-15-18 06:45PM  Associated Press]
▶ Ring Energy, Inc. Announces Common Stock Offering   [Feb-22-18 04:05PM  Business Wire]
▶ Top 3 Growth Stocks For The Month   [Feb-17-18 11:02AM  Simply Wall St.]
▶ Ring Energy, Inc. Added to S&P SmallCap 600 Index   [Feb-14-18 03:00PM  Business Wire]
▶ Upstream Losers: AREX, EXXI, NOG, SN, and REI   [Jan-17-18 04:20PM  Market Realist]
▶ Ultimate Software Group And Other Top Growth Stocks   [Jan-10-18 11:02AM  Simply Wall St.]
▶ Best AMEX Growth Companies   [Dec-09-17 11:02AM  Simply Wall St.]
▶ Ring Energy, Inc. to Host Earnings Call   [Nov-09-17 09:30AM  ACCESSWIRE]
▶ Ring Energy beats Street 3Q forecasts   [Nov-08-17 07:07PM  Associated Press]
▶ ETFs with exposure to Ring Energy, Inc. : July 24, 2017   [Jul-24-17 06:37PM  Capital Cube]
▶ Ring Energy, Inc. Announces Common Stock Offering   [Jul-17-17 04:10PM  Business Wire]
▶ ETFs with exposure to Ring Energy, Inc. : July 14, 2017   [Jul-14-17 04:30PM  Capital Cube]
▶ ETFs with exposure to Ring Energy, Inc. : June 6, 2017   [Jun-06-17 11:47AM  Capital Cube]
▶ ETFs with exposure to Ring Energy, Inc. : May 22, 2017   [May-22-17 02:05PM  Capital Cube]
▶ Ring Energy meets 1Q profit forecasts   [May-09-17 05:58PM  Associated Press]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.