Intrinsic value of Rush Enterprises, Inc. - RUSHA

Previous Close

$41.92

  Intrinsic Value

$10.67

stock screener

  Rating & Target

str. sell

-75%

Previous close

$41.92

 
Intrinsic value

$10.67

 
Up/down potential

-75%

 
Rating

str. sell

We calculate the intrinsic value of RUSHA 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, %
  27.50
  25.25
  23.23
  21.40
  19.76
  18.29
  16.96
  15.76
  14.69
  13.72
  12.85
  12.06
  11.35
  10.72
  10.15
  9.63
  9.17
  8.75
  8.38
  8.04
  7.74
  7.46
  7.22
  6.99
  6.79
  6.62
  6.45
  6.31
  6.18
  6.06
Revenue, $m
  7,020
  8,793
  10,835
  13,154
  15,753
  18,634
  21,794
  25,229
  28,934
  32,903
  37,129
  41,607
  46,331
  51,298
  56,503
  61,946
  67,626
  73,545
  79,706
  86,113
  92,775
  99,698
  106,891
  114,368
  122,139
  130,218
  138,622
  147,367
  156,471
  165,953
Variable operating expenses, $m
  6,535
  8,177
  10,070
  12,219
  14,628
  17,297
  20,226
  23,409
  26,842
  30,520
  34,408
  38,558
  42,936
  47,538
  52,362
  57,406
  62,670
  68,155
  73,864
  79,803
  85,976
  92,391
  99,058
  105,986
  113,188
  120,675
  128,463
  136,567
  145,004
  153,791
Fixed operating expenses, $m
  180
  184
  188
  192
  196
  201
  205
  209
  214
  219
  224
  229
  234
  239
  244
  249
  255
  260
  266
  272
  278
  284
  290
  297
  303
  310
  317
  324
  331
  338
Total operating expenses, $m
  6,715
  8,361
  10,258
  12,411
  14,824
  17,498
  20,431
  23,618
  27,056
  30,739
  34,632
  38,787
  43,170
  47,777
  52,606
  57,655
  62,925
  68,415
  74,130
  80,075
  86,254
  92,675
  99,348
  106,283
  113,491
  120,985
  128,780
  136,891
  145,335
  154,129
Operating income, $m
  306
  431
  577
  743
  929
  1,136
  1,363
  1,610
  1,877
  2,163
  2,497
  2,821
  3,162
  3,521
  3,897
  4,290
  4,701
  5,129
  5,575
  6,039
  6,521
  7,022
  7,543
  8,085
  8,648
  9,233
  9,842
  10,476
  11,136
  11,824
EBITDA, $m
  547
  727
  934
  1,170
  1,435
  1,729
  2,052
  2,403
  2,782
  3,188
  3,621
  4,079
  4,564
  5,073
  5,606
  6,164
  6,747
  7,354
  7,986
  8,644
  9,328
  10,038
  10,777
  11,545
  12,343
  13,173
  14,036
  14,934
  15,870
  16,844
Interest expense (income), $m
  38
  91
  123
  160
  203
  252
  306
  366
  433
  504
  582
  665
  754
  847
  946
  1,050
  1,159
  1,273
  1,392
  1,516
  1,645
  1,779
  1,919
  2,064
  2,215
  2,371
  2,534
  2,703
  2,879
  3,062
  3,253
Earnings before tax, $m
  214
  308
  417
  540
  678
  830
  997
  1,178
  1,373
  1,581
  1,832
  2,067
  2,314
  2,574
  2,847
  3,131
  3,428
  3,737
  4,059
  4,394
  4,742
  5,103
  5,479
  5,870
  6,277
  6,699
  7,139
  7,597
  8,074
  8,571
Tax expense, $m
  58
  83
  113
  146
  183
  224
  269
  318
  371
  427
  495
  558
  625
  695
  769
  845
  926
  1,009
  1,096
  1,186
  1,280
  1,378
  1,479
  1,585
  1,695
  1,809
  1,928
  2,051
  2,180
  2,314
Net income, $m
  156
  225
  304
  394
  495
  606
  728
  860
  1,002
  1,154
  1,338
  1,509
  1,690
  1,879
  2,078
  2,286
  2,502
  2,728
  2,963
  3,207
  3,461
  3,725
  4,000
  4,285
  4,582
  4,890
  5,212
  5,546
  5,894
  6,257

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
  4,081
  5,112
  6,299
  7,648
  9,159
  10,834
  12,671
  14,668
  16,822
  19,129
  21,587
  24,190
  26,937
  29,824
  32,851
  36,015
  39,317
  42,759
  46,340
  50,066
  53,939
  57,964
  62,146
  66,493
  71,011
  75,708
  80,594
  85,679
  90,971
  96,484
Adjusted assets (=assets-cash), $m
  4,081
  5,112
  6,299
  7,648
  9,159
  10,834
  12,671
  14,668
  16,822
  19,129
  21,587
  24,190
  26,937
  29,824
  32,851
  36,015
  39,317
  42,759
  46,340
  50,066
  53,939
  57,964
  62,146
  66,493
  71,011
  75,708
  80,594
  85,679
  90,971
  96,484
Revenue / Adjusted assets
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
  1.720
Average production assets, $m
  1,678
  2,101
  2,590
  3,144
  3,765
  4,454
  5,209
  6,030
  6,915
  7,864
  8,874
  9,944
  11,073
  12,260
  13,504
  14,805
  16,163
  17,577
  19,050
  20,581
  22,173
  23,828
  25,547
  27,334
  29,191
  31,122
  33,131
  35,221
  37,397
  39,663
Working capital, $m
  1,615
  2,022
  2,492
  3,025
  3,623
  4,286
  5,013
  5,803
  6,655
  7,568
  8,540
  9,570
  10,656
  11,798
  12,996
  14,248
  15,554
  16,915
  18,332
  19,806
  21,338
  22,930
  24,585
  26,305
  28,092
  29,950
  31,883
  33,894
  35,988
  38,169
Total debt, $m
  2,281
  2,969
  3,761
  4,660
  5,668
  6,785
  8,010
  9,342
  10,779
  12,318
  13,957
  15,694
  17,526
  19,452
  21,470
  23,581
  25,784
  28,079
  30,468
  32,953
  35,536
  38,221
  41,010
  43,910
  46,923
  50,056
  53,315
  56,706
  60,237
  63,914
Total liabilities, $m
  2,722
  3,410
  4,202
  5,101
  6,109
  7,226
  8,451
  9,783
  11,220
  12,759
  14,398
  16,135
  17,967
  19,893
  21,911
  24,022
  26,225
  28,520
  30,909
  33,394
  35,977
  38,662
  41,451
  44,351
  47,364
  50,497
  53,756
  57,148
  60,678
  64,355
Total equity, $m
  1,359
  1,702
  2,098
  2,547
  3,050
  3,608
  4,219
  4,884
  5,602
  6,370
  7,188
  8,055
  8,970
  9,931
  10,939
  11,993
  13,093
  14,239
  15,431
  16,672
  17,962
  19,302
  20,695
  22,142
  23,647
  25,211
  26,838
  28,531
  30,293
  32,129
Total liabilities and equity, $m
  4,081
  5,112
  6,300
  7,648
  9,159
  10,834
  12,670
  14,667
  16,822
  19,129
  21,586
  24,190
  26,937
  29,824
  32,850
  36,015
  39,318
  42,759
  46,340
  50,066
  53,939
  57,964
  62,146
  66,493
  71,011
  75,708
  80,594
  85,679
  90,971
  96,484
Debt-to-equity ratio
  1.680
  1.740
  1.790
  1.830
  1.860
  1.880
  1.900
  1.910
  1.920
  1.930
  1.940
  1.950
  1.950
  1.960
  1.960
  1.970
  1.970
  1.970
  1.970
  1.980
  1.980
  1.980
  1.980
  1.980
  1.980
  1.990
  1.990
  1.990
  1.990
  1.990
Adjusted equity ratio
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333
  0.333

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  156
  225
  304
  394
  495
  606
  728
  860
  1,002
  1,154
  1,338
  1,509
  1,690
  1,879
  2,078
  2,286
  2,502
  2,728
  2,963
  3,207
  3,461
  3,725
  4,000
  4,285
  4,582
  4,890
  5,212
  5,546
  5,894
  6,257
Depreciation, amort., depletion, $m
  241
  295
  357
  427
  506
  593
  688
  792
  904
  1,025
  1,123
  1,259
  1,402
  1,552
  1,709
  1,874
  2,046
  2,225
  2,411
  2,605
  2,807
  3,016
  3,234
  3,460
  3,695
  3,940
  4,194
  4,458
  4,734
  5,021
Funds from operations, $m
  398
  520
  661
  821
  1,000
  1,199
  1,416
  1,652
  1,907
  2,179
  2,461
  2,768
  3,091
  3,431
  3,787
  4,160
  4,548
  4,953
  5,374
  5,813
  6,268
  6,742
  7,234
  7,745
  8,277
  8,830
  9,405
  10,004
  10,628
  11,277
Change in working capital, $m
  348
  408
  470
  533
  598
  663
  727
  790
  852
  913
  972
  1,030
  1,087
  1,142
  1,197
  1,252
  1,306
  1,361
  1,417
  1,474
  1,532
  1,592
  1,655
  1,720
  1,787
  1,858
  1,933
  2,011
  2,094
  2,181
Cash from operations, $m
  49
  112
  191
  288
  402
  536
  689
  862
  1,054
  1,266
  1,489
  1,738
  2,005
  2,289
  2,590
  2,908
  3,242
  3,592
  3,957
  4,339
  4,736
  5,149
  5,579
  6,026
  6,490
  6,972
  7,472
  7,993
  8,534
  9,097
Maintenance CAPEX, $m
  -167
  -212
  -266
  -328
  -398
  -477
  -564
  -659
  -763
  -875
  -995
  -1,123
  -1,259
  -1,402
  -1,552
  -1,709
  -1,874
  -2,046
  -2,225
  -2,411
  -2,605
  -2,807
  -3,016
  -3,234
  -3,460
  -3,695
  -3,940
  -4,194
  -4,458
  -4,734
New CAPEX, $m
  -360
  -424
  -488
  -554
  -621
  -688
  -755
  -821
  -885
  -949
  -1,010
  -1,070
  -1,129
  -1,187
  -1,244
  -1,301
  -1,358
  -1,415
  -1,472
  -1,531
  -1,592
  -1,655
  -1,719
  -1,787
  -1,857
  -1,931
  -2,009
  -2,090
  -2,176
  -2,266
Cash from investing activities, $m
  -527
  -636
  -754
  -882
  -1,019
  -1,165
  -1,319
  -1,480
  -1,648
  -1,824
  -2,005
  -2,193
  -2,388
  -2,589
  -2,796
  -3,010
  -3,232
  -3,461
  -3,697
  -3,942
  -4,197
  -4,462
  -4,735
  -5,021
  -5,317
  -5,626
  -5,949
  -6,284
  -6,634
  -7,000
Free cash flow, $m
  -478
  -524
  -563
  -594
  -617
  -629
  -630
  -618
  -594
  -558
  -517
  -456
  -383
  -300
  -206
  -102
  10
  131
  260
  396
  539
  688
  844
  1,005
  1,172
  1,346
  1,524
  1,709
  1,900
  2,097
Issuance/(repayment) of debt, $m
  588
  687
  792
  899
  1,008
  1,117
  1,225
  1,332
  1,437
  1,539
  1,639
  1,737
  1,832
  1,926
  2,019
  2,111
  2,203
  2,295
  2,389
  2,485
  2,583
  2,685
  2,790
  2,899
  3,014
  3,133
  3,259
  3,391
  3,530
  3,677
Issuance/(repurchase) of shares, $m
  136
  118
  91
  55
  9
  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  
  724
  805
  883
  954
  1,017
  1,117
  1,225
  1,332
  1,437
  1,539
  1,639
  1,737
  1,832
  1,926
  2,019
  2,111
  2,203
  2,295
  2,389
  2,485
  2,583
  2,685
  2,790
  2,899
  3,014
  3,133
  3,259
  3,391
  3,530
  3,677
Total cash flow (excl. dividends), $m
  246
  282
  320
  360
  400
  488
  596
  714
  842
  981
  1,122
  1,281
  1,449
  1,626
  1,813
  2,008
  2,213
  2,426
  2,649
  2,881
  3,122
  3,373
  3,633
  3,904
  4,186
  4,479
  4,783
  5,100
  5,430
  5,774
Retained Cash Flow (-), $m
  -292
  -343
  -395
  -449
  -503
  -558
  -612
  -665
  -717
  -768
  -818
  -867
  -915
  -962
  -1,008
  -1,054
  -1,100
  -1,146
  -1,193
  -1,241
  -1,290
  -1,340
  -1,393
  -1,447
  -1,504
  -1,564
  -1,627
  -1,693
  -1,763
  -1,836
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
  -46
  -61
  -75
  -89
  -103
  -70
  -16
  49
  125
  213
  304
  414
  534
  665
  805
  955
  1,113
  1,281
  1,456
  1,640
  1,832
  2,032
  2,241
  2,457
  2,681
  2,914
  3,156
  3,407
  3,668
  3,938
Discount rate, %
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
  21.18
  22.24
  23.35
  24.52
  25.74
  27.03
  28.38
  29.80
  31.29
  32.85
  34.50
  36.22
PV of cash for distribution, $m
  -42
  -51
  -57
  -60
  -62
  -37
  -7
  19
  42
  59
  70
  77
  79
  77
  72
  65
  56
  47
  38
  30
  22
  16
  12
  8
  5
  3
  2
  1
  1
  0
Current shareholders' claim on cash, %
  91.8
  86.6
  83.5
  82.0
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8
  81.8

Rush Enterprises, Inc. is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products. As of December 31, 2016, the Company operated 100 Rush Truck Centers in 21 states. The Company's Rush Truck Centers are located in Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Kentucky, Missouri, Nevada, New Mexico, North Carolina, Ohio, Oklahoma, Tennessee, Texas, Utah and Virginia. Its Rush Truck Leasing provides full-service maintenance on customers' vehicles. At Rush Truck Centers, it offers third-party financing to assist customers in purchasing new and used commercial vehicles.

FINANCIAL RATIOS  of  Rush Enterprises, Inc. (RUSHA)

Valuation Ratios
P/E Ratio 40.1
Price to Sales 0.4
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 3.2
Price to Free Cash Flow 5.1
Growth Rates
Sales Growth Rate -15.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -46.5%
Cap. Spend. - 3 Yr. Gr. Rate 0.5%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 62.9%
Total Debt to Equity 154.7%
Interest Coverage 3
Management Effectiveness
Return On Assets 2.4%
Ret/ On Assets - 3 Yr. Avg. 3.2%
Return On Total Capital 1.8%
Ret/ On T. Cap. - 3 Yr. Avg. 2.9%
Return On Equity 4.8%
Return On Equity - 3 Yr. Avg. 8.1%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 17%
Gross Margin - 3 Yr. Avg. 16.3%
EBITDA Margin 6.2%
EBITDA Margin - 3 Yr. Avg. 6%
Operating Margin 1.9%
Oper. Margin - 3 Yr. Avg. 2.5%
Pre-Tax Margin 1.6%
Pre-Tax Margin - 3 Yr. Avg. 2.2%
Net Profit Margin 1%
Net Profit Margin - 3 Yr. Avg. 1.3%
Effective Tax Rate 37.9%
Eff/ Tax Rate - 3 Yr. Avg. 38.6%
Payout Ratio 0%

RUSHA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RUSHA stock intrinsic value calculation we used $5506 million for the last fiscal year's total revenue generated by Rush Enterprises, Inc.. The default revenue input number comes from 0001 income statement of Rush Enterprises, Inc.. 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 RUSHA stock valuation model: a) initial revenue growth rate of 27.5% 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 8.8%, whose default value for RUSHA is calculated based on our internal credit rating of Rush Enterprises, Inc., 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 Rush Enterprises, Inc..
    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 RUSHA stock the variable cost ratio is equal to 93.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $176 million in the base year in the intrinsic value calculation for RUSHA 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 Rush Enterprises, Inc..

Corporate tax rate of 27% is the nominal tax rate for Rush Enterprises, Inc.. 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 RUSHA 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 RUSHA are equal to 23.9%.

Life of production assets of 7.9 years is the average useful life of capital assets used in Rush Enterprises, Inc. 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 RUSHA is equal to 23%. 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 - $1066.928 million for Rush Enterprises, Inc. - 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 36.452 million for Rush Enterprises, Inc. 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 Rush Enterprises, Inc. at the current share price and the inputted number of shares is $1.5 billion.

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