Intrinsic value of Shaw Communications Cl B NV - SJR

Previous Close

$19.00

  Intrinsic Value

$34.49

stock screener

  Rating & Target

str. buy

+82%

Previous close

$19.00

 
Intrinsic value

$34.49

 
Up/down potential

+82%

 
Rating

str. buy

We calculate the intrinsic value of SJR 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 9.0

 

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, %
  13.30
  12.47
  11.72
  11.05
  10.45
  9.90
  9.41
  8.97
  8.57
  8.22
  7.89
  7.60
  7.34
  7.11
  6.90
  6.71
  6.54
  6.38
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
Revenue, $m
  4,432
  4,985
  5,569
  6,185
  6,831
  7,507
  8,213
  8,950
  9,717
  10,516
  11,346
  12,209
  13,105
  14,037
  15,006
  16,012
  17,059
  18,148
  19,282
  20,462
  21,692
  22,973
  24,310
  25,704
  27,159
  28,679
  30,267
  31,926
  33,661
  35,476
Variable operating expenses, $m
  3,277
  3,609
  3,960
  4,329
  4,716
  5,122
  5,546
  5,988
  6,448
  6,927
  6,807
  7,325
  7,863
  8,422
  9,003
  9,607
  10,235
  10,888
  11,568
  12,277
  13,014
  13,783
  14,585
  15,422
  16,295
  17,207
  18,159
  19,155
  20,196
  21,284
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
  3,277
  3,609
  3,960
  4,329
  4,716
  5,122
  5,546
  5,988
  6,448
  6,927
  6,807
  7,325
  7,863
  8,422
  9,003
  9,607
  10,235
  10,888
  11,568
  12,277
  13,014
  13,783
  14,585
  15,422
  16,295
  17,207
  18,159
  19,155
  20,196
  21,284
Operating income, $m
  1,155
  1,376
  1,610
  1,856
  2,114
  2,385
  2,667
  2,962
  3,269
  3,588
  4,539
  4,884
  5,243
  5,615
  6,003
  6,405
  6,824
  7,260
  7,713
  8,185
  8,677
  9,190
  9,725
  10,282
  10,864
  11,472
  12,108
  12,771
  13,465
  14,191
EBITDA, $m
  3,296
  3,707
  4,141
  4,599
  5,079
  5,582
  6,108
  6,656
  7,226
  7,820
  8,437
  9,079
  9,746
  10,438
  11,159
  11,907
  12,686
  13,496
  14,338
  15,216
  16,130
  17,083
  18,077
  19,114
  20,196
  21,327
  22,507
  23,741
  25,031
  26,381
Interest expense (income), $m
  201
  186
  233
  283
  336
  392
  451
  512
  577
  643
  713
  786
  861
  940
  1,021
  1,106
  1,194
  1,285
  1,380
  1,479
  1,582
  1,689
  1,801
  1,917
  2,039
  2,166
  2,298
  2,436
  2,580
  2,731
  2,888
Earnings before tax, $m
  969
  1,143
  1,326
  1,520
  1,722
  1,934
  2,155
  2,386
  2,626
  2,875
  3,753
  4,023
  4,303
  4,594
  4,897
  5,212
  5,539
  5,880
  6,234
  6,603
  6,988
  7,389
  7,807
  8,243
  8,699
  9,175
  9,672
  10,191
  10,735
  11,303
Tax expense, $m
  262
  309
  358
  410
  465
  522
  582
  644
  709
  776
  1,013
  1,086
  1,162
  1,240
  1,322
  1,407
  1,496
  1,588
  1,683
  1,783
  1,887
  1,995
  2,108
  2,226
  2,349
  2,477
  2,611
  2,752
  2,898
  3,052
Net income, $m
  707
  834
  968
  1,109
  1,257
  1,412
  1,573
  1,741
  1,917
  2,099
  2,740
  2,937
  3,141
  3,354
  3,575
  3,805
  4,044
  4,292
  4,551
  4,820
  5,101
  5,394
  5,699
  6,018
  6,350
  6,698
  7,060
  7,440
  7,836
  8,251

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
  13,036
  14,661
  16,380
  18,190
  20,090
  22,079
  24,157
  26,324
  28,581
  30,929
  33,370
  35,908
  38,545
  41,286
  44,134
  47,095
  50,174
  53,377
  56,711
  60,182
  63,799
  67,568
  71,499
  75,600
  79,880
  84,350
  89,020
  93,901
  99,003
  104,341
Adjusted assets (=assets-cash), $m
  13,036
  14,661
  16,380
  18,190
  20,090
  22,079
  24,157
  26,324
  28,581
  30,929
  33,370
  35,908
  38,545
  41,286
  44,134
  47,095
  50,174
  53,377
  56,711
  60,182
  63,799
  67,568
  71,499
  75,600
  79,880
  84,350
  89,020
  93,901
  99,003
  104,341
Revenue / Adjusted assets
  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
Average production assets, $m
  7,614
  8,564
  9,568
  10,625
  11,735
  12,897
  14,111
  15,376
  16,695
  18,066
  19,492
  20,975
  22,515
  24,116
  25,779
  27,509
  29,308
  31,179
  33,126
  35,154
  37,266
  39,468
  41,764
  44,159
  46,660
  49,271
  51,998
  54,849
  57,830
  60,947
Working capital, $m
  -709
  -798
  -891
  -990
  -1,093
  -1,201
  -1,314
  -1,432
  -1,555
  -1,683
  -1,815
  -1,953
  -2,097
  -2,246
  -2,401
  -2,562
  -2,729
  -2,904
  -3,085
  -3,274
  -3,471
  -3,676
  -3,890
  -4,113
  -4,345
  -4,589
  -4,843
  -5,108
  -5,386
  -5,676
Total debt, $m
  4,315
  5,245
  6,228
  7,264
  8,351
  9,488
  10,677
  11,916
  13,207
  14,550
  15,947
  17,398
  18,907
  20,474
  22,104
  23,797
  25,558
  27,391
  29,298
  31,283
  33,352
  35,508
  37,756
  40,102
  42,550
  45,107
  47,778
  50,570
  53,489
  56,542
Total liabilities, $m
  7,456
  8,386
  9,369
  10,405
  11,492
  12,629
  13,818
  15,057
  16,348
  17,691
  19,088
  20,539
  22,048
  23,615
  25,245
  26,938
  28,699
  30,532
  32,439
  34,424
  36,493
  38,649
  40,897
  43,243
  45,691
  48,248
  50,919
  53,711
  56,630
  59,683
Total equity, $m
  5,579
  6,275
  7,011
  7,785
  8,599
  9,450
  10,339
  11,267
  12,233
  13,238
  14,283
  15,369
  16,497
  17,670
  18,889
  20,157
  21,474
  22,845
  24,272
  25,758
  27,306
  28,919
  30,601
  32,357
  34,189
  36,102
  38,101
  40,189
  42,373
  44,658
Total liabilities and equity, $m
  13,035
  14,661
  16,380
  18,190
  20,091
  22,079
  24,157
  26,324
  28,581
  30,929
  33,371
  35,908
  38,545
  41,285
  44,134
  47,095
  50,173
  53,377
  56,711
  60,182
  63,799
  67,568
  71,498
  75,600
  79,880
  84,350
  89,020
  93,900
  99,003
  104,341
Debt-to-equity ratio
  0.770
  0.840
  0.890
  0.930
  0.970
  1.000
  1.030
  1.060
  1.080
  1.100
  1.120
  1.130
  1.150
  1.160
  1.170
  1.180
  1.190
  1.200
  1.210
  1.210
  1.220
  1.230
  1.230
  1.240
  1.240
  1.250
  1.250
  1.260
  1.260
  1.270
Adjusted equity ratio
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428
  0.428

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  707
  834
  968
  1,109
  1,257
  1,412
  1,573
  1,741
  1,917
  2,099
  2,740
  2,937
  3,141
  3,354
  3,575
  3,805
  4,044
  4,292
  4,551
  4,820
  5,101
  5,394
  5,699
  6,018
  6,350
  6,698
  7,060
  7,440
  7,836
  8,251
Depreciation, amort., depletion, $m
  2,141
  2,331
  2,532
  2,743
  2,965
  3,198
  3,440
  3,693
  3,957
  4,231
  3,898
  4,195
  4,503
  4,823
  5,156
  5,502
  5,862
  6,236
  6,625
  7,031
  7,453
  7,894
  8,353
  8,832
  9,332
  9,854
  10,400
  10,970
  11,566
  12,189
Funds from operations, $m
  2,848
  3,165
  3,500
  3,852
  4,222
  4,609
  5,014
  5,435
  5,874
  6,330
  6,638
  7,132
  7,644
  8,177
  8,731
  9,306
  9,905
  10,528
  11,176
  11,851
  12,554
  13,287
  14,052
  14,850
  15,682
  16,552
  17,460
  18,410
  19,402
  20,441
Change in working capital, $m
  -83
  -88
  -93
  -98
  -103
  -108
  -113
  -118
  -123
  -128
  -133
  -138
  -143
  -149
  -155
  -161
  -168
  -174
  -181
  -189
  -197
  -205
  -214
  -223
  -233
  -243
  -254
  -266
  -278
  -290
Cash from operations, $m
  2,931
  3,254
  3,594
  3,951
  4,326
  4,718
  5,127
  5,553
  5,997
  6,458
  6,771
  7,270
  7,788
  8,326
  8,886
  9,467
  10,073
  10,702
  11,357
  12,040
  12,751
  13,493
  14,266
  15,073
  15,915
  16,795
  17,714
  18,675
  19,680
  20,731
Maintenance CAPEX, $m
  -1,344
  -1,523
  -1,713
  -1,914
  -2,125
  -2,347
  -2,579
  -2,822
  -3,075
  -3,339
  -3,613
  -3,898
  -4,195
  -4,503
  -4,823
  -5,156
  -5,502
  -5,862
  -6,236
  -6,625
  -7,031
  -7,453
  -7,894
  -8,353
  -8,832
  -9,332
  -9,854
  -10,400
  -10,970
  -11,566
New CAPEX, $m
  -895
  -950
  -1,004
  -1,057
  -1,110
  -1,162
  -1,214
  -1,266
  -1,318
  -1,372
  -1,426
  -1,482
  -1,540
  -1,601
  -1,664
  -1,730
  -1,799
  -1,871
  -1,947
  -2,028
  -2,112
  -2,202
  -2,296
  -2,395
  -2,500
  -2,611
  -2,728
  -2,851
  -2,981
  -3,118
Cash from investing activities, $m
  -2,239
  -2,473
  -2,717
  -2,971
  -3,235
  -3,509
  -3,793
  -4,088
  -4,393
  -4,711
  -5,039
  -5,380
  -5,735
  -6,104
  -6,487
  -6,886
  -7,301
  -7,733
  -8,183
  -8,653
  -9,143
  -9,655
  -10,190
  -10,748
  -11,332
  -11,943
  -12,582
  -13,251
  -13,951
  -14,684
Free cash flow, $m
  693
  781
  877
  980
  1,091
  1,209
  1,333
  1,465
  1,603
  1,748
  1,732
  1,889
  2,052
  2,222
  2,399
  2,582
  2,772
  2,970
  3,174
  3,387
  3,608
  3,838
  4,076
  4,324
  4,583
  4,852
  5,132
  5,425
  5,729
  6,047
Issuance/(repayment) of debt, $m
  870
  930
  983
  1,035
  1,087
  1,138
  1,189
  1,239
  1,291
  1,343
  1,397
  1,452
  1,508
  1,568
  1,629
  1,694
  1,761
  1,832
  1,907
  1,986
  2,069
  2,156
  2,248
  2,346
  2,448
  2,557
  2,671
  2,792
  2,919
  3,053
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  
  870
  930
  983
  1,035
  1,087
  1,138
  1,189
  1,239
  1,291
  1,343
  1,397
  1,452
  1,508
  1,568
  1,629
  1,694
  1,761
  1,832
  1,907
  1,986
  2,069
  2,156
  2,248
  2,346
  2,448
  2,557
  2,671
  2,792
  2,919
  3,053
Total cash flow (excl. dividends), $m
  1,563
  1,711
  1,860
  2,015
  2,178
  2,346
  2,522
  2,704
  2,894
  3,091
  3,128
  3,340
  3,561
  3,790
  4,028
  4,276
  4,533
  4,802
  5,081
  5,373
  5,677
  5,994
  6,325
  6,670
  7,031
  7,409
  7,803
  8,216
  8,648
  9,100
Retained Cash Flow (-), $m
  -649
  -696
  -736
  -775
  -813
  -851
  -889
  -927
  -966
  -1,005
  -1,045
  -1,086
  -1,129
  -1,173
  -1,219
  -1,267
  -1,318
  -1,371
  -1,427
  -1,486
  -1,548
  -1,613
  -1,682
  -1,755
  -1,832
  -1,913
  -1,999
  -2,089
  -2,184
  -2,284
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
  914
  1,015
  1,124
  1,241
  1,364
  1,495
  1,633
  1,777
  1,928
  2,086
  2,083
  2,254
  2,432
  2,617
  2,809
  3,008
  3,216
  3,431
  3,654
  3,887
  4,129
  4,380
  4,642
  4,915
  5,199
  5,496
  5,805
  6,127
  6,464
  6,816
Discount rate, %
  5.40
  5.67
  5.95
  6.25
  6.56
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.18
  10.69
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.04
  15.80
  16.59
  17.42
  18.29
  19.20
  20.16
  21.17
  22.23
PV of cash for distribution, $m
  867
  909
  945
  973
  993
  1,002
  1,001
  989
  966
  933
  824
  781
  730
  673
  612
  548
  484
  420
  359
  301
  248
  201
  159
  124
  94
  70
  51
  36
  25
  17
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

Shaw Communications Inc. (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers. Its Business Network Services division offers data networking, Cable telecommunications, Satellite video and fleet tracking services to businesses and public sector entities. Its Business Infrastructure Services division offers data center colocation, cloud technology and managed information technology (IT) solutions to businesses. The Company offers wireless services for voice and data communications through its Wireless division. Its wireline services offer approximately 120 high definition (HD) channels and over 10,000 on-demand, pay-per-view and subscription movie and television programming titles.

FINANCIAL RATIOS  of  Shaw Communications Cl B NV (SJR)

Valuation Ratios
P/E Ratio 15
Price to Sales 2.6
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 8.5
Price to Free Cash Flow -115.1
Growth Rates
Sales Growth Rate 8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 34.6%
Cap. Spend. - 3 Yr. Gr. Rate 7.6%
Financial Strength
Quick Ratio 375
Current Ratio 0.1
LT Debt to Equity 69.9%
Total Debt to Equity 69.9%
Interest Coverage 4
Management Effectiveness
Return On Assets 7.1%
Ret/ On Assets - 3 Yr. Avg. 8.1%
Return On Total Capital 7.8%
Ret/ On T. Cap. - 3 Yr. Avg. 9.2%
Return On Equity 14.4%
Return On Equity - 3 Yr. Avg. 18.5%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 40.9%
Gross Margin - 3 Yr. Avg. 43.4%
EBITDA Margin 40.2%
EBITDA Margin - 3 Yr. Avg. 42.8%
Operating Margin 20.5%
Oper. Margin - 3 Yr. Avg. 23.2%
Pre-Tax Margin 15.3%
Pre-Tax Margin - 3 Yr. Avg. 16.6%
Net Profit Margin 17.4%
Net Profit Margin - 3 Yr. Avg. 21.2%
Effective Tax Rate 25.5%
Eff/ Tax Rate - 3 Yr. Avg. 25.6%
Payout Ratio 46.2%

SJR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SJR stock intrinsic value calculation we used $3911.85897436 million for the last fiscal year's total revenue generated by Shaw Communications Cl B NV. The default revenue input number comes from 0001 income statement of Shaw Communications Cl B NV. 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 SJR stock valuation model: a) initial revenue growth rate of 13.3% 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 5.4%, whose default value for SJR is calculated based on our internal credit rating of Shaw Communications Cl B NV, 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 Shaw Communications Cl B NV.
    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 SJR stock the variable cost ratio is equal to 75.8%.

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 SJR 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 Shaw Communications Cl B NV.

Corporate tax rate of 27% is the nominal tax rate for Shaw Communications Cl B NV. 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 SJR 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 SJR are equal to 171.8%.

Life of production assets of 0 years is the average useful life of capital assets used in Shaw Communications Cl B NV 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 SJR is equal to -16%. 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 - $4930.28846154 million for Shaw Communications Cl B NV - 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 474.351 million for Shaw Communications Cl B NV 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 Shaw Communications Cl B NV at the current share price and the inputted number of shares is $9.0 billion.

RELATED COMPANIES Price Int.Val. Rating
BCE BCE 41.70 56.78  buy

COMPANY NEWS

▶ Shaw Announces Closing of C$1 Billion Senior Notes Offering   [Nov-02-18 09:03AM  GlobeNewswire]
▶ Shaw Announces C$1 Billion Senior Notes Offering   [Oct-30-18 10:45PM  GlobeNewswire]
▶ Shaw: Fiscal 4Q Earnings Snapshot   [Oct-25-18 09:50AM  Associated Press]
▶ Shaw Declares Monthly Dividends   [08:02AM  GlobeNewswire]
▶ Top 5 Monthly Dividend Stocks for 2018   [Oct-03-18 07:53PM  Investopedia]
▶ 6 Monthly Dividend Stocks to Buy   [Sep-14-18 11:02AM  InvestorPlace]
▶ 16 High-Yielding Monthly Dividend Payers   [Sep-07-18 12:46PM  Kiplinger]
▶ Shaw Welcomes Christy Clark to Its Board   [08:00AM  GlobeNewswire]
▶ Shaw Declares Monthly Dividends   [Jun-28-18 04:00PM  GlobeNewswire]
▶ Shaw: Fiscal 3Q Earnings Snapshot   [08:45AM  Associated Press]
▶ Earnings Outlook For Shaw Communications   [Jun-27-18 02:16PM  Benzinga]
▶ June Top Tech Dividend Payers   [Jun-07-18 05:02PM  Simply Wall St.]
▶ 3 Stocks That Cut You a Check Each Month   [Jun-04-18 02:39PM  Motley Fool]
▶ Shaw: Fiscal 2Q Earnings Snapshot   [08:57AM  Associated Press]
▶ Shaw Declares Monthly Dividends   [08:05AM  GlobeNewswire]
▶ Top Dividend Picks For The Day   [Apr-04-18 09:02AM  Simply Wall St.]
▶ 4 Monthly Dividend Stocks -- 2 Buys, 2 Sells   [Mar-25-18 08:37AM  Forbes]
▶ Top Dividend Stocks For The Week   [Mar-02-18 08:02AM  Simply Wall St.]
▶ PRESS DIGEST- Canada- Feb 16   [Feb-16-18 05:45AM  Reuters]
▶ PRESS DIGEST-Canada-Jan 31   [Jan-31-18 05:56AM  Reuters]
▶ New Strong Sell Stocks for January 15th   [Jan-15-18 04:13AM  Zacks]
▶ Shaw Announces AGM Vote Results   [05:20PM  GlobeNewswire]
▶ Shaw Declares Monthly Dividends   [01:15PM  GlobeNewswire]
▶ Shaw misses 1Q profit forecasts   [07:23AM  Associated Press]

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