Intrinsic value of Spectrum Brands Holdings - SPB

Previous Close

$111.00

  Intrinsic Value

$74.58

stock screener

  Rating & Target

sell

-33%

Previous close

$111.00

 
Intrinsic value

$74.58

 
Up/down potential

-33%

 
Rating

sell

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

We calculate the intrinsic value of SPB 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 6.4

 

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, %
  7.46
  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
  5,040
  5,141
  5,259
  5,394
  5,546
  5,714
  5,899
  6,099
  6,317
  6,551
  6,803
  7,072
  7,359
  7,664
  7,989
  8,334
  8,699
  9,085
  9,494
  9,926
  10,382
  10,863
  11,371
  11,906
  12,469
  13,063
  13,688
  14,346
  15,038
  15,767
  16,533
Variable operating expenses, $m
 
  2,463
  2,514
  2,572
  2,637
  2,710
  2,789
  2,876
  2,969
  3,070
  3,179
  3,047
  3,170
  3,302
  3,442
  3,590
  3,748
  3,914
  4,090
  4,276
  4,473
  4,680
  4,899
  5,129
  5,372
  5,628
  5,897
  6,181
  6,479
  6,793
  7,123
Fixed operating expenses, $m
 
  2,064
  2,116
  2,169
  2,223
  2,279
  2,336
  2,394
  2,454
  2,515
  2,578
  2,643
  2,709
  2,776
  2,846
  2,917
  2,990
  3,065
  3,141
  3,220
  3,300
  3,383
  3,467
  3,554
  3,643
  3,734
  3,827
  3,923
  4,021
  4,121
  4,225
Total operating expenses, $m
  4,384
  4,527
  4,630
  4,741
  4,860
  4,989
  5,125
  5,270
  5,423
  5,585
  5,757
  5,690
  5,879
  6,078
  6,288
  6,507
  6,738
  6,979
  7,231
  7,496
  7,773
  8,063
  8,366
  8,683
  9,015
  9,362
  9,724
  10,104
  10,500
  10,914
  11,348
Operating income, $m
  656
  614
  630
  654
  686
  726
  774
  830
  894
  966
  1,046
  1,382
  1,480
  1,586
  1,701
  1,826
  1,961
  2,107
  2,263
  2,430
  2,609
  2,800
  3,005
  3,222
  3,454
  3,701
  3,964
  4,242
  4,538
  4,852
  5,185
EBITDA, $m
  839
  963
  981
  1,008
  1,043
  1,086
  1,138
  1,198
  1,266
  1,343
  1,428
  1,522
  1,625
  1,737
  1,859
  1,991
  2,133
  2,286
  2,450
  2,626
  2,814
  3,015
  3,229
  3,457
  3,700
  3,959
  4,234
  4,525
  4,835
  5,163
  5,512
Interest expense (income), $m
  254
  232
  238
  246
  255
  266
  277
  290
  303
  318
  334
  351
  369
  389
  409
  431
  455
  479
  506
  533
  563
  594
  626
  661
  697
  735
  775
  818
  862
  909
  959
Earnings before tax, $m
  398
  382
  391
  407
  430
  460
  497
  540
  591
  648
  712
  1,032
  1,111
  1,197
  1,292
  1,395
  1,507
  1,627
  1,757
  1,897
  2,046
  2,207
  2,378
  2,562
  2,758
  2,966
  3,188
  3,425
  3,676
  3,943
  4,227
Tax expense, $m
  40
  103
  106
  110
  116
  124
  134
  146
  159
  175
  192
  279
  300
  323
  349
  377
  407
  439
  474
  512
  553
  596
  642
  692
  745
  801
  861
  925
  993
  1,065
  1,141
Net income, $m
  357
  279
  286
  297
  314
  336
  363
  394
  431
  473
  520
  753
  811
  874
  943
  1,018
  1,100
  1,188
  1,283
  1,384
  1,494
  1,611
  1,736
  1,870
  2,013
  2,165
  2,327
  2,500
  2,683
  2,878
  3,085

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  275
  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
  7,069
  6,928
  7,088
  7,270
  7,474
  7,701
  7,950
  8,220
  8,513
  8,829
  9,168
  9,530
  9,917
  10,329
  10,767
  11,231
  11,723
  12,244
  12,795
  13,377
  13,992
  14,641
  15,325
  16,046
  16,805
  17,605
  18,448
  19,334
  20,267
  21,249
  22,281
Adjusted assets (=assets-cash), $m
  6,794
  6,928
  7,088
  7,270
  7,474
  7,701
  7,950
  8,220
  8,513
  8,829
  9,168
  9,530
  9,917
  10,329
  10,767
  11,231
  11,723
  12,244
  12,795
  13,377
  13,992
  14,641
  15,325
  16,046
  16,805
  17,605
  18,448
  19,334
  20,267
  21,249
  22,281
Revenue / Adjusted assets
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
  0.742
Average production assets, $m
  2,951
  3,013
  3,082
  3,161
  3,250
  3,348
  3,457
  3,574
  3,702
  3,839
  3,986
  4,144
  4,312
  4,491
  4,681
  4,883
  5,097
  5,324
  5,564
  5,817
  6,084
  6,366
  6,663
  6,977
  7,307
  7,655
  8,021
  8,407
  8,812
  9,239
  9,688
Working capital, $m
  537
  437
  447
  459
  471
  486
  501
  518
  537
  557
  578
  601
  625
  651
  679
  708
  739
  772
  807
  844
  882
  923
  967
  1,012
  1,060
  1,110
  1,163
  1,219
  1,278
  1,340
  1,405
Total debt, $m
  3,620
  3,554
  3,674
  3,811
  3,964
  4,134
  4,321
  4,524
  4,745
  4,982
  5,236
  5,508
  5,799
  6,108
  6,437
  6,786
  7,155
  7,546
  7,960
  8,397
  8,859
  9,346
  9,860
  10,401
  10,972
  11,573
  12,205
  12,871
  13,572
  14,309
  15,084
Total liabilities, $m
  5,269
  5,203
  5,323
  5,460
  5,613
  5,783
  5,970
  6,173
  6,394
  6,631
  6,885
  7,157
  7,448
  7,757
  8,086
  8,435
  8,804
  9,195
  9,609
  10,046
  10,508
  10,995
  11,509
  12,050
  12,621
  13,222
  13,854
  14,520
  15,221
  15,958
  16,733
Total equity, $m
  1,800
  1,725
  1,765
  1,810
  1,861
  1,918
  1,979
  2,047
  2,120
  2,198
  2,283
  2,373
  2,469
  2,572
  2,681
  2,797
  2,919
  3,049
  3,186
  3,331
  3,484
  3,646
  3,816
  3,995
  4,184
  4,384
  4,593
  4,814
  5,047
  5,291
  5,548
Total liabilities and equity, $m
  7,069
  6,928
  7,088
  7,270
  7,474
  7,701
  7,949
  8,220
  8,514
  8,829
  9,168
  9,530
  9,917
  10,329
  10,767
  11,232
  11,723
  12,244
  12,795
  13,377
  13,992
  14,641
  15,325
  16,045
  16,805
  17,606
  18,447
  19,334
  20,268
  21,249
  22,281
Debt-to-equity ratio
  2.011
  2.060
  2.080
  2.110
  2.130
  2.160
  2.180
  2.210
  2.240
  2.270
  2.290
  2.320
  2.350
  2.370
  2.400
  2.430
  2.450
  2.480
  2.500
  2.520
  2.540
  2.560
  2.580
  2.600
  2.620
  2.640
  2.660
  2.670
  2.690
  2.700
  2.720
Adjusted equity ratio
  0.224
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249
  0.249

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  357
  279
  286
  297
  314
  336
  363
  394
  431
  473
  520
  753
  811
  874
  943
  1,018
  1,100
  1,188
  1,283
  1,384
  1,494
  1,611
  1,736
  1,870
  2,013
  2,165
  2,327
  2,500
  2,683
  2,878
  3,085
Depreciation, amort., depletion, $m
  183
  349
  352
  354
  357
  361
  364
  368
  372
  377
  382
  140
  145
  151
  158
  164
  172
  179
  187
  196
  205
  214
  224
  235
  246
  258
  270
  283
  297
  311
  326
Funds from operations, $m
  621
  628
  637
  652
  671
  696
  727
  763
  804
  850
  902
  893
  956
  1,025
  1,101
  1,183
  1,271
  1,367
  1,470
  1,580
  1,699
  1,825
  1,961
  2,105
  2,259
  2,423
  2,598
  2,783
  2,980
  3,190
  3,412
Change in working capital, $m
  6
  9
  10
  11
  13
  14
  16
  17
  18
  20
  21
  23
  24
  26
  28
  29
  31
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  56
  59
  62
  65
Cash from operations, $m
  615
  620
  627
  640
  658
  682
  711
  745
  785
  830
  881
  870
  932
  999
  1,073
  1,153
  1,240
  1,334
  1,435
  1,544
  1,660
  1,784
  1,918
  2,060
  2,211
  2,373
  2,544
  2,727
  2,921
  3,128
  3,347
Maintenance CAPEX, $m
  0
  -99
  -101
  -104
  -106
  -109
  -113
  -116
  -120
  -125
  -129
  -134
  -140
  -145
  -151
  -158
  -164
  -172
  -179
  -187
  -196
  -205
  -214
  -224
  -235
  -246
  -258
  -270
  -283
  -297
  -311
New CAPEX, $m
  -95
  -62
  -69
  -79
  -89
  -99
  -108
  -118
  -127
  -137
  -147
  -158
  -168
  -179
  -190
  -202
  -214
  -227
  -240
  -253
  -267
  -282
  -297
  -313
  -330
  -348
  -366
  -386
  -406
  -427
  -449
Cash from investing activities, $m
  -98
  -161
  -170
  -183
  -195
  -208
  -221
  -234
  -247
  -262
  -276
  -292
  -308
  -324
  -341
  -360
  -378
  -399
  -419
  -440
  -463
  -487
  -511
  -537
  -565
  -594
  -624
  -656
  -689
  -724
  -760
Free cash flow, $m
  517
  459
  457
  457
  463
  474
  490
  511
  537
  568
  604
  578
  624
  675
  732
  794
  862
  936
  1,016
  1,103
  1,197
  1,298
  1,406
  1,522
  1,646
  1,779
  1,920
  2,072
  2,233
  2,404
  2,587
Issuance/(repayment) of debt, $m
  -335
  98
  120
  137
  154
  170
  187
  203
  220
  237
  254
  272
  290
  309
  329
  349
  370
  391
  414
  437
  462
  487
  514
  541
  570
  601
  633
  666
  701
  737
  775
Issuance/(repurchase) of shares, $m
  -43
  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  
  -401
  98
  120
  137
  154
  170
  187
  203
  220
  237
  254
  272
  290
  309
  329
  349
  370
  391
  414
  437
  462
  487
  514
  541
  570
  601
  633
  666
  701
  737
  775
Total cash flow (excl. dividends), $m
  114
  557
  576
  594
  617
  644
  677
  715
  757
  805
  858
  850
  914
  984
  1,060
  1,143
  1,232
  1,327
  1,430
  1,540
  1,658
  1,785
  1,919
  2,063
  2,216
  2,379
  2,553
  2,737
  2,933
  3,141
  3,362
Retained Cash Flow (-), $m
  -237
  -36
  -40
  -45
  -51
  -56
  -62
  -67
  -73
  -79
  -84
  -90
  -96
  -103
  -109
  -116
  -123
  -130
  -137
  -145
  -153
  -161
  -170
  -180
  -189
  -199
  -210
  -221
  -232
  -244
  -257
Prev. year cash balance distribution, $m
 
  111
  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
 
  632
  536
  549
  566
  588
  615
  647
  684
  727
  774
  760
  818
  882
  951
  1,027
  1,109
  1,198
  1,293
  1,395
  1,505
  1,623
  1,749
  1,884
  2,027
  2,180
  2,343
  2,517
  2,701
  2,897
  3,105
Discount rate, %
 
  9.20
  9.66
  10.14
  10.65
  11.18
  11.74
  12.33
  12.95
  13.59
  14.27
  14.99
  15.74
  16.52
  17.35
  18.22
  19.13
  20.08
  21.09
  22.14
  23.25
  24.41
  25.63
  26.91
  28.26
  29.67
  31.15
  32.71
  34.35
  36.07
  37.87
PV of cash for distribution, $m
 
  579
  446
  411
  377
  346
  316
  287
  258
  231
  204
  164
  142
  121
  101
  83
  67
  53
  41
  31
  23
  17
  12
  8
  5
  3
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100
  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

Spectrum Brands Holdings, Inc. (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions. It has five segments: Global Batteries & Appliances (GBA), Global Pet Supplies (PET), Home and Garden (H&G), Hardware & Home Improvement (HHI) and Global Auto Care (GAC). The Company's GBA segment includes product categories, such as consumer batteries, small appliances and personal care. The Company's HHI segment includes product categories, such as lockset, plumbing and hardware. The Company's PET segment's product categories include aquatics, companion animal and pet food. The Company's H&G segment's product categories include controls, household and repellents. The Company's GAC segment's product categories include appearance, performance and A/C recharge.

FINANCIAL RATIOS  of  Spectrum Brands Holdings (SPB)

Valuation Ratios
P/E Ratio 18.5
Price to Sales 1.3
Price to Book 3.7
Price to Tangible Book
Price to Cash Flow 10.7
Price to Free Cash Flow 12.7
Growth Rates
Sales Growth Rate 7.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.7%
Cap. Spend. - 3 Yr. Gr. Rate 3%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 192%
Total Debt to Equity 201.1%
Interest Coverage 3
Management Effectiveness
Return On Assets 8.2%
Ret/ On Assets - 3 Yr. Avg. 6.7%
Return On Total Capital 6.6%
Ret/ On T. Cap. - 3 Yr. Avg. 5%
Return On Equity 21.2%
Return On Equity - 3 Yr. Avg. 18.2%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 38.1%
Gross Margin - 3 Yr. Avg. 36.4%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 14.5%
Operating Margin 13%
Oper. Margin - 3 Yr. Avg. 11.3%
Pre-Tax Margin 7.9%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 7.1%
Net Profit Margin - 3 Yr. Avg. 5%
Effective Tax Rate 10.1%
Eff/ Tax Rate - 3 Yr. Avg. 18.1%
Payout Ratio 24.4%

SPB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SPB stock intrinsic value calculation we used $5040 million for the last fiscal year's total revenue generated by Spectrum Brands Holdings. The default revenue input number comes from 2016 income statement of Spectrum Brands Holdings. 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 SPB 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 9.2%, whose default value for SPB is calculated based on our internal credit rating of Spectrum Brands Holdings, 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 Spectrum Brands Holdings.
    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 SPB stock the variable cost ratio is equal to 48%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2014 million in the base year in the intrinsic value calculation for SPB 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 6.7% for Spectrum Brands Holdings.

Corporate tax rate of 27% is the nominal tax rate for Spectrum Brands Holdings. 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 SPB 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 SPB are equal to 58.6%.

Life of production assets of 29.7 years is the average useful life of capital assets used in Spectrum Brands Holdings 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 SPB is equal to 8.5%. 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 - $1800 million for Spectrum Brands Holdings - 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 58.075 million for Spectrum Brands Holdings 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 Spectrum Brands Holdings at the current share price and the inputted number of shares is $6.4 billion.

RELATED COMPANIES Price Int.Val. Rating
HRG HRG Group 16.74 1.96  str.sell
CENT Central Garden 39.01 51.70  buy
MAS Masco 42.02 13.11  str.sell
SWK Stanley Black& 166.05 295.19  str.buy
NC NACCO Industri 41.20 46.60  hold
WHR Whirlpool 167.04 200.06  hold
SMG Scotts Miracle 102.46 38.09  str.sell
FBHS Fortune Brands 67.32 63.55  hold

COMPANY NEWS

▶ Spectrum Brands misses 4Q profit forecasts   [06:49AM  Associated Press]
▶ Kwikset Smart Lock Solutions Work With Amazon Key   [Oct-25-17 11:59AM  PR Newswire]
▶ Spectrum Brands misses Street 3Q forecasts   [Jul-27-17 05:58PM  Associated Press]
▶ What's next for Spectrum Brands' $33M Dayton hub   [07:30AM  American City Business Journals]
▶ Can Spectrum Brands Holdings, Inc. Be a Value Stock?   [Jun-27-17 10:27AM  Motley Fool]
▶ Spectrum Brands already thinking of expansion of new airport facility   [May-05-17 02:30PM  American City Business Journals]
▶ Spectrum Brands misses Street 2Q forecasts   [May-02-17 06:37AM  Associated Press]
▶ Analyzing Scotts Miracle-Gros Valuation Multiple   [Apr-27-17 09:07AM  Market Realist]
Financial statements of SPB
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.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

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

Copyright © X-FIN.com 2005-2017. All rigths reserved.