Intrinsic value of TE Connectivity - TEL

Previous Close

$92.06

  Intrinsic Value

$90.56

stock screener

  Rating & Target

hold

-2%

Previous close

$92.06

 
Intrinsic value

$90.56

 
Up/down potential

-2%

 
Rating

hold

We calculate the intrinsic value of TEL 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 32.1

 

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, %
  11.80
  11.12
  10.51
  9.96
  9.46
  9.02
  8.61
  8.25
  7.93
  7.63
  7.37
  7.13
  6.92
  6.73
  6.56
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.40
  5.36
  5.32
Revenue, $m
  14,660
  16,291
  18,002
  19,795
  21,668
  23,621
  25,656
  27,773
  29,975
  32,263
  34,641
  37,113
  39,681
  42,351
  45,127
  48,015
  51,021
  54,151
  57,411
  60,809
  64,352
  68,049
  71,907
  75,935
  80,144
  84,543
  89,141
  93,951
  98,983
  104,249
Variable operating expenses, $m
  12,138
  13,405
  14,735
  16,127
  17,582
  19,100
  20,680
  22,325
  24,036
  25,813
  26,912
  28,831
  30,827
  32,901
  35,058
  37,302
  39,637
  42,068
  44,601
  47,240
  49,993
  52,865
  55,862
  58,992
  62,261
  65,678
  69,251
  72,987
  76,896
  80,987
Fixed operating expenses, $m
  132
  135
  138
  141
  144
  147
  150
  154
  157
  160
  164
  167
  171
  175
  179
  183
  187
  191
  195
  199
  204
  208
  213
  217
  222
  227
  232
  237
  242
  248
Total operating expenses, $m
  12,270
  13,540
  14,873
  16,268
  17,726
  19,247
  20,830
  22,479
  24,193
  25,973
  27,076
  28,998
  30,998
  33,076
  35,237
  37,485
  39,824
  42,259
  44,796
  47,439
  50,197
  53,073
  56,075
  59,209
  62,483
  65,905
  69,483
  73,224
  77,138
  81,235
Operating income, $m
  2,390
  2,751
  3,130
  3,527
  3,942
  4,375
  4,825
  5,294
  5,782
  6,289
  7,566
  8,114
  8,683
  9,275
  9,891
  10,531
  11,198
  11,892
  12,615
  13,369
  14,155
  14,976
  15,832
  16,726
  17,661
  18,637
  19,658
  20,726
  21,844
  23,014
EBITDA, $m
  3,601
  4,013
  4,446
  4,899
  5,373
  5,867
  6,382
  6,918
  7,475
  8,055
  8,657
  9,282
  9,932
  10,609
  11,312
  12,043
  12,804
  13,597
  14,423
  15,284
  16,182
  17,118
  18,096
  19,117
  20,184
  21,299
  22,465
  23,685
  24,961
  26,296
Interest expense (income), $m
  128
  235
  295
  360
  428
  499
  574
  651
  732
  816
  903
  994
  1,089
  1,187
  1,289
  1,395
  1,505
  1,620
  1,739
  1,863
  1,993
  2,128
  2,268
  2,415
  2,568
  2,728
  2,895
  3,070
  3,252
  3,443
  3,643
Earnings before tax, $m
  2,156
  2,456
  2,770
  3,099
  3,443
  3,801
  4,174
  4,562
  4,966
  5,386
  6,572
  7,025
  7,496
  7,986
  8,496
  9,026
  9,578
  10,153
  10,752
  11,377
  12,028
  12,708
  13,417
  14,158
  14,933
  15,742
  16,588
  17,474
  18,401
  19,371
Tax expense, $m
  582
  663
  748
  837
  929
  1,026
  1,127
  1,232
  1,341
  1,454
  1,774
  1,897
  2,024
  2,156
  2,294
  2,437
  2,586
  2,741
  2,903
  3,072
  3,248
  3,431
  3,623
  3,823
  4,032
  4,250
  4,479
  4,718
  4,968
  5,230
Net income, $m
  1,574
  1,793
  2,022
  2,262
  2,513
  2,775
  3,047
  3,331
  3,625
  3,932
  4,797
  5,128
  5,472
  5,830
  6,202
  6,589
  6,992
  7,412
  7,849
  8,305
  8,780
  9,276
  9,794
  10,335
  10,901
  11,492
  12,110
  12,756
  13,432
  14,140

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
  21,687
  24,098
  26,631
  29,282
  32,053
  34,943
  37,953
  41,085
  44,341
  47,727
  51,245
  54,900
  58,700
  62,649
  66,756
  71,029
  75,475
  80,105
  84,928
  89,954
  95,196
  100,664
  106,371
  112,331
  118,556
  125,063
  131,866
  138,980
  146,424
  154,214
Adjusted assets (=assets-cash), $m
  21,687
  24,098
  26,631
  29,282
  32,053
  34,943
  37,953
  41,085
  44,341
  47,727
  51,245
  54,900
  58,700
  62,649
  66,756
  71,029
  75,475
  80,105
  84,928
  89,954
  95,196
  100,664
  106,371
  112,331
  118,556
  125,063
  131,866
  138,980
  146,424
  154,214
Revenue / Adjusted assets
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
  0.676
Average production assets, $m
  7,755
  8,618
  9,523
  10,472
  11,462
  12,496
  13,572
  14,692
  15,857
  17,067
  18,325
  19,633
  20,991
  22,404
  23,872
  25,400
  26,990
  28,646
  30,370
  32,168
  34,042
  35,998
  38,039
  40,170
  42,396
  44,723
  47,156
  49,700
  52,362
  55,148
Working capital, $m
  1,759
  1,955
  2,160
  2,375
  2,600
  2,835
  3,079
  3,333
  3,597
  3,872
  4,157
  4,454
  4,762
  5,082
  5,415
  5,762
  6,123
  6,498
  6,889
  7,297
  7,722
  8,166
  8,629
  9,112
  9,617
  10,145
  10,697
  11,274
  11,878
  12,510
Total debt, $m
  5,470
  6,669
  7,927
  9,245
  10,622
  12,058
  13,554
  15,111
  16,730
  18,412
  20,161
  21,977
  23,866
  25,829
  27,870
  29,993
  32,203
  34,504
  36,901
  39,399
  42,004
  44,722
  47,558
  50,520
  53,615
  56,848
  60,229
  63,765
  67,465
  71,336
Total liabilities, $m
  10,778
  11,977
  13,235
  14,553
  15,930
  17,366
  18,862
  20,419
  22,038
  23,720
  25,469
  27,285
  29,174
  31,137
  33,178
  35,301
  37,511
  39,812
  42,209
  44,707
  47,312
  50,030
  52,866
  55,828
  58,923
  62,156
  65,537
  69,073
  72,773
  76,644
Total equity, $m
  10,909
  12,122
  13,395
  14,729
  16,123
  17,576
  19,090
  20,666
  22,304
  24,006
  25,776
  27,615
  29,526
  31,513
  33,578
  35,727
  37,964
  40,293
  42,719
  45,247
  47,883
  50,634
  53,505
  56,502
  59,634
  62,907
  66,328
  69,907
  73,651
  77,570
Total liabilities and equity, $m
  21,687
  24,099
  26,630
  29,282
  32,053
  34,942
  37,952
  41,085
  44,342
  47,726
  51,245
  54,900
  58,700
  62,650
  66,756
  71,028
  75,475
  80,105
  84,928
  89,954
  95,195
  100,664
  106,371
  112,330
  118,557
  125,063
  131,865
  138,980
  146,424
  154,214
Debt-to-equity ratio
  0.500
  0.550
  0.590
  0.630
  0.660
  0.690
  0.710
  0.730
  0.750
  0.770
  0.780
  0.800
  0.810
  0.820
  0.830
  0.840
  0.850
  0.860
  0.860
  0.870
  0.880
  0.880
  0.890
  0.890
  0.900
  0.900
  0.910
  0.910
  0.920
  0.920
Adjusted equity ratio
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503
  0.503

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,574
  1,793
  2,022
  2,262
  2,513
  2,775
  3,047
  3,331
  3,625
  3,932
  4,797
  5,128
  5,472
  5,830
  6,202
  6,589
  6,992
  7,412
  7,849
  8,305
  8,780
  9,276
  9,794
  10,335
  10,901
  11,492
  12,110
  12,756
  13,432
  14,140
Depreciation, amort., depletion, $m
  1,211
  1,262
  1,316
  1,373
  1,431
  1,493
  1,557
  1,624
  1,693
  1,765
  1,091
  1,169
  1,249
  1,334
  1,421
  1,512
  1,607
  1,705
  1,808
  1,915
  2,026
  2,143
  2,264
  2,391
  2,524
  2,662
  2,807
  2,958
  3,117
  3,283
Funds from operations, $m
  2,784
  3,055
  3,338
  3,635
  3,945
  4,268
  4,604
  4,954
  5,318
  5,697
  5,888
  6,297
  6,722
  7,163
  7,623
  8,101
  8,599
  9,117
  9,657
  10,220
  10,807
  11,419
  12,059
  12,727
  13,424
  14,154
  14,916
  15,714
  16,549
  17,423
Change in working capital, $m
  186
  196
  205
  215
  225
  234
  244
  254
  264
  275
  285
  297
  308
  320
  333
  347
  361
  376
  391
  408
  425
  444
  463
  483
  505
  528
  552
  577
  604
  632
Cash from operations, $m
  2,599
  2,859
  3,133
  3,420
  3,720
  4,033
  4,360
  4,700
  5,054
  5,422
  5,603
  6,000
  6,414
  6,843
  7,290
  7,754
  8,238
  8,741
  9,266
  9,812
  10,382
  10,976
  11,596
  12,243
  12,919
  13,626
  14,365
  15,137
  15,945
  16,791
Maintenance CAPEX, $m
  -413
  -462
  -513
  -567
  -623
  -682
  -744
  -808
  -875
  -944
  -1,016
  -1,091
  -1,169
  -1,249
  -1,334
  -1,421
  -1,512
  -1,607
  -1,705
  -1,808
  -1,915
  -2,026
  -2,143
  -2,264
  -2,391
  -2,524
  -2,662
  -2,807
  -2,958
  -3,117
New CAPEX, $m
  -814
  -862
  -906
  -948
  -991
  -1,033
  -1,076
  -1,120
  -1,165
  -1,211
  -1,258
  -1,307
  -1,359
  -1,412
  -1,469
  -1,528
  -1,590
  -1,656
  -1,725
  -1,798
  -1,874
  -1,955
  -2,041
  -2,131
  -2,226
  -2,327
  -2,433
  -2,544
  -2,662
  -2,786
Cash from investing activities, $m
  -1,227
  -1,324
  -1,419
  -1,515
  -1,614
  -1,715
  -1,820
  -1,928
  -2,040
  -2,155
  -2,274
  -2,398
  -2,528
  -2,661
  -2,803
  -2,949
  -3,102
  -3,263
  -3,430
  -3,606
  -3,789
  -3,981
  -4,184
  -4,395
  -4,617
  -4,851
  -5,095
  -5,351
  -5,620
  -5,903
Free cash flow, $m
  1,372
  1,535
  1,714
  1,904
  2,106
  2,318
  2,540
  2,772
  3,015
  3,268
  3,329
  3,602
  3,886
  4,181
  4,488
  4,806
  5,136
  5,479
  5,836
  6,207
  6,592
  6,994
  7,412
  7,848
  8,302
  8,776
  9,270
  9,786
  10,325
  10,889
Issuance/(repayment) of debt, $m
  1,126
  1,199
  1,259
  1,318
  1,377
  1,436
  1,496
  1,557
  1,619
  1,682
  1,748
  1,817
  1,888
  1,963
  2,041
  2,123
  2,210
  2,301
  2,397
  2,498
  2,605
  2,718
  2,837
  2,962
  3,094
  3,234
  3,381
  3,536
  3,699
  3,872
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  
  1,126
  1,199
  1,259
  1,318
  1,377
  1,436
  1,496
  1,557
  1,619
  1,682
  1,748
  1,817
  1,888
  1,963
  2,041
  2,123
  2,210
  2,301
  2,397
  2,498
  2,605
  2,718
  2,837
  2,962
  3,094
  3,234
  3,381
  3,536
  3,699
  3,872
Total cash flow (excl. dividends), $m
  2,498
  2,734
  2,973
  3,222
  3,483
  3,754
  4,036
  4,329
  4,634
  4,950
  5,077
  5,419
  5,775
  6,144
  6,529
  6,929
  7,346
  7,780
  8,233
  8,705
  9,197
  9,712
  10,249
  10,810
  11,396
  12,009
  12,651
  13,322
  14,025
  14,760
Retained Cash Flow (-), $m
  -1,158
  -1,213
  -1,274
  -1,334
  -1,394
  -1,454
  -1,514
  -1,575
  -1,638
  -1,703
  -1,770
  -1,839
  -1,911
  -1,987
  -2,066
  -2,149
  -2,237
  -2,329
  -2,426
  -2,528
  -2,636
  -2,750
  -2,871
  -2,998
  -3,132
  -3,273
  -3,422
  -3,579
  -3,744
  -3,918
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
  1,341
  1,521
  1,699
  1,889
  2,089
  2,300
  2,522
  2,754
  2,996
  3,248
  3,308
  3,580
  3,863
  4,158
  4,463
  4,780
  5,109
  5,451
  5,807
  6,176
  6,561
  6,961
  7,378
  7,812
  8,264
  8,737
  9,229
  9,743
  10,281
  10,842
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
  1,286
  1,392
  1,479
  1,555
  1,619
  1,669
  1,704
  1,721
  1,721
  1,703
  1,571
  1,528
  1,469
  1,396
  1,310
  1,215
  1,112
  1,004
  894
  785
  679
  578
  484
  398
  321
  255
  198
  151
  112
  82
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

TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies. Its products are used in the automotive, commercial transportation and sensors markets. It sells primary products, including terminals and connector systems and components, sensors, relays, application tooling, and wire and heat shrink tubing. The Industrial Solutions segment is a supplier of products that connect and distribute power, data and signals. The Industrial Solutions segment offers products, such as terminals and connector systems and components; heat shrink tubing; relays, and wire and cable. The Communications Solutions segment is a supplier of electronic components for the data and devices and appliances markets.

FINANCIAL RATIOS  of  TE Connectivity (TEL)

Valuation Ratios
P/E Ratio 19.2
Price to Sales 2.5
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 14
Price to Free Cash Flow 20
Growth Rates
Sales Growth Rate 7.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 11.8%
Cap. Spend. - 3 Yr. Gr. Rate 2%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 37.3%
Total Debt to Equity 44.5%
Interest Coverage 16
Management Effectiveness
Return On Assets 9.7%
Ret/ On Assets - 3 Yr. Avg. 11.2%
Return On Total Capital 12.6%
Ret/ On T. Cap. - 3 Yr. Avg. 15.5%
Return On Equity 18.5%
Return On Equity - 3 Yr. Avg. 22.2%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 33.9%
Gross Margin - 3 Yr. Avg. 33.4%
EBITDA Margin 20.5%
EBITDA Margin - 3 Yr. Avg. 18.2%
Operating Margin 15.6%
Oper. Margin - 3 Yr. Avg. 15.1%
Pre-Tax Margin 14.7%
Pre-Tax Margin - 3 Yr. Avg. 12.4%
Net Profit Margin 12.8%
Net Profit Margin - 3 Yr. Avg. 16.3%
Effective Tax Rate 13.2%
Eff/ Tax Rate - 3 Yr. Avg. -10.8%
Payout Ratio 32.4%

TEL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TEL stock intrinsic value calculation we used $13113 million for the last fiscal year's total revenue generated by TE Connectivity. The default revenue input number comes from 0001 income statement of TE Connectivity. 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 TEL stock valuation model: a) initial revenue growth rate of 11.8% 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 TEL is calculated based on our internal credit rating of TE Connectivity, 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 TE Connectivity.
    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 TEL stock the variable cost ratio is equal to 83.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $129 million in the base year in the intrinsic value calculation for TEL 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 TE Connectivity.

Corporate tax rate of 27% is the nominal tax rate for TE Connectivity. 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 TEL 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 TEL are equal to 52.9%.

Life of production assets of 16.8 years is the average useful life of capital assets used in TE Connectivity 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 TEL is equal to 12%. 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 - $9751 million for TE Connectivity - 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 348.459 million for TE Connectivity 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 TE Connectivity at the current share price and the inputted number of shares is $32.1 billion.

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COMPANY NEWS

▶ A Moat Upgrade for TE Connectivity   [Sep-14-18 06:33AM  Morningstar]
▶ TE Connectivity to close plant in Massachusetts, lay off 86   [Sep-12-18 01:25PM  American City Business Journals]
▶ TE Connectivity to close plant in Worcester, lay off 86   [06:24AM  American City Business Journals]
▶ Why Fortune says TE Connectivity, with U.S. HQ in Berwyn, is changing the world   [Aug-21-18 02:18PM  American City Business Journals]
▶ TE Connectivity: Fiscal 3Q Earnings Snapshot   [06:26AM  Associated Press]
▶ Earnings Preview: TE Connectivity   [Jul-24-18 04:16PM  Benzinga]
▶ Automotive Chip Makers Take a Hit on Trade and Tariffs   [Jun-29-18 04:58PM  Barrons.com]
▶ PLDT's First-Quarter Core Income Up 13 Percent   [May-10-18 11:40PM  Bloomberg Video]
▶ [$$] TE Connectivity Poised for 50% Jump   [May-08-18 05:20PM  Barrons.com]
▶ TE Connectivity: Fiscal 2Q Earnings Snapshot   [06:14AM  Associated Press]
▶ David Herro's Picks in the Fourth Quarter   [Feb-27-18 05:01PM  GuruFocus.com]
▶ Telenor CEO Says Focus Now Is to Not Expand   [02:58AM  Bloomberg Video]
▶ US Stocks Green Wednesday   [11:12AM  GuruFocus.com]
▶ TE Connectivity reports 1Q loss   [06:19AM  Associated Press]

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