Intrinsic value of Timken - TKR

Previous Close

$47.35

  Intrinsic Value

$71.27

stock screener

  Rating & Target

str. buy

+51%

Previous close

$47.35

 
Intrinsic value

$71.27

 
Up/down potential

+51%

 
Rating

str. buy

We calculate the intrinsic value of TKR 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 2017), $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 3.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.50
  11.75
  11.08
  10.47
  9.92
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.35
  7.12
  6.91
  6.72
  6.54
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
Revenue, $m
  3,380
  3,777
  4,195
  4,634
  5,094
  5,574
  6,075
  6,596
  7,139
  7,704
  8,290
  8,900
  9,533
  10,192
  10,876
  11,588
  12,329
  13,099
  13,902
  14,737
  15,609
  16,517
  17,465
  18,454
  19,488
  20,567
  21,695
  22,874
  24,108
  25,398
Variable operating expenses, $m
  2,253
  2,506
  2,774
  3,054
  3,348
  3,655
  3,975
  4,308
  4,655
  5,016
  5,297
  5,687
  6,092
  6,512
  6,950
  7,404
  7,878
  8,370
  8,883
  9,417
  9,974
  10,554
  11,160
  11,792
  12,452
  13,142
  13,863
  14,616
  15,404
  16,229
Fixed operating expenses, $m
  738
  754
  771
  788
  805
  823
  841
  859
  878
  898
  917
  937
  958
  979
  1,001
  1,023
  1,045
  1,068
  1,092
  1,116
  1,140
  1,165
  1,191
  1,217
  1,244
  1,271
  1,299
  1,328
  1,357
  1,387
Total operating expenses, $m
  2,991
  3,260
  3,545
  3,842
  4,153
  4,478
  4,816
  5,167
  5,533
  5,914
  6,214
  6,624
  7,050
  7,491
  7,951
  8,427
  8,923
  9,438
  9,975
  10,533
  11,114
  11,719
  12,351
  13,009
  13,696
  14,413
  15,162
  15,944
  16,761
  17,616
Operating income, $m
  389
  516
  651
  792
  941
  1,096
  1,259
  1,429
  1,606
  1,790
  2,076
  2,276
  2,484
  2,700
  2,926
  3,161
  3,406
  3,661
  3,927
  4,205
  4,495
  4,798
  5,114
  5,445
  5,792
  6,154
  6,533
  6,930
  7,346
  7,782
EBITDA, $m
  664
  813
  969
  1,135
  1,308
  1,490
  1,679
  1,877
  2,083
  2,298
  2,522
  2,754
  2,997
  3,249
  3,511
  3,784
  4,069
  4,366
  4,675
  4,998
  5,335
  5,686
  6,054
  6,438
  6,840
  7,260
  7,700
  8,161
  8,643
  9,149
Interest expense (income), $m
  0
  52
  65
  79
  94
  109
  126
  143
  160
  179
  198
  218
  238
  260
  282
  305
  329
  354
  380
  408
  436
  465
  496
  528
  561
  596
  633
  671
  710
  752
  795
Earnings before tax, $m
  337
  451
  571
  698
  831
  971
  1,117
  1,269
  1,428
  1,593
  1,858
  2,037
  2,224
  2,418
  2,621
  2,832
  3,051
  3,280
  3,520
  3,769
  4,030
  4,302
  4,586
  4,884
  5,195
  5,521
  5,862
  6,220
  6,595
  6,987
Tax expense, $m
  91
  122
  154
  189
  224
  262
  301
  343
  385
  430
  502
  550
  601
  653
  708
  765
  824
  886
  950
  1,018
  1,088
  1,161
  1,238
  1,319
  1,403
  1,491
  1,583
  1,679
  1,781
  1,887
Net income, $m
  246
  329
  417
  510
  607
  709
  815
  926
  1,042
  1,163
  1,356
  1,487
  1,624
  1,765
  1,913
  2,067
  2,227
  2,395
  2,569
  2,751
  2,942
  3,140
  3,348
  3,565
  3,793
  4,030
  4,280
  4,541
  4,814
  5,101

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
  3,827
  4,277
  4,751
  5,248
  5,769
  6,312
  6,880
  7,470
  8,085
  8,724
  9,389
  10,079
  10,797
  11,542
  12,317
  13,124
  13,962
  14,835
  15,744
  16,690
  17,677
  18,706
  19,779
  20,900
  22,070
  23,292
  24,570
  25,905
  27,302
  28,764
Adjusted assets (=assets-cash), $m
  3,827
  4,277
  4,751
  5,248
  5,769
  6,312
  6,880
  7,470
  8,085
  8,724
  9,389
  10,079
  10,797
  11,542
  12,317
  13,124
  13,962
  14,835
  15,744
  16,690
  17,677
  18,706
  19,779
  20,900
  22,070
  23,292
  24,570
  25,905
  27,302
  28,764
Revenue / Adjusted assets
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
  0.883
Average production assets, $m
  1,818
  2,032
  2,257
  2,493
  2,740
  2,999
  3,268
  3,549
  3,841
  4,145
  4,460
  4,788
  5,129
  5,483
  5,851
  6,234
  6,633
  7,047
  7,479
  7,929
  8,398
  8,886
  9,396
  9,929
  10,484
  11,065
  11,672
  12,306
  12,970
  13,664
Working capital, $m
  534
  597
  663
  732
  805
  881
  960
  1,042
  1,128
  1,217
  1,310
  1,406
  1,506
  1,610
  1,718
  1,831
  1,948
  2,070
  2,196
  2,329
  2,466
  2,610
  2,759
  2,916
  3,079
  3,250
  3,428
  3,614
  3,809
  4,013
Total debt, $m
  1,207
  1,466
  1,739
  2,026
  2,326
  2,639
  2,966
  3,306
  3,660
  4,028
  4,411
  4,809
  5,222
  5,651
  6,098
  6,562
  7,045
  7,548
  8,071
  8,616
  9,185
  9,777
  10,396
  11,041
  11,715
  12,419
  13,155
  13,924
  14,729
  15,571
Total liabilities, $m
  2,205
  2,464
  2,736
  3,023
  3,323
  3,636
  3,963
  4,303
  4,657
  5,025
  5,408
  5,806
  6,219
  6,648
  7,095
  7,559
  8,042
  8,545
  9,068
  9,614
  10,182
  10,775
  11,393
  12,038
  12,712
  13,416
  14,152
  14,921
  15,726
  16,568
Total equity, $m
  1,623
  1,813
  2,014
  2,225
  2,446
  2,676
  2,917
  3,167
  3,428
  3,699
  3,981
  4,274
  4,578
  4,894
  5,223
  5,564
  5,920
  6,290
  6,675
  7,077
  7,495
  7,931
  8,386
  8,861
  9,358
  9,876
  10,417
  10,984
  11,576
  12,196
Total liabilities and equity, $m
  3,828
  4,277
  4,750
  5,248
  5,769
  6,312
  6,880
  7,470
  8,085
  8,724
  9,389
  10,080
  10,797
  11,542
  12,318
  13,123
  13,962
  14,835
  15,743
  16,691
  17,677
  18,706
  19,779
  20,899
  22,070
  23,292
  24,569
  25,905
  27,302
  28,764
Debt-to-equity ratio
  0.740
  0.810
  0.860
  0.910
  0.950
  0.990
  1.020
  1.040
  1.070
  1.090
  1.110
  1.130
  1.140
  1.150
  1.170
  1.180
  1.190
  1.200
  1.210
  1.220
  1.230
  1.230
  1.240
  1.250
  1.250
  1.260
  1.260
  1.270
  1.270
  1.280
Adjusted equity ratio
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424
  0.424

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  246
  329
  417
  510
  607
  709
  815
  926
  1,042
  1,163
  1,356
  1,487
  1,624
  1,765
  1,913
  2,067
  2,227
  2,395
  2,569
  2,751
  2,942
  3,140
  3,348
  3,565
  3,793
  4,030
  4,280
  4,541
  4,814
  5,101
Depreciation, amort., depletion, $m
  275
  296
  319
  343
  367
  393
  420
  448
  477
  508
  446
  479
  513
  548
  585
  623
  663
  705
  748
  793
  840
  889
  940
  993
  1,048
  1,107
  1,167
  1,231
  1,297
  1,366
Funds from operations, $m
  521
  626
  736
  852
  974
  1,102
  1,235
  1,374
  1,519
  1,670
  1,803
  1,966
  2,136
  2,314
  2,498
  2,691
  2,891
  3,099
  3,317
  3,544
  3,781
  4,029
  4,288
  4,558
  4,841
  5,137
  5,447
  5,771
  6,111
  6,467
Change in working capital, $m
  59
  63
  66
  69
  73
  76
  79
  82
  86
  89
  93
  96
  100
  104
  108
  112
  117
  122
  127
  132
  138
  144
  150
  156
  163
  171
  178
  186
  195
  204
Cash from operations, $m
  462
  563
  670
  783
  901
  1,026
  1,156
  1,292
  1,434
  1,581
  1,710
  1,870
  2,036
  2,210
  2,390
  2,578
  2,774
  2,978
  3,190
  3,412
  3,644
  3,885
  4,138
  4,402
  4,678
  4,966
  5,269
  5,585
  5,916
  6,263
Maintenance CAPEX, $m
  -161
  -182
  -203
  -226
  -249
  -274
  -300
  -327
  -355
  -384
  -414
  -446
  -479
  -513
  -548
  -585
  -623
  -663
  -705
  -748
  -793
  -840
  -889
  -940
  -993
  -1,048
  -1,107
  -1,167
  -1,231
  -1,297
New CAPEX, $m
  -203
  -214
  -225
  -236
  -247
  -258
  -269
  -281
  -292
  -304
  -316
  -328
  -341
  -354
  -368
  -383
  -398
  -415
  -432
  -450
  -469
  -489
  -510
  -532
  -556
  -581
  -607
  -634
  -664
  -694
Cash from investing activities, $m
  -364
  -396
  -428
  -462
  -496
  -532
  -569
  -608
  -647
  -688
  -730
  -774
  -820
  -867
  -916
  -968
  -1,021
  -1,078
  -1,137
  -1,198
  -1,262
  -1,329
  -1,399
  -1,472
  -1,549
  -1,629
  -1,714
  -1,801
  -1,895
  -1,991
Free cash flow, $m
  97
  167
  242
  321
  405
  493
  587
  684
  787
  894
  980
  1,096
  1,217
  1,343
  1,474
  1,610
  1,752
  1,900
  2,054
  2,215
  2,382
  2,557
  2,739
  2,930
  3,129
  3,337
  3,555
  3,783
  4,022
  4,272
Issuance/(repayment) of debt, $m
  245
  259
  273
  286
  300
  313
  327
  340
  354
  368
  383
  398
  413
  429
  446
  464
  483
  503
  523
  545
  568
  593
  618
  645
  674
  704
  736
  769
  805
  842
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  
  245
  259
  273
  286
  300
  313
  327
  340
  354
  368
  383
  398
  413
  429
  446
  464
  483
  503
  523
  545
  568
  593
  618
  645
  674
  704
  736
  769
  805
  842
Total cash flow (excl. dividends), $m
  342
  426
  515
  607
  705
  807
  913
  1,025
  1,141
  1,262
  1,362
  1,494
  1,630
  1,772
  1,920
  2,074
  2,235
  2,403
  2,577
  2,760
  2,950
  3,150
  3,358
  3,575
  3,803
  4,041
  4,291
  4,552
  4,826
  5,114
Retained Cash Flow (-), $m
  -180
  -191
  -201
  -211
  -221
  -231
  -241
  -250
  -261
  -271
  -282
  -293
  -304
  -316
  -329
  -342
  -356
  -370
  -385
  -401
  -418
  -436
  -455
  -475
  -496
  -518
  -542
  -566
  -592
  -620
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
  24
  27
  30
  34
  37
  41
  45
  49
  53
  57
  62
  66
  71
  76
  82
  87
  93
  99
  105
  111
  118
  125
  132
  140
  148
  156
  165
  174
  183
  193
Cash available for distribution, $m
  162
  236
  314
  396
  484
  576
  673
  774
  880
  991
  1,081
  1,201
  1,326
  1,456
  1,591
  1,732
  1,879
  2,033
  2,192
  2,358
  2,532
  2,713
  2,903
  3,100
  3,307
  3,523
  3,749
  3,986
  4,234
  4,494
Discount rate, %
  6.80
  7.14
  7.50
  7.87
  8.27
  8.68
  9.11
  9.57
  10.05
  10.55
  11.08
  11.63
  12.21
  12.82
  13.46
  14.14
  14.84
  15.59
  16.37
  17.18
  18.04
  18.94
  19.89
  20.89
  21.93
  23.03
  24.18
  25.39
  26.66
  27.99
PV of cash for distribution, $m
  152
  205
  253
  293
  325
  350
  365
  373
  372
  363
  340
  321
  296
  269
  239
  209
  179
  150
  123
  99
  78
  60
  45
  33
  23
  16
  11
  7
  4
  3
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

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries. Its Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers, belts and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment and powersports markets; on-highway vehicles, including passenger cars, light trucks and medium- and heavy-duty trucks; rail cars, and locomotives. Its Process Industries segment supplies industrial bearings and assemblies, power transmission components, and related products and services to OEMs and end users.

FINANCIAL RATIOS  of  Timken (TKR)

Valuation Ratios
P/E Ratio 24
Price to Sales 1.4
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 9.1
Price to Free Cash Flow 13.9
Growth Rates
Sales Growth Rate -7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 30.2%
Cap. Spend. - 3 Yr. Gr. Rate -15.8%
Financial Strength
Quick Ratio 6
Current Ratio 0.2
LT Debt to Equity 49.6%
Total Debt to Equity 51.5%
Interest Coverage 0
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 2.5%
Return On Total Capital 7.8%
Ret/ On T. Cap. - 3 Yr. Avg. 3.6%
Return On Equity 11.7%
Return On Equity - 3 Yr. Avg. 5%
Asset Turnover 1
Profitability Ratios
Gross Margin 26.4%
Gross Margin - 3 Yr. Avg. 27.9%
EBITDA Margin 13.3%
EBITDA Margin - 3 Yr. Avg. 7.4%
Operating Margin 9.6%
Oper. Margin - 3 Yr. Avg. 3.7%
Pre-Tax Margin 8.3%
Pre-Tax Margin - 3 Yr. Avg. 2.8%
Net Profit Margin 5.7%
Net Profit Margin - 3 Yr. Avg. 2.9%
Effective Tax Rate 31.1%
Eff/ Tax Rate - 3 Yr. Avg. 40.8%
Payout Ratio 53.6%

TKR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TKR stock intrinsic value calculation we used $3004 million for the last fiscal year's total revenue generated by Timken. The default revenue input number comes from 2017 income statement of Timken. 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 TKR stock valuation model: a) initial revenue growth rate of 12.5% 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 6.8%, whose default value for TKR is calculated based on our internal credit rating of Timken, 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 Timken.
    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 TKR stock the variable cost ratio is equal to 67%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $722 million in the base year in the intrinsic value calculation for TKR 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 Timken.

Corporate tax rate of 27% is the nominal tax rate for Timken. 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 TKR stock is equal to 0.8%.

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 TKR are equal to 53.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Timken 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 TKR is equal to 15.8%. 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 - $1443 million for Timken - 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 78 million for Timken 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 Timken at the current share price and the inputted number of shares is $3.7 billion.

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COMPANY NEWS

▶ Bank Of America's Bearish Thesis On Timken Ends   [Aug-08-18 04:08PM  Benzinga]
▶ Timken Declares Quarterly Dividend of 28 Cents Per Share   [Aug-07-18 10:10AM  PR Newswire]
▶ Timken Company to Host Earnings Call   [Jul-31-18 09:00AM  ACCESSWIRE]
▶ Timken: 2Q Earnings Snapshot   [07:00AM  Associated Press]
▶ [$$] Timken to Buy Linear-Motion Products Company Rollon From PE Backers   [Jul-27-18 09:13AM  The Wall Street Journal]
▶ What Is Timken India Limiteds (NSE:TIMKEN) Share Price Doing?   [Jun-23-18 09:14PM  Simply Wall St.]
▶ U.S. Manufacturing Gathers Steam Under Trump: 5 Top Picks   [Jun-14-18 11:20AM  InvestorPlace]
▶ Timken Increases Dividend   [May-08-18 09:20AM  PR Newswire]
▶ Timken: 1Q Earnings Snapshot   [May-01-18 07:08AM  Associated Press]
▶ 5 Best Value Picks With a Tinge of Discounted PEG   [Apr-12-18 02:30PM  InvestorPlace]
▶ 5 Excellent GARP Picks With Discounted PEG   [Mar-29-18 09:31AM  Zacks]
▶ On Steel Tariffs, Its Timken vs. Timken   [Mar-27-18 07:00AM  Bloomberg]
▶ Timken Increases Outlook for 2018   [Mar-19-18 05:01PM  PR Newswire]
▶ Timken Declares Quarterly Dividend of 27 Cents Per Share   [Feb-09-18 11:01AM  PR Newswire]
▶ Timken Company to Host Earnings Call   [Feb-07-18 08:30AM  ACCESSWIRE]
▶ Timken beats Street 4Q forecasts   [07:13AM  Associated Press]
▶ Tech Image Chicago names new president   [Jan-09-18 12:40PM  American City Business Journals]
▶ ETFs with exposure to The Timken Co. : December 26, 2017   [Dec-26-17 12:14PM  Capital Cube]
▶ Timken Gets Relative Strength Rating Upgrade   [Dec-05-17 03:00AM  Investor's Business Daily]
▶ Timken Declares Quarterly Dividend of 27 Cents Per Share   [Nov-03-17 11:15AM  PR Newswire]
▶ Timken Company to Host Earnings Call   [Oct-25-17 07:15AM  ACCESSWIRE]
▶ Timken beats Street 3Q forecasts   [07:07AM  Associated Press]
▶ ETFs with exposure to The Timken Co. : October 16, 2017   [Oct-16-17 10:00AM  Capital Cube]
▶ Stocks Showing Improved Relative Strength: Timken   [Sep-13-17 03:00AM  Investor's Business Daily]
▶ Trump shuts down council after slew of CEOs quit   [Aug-16-17 02:01PM  Yahoo Finance]
▶ Timken Declares Quarterly Dividend Of 27 Cents Per Share   [Aug-08-17 10:15AM  PR Newswire]
▶ Timken beats Street 2Q forecasts   [Jul-26-17 09:35PM  Associated Press]
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