Intrinsic value of TransEnterix - TRXC

Previous Close

$2.88

  Intrinsic Value

$0.07

stock screener

  Rating & Target

str. sell

-98%

Previous close

$2.88

 
Intrinsic value

$0.07

 
Up/down potential

-98%

 
Rating

str. sell

We calculate the intrinsic value of TRXC 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 0.6

 

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, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  11
  18
  26
  38
  54
  74
  99
  130
  168
  212
  263
  322
  388
  461
  543
  631
  727
  830
  940
  1,057
  1,180
  1,310
  1,447
  1,590
  1,739
  1,895
  2,057
  2,225
  2,401
  2,583
Variable operating expenses, $m
  927
  1,426
  2,126
  3,079
  4,339
  5,961
  7,997
  10,496
  13,502
  17,051
  21,158
  25,868
  31,180
  37,098
  43,621
  50,741
  58,450
  66,734
  75,579
  84,973
  94,904
  105,361
  116,335
  127,823
  139,822
  152,334
  165,364
  178,921
  193,017
  207,668
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
  927
  1,426
  2,126
  3,079
  4,339
  5,961
  7,997
  10,496
  13,502
  17,051
  21,158
  25,868
  31,180
  37,098
  43,621
  50,741
  58,450
  66,734
  75,579
  84,973
  94,904
  105,361
  116,335
  127,823
  139,822
  152,334
  165,364
  178,921
  193,017
  207,668
Operating income, $m
  -916
  -1,408
  -2,100
  -3,041
  -4,285
  -5,887
  -7,897
  -10,366
  -13,335
  -16,839
  -20,895
  -25,547
  -30,792
  -36,637
  -43,078
  -50,110
  -57,723
  -65,903
  -74,639
  -83,917
  -93,724
  -104,050
  -114,888
  -126,233
  -138,083
  -150,439
  -163,307
  -176,695
  -190,616
  -205,085
EBITDA, $m
  -895
  -1,382
  -2,067
  -2,999
  -4,231
  -5,817
  -7,808
  -10,252
  -13,192
  -16,662
  -20,691
  -25,296
  -30,491
  -36,278
  -42,656
  -49,620
  -57,158
  -65,258
  -73,908
  -83,095
  -92,806
  -103,031
  -113,763
  -124,997
  -136,731
  -148,966
  -161,708
  -174,965
  -188,749
  -203,077
Interest expense (income), $m
  1
  2
  9
  18
  32
  50
  74
  105
  144
  192
  249
  317
  396
  486
  587
  700
  825
  961
  1,108
  1,266
  1,435
  1,615
  1,805
  2,005
  2,214
  2,434
  2,663
  2,902
  3,151
  3,410
  3,679
Earnings before tax, $m
  -918
  -1,417
  -2,118
  -3,073
  -4,335
  -5,961
  -8,002
  -10,510
  -13,526
  -17,088
  -21,212
  -25,942
  -31,278
  -37,224
  -43,778
  -50,935
  -58,684
  -67,012
  -75,906
  -85,352
  -95,339
  -105,855
  -116,893
  -128,447
  -140,516
  -153,102
  -166,209
  -179,846
  -194,026
  -208,764
Tax expense, $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
Net income, $m
  -918
  -1,417
  -2,118
  -3,073
  -4,335
  -5,961
  -8,002
  -10,510
  -13,526
  -17,088
  -21,212
  -25,942
  -31,278
  -37,224
  -43,778
  -50,935
  -58,684
  -67,012
  -75,906
  -85,352
  -95,339
  -105,855
  -116,893
  -128,447
  -140,516
  -153,102
  -166,209
  -179,846
  -194,026
  -208,764

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
  284
  439
  657
  954
  1,345
  1,850
  2,483
  3,260
  4,195
  5,298
  6,579
  8,044
  9,695
  11,536
  13,564
  15,778
  18,175
  20,751
  23,501
  26,422
  29,510
  32,762
  36,174
  39,746
  43,477
  47,368
  51,420
  55,635
  60,018
  64,574
Adjusted assets (=assets-cash), $m
  284
  439
  657
  954
  1,345
  1,850
  2,483
  3,260
  4,195
  5,298
  6,579
  8,044
  9,695
  11,536
  13,564
  15,778
  18,175
  20,751
  23,501
  26,422
  29,510
  32,762
  36,174
  39,746
  43,477
  47,368
  51,420
  55,635
  60,018
  64,574
Revenue / Adjusted assets
  0.039
  0.041
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
  0.040
Average production assets, $m
  103
  160
  239
  347
  489
  673
  903
  1,186
  1,526
  1,928
  2,394
  2,927
  3,528
  4,197
  4,935
  5,741
  6,613
  7,550
  8,551
  9,614
  10,737
  11,920
  13,162
  14,461
  15,819
  17,234
  18,709
  20,242
  21,837
  23,495
Working capital, $m
  -14
  -22
  -33
  -47
  -67
  -92
  -123
  -161
  -208
  -262
  -326
  -398
  -480
  -571
  -672
  -781
  -900
  -1,028
  -1,164
  -1,308
  -1,461
  -1,622
  -1,791
  -1,968
  -2,153
  -2,346
  -2,546
  -2,755
  -2,972
  -3,198
Total debt, $m
  54
  112
  194
  306
  454
  644
  883
  1,176
  1,528
  1,944
  2,427
  2,979
  3,602
  4,295
  5,060
  5,895
  6,798
  7,770
  8,807
  9,908
  11,072
  12,298
  13,584
  14,931
  16,338
  17,804
  19,332
  20,921
  22,573
  24,291
Total liabilities, $m
  107
  166
  248
  360
  507
  697
  936
  1,229
  1,581
  1,997
  2,480
  3,032
  3,655
  4,349
  5,114
  5,948
  6,852
  7,823
  8,860
  9,961
  11,125
  12,351
  13,638
  14,984
  16,391
  17,858
  19,385
  20,974
  22,627
  24,344
Total equity, $m
  177
  274
  409
  594
  838
  1,152
  1,547
  2,031
  2,613
  3,301
  4,099
  5,011
  6,040
  7,187
  8,450
  9,830
  11,323
  12,928
  14,641
  16,461
  18,385
  20,411
  22,537
  24,762
  27,086
  29,510
  32,034
  34,661
  37,391
  40,230
Total liabilities and equity, $m
  284
  440
  657
  954
  1,345
  1,849
  2,483
  3,260
  4,194
  5,298
  6,579
  8,043
  9,695
  11,536
  13,564
  15,778
  18,175
  20,751
  23,501
  26,422
  29,510
  32,762
  36,175
  39,746
  43,477
  47,368
  51,419
  55,635
  60,018
  64,574
Debt-to-equity ratio
  0.300
  0.410
  0.470
  0.520
  0.540
  0.560
  0.570
  0.580
  0.580
  0.590
  0.590
  0.590
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
  0.600
Adjusted equity ratio
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623
  0.623

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -918
  -1,417
  -2,118
  -3,073
  -4,335
  -5,961
  -8,002
  -10,510
  -13,526
  -17,088
  -21,212
  -25,942
  -31,278
  -37,224
  -43,778
  -50,935
  -58,684
  -67,012
  -75,906
  -85,352
  -95,339
  -105,855
  -116,893
  -128,447
  -140,516
  -153,102
  -166,209
  -179,846
  -194,026
  -208,764
Depreciation, amort., depletion, $m
  21
  26
  33
  42
  54
  70
  90
  114
  143
  177
  205
  250
  302
  359
  422
  491
  565
  645
  731
  822
  918
  1,019
  1,125
  1,236
  1,352
  1,473
  1,599
  1,730
  1,866
  2,008
Funds from operations, $m
  -897
  -1,391
  -2,085
  -3,031
  -4,281
  -5,891
  -7,913
  -10,396
  -13,383
  -16,911
  -21,008
  -25,692
  -30,976
  -36,865
  -43,356
  -50,444
  -58,118
  -66,366
  -75,175
  -84,530
  -94,421
  -104,836
  -115,768
  -127,211
  -139,164
  -151,629
  -164,610
  -178,116
  -192,160
  -206,756
Change in working capital, $m
  -5
  -8
  -11
  -15
  -19
  -25
  -31
  -38
  -46
  -55
  -63
  -73
  -82
  -91
  -100
  -110
  -119
  -128
  -136
  -145
  -153
  -161
  -169
  -177
  -185
  -193
  -201
  -209
  -217
  -226
Cash from operations, $m
  -891
  -1,383
  -2,074
  -3,016
  -4,261
  -5,866
  -7,881
  -10,357
  -13,337
  -16,857
  -20,944
  -25,619
  -30,894
  -36,774
  -43,256
  -50,335
  -58,000
  -66,239
  -75,039
  -84,386
  -94,268
  -104,675
  -115,599
  -127,034
  -138,980
  -151,436
  -164,409
  -177,907
  -191,943
  -206,531
Maintenance CAPEX, $m
  -5
  -9
  -14
  -20
  -30
  -42
  -58
  -77
  -101
  -130
  -165
  -205
  -250
  -302
  -359
  -422
  -491
  -565
  -645
  -731
  -822
  -918
  -1,019
  -1,125
  -1,236
  -1,352
  -1,473
  -1,599
  -1,730
  -1,866
New CAPEX, $m
  -40
  -56
  -79
  -108
  -143
  -183
  -230
  -283
  -340
  -402
  -466
  -533
  -601
  -670
  -738
  -806
  -872
  -937
  -1,001
  -1,063
  -1,124
  -1,183
  -1,242
  -1,300
  -1,358
  -1,416
  -1,474
  -1,534
  -1,595
  -1,658
Cash from investing activities, $m
  -45
  -65
  -93
  -128
  -173
  -225
  -288
  -360
  -441
  -532
  -631
  -738
  -851
  -972
  -1,097
  -1,228
  -1,363
  -1,502
  -1,646
  -1,794
  -1,946
  -2,101
  -2,261
  -2,425
  -2,594
  -2,768
  -2,947
  -3,133
  -3,325
  -3,524
Free cash flow, $m
  -937
  -1,448
  -2,167
  -3,144
  -4,434
  -6,091
  -8,169
  -10,717
  -13,779
  -17,389
  -21,575
  -26,357
  -31,746
  -37,745
  -44,353
  -51,562
  -59,362
  -67,741
  -76,685
  -86,179
  -96,213
  -106,776
  -117,859
  -129,459
  -141,573
  -154,204
  -167,356
  -181,040
  -195,267
  -210,055
Issuance/(repayment) of debt, $m
  41
  58
  82
  112
  148
  190
  239
  293
  352
  416
  483
  552
  623
  694
  765
  835
  904
  971
  1,037
  1,101
  1,164
  1,226
  1,287
  1,347
  1,407
  1,467
  1,527
  1,589
  1,652
  1,718
Issuance/(repurchase) of shares, $m
  985
  1,513
  2,254
  3,257
  4,579
  6,275
  8,397
  10,994
  14,109
  17,776
  22,010
  26,855
  32,307
  38,370
  45,042
  52,314
  60,177
  68,616
  77,619
  87,172
  97,262
  107,880
  119,019
  130,673
  142,841
  155,526
  168,733
  182,472
  196,757
  211,602
Cash from financing (excl. dividends), $m  
  1,026
  1,571
  2,336
  3,369
  4,727
  6,465
  8,636
  11,287
  14,461
  18,192
  22,493
  27,407
  32,930
  39,064
  45,807
  53,149
  61,081
  69,587
  78,656
  88,273
  98,426
  109,106
  120,306
  132,020
  144,248
  156,993
  170,260
  184,061
  198,409
  213,320
Total cash flow (excl. dividends), $m
  89
  124
  168
  225
  293
  374
  466
  570
  682
  803
  918
  1,050
  1,184
  1,319
  1,454
  1,587
  1,718
  1,846
  1,972
  2,094
  2,213
  2,331
  2,446
  2,560
  2,674
  2,789
  2,904
  3,022
  3,142
  3,265
Retained Cash Flow (-), $m
  -985
  -1,513
  -2,254
  -3,257
  -4,579
  -6,275
  -8,397
  -10,994
  -14,109
  -17,776
  -22,010
  -26,855
  -32,307
  -38,370
  -45,042
  -52,314
  -60,177
  -68,616
  -77,619
  -87,172
  -97,262
  -107,880
  -119,019
  -130,673
  -142,841
  -155,526
  -168,733
  -182,472
  -196,757
  -211,602
Prev. year cash balance distribution, $m
  69
  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
  -827
  -1,390
  -2,085
  -3,032
  -4,286
  -5,901
  -7,930
  -10,424
  -13,426
  -16,973
  -21,092
  -25,805
  -31,123
  -37,051
  -43,588
  -50,727
  -58,459
  -66,770
  -75,648
  -85,078
  -95,049
  -105,550
  -116,573
  -128,112
  -140,167
  -152,737
  -165,829
  -179,451
  -193,615
  -208,337
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
  -793
  -1,272
  -1,815
  -2,497
  -3,322
  -4,282
  -5,358
  -6,515
  -7,713
  -8,898
  -10,016
  -11,012
  -11,833
  -12,439
  -12,797
  -12,891
  -12,720
  -12,296
  -11,648
  -10,811
  -9,831
  -8,758
  -7,640
  -6,525
  -5,453
  -4,456
  -3,559
  -2,776
  -2,113
  -1,569
Current shareholders' claim on cash, %
  27.3
  7.7
  2.2
  0.7
  0.2
  0.1
  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
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

TransEnterix, Inc. is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company's ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera. The system features advanced technology to enable surgeons with haptic feedback and the ability to move the camera through eye movement. The system replicates laparoscopic motion and integrates three-dimensional high definition (3DHD) vision technology. The ALF-X System also offers responsible economics to hospitals by offering robotic technology with reusable instruments. The SurgiBot System is designed as a single-incision, patient-side robotic-assisted surgery system. The Company also develops and manufactures laparoscopic surgical instruments that are used in abdominal surgery, such as scissors, graspers, clip appliers, and suction and irrigation instruments.

FINANCIAL RATIOS  of  TransEnterix (TRXC)

Valuation Ratios
P/E Ratio -2.8
Price to Sales 166.6
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow -6.4
Price to Free Cash Flow -6.3
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 4.2%
Total Debt to Equity 11%
Interest Coverage -125
Management Effectiveness
Return On Assets -56%
Ret/ On Assets - 3 Yr. Avg. -36.5%
Return On Total Capital -73.2%
Ret/ On T. Cap. - 3 Yr. Avg. -44.3%
Return On Equity -81.4%
Return On Equity - 3 Yr. Avg. -48.8%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -5800%
EBITDA Margin - 3 Yr. Avg. -1933.3%
Operating Margin -6150%
Oper. Margin - 3 Yr. Avg. -2050%
Pre-Tax Margin -6300%
Pre-Tax Margin - 3 Yr. Avg. -2100%
Net Profit Margin -6000%
Net Profit Margin - 3 Yr. Avg. -2000%
Effective Tax Rate 4.8%
Eff/ Tax Rate - 3 Yr. Avg. 2.3%
Payout Ratio 0%

TRXC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TRXC stock intrinsic value calculation we used $7.111 million for the last fiscal year's total revenue generated by TransEnterix. The default revenue input number comes from 0001 income statement of TransEnterix. 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 TRXC stock valuation model: a) initial revenue growth rate of 60% 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 TRXC is calculated based on our internal credit rating of TransEnterix, 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 TransEnterix.
    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 TRXC stock the variable cost ratio is equal to 8214.3%.

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 TRXC 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 16.3% for TransEnterix.

Corporate tax rate of 27% is the nominal tax rate for TransEnterix. 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 TRXC 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 TRXC are equal to 909.6%.

Life of production assets of 11.7 years is the average useful life of capital assets used in TransEnterix 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 TRXC is equal to -123.8%. 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 - $178.848 million for TransEnterix - 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 208.969 million for TransEnterix 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 TransEnterix at the current share price and the inputted number of shares is $0.6 billion.

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COMPANY NEWS

▶ TransEnterix: 3Q Earnings Snapshot   [05:32PM  Associated Press]
▶ The most valuable public companies in the Triangle (Slideshow)   [Nov-05-18 02:29PM  American City Business Journals]
▶ Why TransEnterix, Inc. Sank 43.6% in October   [Nov-03-18 12:21PM  Motley Fool]
▶ The Reason TransEnterix Suddenly Plunged Today   [Oct-24-18 02:54PM  Motley Fool]
▶ Who Are The Top Investors In TransEnterix Inc (NYSEMKT:TRXC)?   [Oct-15-18 07:17AM  Simply Wall St.]
▶ Here's Why TransEnterix Is Soaring Today   [Oct-11-18 02:41PM  Motley Fool]
▶ TransEnterix Provides Corporate Update   [Oct-01-18 04:05PM  Business Wire]
▶ How Financially Strong Is TransEnterix Inc (NYSEMKT:TRXC)?   [Sep-21-18 01:59PM  Simply Wall St.]
▶ One trader's big call on Target   [Aug-22-18 01:59PM  CNBC Videos]
▶ Inside The List: Breakdown of size, location of NC's publicly traded companies   [Aug-17-18 01:32PM  American City Business Journals]
▶ Why TransEnterix Stock Rocketed Higher in July   [Aug-11-18 03:30PM  Motley Fool]
▶ Some highs, lows as RTP biotech companies report earnings   [Aug-10-18 05:25PM  American City Business Journals]
▶ Why TransEnterix Shares Dropped 11.7% Today   [Aug-07-18 05:50PM  Motley Fool]
▶ TransEnterix sees revenue climb on surgical robot sales   [02:35PM  American City Business Journals]
▶ TransEnterix: 2Q Earnings Snapshot   [07:32AM  Associated Press]
▶ The Triangle's top inside stock sales in the first half of 2018   [Jul-09-18 05:25PM  American City Business Journals]
▶ TransEnterix Provides Corporate Update   [Jul-02-18 06:55AM  Business Wire]
▶ TransEnterix, Inc. to Join the Russell 2000® Index   [Jun-25-18 06:55AM  Business Wire]
▶ 5 AI Biotech Stocks to Bet On Now   [Jun-14-18 01:41PM  InvestorPlace]
▶ This News Explains TransEnterix's Surging Share Price   [May-29-18 10:54AM  Motley Fool]
▶ Why TransEnterix, Inc. Stock Bolted Higher Today   [May-21-18 05:28PM  Motley Fool]
▶ These Stocks Have Quadrupled in Just 1 Year   [May-19-18 11:49AM  Motley Fool]
▶ 5 Must-Read Quotes From TransEnterix's Big First Quarter   [May-17-18 10:23AM  Motley Fool]
▶ Here's Why TransEnterix Is Soaring Today   [May-09-18 11:33AM  Motley Fool]
▶ TransEnterix: 1Q Earnings Snapshot   [May-08-18 06:01PM  Associated Press]
▶ Why TransEnterix Fell 10.5% in March   [Apr-05-18 10:55AM  Motley Fool]
▶ 3 Top Robotic-Surgery Stocks to Consider Buying Now   [Mar-25-18 09:09AM  Motley Fool]
▶ Is Intuitive Surgical, Inc. a Buy?   [Mar-21-18 06:02AM  Motley Fool]
▶ TransEnterix reports 4Q loss   [Mar-06-18 05:01PM  Associated Press]
▶ TransEnterix Q4 Earnings Preview   [08:19AM  Benzinga]
▶ What's Pushing Up TransEnterix Inc. Stock Today?   [Feb-26-18 03:12PM  Motley Fool]
▶ Why TransEnterix Is Rising Today   [Feb-21-18 04:05PM  Motley Fool]

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