Intrinsic value of The Stars Group Inc. - TSG

Previous Close

$16.39

  Intrinsic Value

$143.88

stock screener

  Rating & Target

str. buy

+778%

Previous close

$16.39

 
Intrinsic value

$143.88

 
Up/down potential

+778%

 
Rating

str. buy

We calculate the intrinsic value of TSG 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 4.5

 

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, %
  54.60
  49.64
  45.18
  41.16
  37.54
  34.29
  31.36
  28.72
  26.35
  24.22
  22.29
  20.57
  19.01
  17.61
  16.35
  15.21
  14.19
  13.27
  12.44
  11.70
  11.03
  10.43
  9.88
  9.40
  8.96
  8.56
  8.20
  7.88
  7.60
  7.34
Revenue, $m
  3,137
  4,694
  6,815
  9,619
  13,231
  17,767
  23,339
  30,042
  37,959
  47,151
  57,663
  69,522
  82,737
  97,305
  113,211
  130,433
  148,943
  168,710
  189,706
  211,902
  235,275
  259,807
  285,488
  312,312
  340,284
  369,415
  399,725
  431,240
  463,996
  498,036
Variable operating expenses, $m
  1,521
  1,779
  2,130
  2,595
  3,193
  3,945
  4,868
  5,979
  7,291
  8,814
  9,555
  11,520
  13,710
  16,124
  18,759
  21,613
  24,680
  27,956
  31,435
  35,113
  38,986
  43,051
  47,306
  51,751
  56,386
  61,213
  66,236
  71,458
  76,885
  82,526
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
  1,521
  1,779
  2,130
  2,595
  3,193
  3,945
  4,868
  5,979
  7,291
  8,814
  9,555
  11,520
  13,710
  16,124
  18,759
  21,613
  24,680
  27,956
  31,435
  35,113
  38,986
  43,051
  47,306
  51,751
  56,386
  61,213
  66,236
  71,458
  76,885
  82,526
Operating income, $m
  1,616
  2,915
  4,684
  7,024
  10,037
  13,822
  18,471
  24,063
  30,668
  38,337
  48,108
  58,002
  69,027
  81,181
  94,452
  108,820
  124,262
  140,754
  158,271
  176,789
  196,289
  216,756
  238,182
  260,561
  283,898
  308,202
  333,489
  359,782
  387,111
  415,510
EBITDA, $m
  2,838
  4,247
  6,165
  8,703
  11,970
  16,074
  21,115
  27,180
  34,342
  42,659
  52,169
  62,898
  74,854
  88,034
  102,425
  118,006
  134,752
  152,636
  171,631
  191,712
  212,859
  235,054
  258,288
  282,556
  307,863
  334,219
  361,640
  390,153
  419,788
  450,585
Interest expense (income), $m
  0
  507
  869
  1,378
  2,070
  2,986
  4,165
  5,646
  7,466
  9,655
  12,240
  15,241
  18,674
  22,546
  26,861
  31,618
  36,812
  42,435
  48,480
  54,934
  61,790
  69,038
  76,670
  84,681
  93,066
  101,825
  110,959
  120,471
  130,368
  140,659
  151,355
Earnings before tax, $m
  1,110
  2,046
  3,307
  4,954
  7,052
  9,657
  12,824
  16,598
  21,014
  26,098
  32,867
  39,328
  46,481
  54,320
  62,834
  72,008
  81,827
  92,275
  103,337
  114,999
  127,251
  140,087
  153,501
  167,495
  182,073
  197,243
  213,018
  229,414
  246,452
  264,155
Tax expense, $m
  300
  552
  893
  1,338
  1,904
  2,607
  3,463
  4,481
  5,674
  7,046
  8,874
  10,619
  12,550
  14,666
  16,965
  19,442
  22,093
  24,914
  27,901
  31,050
  34,358
  37,823
  41,445
  45,224
  49,160
  53,256
  57,515
  61,942
  66,542
  71,322
Net income, $m
  810
  1,494
  2,414
  3,617
  5,148
  7,050
  9,362
  12,116
  15,340
  19,051
  23,993
  28,709
  33,931
  39,654
  45,869
  52,566
  59,734
  67,361
  75,436
  83,949
  92,894
  102,263
  112,056
  122,272
  132,913
  143,988
  155,503
  167,472
  179,910
  192,833

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
  17,427
  26,078
  37,858
  53,440
  73,503
  98,706
  129,660
  166,903
  210,883
  261,951
  320,351
  386,232
  459,649
  540,582
  628,950
  724,627
  827,459
  937,279
  1,053,920
  1,177,231
  1,307,082
  1,443,374
  1,586,044
  1,735,069
  1,890,468
  2,052,307
  2,220,693
  2,395,777
  2,577,756
  2,766,866
Adjusted assets (=assets-cash), $m
  17,427
  26,078
  37,858
  53,440
  73,503
  98,706
  129,660
  166,903
  210,883
  261,951
  320,351
  386,232
  459,649
  540,582
  628,950
  724,627
  827,459
  937,279
  1,053,920
  1,177,231
  1,307,082
  1,443,374
  1,586,044
  1,735,069
  1,890,468
  2,052,307
  2,220,693
  2,395,777
  2,577,756
  2,766,866
Revenue / Adjusted assets
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
  0.180
Average production assets, $m
  5,700
  8,529
  12,382
  17,478
  24,040
  32,283
  42,406
  54,587
  68,971
  85,674
  104,774
  126,321
  150,333
  176,803
  205,704
  236,997
  270,629
  306,546
  344,695
  385,025
  427,494
  472,070
  518,731
  567,472
  618,297
  671,228
  726,300
  783,563
  843,081
  904,931
Working capital, $m
  -1,189
  -1,779
  -2,583
  -3,646
  -5,014
  -6,734
  -8,845
  -11,386
  -14,386
  -17,870
  -21,854
  -26,349
  -31,357
  -36,878
  -42,907
  -49,434
  -56,449
  -63,941
  -71,898
  -80,311
  -89,169
  -98,467
  -108,200
  -118,366
  -128,968
  -140,008
  -151,496
  -163,440
  -175,854
  -188,756
Total debt, $m
  9,345
  14,812
  22,257
  32,105
  44,785
  60,713
  80,276
  103,813
  131,609
  163,884
  200,793
  242,429
  288,829
  339,979
  395,827
  456,295
  521,285
  590,691
  664,408
  742,341
  824,407
  910,543
  1,000,710
  1,094,894
  1,193,107
  1,295,389
  1,401,809
  1,512,462
  1,627,472
  1,746,990
Total liabilities, $m
  11,014
  16,481
  23,926
  33,774
  46,454
  62,382
  81,945
  105,482
  133,278
  165,553
  202,462
  244,098
  290,498
  341,648
  397,497
  457,965
  522,954
  592,360
  666,077
  744,010
  826,076
  912,212
  1,002,380
  1,096,563
  1,194,776
  1,297,058
  1,403,478
  1,514,131
  1,629,142
  1,748,659
Total equity, $m
  6,413
  9,597
  13,932
  19,666
  27,049
  36,324
  47,715
  61,420
  77,605
  96,398
  117,889
  142,133
  169,151
  198,934
  231,454
  266,663
  304,505
  344,919
  387,843
  433,221
  481,006
  531,162
  583,664
  638,505
  695,692
  755,249
  817,215
  881,646
  948,614
  1,018,207
Total liabilities and equity, $m
  17,427
  26,078
  37,858
  53,440
  73,503
  98,706
  129,660
  166,902
  210,883
  261,951
  320,351
  386,231
  459,649
  540,582
  628,951
  724,628
  827,459
  937,279
  1,053,920
  1,177,231
  1,307,082
  1,443,374
  1,586,044
  1,735,068
  1,890,468
  2,052,307
  2,220,693
  2,395,777
  2,577,756
  2,766,866
Debt-to-equity ratio
  1.460
  1.540
  1.600
  1.630
  1.660
  1.670
  1.680
  1.690
  1.700
  1.700
  1.700
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.710
  1.720
  1.720
  1.720
  1.720
  1.720
Adjusted equity ratio
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  810
  1,494
  2,414
  3,617
  5,148
  7,050
  9,362
  12,116
  15,340
  19,051
  23,993
  28,709
  33,931
  39,654
  45,869
  52,566
  59,734
  67,361
  75,436
  83,949
  92,894
  102,263
  112,056
  122,272
  132,913
  143,988
  155,503
  167,472
  179,910
  192,833
Depreciation, amort., depletion, $m
  1,222
  1,331
  1,481
  1,678
  1,933
  2,252
  2,645
  3,117
  3,674
  4,322
  4,061
  4,896
  5,827
  6,853
  7,973
  9,186
  10,489
  11,882
  13,360
  14,923
  16,570
  18,297
  20,106
  21,995
  23,965
  26,017
  28,151
  30,371
  32,678
  35,075
Funds from operations, $m
  2,032
  2,825
  3,895
  5,295
  7,080
  9,302
  12,006
  15,233
  19,014
  23,373
  28,054
  33,606
  39,758
  46,506
  53,842
  61,752
  70,223
  79,242
  88,796
  98,873
  109,463
  120,561
  132,162
  144,267
  156,878
  170,004
  183,654
  197,843
  212,587
  227,908
Change in working capital, $m
  -420
  -590
  -804
  -1,063
  -1,369
  -1,719
  -2,112
  -2,541
  -3,000
  -3,484
  -3,984
  -4,494
  -5,008
  -5,521
  -6,028
  -6,527
  -7,015
  -7,492
  -7,957
  -8,412
  -8,858
  -9,298
  -9,733
  -10,166
  -10,601
  -11,041
  -11,487
  -11,944
  -12,415
  -12,901
Cash from operations, $m
  2,452
  3,415
  4,699
  6,358
  8,449
  11,021
  14,118
  17,774
  22,014
  26,857
  32,038
  38,100
  44,767
  52,028
  59,870
  68,279
  77,238
  86,734
  96,753
  107,285
  118,321
  129,858
  141,895
  154,433
  167,480
  181,045
  195,142
  209,787
  225,002
  240,809
Maintenance CAPEX, $m
  -143
  -221
  -331
  -480
  -677
  -932
  -1,251
  -1,644
  -2,116
  -2,673
  -3,321
  -4,061
  -4,896
  -5,827
  -6,853
  -7,973
  -9,186
  -10,489
  -11,882
  -13,360
  -14,923
  -16,570
  -18,297
  -20,106
  -21,995
  -23,965
  -26,017
  -28,151
  -30,371
  -32,678
New CAPEX, $m
  -2,013
  -2,829
  -3,853
  -5,096
  -6,562
  -8,243
  -10,124
  -12,181
  -14,384
  -16,702
  -19,100
  -21,547
  -24,012
  -26,470
  -28,902
  -31,292
  -33,632
  -35,918
  -38,149
  -40,330
  -42,469
  -44,576
  -46,662
  -48,740
  -50,825
  -52,931
  -55,072
  -57,263
  -59,518
  -61,850
Cash from investing activities, $m
  -2,156
  -3,050
  -4,184
  -5,576
  -7,239
  -9,175
  -11,375
  -13,825
  -16,500
  -19,375
  -22,421
  -25,608
  -28,908
  -32,297
  -35,755
  -39,265
  -42,818
  -46,407
  -50,031
  -53,690
  -57,392
  -61,146
  -64,959
  -68,846
  -72,820
  -76,896
  -81,089
  -85,414
  -89,889
  -94,528
Free cash flow, $m
  296
  365
  515
  782
  1,210
  1,847
  2,743
  3,949
  5,514
  7,481
  9,617
  12,492
  15,859
  19,731
  24,116
  29,014
  34,420
  40,327
  46,723
  53,595
  60,929
  68,713
  76,936
  85,587
  94,660
  104,149
  114,053
  124,373
  135,113
  146,281
Issuance/(repayment) of debt, $m
  3,898
  5,467
  7,445
  9,848
  12,680
  15,928
  19,563
  23,537
  27,796
  32,275
  36,909
  41,636
  46,399
  51,150
  55,849
  60,468
  64,990
  69,406
  73,717
  77,933
  82,066
  86,136
  90,167
  94,184
  98,213
  102,282
  106,420
  110,653
  115,010
  119,517
Issuance/(repurchase) of shares, $m
  1,454
  1,690
  1,921
  2,117
  2,235
  2,225
  2,029
  1,589
  845
  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  
  5,352
  7,157
  9,366
  11,965
  14,915
  18,153
  21,592
  25,126
  28,641
  32,275
  36,909
  41,636
  46,399
  51,150
  55,849
  60,468
  64,990
  69,406
  73,717
  77,933
  82,066
  86,136
  90,167
  94,184
  98,213
  102,282
  106,420
  110,653
  115,010
  119,517
Total cash flow (excl. dividends), $m
  5,647
  7,522
  9,882
  12,747
  16,125
  20,000
  24,335
  29,076
  34,155
  39,756
  46,526
  54,128
  62,258
  70,881
  79,964
  89,482
  99,410
  109,733
  120,440
  131,527
  142,995
  154,850
  167,103
  179,771
  192,872
  206,431
  220,472
  235,026
  250,124
  265,799
Retained Cash Flow (-), $m
  -2,264
  -3,183
  -4,335
  -5,734
  -7,383
  -9,275
  -11,391
  -13,705
  -16,185
  -18,793
  -21,491
  -24,244
  -27,017
  -29,783
  -32,520
  -35,209
  -37,842
  -40,414
  -42,924
  -45,378
  -47,785
  -50,155
  -52,502
  -54,841
  -57,187
  -59,557
  -61,966
  -64,431
  -66,968
  -69,592
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
  3,383
  4,339
  5,546
  7,013
  8,742
  10,725
  12,944
  15,371
  17,970
  20,963
  25,035
  29,885
  35,241
  41,097
  47,445
  54,272
  61,568
  69,319
  77,516
  86,149
  95,210
  104,694
  114,601
  124,930
  135,685
  146,874
  158,507
  170,595
  183,156
  196,206
Discount rate, %
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
  3,127
  3,678
  4,278
  4,879
  5,436
  5,903
  6,239
  6,417
  6,421
  6,330
  6,304
  6,187
  5,908
  5,491
  4,967
  4,373
  3,747
  3,123
  2,531
  1,993
  1,525
  1,133
  816
  569
  385
  251
  158
  96
  57
  32
Current shareholders' claim on cash, %
  75.5
  60.7
  51.2
  44.9
  40.6
  37.7
  35.9
  34.8
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4
  34.4

FINANCIAL RATIOS  of  The Stars Group Inc. (TSG)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

TSG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TSG stock intrinsic value calculation we used $2029 million for the last fiscal year's total revenue generated by The Stars Group Inc.. The default revenue input number comes from 0001 income statement of The Stars Group Inc.. 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 TSG stock valuation model: a) initial revenue growth rate of 54.6% 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 8.2%, whose default value for TSG is calculated based on our internal credit rating of The Stars Group Inc., 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 The Stars Group Inc..
    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 TSG stock the variable cost ratio is equal to 65.9%.

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 TSG 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 9.3% for The Stars Group Inc..

Corporate tax rate of 27% is the nominal tax rate for The Stars Group Inc.. 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 TSG 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 TSG are equal to 181.7%.

Life of production assets of 25.8 years is the average useful life of capital assets used in The Stars Group Inc. 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 TSG is equal to -37.9%. 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 - $4149.419 million for The Stars Group Inc. - 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 273.438 million for The Stars Group Inc. 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 The Stars Group Inc. at the current share price and the inputted number of shares is $4.5 billion.

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