Intrinsic value of TESARO - TSRO

Previous Close

$25.10

  Intrinsic Value

$0.88

stock screener

  Rating & Target

str. sell

-96%

Previous close

$25.10

 
Intrinsic value

$0.88

 
Up/down potential

-96%

 
Rating

str. sell

We calculate the intrinsic value of TSRO 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 1.4

 

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
  357
  552
  826
  1,198
  1,690
  2,323
  3,119
  4,095
  5,269
  6,656
  8,265
  10,105
  12,180
  14,491
  17,039
  19,821
  22,832
  26,068
  29,523
  33,193
  37,072
  41,156
  45,443
  49,930
  54,618
  59,505
  64,595
  69,890
  75,397
  81,120
Variable operating expenses, $m
  618
  952
  1,421
  2,060
  2,904
  3,990
  5,354
  7,028
  9,042
  11,419
  14,172
  17,327
  20,885
  24,849
  29,218
  33,988
  39,151
  44,699
  50,625
  56,917
  63,569
  70,573
  77,924
  85,618
  93,656
  102,036
  110,764
  119,845
  129,287
  139,100
Fixed operating expenses, $m
  329
  336
  344
  351
  359
  367
  375
  383
  392
  400
  409
  418
  427
  437
  446
  456
  466
  476
  487
  498
  509
  520
  531
  543
  555
  567
  579
  592
  605
  619
Total operating expenses, $m
  947
  1,288
  1,765
  2,411
  3,263
  4,357
  5,729
  7,411
  9,434
  11,819
  14,581
  17,745
  21,312
  25,286
  29,664
  34,444
  39,617
  45,175
  51,112
  57,415
  64,078
  71,093
  78,455
  86,161
  94,211
  102,603
  111,343
  120,437
  129,892
  139,719
Operating income, $m
  -590
  -737
  -939
  -1,213
  -1,573
  -2,033
  -2,610
  -3,316
  -4,164
  -5,163
  -6,317
  -7,640
  -9,133
  -10,794
  -12,625
  -14,623
  -16,785
  -19,108
  -21,588
  -24,222
  -27,006
  -29,936
  -33,012
  -36,231
  -39,593
  -43,098
  -46,749
  -50,547
  -54,495
  -58,599
EBITDA, $m
  -576
  -718
  -915
  -1,180
  -1,528
  -1,975
  -2,533
  -3,217
  -4,038
  -5,006
  -6,128
  -7,410
  -8,855
  -10,464
  -12,237
  -14,171
  -16,265
  -18,514
  -20,915
  -23,465
  -26,160
  -28,998
  -31,976
  -35,092
  -38,348
  -41,742
  -45,276
  -48,953
  -52,776
  -56,750
Interest expense (income), $m
  6
  30
  26
  47
  76
  115
  168
  235
  320
  424
  549
  697
  868
  1,064
  1,285
  1,531
  1,803
  2,099
  2,420
  2,765
  3,133
  3,523
  3,937
  4,372
  4,828
  5,306
  5,806
  6,326
  6,868
  7,432
  8,019
Earnings before tax, $m
  -620
  -762
  -986
  -1,289
  -1,688
  -2,201
  -2,845
  -3,636
  -4,588
  -5,712
  -7,013
  -8,509
  -10,197
  -12,080
  -14,157
  -16,426
  -18,884
  -21,528
  -24,353
  -27,355
  -30,529
  -33,873
  -37,383
  -41,059
  -44,899
  -48,904
  -53,075
  -57,415
  -61,928
  -66,618
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
  -620
  -762
  -986
  -1,289
  -1,688
  -2,201
  -2,845
  -3,636
  -4,588
  -5,712
  -7,013
  -8,509
  -10,197
  -12,080
  -14,157
  -16,426
  -18,884
  -21,528
  -24,353
  -27,355
  -30,529
  -33,873
  -37,383
  -41,059
  -44,899
  -48,904
  -53,075
  -57,415
  -61,928
  -66,618

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
  613
  947
  1,416
  2,055
  2,899
  3,985
  5,350
  7,024
  9,039
  11,416
  14,177
  17,332
  20,891
  24,856
  29,227
  33,998
  39,163
  44,713
  50,640
  56,934
  63,588
  70,594
  77,947
  85,644
  93,684
  102,067
  110,797
  119,881
  129,325
  139,142
Adjusted assets (=assets-cash), $m
  613
  947
  1,416
  2,055
  2,899
  3,985
  5,350
  7,024
  9,039
  11,416
  14,177
  17,332
  20,891
  24,856
  29,227
  33,998
  39,163
  44,713
  50,640
  56,934
  63,588
  70,594
  77,947
  85,644
  93,684
  102,067
  110,797
  119,881
  129,325
  139,142
Revenue / Adjusted assets
  0.582
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
  0.583
Average production assets, $m
  41
  63
  94
  137
  193
  265
  356
  467
  601
  759
  942
  1,152
  1,388
  1,652
  1,942
  2,260
  2,603
  2,972
  3,366
  3,784
  4,226
  4,692
  5,181
  5,692
  6,226
  6,784
  7,364
  7,968
  8,595
  9,248
Working capital, $m
  -38
  -59
  -88
  -128
  -181
  -249
  -334
  -438
  -564
  -712
  -884
  -1,081
  -1,303
  -1,551
  -1,823
  -2,121
  -2,443
  -2,789
  -3,159
  -3,552
  -3,967
  -4,404
  -4,862
  -5,343
  -5,844
  -6,367
  -6,912
  -7,478
  -8,067
  -8,680
Total debt, $m
  376
  676
  1,099
  1,673
  2,433
  3,411
  4,639
  6,146
  7,959
  10,099
  12,583
  15,423
  18,626
  22,195
  26,128
  30,422
  35,070
  40,066
  45,400
  51,065
  57,053
  63,358
  69,976
  76,904
  84,139
  91,684
  99,541
  107,717
  116,217
  125,052
Total liabilities, $m
  552
  852
  1,275
  1,849
  2,609
  3,587
  4,815
  6,322
  8,135
  10,275
  12,759
  15,599
  18,802
  22,371
  26,304
  30,598
  35,246
  40,242
  45,576
  51,241
  57,229
  63,534
  70,152
  77,080
  84,315
  91,860
  99,717
  107,893
  116,393
  125,228
Total equity, $m
  61
  95
  142
  205
  290
  399
  535
  702
  904
  1,142
  1,418
  1,733
  2,089
  2,486
  2,923
  3,400
  3,916
  4,471
  5,064
  5,693
  6,359
  7,059
  7,795
  8,564
  9,368
  10,207
  11,080
  11,988
  12,933
  13,914
Total liabilities and equity, $m
  613
  947
  1,417
  2,054
  2,899
  3,986
  5,350
  7,024
  9,039
  11,417
  14,177
  17,332
  20,891
  24,857
  29,227
  33,998
  39,162
  44,713
  50,640
  56,934
  63,588
  70,593
  77,947
  85,644
  93,683
  102,067
  110,797
  119,881
  129,326
  139,142
Debt-to-equity ratio
  6.130
  7.140
  7.760
  8.140
  8.390
  8.560
  8.670
  8.750
  8.810
  8.850
  8.880
  8.900
  8.920
  8.930
  8.940
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
  8.990
Adjusted equity ratio
  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
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -620
  -762
  -986
  -1,289
  -1,688
  -2,201
  -2,845
  -3,636
  -4,588
  -5,712
  -7,013
  -8,509
  -10,197
  -12,080
  -14,157
  -16,426
  -18,884
  -21,528
  -24,353
  -27,355
  -30,529
  -33,873
  -37,383
  -41,059
  -44,899
  -48,904
  -53,075
  -57,415
  -61,928
  -66,618
Depreciation, amort., depletion, $m
  14
  18
  24
  33
  44
  59
  77
  99
  126
  157
  188
  230
  278
  330
  388
  452
  521
  594
  673
  757
  845
  938
  1,036
  1,138
  1,245
  1,357
  1,473
  1,594
  1,719
  1,850
Funds from operations, $m
  -606
  -744
  -962
  -1,256
  -1,644
  -2,143
  -2,768
  -3,537
  -4,462
  -5,555
  -6,825
  -8,278
  -9,919
  -11,749
  -13,768
  -15,974
  -18,364
  -20,934
  -23,680
  -26,598
  -29,684
  -32,935
  -36,347
  -39,921
  -43,654
  -47,547
  -51,602
  -55,821
  -60,209
  -64,768
Change in working capital, $m
  -14
  -21
  -29
  -40
  -53
  -68
  -85
  -104
  -126
  -148
  -172
  -197
  -222
  -247
  -273
  -298
  -322
  -346
  -370
  -393
  -415
  -437
  -459
  -480
  -502
  -523
  -545
  -567
  -589
  -612
Cash from operations, $m
  -592
  -723
  -932
  -1,216
  -1,591
  -2,075
  -2,683
  -3,432
  -4,336
  -5,407
  -6,653
  -8,081
  -9,697
  -11,502
  -13,495
  -15,676
  -18,042
  -20,588
  -23,310
  -26,205
  -29,269
  -32,497
  -35,889
  -39,441
  -43,152
  -47,024
  -51,058
  -55,255
  -59,619
  -64,156
Maintenance CAPEX, $m
  -5
  -8
  -13
  -19
  -27
  -39
  -53
  -71
  -93
  -120
  -152
  -188
  -230
  -278
  -330
  -388
  -452
  -521
  -594
  -673
  -757
  -845
  -938
  -1,036
  -1,138
  -1,245
  -1,357
  -1,473
  -1,594
  -1,719
New CAPEX, $m
  -15
  -22
  -31
  -42
  -56
  -72
  -91
  -111
  -134
  -158
  -183
  -210
  -237
  -264
  -290
  -317
  -343
  -369
  -394
  -418
  -442
  -466
  -489
  -512
  -534
  -557
  -580
  -604
  -628
  -652
Cash from investing activities, $m
  -20
  -30
  -44
  -61
  -83
  -111
  -144
  -182
  -227
  -278
  -335
  -398
  -467
  -542
  -620
  -705
  -795
  -890
  -988
  -1,091
  -1,199
  -1,311
  -1,427
  -1,548
  -1,672
  -1,802
  -1,937
  -2,077
  -2,222
  -2,371
Free cash flow, $m
  -613
  -754
  -976
  -1,277
  -1,675
  -2,185
  -2,827
  -3,615
  -4,564
  -5,685
  -6,988
  -8,480
  -10,164
  -12,043
  -14,116
  -16,382
  -18,837
  -21,477
  -24,298
  -27,297
  -30,468
  -33,808
  -37,316
  -40,988
  -44,825
  -48,827
  -52,995
  -57,331
  -61,841
  -66,528
Issuance/(repayment) of debt, $m
  -61
  301
  422
  575
  760
  978
  1,228
  1,507
  1,813
  2,140
  2,484
  2,840
  3,203
  3,569
  3,933
  4,294
  4,648
  4,995
  5,334
  5,665
  5,988
  6,306
  6,618
  6,927
  7,236
  7,545
  7,857
  8,175
  8,500
  8,835
Issuance/(repurchase) of shares, $m
  912
  796
  1,033
  1,353
  1,773
  2,310
  2,982
  3,803
  4,789
  5,950
  7,289
  8,824
  10,553
  12,476
  14,594
  16,903
  19,401
  22,083
  24,946
  27,984
  31,194
  34,574
  38,119
  41,829
  45,703
  49,742
  53,948
  58,323
  62,872
  67,600
Cash from financing (excl. dividends), $m  
  851
  1,097
  1,455
  1,928
  2,533
  3,288
  4,210
  5,310
  6,602
  8,090
  9,773
  11,664
  13,756
  16,045
  18,527
  21,197
  24,049
  27,078
  30,280
  33,649
  37,182
  40,880
  44,737
  48,756
  52,939
  57,287
  61,805
  66,498
  71,372
  76,435
Total cash flow (excl. dividends), $m
  238
  343
  479
  650
  858
  1,102
  1,382
  1,696
  2,038
  2,405
  2,786
  3,185
  3,592
  4,002
  4,411
  4,815
  5,212
  5,601
  5,981
  6,352
  6,715
  7,071
  7,421
  7,768
  8,114
  8,460
  8,811
  9,167
  9,532
  9,907
Retained Cash Flow (-), $m
  -912
  -796
  -1,033
  -1,353
  -1,773
  -2,310
  -2,982
  -3,803
  -4,789
  -5,950
  -7,289
  -8,824
  -10,553
  -12,476
  -14,594
  -16,903
  -19,401
  -22,083
  -24,946
  -27,984
  -31,194
  -34,574
  -38,119
  -41,829
  -45,703
  -49,742
  -53,948
  -58,323
  -62,872
  -67,600
Prev. year cash balance distribution, $m
  479
  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
  -195
  -453
  -554
  -703
  -915
  -1,208
  -1,599
  -2,108
  -2,751
  -3,545
  -4,504
  -5,640
  -6,961
  -8,474
  -10,183
  -12,088
  -14,188
  -16,482
  -18,964
  -21,632
  -24,479
  -27,503
  -30,698
  -34,061
  -37,590
  -41,282
  -45,137
  -49,156
  -53,340
  -57,693
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
  -187
  -415
  -482
  -579
  -709
  -876
  -1,080
  -1,317
  -1,580
  -1,858
  -2,139
  -2,407
  -2,647
  -2,845
  -2,990
  -3,072
  -3,087
  -3,035
  -2,920
  -2,749
  -2,532
  -2,282
  -2,012
  -1,735
  -1,462
  -1,204
  -969
  -761
  -582
  -434
Current shareholders' claim on cash, %
  50.0
  14.9
  5.0
  1.8
  0.7
  0.3
  0.1
  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

TESARO, Inc. is an oncology-focused biopharmaceutical company. The Company operates through the business of developing and commercializing of oncology-focused therapeutics segment. It is developing oncology-related product candidates, including rolapitant, niraparib and the product candidates under its immuno-oncology platform. Rolapitant is a potent and long-acting neurokinin-1 receptor antagonist for the prevention of chemotherapy induced nausea and vomiting. Niraparib is an orally active and potent poly (adenosine diphosphate (ADP)-ribose) polymerase inhibitor. It has various ongoing clinical trials evaluating niraparib for the treatment of ovarian or breast cancers. It has initiated a Phase I, dose escalation study for its first immuno-oncology antibody, TSR-042, which targets Programmed cell death protein 1. It has commenced pre-clinical research for its antibody candidate targeting Lymphocyte-activation gene-3 andTSR-033. It has commenced a Phase I clinical trial of TSR-042.

FINANCIAL RATIOS  of  TESARO (TSRO)

Valuation Ratios
P/E Ratio -3.5
Price to Sales 29.9
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow -4.7
Price to Free Cash Flow -4.3
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15.8%
Cap. Spend. - 3 Yr. Gr. Rate 61.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 21%
Total Debt to Equity 21%
Interest Coverage -63
Management Effectiveness
Return On Assets -69.5%
Ret/ On Assets - 3 Yr. Avg. -83.1%
Return On Total Capital -80%
Ret/ On T. Cap. - 3 Yr. Avg. -95.6%
Return On Equity -108.3%
Return On Equity - 3 Yr. Avg. -161.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 93.3%
Gross Margin - 3 Yr. Avg. 31.1%
EBITDA Margin -837.8%
EBITDA Margin - 3 Yr. Avg. -279.3%
Operating Margin -824.4%
Oper. Margin - 3 Yr. Avg. -274.8%
Pre-Tax Margin -857.8%
Pre-Tax Margin - 3 Yr. Avg. -285.9%
Net Profit Margin -860%
Net Profit Margin - 3 Yr. Avg. -286.7%
Effective Tax Rate -0.3%
Eff/ Tax Rate - 3 Yr. Avg. -0.1%
Payout Ratio 0%

TSRO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TSRO stock intrinsic value calculation we used $223.326 million for the last fiscal year's total revenue generated by TESARO. The default revenue input number comes from 0001 income statement of TESARO. 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 TSRO 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 TSRO is calculated based on our internal credit rating of TESARO, 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 TESARO.
    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 TSRO stock the variable cost ratio is equal to 174%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $322 million in the base year in the intrinsic value calculation for TSRO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.9% for TESARO.

Corporate tax rate of 27% is the nominal tax rate for TESARO. 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 TSRO 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 TSRO are equal to 11.4%.

Life of production assets of 4.5 years is the average useful life of capital assets used in TESARO 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 TSRO is equal to -10.7%. 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 - $249.086 million for TESARO - 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 54.824 million for TESARO 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 TESARO at the current share price and the inputted number of shares is $1.4 billion.

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COMPANY NEWS

▶ Tesaro: 3Q Earnings Snapshot   [05:14PM  Associated Press]
▶ Here's Why Tesaro Inc. Dropped 13.8% Today   [Oct-24-18 06:49PM  Motley Fool]
▶ These Companies Are Dragging Biotech Stocks Into A Pit On Cancer Tests   [Oct-22-18 04:26PM  Investor's Business Daily]
▶ Why Tesaro, Inc. Is Tanking Today   [04:23PM  Motley Fool]
▶ TESARO Announces Data Presentations at ESMO 2018 Congress   [Oct-20-18 01:30AM  GlobeNewswire]
▶ Tesaro Bulls Double Their Money   [04:01PM  TheStreet.com]
▶ Biotech Gearing Up for a Pullback?   [Oct-10-18 10:35AM  Investopedia]
▶ 3 Ways to Unpack Some Hidden Treasure in Tesaro Stock   [Sep-24-18 10:19AM  InvestorPlace]
▶ TESARO Announces Participation at Two Investor Conferences   [Sep-19-18 04:15PM  GlobeNewswire]
▶ How Tesaro Hopes to Tackle Lung Cancer   [Sep-07-18 08:00AM  Motley Fool]
▶ Tesaro (TSRO) Surges: Stock Moves 5.5% Higher   [Sep-06-18 08:57AM  Zacks]
▶ This Biotech Got A Bullish Pop On Its Experimental Cancer Regimen   [Sep-05-18 04:17PM  Investor's Business Daily]
▶ Why Shake Shack, Tesaro, and Square Slumped Today   [Aug-03-18 04:44PM  Motley Fool]
▶ Tesaro: 2Q Earnings Snapshot   [07:02PM  Associated Press]
▶ TESARO, Inc. to Host Earnings Call   [02:15PM  ACCESSWIRE]
▶ Is Opko Health Getting Its Mojo Back?   [Jul-31-18 09:31PM  Motley Fool]
▶ The 3 Worst Biotech Stocks of 2018 (So Far)   [Jul-08-18 06:31AM  Motley Fool]
▶ Analysts Expect Breakeven For Tesaro Inc (NASDAQ:TSRO)   [Jun-27-18 11:42AM  Simply Wall St.]
▶ Why Tesaro Is Skyrocketing 14.2% Today   [02:39PM  Motley Fool]
▶ Loss-Making Tesaro Inc (NASDAQ:TSRO) Expected To Breakeven   [Jun-12-18 07:48AM  Simply Wall St.]
▶ 5 Top Stock Trades for Thursday Morning   [May-30-18 03:50PM  InvestorPlace]
▶ Is This Stock the Next Biotech Acquisition Target?   [May-22-18 09:15PM  Motley Fool]
▶ Tesaro Dives After First-Quarter Sales Lag On Wider-Than-Expected Losses   [May-03-18 05:40PM  Investor's Business Daily]
▶ Tesaro: 1Q Earnings Snapshot   [04:41PM  Associated Press]
▶ TESARO Announces Participation in Two Investor Conferences   [May-01-18 04:15PM  GlobeNewswire]
▶ Can This Smaller Biotech Actually Rival Merck, Bristol In Cancer Drugs?   [Apr-16-18 04:25PM  Investor's Business Daily]
▶ 3 Biotech Stocks Analysts Have Been Too Bullish On   [Apr-12-18 11:48AM  Investopedia]

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