Intrinsic value of Tupperware Brands - TUP

Previous Close

$64.14

  Intrinsic Value

$44.39

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  Rating & Target

sell

-31%

Previous close

$64.14

 
Intrinsic value

$44.39

 
Up/down potential

-31%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of TUP 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 2016), $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 3.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   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

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -3.11
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,213
  2,257
  2,309
  2,369
  2,435
  2,509
  2,590
  2,678
  2,774
  2,877
  2,987
  3,105
  3,231
  3,365
  3,508
  3,659
  3,819
  3,989
  4,169
  4,358
  4,559
  4,770
  4,993
  5,228
  5,475
  5,736
  6,010
  6,299
  6,603
  6,923
  7,259
Variable operating expenses, $m
 
  1,945
  1,990
  2,041
  2,098
  2,161
  2,230
  2,306
  2,388
  2,476
  2,570
  2,658
  2,766
  2,881
  3,003
  3,132
  3,269
  3,415
  3,568
  3,731
  3,902
  4,083
  4,274
  4,475
  4,687
  4,910
  5,145
  5,392
  5,652
  5,926
  6,214
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
  1,866
  1,945
  1,990
  2,041
  2,098
  2,161
  2,230
  2,306
  2,388
  2,476
  2,570
  2,658
  2,766
  2,881
  3,003
  3,132
  3,269
  3,415
  3,568
  3,731
  3,902
  4,083
  4,274
  4,475
  4,687
  4,910
  5,145
  5,392
  5,652
  5,926
  6,214
Operating income, $m
  347
  312
  319
  328
  337
  348
  360
  372
  386
  401
  417
  447
  465
  485
  505
  527
  550
  574
  600
  628
  656
  687
  719
  753
  788
  826
  866
  907
  951
  997
  1,045
EBITDA, $m
  405
  367
  375
  385
  396
  408
  421
  435
  451
  468
  485
  505
  525
  547
  570
  595
  621
  648
  678
  708
  741
  775
  811
  850
  890
  932
  977
  1,024
  1,073
  1,125
  1,180
Interest expense (income), $m
  47
  38
  40
  42
  44
  46
  49
  52
  55
  58
  62
  66
  70
  75
  80
  85
  90
  96
  102
  109
  116
  123
  131
  139
  147
  156
  166
  175
  186
  197
  208
Earnings before tax, $m
  301
  274
  279
  286
  294
  302
  311
  321
  331
  342
  355
  381
  395
  410
  425
  442
  460
  478
  498
  519
  541
  564
  588
  614
  641
  670
  700
  732
  765
  800
  837
Tax expense, $m
  77
  74
  75
  77
  79
  81
  84
  87
  89
  92
  96
  103
  107
  111
  115
  119
  124
  129
  134
  140
  146
  152
  159
  166
  173
  181
  189
  198
  207
  216
  226
Net income, $m
  224
  200
  204
  209
  214
  220
  227
  234
  242
  250
  259
  278
  288
  299
  310
  323
  335
  349
  364
  379
  395
  412
  430
  448
  468
  489
  511
  534
  558
  584
  611

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  134
  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
  1,588
  1,483
  1,517
  1,556
  1,600
  1,648
  1,702
  1,760
  1,822
  1,890
  1,962
  2,040
  2,123
  2,211
  2,305
  2,404
  2,510
  2,621
  2,739
  2,864
  2,995
  3,134
  3,280
  3,435
  3,597
  3,769
  3,949
  4,139
  4,338
  4,549
  4,770
Adjusted assets (=assets-cash), $m
  1,454
  1,483
  1,517
  1,556
  1,600
  1,648
  1,702
  1,760
  1,822
  1,890
  1,962
  2,040
  2,123
  2,211
  2,305
  2,404
  2,510
  2,621
  2,739
  2,864
  2,995
  3,134
  3,280
  3,435
  3,597
  3,769
  3,949
  4,139
  4,338
  4,549
  4,770
Revenue / Adjusted assets
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.523
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
  1.522
Average production assets, $m
  332
  339
  346
  355
  365
  376
  388
  402
  416
  431
  448
  466
  485
  505
  526
  549
  573
  598
  625
  654
  684
  715
  749
  784
  821
  860
  902
  945
  990
  1,038
  1,089
Working capital, $m
  -3
  -32
  -32
  -33
  -34
  -35
  -36
  -37
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
  -64
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -92
  -97
  -102
Total debt, $m
  712
  632
  662
  696
  734
  776
  823
  873
  928
  987
  1,050
  1,118
  1,190
  1,267
  1,349
  1,436
  1,528
  1,625
  1,728
  1,837
  1,952
  2,073
  2,201
  2,336
  2,477
  2,627
  2,784
  2,950
  3,124
  3,308
  3,501
Total liabilities, $m
  1,375
  1,295
  1,325
  1,359
  1,397
  1,439
  1,486
  1,536
  1,591
  1,650
  1,713
  1,781
  1,853
  1,930
  2,012
  2,099
  2,191
  2,288
  2,391
  2,500
  2,615
  2,736
  2,864
  2,999
  3,140
  3,290
  3,447
  3,613
  3,787
  3,971
  4,164
Total equity, $m
  213
  188
  193
  198
  203
  209
  216
  223
  231
  240
  249
  259
  270
  281
  293
  305
  319
  333
  348
  364
  380
  398
  417
  436
  457
  479
  502
  526
  551
  578
  606
Total liabilities and equity, $m
  1,588
  1,483
  1,518
  1,557
  1,600
  1,648
  1,702
  1,759
  1,822
  1,890
  1,962
  2,040
  2,123
  2,211
  2,305
  2,404
  2,510
  2,621
  2,739
  2,864
  2,995
  3,134
  3,281
  3,435
  3,597
  3,769
  3,949
  4,139
  4,338
  4,549
  4,770
Debt-to-equity ratio
  3.343
  3.350
  3.430
  3.520
  3.610
  3.710
  3.810
  3.910
  4.010
  4.110
  4.210
  4.320
  4.410
  4.510
  4.610
  4.700
  4.790
  4.880
  4.970
  5.050
  5.130
  5.210
  5.280
  5.350
  5.420
  5.490
  5.550
  5.610
  5.670
  5.730
  5.780
Adjusted equity ratio
  0.054
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127
  0.127

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  224
  200
  204
  209
  214
  220
  227
  234
  242
  250
  259
  278
  288
  299
  310
  323
  335
  349
  364
  379
  395
  412
  430
  448
  468
  489
  511
  534
  558
  584
  611
Depreciation, amort., depletion, $m
  58
  55
  56
  57
  58
  60
  61
  63
  65
  67
  69
  58
  60
  62
  65
  68
  71
  74
  77
  81
  84
  88
  92
  97
  101
  106
  111
  117
  122
  128
  134
Funds from operations, $m
  213
  255
  260
  266
  273
  280
  288
  297
  306
  317
  328
  336
  348
  361
  375
  390
  406
  423
  441
  459
  479
  500
  522
  545
  570
  595
  622
  651
  681
  712
  745
Change in working capital, $m
  -26
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
Cash from operations, $m
  239
  255
  261
  267
  274
  281
  289
  298
  308
  318
  329
  337
  350
  363
  377
  393
  408
  425
  443
  462
  482
  503
  525
  548
  573
  599
  626
  655
  685
  717
  750
Maintenance CAPEX, $m
  0
  -41
  -42
  -43
  -44
  -45
  -46
  -48
  -50
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -68
  -71
  -74
  -77
  -81
  -84
  -88
  -92
  -97
  -101
  -106
  -111
  -117
  -122
  -128
New CAPEX, $m
  -62
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -17
  -18
  -19
  -20
  -21
  -23
  -24
  -25
  -27
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -46
  -48
  -50
Cash from investing activities, $m
  -26
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -64
  -66
  -70
  -73
  -77
  -80
  -83
  -88
  -92
  -96
  -101
  -105
  -111
  -116
  -121
  -127
  -134
  -140
  -147
  -154
  -163
  -170
  -178
Free cash flow, $m
  213
  208
  211
  215
  220
  225
  231
  237
  244
  251
  259
  264
  273
  283
  294
  305
  317
  329
  342
  356
  371
  387
  403
  421
  439
  458
  479
  500
  523
  547
  572
Issuance/(repayment) of debt, $m
  -54
  26
  30
  34
  38
  42
  46
  51
  55
  59
  63
  68
  72
  77
  82
  87
  92
  97
  103
  109
  115
  121
  128
  135
  142
  150
  157
  166
  174
  183
  193
Issuance/(repurchase) of shares, $m
  -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
Cash from financing (excl. dividends), $m  
  -54
  26
  30
  34
  38
  42
  46
  51
  55
  59
  63
  68
  72
  77
  82
  87
  92
  97
  103
  109
  115
  121
  128
  135
  142
  150
  157
  166
  174
  183
  193
Total cash flow (excl. dividends), $m
  152
  234
  241
  249
  258
  267
  277
  288
  299
  310
  323
  332
  346
  360
  376
  392
  409
  427
  445
  465
  486
  508
  531
  555
  581
  608
  636
  666
  697
  730
  764
Retained Cash Flow (-), $m
  -52
  -3
  -4
  -5
  -6
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
Prev. year cash balance distribution, $m
 
  28
  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
 
  258
  237
  244
  252
  261
  270
  280
  291
  302
  313
  322
  335
  349
  364
  379
  395
  412
  430
  449
  469
  490
  513
  536
  560
  586
  613
  642
  672
  703
  736
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  241
  205
  195
  185
  174
  162
  150
  137
  124
  112
  98
  86
  75
  64
  54
  45
  37
  30
  23
  18
  14
  10
  7
  5
  4
  2
  2
  1
  1
  0
Current shareholders' claim on cash, %
  100
  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

Tupperware Brands Corporation is a global direct-to-consumer company. The Company operates through five segments in three geographic regions: Europe (Europe, Africa and the Middle East), Asia Pacific and the Americas. Its segments are Europe, Asia Pacific, Tupperware North America, Beauty North America and South America. Its Europe, Asia Pacific and Tupperware North America segments include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand. The Europe segment includes Avroy Shlain in South Africa and Nutrimetics in France, which sell beauty and personal care products. The Beauty North America segment offers cosmetics, skin care and personal care products marketed under the BeautiControl brand in the United States, Canada and Puerto Rico, and the Fuller Cosmetics brands in Mexico and Central America. The South America segment offers housewares and beauty products under the Fuller, Nutrimetics, Nuvo and Tupperware brands.

FINANCIAL RATIOS  of  Tupperware Brands (TUP)

Valuation Ratios
P/E Ratio 14.5
Price to Sales 1.5
Price to Book 15.2
Price to Tangible Book
Price to Cash Flow 13.6
Price to Free Cash Flow 18.4
Growth Rates
Sales Growth Rate -3.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1.6%
Cap. Spend. - 3 Yr. Gr. Rate -2.1%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 284.5%
Total Debt to Equity 334.3%
Interest Coverage 7
Management Effectiveness
Return On Assets 16.3%
Ret/ On Assets - 3 Yr. Avg. 14.3%
Return On Total Capital 24.1%
Ret/ On T. Cap. - 3 Yr. Avg. 21.1%
Return On Equity 119.8%
Return On Equity - 3 Yr. Avg. 108.2%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 67.7%
Gross Margin - 3 Yr. Avg. 67.1%
EBITDA Margin 18.3%
EBITDA Margin - 3 Yr. Avg. 16.7%
Operating Margin 15.7%
Oper. Margin - 3 Yr. Avg. 14.5%
Pre-Tax Margin 13.6%
Pre-Tax Margin - 3 Yr. Avg. 12.1%
Net Profit Margin 10.1%
Net Profit Margin - 3 Yr. Avg. 8.8%
Effective Tax Rate 25.6%
Eff/ Tax Rate - 3 Yr. Avg. 27.4%
Payout Ratio 62.1%

TUP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TUP stock intrinsic value calculation we used $2213 million for the last fiscal year's total revenue generated by Tupperware Brands. The default revenue input number comes from 2016 income statement of Tupperware Brands. 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 TUP stock valuation model: a) initial revenue growth rate of 2% 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 7%, whose default value for TUP is calculated based on our internal credit rating of Tupperware Brands, 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 Tupperware Brands.
    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 TUP stock the variable cost ratio is equal to 86.2%.

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 TUP 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 6.3% for Tupperware Brands.

Corporate tax rate of 27% is the nominal tax rate for Tupperware Brands. 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 TUP 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 TUP are equal to 15%.

Life of production assets of 8.1 years is the average useful life of capital assets used in Tupperware Brands 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 TUP is equal to -1.4%. 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 - $213 million for Tupperware Brands - 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 50.955 million for Tupperware Brands 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 Tupperware Brands at the current share price and the inputted number of shares is $3.3 billion.

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COMPANY NEWS

▶ Tupperware Brands CEO: Why we spend our money on R&D   [Dec-04-17 06:49AM  CNBC Videos]
▶ [$$] Meditation Brings Calm to CEOs   [Nov-30-17 12:33AM  The Wall Street Journal]
▶ [$$] Meditation Brings Calm to CEOs   [Nov-29-17 05:27PM  The Wall Street Journal]
▶ Tupperware beats 3Q profit forecasts   [Oct-25-17 07:23AM  Associated Press]
▶ Tupperware Brands Corporation Announces Upcoming Webcast   [Aug-10-17 10:30AM  PR Newswire]
▶ Tupperware reports 2Q loss   [Jul-26-17 09:36PM  Associated Press]
▶ On the market: 81 acres near Tupperware HQ in Kissimmee   [03:05PM  American City Business Journals]
▶ Top Ranked Income Stocks to Buy for June 23rd   [Jun-23-17 11:52AM  Zacks]
▶ Top Ranked Income Stocks to Buy for June 19th   [Jun-19-17 10:31AM  Zacks]
▶ Tupperware Brands Corporation Announces Upcoming Webcast   [Jun-09-17 02:00PM  PR Newswire]
▶ Why Tupperware Brands Corp. Rose 14.5% in April   [May-12-17 01:49PM  Motley Fool]
▶ This Week's Top Growth & Income Stocks   [May-10-17 04:25PM  Zacks]
▶ Chicago Tupperware pioneer passes away   [12:15PM  American City Business Journals]
▶ Why Shares of Tupperware Brands Corporation Surged   [Apr-25-17 06:56PM  Motley Fool]
▶ Tupperware tops Street 1Q forecasts   [07:18AM  Associated Press]
▶ 3 Dividend Stocks That Investors Should Love   [Apr-23-17 03:02PM  Motley Fool]
▶ Top Ranked Growth Stocks to Buy for April 17th   [Apr-17-17 10:46AM  Zacks]
▶ The 3 Best Dividend Stocks for Beginning Investors   [Apr-08-17 08:09AM  Motley Fool]
▶ There's More Than Meets the Eye to Tupperware Brands   [Mar-20-17 09:04AM  Motley Fool]
▶ Here's How to Find the Best Dividend Stocks   [Mar-17-17 08:46AM  Motley Fool]
▶ Here's How to Find the Best Dividend Stocks   [08:46AM  at Motley Fool]
▶ 3 Stocks to Buy With Dividends Yielding 4% or More   [Feb-22-17 08:26PM  at Motley Fool]
▶ 3 Dividend Stocks That Prove Boring Is Beautiful   [Feb-16-17 03:57PM  at Motley Fool]
▶ Tupperware Brands Corporation Announces Upcoming Webcast   [Feb-09-17 11:45AM  PR Newswire]
▶ [$$] Corporate America fails to add gas to Trump rally   [Feb-07-17 10:40AM  at Financial Times]
Financial statements of TUP
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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