Intrinsic value of Twin Disc - TWIN

Previous Close

$18.39

  Intrinsic Value

$2.56

stock screener

  Rating & Target

str. sell

-86%

Previous close

$18.39

 
Intrinsic value

$2.56

 
Up/down potential

-86%

 
Rating

str. sell

We calculate the intrinsic value of TWIN 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 0.2

 

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, %
  44.90
  40.91
  37.32
  34.09
  31.18
  28.56
  26.20
  24.08
  22.18
  20.46
  18.91
  17.52
  16.27
  15.14
  14.13
  13.22
  12.39
  11.65
  10.99
  10.39
  9.85
  9.37
  8.93
  8.54
  8.18
  7.86
  7.58
  7.32
  7.09
  6.88
Revenue, $m
  244
  343
  472
  632
  829
  1,066
  1,346
  1,670
  2,040
  2,457
  2,922
  3,434
  3,993
  4,598
  5,247
  5,941
  6,677
  7,455
  8,274
  9,134
  10,034
  10,973
  11,953
  12,973
  14,035
  15,139
  16,286
  17,478
  18,717
  20,005
Variable operating expenses, $m
  280
  394
  541
  725
  951
  1,223
  1,543
  1,915
  2,339
  2,817
  3,350
  3,937
  4,577
  5,270
  6,015
  6,809
  7,653
  8,545
  9,484
  10,470
  11,501
  12,578
  13,701
  14,871
  16,088
  17,353
  18,668
  20,035
  21,455
  22,931
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
  280
  394
  541
  725
  951
  1,223
  1,543
  1,915
  2,339
  2,817
  3,350
  3,937
  4,577
  5,270
  6,015
  6,809
  7,653
  8,545
  9,484
  10,470
  11,501
  12,578
  13,701
  14,871
  16,088
  17,353
  18,668
  20,035
  21,455
  22,931
Operating income, $m
  -36
  -51
  -69
  -93
  -122
  -156
  -197
  -245
  -299
  -360
  -427
  -502
  -584
  -672
  -767
  -869
  -977
  -1,090
  -1,210
  -1,336
  -1,468
  -1,605
  -1,748
  -1,898
  -2,053
  -2,214
  -2,382
  -2,556
  -2,738
  -2,926
EBITDA, $m
  -26
  -37
  -50
  -68
  -89
  -114
  -144
  -178
  -218
  -263
  -312
  -367
  -427
  -491
  -561
  -635
  -714
  -797
  -884
  -976
  -1,073
  -1,173
  -1,278
  -1,387
  -1,500
  -1,618
  -1,741
  -1,868
  -2,001
  -2,138
Interest expense (income), $m
  0
  0
  2
  5
  9
  13
  19
  26
  34
  43
  53
  65
  78
  93
  108
  125
  144
  163
  184
  206
  229
  254
  279
  306
  333
  362
  392
  423
  456
  489
  524
Earnings before tax, $m
  -36
  -53
  -75
  -102
  -135
  -175
  -223
  -278
  -342
  -413
  -492
  -580
  -677
  -781
  -893
  -1,013
  -1,140
  -1,275
  -1,416
  -1,565
  -1,721
  -1,884
  -2,054
  -2,231
  -2,415
  -2,606
  -2,805
  -3,012
  -3,227
  -3,450
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
  -36
  -53
  -75
  -102
  -135
  -175
  -223
  -278
  -342
  -413
  -492
  -580
  -677
  -781
  -893
  -1,013
  -1,140
  -1,275
  -1,416
  -1,565
  -1,721
  -1,884
  -2,054
  -2,231
  -2,415
  -2,606
  -2,805
  -3,012
  -3,227
  -3,450

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
  306
  431
  592
  793
  1,041
  1,338
  1,688
  2,095
  2,560
  3,083
  3,667
  4,309
  5,010
  5,769
  6,584
  7,454
  8,377
  9,354
  10,382
  11,460
  12,589
  13,768
  14,998
  16,278
  17,610
  18,995
  20,434
  21,930
  23,484
  25,100
Adjusted assets (=assets-cash), $m
  306
  431
  592
  793
  1,041
  1,338
  1,688
  2,095
  2,560
  3,083
  3,667
  4,309
  5,010
  5,769
  6,584
  7,454
  8,377
  9,354
  10,382
  11,460
  12,589
  13,768
  14,998
  16,278
  17,610
  18,995
  20,434
  21,930
  23,484
  25,100
Revenue / Adjusted assets
  0.797
  0.796
  0.797
  0.797
  0.796
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
  0.797
Average production assets, $m
  77
  108
  149
  199
  261
  336
  424
  526
  643
  774
  921
  1,082
  1,258
  1,448
  1,653
  1,871
  2,103
  2,348
  2,606
  2,877
  3,161
  3,457
  3,765
  4,087
  4,421
  4,769
  5,130
  5,506
  5,896
  6,301
Working capital, $m
  99
  140
  192
  258
  338
  435
  549
  681
  832
  1,003
  1,192
  1,401
  1,629
  1,876
  2,141
  2,424
  2,724
  3,042
  3,376
  3,727
  4,094
  4,477
  4,877
  5,293
  5,726
  6,177
  6,645
  7,131
  7,637
  8,162
Total debt, $m
  46
  98
  165
  249
  352
  476
  622
  792
  986
  1,204
  1,447
  1,715
  2,008
  2,324
  2,664
  3,026
  3,412
  3,819
  4,247
  4,697
  5,168
  5,660
  6,172
  6,706
  7,262
  7,839
  8,439
  9,063
  9,711
  10,385
Total liabilities, $m
  128
  180
  247
  331
  434
  558
  704
  874
  1,067
  1,286
  1,529
  1,797
  2,089
  2,406
  2,745
  3,108
  3,493
  3,900
  4,329
  4,779
  5,250
  5,741
  6,254
  6,788
  7,343
  7,921
  8,521
  9,145
  9,793
  10,467
Total equity, $m
  178
  251
  345
  463
  607
  780
  984
  1,221
  1,492
  1,798
  2,138
  2,512
  2,921
  3,363
  3,838
  4,345
  4,884
  5,453
  6,052
  6,681
  7,339
  8,027
  8,744
  9,490
  10,266
  11,074
  11,913
  12,785
  13,691
  14,633
Total liabilities and equity, $m
  306
  431
  592
  794
  1,041
  1,338
  1,688
  2,095
  2,559
  3,084
  3,667
  4,309
  5,010
  5,769
  6,583
  7,453
  8,377
  9,353
  10,381
  11,460
  12,589
  13,768
  14,998
  16,278
  17,609
  18,995
  20,434
  21,930
  23,484
  25,100
Debt-to-equity ratio
  0.260
  0.390
  0.480
  0.540
  0.580
  0.610
  0.630
  0.650
  0.660
  0.670
  0.680
  0.680
  0.690
  0.690
  0.690
  0.700
  0.700
  0.700
  0.700
  0.700
  0.700
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
Adjusted equity ratio
  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
  0.583

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -36
  -53
  -75
  -102
  -135
  -175
  -223
  -278
  -342
  -413
  -492
  -580
  -677
  -781
  -893
  -1,013
  -1,140
  -1,275
  -1,416
  -1,565
  -1,721
  -1,884
  -2,054
  -2,231
  -2,415
  -2,606
  -2,805
  -3,012
  -3,227
  -3,450
Depreciation, amort., depletion, $m
  10
  14
  19
  25
  33
  42
  53
  66
  81
  97
  115
  135
  157
  181
  207
  234
  263
  294
  326
  360
  395
  432
  471
  511
  553
  596
  641
  688
  737
  788
Funds from operations, $m
  -26
  -39
  -56
  -76
  -102
  -133
  -170
  -212
  -261
  -316
  -377
  -445
  -519
  -600
  -686
  -779
  -877
  -981
  -1,091
  -1,206
  -1,326
  -1,452
  -1,583
  -1,720
  -1,862
  -2,010
  -2,164
  -2,324
  -2,490
  -2,663
Change in working capital, $m
  31
  41
  52
  66
  80
  97
  114
  132
  151
  170
  190
  209
  228
  247
  265
  283
  300
  317
  334
  351
  367
  383
  400
  416
  433
  450
  468
  486
  505
  525
Cash from operations, $m
  -57
  -80
  -108
  -142
  -183
  -230
  -284
  -344
  -412
  -486
  -567
  -654
  -747
  -847
  -951
  -1,062
  -1,178
  -1,299
  -1,425
  -1,556
  -1,693
  -1,835
  -1,983
  -2,136
  -2,296
  -2,461
  -2,632
  -2,810
  -2,996
  -3,188
Maintenance CAPEX, $m
  -7
  -10
  -14
  -19
  -25
  -33
  -42
  -53
  -66
  -80
  -97
  -115
  -135
  -157
  -181
  -207
  -234
  -263
  -294
  -326
  -360
  -395
  -432
  -471
  -511
  -553
  -596
  -641
  -688
  -737
New CAPEX, $m
  -24
  -31
  -40
  -51
  -62
  -75
  -88
  -102
  -117
  -131
  -146
  -161
  -176
  -190
  -205
  -218
  -232
  -245
  -258
  -271
  -283
  -296
  -309
  -321
  -334
  -348
  -361
  -376
  -390
  -406
Cash from investing activities, $m
  -31
  -41
  -54
  -70
  -87
  -108
  -130
  -155
  -183
  -211
  -243
  -276
  -311
  -347
  -386
  -425
  -466
  -508
  -552
  -597
  -643
  -691
  -741
  -792
  -845
  -901
  -957
  -1,017
  -1,078
  -1,143
Free cash flow, $m
  -88
  -121
  -162
  -211
  -270
  -337
  -414
  -499
  -594
  -698
  -810
  -930
  -1,059
  -1,194
  -1,337
  -1,487
  -1,643
  -1,807
  -1,976
  -2,153
  -2,336
  -2,527
  -2,724
  -2,928
  -3,141
  -3,361
  -3,590
  -3,827
  -4,074
  -4,331
Issuance/(repayment) of debt, $m
  40
  52
  67
  84
  103
  124
  146
  170
  194
  218
  243
  268
  292
  316
  340
  363
  385
  407
  429
  450
  471
  492
  513
  534
  555
  578
  600
  624
  648
  674
Issuance/(repurchase) of shares, $m
  92
  126
  168
  219
  279
  349
  427
  515
  612
  718
  832
  955
  1,085
  1,223
  1,368
  1,520
  1,679
  1,844
  2,016
  2,194
  2,379
  2,572
  2,771
  2,977
  3,192
  3,414
  3,645
  3,884
  4,133
  4,392
Cash from financing (excl. dividends), $m  
  132
  178
  235
  303
  382
  473
  573
  685
  806
  936
  1,075
  1,223
  1,377
  1,539
  1,708
  1,883
  2,064
  2,251
  2,445
  2,644
  2,850
  3,064
  3,284
  3,511
  3,747
  3,992
  4,245
  4,508
  4,781
  5,066
Total cash flow (excl. dividends), $m
  44
  57
  74
  92
  113
  136
  160
  186
  212
  239
  265
  292
  319
  345
  371
  396
  420
  444
  468
  491
  514
  537
  560
  583
  606
  630
  655
  681
  707
  735
Retained Cash Flow (-), $m
  -92
  -126
  -168
  -219
  -279
  -349
  -427
  -515
  -612
  -718
  -832
  -955
  -1,085
  -1,223
  -1,368
  -1,520
  -1,679
  -1,844
  -2,016
  -2,194
  -2,379
  -2,572
  -2,771
  -2,977
  -3,192
  -3,414
  -3,645
  -3,884
  -4,133
  -4,392
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
  -48
  -69
  -95
  -127
  -166
  -213
  -267
  -330
  -401
  -480
  -567
  -663
  -766
  -878
  -997
  -1,124
  -1,258
  -1,399
  -1,548
  -1,703
  -1,866
  -2,035
  -2,211
  -2,395
  -2,585
  -2,784
  -2,989
  -3,203
  -3,426
  -3,657
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
  -46
  -63
  -83
  -105
  -129
  -155
  -181
  -206
  -230
  -251
  -269
  -283
  -291
  -295
  -293
  -286
  -274
  -258
  -238
  -216
  -193
  -169
  -145
  -122
  -101
  -81
  -64
  -50
  -37
  -28
Current shareholders' claim on cash, %
  69.8
  49.5
  35.7
  26.1
  19.3
  14.5
  11.0
  8.5
  6.6
  5.1
  4.0
  3.2
  2.6
  2.1
  1.7
  1.4
  1.1
  0.9
  0.8
  0.6
  0.5
  0.4
  0.4
  0.3
  0.2
  0.2
  0.2
  0.1
  0.1
  0.1

Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company operates through two segments: manufacturing and distribution. Its products include marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. Its industrial products include clutches and pump drives sold to the agriculture, recycling, construction, and oil and gas markets. Its land-based transmission products include applications for oilfield and natural gas, military, and airport rescue and firefighting. Its marine and propulsion systems include marine transmission, controls, surface drives, propellers and boat management systems for the commercial, pleasure craft and patrol boat markets. Its other products include non-Company manufactured product sold through Company-owned distribution entities.

FINANCIAL RATIOS  of  Twin Disc (TWIN)

Valuation Ratios
P/E Ratio -35.3
Price to Sales 1.3
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 70.6
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate 1.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -25%
Cap. Spend. - 3 Yr. Gr. Rate -15.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 4.9%
Total Debt to Equity 4.9%
Interest Coverage 0
Management Effectiveness
Return On Assets -2.8%
Ret/ On Assets - 3 Yr. Avg. -1.3%
Return On Total Capital -4.7%
Ret/ On T. Cap. - 3 Yr. Avg. -2.4%
Return On Equity -5%
Return On Equity - 3 Yr. Avg. -2.5%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 28.6%
Gross Margin - 3 Yr. Avg. 28.2%
EBITDA Margin -1.8%
EBITDA Margin - 3 Yr. Avg. -0.4%
Operating Margin -5.4%
Oper. Margin - 3 Yr. Avg. -4.8%
Pre-Tax Margin -6%
Pre-Tax Margin - 3 Yr. Avg. -5%
Net Profit Margin -3.6%
Net Profit Margin - 3 Yr. Avg. -2.4%
Effective Tax Rate 40%
Eff/ Tax Rate - 3 Yr. Avg. 39.8%
Payout Ratio 0%

TWIN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TWIN stock intrinsic value calculation we used $168.182 million for the last fiscal year's total revenue generated by Twin Disc. The default revenue input number comes from 0001 income statement of Twin Disc. 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 TWIN stock valuation model: a) initial revenue growth rate of 44.9% 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 TWIN is calculated based on our internal credit rating of Twin Disc, 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 Twin Disc.
    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 TWIN stock the variable cost ratio is equal to 114.9%.

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 TWIN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Twin Disc.

Corporate tax rate of 27% is the nominal tax rate for Twin Disc. 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 TWIN 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 TWIN are equal to 31.5%.

Life of production assets of 8 years is the average useful life of capital assets used in Twin Disc 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 TWIN is equal to 40.8%. 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 - $122.921 million for Twin Disc - 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 11.551 million for Twin Disc 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 Twin Disc at the current share price and the inputted number of shares is $0.2 billion.

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MBUU Malibu Boats C 48.52 760.24  str.buy
MCFT MCBC Holdings 27.86 440.17  str.buy
ALSN Allison Transm 46.89 143.62  str.buy

COMPANY NEWS

▶ Twin Disc (TWIN) Tops Q1 Earnings Estimates   [Oct-29-18 09:50AM  Zacks]
▶ Twin Disc: Fiscal 1Q Earnings Snapshot   [08:45AM  Associated Press]
▶ Twin Disc (TWIN) Enters Oversold Territory   [Sep-24-18 08:35AM  Zacks]
▶ U.S. Manufacturing Logs Best Gain in 14 Years: 5 Top Picks   [Sep-05-18 11:52AM  InvestorPlace]
▶ Twin Disc: Fiscal 4Q Earnings Snapshot   [Aug-06-18 11:10AM  Associated Press]
▶ U.S. Manufacturing Gathers Steam Under Trump: 5 Top Picks   [Jun-14-18 11:20AM  InvestorPlace]
▶ Top Ranked Momentum Stocks to Buy for May 14th   [May-14-18 09:22AM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for May 10th   [May-10-18 09:41AM  Zacks]
▶ Twin Disc: Fiscal 3Q Earnings Snapshot   [08:25AM  Associated Press]
▶ Twin Disc Celebrates 100 Years of Making Horsepower Work   [Apr-26-18 07:11AM  PR Newswire]
▶ Twin Disc to Attend 50th Offshore Technology Conference   [Apr-24-18 07:01AM  PR Newswire]
▶ Twin Disc reports 2Q loss   [Feb-02-18 09:45AM  Associated Press]
▶ Twin Disc receives large order from fracking equipment maker   [Dec-21-17 12:30PM  American City Business Journals]
▶ ETFs with exposure to Twin Disc, Inc. : November 9, 2017   [Nov-09-17 01:18PM  Capital Cube]
▶ New Strong Buy Stocks for November 1st   [Nov-01-17 09:25AM  Zacks]
▶ Twin Disc posts 1Q profit   [Oct-27-17 08:06AM  Associated Press]
▶ Twin Disc (TWIN) Jumps: Stock Rises 6.9%   [Oct-17-17 08:54AM  Zacks]
▶ ETFs with exposure to Twin Disc, Inc. : October 16, 2017   [Oct-16-17 10:01AM  Capital Cube]
▶ ETFs with exposure to Twin Disc, Inc. : October 4, 2017   [Oct-04-17 11:02AM  Capital Cube]
▶ Twin Disc posts 4Q profit   [Aug-04-17 08:28PM  Associated Press]
▶ Twin Disc, Inc. Joins Russell 3000® Index   [Jun-26-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to Twin Disc, Inc. : May 15, 2017   [May-15-17 04:48PM  Capital Cube]
▶ Twin Disc reports 3Q loss   [08:18AM  Associated Press]
▶ ETFs with exposure to Twin Disc, Inc. : April 7, 2017   [Apr-07-17 05:39PM  Capital Cube]
▶ Twin Disc reports 2Q loss   [08:14AM  Associated Press]

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