Intrinsic value of Univar - UNVR

Previous Close

$23.10

  Intrinsic Value

$11.81

stock screener

  Rating & Target

sell

-49%

Previous close

$23.10

 
Intrinsic value

$11.81

 
Up/down potential

-49%

 
Rating

sell

We calculate the intrinsic value of UNVR 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 3.3

 

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, %
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
Revenue, $m
  8,716
  9,199
  9,703
  10,231
  10,783
  11,360
  11,964
  12,597
  13,259
  13,953
  14,680
  15,442
  16,240
  17,077
  17,954
  18,874
  19,838
  20,850
  21,912
  23,025
  24,193
  25,418
  26,704
  28,054
  29,470
  30,956
  32,516
  34,153
  35,871
  37,675
Variable operating expenses, $m
  8,608
  9,073
  9,560
  10,068
  10,600
  11,156
  11,738
  12,348
  12,986
  13,654
  14,144
  14,878
  15,647
  16,453
  17,298
  18,185
  19,114
  20,089
  21,111
  22,184
  23,309
  24,490
  25,729
  27,029
  28,394
  29,826
  31,329
  32,906
  34,562
  36,299
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
  8,608
  9,073
  9,560
  10,068
  10,600
  11,156
  11,738
  12,348
  12,986
  13,654
  14,144
  14,878
  15,647
  16,453
  17,298
  18,185
  19,114
  20,089
  21,111
  22,184
  23,309
  24,490
  25,729
  27,029
  28,394
  29,826
  31,329
  32,906
  34,562
  36,299
Operating income, $m
  108
  125
  144
  163
  183
  204
  226
  249
  274
  299
  536
  564
  593
  624
  656
  689
  724
  761
  800
  841
  883
  928
  975
  1,024
  1,076
  1,130
  1,187
  1,247
  1,310
  1,376
EBITDA, $m
  459
  484
  510
  538
  567
  598
  629
  663
  698
  734
  772
  812
  854
  898
  944
  993
  1,044
  1,097
  1,153
  1,211
  1,273
  1,337
  1,405
  1,476
  1,550
  1,629
  1,711
  1,797
  1,887
  1,982
Interest expense (income), $m
  149
  156
  170
  185
  200
  216
  233
  251
  269
  288
  308
  329
  352
  375
  399
  424
  451
  479
  508
  539
  571
  605
  641
  678
  717
  758
  801
  846
  893
  943
  995
Earnings before tax, $m
  -49
  -45
  -41
  -37
  -33
  -29
  -24
  -20
  -15
  -9
  207
  212
  218
  225
  231
  238
  245
  253
  261
  270
  278
  288
  297
  308
  318
  330
  341
  354
  367
  381
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  56
  57
  59
  61
  62
  64
  66
  68
  71
  73
  75
  78
  80
  83
  86
  89
  92
  96
  99
  103
Net income, $m
  -49
  -45
  -41
  -37
  -33
  -29
  -24
  -20
  -15
  -9
  151
  155
  159
  164
  169
  174
  179
  185
  191
  197
  203
  210
  217
  225
  232
  241
  249
  258
  268
  278

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
  6,053
  6,388
  6,738
  7,105
  7,488
  7,889
  8,309
  8,748
  9,208
  9,690
  10,194
  10,723
  11,278
  11,859
  12,468
  13,107
  13,777
  14,479
  15,216
  15,990
  16,801
  17,652
  18,545
  19,482
  20,465
  21,497
  22,581
  23,717
  24,911
  26,163
Adjusted assets (=assets-cash), $m
  6,053
  6,388
  6,738
  7,105
  7,488
  7,889
  8,309
  8,748
  9,208
  9,690
  10,194
  10,723
  11,278
  11,859
  12,468
  13,107
  13,777
  14,479
  15,216
  15,990
  16,801
  17,652
  18,545
  19,482
  20,465
  21,497
  22,581
  23,717
  24,911
  26,163
Revenue / Adjusted assets
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
  1.440
Average production assets, $m
  2,188
  2,309
  2,436
  2,568
  2,706
  2,851
  3,003
  3,162
  3,328
  3,502
  3,685
  3,876
  4,076
  4,286
  4,506
  4,737
  4,979
  5,233
  5,500
  5,779
  6,072
  6,380
  6,703
  7,042
  7,397
  7,770
  8,162
  8,572
  9,004
  9,456
Working capital, $m
  750
  791
  834
  880
  927
  977
  1,029
  1,083
  1,140
  1,200
  1,262
  1,328
  1,397
  1,469
  1,544
  1,623
  1,706
  1,793
  1,884
  1,980
  2,081
  2,186
  2,297
  2,413
  2,534
  2,662
  2,796
  2,937
  3,085
  3,240
Total debt, $m
  3,155
  3,427
  3,711
  4,008
  4,318
  4,643
  4,983
  5,339
  5,711
  6,101
  6,510
  6,939
  7,388
  7,858
  8,352
  8,869
  9,412
  9,981
  10,578
  11,204
  11,861
  12,551
  13,274
  14,033
  14,830
  15,666
  16,543
  17,464
  18,431
  19,445
Total liabilities, $m
  4,903
  5,174
  5,458
  5,755
  6,065
  6,390
  6,730
  7,086
  7,458
  7,849
  8,258
  8,686
  9,135
  9,606
  10,099
  10,617
  11,159
  11,728
  12,325
  12,952
  13,609
  14,298
  15,021
  15,780
  16,577
  17,413
  18,290
  19,211
  20,178
  21,192
Total equity, $m
  1,150
  1,214
  1,280
  1,350
  1,423
  1,499
  1,579
  1,662
  1,750
  1,841
  1,937
  2,037
  2,143
  2,253
  2,369
  2,490
  2,618
  2,751
  2,891
  3,038
  3,192
  3,354
  3,523
  3,702
  3,888
  4,084
  4,290
  4,506
  4,733
  4,971
Total liabilities and equity, $m
  6,053
  6,388
  6,738
  7,105
  7,488
  7,889
  8,309
  8,748
  9,208
  9,690
  10,195
  10,723
  11,278
  11,859
  12,468
  13,107
  13,777
  14,479
  15,216
  15,990
  16,801
  17,652
  18,544
  19,482
  20,465
  21,497
  22,580
  23,717
  24,911
  26,163
Debt-to-equity ratio
  2.740
  2.820
  2.900
  2.970
  3.040
  3.100
  3.160
  3.210
  3.260
  3.310
  3.360
  3.410
  3.450
  3.490
  3.530
  3.560
  3.600
  3.630
  3.660
  3.690
  3.720
  3.740
  3.770
  3.790
  3.810
  3.840
  3.860
  3.880
  3.890
  3.910
Adjusted equity ratio
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190
  0.190

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -49
  -45
  -41
  -37
  -33
  -29
  -24
  -20
  -15
  -9
  151
  155
  159
  164
  169
  174
  179
  185
  191
  197
  203
  210
  217
  225
  232
  241
  249
  258
  268
  278
Depreciation, amort., depletion, $m
  351
  359
  367
  375
  384
  393
  403
  413
  424
  435
  236
  248
  261
  275
  289
  304
  319
  335
  353
  370
  389
  409
  430
  451
  474
  498
  523
  550
  577
  606
Funds from operations, $m
  302
  314
  325
  338
  351
  364
  379
  394
  409
  426
  387
  403
  421
  439
  458
  478
  498
  520
  543
  567
  593
  619
  647
  676
  707
  739
  772
  808
  845
  884
Change in working capital, $m
  40
  42
  43
  45
  47
  50
  52
  54
  57
  60
  63
  66
  69
  72
  75
  79
  83
  87
  91
  96
  100
  105
  111
  116
  122
  128
  134
  141
  148
  155
Cash from operations, $m
  262
  272
  282
  292
  303
  315
  327
  339
  352
  366
  325
  338
  352
  367
  382
  398
  415
  433
  452
  472
  492
  514
  536
  560
  585
  611
  638
  667
  697
  729
Maintenance CAPEX, $m
  -133
  -140
  -148
  -156
  -165
  -173
  -183
  -193
  -203
  -213
  -225
  -236
  -248
  -261
  -275
  -289
  -304
  -319
  -335
  -353
  -370
  -389
  -409
  -430
  -451
  -474
  -498
  -523
  -550
  -577
New CAPEX, $m
  -119
  -121
  -127
  -132
  -139
  -145
  -152
  -159
  -166
  -174
  -182
  -191
  -200
  -210
  -220
  -231
  -242
  -254
  -266
  -279
  -293
  -308
  -323
  -339
  -355
  -373
  -392
  -411
  -431
  -453
Cash from investing activities, $m
  -252
  -261
  -275
  -288
  -304
  -318
  -335
  -352
  -369
  -387
  -407
  -427
  -448
  -471
  -495
  -520
  -546
  -573
  -601
  -632
  -663
  -697
  -732
  -769
  -806
  -847
  -890
  -934
  -981
  -1,030
Free cash flow, $m
  11
  11
  7
  4
  0
  -4
  -8
  -12
  -17
  -22
  -82
  -89
  -97
  -105
  -113
  -121
  -130
  -140
  -150
  -160
  -172
  -183
  -196
  -208
  -222
  -236
  -251
  -267
  -284
  -301
Issuance/(repayment) of debt, $m
  260
  272
  284
  297
  310
  325
  340
  356
  373
  390
  409
  428
  449
  471
  493
  517
  543
  569
  597
  626
  657
  689
  723
  759
  797
  836
  877
  921
  967
  1,015
Issuance/(repurchase) of shares, $m
  109
  109
  108
  107
  106
  105
  104
  103
  102
  101
  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  
  369
  381
  392
  404
  416
  430
  444
  459
  475
  491
  409
  428
  449
  471
  493
  517
  543
  569
  597
  626
  657
  689
  723
  759
  797
  836
  877
  921
  967
  1,015
Total cash flow (excl. dividends), $m
  379
  391
  399
  408
  417
  426
  436
  447
  458
  470
  326
  339
  352
  366
  381
  396
  412
  429
  447
  466
  485
  506
  528
  551
  575
  600
  626
  654
  683
  714
Retained Cash Flow (-), $m
  -109
  -109
  -108
  -107
  -106
  -105
  -104
  -103
  -102
  -101
  -96
  -100
  -105
  -110
  -116
  -121
  -127
  -133
  -140
  -147
  -154
  -162
  -170
  -178
  -187
  -196
  -206
  -216
  -227
  -238
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
  271
  282
  291
  301
  311
  321
  332
  344
  356
  369
  231
  239
  247
  256
  265
  275
  285
  296
  307
  319
  331
  344
  358
  373
  388
  404
  420
  438
  456
  476
Discount rate, %
  9.50
  9.98
  10.47
  11.00
  11.55
  12.12
  12.73
  13.37
  14.04
  14.74
  15.47
  16.25
  17.06
  17.91
  18.81
  19.75
  20.74
  21.77
  22.86
  24.01
  25.21
  26.47
  27.79
  29.18
  30.64
  32.17
  33.78
  35.47
  37.24
  39.10
PV of cash for distribution, $m
  247
  233
  216
  198
  180
  162
  144
  126
  109
  93
  47
  39
  32
  25
  20
  15
  12
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  96.8
  93.8
  91.1
  88.6
  86.4
  84.3
  82.4
  80.6
  79.0
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5
  77.5

Univar Inc. is a distributor of commodity and specialty chemicals. The Company operates through four segments: Univar USA (USA); Univar Canada (Canada); Univar Europe and the Middle East and Africa (EMEA), and Rest of World. The Company's USA segment supplies a range of commodity and specialty chemicals, as well as services to a range of end markets, including manufacturing and industrial production sectors in the United States. In the United States, it services these multiple end markets with one-to-three day order times from nearby facilities. It repackages and blends bulk chemicals for shipment by its transportation fleet, as well as common carriers. Its Canadian operations are regionally focused, supplying a range of commodity and specialty chemicals to the local customer base. In Eastern Canada, it primarily focuses on industrial markets, such as food ingredients and products, pharmaceutical ingredients and finished products, coatings and adhesives, and chemical manufacturing.

FINANCIAL RATIOS  of  Univar (UNVR)

Valuation Ratios
P/E Ratio -47.2
Price to Sales 0.4
Price to Book 4
Price to Tangible Book
Price to Cash Flow 7.1
Price to Free Cash Flow 8.9
Growth Rates
Sales Growth Rate -10.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -37.9%
Cap. Spend. - 3 Yr. Gr. Rate -8.6%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 351.2%
Total Debt to Equity 367.8%
Interest Coverage 0
Management Effectiveness
Return On Assets 1.1%
Ret/ On Assets - 3 Yr. Avg. 1.7%
Return On Total Capital -1.8%
Ret/ On T. Cap. - 3 Yr. Avg. -0.6%
Return On Equity -8.4%
Return On Equity - 3 Yr. Avg. -3.8%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 21.4%
Gross Margin - 3 Yr. Avg. 20%
EBITDA Margin 3.8%
EBITDA Margin - 3 Yr. Avg. 4.2%
Operating Margin 1.1%
Oper. Margin - 3 Yr. Avg. 2%
Pre-Tax Margin -1%
Pre-Tax Margin - 3 Yr. Avg. -0.3%
Net Profit Margin -0.8%
Net Profit Margin - 3 Yr. Avg. -0.3%
Effective Tax Rate 15%
Eff/ Tax Rate - 3 Yr. Avg. 32.2%
Payout Ratio 0%

UNVR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the UNVR stock intrinsic value calculation we used $8253.7 million for the last fiscal year's total revenue generated by Univar. The default revenue input number comes from 0001 income statement of Univar. 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 UNVR stock valuation model: a) initial revenue growth rate of 5.6% 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 9.5%, whose default value for UNVR is calculated based on our internal credit rating of Univar, 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 Univar.
    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 UNVR stock the variable cost ratio is equal to 98.9%.

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 UNVR 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 Univar.

Corporate tax rate of 27% is the nominal tax rate for Univar. 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 UNVR 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 UNVR are equal to 25.1%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Univar 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 UNVR is equal to 8.6%. 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 - $1090.1 million for Univar - 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 141.399 million for Univar 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 Univar at the current share price and the inputted number of shares is $3.3 billion.

RELATED COMPANIES Price Int.Val. Rating
BAK Braskem ADR 27.14 2,607.54  str.buy
PPG PPG Industries 107.08 70.06  sell
ECL Ecolab 158.31 87.51  sell
VLO Valero Energy 83.27 35.62  str.sell
K Kellogg 62.52 48.05  sell
FMC FMC 82.67 356.57  str.buy

COMPANY NEWS

▶ Univar Launches New Beauty and Personal Care Website   [Nov-13-18 05:00PM  PR Newswire]
▶ Univar: 3Q Earnings Snapshot   [06:54AM  Associated Press]
▶ Univar's ChemPoint and PMC Biogenix Expand Relationship   [Oct-09-18 04:34PM  PR Newswire]
▶ Univar Releases its 2017 Sustainability Report   [Oct-02-18 06:03PM  PR Newswire]
▶ Here's Why Nexeo Solutions Jumped as Much as 16.8% Today   [Sep-18-18 02:53PM  Motley Fool]
▶ Univar to Buy Nexeo for $2 Billion   [Sep-17-18 07:36PM  TheStreet.com]
▶ Calculating The Fair Value Of Univar Inc (NYSE:UNVR)   [Sep-11-18 08:25AM  Simply Wall St.]
▶ Univar Announces the Launch of a Global Digital Hub   [Aug-09-18 04:30PM  PR Newswire]
▶ Univar: 2Q Earnings Snapshot   [06:29AM  Associated Press]
▶ Univar Closes Earthoil Acquisition   [May-31-18 04:30PM  PR Newswire]
▶ Univar: 1Q Earnings Snapshot   [06:21AM  Associated Press]
▶ Univar Appoints David Jukes as President and CEO   [May-09-18 04:30PM  PR Newswire]
▶ Univar Announces Agreement to Acquire Earthoil   [May-08-18 04:30PM  PR Newswire]
▶ Univar Opens New Technical Excellence Center in Milan   [May-07-18 04:51PM  PR Newswire]
▶ New Strong Buy Stocks for March 15th   [Mar-15-18 10:29AM  Zacks]
▶ Dow Ends Four-Day Losing Skid with 1.4% Advance   [Mar-06-18 09:15AM  Zacks]
▶ Univar posts 4Q profit   [06:35AM  Associated Press]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.