Intrinsic value of Viacom Cl B - VIAB

Previous Close

$27.49

  Intrinsic Value

$57.25

stock screener

  Rating & Target

str. buy

+108%

Previous close

$27.49

 
Intrinsic value

$57.25

 
Up/down potential

+108%

 
Rating

str. buy

We calculate the intrinsic value of VIAB 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 2017), $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 11.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.20
  6.08
  5.97
  5.87
  5.79
  5.71
  5.64
  5.57
  5.52
  5.46
  5.42
  5.38
  5.34
  5.31
  5.27
  5.25
  5.22
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
Revenue, $m
  14,085
  14,942
  15,834
  16,764
  17,734
  18,747
  19,804
  20,908
  22,061
  23,267
  24,527
  25,846
  27,226
  28,670
  30,182
  31,766
  33,425
  35,163
  36,985
  38,894
  40,895
  42,994
  45,194
  47,502
  49,923
  52,462
  55,125
  57,920
  60,853
  63,930
Variable operating expenses, $m
  11,166
  11,772
  12,403
  13,062
  13,748
  14,465
  15,213
  15,994
  16,810
  17,663
  17,358
  18,291
  19,267
  20,290
  21,360
  22,480
  23,655
  24,885
  26,174
  27,525
  28,941
  30,426
  31,983
  33,617
  35,330
  37,127
  39,012
  40,989
  43,065
  45,242
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
  11,166
  11,772
  12,403
  13,062
  13,748
  14,465
  15,213
  15,994
  16,810
  17,663
  17,358
  18,291
  19,267
  20,290
  21,360
  22,480
  23,655
  24,885
  26,174
  27,525
  28,941
  30,426
  31,983
  33,617
  35,330
  37,127
  39,012
  40,989
  43,065
  45,242
Operating income, $m
  2,919
  3,170
  3,431
  3,703
  3,986
  4,282
  4,591
  4,914
  5,251
  5,603
  7,170
  7,555
  7,958
  8,381
  8,823
  9,286
  9,771
  10,279
  10,811
  11,369
  11,954
  12,568
  13,211
  13,885
  14,593
  15,335
  16,114
  16,931
  17,788
  18,687
EBITDA, $m
  5,477
  5,810
  6,156
  6,518
  6,895
  7,289
  7,700
  8,129
  8,578
  9,046
  9,536
  10,049
  10,586
  11,147
  11,735
  12,351
  12,996
  13,672
  14,380
  15,122
  15,901
  16,716
  17,572
  18,469
  19,410
  20,398
  21,433
  22,520
  23,660
  24,857
Interest expense (income), $m
  635
  600
  659
  720
  784
  851
  921
  993
  1,069
  1,149
  1,231
  1,318
  1,409
  1,503
  1,603
  1,706
  1,815
  1,929
  2,048
  2,173
  2,304
  2,441
  2,585
  2,735
  2,893
  3,059
  3,233
  3,415
  3,607
  3,808
  4,018
Earnings before tax, $m
  2,319
  2,511
  2,711
  2,918
  3,135
  3,361
  3,598
  3,844
  4,102
  4,372
  5,852
  6,146
  6,455
  6,778
  7,116
  7,471
  7,842
  8,231
  8,638
  9,066
  9,513
  9,983
  10,476
  10,992
  11,534
  12,102
  12,698
  13,324
  13,980
  14,669
Tax expense, $m
  626
  678
  732
  788
  847
  908
  971
  1,038
  1,108
  1,180
  1,580
  1,660
  1,743
  1,830
  1,921
  2,017
  2,117
  2,222
  2,332
  2,448
  2,569
  2,695
  2,828
  2,968
  3,114
  3,268
  3,429
  3,597
  3,775
  3,961
Net income, $m
  1,693
  1,833
  1,979
  2,130
  2,289
  2,454
  2,626
  2,806
  2,995
  3,191
  4,272
  4,487
  4,712
  4,948
  5,195
  5,454
  5,725
  6,008
  6,306
  6,618
  6,945
  7,288
  7,647
  8,024
  8,420
  8,835
  9,270
  9,726
  10,206
  10,708

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
  25,152
  26,682
  28,275
  29,936
  31,669
  33,476
  35,364
  37,335
  39,395
  41,547
  43,799
  46,153
  48,618
  51,197
  53,897
  56,725
  59,688
  62,791
  66,044
  69,453
  73,027
  76,775
  80,704
  84,825
  89,147
  93,682
  98,438
  103,429
  108,665
  114,160
Adjusted assets (=assets-cash), $m
  25,152
  26,682
  28,275
  29,936
  31,669
  33,476
  35,364
  37,335
  39,395
  41,547
  43,799
  46,153
  48,618
  51,197
  53,897
  56,725
  59,688
  62,791
  66,044
  69,453
  73,027
  76,775
  80,704
  84,825
  89,147
  93,682
  98,438
  103,429
  108,665
  114,160
Revenue / Adjusted assets
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
  0.560
Average production assets, $m
  13,592
  14,419
  15,280
  16,177
  17,114
  18,091
  19,111
  20,176
  21,289
  22,452
  23,669
  24,941
  26,273
  27,667
  29,126
  30,654
  32,255
  33,932
  35,690
  37,533
  39,464
  41,489
  43,612
  45,839
  48,175
  50,626
  53,196
  55,893
  58,723
  61,692
Working capital, $m
  4,747
  5,035
  5,336
  5,650
  5,977
  6,318
  6,674
  7,046
  7,435
  7,841
  8,266
  8,710
  9,175
  9,662
  10,171
  10,705
  11,264
  11,850
  12,464
  13,107
  13,782
  14,489
  15,230
  16,008
  16,824
  17,680
  18,577
  19,519
  20,507
  21,544
Total debt, $m
  12,194
  13,334
  14,521
  15,758
  17,049
  18,396
  19,802
  21,271
  22,805
  24,409
  26,086
  27,840
  29,676
  31,598
  33,609
  35,716
  37,923
  40,236
  42,659
  45,199
  47,861
  50,653
  53,580
  56,651
  59,871
  63,249
  66,793
  70,511
  74,412
  78,505
Total liabilities, $m
  18,738
  19,878
  21,065
  22,302
  23,593
  24,940
  26,346
  27,815
  29,349
  30,953
  32,630
  34,384
  36,220
  38,142
  40,153
  42,260
  44,467
  46,780
  49,203
  51,743
  54,405
  57,197
  60,124
  63,195
  66,415
  69,793
  73,337
  77,055
  80,956
  85,049
Total equity, $m
  6,414
  6,804
  7,210
  7,634
  8,075
  8,536
  9,018
  9,520
  10,046
  10,595
  11,169
  11,769
  12,397
  13,055
  13,744
  14,465
  15,220
  16,012
  16,841
  17,711
  18,622
  19,578
  20,580
  21,630
  22,733
  23,889
  25,102
  26,374
  27,710
  29,111
Total liabilities and equity, $m
  25,152
  26,682
  28,275
  29,936
  31,668
  33,476
  35,364
  37,335
  39,395
  41,548
  43,799
  46,153
  48,617
  51,197
  53,897
  56,725
  59,687
  62,792
  66,044
  69,454
  73,027
  76,775
  80,704
  84,825
  89,148
  93,682
  98,439
  103,429
  108,666
  114,160
Debt-to-equity ratio
  1.900
  1.960
  2.010
  2.060
  2.110
  2.150
  2.200
  2.230
  2.270
  2.300
  2.340
  2.370
  2.390
  2.420
  2.450
  2.470
  2.490
  2.510
  2.530
  2.550
  2.570
  2.590
  2.600
  2.620
  2.630
  2.650
  2.660
  2.670
  2.690
  2.700
Adjusted equity ratio
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255
  0.255

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,693
  1,833
  1,979
  2,130
  2,289
  2,454
  2,626
  2,806
  2,995
  3,191
  4,272
  4,487
  4,712
  4,948
  5,195
  5,454
  5,725
  6,008
  6,306
  6,618
  6,945
  7,288
  7,647
  8,024
  8,420
  8,835
  9,270
  9,726
  10,206
  10,708
Depreciation, amort., depletion, $m
  2,557
  2,640
  2,726
  2,816
  2,909
  3,007
  3,109
  3,215
  3,327
  3,443
  2,367
  2,494
  2,627
  2,767
  2,913
  3,065
  3,226
  3,393
  3,569
  3,753
  3,946
  4,149
  4,361
  4,584
  4,818
  5,063
  5,320
  5,589
  5,872
  6,169
Funds from operations, $m
  4,250
  4,473
  4,705
  4,946
  5,198
  5,461
  5,735
  6,022
  6,321
  6,634
  6,638
  6,981
  7,339
  7,715
  8,108
  8,519
  8,950
  9,402
  9,875
  10,371
  10,891
  11,437
  12,008
  12,608
  13,237
  13,897
  14,589
  15,316
  16,078
  16,878
Change in working capital, $m
  277
  289
  301
  313
  327
  341
  356
  372
  389
  406
  425
  444
  465
  487
  510
  534
  559
  586
  614
  643
  674
  707
  742
  778
  816
  856
  898
  942
  988
  1,037
Cash from operations, $m
  3,973
  4,184
  4,404
  4,633
  4,871
  5,120
  5,379
  5,650
  5,933
  6,228
  6,214
  6,537
  6,874
  7,228
  7,598
  7,985
  8,391
  8,816
  9,261
  9,728
  10,217
  10,729
  11,267
  11,830
  12,421
  13,041
  13,692
  14,374
  15,090
  15,841
Maintenance CAPEX, $m
  -1,280
  -1,359
  -1,442
  -1,528
  -1,618
  -1,711
  -1,809
  -1,911
  -2,018
  -2,129
  -2,245
  -2,367
  -2,494
  -2,627
  -2,767
  -2,913
  -3,065
  -3,226
  -3,393
  -3,569
  -3,753
  -3,946
  -4,149
  -4,361
  -4,584
  -4,818
  -5,063
  -5,320
  -5,589
  -5,872
New CAPEX, $m
  -791
  -826
  -861
  -898
  -936
  -977
  -1,020
  -1,065
  -1,113
  -1,163
  -1,217
  -1,273
  -1,332
  -1,394
  -1,459
  -1,528
  -1,601
  -1,677
  -1,758
  -1,842
  -1,931
  -2,025
  -2,123
  -2,227
  -2,336
  -2,450
  -2,571
  -2,697
  -2,830
  -2,969
Cash from investing activities, $m
  -2,071
  -2,185
  -2,303
  -2,426
  -2,554
  -2,688
  -2,829
  -2,976
  -3,131
  -3,292
  -3,462
  -3,640
  -3,826
  -4,021
  -4,226
  -4,441
  -4,666
  -4,903
  -5,151
  -5,411
  -5,684
  -5,971
  -6,272
  -6,588
  -6,920
  -7,268
  -7,634
  -8,017
  -8,419
  -8,841
Free cash flow, $m
  1,902
  1,999
  2,101
  2,207
  2,317
  2,431
  2,550
  2,674
  2,802
  2,936
  2,752
  2,897
  3,049
  3,207
  3,372
  3,544
  3,725
  3,913
  4,110
  4,316
  4,532
  4,758
  4,994
  5,242
  5,502
  5,774
  6,059
  6,357
  6,671
  6,999
Issuance/(repayment) of debt, $m
  1,075
  1,139
  1,187
  1,238
  1,291
  1,347
  1,406
  1,469
  1,534
  1,604
  1,677
  1,754
  1,836
  1,921
  2,012
  2,107
  2,207
  2,312
  2,423
  2,540
  2,663
  2,792
  2,927
  3,070
  3,220
  3,378
  3,544
  3,718
  3,901
  4,094
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  1,075
  1,139
  1,187
  1,238
  1,291
  1,347
  1,406
  1,469
  1,534
  1,604
  1,677
  1,754
  1,836
  1,921
  2,012
  2,107
  2,207
  2,312
  2,423
  2,540
  2,663
  2,792
  2,927
  3,070
  3,220
  3,378
  3,544
  3,718
  3,901
  4,094
Total cash flow (excl. dividends), $m
  2,977
  3,138
  3,288
  3,444
  3,608
  3,778
  3,956
  4,142
  4,336
  4,540
  4,429
  4,652
  4,884
  5,128
  5,384
  5,651
  5,932
  6,225
  6,533
  6,856
  7,195
  7,550
  7,922
  8,312
  8,722
  9,152
  9,602
  10,075
  10,572
  11,093
Retained Cash Flow (-), $m
  -379
  -390
  -406
  -424
  -442
  -461
  -481
  -503
  -525
  -549
  -574
  -600
  -628
  -658
  -689
  -721
  -755
  -791
  -829
  -869
  -911
  -956
  -1,002
  -1,051
  -1,102
  -1,156
  -1,213
  -1,273
  -1,335
  -1,401
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
  66
  70
  75
  79
  84
  89
  94
  99
  105
  110
  116
  123
  129
  136
  143
  151
  159
  167
  176
  185
  194
  204
  215
  226
  238
  250
  262
  276
  290
  304
Cash available for distribution, $m
  2,599
  2,748
  2,882
  3,021
  3,166
  3,317
  3,475
  3,639
  3,811
  3,991
  3,855
  4,051
  4,256
  4,471
  4,695
  4,930
  5,176
  5,434
  5,704
  5,987
  6,283
  6,594
  6,920
  7,261
  7,620
  7,995
  8,389
  8,803
  9,236
  9,692
Discount rate, %
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
  2,393
  2,312
  2,196
  2,067
  1,926
  1,776
  1,619
  1,459
  1,299
  1,141
  911
  781
  658
  545
  444
  355
  278
  213
  160
  117
  84
  58
  40
  26
  17
  10
  6
  4
  2
  1
Current shareholders' claim on cash, %
  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

Viacom Inc. offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries. The Company operates through two segments: Media Networks and Filmed Entertainment. The Media Networks segment creates, acquires and distributes programming and other content for audiences The Media Networks segment provides entertainment content and related branded products for advertisers, content distributors and retailers. The Filmed Entertainment segment produces, finances, acquires and distributes motion pictures, television programming and other entertainment content under the Paramount Pictures, Paramount Vantage, Paramount Classics, Paramount Animation, Insurge Pictures, Nickelodeon Movies, MTV Films and Paramount Television brands.

FINANCIAL RATIOS  of  Viacom Cl B (VIAB)

Valuation Ratios
P/E Ratio 5.9
Price to Sales 0.8
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 6.6
Price to Free Cash Flow 7.5
Growth Rates
Sales Growth Rate 6.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 13.4%
Cap. Spend. - 3 Yr. Gr. Rate 9.7%
Financial Strength
Quick Ratio 73
Current Ratio 0
LT Debt to Equity 183.9%
Total Debt to Equity 184.2%
Interest Coverage 4
Management Effectiveness
Return On Assets 10.5%
Ret/ On Assets - 3 Yr. Avg. 9.9%
Return On Total Capital 11.2%
Ret/ On T. Cap. - 3 Yr. Avg. 10.7%
Return On Equity 36.3%
Return On Equity - 3 Yr. Avg. 42%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 43.9%
Gross Margin - 3 Yr. Avg. 46.2%
EBITDA Margin 23.1%
EBITDA Margin - 3 Yr. Avg. 23.7%
Operating Margin 20.9%
Oper. Margin - 3 Yr. Avg. 21.5%
Pre-Tax Margin 16.7%
Pre-Tax Margin - 3 Yr. Avg. 17.2%
Net Profit Margin 14.1%
Net Profit Margin - 3 Yr. Avg. 13.4%
Effective Tax Rate 13.2%
Eff/ Tax Rate - 3 Yr. Avg. 19.8%
Payout Ratio 17%

VIAB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VIAB stock intrinsic value calculation we used $13263 million for the last fiscal year's total revenue generated by Viacom Cl B. The default revenue input number comes from 2017 income statement of Viacom Cl B. 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 VIAB stock valuation model: a) initial revenue growth rate of 6.2% 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 8.6%, whose default value for VIAB is calculated based on our internal credit rating of Viacom Cl B, 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 Viacom Cl B.
    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 VIAB stock the variable cost ratio is equal to 79.8%.

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 VIAB 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 Viacom Cl B.

Corporate tax rate of 27% is the nominal tax rate for Viacom Cl B. 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 VIAB stock is equal to 0.5%.

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 VIAB are equal to 96.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Viacom Cl B 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 VIAB is equal to 33.7%. 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 - $6035 million for Viacom Cl B - 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 400 million for Viacom Cl B 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 Viacom Cl B at the current share price and the inputted number of shares is $11.0 billion.

RELATED COMPANIES Price Int.Val. Rating
TWX Time Warner 98.77 106.74  hold
CBS CBS Cl B 57.23 38.14  sell
CMCSA Comcast Cl A 34.30 45.20  buy
DISCA Discovery Seri 26.58 37.31  str.buy
NFLX Netflix 361.05 206.73  sell
DIS Walt Disney 111.48 112.76  hold
AMZN Amazon.com 1,813.70 1,290.53  hold

COMPANY NEWS

▶ Paramount Television President Amy Powell fired   [Jul-20-18 11:28AM  American City Business Journals]
▶ Paramount TV ousts president Amy Powell over inappropriate comments   [11:16AM  American City Business Journals]
▶ [$$] Paramount Fires President of TV Unit Over Remarks   [Jul-19-18 11:28PM  The Wall Street Journal]
▶ [$$] Paramount Fires President of TV Unit   [10:49PM  The Wall Street Journal]
▶ It was time for Viacom to invest in pocket.watch   [08:01AM  American City Business Journals]
▶ [$$] PocketWatch Raises $15 Million to Entertain Kids   [07:30AM  The Wall Street Journal]
▶ MTV Announces 2018 VMAs Nominations   [Jul-16-18 03:02PM  Business Wire]
▶ 'Hotel Transylvania 3' tops charts, 'Skyscraper' stumbles   [Jul-15-18 04:34PM  Associated Press]
▶ Why Sinclair Broadcast Group Stock Gained 17.3% in June   [Jul-13-18 05:20PM  Motley Fool]
▶ Philo adds $40 million for live-TV skinny bundle   [Jul-10-18 02:43PM  American City Business Journals]
▶ 'Jurassic World 2' takes No. 1 again   [Jul-01-18 02:12PM  Associated Press]
▶ Why World Cup ratings were down big in the first round   [Jun-29-18 01:18PM  Yahoo Finance Video]
▶ CBS & Viacom: Buy One, Sell the Other   [Jun-28-18 02:57PM  Barrons.com]
▶ Roku Launches a New Marketplace for TV Ad Inventory   [Jun-27-18 07:48PM  The Wall Street Journal]
▶ Roku Launches a New Marketplace for TV Ad Inventory   [09:00AM  The Wall Street Journal]
▶ Daria, My Super Sweet 16 coming to Hulu under Viacom deal   [05:30PM  American City Business Journals]
▶ [$$] AT&T Expressed Interest in CBS Before Time Warner   [07:24AM  The Wall Street Journal]
▶ Viacom Entered Into Netflix Partnership Because It Had to   [Jun-22-18 04:53PM  InvestorPlace]
▶ [$$] Shari Redstone's Path to Power   [05:52AM  The Wall Street Journal]
▶ MTV launches studio to reboot Daria, Real World for not MTV   [Jun-21-18 05:30PM  American City Business Journals]
▶ Viacom Courts The Youth Vote With VidCon, WHOSAY   [Jun-20-18 05:01PM  Forbes]
▶ 'Incredibles 2' crushes animation record with $180 million   [Jun-18-18 11:38AM  Associated Press]
▶ [$$] Why Media Deal Making Could Free CBS From Viacom   [Jun-17-18 07:42PM  The Wall Street Journal]
▶ [$$] Why Media Deal Making Could Free CBS From Viacom   [Jun-16-18 10:00AM  The Wall Street Journal]
▶ [$$] Broadways moneymakers upstaged at Tonys   [05:47AM  Financial Times]
▶ Viacom to launch Paramount Network in UK   [10:37AM  MarketWatch]
▶ Amazon unveils its new Fire TV Cube   [Jun-07-18 01:20PM  Yahoo Finance Video]
▶ [$$] Cyma Zarghami Steps Down From Nickelodeon   [Jun-04-18 07:45PM  The Wall Street Journal]
▶ Nickelodeon president resigns after 30 years with network   [05:17PM  American City Business Journals]
▶ [$$] Cyma Zarghami Steps Down From Nickelodeon   [03:57PM  The Wall Street Journal]
▶ 'Solo: A Star Wars Story' falls 65 percent in second weekend   [Jun-03-18 01:58PM  Associated Press]
▶ Paramount scraps airing 'Heathers,' citing school violence   [Jun-02-18 05:45PM  Associated Press]
▶ Philo adds Tastemade, PeopleTV, Cheddar to skinny bundle   [01:15PM  American City Business Journals]
▶ Tom Cruise offers sneak peek of Top Gun sequel   [01:03PM  Yahoo Finance Video]
▶ [$$] The Real End Game for CBS-Viacom   [May-30-18 08:39PM  The Wall Street Journal]
▶ [$$] The Real End Game for CBS-Viacom   [05:30AM  The Wall Street Journal]
▶ Shari Redstone files 66-page complaint against CBS   [01:14PM  American City Business Journals]
▶ [$$] Once Allies, Two Media Chiefs Go to War Over the Future of CBS   [May-28-18 02:40PM  The Wall Street Journal]
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

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

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