Intrinsic value of Westlake Chemical - WLK

Previous Close

$67.36

  Intrinsic Value

$125.43

stock screener

  Rating & Target

str. buy

+86%

Previous close

$67.36

 
Intrinsic value

$125.43

 
Up/down potential

+86%

 
Rating

str. buy

We calculate the intrinsic value of WLK 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 8.7

 

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, %
  12.90
  12.11
  11.40
  10.76
  10.18
  9.66
  9.20
  8.78
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
Revenue, $m
  9,078
  10,178
  11,338
  12,558
  13,836
  15,174
  16,569
  18,024
  19,538
  21,113
  22,750
  24,452
  26,220
  28,057
  29,967
  31,953
  34,019
  36,168
  38,405
  40,735
  43,163
  45,694
  48,335
  51,090
  53,966
  56,971
  60,110
  63,391
  66,823
  70,413
Variable operating expenses, $m
  7,058
  7,891
  8,770
  9,694
  10,663
  11,677
  12,734
  13,837
  14,984
  16,177
  17,239
  18,528
  19,868
  21,261
  22,708
  24,213
  25,778
  27,406
  29,101
  30,867
  32,707
  34,625
  36,626
  38,713
  40,893
  43,169
  45,548
  48,035
  50,635
  53,355
Fixed operating expenses, $m
  559
  571
  584
  597
  610
  623
  637
  651
  665
  680
  695
  710
  726
  742
  758
  775
  792
  809
  827
  845
  864
  883
  902
  922
  942
  963
  984
  1,006
  1,028
  1,051
Total operating expenses, $m
  7,617
  8,462
  9,354
  10,291
  11,273
  12,300
  13,371
  14,488
  15,649
  16,857
  17,934
  19,238
  20,594
  22,003
  23,466
  24,988
  26,570
  28,215
  29,928
  31,712
  33,571
  35,508
  37,528
  39,635
  41,835
  44,132
  46,532
  49,041
  51,663
  54,406
Operating income, $m
  1,461
  1,715
  1,984
  2,266
  2,563
  2,874
  3,198
  3,536
  3,889
  4,256
  4,816
  5,213
  5,626
  6,055
  6,501
  6,966
  7,449
  7,952
  8,476
  9,023
  9,592
  10,186
  10,807
  11,454
  12,131
  12,838
  13,577
  14,350
  15,160
  16,007
EBITDA, $m
  2,246
  2,573
  2,919
  3,283
  3,665
  4,064
  4,482
  4,917
  5,371
  5,843
  6,334
  6,844
  7,375
  7,926
  8,500
  9,097
  9,718
  10,364
  11,038
  11,739
  12,471
  13,234
  14,030
  14,861
  15,730
  16,637
  17,586
  18,578
  19,616
  20,703
Interest expense (income), $m
  46
  207
  256
  307
  361
  418
  477
  539
  604
  672
  743
  816
  892
  971
  1,054
  1,139
  1,228
  1,320
  1,417
  1,517
  1,621
  1,729
  1,842
  1,960
  2,083
  2,211
  2,345
  2,485
  2,631
  2,784
  2,943
Earnings before tax, $m
  1,254
  1,460
  1,677
  1,906
  2,145
  2,396
  2,659
  2,932
  3,217
  3,513
  4,000
  4,321
  4,655
  5,002
  5,362
  5,738
  6,129
  6,536
  6,960
  7,402
  7,863
  8,344
  8,847
  9,371
  9,920
  10,493
  11,092
  11,719
  12,376
  13,063
Tax expense, $m
  339
  394
  453
  515
  579
  647
  718
  792
  869
  949
  1,080
  1,167
  1,257
  1,350
  1,448
  1,549
  1,655
  1,765
  1,879
  1,999
  2,123
  2,253
  2,389
  2,530
  2,678
  2,833
  2,995
  3,164
  3,341
  3,527
Net income, $m
  915
  1,066
  1,224
  1,391
  1,566
  1,749
  1,941
  2,140
  2,348
  2,565
  2,920
  3,154
  3,398
  3,651
  3,915
  4,189
  4,474
  4,771
  5,081
  5,403
  5,740
  6,091
  6,458
  6,841
  7,241
  7,660
  8,097
  8,555
  9,034
  9,536

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
  13,331
  14,945
  16,649
  18,440
  20,318
  22,282
  24,331
  26,467
  28,690
  31,003
  33,407
  35,906
  38,502
  41,200
  44,005
  46,921
  49,954
  53,110
  56,395
  59,817
  63,382
  67,099
  70,976
  75,022
  79,245
  83,657
  88,267
  93,086
  98,125
  103,396
Adjusted assets (=assets-cash), $m
  13,331
  14,945
  16,649
  18,440
  20,318
  22,282
  24,331
  26,467
  28,690
  31,003
  33,407
  35,906
  38,502
  41,200
  44,005
  46,921
  49,954
  53,110
  56,395
  59,817
  63,382
  67,099
  70,976
  75,022
  79,245
  83,657
  88,267
  93,086
  98,125
  103,396
Revenue / Adjusted assets
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
  0.681
Average production assets, $m
  8,234
  9,231
  10,283
  11,390
  12,550
  13,763
  15,028
  16,348
  17,721
  19,150
  20,634
  22,178
  23,781
  25,448
  27,180
  28,982
  30,855
  32,804
  34,833
  36,947
  39,149
  41,445
  43,839
  46,338
  48,947
  51,672
  54,520
  57,496
  60,609
  63,865
Working capital, $m
  763
  855
  952
  1,055
  1,162
  1,275
  1,392
  1,514
  1,641
  1,773
  1,911
  2,054
  2,202
  2,357
  2,517
  2,684
  2,858
  3,038
  3,226
  3,422
  3,626
  3,838
  4,060
  4,292
  4,533
  4,786
  5,049
  5,325
  5,613
  5,915
Total debt, $m
  4,734
  5,682
  6,682
  7,733
  8,836
  9,988
  11,191
  12,445
  13,750
  15,108
  16,519
  17,986
  19,510
  21,094
  22,740
  24,452
  26,232
  28,084
  30,013
  32,021
  34,114
  36,296
  38,572
  40,947
  43,426
  46,016
  48,722
  51,550
  54,508
  57,603
Total liabilities, $m
  7,825
  8,773
  9,773
  10,824
  11,927
  13,079
  14,282
  15,536
  16,841
  18,199
  19,610
  21,077
  22,601
  24,185
  25,831
  27,543
  29,323
  31,175
  33,104
  35,112
  37,205
  39,387
  41,663
  44,038
  46,517
  49,107
  51,813
  54,641
  57,599
  60,694
Total equity, $m
  5,506
  6,172
  6,876
  7,616
  8,391
  9,202
  10,049
  10,931
  11,849
  12,804
  13,797
  14,829
  15,901
  17,016
  18,174
  19,378
  20,631
  21,934
  23,291
  24,704
  26,177
  27,712
  29,313
  30,984
  32,728
  34,550
  36,454
  38,444
  40,526
  42,703
Total liabilities and equity, $m
  13,331
  14,945
  16,649
  18,440
  20,318
  22,281
  24,331
  26,467
  28,690
  31,003
  33,407
  35,906
  38,502
  41,201
  44,005
  46,921
  49,954
  53,109
  56,395
  59,816
  63,382
  67,099
  70,976
  75,022
  79,245
  83,657
  88,267
  93,085
  98,125
  103,397
Debt-to-equity ratio
  0.860
  0.920
  0.970
  1.020
  1.050
  1.090
  1.110
  1.140
  1.160
  1.180
  1.200
  1.210
  1.230
  1.240
  1.250
  1.260
  1.270
  1.280
  1.290
  1.300
  1.300
  1.310
  1.320
  1.320
  1.330
  1.330
  1.340
  1.340
  1.350
  1.350
Adjusted equity ratio
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  915
  1,066
  1,224
  1,391
  1,566
  1,749
  1,941
  2,140
  2,348
  2,565
  2,920
  3,154
  3,398
  3,651
  3,915
  4,189
  4,474
  4,771
  5,081
  5,403
  5,740
  6,091
  6,458
  6,841
  7,241
  7,660
  8,097
  8,555
  9,034
  9,536
Depreciation, amort., depletion, $m
  784
  858
  935
  1,016
  1,102
  1,191
  1,284
  1,381
  1,482
  1,587
  1,517
  1,631
  1,749
  1,871
  1,999
  2,131
  2,269
  2,412
  2,561
  2,717
  2,879
  3,047
  3,223
  3,407
  3,599
  3,799
  4,009
  4,228
  4,457
  4,696
Funds from operations, $m
  1,700
  1,923
  2,159
  2,407
  2,668
  2,940
  3,225
  3,521
  3,830
  4,152
  4,438
  4,785
  5,147
  5,522
  5,913
  6,320
  6,743
  7,183
  7,642
  8,120
  8,619
  9,139
  9,682
  10,248
  10,840
  11,459
  12,106
  12,783
  13,491
  14,232
Change in working capital, $m
  87
  92
  97
  102
  107
  112
  117
  122
  127
  132
  138
  143
  149
  154
  160
  167
  173
  181
  188
  196
  204
  213
  222
  231
  242
  252
  264
  276
  288
  302
Cash from operations, $m
  1,613
  1,831
  2,062
  2,305
  2,560
  2,828
  3,108
  3,399
  3,703
  4,019
  4,300
  4,642
  4,998
  5,368
  5,753
  6,153
  6,569
  7,003
  7,454
  7,924
  8,415
  8,926
  9,460
  10,017
  10,599
  11,207
  11,842
  12,507
  13,203
  13,931
Maintenance CAPEX, $m
  -537
  -605
  -679
  -756
  -837
  -923
  -1,012
  -1,105
  -1,202
  -1,303
  -1,408
  -1,517
  -1,631
  -1,749
  -1,871
  -1,999
  -2,131
  -2,269
  -2,412
  -2,561
  -2,717
  -2,879
  -3,047
  -3,223
  -3,407
  -3,599
  -3,799
  -4,009
  -4,228
  -4,457
New CAPEX, $m
  -937
  -997
  -1,052
  -1,106
  -1,160
  -1,213
  -1,266
  -1,319
  -1,373
  -1,428
  -1,485
  -1,543
  -1,604
  -1,667
  -1,732
  -1,801
  -1,873
  -1,949
  -2,029
  -2,113
  -2,202
  -2,296
  -2,395
  -2,499
  -2,609
  -2,725
  -2,847
  -2,976
  -3,113
  -3,256
Cash from investing activities, $m
  -1,474
  -1,602
  -1,731
  -1,862
  -1,997
  -2,136
  -2,278
  -2,424
  -2,575
  -2,731
  -2,893
  -3,060
  -3,235
  -3,416
  -3,603
  -3,800
  -4,004
  -4,218
  -4,441
  -4,674
  -4,919
  -5,175
  -5,442
  -5,722
  -6,016
  -6,324
  -6,646
  -6,985
  -7,341
  -7,713
Free cash flow, $m
  139
  228
  331
  442
  563
  692
  830
  975
  1,128
  1,288
  1,407
  1,582
  1,764
  1,953
  2,149
  2,353
  2,565
  2,785
  3,013
  3,250
  3,496
  3,752
  4,018
  4,294
  4,583
  4,883
  5,196
  5,522
  5,862
  6,218
Issuance/(repayment) of debt, $m
  897
  948
  1,000
  1,051
  1,102
  1,153
  1,203
  1,254
  1,305
  1,358
  1,411
  1,467
  1,524
  1,584
  1,646
  1,712
  1,780
  1,852
  1,928
  2,008
  2,093
  2,182
  2,276
  2,375
  2,479
  2,590
  2,706
  2,829
  2,958
  3,094
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  
  897
  948
  1,000
  1,051
  1,102
  1,153
  1,203
  1,254
  1,305
  1,358
  1,411
  1,467
  1,524
  1,584
  1,646
  1,712
  1,780
  1,852
  1,928
  2,008
  2,093
  2,182
  2,276
  2,375
  2,479
  2,590
  2,706
  2,829
  2,958
  3,094
Total cash flow (excl. dividends), $m
  1,036
  1,176
  1,331
  1,494
  1,665
  1,845
  2,033
  2,229
  2,433
  2,645
  2,818
  3,048
  3,288
  3,537
  3,795
  4,065
  4,345
  4,637
  4,941
  5,258
  5,589
  5,934
  6,293
  6,669
  7,062
  7,472
  7,902
  8,351
  8,820
  9,312
Retained Cash Flow (-), $m
  -632
  -667
  -704
  -740
  -776
  -811
  -846
  -882
  -918
  -955
  -993
  -1,032
  -1,072
  -1,114
  -1,158
  -1,204
  -1,253
  -1,303
  -1,357
  -1,413
  -1,472
  -1,535
  -1,601
  -1,671
  -1,744
  -1,822
  -1,904
  -1,990
  -2,081
  -2,177
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
  404
  509
  627
  754
  890
  1,034
  1,186
  1,346
  1,515
  1,690
  1,825
  2,016
  2,215
  2,422
  2,637
  2,861
  3,093
  3,334
  3,584
  3,845
  4,116
  4,398
  4,692
  4,998
  5,318
  5,650
  5,998
  6,360
  6,739
  7,135
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
  388
  466
  546
  621
  690
  750
  801
  842
  870
  886
  867
  860
  842
  813
  774
  727
  673
  614
  552
  489
  426
  365
  308
  255
  207
  165
  129
  98
  74
  54
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

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company's products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods. Its segments include Olefins and Vinyls. It manufactures ethylene (through Westlake Chemical OpCo LP (OpCo)), polyethylene, styrene and associated co-products at its manufacturing facility in Lake Charles and polyethylene at its Longview facility. The Company's products in its Vinyls segment include polyvinyl chloride (PVC), vinyl chloride monomer (VCM), ethylene dichloride (EDC), chlor-alkali (chlorine and caustic soda) and chlorinated derivative products and, through OpCo, ethylene. It also manufactures and sells building products fabricated from PVC.

FINANCIAL RATIOS  of  Westlake Chemical (WLK)

Valuation Ratios
P/E Ratio 21.8
Price to Sales 1.7
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 10.4
Price to Free Cash Flow 42.2
Growth Rates
Sales Growth Rate 13.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 27.9%
Cap. Spend. - 3 Yr. Gr. Rate -1.5%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 104.4%
Total Debt to Equity 108.7%
Interest Coverage 13
Management Effectiveness
Return On Assets 5.3%
Ret/ On Assets - 3 Yr. Avg. 10.9%
Return On Total Capital 7%
Ret/ On T. Cap. - 3 Yr. Avg. 14.5%
Return On Equity 11.8%
Return On Equity - 3 Yr. Avg. 19.4%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 19.3%
Gross Margin - 3 Yr. Avg. 25.2%
EBITDA Margin 19.3%
EBITDA Margin - 3 Yr. Avg. 25.7%
Operating Margin 11.2%
Oper. Margin - 3 Yr. Avg. 19.5%
Pre-Tax Margin 11%
Pre-Tax Margin - 3 Yr. Avg. 19%
Net Profit Margin 7.9%
Net Profit Margin - 3 Yr. Avg. 12.6%
Effective Tax Rate 24.7%
Eff/ Tax Rate - 3 Yr. Avg. 30.8%
Payout Ratio 24.3%

WLK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the WLK stock intrinsic value calculation we used $8041 million for the last fiscal year's total revenue generated by Westlake Chemical. The default revenue input number comes from 0001 income statement of Westlake Chemical. 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 WLK stock valuation model: a) initial revenue growth rate of 12.9% 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 WLK is calculated based on our internal credit rating of Westlake Chemical, 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 Westlake Chemical.
    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 WLK stock the variable cost ratio is equal to 78%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $547 million in the base year in the intrinsic value calculation for WLK 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 Westlake Chemical.

Corporate tax rate of 27% is the nominal tax rate for Westlake Chemical. 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 WLK 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 WLK are equal to 90.7%.

Life of production assets of 13.6 years is the average useful life of capital assets used in Westlake Chemical 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 WLK is equal to 8.4%. 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 - $4874 million for Westlake Chemical - 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 129.657 million for Westlake Chemical 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 Westlake Chemical at the current share price and the inputted number of shares is $8.7 billion.

RELATED COMPANIES Price Int.Val. Rating
EMN Eastman Chemic 72.53 133.47  buy
LYB LyondellBasell 85.44 371.08  str.buy
HUN Huntsman 19.30 115.42  str.buy
BAK Braskem ADR 25.37 2,607.54  str.buy
OLN Olin 20.96 52.78  str.buy
PSX Phillips 66 89.25 241.16  str.buy
OXY Occidental Pet 65.41 53.11  sell

COMPANY NEWS

▶ Westlake Chemical Corporation Declares Quarterly Dividend   [Nov-16-18 04:30PM  Business Wire]
▶ Westlake Chemical Partners: 3Q Earnings Snapshot   [06:53AM  Associated Press]
▶ Westlake: 3Q Earnings Snapshot   [06:51AM  Associated Press]
▶ 5 Undervalued Companies With Predictable Businesses   [Oct-22-18 05:26PM  GuruFocus.com]
▶ Houston Exponential raises $25M fund of funds to bolster city's tech scene   [Oct-12-18 07:10AM  American City Business Journals]
▶ Westlake Chemical plans to buy global PVC company for $265M   [12:35PM  American City Business Journals]
▶ Westlake Chemical Appoints New Director to Its Board   [Aug-17-18 05:05PM  Business Wire]
▶ New Strong Sell Stocks for August 13th   [Aug-13-18 08:55AM  Zacks]
▶ Westlake Chemical Partners: 2Q Earnings Snapshot   [09:38AM  Associated Press]
▶ Westlake: 2Q Earnings Snapshot   [06:51AM  Associated Press]
▶ Westlake Chemical Concludes Revolving Credit Agreement   [Jul-24-18 04:30PM  Business Wire]
▶ Buy These 5 Low Leverage Stocks on Chances of Rate Hike   [Jul-06-18 12:40PM  InvestorPlace]
▶ Cheap Dividend Paying Stock In June   [Jun-25-18 04:05PM  Simply Wall St.]
▶ Valero Energy And Other Great Cheap Stocks   [Jun-14-18 10:02AM  Simply Wall St.]
▶ Cheap Materials Stocks To Watch Out For In June   [Jun-10-18 02:02PM  Simply Wall St.]
▶ Market Getting Extended? Here's How To Lock In Profits With Swing Trading   [Jun-08-18 03:24PM  Investor's Business Daily]

CONTACT US       ASSET ALLOCATION

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

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