Fundamental stock valuation and intrinsic stock values worldwide. Fair value calculation based on Graham & Dodd and Joel Greenblatt, analyzing long-term financial statement data.

How To Use:

1. At the beginning of this analysis you'll find basic company and stock information, followed by  fair value and margin of safety estimates.
2. In the chart section you'll find the fair value estimates visualized as a) 12-month stock chart including fair value levels, b) % Upside from last price to fair value, aka margin of safety (see Description below), followed by historical charts of a) sales and sales growth, b) valuation and operating profit margin and, c) net income, as reported. Trend lines and average lines in the charts can assist you in building your own unbiased expectation of the future.
3. Finally you'll find the historical stock price performance, the risk section and traditional valuation multiples (ttm) including the cyclically adjusted P/E.

To start your value analysis, just type in a new Company Name or ISIN and click your stock in the selection list pop-up:

DESCRIPTION:

Trend lines are determined using linear regression. Average lines are calculated on the basis of the arithmetic mean. Cyclically Adjusted PE ratio is a modification of the PE ratio to account for the effect on profits of the economic cycle.

Our Automated Valuation Model employs three distinct methods to estimate the fair value of a given stock:

1. Mean Multiple Value: fair value based on the long-term historical average stock valuation multiple, i.e., EV/Sales or P/BV for financials, respectively .
2. Graham Intrinsic Value: fair value based on capitalized long-term average earnings.
3. Greenblatt Fair Value: fair value based on capitalized sustainable trend earnings.

Upside to fair value, also known as margin of safety, is defined as the percentage difference between the fair value estimate of a stock and its last price.

Growing and declining businesses: Deviations between the Graham Intrinsic Value and the Greenblatt Fair Value arise when a given company's earnings are on a long-term upward trend, i.e. structurally grow, or when they are on a long-term downward trend, i.e. structurally decline:

1. Indication for a growing business: Greenblatt Upside greater than Graham Upside.
2. Indication for a declining business: Greenblatt Upside less than Graham Upside.

Going-concern: Fair value estimates are based on the going-concern principle, which is a basic concept in accounting that assumes a company will continue to operate in the foreseeable future. The significance of this concept becomes apparent when the value of a running business is compared with the value of one being liquidated.

Companies in decline: Caution is warranted on companies with declining long-term profitability and stocks with unusually high fair value upside as the going-concern principle might be impaired.

IMPORTANT INFORMATION: This information has been prepared solely for information purposes and is not an advice to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. This information is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. We do not undertake to update this information. Certain assumptions may have been made in the analysis that resulted in any information and returns/results detailed herein. No representation is made that any results/returns indicated would be achieved or that all assumptions in achieving these returns have been considered or stated. Changes to the assumptions may have a material impact on any results/returns detailed. ValueExplorer.com disclaim any and all liability relating to this information, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, this information. Past performance and, where applicable, simulations and forecasts are no reliable indicators of future results. Price and availability are subject to change without notice. ValueExplorer.com does not give investment, tax, accounting and legal or regulatory advice and prospective investors should consult with their professional advisors. This communication is a marketing communication. It should not be regarded as an investment research recommendation and has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Unless stated otherwise, the material contained herein has not been based on a consideration of any individual client circumstances and as such should not be considered to be a personal investment recommendation. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision based on the information provided from using this site. Unless stated otherwise, ValueExplorer.com or its staff has no positions in any stocks mentioned, and no plans to initiate any positions, and does not and will not receive direct or indirect compensation for mentioning a security. The names of individuals appearing on this site are for identification purposes of the methodology only and are not intended to suggest or imply any affiliation with or endorsement or even agreement with this report personally by such persons, or any knowledge or approval by such persons of the content of this report. All trademarks, service marks and tradenames appearing in this report are the property of their respective owners, and are likewise used for identification purposes only