Estimating Sustainable Free Cash Flow What Should the Shares Trade at?

Defining Intrinsic Value

We define intrinsic value as what a knowledgeable investor or corporate competitor would pay, in cash, for 100% of the company. From the ground up we build that by making all the relevant adjustments to the income statement and balance sheet, then applying a multiple that reflects the quality of the business to the resulting normalized earnings.
Tags: value, company, income