Go to ...

ModernGraham

Value Investing Research Since 2006

RSS Feed

Tuesday, January 16, 2018

Western Refining Inc. Valuation – October 2015 Update $WNR



Warning: mysqli_real_escape_string(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1109

Warning: mysqli_real_escape_string(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1109

Warning: mysqli_free_result(): Couldn't fetch mysqli_result in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1476

Warning: mysqli_more_results(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1485

Warning: mysqli_query(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1931

Warning: mysqli_errno(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1827

Warning: mysqli_error(): Couldn't fetch mysqli in /home/wp_gdwhyw/moderngraham.com/wp-includes/wp-db.php on line 1854

Benjamin Graham taught that Intelligent Investors must do a thorough fundamental analysis of investment opportunities to determine their intrinsic value and inherent risk.  This is best done by utilizing a systematic approach to analysis that will provide investors with a sense of how a specific company compares to another company or by reviewing the 10 Most Undervalued Companies for the Defensive Investor – October 2015.  By using the ModernGraham method one can review a company’s historical accomplishments and determine an intrinsic value that can be compared across industries.  What follows is a stock analysis showing a specific look at how Western Refining Inc. (WNR) fares in the ModernGraham valuation model.

Company Profile (obtained from Google Finance): Western Refining, Inc. (Western) is an independent crude oil refiner and marketer of refined products. The Company operates through four business segments: refining, Northern Tier Energy LP (NTI), Western Refining Logistics, LP (WNRL) and retail. The Company’s refining segment owns and operates two refineries in the Southwest that process crude oil and other feedstocks primarily into gasoline, diesel fuel, jet fuel and asphalt. The NTI segment owns and operates refining and transportation assets and operates and supports retail convenience stores primarily in the Upper Great Plains region of the United States. The WNRL segment owns and operates terminal, storage, transportation and provides related services primarily to its refining segment in the Southwest. The retail segment operates retail convenience stores and unmanned commercial fleet fueling locations located in the Southwest. The retail convenience stores sell gasoline, diesel fuel and convenience store merchandise.


To read the details of this valuation, you must be logged in as a premium member. If you are not a premium member, please consider becoming one.

Premium members can view a full ModernGraham valuation of the company and have access to download a PDF version of the valuation for easy reference. Here is a free sample valuation pdf, and here is a post detailing what can be found within each individual company’s valuation.


Useful Links:

ModernGraham tagged articles Morningstar
Google Finance MSN Money
Yahoo Finance Seeking Alpha
GuruFocus SEC Filings

Most Recent Balance Sheet Figures

Total Current Assets $2,084,182,000
Total Current Liabilities $1,020,961,000
Long-Term Debt $1,592,137,000
Total Assets $5,953,549,000
Intangible Assets $1,374,427,000
Total Liabilities $4,676,994,000
Shares Outstanding (Diluted Average) 95,626,000

Earnings Per Share History

Next Fiscal Year Estimate $4.04
Dec14 $5.61
Dec13 $2.79
Dec12 $3.71
Dec11 $1.34
Dec10 -$0.19
Dec09 -$4.43
Dec08 $0.94
Dec07 $3.53
Dec06 $3.11

Earnings Per Share – ModernGraham History

Next Fiscal Year Estimate $3.98
Dec14 $3.52
Dec13 $1.87
Dec12 $1.03
Dec11 -$0.13
Dec10 -$0.38
Dec09 -$0.11
Dec08 $1.88
Dec07 $2.01
Dec06 $1.04

Recommended Reading:

Other ModernGraham posts about the company

10 Most Undervalued Companies for the Enterprising Investor – October 2015
10 Companies Benjamin Graham Would Invest In Today – September 2015
The Best Companies of the Oil & Gas Industry – August 2015
10 Low PE Stocks for the Enterprising Investor – August 2015
The 16 Best Stocks For Value Investors This Week – 8/1/15

Other ModernGraham posts about related companies

Valero Energy Corporation Valuation – October 2015 Update $VLO
Schlumberger Limited Valuation – October 2015 Update $SLB
National Oilwell Varco Inc. Valuation – October 2015 Update $NOV
Tesoro Corporation Analysis – October 2015 Update $TSO
Cameron International Company Analysis – September 2015 Update $CAM
Halliburton Company Analysis – September 2015 Update $HAL
Kinder Morgan Inc. Analysis – September 2015 Update $KMI
Range Resources Corporation Analysis – August 2015 Update $RRC
Helmerich & Payne Inc. Analysis – August 2015 Update $HP
FMC Technologies Inc. Analysis – August 2015 Update $FTI

Disclaimer:

The author did not hold a position in any company mentioned in this article at the time of publication and had no intention of changing that position within the next 72 hours.  See my current holdings here.  This article is not investment advice; any reader should speak to a registered investment adviser prior to making any investment decisions.  ModernGraham is not affiliated with the company in any manner.  Please be sure to review our detailed disclaimer.

Tags: , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

More Stories From Oil & Gas

About Benjamin Clark