Growing global demand for BMW premium-priced products supports solid economic profit.
We recently raised our fair value estimate on the shares of narrow-moat-rated BMW to EUR 117 per share from EUR 110 after rolling our model to the next fiscal year. The EUR 7 increase was attributable to increased balance sheet cash (EUR 3), debt reduction (EUR 2), and the time value of money (EUR 2) since our last update. Our fair value estimate on the ADR shares is $46, using currency rate of $1.1912/EUR 1. There are three BMWYY ADR shares for every BMW ordinary common share.We think the sha...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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