We recently announced a forthcoming update to the historical Cash Tax Rate used in our models. Details on this change are here.

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Rating Changes Caused by Updating the Cash Tax Rate

The seven stocks below will see their ratings change as a result of this update.

Figure 1: Ratings Impacted by Cash Tax Rate Update

Sources: New Constructs, LLC

Impact on our Models

The impact on the aggregate net operating profit after-tax (NOPAT) across our coverage universe is:

  • Average fiscal 2017 NOPAT will increase by ~11%
  • Average fiscal 2018 NOPAT will increase by ~7%
  • Average fiscal 2019 NOPAT will increase by ~4%
  • Average trailing-twelve-month (TTM) NOPAT will increase by ~2%

When You Will See the Change: Thursday, December 17

This update will go into effect on our site the morning of Thursday, December 17.

This article originally published on December 16, 2020.

Disclosure: David Trainer, Kyle Guske II, and Matt Shuler receive no compensation to write about any specific stock, style, or theme.

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