Source: Shutterstock In this article we are going to estimate the intrinsic value of Cleveland-Cliffs Inc. ( NYSE:CLF ) by taking the forecast future cash flows of the company and discounting them back to today’s value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won’t be able to understand it, just read on! It’s actually much less complex than you’d imagine. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model . Crunching The Numbers We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second ‘steady growth’ period. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren’t available we extrapolate the previous free cash flow (FCF) from […]

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Chipmaker Onsemi ( ON ) on Monday beat Wall Street’s targets for the fourth quarter but guided lower for the current period. ON stock initially fell on the news but then turned positive. The Phoenix-based company, also known as ON Semiconductor, earned an adjusted $1.32 a share on sales of $2.1 billion in the December quarter. Analysts polled by FactSet had expected earnings of $1.26 a share on sales of $2.08 billion. On a year-over-year basis, Onsemi earnings rose 21% while sales climbed 14%. For the current quarter, Onsemi predicted earnings of an adjusted $1.08 a share on sales of $1.92 billion. That’s based on the midpoint of its guidance. Wall Street had forecast earnings of $1.14 a share on sales of $2 billion for the first quarter. The company also announced a new $3 billion stock buyback plan. ON Stock Seesaws After Report The secular megatrends of electric vehicles, advanced driver-assistance systems, alternative energy and industrial automation drove Onsemi’s revenue growth in the fourth quarter, Chief Executive Hassane El-Khoury said in a news release . In morning trades on the stock market today , ON stock dropped as much as 4.2% before rebounding. In recent trades, it was […]

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Digital technologies are changing our daily experience of public services, much of it for the better. Over the past few decades, government departments have migrated information and forms from paper onto a screen, with numerous benefits. HM Revenue and Customs, for example, can celebrate over 20 fun-packed years of online tax returns , from just 38,000 filed in 2001 to around 11 million in 2022. Yet the original political ambitions were not simply about moving government online, but to use digital, data and technology to redesign democracy and our public institutions. As Parliament’s Public Accounts Committee commented in late 2021 , “departments have failed to understand the difference between improving what currently exists and real digital transformation, meaning that they have missed opportunities to move to modern, efficient ways of working”. The ambition This lack of understanding is a relatively recent phenomenon. During the 1990s, the UK Government planned to use technology to change relationships between citizens and the state, with implications for the structure of government and democratic processes. By 1998, the Cabinet Office’s Central IT Unit (CITU) was exploring how government could use DDaT to fundamentally re-organise. And by 2002, there was a consultation on ways “to […]

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Harvard Business School (HBS) has published a case study focused on DBS Bank ‘s digital transformation journey which was put together over a span of 15 months. The DBS case study is being taught in HBS’ Master of Business Administration (MBA) programme and its executive education courses by Professor Ranjay Gulati, Paul R. Lawrence MBA Class of 1942 Professor of Business Administration. Available at Harvard Business Publishing’s repository, the case study is a result of a series of interviews between Gulati and DBS’ leadership team. Other institutions which have written case studies on DBS include INSEAD, the International Institute for Management Development (IMD), IESE, Singapore Management University and Nanyang Technological University. Professor Ranjay Gulati Gulati said, “Through my numerous conversations with the bank’s executives, what came across very strongly were the digital and purpose-focused elements of the transformation and how these permeated every level of the organisation. The willingness from the leadership to resource the change enabled a building up of the workforce’s innovation ‘muscles’ to create a startup culture – quite a feat for an organisation of 33,000 people.” Piyush Gupta, CEO of DBS said, “Behaving like a startup meant shifting the bank’s mindset from that of a […]

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Over 40 per cent of integrated care systems are yet to establish digital strategies, HSJ research has discoverd. You need to be signed in to read more Subscribe for unlimited access With a HSJ subscription you’ll unlock: All of HSJ.co.uk and our HSJ mobile app News and insight on all areas of public funded healthcare Expert commentary, insight and analysis from industry leaders 9 weekly ‘Expert Briefing’ insight emails covering a variety of specialist topics

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Digital Health Rewired, the premier conference, exhibition and networking show for the UK digital health community, has published its 2023 programme showcasing the very best use of digital and data across UK health and care. A key theme for Rewired 2023 is how digital and data can help health and care providers better manage unprecedented demands on services and deliver new models of care. Rewired speakers include: Dr Tim Ferris, director of digital transformation NHS England; Sebastien James, president and MD, Boots UK and ROI; Rt Hon Patricia Hewitt, chair NHS Norfolk and Waveney ICB; Professor Ben Goldacre, director Bennet Institute for Applied Data Science; Helen Thomas, CEO Digital Health and Care Wales; Dr Natasha Philips, CNIO NHS England; Rob Webster, the CEO of West Yorkshire and Harrogate Partnership; Dr Minal Bakhai, director for primary care transformation, NHS England. Rewired 2023 runs 14-15 March at London’s Business Design Centre featuring more than 200 speakers across seven great CPD-accredited stages: National Policy Integrated care Digital Transformation Digital Nursing Summit AI Analytics and Data Smart Health Clinical Imaging/Smart Medical Devices The programme includes national keynotes, local NHS digital leaders and their teams, dynamic start-ups, policy experts, and industry thought leaders. A […]

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Minister of Information and Communications Nguyen Manh Hung stressed that MIC is the leading ministry in the Make-in-Vietnam campaign and serves as the cradle for technology firms to experiment with and develop products. Minister of Information and Communications Nguyen Manh Hung The Minister has worked with MIC’s Information Center, which aims to define the role and development orientation of the center in the new period. According to the center’s director Do Cong Anh, the center’s plans focus on three major tasks in 2023, namely comprehensive digital transformation at the center and ministry; digital transformation in communications at the ministry; and the development of services to increase workers’ incomes. Hoping that the information center will open a new page in its development history, Hung emphasized the 2-in-1 role of the center: as the agency responsible for MIC’s digital transformation and the unit in charge of disseminating MIC’s policies and operations. The center will become the commander-in-chief of both communications and digital transformation. At the meeting, problems that arose during the digital transformation process were addressed. “Today, we need to agree on the new viewpoint that specifically designed systems, small systems for internal use of a ministry which is leading in […]

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One of the first things Patrick Thompson (pictured) did on becoming chief information and digital transformation officer of specialty chemicals manufacturer Albemarle in 2017 was to introduce an annual survey to gauge employee attitudes toward services IT staff provides. Now he has a self-service bot delivering some of those services through Microsoft Teams, and providing real-time feedback on what employees want its help with, and whether they get it or not. Albemarle is growing fast. Net sales have more than doubled in the five years Thompson has been with the company, and its goal is to double them again in the next five. One of Albemarle’s biggest businesses is producing lithium, the low-density, highly reactive metal that revolutionized phone and laptop batteries. However, demand for lithium is now being driven by electric car batteries, each one of which contains thousands of times more lithium than a typical phone battery. [ Learn the basics of master data management and discover which MDM certifications will give your career a boost . | Sign up for CIO newsletters . ] Like other lithium producers, Albemarle is scaling up, and with new production facilities and expanding existing ones, the number of workers is […]

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The insurance industry is undergoing a sea change, with IT playing a crucial role in rolling out digital customer experiences for policyholders and agents, as in-person meetings all but vanish in the post-pandemic era. This pivot to digital customer experiences has become a new insurance industry imperative, as John Aflac, Liberty Mutual, MassMutual, MetLife, and a host of other insurers have embraced digital strategies for interacting with and delivering new services to customers — in some cases, integrating advanced cloud technologies such as analytics and machine learning to design new insurance policies. [ Learn from your peers: Check out our State of the CIO report on the challenges and concerns of CIOs today. | Find out the 7 skills of successful digital leaders and the secrets of highly innovative CIOs . ] Bill Pappas, who joined MetLife as head of global technology and operations three years ago to drive the CEO’s customer-first strategy, exemplifies the new insurance CIO ethos. “We are paying very close attention to trends from a customer perspective. We call our approach high tech and high touch, because that takes into account the very clear feedback that we’re getting from our customers — that they want […]

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QBE North America has announced two key executive appointments. Rachel Pollack has been named chief people officer, while David Mulligan has been appointed chief operating officer. In her new role, Pollack will lead the development and implementation of the company’s North American people strategy. Pollack joined QBE in 2008 and has held a variety of roles in change management, human resources, culture and business transformation. She most recently served as group people director, global corporate functions. Prior to that, she served as the company’s first group head of enterprise culture. From 2014 to 2015, she served as vice president and head of HR change for North America. In that role, she spearheaded several transformation initiatives, including organizational design, restructuring and HR systems. In his new role, Mulligan will be responsible for identifying, planning and executing large-scale change projects to improve process efficiency, reduce complexity and increase cost savings for the company while improving workforce capability and customer experience. Mulligan will head up QBE North America’s business delivery teams, including digital transformation, business process engineering, automation and robotics, and the offshore transition team. He will also oversee underwriting operations, program onboarding and services, billing, collections, accounts payable, production automation support, […]

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