Uniform Accounting highlights that NCR’s Adjusted EPS is stronger than as-reported metrics reflect, and growth is accelerating, which valuations don’t reflect

• NCR’s traditional EPS is materially distorted by the accounting for operating leases and R&D

• After making the appropriate UAFRS adjustments, EPS’ growth has been strong, is accelerating to 48% this year, and EPS’ is well above levels as-reported metrics would suggest

• Additionally, NCR trades at an extremely inexpensive 0.25x UAFRS-adjusted PEG, trades at valuations below peers, and as-reported P/E overstates valuations

http://ift.tt/2qqw8SO

Submitted May 02, 2017 at 09:29PM by Valens_Research http://ift.tt/2pDRVn1