Equity valuation : WestJet Airlines
Bibliographic record
Abstract
The purpose of this dissertation was to determine if a discrepancy was present in the market value of WestJet Airlines (WJA.TO) relative to its computed intrinsic value. WJA.TO is one of two major airlines that services the Canadian market and has experienced significant growth in its 25 years of tenure. As such, they appear to have entered into a state of maturity which now prompts the question, “what is their true value”. To thoroughly answer this question, an in-depth analysis of past market conditions as well as future market expectations and the competitive landscape were assessed in conjunction with WestJet’s historical performance. The Discounted Cash Flow method was used in tandem with a Relative Valuation approach to arrive at a value of $35.41/share CAD with the current share price hovering at $31/share CAD. Because the current $31/share was a market reaction to the Onex offer, the recommendation would be to Hold the stock as investment theory dictates that price is unlikely to move beyond that $31/share threshold. This valuation was directly compared to two analysts’ reports, one preceding the Onex deal and one proceeding it, with a $35/share price more closely aligning with the analyst report following the announcement.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.002 | 0.002 |
| Meta-epidemiology (broad) | 0.003 | 0.002 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.003 | 0.001 |
| Research integrity | 0.004 | 0.003 |
| Insufficient payload (model declined to judge) | 0.004 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; both teacher heads agree on what is shown here.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".