New program teaches students to become electricians
SPRINGFIELD, Mo. — Midwest Technical Institute held a grand opening for its new program, aimed at teaching those who want to become electricians.
'I went and joined the program. I've been having a blast ever since I joined,' Student Austin Massey said.
Massey is just one of several students taking part in the course.
'This is my first introduction to electrical in general, residential, commercial, all that,' Massey said.
For him, it's been a neat experience.
'It's really cool to learn all the intricate stuff about electrical and why stuff works and why buildings are powered and everything and all that fun stuff,' Massey added.
Program Director/Instructor Shelby Obermann says they keep students busy by teaching them from their code book or with hands-on training.
'Today, the students are working on grounding and bonding,' Obermann said. 'They're essentially just kind of going over everything that we've learned about these past couple of weeks.'
The program helps by turning students into apprentices, just one step in the journey, and helping address a workforce shortage of electricians nationwide.
'It's a seven month program, just gives you an entry level position to be able to go out there as an apprentice and apply the skills and stuff like that that you're learning here, both code book and hands-on, because I am 100% implementing more hands-on than just bookwork,' Obermann said.
That shortage is something Brian Turmail, with the Association of General Contractors of America, says the industry desperately needs to address.
'[Based on our survey] in Missouri alone, two-thirds of contractors say they're having a hard time finding enough electricians to hire to keep pace with demand,' Turmail said.
Turmail says one of the reasons for the shortage is that a lot of students are pursuing four-year degrees, rather than going through trade schools.
'The shortest answer is mothers don't want their babies to grow up to be construction workers in this country,' Turmail said. 'We're encouraged by what we see in programs like [MTI's].'
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Life360's estimated fair value is AU$30.82 based on 2 Stage Free Cash Flow to Equity With AU$33.25 share price, Life360 appears to be trading close to its estimated fair value Our fair value estimate is 4.8% higher than Life360's analyst price target of US$29.42 How far off is Life360, Inc. (ASX:360) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to their present value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. It may sound complicated, but actually it is quite simple! We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF ($, Millions) US$58.8m US$84.5m US$143.6m US$175.0m US$216.0m US$247.1m US$274.2m US$297.7m US$318.1m US$336.3m Growth Rate Estimate Source Analyst x3 Analyst x3 Analyst x3 Analyst x1 Analyst x1 Est @ 14.40% Est @ 10.96% Est @ 8.56% Est @ 6.88% Est @ 5.70% Present Value ($, Millions) Discounted @ 7.9% US$54.5 US$72.6 US$114 US$129 US$148 US$157 US$161 US$163 US$161 US$158 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$1.3b After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.9%. We discount the terminal cash flows to today's value at a cost of equity of 7.9%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$336m× (1 + 2.9%) ÷ (7.9%– 2.9%) = US$7.1b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$7.1b÷ ( 1 + 7.9%)10= US$3.3b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is US$4.6b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of AU$33.3, the company appears around fair value at the time of writing. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Life360 as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.9%, which is based on a levered beta of 1.133. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. View our latest analysis for Life360 Strength Currently debt free. Weakness No major weaknesses identified for 360. Opportunity Annual earnings are forecast to grow faster than the Australian market. Good value based on P/S ratio compared to estimated Fair P/S ratio. Threat Revenue is forecast to grow slower than 20% per year. Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Life360, we've compiled three further elements you should further research: Risks: Every company has them, and we've spotted 2 warning signs for Life360 you should know about. Future Earnings: How does 360's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. Simply Wall St updates its DCF calculation for every Australian stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
