Single-stock futures are securities that share some of the features of Equities and also some of traditional commodity . There are interest rate benefits that can not be found with other products.
where F is the single-stock futures contract price, P is the underlying stock price, r is the annualized interest rate, and Div is the expected dividend.
Another valuation of single stock futures can be found through the following:
where S is the price of the underlying (the stock price), PV(Div) is the Present value of any dividends entitled to the holder of the underlying between T and t, r is the risk free rate, and e is the base of the natural log. F is of course the price of the single stock futures contract.