Intrinsic value of GNC Holdings Cl A - GNC

Previous Close

$9.32

  Intrinsic Value

$7.25

stock screener

  Rating & Target

sell

-22%

  Value-price divergence*

-9%

Previous close

$9.32

 
Intrinsic value

$7.25

 
Up/down potential

-22%

 
Rating

sell

 
Value-price divergence*

-9%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of GNC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -5.33
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,540
  2,591
  2,650
  2,719
  2,795
  2,880
  2,973
  3,074
  3,184
  3,302
  3,428
  3,564
  3,708
  3,862
  4,026
  4,200
  4,384
  4,579
  4,785
  5,002
  5,232
  5,475
  5,731
  6,000
  6,284
  6,583
  6,898
  7,230
  7,579
  7,946
  8,332
Variable operating expenses, $m
 
  2,220
  2,271
  2,329
  2,394
  2,466
  2,545
  2,631
  2,724
  2,824
  2,932
  3,030
  3,152
  3,283
  3,423
  3,570
  3,727
  3,892
  4,067
  4,252
  4,448
  4,654
  4,871
  5,101
  5,342
  5,596
  5,864
  6,146
  6,443
  6,755
  7,083
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,732
  2,220
  2,271
  2,329
  2,394
  2,466
  2,545
  2,631
  2,724
  2,824
  2,932
  3,030
  3,152
  3,283
  3,423
  3,570
  3,727
  3,892
  4,067
  4,252
  4,448
  4,654
  4,871
  5,101
  5,342
  5,596
  5,864
  6,146
  6,443
  6,755
  7,083
Operating income, $m
  -192
  371
  380
  390
  401
  414
  428
  443
  460
  477
  496
  534
  556
  579
  604
  630
  657
  686
  717
  750
  784
  821
  859
  900
  942
  987
  1,034
  1,084
  1,136
  1,191
  1,249
EBITDA, $m
  -132
  431
  441
  452
  465
  479
  495
  512
  530
  549
  570
  593
  617
  643
  670
  699
  729
  762
  796
  832
  871
  911
  954
  998
  1,046
  1,096
  1,148
  1,203
  1,261
  1,322
  1,386
Interest expense (income), $m
  48
  54
  45
  46
  48
  50
  52
  54
  57
  60
  63
  66
  70
  73
  77
  81
  86
  90
  95
  101
  106
  112
  118
  125
  132
  139
  147
  155
  163
  172
  181
Earnings before tax, $m
  -233
  317
  335
  344
  353
  364
  376
  389
  403
  418
  434
  468
  486
  506
  527
  548
  572
  596
  622
  649
  678
  709
  741
  775
  811
  848
  888
  929
  973
  1,019
  1,068
Tax expense, $m
  53
  86
  90
  93
  95
  98
  102
  105
  109
  113
  117
  126
  131
  137
  142
  148
  154
  161
  168
  175
  183
  191
  200
  209
  219
  229
  240
  251
  263
  275
  288
Net income, $m
  -286
  231
  245
  251
  258
  266
  274
  284
  294
  305
  317
  342
  355
  369
  384
  400
  417
  435
  454
  474
  495
  517
  541
  566
  592
  619
  648
  678
  710
  744
  780

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  34
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,056
  2,098
  2,146
  2,201
  2,263
  2,332
  2,407
  2,489
  2,578
  2,673
  2,776
  2,886
  3,003
  3,128
  3,260
  3,401
  3,550
  3,707
  3,874
  4,051
  4,237
  4,433
  4,640
  4,858
  5,088
  5,331
  5,586
  5,854
  6,137
  6,434
  6,746
Adjusted assets (=assets-cash), $m
  2,022
  2,098
  2,146
  2,201
  2,263
  2,332
  2,407
  2,489
  2,578
  2,673
  2,776
  2,886
  3,003
  3,128
  3,260
  3,401
  3,550
  3,707
  3,874
  4,051
  4,237
  4,433
  4,640
  4,858
  5,088
  5,331
  5,586
  5,854
  6,137
  6,434
  6,746
Revenue / Adjusted assets
  1.256
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
  1.235
Average production assets, $m
  950
  969
  991
  1,017
  1,045
  1,077
  1,112
  1,150
  1,191
  1,235
  1,282
  1,333
  1,387
  1,445
  1,506
  1,571
  1,640
  1,712
  1,789
  1,871
  1,957
  2,048
  2,143
  2,244
  2,350
  2,462
  2,580
  2,704
  2,834
  2,972
  3,116
Working capital, $m
  478
  466
  477
  489
  503
  518
  535
  553
  573
  594
  617
  641
  668
  695
  725
  756
  789
  824
  861
  900
  942
  985
  1,032
  1,080
  1,131
  1,185
  1,242
  1,301
  1,364
  1,430
  1,500
Total debt, $m
  1,540
  1,277
  1,320
  1,370
  1,426
  1,488
  1,555
  1,629
  1,709
  1,795
  1,887
  1,986
  2,092
  2,204
  2,323
  2,450
  2,584
  2,726
  2,876
  3,034
  3,202
  3,379
  3,565
  3,762
  3,969
  4,187
  4,416
  4,658
  4,912
  5,179
  5,461
Total liabilities, $m
  2,151
  1,888
  1,931
  1,981
  2,037
  2,099
  2,166
  2,240
  2,320
  2,406
  2,498
  2,597
  2,703
  2,815
  2,934
  3,061
  3,195
  3,337
  3,487
  3,645
  3,813
  3,990
  4,176
  4,373
  4,580
  4,798
  5,027
  5,269
  5,523
  5,790
  6,072
Total equity, $m
  -95
  210
  215
  220
  226
  233
  241
  249
  258
  267
  278
  289
  300
  313
  326
  340
  355
  371
  387
  405
  424
  443
  464
  486
  509
  533
  559
  585
  614
  643
  675
Total liabilities and equity, $m
  2,056
  2,098
  2,146
  2,201
  2,263
  2,332
  2,407
  2,489
  2,578
  2,673
  2,776
  2,886
  3,003
  3,128
  3,260
  3,401
  3,550
  3,708
  3,874
  4,050
  4,237
  4,433
  4,640
  4,859
  5,089
  5,331
  5,586
  5,854
  6,137
  6,433
  6,747
Debt-to-equity ratio
  -16.211
  6.090
  6.150
  6.220
  6.300
  6.380
  6.460
  6.550
  6.630
  6.710
  6.800
  6.880
  6.970
  7.050
  7.130
  7.200
  7.280
  7.350
  7.420
  7.490
  7.560
  7.620
  7.680
  7.740
  7.800
  7.850
  7.910
  7.960
  8.000
  8.050
  8.090
Adjusted equity ratio
  -0.064
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -286
  231
  245
  251
  258
  266
  274
  284
  294
  305
  317
  342
  355
  369
  384
  400
  417
  435
  454
  474
  495
  517
  541
  566
  592
  619
  648
  678
  710
  744
  780
Depreciation, amort., depletion, $m
  60
  60
  61
  62
  64
  65
  67
  68
  70
  72
  74
  59
  61
  64
  66
  69
  72
  75
  79
  82
  86
  90
  94
  99
  104
  108
  114
  119
  125
  131
  137
Funds from operations, $m
  194
  292
  306
  313
  322
  331
  341
  352
  364
  377
  391
  401
  416
  433
  451
  470
  489
  511
  533
  556
  581
  608
  635
  664
  695
  728
  762
  798
  835
  875
  917
Change in working capital, $m
  -14
  9
  11
  12
  14
  15
  17
  18
  20
  21
  23
  24
  26
  28
  29
  31
  33
  35
  37
  39
  41
  44
  46
  49
  51
  54
  57
  60
  63
  66
  69
Cash from operations, $m
  208
  283
  295
  301
  308
  316
  324
  334
  344
  356
  368
  376
  390
  405
  421
  438
  456
  475
  496
  517
  540
  564
  589
  616
  644
  674
  705
  738
  773
  809
  847
Maintenance CAPEX, $m
  0
  -42
  -43
  -44
  -45
  -46
  -47
  -49
  -51
  -52
  -54
  -56
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -79
  -82
  -86
  -90
  -94
  -99
  -104
  -108
  -114
  -119
  -125
  -131
New CAPEX, $m
  -60
  -19
  -22
  -25
  -29
  -32
  -35
  -38
  -41
  -44
  -47
  -51
  -54
  -58
  -61
  -65
  -69
  -73
  -77
  -81
  -86
  -91
  -96
  -101
  -106
  -112
  -118
  -124
  -130
  -137
  -144
Cash from investing activities, $m
  -22
  -61
  -65
  -69
  -74
  -78
  -82
  -87
  -92
  -96
  -101
  -107
  -113
  -119
  -125
  -131
  -138
  -145
  -152
  -160
  -168
  -177
  -186
  -195
  -205
  -216
  -226
  -238
  -249
  -262
  -275
Free cash flow, $m
  186
  222
  230
  232
  235
  238
  242
  247
  253
  259
  266
  269
  277
  287
  296
  307
  318
  330
  343
  357
  372
  387
  403
  421
  439
  458
  479
  500
  523
  547
  572
Issuance/(repayment) of debt, $m
  79
  -263
  43
  50
  56
  62
  68
  74
  80
  86
  92
  99
  105
  112
  119
  127
  134
  142
  150
  159
  168
  177
  186
  196
  207
  218
  230
  242
  254
  267
  281
Issuance/(repurchase) of shares, $m
  -229
  73
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -153
  -190
  43
  50
  56
  62
  68
  74
  80
  86
  92
  99
  105
  112
  119
  127
  134
  142
  150
  159
  168
  177
  186
  196
  207
  218
  230
  242
  254
  267
  281
Total cash flow (excl. dividends), $m
  33
  32
  274
  282
  290
  300
  310
  321
  333
  345
  358
  368
  383
  399
  416
  434
  452
  472
  493
  516
  539
  564
  590
  617
  646
  676
  708
  742
  777
  814
  853
Retained Cash Flow (-), $m
  564
  -305
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -273
  269
  276
  284
  293
  302
  313
  324
  335
  348
  357
  371
  386
  402
  419
  438
  457
  477
  498
  520
  544
  569
  595
  623
  652
  683
  715
  749
  785
  822
Discount rate, %
 
  14.00
  14.70
  15.44
  16.21
  17.02
  17.87
  18.76
  19.70
  20.68
  21.72
  22.80
  23.94
  25.14
  26.40
  27.72
  29.10
  30.56
  32.09
  33.69
  35.38
  37.15
  39.00
  40.95
  43.00
  45.15
  47.41
  49.78
  52.27
  54.88
  57.63
PV of cash for distribution, $m
 
  -239
  204
  179
  156
  133
  113
  94
  77
  62
  49
  37
  28
  21
  15
  11
  7
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

GNC Holdings, Inc., together with its subsidiaries, operates as a specialty retailer of health, wellness, and performance products. Its products include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink, and other general merchandise. The company sells its products under the GNC proprietary brands, as well as under third-party brands. It operates a network of approximately 9,000 locations under the GNC brand worldwide. The company sells its products through company-owned retail stores; Websites, including GNC.com and LuckyVitamin.com, as well as Drugstore.com; domestic and international franchise activities; and third-party contract manufacturing. GNC Holdings, Inc. was founded in 1935 and is headquartered in Pittsburgh, Pennsylvania.

FINANCIAL RATIOS  of  GNC Holdings Cl A (GNC)

Valuation Ratios
P/E Ratio -2.2
Price to Sales 0.3
Price to Book -6.7
Price to Tangible Book
Price to Cash Flow 3.1
Price to Free Cash Flow 4.3
Growth Rates
Sales Growth Rate -5.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 30.4%
Cap. Spend. - 3 Yr. Gr. Rate 3.7%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity -1607.4%
Total Debt to Equity -1621.1%
Interest Coverage -4
Management Effectiveness
Return On Assets -9.9%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital -17%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity -152.9%
Return On Equity - 3 Yr. Avg. -28.2%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 33.9%
Gross Margin - 3 Yr. Avg. 35.8%
EBITDA Margin -4.9%
EBITDA Margin - 3 Yr. Avg. 10.1%
Operating Margin -7.6%
Oper. Margin - 3 Yr. Avg. 7.7%
Pre-Tax Margin -9.2%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin -11.3%
Net Profit Margin - 3 Yr. Avg. 2.2%
Effective Tax Rate -22.7%
Eff/ Tax Rate - 3 Yr. Avg. 16%
Payout Ratio -19.2%

GNC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GNC stock intrinsic value calculation we used $2540 million for the last fiscal year's total revenue generated by GNC Holdings Cl A. The default revenue input number comes from 2016 income statement of GNC Holdings Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GNC stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14%, whose default value for GNC is calculated based on our internal credit rating of GNC Holdings Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of GNC Holdings Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GNC stock the variable cost ratio is equal to 85.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GNC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for GNC Holdings Cl A.

Corporate tax rate of 27% is the nominal tax rate for GNC Holdings Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GNC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GNC are equal to 37.4%.

Life of production assets of 22.7 years is the average useful life of capital assets used in GNC Holdings Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GNC is equal to 18%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-95 million for GNC Holdings Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 66.248 million for GNC Holdings Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of GNC Holdings Cl A at the current share price and the inputted number of shares is $0.6 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Stressed? This Virginia startup thinks it has the solution.   [Aug-16-17 03:20PM  American City Business Journals]
▶ GNC beats 2Q profit forecasts   [01:44AM  Associated Press]
▶ NIH selection propels Cardax towards expansion   [Jun-20-17 09:30PM  American City Business Journals]
▶ Bullish Sign: These 11 CEOs Bought Their Stock   [Jun-19-17 11:20AM  Investopedia]
▶ ETFs with exposure to GNC Holdings, Inc. : June 15, 2017   [Jun-15-17 02:03PM  Capital Cube]
▶ Snap Returns To The Top Of Short-Seller Favorites   [Jun-06-17 04:05PM  Benzinga]
▶ ETFs with exposure to GNC Holdings, Inc. : May 18, 2017   [May-18-17 01:45PM  Capital Cube]
▶ Story Stocks from Briefing.com   [May-17-17 12:10PM  Briefing.com]
▶ GNC Stock Rises as CEO Moran Buys Shares   [11:14AM  TheStreet.com]
▶ Chuck Royce Continues to Buy These 10 Stocks   [May-16-17 03:34PM  GuruFocus.com]
▶ Vitamin Companies Seek Customer Retention Boost   [May-10-17 02:00PM  Investopedia]
▶ GNC Struggles for Breathing Room on Debt   [May-08-17 05:00AM  Bloomberg]
▶ ETFs with exposure to GNC Holdings, Inc. : May 5, 2017   [May-05-17 04:10PM  Capital Cube]
▶ ETFs with exposure to GNC Holdings, Inc. : April 25, 2017   [Apr-25-17 03:34PM  Capital Cube]
▶ What Investors Missed in the Market This Week   [Apr-22-17 01:36PM  Motley Fool]
▶ Is GNC a Deal or a Value Trap?   [Apr-21-17 08:21AM  Investopedia]
▶ Company News for April 19, 2017   [11:13AM  Zacks]
▶ GNC Shorts Get Squeezed   [10:18AM  Benzinga]
▶ Story Stocks from Briefing.com   [10:09AM  Briefing.com]
▶ Shorts Get Burned in GNC Share Price Surge   [10:07AM  The Wall Street Journal]
▶ GNC beats Street 1Q forecasts   [07:02AM  Associated Press]
▶ 5 Earnings Plays That Could Squeeze the Shorts   [Apr-17-17 12:30PM  TheStreet.com]
▶ Proof That Mr. Market Is Losing His Mind   [Mar-31-17 01:02PM  Forbes]
▶ 9 Stocks Mario Gabelli Continues to Buy   [Mar-23-17 04:54PM  GuruFocus.com]
▶ GNC Stock Spikes on Potential KKR Interest   [09:11AM  TheStreet.com]
▶ 5 Stocks Insiders Love Right Now: GNC, AXP, AVP, ASPS, SM   [Mar-01-17 02:08PM  TheStreet.com]
▶ Weekly CEO Buys Highlight   [Feb-27-17 11:59AM  GuruFocus.com]
▶ 3 Stocks We Wouldn't Touch With a 10-Foot Pole   [Feb-25-17 10:00AM  at Motley Fool]
▶ Why Shares of GNC Holdings Soared Today   [Feb-23-17 04:39PM  at Motley Fool]
▶ GNC Holdings Inc. Stock Is Gaining Some Muscle Today   [Feb-21-17 03:09PM  at Motley Fool]
Stock chart of GNC Financial statements of GNC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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