Intrinsic value of Graphic Packaging Holding - GPK

Previous Close

$13.77

  Intrinsic Value

$10.85

stock screener

  Rating & Target

sell

-21%

  Value-price divergence*

+63%

Previous close

$13.77

 
Intrinsic value

$10.85

 
Up/down potential

-21%

 
Rating

sell

 
Value-price divergence*

+63%

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

We calculate the intrinsic value of GPK 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 4.2

 

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, %
  3.32
  2.70
  2.93
  3.14
  3.32
  3.49
  3.64
  3.78
  3.90
  4.01
  4.11
  4.20
  4.28
  4.35
  4.42
  4.47
  4.53
  4.57
  4.62
  4.65
  4.69
  4.72
  4.75
  4.77
  4.80
  4.82
  4.83
  4.85
  4.87
  4.88
  4.89
Revenue, $m
  4,298
  4,414
  4,543
  4,686
  4,842
  5,011
  5,193
  5,389
  5,599
  5,824
  6,063
  6,318
  6,588
  6,875
  7,178
  7,499
  7,839
  8,197
  8,576
  8,975
  9,396
  9,839
  10,307
  10,799
  11,317
  11,862
  12,435
  13,038
  13,673
  14,340
  15,042
Variable operating expenses, $m
 
  3,956
  4,068
  4,192
  4,327
  4,474
  4,632
  4,802
  4,985
  5,179
  5,387
  5,482
  5,716
  5,965
  6,229
  6,507
  6,802
  7,113
  7,441
  7,788
  8,153
  8,538
  8,943
  9,370
  9,819
  10,292
  10,790
  11,313
  11,864
  12,443
  13,051
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
  3,902
  3,956
  4,068
  4,192
  4,327
  4,474
  4,632
  4,802
  4,985
  5,179
  5,387
  5,482
  5,716
  5,965
  6,229
  6,507
  6,802
  7,113
  7,441
  7,788
  8,153
  8,538
  8,943
  9,370
  9,819
  10,292
  10,790
  11,313
  11,864
  12,443
  13,051
Operating income, $m
  396
  458
  475
  494
  515
  537
  561
  587
  615
  645
  676
  836
  872
  910
  950
  992
  1,037
  1,085
  1,135
  1,188
  1,243
  1,302
  1,364
  1,429
  1,497
  1,569
  1,645
  1,725
  1,809
  1,897
  1,990
EBITDA, $m
  695
  779
  801
  827
  854
  884
  916
  951
  988
  1,027
  1,070
  1,115
  1,162
  1,213
  1,266
  1,323
  1,383
  1,446
  1,513
  1,583
  1,658
  1,736
  1,818
  1,905
  1,996
  2,092
  2,194
  2,300
  2,412
  2,530
  2,653
Interest expense (income), $m
  65
  73
  76
  80
  84
  89
  93
  99
  104
  110
  116
  123
  130
  138
  146
  155
  164
  174
  184
  195
  206
  218
  230
  244
  258
  272
  288
  304
  321
  339
  358
Earnings before tax, $m
  319
  385
  399
  414
  430
  448
  468
  489
  511
  535
  560
  713
  741
  771
  804
  837
  873
  911
  951
  993
  1,037
  1,084
  1,133
  1,185
  1,240
  1,297
  1,358
  1,421
  1,488
  1,558
  1,632
Tax expense, $m
  93
  104
  108
  112
  116
  121
  126
  132
  138
  144
  151
  192
  200
  208
  217
  226
  236
  246
  257
  268
  280
  293
  306
  320
  335
  350
  367
  384
  402
  421
  441
Net income, $m
  228
  281
  291
  302
  314
  327
  341
  357
  373
  390
  409
  520
  541
  563
  587
  611
  637
  665
  694
  725
  757
  791
  827
  865
  905
  947
  991
  1,037
  1,086
  1,137
  1,191

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  59
  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
  4,603
  4,666
  4,803
  4,953
  5,118
  5,297
  5,490
  5,697
  5,919
  6,156
  6,409
  6,679
  6,964
  7,267
  7,588
  7,928
  8,286
  8,665
  9,065
  9,487
  9,932
  10,401
  10,895
  11,415
  11,963
  12,539
  13,145
  13,783
  14,453
  15,159
  15,900
Adjusted assets (=assets-cash), $m
  4,544
  4,666
  4,803
  4,953
  5,118
  5,297
  5,490
  5,697
  5,919
  6,156
  6,409
  6,679
  6,964
  7,267
  7,588
  7,928
  8,286
  8,665
  9,065
  9,487
  9,932
  10,401
  10,895
  11,415
  11,963
  12,539
  13,145
  13,783
  14,453
  15,159
  15,900
Revenue / Adjusted assets
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
  0.946
Average production assets, $m
  2,085
  2,141
  2,204
  2,273
  2,348
  2,430
  2,519
  2,614
  2,716
  2,825
  2,941
  3,064
  3,195
  3,334
  3,481
  3,637
  3,802
  3,976
  4,159
  4,353
  4,557
  4,772
  4,999
  5,237
  5,489
  5,753
  6,031
  6,324
  6,631
  6,955
  7,295
Working capital, $m
  335
  349
  359
  370
  382
  396
  410
  426
  442
  460
  479
  499
  520
  543
  567
  592
  619
  648
  677
  709
  742
  777
  814
  853
  894
  937
  982
  1,030
  1,080
  1,133
  1,188
Total debt, $m
  2,152
  2,185
  2,290
  2,405
  2,532
  2,669
  2,816
  2,976
  3,146
  3,328
  3,522
  3,728
  3,948
  4,180
  4,426
  4,686
  4,962
  5,252
  5,559
  5,883
  6,224
  6,584
  6,962
  7,361
  7,781
  8,223
  8,688
  9,177
  9,692
  10,233
  10,801
Total liabilities, $m
  3,547
  3,579
  3,684
  3,799
  3,926
  4,063
  4,210
  4,370
  4,540
  4,722
  4,916
  5,122
  5,342
  5,574
  5,820
  6,080
  6,356
  6,646
  6,953
  7,277
  7,618
  7,978
  8,356
  8,755
  9,175
  9,617
  10,082
  10,571
  11,086
  11,627
  12,195
Total equity, $m
  1,057
  1,087
  1,119
  1,154
  1,192
  1,234
  1,279
  1,327
  1,379
  1,434
  1,493
  1,556
  1,623
  1,693
  1,768
  1,847
  1,931
  2,019
  2,112
  2,211
  2,314
  2,423
  2,539
  2,660
  2,787
  2,922
  3,063
  3,211
  3,368
  3,532
  3,705
Total liabilities and equity, $m
  4,604
  4,666
  4,803
  4,953
  5,118
  5,297
  5,489
  5,697
  5,919
  6,156
  6,409
  6,678
  6,965
  7,267
  7,588
  7,927
  8,287
  8,665
  9,065
  9,488
  9,932
  10,401
  10,895
  11,415
  11,962
  12,539
  13,145
  13,782
  14,454
  15,159
  15,900
Debt-to-equity ratio
  2.036
  2.010
  2.050
  2.080
  2.120
  2.160
  2.200
  2.240
  2.280
  2.320
  2.360
  2.400
  2.430
  2.470
  2.500
  2.540
  2.570
  2.600
  2.630
  2.660
  2.690
  2.720
  2.740
  2.770
  2.790
  2.810
  2.840
  2.860
  2.880
  2.900
  2.920
Adjusted equity ratio
  0.228
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233
  0.233

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  228
  281
  291
  302
  314
  327
  341
  357
  373
  390
  409
  520
  541
  563
  587
  611
  637
  665
  694
  725
  757
  791
  827
  865
  905
  947
  991
  1,037
  1,086
  1,137
  1,191
Depreciation, amort., depletion, $m
  299
  321
  326
  333
  339
  347
  355
  364
  373
  383
  393
  279
  290
  303
  316
  331
  346
  361
  378
  396
  414
  434
  454
  476
  499
  523
  548
  575
  603
  632
  663
Funds from operations, $m
  680
  602
  617
  635
  654
  674
  696
  720
  746
  773
  802
  799
  832
  866
  903
  942
  983
  1,026
  1,072
  1,121
  1,172
  1,225
  1,282
  1,341
  1,404
  1,470
  1,539
  1,612
  1,689
  1,770
  1,855
Change in working capital, $m
  39
  9
  10
  11
  12
  13
  14
  15
  17
  18
  19
  20
  21
  23
  24
  25
  27
  28
  30
  32
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  55
Cash from operations, $m
  641
  592
  607
  623
  641
  661
  682
  705
  729
  755
  783
  779
  810
  844
  879
  917
  956
  998
  1,042
  1,089
  1,138
  1,190
  1,245
  1,302
  1,363
  1,427
  1,494
  1,565
  1,639
  1,717
  1,799
Maintenance CAPEX, $m
  0
  -190
  -195
  -200
  -207
  -213
  -221
  -229
  -238
  -247
  -257
  -267
  -279
  -290
  -303
  -316
  -331
  -346
  -361
  -378
  -396
  -414
  -434
  -454
  -476
  -499
  -523
  -548
  -575
  -603
  -632
New CAPEX, $m
  -295
  -56
  -63
  -69
  -76
  -82
  -89
  -95
  -102
  -109
  -116
  -123
  -131
  -139
  -147
  -156
  -165
  -174
  -184
  -194
  -204
  -215
  -227
  -239
  -251
  -264
  -278
  -293
  -308
  -324
  -340
Cash from investing activities, $m
  -633
  -246
  -258
  -269
  -283
  -295
  -310
  -324
  -340
  -356
  -373
  -390
  -410
  -429
  -450
  -472
  -496
  -520
  -545
  -572
  -600
  -629
  -661
  -693
  -727
  -763
  -801
  -841
  -883
  -927
  -972
Free cash flow, $m
  8
  347
  350
  354
  359
  365
  373
  381
  390
  399
  410
  388
  401
  414
  429
  444
  461
  479
  497
  517
  538
  561
  584
  609
  636
  664
  693
  724
  756
  791
  827
Issuance/(repayment) of debt, $m
  239
  92
  105
  116
  126
  137
  148
  159
  170
  182
  194
  206
  219
  232
  246
  260
  275
  291
  307
  324
  341
  360
  379
  399
  420
  442
  465
  489
  514
  541
  569
Issuance/(repurchase) of shares, $m
  -176
  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 from financing (excl. dividends), $m  
  61
  92
  105
  116
  126
  137
  148
  159
  170
  182
  194
  206
  219
  232
  246
  260
  275
  291
  307
  324
  341
  360
  379
  399
  420
  442
  465
  489
  514
  541
  569
Total cash flow (excl. dividends), $m
  68
  438
  455
  470
  486
  502
  521
  540
  560
  581
  604
  594
  620
  647
  675
  705
  736
  769
  804
  841
  880
  920
  963
  1,008
  1,056
  1,105
  1,158
  1,213
  1,271
  1,332
  1,395
Retained Cash Flow (-), $m
  45
  -30
  -32
  -35
  -38
  -42
  -45
  -48
  -52
  -55
  -59
  -63
  -67
  -71
  -75
  -79
  -84
  -88
  -93
  -98
  -104
  -109
  -115
  -121
  -128
  -134
  -141
  -149
  -156
  -164
  -173
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
 
  408
  423
  434
  447
  461
  476
  491
  508
  526
  545
  532
  553
  576
  600
  626
  653
  681
  711
  743
  776
  811
  848
  887
  928
  971
  1,017
  1,064
  1,114
  1,167
  1,223
Discount rate, %
 
  8.50
  8.93
  9.37
  9.84
  10.33
  10.85
  11.39
  11.96
  12.56
  13.19
  13.85
  14.54
  15.26
  16.03
  16.83
  17.67
  18.55
  19.48
  20.46
  21.48
  22.55
  23.68
  24.86
  26.11
  27.41
  28.78
  30.22
  31.73
  33.32
  34.99
PV of cash for distribution, $m
 
  376
  356
  332
  307
  282
  256
  231
  206
  181
  158
  128
  109
  91
  75
  61
  48
  38
  29
  22
  16
  11
  8
  5
  4
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100
  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
  100.0

Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard folding cartons primarily to consumer packaged goods companies serving the food, beverage, and consumer product markets. It also manufactures corrugated medium; offers various laminated, coated, and printed packaging structures that are produced from its CUK and CRB, as well as other grades of paperboard that are purchased from third-party suppliers; designs and manufactures specialized packaging machines that package bottles and cans, and non-beverage consumer products; and installs its packaging machines at customer plants and provides support, service, and performance monitoring of the machines. The company markets its products primarily through sales offices and broker arrangements with third parties in the Americas, Europe, and the Asia Pacific. Graphic Packaging Holding Company was founded in 1992 and is headquartered in Atlanta, Georgia.

FINANCIAL RATIOS  of  Graphic Packaging Holding (GPK)

Valuation Ratios
P/E Ratio 18.9
Price to Sales 1
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 6.7
Price to Free Cash Flow 12.5
Growth Rates
Sales Growth Rate 3.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.9%
Cap. Spend. - 3 Yr. Gr. Rate 7.1%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 197.6%
Total Debt to Equity 203.6%
Interest Coverage 6
Management Effectiveness
Return On Assets 6.2%
Ret/ On Assets - 3 Yr. Avg. 5%
Return On Total Capital 7.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6%
Return On Equity 21.1%
Return On Equity - 3 Yr. Avg. 17.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 18.4%
Gross Margin - 3 Yr. Avg. 18.8%
EBITDA Margin 15.9%
EBITDA Margin - 3 Yr. Avg. 14.2%
Operating Margin 9.2%
Oper. Margin - 3 Yr. Avg. 8.2%
Pre-Tax Margin 7.4%
Pre-Tax Margin - 3 Yr. Avg. 6.4%
Net Profit Margin 5.3%
Net Profit Margin - 3 Yr. Avg. 4.3%
Effective Tax Rate 29.2%
Eff/ Tax Rate - 3 Yr. Avg. 33.3%
Payout Ratio 28.1%

GPK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GPK stock intrinsic value calculation we used $4298 million for the last fiscal year's total revenue generated by Graphic Packaging Holding. The default revenue input number comes from 2016 income statement of Graphic Packaging Holding. 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 GPK stock valuation model: a) initial revenue growth rate of 2.7% 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 8.5%, whose default value for GPK is calculated based on our internal credit rating of Graphic Packaging Holding, 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 Graphic Packaging Holding.
    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 GPK stock the variable cost ratio is equal to 89.7%.

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 GPK 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 Graphic Packaging Holding.

Corporate tax rate of 27% is the nominal tax rate for Graphic Packaging Holding. 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 GPK 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 GPK are equal to 48.5%.

Life of production assets of 11 years is the average useful life of capital assets used in Graphic Packaging Holding 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 GPK is equal to 7.9%. 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 - $1057 million for Graphic Packaging Holding - 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 307.407 million for Graphic Packaging Holding 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 Graphic Packaging Holding at the current share price and the inputted number of shares is $4.2 billion.

RELATED COMPANIES Price Int.Val. Rating
WRK WestRock 57.30 27.79  str.sell
MPSX Multi Packagin 17.99 6.73  str.sell

COMPANY NEWS

▶ Graphic Packaging Declares Quarterly Dividend   [Jul-28-17 05:00PM  PR Newswire]
▶ Graphic Packaging matches Street 2Q forecasts   [Jul-25-17 09:48PM  Associated Press]
▶ Graphic Packaging tops Street 1Q forecasts   [Apr-25-17 06:46AM  Associated Press]
▶ Graphic Packaging Declares Quarterly Dividend   [Mar-13-17 05:00PM  PR Newswire]
▶ Is Juno Therapeutics Inc (JUNO) A Good Stock To Buy?   [Dec-05-16 07:54AM  at Insider Monkey]
▶ Hedge Funds Are Selling Graphic Packaging Holding Company (GPK)   [Nov-25-16 05:03PM  at Insider Monkey]
▶ Why Do Hedge Funds Like Graphic Packaging Holding Company (GPK)?   [Sep-01-16 11:24AM  at Insider Monkey]
▶ Five Consumer Durable Stocks Hedge Funds Are Bullish On   [Aug-29-16 11:38AM  at Insider Monkey]
Stock chart of GPK Financial statements of GPK
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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