Intrinsic value of Silgan Holdings - SLGN

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$32.00

  Intrinsic Value

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  Value-price divergence*

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

We calculate the intrinsic value of SLGN 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 1.8

 

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, %
  -4.01
  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
  3,613
  3,685
  3,770
  3,867
  3,976
  4,096
  4,228
  4,372
  4,528
  4,696
  4,877
  5,069
  5,275
  5,494
  5,727
  5,974
  6,236
  6,513
  6,806
  7,116
  7,443
  7,788
  8,151
  8,535
  8,939
  9,364
  9,813
  10,284
  10,780
  11,302
  11,852
Variable operating expenses, $m
 
  3,195
  3,269
  3,353
  3,447
  3,551
  3,666
  3,791
  3,926
  4,072
  4,228
  4,395
  4,573
  4,763
  4,965
  5,179
  5,406
  5,647
  5,901
  6,169
  6,453
  6,752
  7,067
  7,400
  7,750
  8,119
  8,507
  8,916
  9,347
  9,799
  10,275
Fixed operating expenses, $m
 
  188
  192
  197
  202
  207
  212
  218
  223
  229
  234
  240
  246
  252
  259
  265
  272
  278
  285
  293
  300
  307
  315
  323
  331
  339
  348
  356
  365
  374
  384
Total operating expenses, $m
  3,313
  3,383
  3,461
  3,550
  3,649
  3,758
  3,878
  4,009
  4,149
  4,301
  4,462
  4,635
  4,819
  5,015
  5,224
  5,444
  5,678
  5,925
  6,186
  6,462
  6,753
  7,059
  7,382
  7,723
  8,081
  8,458
  8,855
  9,272
  9,712
  10,173
  10,659
Operating income, $m
  300
  303
  309
  317
  327
  338
  350
  364
  379
  396
  414
  434
  455
  478
  503
  530
  558
  588
  620
  654
  690
  728
  769
  812
  858
  906
  957
  1,011
  1,068
  1,129
  1,192
EBITDA, $m
  443
  405
  414
  424
  437
  451
  467
  485
  505
  526
  550
  575
  602
  631
  662
  695
  731
  768
  808
  851
  896
  944
  995
  1,049
  1,106
  1,166
  1,229
  1,296
  1,367
  1,442
  1,521
Interest expense (income), $m
  65
  76
  78
  80
  83
  86
  89
  92
  96
  100
  104
  109
  114
  119
  125
  131
  137
  144
  151
  158
  166
  175
  184
  193
  203
  213
  224
  236
  248
  261
  274
Earnings before tax, $m
  232
  226
  231
  237
  244
  252
  261
  272
  283
  296
  310
  325
  342
  359
  378
  399
  421
  444
  469
  495
  524
  554
  585
  619
  655
  693
  733
  776
  821
  868
  918
Tax expense, $m
  79
  61
  62
  64
  66
  68
  71
  73
  77
  80
  84
  88
  92
  97
  102
  108
  114
  120
  127
  134
  141
  149
  158
  167
  177
  187
  198
  209
  222
  234
  248
Net income, $m
  153
  165
  169
  173
  178
  184
  191
  198
  207
  216
  226
  237
  249
  262
  276
  291
  307
  324
  342
  362
  382
  404
  427
  452
  478
  506
  535
  566
  599
  634
  670

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  25
  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
  3,149
  3,185
  3,258
  3,342
  3,436
  3,540
  3,655
  3,779
  3,914
  4,059
  4,215
  4,381
  4,559
  4,749
  4,950
  5,163
  5,390
  5,629
  5,882
  6,150
  6,433
  6,731
  7,045
  7,377
  7,726
  8,094
  8,481
  8,889
  9,318
  9,769
  10,243
Adjusted assets (=assets-cash), $m
  3,124
  3,185
  3,258
  3,342
  3,436
  3,540
  3,655
  3,779
  3,914
  4,059
  4,215
  4,381
  4,559
  4,749
  4,950
  5,163
  5,390
  5,629
  5,882
  6,150
  6,433
  6,731
  7,045
  7,377
  7,726
  8,094
  8,481
  8,889
  9,318
  9,769
  10,243
Revenue / Adjusted assets
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
  1.157
Average production assets, $m
  1,329
  674
  690
  708
  728
  750
  774
  800
  829
  859
  892
  928
  965
  1,005
  1,048
  1,093
  1,141
  1,192
  1,245
  1,302
  1,362
  1,425
  1,492
  1,562
  1,636
  1,714
  1,796
  1,882
  1,973
  2,068
  2,169
Working capital, $m
  100
  954
  976
  1,002
  1,030
  1,061
  1,095
  1,132
  1,173
  1,216
  1,263
  1,313
  1,366
  1,423
  1,483
  1,547
  1,615
  1,687
  1,763
  1,843
  1,928
  2,017
  2,111
  2,211
  2,315
  2,425
  2,541
  2,664
  2,792
  2,927
  3,070
Total debt, $m
  1,562
  2,233
  2,296
  2,367
  2,447
  2,535
  2,632
  2,738
  2,853
  2,976
  3,109
  3,250
  3,401
  3,562
  3,733
  3,915
  4,107
  4,311
  4,526
  4,754
  4,994
  5,247
  5,514
  5,796
  6,093
  6,406
  6,735
  7,081
  7,446
  7,829
  8,233
Total liabilities, $m
  2,680
  2,707
  2,770
  2,841
  2,921
  3,009
  3,106
  3,212
  3,327
  3,450
  3,583
  3,724
  3,875
  4,036
  4,207
  4,389
  4,581
  4,785
  5,000
  5,228
  5,468
  5,721
  5,988
  6,270
  6,567
  6,880
  7,209
  7,555
  7,920
  8,303
  8,707
Total equity, $m
  469
  478
  489
  501
  515
  531
  548
  567
  587
  609
  632
  657
  684
  712
  742
  775
  808
  844
  882
  923
  965
  1,010
  1,057
  1,107
  1,159
  1,214
  1,272
  1,333
  1,398
  1,465
  1,537
Total liabilities and equity, $m
  3,149
  3,185
  3,259
  3,342
  3,436
  3,540
  3,654
  3,779
  3,914
  4,059
  4,215
  4,381
  4,559
  4,748
  4,949
  5,164
  5,389
  5,629
  5,882
  6,151
  6,433
  6,731
  7,045
  7,377
  7,726
  8,094
  8,481
  8,888
  9,318
  9,768
  10,244
Debt-to-equity ratio
  3.330
  4.670
  4.700
  4.720
  4.750
  4.770
  4.800
  4.830
  4.860
  4.890
  4.920
  4.950
  4.970
  5.000
  5.030
  5.050
  5.080
  5.110
  5.130
  5.150
  5.180
  5.200
  5.220
  5.240
  5.260
  5.280
  5.290
  5.310
  5.330
  5.340
  5.360
Adjusted equity ratio
  0.142
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  153
  165
  169
  173
  178
  184
  191
  198
  207
  216
  226
  237
  249
  262
  276
  291
  307
  324
  342
  362
  382
  404
  427
  452
  478
  506
  535
  566
  599
  634
  670
Depreciation, amort., depletion, $m
  143
  102
  105
  107
  110
  114
  117
  121
  126
  130
  135
  141
  146
  152
  159
  166
  173
  181
  189
  197
  206
  216
  226
  237
  248
  260
  272
  285
  299
  313
  329
Funds from operations, $m
  412
  267
  273
  280
  288
  298
  308
  320
  332
  346
  362
  378
  396
  415
  435
  457
  480
  505
  531
  559
  589
  620
  653
  689
  726
  766
  807
  851
  898
  947
  999
Change in working capital, $m
  17
  19
  22
  25
  28
  31
  34
  37
  40
  43
  47
  50
  53
  57
  60
  64
  68
  72
  76
  80
  85
  89
  94
  99
  105
  110
  116
  122
  129
  135
  142
Cash from operations, $m
  395
  -411
  251
  255
  260
  266
  274
  282
  292
  303
  315
  328
  342
  358
  375
  393
  412
  433
  455
  479
  504
  531
  559
  589
  621
  655
  691
  729
  769
  812
  857
Maintenance CAPEX, $m
  0
  -100
  -102
  -105
  -107
  -110
  -114
  -117
  -121
  -126
  -130
  -135
  -141
  -146
  -152
  -159
  -166
  -173
  -181
  -189
  -197
  -206
  -216
  -226
  -237
  -248
  -260
  -272
  -285
  -299
  -313
New CAPEX, $m
  -192
  -14
  -16
  -18
  -20
  -22
  -24
  -26
  -29
  -31
  -33
  -35
  -38
  -40
  -43
  -45
  -48
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -91
  -96
  -100
Cash from investing activities, $m
  -180
  -114
  -118
  -123
  -127
  -132
  -138
  -143
  -150
  -157
  -163
  -170
  -179
  -186
  -195
  -204
  -214
  -224
  -235
  -246
  -257
  -269
  -283
  -296
  -311
  -326
  -342
  -358
  -376
  -395
  -413
Free cash flow, $m
  215
  -526
  134
  133
  133
  134
  136
  139
  142
  147
  152
  158
  164
  172
  180
  189
  199
  209
  221
  233
  247
  261
  277
  293
  311
  330
  350
  371
  393
  417
  443
Issuance/(repayment) of debt, $m
  55
  52
  62
  71
  80
  89
  97
  106
  115
  123
  132
  142
  151
  161
  171
  181
  192
  204
  215
  227
  240
  253
  267
  282
  297
  313
  329
  346
  365
  384
  403
Issuance/(repurchase) of shares, $m
  -281
  482
  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  
  -248
  534
  62
  71
  80
  89
  97
  106
  115
  123
  132
  142
  151
  161
  171
  181
  192
  204
  215
  227
  240
  253
  267
  282
  297
  313
  329
  346
  365
  384
  403
Total cash flow (excl. dividends), $m
  -34
  -473
  196
  204
  213
  223
  233
  245
  257
  270
  284
  299
  315
  333
  351
  370
  391
  413
  436
  461
  487
  515
  544
  575
  608
  642
  679
  717
  758
  801
  846
Retained Cash Flow (-), $m
  170
  -9
  -11
  -13
  -14
  -16
  -17
  -19
  -20
  -22
  -23
  -25
  -27
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -50
  -52
  -55
  -58
  -61
  -64
  -68
  -71
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
 
  0
  185
  191
  199
  207
  216
  226
  237
  248
  261
  274
  289
  304
  321
  338
  357
  377
  398
  421
  445
  470
  497
  525
  555
  587
  621
  656
  694
  733
  775
Discount rate, %
 
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.84
  17.69
  18.57
  19.50
  20.47
  21.50
  22.57
  23.70
  24.88
  26.13
  27.44
  28.81
  30.25
  31.76
  33.35
  35.02
  36.77
  38.60
  40.53
  42.56
  44.69
  46.92
PV of cash for distribution, $m
 
  0
  147
  134
  121
  108
  96
  84
  72
  61
  51
  42
  34
  27
  21
  16
  12
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5
  78.5

Silgan Holdings Inc., together with its subsidiaries, manufactures and sells rigid packaging for shelf-stable food and other consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, including soups, vegetables, fruits, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals. The Closures segment offers a range of metal, composite, and plastic closures for food and beverage products, such as juices and juice drinks, ready-to-drink teas, sports and energy drinks, dairy products, ketchup, salsa, pickles, tomato sauce, soups, cooking sauces, gravies, fruits, vegetables, preserves, baby food, baby juices, and infant formula products. The Plastic Containers segment manufactures and sells custom designed plastic containers and closures for personal care, food, health care, pharmaceutical, household and industrial chemical, pet care, agricultural, automotive, and marine chemical products. This segment also offers plastic thermoformed barrier and non-barrier bowls and trays for food products, such as soups and other ready-to-eat meals, and pet food, as well as thermoformed plastic tubs for personal care and household products, including soft fabric wipes. The company markets its products primarily through direct sales force, as well as through a network of distributors and an online shopping catalog. Silgan Holdings Inc. was founded in 1987 and is headquartered in Stamford, Connecticut.

FINANCIAL RATIOS  of  Silgan Holdings (SLGN)

Valuation Ratios
P/E Ratio 11.5
Price to Sales 0.5
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 4.5
Price to Free Cash Flow 8.7
Growth Rates
Sales Growth Rate -4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -19%
Cap. Spend. - 3 Yr. Gr. Rate 13.3%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 286.8%
Total Debt to Equity 333%
Interest Coverage 5
Management Effectiveness
Return On Assets 6.2%
Ret/ On Assets - 3 Yr. Avg. 6.6%
Return On Total Capital 7.3%
Ret/ On T. Cap. - 3 Yr. Avg. 7.6%
Return On Equity 27.6%
Return On Equity - 3 Yr. Avg. 26.2%
Asset Turnover 1.1
Profitability Ratios
Gross Margin 14.8%
Gross Margin - 3 Yr. Avg. 14.9%
EBITDA Margin 12.2%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 8.3%
Oper. Margin - 3 Yr. Avg. 8.7%
Pre-Tax Margin 6.4%
Pre-Tax Margin - 3 Yr. Avg. 6.8%
Net Profit Margin 4.2%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 34.1%
Eff/ Tax Rate - 3 Yr. Avg. 34.1%
Payout Ratio 26.8%

SLGN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SLGN stock intrinsic value calculation we used $3613 million for the last fiscal year's total revenue generated by Silgan Holdings. The default revenue input number comes from 2016 income statement of Silgan Holdings. 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 SLGN 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 11.4%, whose default value for SLGN is calculated based on our internal credit rating of Silgan Holdings, 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 Silgan Holdings.
    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 SLGN stock the variable cost ratio is equal to 86.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $183 million in the base year in the intrinsic value calculation for SLGN 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 Silgan Holdings.

Corporate tax rate of 27% is the nominal tax rate for Silgan Holdings. 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 SLGN 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 SLGN are equal to 18.3%.

Life of production assets of 6.6 years is the average useful life of capital assets used in Silgan Holdings 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 SLGN is equal to 25.9%. 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 - $469 million for Silgan Holdings - 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 55.008 million for Silgan Holdings 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 Silgan Holdings at the current share price and the inputted number of shares is $1.8 billion.


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COMPANY NEWS

▶ Avoid Market Volatility with 5 Low-Beta Stocks   [May-23-17 09:48AM  Zacks]
▶ Silgan beats Street 1Q forecasts   [07:42AM  Associated Press]
▶ Webcast-Q1 Earnings Call for Silgan Holdings, Inc.   [12:14AM  at Company Spotlight]
▶ [$$] Ball Corp.: The Can-Do Can Maker   [Mar-11-17 12:36AM  at Barrons.com]
▶ Dividend Growth Stocks Raising The Bar   [Mar-06-17 09:28AM  Insider Monkey]
▶ Silgan Announces Pricing of New Senior Notes Offerings   [Feb-08-17 03:52PM  Business Wire]
▶ Silgan Announces New Senior Notes Offerings   [04:42PM  Business Wire]
▶ [$$] WestRock Sells Closure-and-Dispensing Business to Silgan   [10:51AM  at The Wall Street Journal]
▶ Is Silgan Holdings Inc. (SLGN) A Good Stock To Buy?   [Dec-13-16 08:39AM  at Insider Monkey]
▶ Silgan Declares Quarterly Dividend   [08:00AM  Business Wire]
▶ Silgan Announces Third Quarter Earnings   [07:00AM  Business Wire]
Stock chart of SLGN Financial statements of SLGN Annual reports of SLGN
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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