Intrinsic value of Sonoco Products - SON

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$51.53

  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 SON 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 5.1

 

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, %
  -3.65
  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
  4,783
  4,879
  4,991
  5,119
  5,263
  5,423
  5,598
  5,788
  5,995
  6,217
  6,456
  6,711
  6,983
  7,273
  7,582
  7,909
  8,255
  8,622
  9,010
  9,420
  9,853
  10,309
  10,791
  11,299
  11,834
  12,397
  12,990
  13,614
  14,271
  14,963
  15,690
Variable operating expenses, $m
 
  4,501
  4,602
  4,717
  4,847
  4,991
  5,148
  5,320
  5,506
  5,706
  5,920
  6,041
  6,286
  6,547
  6,825
  7,119
  7,431
  7,761
  8,110
  8,480
  8,869
  9,280
  9,714
  10,171
  10,652
  11,159
  11,693
  12,255
  12,847
  13,469
  14,123
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
  4,290
  4,501
  4,602
  4,717
  4,847
  4,991
  5,148
  5,320
  5,506
  5,706
  5,920
  6,041
  6,286
  6,547
  6,825
  7,119
  7,431
  7,761
  8,110
  8,480
  8,869
  9,280
  9,714
  10,171
  10,652
  11,159
  11,693
  12,255
  12,847
  13,469
  14,123
Operating income, $m
  493
  378
  389
  402
  416
  432
  450
  469
  489
  511
  535
  670
  697
  726
  757
  790
  824
  861
  899
  940
  984
  1,029
  1,077
  1,128
  1,181
  1,238
  1,297
  1,359
  1,425
  1,494
  1,566
EBITDA, $m
  698
  523
  535
  549
  564
  582
  600
  621
  643
  667
  692
  720
  749
  780
  813
  848
  885
  925
  966
  1,010
  1,057
  1,106
  1,157
  1,212
  1,269
  1,330
  1,393
  1,460
  1,531
  1,605
  1,683
Interest expense (income), $m
  53
  36
  37
  39
  41
  44
  47
  50
  53
  56
  60
  64
  69
  73
  78
  83
  89
  95
  101
  108
  115
  122
  130
  138
  147
  156
  166
  176
  187
  198
  210
Earnings before tax, $m
  441
  342
  352
  363
  375
  388
  403
  419
  436
  455
  475
  606
  629
  653
  679
  706
  735
  766
  798
  832
  869
  907
  947
  990
  1,034
  1,081
  1,131
  1,183
  1,238
  1,296
  1,357
Tax expense, $m
  164
  92
  95
  98
  101
  105
  109
  113
  118
  123
  128
  164
  170
  176
  183
  191
  198
  207
  216
  225
  235
  245
  256
  267
  279
  292
  305
  319
  334
  350
  366
Net income, $m
  286
  250
  257
  265
  274
  283
  294
  306
  319
  332
  347
  442
  459
  477
  495
  515
  537
  559
  583
  608
  634
  662
  691
  722
  755
  789
  826
  864
  904
  946
  990

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  257
  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
  3,923
  3,738
  3,824
  3,923
  4,033
  4,155
  4,289
  4,436
  4,594
  4,764
  4,947
  5,142
  5,351
  5,573
  5,810
  6,060
  6,326
  6,607
  6,904
  7,218
  7,550
  7,900
  8,269
  8,658
  9,068
  9,500
  9,954
  10,433
  10,936
  11,466
  12,023
Adjusted assets (=assets-cash), $m
  3,666
  3,738
  3,824
  3,923
  4,033
  4,155
  4,289
  4,436
  4,594
  4,764
  4,947
  5,142
  5,351
  5,573
  5,810
  6,060
  6,326
  6,607
  6,904
  7,218
  7,550
  7,900
  8,269
  8,658
  9,068
  9,500
  9,954
  10,433
  10,936
  11,466
  12,023
Revenue / Adjusted assets
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
  1.305
Average production assets, $m
  765
  239
  245
  251
  258
  266
  274
  284
  294
  305
  316
  329
  342
  356
  371
  388
  405
  422
  441
  462
  483
  505
  529
  554
  580
  607
  637
  667
  699
  733
  769
Working capital, $m
  546
  327
  334
  343
  353
  363
  375
  388
  402
  417
  433
  450
  468
  487
  508
  530
  553
  578
  604
  631
  660
  691
  723
  757
  793
  831
  870
  912
  956
  1,002
  1,051
Total debt, $m
  1,053
  1,066
  1,121
  1,184
  1,254
  1,332
  1,417
  1,510
  1,611
  1,720
  1,836
  1,961
  2,094
  2,235
  2,386
  2,545
  2,715
  2,894
  3,083
  3,283
  3,494
  3,717
  3,952
  4,200
  4,461
  4,736
  5,026
  5,331
  5,651
  5,989
  6,343
Total liabilities, $m
  2,391
  2,381
  2,436
  2,499
  2,569
  2,647
  2,732
  2,825
  2,926
  3,035
  3,151
  3,276
  3,409
  3,550
  3,701
  3,860
  4,030
  4,209
  4,398
  4,598
  4,809
  5,032
  5,267
  5,515
  5,776
  6,051
  6,341
  6,646
  6,966
  7,304
  7,658
Total equity, $m
  1,532
  1,357
  1,388
  1,424
  1,464
  1,508
  1,557
  1,610
  1,668
  1,729
  1,796
  1,867
  1,942
  2,023
  2,109
  2,200
  2,296
  2,398
  2,506
  2,620
  2,741
  2,868
  3,002
  3,143
  3,292
  3,448
  3,613
  3,787
  3,970
  4,162
  4,364
Total liabilities and equity, $m
  3,923
  3,738
  3,824
  3,923
  4,033
  4,155
  4,289
  4,435
  4,594
  4,764
  4,947
  5,143
  5,351
  5,573
  5,810
  6,060
  6,326
  6,607
  6,904
  7,218
  7,550
  7,900
  8,269
  8,658
  9,068
  9,499
  9,954
  10,433
  10,936
  11,466
  12,022
Debt-to-equity ratio
  0.687
  0.790
  0.810
  0.830
  0.860
  0.880
  0.910
  0.940
  0.970
  0.990
  1.020
  1.050
  1.080
  1.100
  1.130
  1.160
  1.180
  1.210
  1.230
  1.250
  1.280
  1.300
  1.320
  1.340
  1.360
  1.370
  1.390
  1.410
  1.420
  1.440
  1.450
Adjusted equity ratio
  0.348
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363
  0.363

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  286
  250
  257
  265
  274
  283
  294
  306
  319
  332
  347
  442
  459
  477
  495
  515
  537
  559
  583
  608
  634
  662
  691
  722
  755
  789
  826
  864
  904
  946
  990
Depreciation, amort., depletion, $m
  205
  145
  146
  147
  148
  149
  151
  152
  154
  155
  157
  50
  52
  54
  56
  59
  61
  64
  67
  70
  73
  77
  80
  84
  88
  92
  96
  101
  106
  111
  116
Funds from operations, $m
  372
  395
  403
  412
  422
  433
  445
  458
  472
  488
  504
  492
  511
  531
  552
  574
  598
  623
  650
  678
  707
  739
  772
  806
  843
  882
  922
  965
  1,010
  1,057
  1,107
Change in working capital, $m
  -27
  6
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  19
  21
  22
  23
  25
  26
  27
  29
  31
  32
  34
  36
  38
  40
  42
  44
  46
  49
Cash from operations, $m
  399
  379
  395
  403
  412
  422
  433
  445
  458
  473
  488
  475
  492
  511
  531
  552
  575
  598
  624
  650
  678
  708
  739
  772
  807
  844
  882
  923
  966
  1,011
  1,058
Maintenance CAPEX, $m
  0
  -36
  -36
  -37
  -38
  -39
  -40
  -42
  -43
  -45
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -92
  -96
  -101
  -106
  -111
New CAPEX, $m
  -187
  -4
  -5
  -6
  -7
  -8
  -9
  -9
  -10
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -24
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -36
Cash from investing activities, $m
  -3
  -40
  -41
  -43
  -45
  -47
  -49
  -51
  -53
  -56
  -58
  -61
  -63
  -66
  -69
  -72
  -76
  -79
  -83
  -87
  -91
  -95
  -101
  -105
  -110
  -116
  -121
  -127
  -133
  -140
  -147
Free cash flow, $m
  396
  339
  354
  360
  367
  375
  384
  394
  405
  417
  430
  414
  429
  445
  462
  480
  499
  519
  541
  563
  587
  612
  639
  667
  697
  728
  761
  796
  833
  871
  911
Issuance/(repayment) of debt, $m
  -65
  45
  55
  63
  70
  78
  85
  93
  101
  109
  116
  125
  133
  142
  150
  160
  169
  179
  189
  200
  211
  223
  235
  248
  261
  275
  290
  305
  321
  337
  355
Issuance/(repurchase) of shares, $m
  -107
  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  
  -170
  45
  55
  63
  70
  78
  85
  93
  101
  109
  116
  125
  133
  142
  150
  160
  169
  179
  189
  200
  211
  223
  235
  248
  261
  275
  290
  305
  321
  337
  355
Total cash flow (excl. dividends), $m
  221
  384
  409
  423
  437
  453
  470
  487
  506
  526
  547
  539
  562
  587
  612
  640
  668
  698
  730
  763
  798
  835
  874
  915
  958
  1,003
  1,051
  1,101
  1,153
  1,208
  1,266
Retained Cash Flow (-), $m
  -19
  -27
  -31
  -36
  -40
  -44
  -49
  -53
  -57
  -62
  -66
  -71
  -76
  -81
  -86
  -91
  -96
  -102
  -108
  -114
  -120
  -127
  -134
  -141
  -149
  -157
  -165
  -174
  -183
  -192
  -202
Prev. year cash balance distribution, $m
 
  225
  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
 
  582
  377
  387
  397
  409
  421
  434
  449
  464
  480
  468
  486
  506
  527
  549
  572
  596
  622
  649
  678
  708
  740
  774
  809
  847
  886
  927
  970
  1,016
  1,064
Discount rate, %
 
  4.40
  4.62
  4.85
  5.09
  5.35
  5.62
  5.90
  6.19
  6.50
  6.83
  7.17
  7.53
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
PV of cash for distribution, $m
 
  558
  345
  336
  326
  315
  303
  291
  277
  263
  248
  219
  204
  188
  173
  157
  141
  125
  110
  96
  82
  70
  58
  48
  39
  31
  24
  18
  14
  10
  7
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

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. The Consumer Packaging segment offers round composite cans; shaped rigid paperboard containers; fiber caulk/adhesive tubes; aluminum, steel, and peel able membrane easy-open closures for composite and metal cans; plastic bottles, jars, jugs, cups, and trays; and printed flexible packaging, rotogravure cylinder engraving, and global brand management services. The Paper and Industrial Converted Products segment provides recycled paperboard, chipboard, tubeboard, lightweight corestock, boxboard, linerboard, corrugating medium, and specialty grades; and paperboard tubes and cores, molded plugs, and reels. This segment is also involved in the collection, processing, and recycling of old corrugated containers, paper, plastics, metal, glass, and other recyclable materials. The Display and Packaging segment offers point-of-purchase displays; custom packaging products; fulfillment services; primary package filling products; supply chain management; paperboard specialties; and retail packaging products, including printed backer cards, thermoformed blisters, and heat sealing equipment. The Protective Solutions segment provides custom-engineered, paperboard-based, and expanded foam protective packaging and components; and temperature-assured packaging products. The company sells its products in various markets, which include paper, textile, film, food, chemical, packaging, construction, and wire and cable. Sonoco Products Company was founded in 1899 and is headquartered in Hartsville, South Carolina.

FINANCIAL RATIOS  of  Sonoco Products (SON)

Valuation Ratios
P/E Ratio 17.9
Price to Sales 1.1
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 12.8
Price to Free Cash Flow 24.1
Growth Rates
Sales Growth Rate -3.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -2.6%
Cap. Spend. - 3 Yr. Gr. Rate 1.7%
Financial Strength
Quick Ratio 8
Current Ratio 0
LT Debt to Equity 66.6%
Total Debt to Equity 68.7%
Interest Coverage 9
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 10.9%
Ret/ On T. Cap. - 3 Yr. Avg. 9.5%
Return On Equity 18.8%
Return On Equity - 3 Yr. Avg. 16.6%
Asset Turnover 1.2
Profitability Ratios
Gross Margin 19.6%
Gross Margin - 3 Yr. Avg. 18.8%
EBITDA Margin 14.6%
EBITDA Margin - 3 Yr. Avg. 12.7%
Operating Margin 10.3%
Oper. Margin - 3 Yr. Avg. 8.5%
Pre-Tax Margin 9.2%
Pre-Tax Margin - 3 Yr. Avg. 7.4%
Net Profit Margin 6%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 37.2%
Eff/ Tax Rate - 3 Yr. Avg. 32.5%
Payout Ratio 51%

SON stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SON stock intrinsic value calculation we used $4783 million for the last fiscal year's total revenue generated by Sonoco Products. The default revenue input number comes from 2016 income statement of Sonoco Products. 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 SON 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 4.4%, whose default value for SON is calculated based on our internal credit rating of Sonoco Products, 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 Sonoco Products.
    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 SON stock the variable cost ratio is equal to 92.3%.

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 SON 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 Sonoco Products.

Corporate tax rate of 27% is the nominal tax rate for Sonoco Products. 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 SON 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 SON are equal to 4.9%.

Life of production assets of 6.6 years is the average useful life of capital assets used in Sonoco Products 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 SON is equal to 6.7%. 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 - $1555 million for Sonoco Products - 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 99.467 million for Sonoco Products 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 Sonoco Products at the current share price and the inputted number of shares is $5.1 billion.


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COMPANY NEWS

▶ Sonoco to Acquire Clear Lam Packaging, Inc.   [Jun-26-17 08:00AM  GlobeNewswire]
▶ Sonoco IML design wins IMDA Best of Show   [Jun-21-17 06:55AM  GlobeNewswire]
▶ ETFs with exposure to Sonoco Products Co. : May 19, 2017   [May-19-17 02:09PM  Capital Cube]
▶ Sonoco tops 1Q profit forecasts   [Apr-20-17 07:06AM  Associated Press]
▶ Sonoco Reports First Quarter 2017 Results   [06:55AM  GlobeNewswire]
▶ Sonoco Increases Common Stock Dividend by 5.4 Percent   [Apr-19-17 11:44AM  GlobeNewswire]
▶ Sonoco Launches PromoPeel Integrated Label Technology   [Apr-11-17 06:55AM  GlobeNewswire]
▶ Sonoco Issues 2016 Annual Report to Shareholders   [Mar-17-17 08:00AM  GlobeNewswire]
▶ Is iShares MSCI ACWI ETF (ACWI) A Good Stock To Buy?   [Dec-13-16 02:22AM  at Insider Monkey]
▶ Is Sonoco Products Co (SON) A Good Stock To Buy?   [Dec-12-16 05:25PM  at Insider Monkey]
▶ Sonoco investing $20M in packaging center to support Duracell   [Dec-05-16 06:40PM  at bizjournals.com]
▶ Should You Buy Godaddy Inc (GDDY)?   [Nov-30-16 09:34AM  at Insider Monkey]
Stock chart of SON Financial statements of SON Annual reports of SON
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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