Intrinsic value of Tredegar - TG

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$16.15

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$16.15

 
Intrinsic value

$1.46

 
Up/down potential

-91%

 
Rating

str. sell

 
Value-price divergence* premium content

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

We calculate the intrinsic value of TG 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 0.5

 

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, %
  -5.14
  7.70
  7.43
  7.19
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.05
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
  5.16
  5.14
  5.13
Revenue, $m
  831
  895
  961
  1,031
  1,102
  1,177
  1,255
  1,335
  1,419
  1,507
  1,598
  1,693
  1,792
  1,895
  2,003
  2,115
  2,233
  2,356
  2,484
  2,619
  2,759
  2,906
  3,060
  3,221
  3,390
  3,567
  3,752
  3,946
  4,149
  4,363
  4,586
Variable operating expenses, $m
 
  915
  982
  1,051
  1,124
  1,199
  1,278
  1,359
  1,444
  1,532
  1,624
  1,708
  1,808
  1,912
  2,021
  2,134
  2,253
  2,377
  2,506
  2,642
  2,783
  2,932
  3,087
  3,249
  3,420
  3,598
  3,785
  3,981
  4,186
  4,401
  4,627
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
  799
  915
  982
  1,051
  1,124
  1,199
  1,278
  1,359
  1,444
  1,532
  1,624
  1,708
  1,808
  1,912
  2,021
  2,134
  2,253
  2,377
  2,506
  2,642
  2,783
  2,932
  3,087
  3,249
  3,420
  3,598
  3,785
  3,981
  4,186
  4,401
  4,627
Operating income, $m
  31
  -20
  -20
  -21
  -22
  -22
  -23
  -24
  -24
  -25
  -26
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -26
  -27
  -28
  -30
  -31
  -33
  -35
  -37
  -38
  -40
EBITDA, $m
  63
  16
  18
  19
  20
  21
  23
  24
  26
  27
  29
  31
  33
  35
  37
  39
  41
  43
  45
  48
  50
  53
  56
  59
  62
  65
  68
  72
  76
  80
  84
Interest expense (income), $m
  3
  3
  4
  5
  6
  7
  8
  9
  11
  12
  13
  14
  16
  17
  19
  20
  22
  23
  25
  27
  29
  31
  33
  35
  38
  40
  43
  45
  48
  51
  54
Earnings before tax, $m
  28
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -39
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -67
  -71
  -76
  -80
  -85
  -89
  -94
Tax expense, $m
  4
  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
Net income, $m
  24
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -39
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -67
  -71
  -76
  -80
  -85
  -89
  -94

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  30
  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
  651
  669
  719
  770
  824
  880
  938
  998
  1,061
  1,126
  1,194
  1,265
  1,339
  1,416
  1,497
  1,581
  1,669
  1,761
  1,857
  1,957
  2,062
  2,172
  2,287
  2,407
  2,533
  2,666
  2,804
  2,949
  3,101
  3,261
  3,428
Adjusted assets (=assets-cash), $m
  621
  669
  719
  770
  824
  880
  938
  998
  1,061
  1,126
  1,194
  1,265
  1,339
  1,416
  1,497
  1,581
  1,669
  1,761
  1,857
  1,957
  2,062
  2,172
  2,287
  2,407
  2,533
  2,666
  2,804
  2,949
  3,101
  3,261
  3,428
Revenue / Adjusted assets
  1.338
  1.338
  1.337
  1.339
  1.337
  1.338
  1.338
  1.338
  1.337
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
  1.338
Average production assets, $m
  281
  303
  325
  348
  373
  398
  424
  451
  480
  509
  540
  572
  606
  641
  677
  715
  755
  796
  840
  885
  933
  982
  1,034
  1,089
  1,146
  1,205
  1,268
  1,334
  1,403
  1,475
  1,550
Working capital, $m
  88
  63
  67
  72
  77
  82
  88
  93
  99
  105
  112
  119
  125
  133
  140
  148
  156
  165
  174
  183
  193
  203
  214
  225
  237
  250
  263
  276
  290
  305
  321
Total debt, $m
  95
  122
  149
  177
  207
  237
  269
  302
  336
  372
  409
  448
  489
  531
  575
  621
  670
  720
  772
  827
  885
  945
  1,008
  1,074
  1,143
  1,216
  1,292
  1,371
  1,454
  1,542
  1,633
Total liabilities, $m
  340
  367
  394
  422
  452
  482
  514
  547
  581
  617
  654
  693
  734
  776
  820
  866
  915
  965
  1,017
  1,072
  1,130
  1,190
  1,253
  1,319
  1,388
  1,461
  1,537
  1,616
  1,699
  1,787
  1,878
Total equity, $m
  311
  302
  325
  348
  372
  398
  424
  451
  480
  509
  540
  572
  605
  640
  677
  715
  754
  796
  839
  885
  932
  982
  1,034
  1,088
  1,145
  1,205
  1,267
  1,333
  1,402
  1,474
  1,549
Total liabilities and equity, $m
  651
  669
  719
  770
  824
  880
  938
  998
  1,061
  1,126
  1,194
  1,265
  1,339
  1,416
  1,497
  1,581
  1,669
  1,761
  1,856
  1,957
  2,062
  2,172
  2,287
  2,407
  2,533
  2,666
  2,804
  2,949
  3,101
  3,261
  3,427
Debt-to-equity ratio
  0.305
  0.400
  0.460
  0.510
  0.550
  0.600
  0.630
  0.670
  0.700
  0.730
  0.760
  0.780
  0.810
  0.830
  0.850
  0.870
  0.890
  0.900
  0.920
  0.940
  0.950
  0.960
  0.980
  0.990
  1.000
  1.010
  1.020
  1.030
  1.040
  1.050
  1.050
Adjusted equity ratio
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452
  0.452

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  24
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -39
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -67
  -71
  -76
  -80
  -85
  -89
  -94
Depreciation, amort., depletion, $m
  32
  36
  38
  40
  42
  44
  46
  48
  50
  53
  55
  46
  48
  51
  54
  57
  60
  64
  67
  71
  75
  79
  83
  87
  92
  96
  101
  107
  112
  118
  124
Funds from operations, $m
  44
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  17
  17
  17
  18
  18
  19
  20
  20
  21
  21
  22
  23
  23
  24
  25
  26
  27
  28
  29
  30
Change in working capital, $m
  -5
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
Cash from operations, $m
  49
  23
  9
  9
  9
  9
  9
  9
  9
  10
  10
  10
  10
  10
  10
  11
  11
  11
  11
  11
  12
  12
  12
  12
  12
  13
  13
  13
  13
  14
  14
Maintenance CAPEX, $m
  0
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -38
  -41
  -43
  -46
  -48
  -51
  -54
  -57
  -60
  -64
  -67
  -71
  -75
  -79
  -83
  -87
  -92
  -96
  -101
  -107
  -112
  -118
New CAPEX, $m
  -45
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -43
  -45
  -47
  -50
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
Cash from investing activities, $m
  -42
  -44
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -72
  -75
  -79
  -83
  -87
  -92
  -97
  -102
  -107
  -112
  -118
  -125
  -131
  -137
  -144
  -152
  -159
  -167
  -176
  -184
  -194
Free cash flow, $m
  7
  -21
  -38
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -62
  -65
  -69
  -73
  -77
  -82
  -86
  -91
  -96
  -101
  -107
  -113
  -119
  -125
  -132
  -139
  -146
  -154
  -162
  -171
  -180
Issuance/(repayment) of debt, $m
  -9
  27
  27
  28
  29
  31
  32
  33
  34
  36
  37
  39
  41
  42
  44
  46
  48
  50
  53
  55
  58
  60
  63
  66
  69
  72
  76
  80
  83
  87
  92
Issuance/(repurchase) of shares, $m
  2
  0
  33
  36
  38
  41
  43
  46
  49
  52
  55
  59
  62
  66
  70
  74
  78
  82
  87
  92
  97
  102
  108
  113
  120
  126
  133
  140
  147
  155
  163
Cash from financing (excl. dividends), $m  
  -10
  27
  60
  64
  67
  72
  75
  79
  83
  88
  92
  98
  103
  108
  114
  120
  126
  132
  140
  147
  155
  162
  171
  179
  189
  198
  209
  220
  230
  242
  255
Total cash flow (excl. dividends), $m
  -1
  5
  -11
  -12
  -14
  -15
  -17
  -19
  -21
  -23
  -24
  -27
  -29
  -31
  -33
  -36
  -38
  -41
  -43
  -46
  -49
  -52
  -56
  -59
  -63
  -66
  -70
  -74
  -79
  -83
  -88
Retained Cash Flow (-), $m
  -38
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -41
  -43
  -45
  -47
  -50
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -72
  -76
Prev. year cash balance distribution, $m
 
  30
  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
 
  14
  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
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  13
  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
Current shareholders' claim on cash, %
  100
  100.0
  94.0
  88.3
  83.0
  78.1
  73.4
  69.0
  64.9
  61.0
  57.4
  54.0
  50.8
  47.8
  44.9
  42.2
  39.7
  37.3
  35.1
  33.0
  31.0
  29.2
  27.4
  25.8
  24.2
  22.8
  21.4
  20.1
  18.9
  17.7
  16.7

Tredegar Corporation, through its subsidiaries, manufactures and sells polyethylene (PE) plastic films, polyester films, and aluminum extrusions worldwide. It operates through PE Films, Flexible Packaging Films, and Aluminum Extrusions segments. The PE Films segment offers personal care materials, such as apertured films and laminate materials for use in feminine hygiene products, baby diapers, and adult incontinence products under the ComfortAire, ComfortFeel, and FreshFeel brands; breathable, embossed, and elastic materials for use as components for baby diapers, adult incontinence products, and feminine hygiene products under the ExtraFlex, FabriFlex, FlexAire, and FlexFeel brands; and absorbent transfer layers for baby diapers and adult incontinence products under the AquiDry and AquiDry Plus brands. This segment also provides thin-gauge films for bathroom tissue and paper towels; polypropylene films for industrial applications, such as tape and automotive protection; single- and multi-layer surface protection films for protecting components of flat panel displays used in televisions, monitors, notebooks, smart phones, tablets, e-readers, and digital signage under the UltraMask, ForceField, and ForceField PEARL brands; and specialty films and film-based products for use in light-emitting diode and fluorescent lighting markets. The Flexible Packaging Films segment offers polyester-based films for food packaging and industrial applications under the Terphane and Sealphane brands. The Aluminum Extrusions segment produces soft-alloy and medium-strength aluminum extrusions primarily for building and construction, automotive, consumer durables, machinery and equipment, electrical, and distribution markets; and manufactures mill, anodized, and painted and fabricated aluminum extrusions to fabricators and distributors. Tredegar Corporation was founded in 1988 and is headquartered in Richmond, Virginia.

FINANCIAL RATIOS  of  Tredegar (TG)

Valuation Ratios
P/E Ratio 22.2
Price to Sales 0.6
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow 10.9
Price to Free Cash Flow 133
Growth Rates
Sales Growth Rate -5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 36.4%
Cap. Spend. - 3 Yr. Gr. Rate -10.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 30.5%
Total Debt to Equity 30.5%
Interest Coverage 10
Management Effectiveness
Return On Assets 4.2%
Ret/ On Assets - 3 Yr. Avg. 1.8%
Return On Total Capital 6.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity 8.2%
Return On Equity - 3 Yr. Avg. 2.6%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 16%
Gross Margin - 3 Yr. Avg. 14.8%
EBITDA Margin 7.6%
EBITDA Margin - 3 Yr. Avg. 6.2%
Operating Margin 3.9%
Oper. Margin - 3 Yr. Avg. 2.2%
Pre-Tax Margin 3.4%
Pre-Tax Margin - 3 Yr. Avg. 1.8%
Net Profit Margin 2.9%
Net Profit Margin - 3 Yr. Avg. 1.1%
Effective Tax Rate 14.3%
Eff/ Tax Rate - 3 Yr. Avg. -1.6%
Payout Ratio 58.3%

TG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TG stock intrinsic value calculation we used $831 million for the last fiscal year's total revenue generated by Tredegar. The default revenue input number comes from 2016 income statement of Tredegar. 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 TG stock valuation model: a) initial revenue growth rate of 7.7% 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 4.3%, whose default value for TG is calculated based on our internal credit rating of Tredegar, 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 Tredegar.
    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 TG stock the variable cost ratio is equal to 102.3%.

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 TG 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 Tredegar.

Corporate tax rate of 27% is the nominal tax rate for Tredegar. 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 TG 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 TG are equal to 33.8%.

Life of production assets of 12.5 years is the average useful life of capital assets used in Tredegar 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 TG is equal to 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 - $311 million for Tredegar - 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 33.032 million for Tredegar 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 Tredegar at the current share price and the inputted number of shares is $0.5 billion.


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COMPANY NEWS

▶ Tredegar Board Declares Dividend   [May-17-17 04:15PM  Business Wire]
▶ ETFs with exposure to Tredegar Corp. : May 9, 2017   [May-09-17 05:06PM  Capital Cube]
▶ Tredegar posts 1Q profit   [May-02-17 07:31PM  Associated Press]
▶ Tredegar Reports First-Quarter 2017 Results   [04:36PM  Business Wire]
▶ Tredegar posts 4Q profit   [Feb-22-17 06:50PM  Associated Press]
▶ Tredegar Board Declares Dividend   [Feb-21-17 02:38PM  Business Wire]
▶ Should You Avoid Tredegar Corporation (TG)?   [Dec-20-16 04:22PM  at Insider Monkey]
▶ Tredegar Board Declares Dividend   [Nov-02-16 03:34PM  Business Wire]
▶ Tredegar Reports Third-Quarter 2016 Results   [04:49PM  Business Wire]
▶ Tredegar Board Declares Dividend   [Aug-03-16 02:36PM  Business Wire]
▶ Tredegar Reports Second-Quarter 2016 Results   [04:15PM  Business Wire]
▶ Tredegar Board Declares Dividend   [May-04-16 02:22PM  Business Wire]
▶ Tredegar Reports First-Quarter 2016 Results   [04:39PM  Business Wire]
▶ Tredegar Completes New Credit Facility   [11:41AM  Business Wire]
▶ Tredegar Board Declares Dividend   [Feb-26-16 01:13PM  Business Wire]
▶ Hedge Funds Are Dumping Tredegar Corporation (TG)   [Dec-07  04:27PM  at Insider Monkey]
▶ Tredegar Reports Third-Quarter 2015 Results   [08:00AM  Business Wire]
▶ Tredegar Board Declares Dividend   [Nov-04  01:14PM  Business Wire]
Stock chart of TG Financial statements of TG Annual reports of TG
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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