Intrinsic value of Greif Cl A - GEF

Previous Close

$56.91

  Intrinsic Value

$36.23

stock screener

  Rating & Target

sell

-36%

  Value-price divergence*

-31%

Previous close

$56.91

 
Intrinsic value

$36.23

 
Up/down potential

-36%

 
Rating

sell

 
Value-price divergence*

-31%

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

We calculate the intrinsic value of GEF 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 2.9

 

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, %
  -8.10
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
Revenue, $m
  3,324
  3,510
  3,705
  3,908
  4,120
  4,343
  4,575
  4,818
  5,073
  5,340
  5,619
  5,912
  6,219
  6,540
  6,877
  7,231
  7,601
  7,990
  8,397
  8,824
  9,273
  9,743
  10,237
  10,755
  11,298
  11,868
  12,467
  13,095
  13,754
  14,446
  15,173
Variable operating expenses, $m
 
  3,320
  3,499
  3,687
  3,883
  4,088
  4,303
  4,528
  4,763
  5,009
  5,267
  5,459
  5,742
  6,039
  6,350
  6,676
  7,018
  7,377
  7,753
  8,148
  8,562
  8,996
  9,452
  9,930
  10,432
  10,959
  11,511
  12,091
  12,700
  13,339
  14,010
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
  3,098
  3,320
  3,499
  3,687
  3,883
  4,088
  4,303
  4,528
  4,763
  5,009
  5,267
  5,459
  5,742
  6,039
  6,350
  6,676
  7,018
  7,377
  7,753
  8,148
  8,562
  8,996
  9,452
  9,930
  10,432
  10,959
  11,511
  12,091
  12,700
  13,339
  14,010
Operating income, $m
  226
  190
  205
  221
  237
  254
  272
  291
  310
  331
  352
  453
  477
  501
  527
  554
  583
  612
  644
  676
  711
  747
  785
  824
  866
  910
  956
  1,004
  1,054
  1,107
  1,163
EBITDA, $m
  354
  353
  373
  393
  414
  437
  460
  485
  510
  537
  565
  595
  626
  658
  692
  727
  765
  804
  845
  888
  933
  980
  1,030
  1,082
  1,136
  1,194
  1,254
  1,317
  1,383
  1,453
  1,526
Interest expense (income), $m
  0
  34
  38
  43
  47
  52
  57
  62
  68
  73
  79
  85
  92
  99
  106
  114
  121
  130
  138
  147
  157
  167
  178
  189
  200
  212
  225
  238
  252
  267
  283
Earnings before tax, $m
  141
  156
  167
  178
  190
  202
  215
  229
  243
  257
  273
  368
  385
  402
  421
  441
  461
  483
  505
  529
  554
  580
  607
  636
  666
  697
  730
  765
  802
  840
  880
Tax expense, $m
  66
  42
  45
  48
  51
  55
  58
  62
  66
  70
  74
  99
  104
  109
  114
  119
  125
  130
  136
  143
  149
  157
  164
  172
  180
  188
  197
  207
  216
  227
  238
Net income, $m
  75
  114
  122
  130
  139
  148
  157
  167
  177
  188
  199
  268
  281
  294
  307
  322
  337
  352
  369
  386
  404
  423
  443
  464
  486
  509
  533
  559
  585
  613
  643

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  104
  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
  3,153
  3,220
  3,399
  3,585
  3,780
  3,984
  4,197
  4,421
  4,654
  4,899
  5,155
  5,424
  5,705
  6,000
  6,309
  6,634
  6,973
  7,330
  7,704
  8,096
  8,507
  8,939
  9,392
  9,867
  10,365
  10,888
  11,438
  12,014
  12,619
  13,254
  13,920
Adjusted assets (=assets-cash), $m
  3,049
  3,220
  3,399
  3,585
  3,780
  3,984
  4,197
  4,421
  4,654
  4,899
  5,155
  5,424
  5,705
  6,000
  6,309
  6,634
  6,973
  7,330
  7,704
  8,096
  8,507
  8,939
  9,392
  9,867
  10,365
  10,888
  11,438
  12,014
  12,619
  13,254
  13,920
Revenue / Adjusted assets
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
  1.090
Average production assets, $m
  1,313
  1,387
  1,463
  1,544
  1,628
  1,715
  1,807
  1,903
  2,004
  2,109
  2,220
  2,335
  2,456
  2,583
  2,717
  2,856
  3,002
  3,156
  3,317
  3,486
  3,663
  3,849
  4,044
  4,248
  4,463
  4,688
  4,924
  5,173
  5,433
  5,706
  5,993
Working capital, $m
  261
  221
  233
  246
  260
  274
  288
  304
  320
  336
  354
  372
  392
  412
  433
  456
  479
  503
  529
  556
  584
  614
  645
  678
  712
  748
  785
  825
  867
  910
  956
Total debt, $m
  1,026
  1,093
  1,218
  1,347
  1,483
  1,625
  1,773
  1,929
  2,091
  2,262
  2,440
  2,627
  2,823
  3,028
  3,243
  3,469
  3,705
  3,954
  4,214
  4,487
  4,773
  5,073
  5,388
  5,719
  6,066
  6,430
  6,813
  7,214
  7,635
  8,077
  8,540
Total liabilities, $m
  2,174
  2,241
  2,366
  2,495
  2,631
  2,773
  2,921
  3,077
  3,239
  3,410
  3,588
  3,775
  3,971
  4,176
  4,391
  4,617
  4,853
  5,102
  5,362
  5,635
  5,921
  6,221
  6,536
  6,867
  7,214
  7,578
  7,961
  8,362
  8,783
  9,225
  9,688
Total equity, $m
  979
  979
  1,033
  1,090
  1,149
  1,211
  1,276
  1,344
  1,415
  1,489
  1,567
  1,649
  1,734
  1,824
  1,918
  2,017
  2,120
  2,228
  2,342
  2,461
  2,586
  2,717
  2,855
  2,999
  3,151
  3,310
  3,477
  3,652
  3,836
  4,029
  4,232
Total liabilities and equity, $m
  3,153
  3,220
  3,399
  3,585
  3,780
  3,984
  4,197
  4,421
  4,654
  4,899
  5,155
  5,424
  5,705
  6,000
  6,309
  6,634
  6,973
  7,330
  7,704
  8,096
  8,507
  8,938
  9,391
  9,866
  10,365
  10,888
  11,438
  12,014
  12,619
  13,254
  13,920
Debt-to-equity ratio
  1.048
  1.120
  1.180
  1.240
  1.290
  1.340
  1.390
  1.440
  1.480
  1.520
  1.560
  1.590
  1.630
  1.660
  1.690
  1.720
  1.750
  1.770
  1.800
  1.820
  1.850
  1.870
  1.890
  1.910
  1.930
  1.940
  1.960
  1.980
  1.990
  2.000
  2.020
Adjusted equity ratio
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304
  0.304

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  75
  114
  122
  130
  139
  148
  157
  167
  177
  188
  199
  268
  281
  294
  307
  322
  337
  352
  369
  386
  404
  423
  443
  464
  486
  509
  533
  559
  585
  613
  643
Depreciation, amort., depletion, $m
  128
  163
  167
  172
  177
  183
  188
  194
  200
  206
  213
  142
  149
  157
  165
  173
  182
  191
  201
  211
  222
  233
  245
  257
  270
  284
  298
  313
  329
  346
  363
Funds from operations, $m
  338
  277
  289
  302
  316
  330
  345
  361
  377
  394
  412
  410
  430
  450
  472
  495
  519
  544
  570
  597
  626
  656
  688
  722
  756
  793
  832
  872
  915
  959
  1,006
Change in working capital, $m
  37
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  18
  19
  20
  21
  22
  23
  24
  26
  27
  28
  30
  31
  33
  34
  36
  38
  40
  42
  44
  46
Cash from operations, $m
  301
  265
  277
  290
  303
  316
  331
  346
  361
  378
  395
  392
  410
  430
  451
  473
  495
  519
  544
  570
  598
  627
  657
  689
  722
  757
  794
  833
  873
  915
  960
Maintenance CAPEX, $m
  0
  -80
  -84
  -89
  -94
  -99
  -104
  -110
  -115
  -121
  -128
  -135
  -142
  -149
  -157
  -165
  -173
  -182
  -191
  -201
  -211
  -222
  -233
  -245
  -257
  -270
  -284
  -298
  -313
  -329
  -346
New CAPEX, $m
  -112
  -74
  -77
  -80
  -84
  -88
  -92
  -96
  -101
  -105
  -110
  -116
  -121
  -127
  -133
  -140
  -146
  -153
  -161
  -169
  -177
  -186
  -195
  -205
  -215
  -225
  -236
  -248
  -260
  -273
  -287
Cash from investing activities, $m
  -25
  -154
  -161
  -169
  -178
  -187
  -196
  -206
  -216
  -226
  -238
  -251
  -263
  -276
  -290
  -305
  -319
  -335
  -352
  -370
  -388
  -408
  -428
  -450
  -472
  -495
  -520
  -546
  -573
  -602
  -633
Free cash flow, $m
  276
  112
  116
  121
  125
  130
  135
  140
  145
  151
  157
  141
  148
  154
  161
  168
  176
  184
  192
  201
  210
  219
  229
  239
  250
  262
  273
  286
  299
  313
  327
Issuance/(repayment) of debt, $m
  -160
  119
  124
  130
  136
  142
  148
  155
  163
  170
  178
  187
  196
  205
  215
  226
  237
  248
  260
  273
  286
  300
  315
  331
  347
  364
  382
  401
  421
  442
  464
Issuance/(repurchase) of shares, $m
  -5
  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  
  -174
  119
  124
  130
  136
  142
  148
  155
  163
  170
  178
  187
  196
  205
  215
  226
  237
  248
  260
  273
  286
  300
  315
  331
  347
  364
  382
  401
  421
  442
  464
Total cash flow (excl. dividends), $m
  96
  231
  240
  250
  261
  272
  283
  295
  308
  321
  335
  328
  344
  360
  376
  394
  412
  432
  452
  473
  496
  519
  544
  570
  597
  626
  656
  687
  720
  755
  791
Retained Cash Flow (-), $m
  37
  -52
  -54
  -57
  -59
  -62
  -65
  -68
  -71
  -74
  -78
  -82
  -86
  -90
  -94
  -99
  -103
  -108
  -114
  -119
  -125
  -131
  -138
  -144
  -152
  -159
  -167
  -175
  -184
  -193
  -203
Prev. year cash balance distribution, $m
 
  52
  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
 
  231
  186
  194
  202
  210
  218
  227
  237
  247
  257
  247
  258
  270
  282
  295
  309
  323
  338
  354
  371
  388
  406
  426
  446
  467
  489
  512
  536
  562
  589
Discount rate, %
 
  7.00
  7.35
  7.72
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.86
  11.40
  11.97
  12.57
  13.20
  13.86
  14.55
  15.28
  16.04
  16.85
  17.69
  18.57
  19.50
  20.48
  21.50
  22.58
  23.70
  24.89
  26.13
  27.44
  28.81
PV of cash for distribution, $m
 
  216
  161
  155
  148
  139
  131
  121
  112
  102
  92
  75
  66
  58
  50
  42
  35
  29
  23
  18
  14
  11
  8
  6
  4
  3
  2
  1
  1
  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

Greif, Inc. is a producer of industrial packaging products and services. The Company's segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Paper Packaging & Services segment is engaged in the production and sale of containerboard, corrugated sheets, corrugated containers and other corrugated products. The Flexible Products & Services segment is engaged in the production and sale of flexible intermediate bulk containers and related services on a global basis. The Land Management segment is involved in the management and sale of timber. As of October 31, 2016, the Company had operations in over 45 countries.

FINANCIAL RATIOS  of  Greif Cl A (GEF)

Valuation Ratios
P/E Ratio 36.3
Price to Sales 0.8
Price to Book 2.8
Price to Tangible Book
Price to Cash Flow 9
Price to Free Cash Flow 14.4
Growth Rates
Sales Growth Rate -8.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -35.6%
Cap. Spend. - 3 Yr. Gr. Rate -5%
Financial Strength
Quick Ratio 2
Current Ratio 0
LT Debt to Equity 99.5%
Total Debt to Equity 104.8%
Interest Coverage 0
Management Effectiveness
Return On Assets 2.3%
Ret/ On Assets - 3 Yr. Avg. 2.3%
Return On Total Capital 3.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.5%
Return On Equity 7.5%
Return On Equity - 3 Yr. Avg. 7.3%
Asset Turnover 1
Profitability Ratios
Gross Margin 20.6%
Gross Margin - 3 Yr. Avg. 19.4%
EBITDA Margin 8.1%
EBITDA Margin - 3 Yr. Avg. 7.5%
Operating Margin 6.8%
Oper. Margin - 3 Yr. Avg. 6%
Pre-Tax Margin 4.2%
Pre-Tax Margin - 3 Yr. Avg. 3.7%
Net Profit Margin 2.3%
Net Profit Margin - 3 Yr. Avg. 2.1%
Effective Tax Rate 46.8%
Eff/ Tax Rate - 3 Yr. Avg. 54.1%
Payout Ratio 132%

GEF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GEF stock intrinsic value calculation we used $3324 million for the last fiscal year's total revenue generated by Greif Cl A. The default revenue input number comes from 2016 income statement of Greif 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 GEF stock valuation model: a) initial revenue growth rate of 5.6% 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 7%, whose default value for GEF is calculated based on our internal credit rating of Greif 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 Greif 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 GEF stock the variable cost ratio is equal to 94.7%.

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 GEF 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 Greif Cl A.

Corporate tax rate of 27% is the nominal tax rate for Greif 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 GEF 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 GEF are equal to 39.5%.

Life of production assets of 16.5 years is the average useful life of capital assets used in Greif 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 GEF is equal to 6.3%. 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 - $979 million for Greif 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 50.382 million for Greif 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 Greif Cl A at the current share price and the inputted number of shares is $2.9 billion.

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COMPANY NEWS

▶ Greif, Inc. Value Analysis (NYSE:GEF) : October 16, 2017   [Oct-16-17 10:07AM  Capital Cube]
▶ IBD Rating Upgrades: Greif Shows Improved Technical Strength   [03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Greif, Inc. : September 7, 2017   [Sep-07-17 01:10PM  Capital Cube]
▶ Greif Shows Improved Relative Price Performance; Still Shy Of Benchmark   [Sep-06-17 03:00AM  Investor's Business Daily]
▶ Greif posts 3Q profit   [08:04PM  Associated Press]
▶ Greif tops Street 3Q forecasts   [08:03PM  Associated Press]
▶ Greif Reports Third Quarter 2017 Results   [Aug-30-17 04:15PM  Business Wire]
▶ Greif, Inc. Declares Third Quarter 2017 Dividends   [Aug-29-17 02:37PM  Business Wire]
▶ Greif, Inc. Value Analysis (NYSE:GEF) : July 31, 2017   [Jul-31-17 06:11PM  Capital Cube]
▶ Greif can do 'virtually any deal we can find,' execs say at NYSE   [Jun-30-17 11:23AM  American City Business Journals]
▶ Greif, Inc. Announces Highlights of 2017 Investor Day   [Jun-28-17 04:15PM  Business Wire]
▶ ETFs with exposure to Greif, Inc. : June 13, 2017   [Jun-13-17 12:31PM  Capital Cube]
▶ After-hours buzz: GEF, MYL & more   [Jun-07-17 05:37PM  CNBC]
▶ Greif posts 2Q profit   [04:44PM  Associated Press]
▶ Greif misses Street 2Q forecasts   [04:23PM  Associated Press]
▶ Greif Reports Second Quarter 2017 Results   [04:10PM  Business Wire]
▶ Greif, Inc. Declares Second Quarter 2017 Dividends   [Jun-06-17 01:47PM  Business Wire]
▶ Greif, Inc. Value Analysis (NYSE:GEF) : April 21, 2017   [Apr-21-17 03:31PM  Capital Cube]
▶ Greif posts 1Q profit   [Mar-01-17 04:39PM  Associated Press]
▶ Greif misses 1Q profit forecasts   [04:36PM  Associated Press]
▶ Greif Reports First Quarter 2017 Results   [04:15PM  Business Wire]
▶ Greif, Inc. Declares First Quarter 2017 Dividends   [Feb-28-17 01:33PM  Business Wire]
▶ Greif, Inc. Announces Date for Investor Day 2017   [Feb-15-17 04:15PM  Business Wire]
Financial statements of GEF
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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