Intrinsic value of Griffon - GFF

Previous Close

$17.95

  Intrinsic Value

$38.70

stock screener

  Rating & Target

str. buy

+116%

Previous close

$17.95

 
Intrinsic value

$38.70

 
Up/down potential

+116%

 
Rating

str. buy

We calculate the intrinsic value of GFF 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 0001), $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 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  44.20
  40.28
  36.75
  33.58
  30.72
  28.15
  25.83
  23.75
  21.87
  20.19
  18.67
  17.30
  16.07
  14.96
  13.97
  13.07
  12.26
  11.54
  10.88
  10.30
  9.77
  9.29
  8.86
  8.47
  8.13
  7.81
  7.53
  7.28
  7.05
  6.85
Revenue, $m
  2,199
  3,085
  4,219
  5,635
  7,366
  9,439
  11,878
  14,699
  17,914
  21,530
  25,549
  29,970
  34,786
  39,992
  45,578
  51,535
  57,855
  64,531
  71,554
  78,921
  86,628
  94,675
  103,063
  111,797
  120,883
  130,329
  140,146
  150,348
  160,950
  171,969
Variable operating expenses, $m
  2,053
  2,858
  3,890
  5,178
  6,753
  8,639
  10,857
  13,423
  16,347
  19,637
  23,240
  27,261
  31,642
  36,377
  41,459
  46,878
  52,627
  58,698
  65,087
  71,788
  78,799
  86,118
  93,749
  101,693
  109,958
  118,550
  127,480
  136,760
  146,403
  156,427
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
  2,053
  2,858
  3,890
  5,178
  6,753
  8,639
  10,857
  13,423
  16,347
  19,637
  23,240
  27,261
  31,642
  36,377
  41,459
  46,878
  52,627
  58,698
  65,087
  71,788
  78,799
  86,118
  93,749
  101,693
  109,958
  118,550
  127,480
  136,760
  146,403
  156,427
Operating income, $m
  146
  226
  329
  457
  613
  801
  1,021
  1,276
  1,567
  1,893
  2,309
  2,709
  3,144
  3,614
  4,119
  4,658
  5,229
  5,832
  6,467
  7,133
  7,829
  8,557
  9,315
  10,104
  10,925
  11,779
  12,666
  13,588
  14,546
  15,542
EBITDA, $m
  244
  342
  468
  626
  818
  1,048
  1,319
  1,632
  1,989
  2,390
  2,836
  3,327
  3,862
  4,440
  5,060
  5,721
  6,423
  7,164
  7,944
  8,762
  9,617
  10,511
  11,442
  12,412
  13,420
  14,469
  15,559
  16,692
  17,869
  19,092
Interest expense (income), $m
  48
  54
  90
  137
  197
  272
  364
  475
  604
  754
  925
  1,118
  1,331
  1,566
  1,823
  2,099
  2,396
  2,713
  3,049
  3,404
  3,778
  4,169
  4,579
  5,007
  5,453
  5,918
  6,401
  6,903
  7,425
  7,968
  8,531
Earnings before tax, $m
  92
  137
  192
  260
  341
  436
  546
  672
  812
  968
  1,191
  1,377
  1,578
  1,792
  2,020
  2,261
  2,516
  2,783
  3,063
  3,355
  3,660
  3,977
  4,308
  4,651
  5,008
  5,378
  5,763
  6,163
  6,579
  7,011
Tax expense, $m
  25
  37
  52
  70
  92
  118
  148
  181
  219
  261
  322
  372
  426
  484
  545
  611
  679
  751
  827
  906
  988
  1,074
  1,163
  1,256
  1,352
  1,452
  1,556
  1,664
  1,776
  1,893
Net income, $m
  67
  100
  140
  190
  249
  318
  399
  490
  593
  707
  870
  1,005
  1,152
  1,308
  1,475
  1,651
  1,836
  2,032
  2,236
  2,449
  2,672
  2,903
  3,144
  3,395
  3,655
  3,926
  4,207
  4,499
  4,802
  5,118

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  2,702
  3,790
  5,182
  6,923
  9,049
  11,596
  14,592
  18,057
  22,007
  26,450
  31,388
  36,818
  42,735
  49,130
  55,992
  63,311
  71,076
  79,276
  87,904
  96,954
  106,422
  116,308
  126,613
  137,343
  148,505
  160,109
  172,170
  184,703
  197,727
  211,264
Adjusted assets (=assets-cash), $m
  2,702
  3,790
  5,182
  6,923
  9,049
  11,596
  14,592
  18,057
  22,007
  26,450
  31,388
  36,818
  42,735
  49,130
  55,992
  63,311
  71,076
  79,276
  87,904
  96,954
  106,422
  116,308
  126,613
  137,343
  148,505
  160,109
  172,170
  184,703
  197,727
  211,264
Revenue / Adjusted assets
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
  0.814
Average production assets, $m
  708
  993
  1,358
  1,814
  2,372
  3,039
  3,825
  4,733
  5,768
  6,933
  8,227
  9,650
  11,201
  12,877
  14,676
  16,594
  18,629
  20,779
  23,040
  25,412
  27,894
  30,485
  33,186
  35,999
  38,924
  41,966
  45,127
  48,412
  51,826
  55,374
Working capital, $m
  996
  1,397
  1,911
  2,553
  3,337
  4,276
  5,381
  6,659
  8,115
  9,753
  11,574
  13,576
  15,758
  18,116
  20,647
  23,345
  26,209
  29,232
  32,414
  35,751
  39,242
  42,888
  46,688
  50,644
  54,760
  59,039
  63,486
  68,108
  72,910
  77,902
Total debt, $m
  1,631
  2,487
  3,583
  4,953
  6,626
  8,631
  10,988
  13,716
  16,824
  20,320
  24,206
  28,480
  33,137
  38,170
  43,570
  49,330
  55,441
  61,895
  68,685
  75,807
  83,259
  91,039
  99,149
  107,593
  116,378
  125,510
  135,002
  144,865
  155,116
  165,769
Total liabilities, $m
  2,126
  2,982
  4,079
  5,448
  7,122
  9,126
  11,484
  14,211
  17,320
  20,816
  24,702
  28,976
  33,633
  38,665
  44,066
  49,826
  55,936
  62,390
  69,180
  76,303
  83,754
  91,535
  99,645
  108,089
  116,873
  126,006
  135,498
  145,361
  155,611
  166,265
Total equity, $m
  575
  807
  1,104
  1,475
  1,927
  2,470
  3,108
  3,846
  4,688
  5,634
  6,686
  7,842
  9,103
  10,465
  11,926
  13,485
  15,139
  16,886
  18,724
  20,651
  22,668
  24,774
  26,969
  29,254
  31,631
  34,103
  36,672
  39,342
  42,116
  44,999
Total liabilities and equity, $m
  2,701
  3,789
  5,183
  6,923
  9,049
  11,596
  14,592
  18,057
  22,008
  26,450
  31,388
  36,818
  42,736
  49,130
  55,992
  63,311
  71,075
  79,276
  87,904
  96,954
  106,422
  116,309
  126,614
  137,343
  148,504
  160,109
  172,170
  184,703
  197,727
  211,264
Debt-to-equity ratio
  2.830
  3.080
  3.250
  3.360
  3.440
  3.490
  3.540
  3.570
  3.590
  3.610
  3.620
  3.630
  3.640
  3.650
  3.650
  3.660
  3.660
  3.670
  3.670
  3.670
  3.670
  3.670
  3.680
  3.680
  3.680
  3.680
  3.680
  3.680
  3.680
  3.680
Adjusted equity ratio
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  67
  100
  140
  190
  249
  318
  399
  490
  593
  707
  870
  1,005
  1,152
  1,308
  1,475
  1,651
  1,836
  2,032
  2,236
  2,449
  2,672
  2,903
  3,144
  3,395
  3,655
  3,926
  4,207
  4,499
  4,802
  5,118
Depreciation, amort., depletion, $m
  98
  116
  140
  169
  204
  247
  298
  356
  422
  497
  527
  619
  718
  825
  941
  1,064
  1,194
  1,332
  1,477
  1,629
  1,788
  1,954
  2,127
  2,308
  2,495
  2,690
  2,893
  3,103
  3,322
  3,550
Funds from operations, $m
  165
  216
  280
  358
  453
  566
  696
  846
  1,015
  1,204
  1,397
  1,624
  1,870
  2,134
  2,415
  2,714
  3,031
  3,363
  3,713
  4,078
  4,460
  4,858
  5,272
  5,703
  6,151
  6,616
  7,100
  7,602
  8,125
  8,668
Change in working capital, $m
  305
  401
  514
  642
  784
  939
  1,105
  1,278
  1,457
  1,638
  1,821
  2,002
  2,182
  2,358
  2,530
  2,699
  2,863
  3,024
  3,182
  3,337
  3,491
  3,645
  3,800
  3,956
  4,116
  4,279
  4,447
  4,621
  4,803
  4,992
Cash from operations, $m
  -140
  -185
  -234
  -283
  -331
  -373
  -408
  -432
  -441
  -435
  -424
  -378
  -312
  -225
  -115
  16
  168
  340
  531
  741
  968
  1,212
  1,472
  1,746
  2,035
  2,337
  2,653
  2,981
  3,322
  3,676
Maintenance CAPEX, $m
  -32
  -45
  -64
  -87
  -116
  -152
  -195
  -245
  -303
  -370
  -444
  -527
  -619
  -718
  -825
  -941
  -1,064
  -1,194
  -1,332
  -1,477
  -1,629
  -1,788
  -1,954
  -2,127
  -2,308
  -2,495
  -2,690
  -2,893
  -3,103
  -3,322
New CAPEX, $m
  -216
  -285
  -365
  -456
  -557
  -668
  -785
  -908
  -1,035
  -1,164
  -1,294
  -1,423
  -1,551
  -1,676
  -1,799
  -1,918
  -2,035
  -2,149
  -2,262
  -2,372
  -2,482
  -2,591
  -2,701
  -2,812
  -2,926
  -3,042
  -3,161
  -3,285
  -3,414
  -3,548
Cash from investing activities, $m
  -248
  -330
  -429
  -543
  -673
  -820
  -980
  -1,153
  -1,338
  -1,534
  -1,738
  -1,950
  -2,170
  -2,394
  -2,624
  -2,859
  -3,099
  -3,343
  -3,594
  -3,849
  -4,111
  -4,379
  -4,655
  -4,939
  -5,234
  -5,537
  -5,851
  -6,178
  -6,517
  -6,870
Free cash flow, $m
  -388
  -516
  -663
  -826
  -1,005
  -1,193
  -1,388
  -1,585
  -1,780
  -1,969
  -2,162
  -2,329
  -2,482
  -2,619
  -2,739
  -2,843
  -2,931
  -3,004
  -3,062
  -3,108
  -3,142
  -3,167
  -3,183
  -3,193
  -3,198
  -3,200
  -3,199
  -3,197
  -3,195
  -3,194
Issuance/(repayment) of debt, $m
  651
  856
  1,096
  1,369
  1,674
  2,005
  2,358
  2,727
  3,109
  3,496
  3,886
  4,274
  4,657
  5,033
  5,401
  5,760
  6,111
  6,454
  6,790
  7,122
  7,452
  7,780
  8,110
  8,444
  8,784
  9,133
  9,492
  9,863
  10,250
  10,654
Issuance/(repurchase) of shares, $m
  109
  132
  156
  181
  204
  224
  239
  248
  248
  240
  182
  151
  109
  54
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  760
  988
  1,252
  1,550
  1,878
  2,229
  2,597
  2,975
  3,357
  3,736
  4,068
  4,425
  4,766
  5,087
  5,401
  5,760
  6,111
  6,454
  6,790
  7,122
  7,452
  7,780
  8,110
  8,444
  8,784
  9,133
  9,492
  9,863
  10,250
  10,654
Total cash flow (excl. dividends), $m
  372
  472
  590
  724
  873
  1,035
  1,209
  1,390
  1,577
  1,767
  1,906
  2,096
  2,284
  2,468
  2,661
  2,917
  3,179
  3,450
  3,728
  4,014
  4,309
  4,613
  4,927
  5,251
  5,586
  5,933
  6,293
  6,667
  7,055
  7,459
Retained Cash Flow (-), $m
  -177
  -232
  -297
  -371
  -453
  -543
  -638
  -738
  -841
  -946
  -1,052
  -1,157
  -1,260
  -1,362
  -1,462
  -1,559
  -1,654
  -1,747
  -1,838
  -1,928
  -2,017
  -2,106
  -2,195
  -2,285
  -2,377
  -2,472
  -2,569
  -2,670
  -2,774
  -2,883
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
  196
  241
  293
  353
  420
  493
  571
  652
  736
  821
  854
  939
  1,023
  1,106
  1,200
  1,358
  1,526
  1,703
  1,890
  2,087
  2,293
  2,508
  2,732
  2,965
  3,208
  3,461
  3,724
  3,997
  4,281
  4,576
Discount rate, %
  10.30
  10.82
  11.36
  11.92
  12.52
  13.15
  13.80
  14.49
  15.22
  15.98
  16.78
  17.62
  18.50
  19.42
  20.39
  21.41
  22.48
  23.61
  24.79
  26.03
  27.33
  28.70
  30.13
  31.64
  33.22
  34.88
  36.62
  38.45
  40.38
  42.40
PV of cash for distribution, $m
  178
  196
  212
  225
  233
  235
  231
  221
  206
  186
  155
  134
  113
  92
  74
  61
  49
  38
  28
  20
  14
  10
  6
  4
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  88.2
  79.4
  72.5
  67.2
  62.9
  59.5
  56.9
  54.7
  53.1
  51.8
  51.0
  50.4
  50.1
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9
  49.9

Griffon Corporation is a management and holding company that conducts business through its subsidiaries. The Company operates through three segments: Home & Building Products (HBP), Telephonics Corporation (Telephonics) and Clopay Plastic Products Company, Inc. (PPC). The HBP segment consists of two companies: The AMES Companies, Inc. (AMES) and Clopay Building Products Company, Inc. (CBP). AMES is a provider of non-powered landscaping products for homeowners and professionals. CBP is a manufacturer and marketer of residential, commercial and industrial garage doors to professional dealers and home center retail chains. The Telephonics segment designs, develops and manufactures integrated information, communication and sensor system solutions for military and commercial markets across the world. The PPC segment is engaged in the development and production of embossed, laminated and printed specialty plastic films used in a range of hygienic, healthcare and industrial applications.

FINANCIAL RATIOS  of  Griffon (GFF)

Valuation Ratios
P/E Ratio 56.4
Price to Sales 0.6
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 8.8
Price to Free Cash Flow 13.9
Growth Rates
Sales Growth Rate 3.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -40.7%
Cap. Spend. - 3 Yr. Gr. Rate -14.6%
Financial Strength
Quick Ratio 4
Current Ratio 1.4
LT Debt to Equity 242.6%
Total Debt to Equity 245.4%
Interest Coverage 1
Management Effectiveness
Return On Assets 3.6%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital 1.1%
Ret/ On T. Cap. - 3 Yr. Avg. 2%
Return On Equity 3.7%
Return On Equity - 3 Yr. Avg. 6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 26.8%
Gross Margin - 3 Yr. Avg. 26.8%
EBITDA Margin 7.4%
EBITDA Margin - 3 Yr. Avg. 7.6%
Operating Margin 4.5%
Oper. Margin - 3 Yr. Avg. 4.9%
Pre-Tax Margin 1.1%
Pre-Tax Margin - 3 Yr. Avg. 1.5%
Net Profit Margin 1%
Net Profit Margin - 3 Yr. Avg. 1.8%
Effective Tax Rate -5.9%
Eff/ Tax Rate - 3 Yr. Avg. 22.8%
Payout Ratio 66.7%

GFF stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GFF stock intrinsic value calculation we used $1524.997 million for the last fiscal year's total revenue generated by Griffon. The default revenue input number comes from 0001 income statement of Griffon. 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 GFF stock valuation model: a) initial revenue growth rate of 44.2% 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 10.3%, whose default value for GFF is calculated based on our internal credit rating of Griffon, 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 Griffon.
    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 GFF stock the variable cost ratio is equal to 94.4%.

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 GFF 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 5.5% for Griffon.

Corporate tax rate of 27% is the nominal tax rate for Griffon. 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 GFF 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 GFF are equal to 32.2%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Griffon 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 GFF is equal to 45.3%. 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 - $398.808 million for Griffon - 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 45.615 million for Griffon 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 Griffon at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ Griffon: Fiscal 3Q Earnings Snapshot   [Aug-01-18 06:24PM  Associated Press]
▶ Why Xunlei, Griffon, and Axovant Sciences Slumped Today   [Jun-12-18 04:34PM  Motley Fool]
▶ Griffon Corporation Completes CornellCookson Acquisition   [Jun-04-18 10:28AM  Business Wire]
▶ Griffon: Fiscal 2Q Earnings Snapshot   [May-03-18 06:04PM  Associated Press]
▶ Griffon Corporation Declares Special Dividend   [Mar-08-18 08:30AM  Business Wire]
▶ Griffon Corporation Announces First Quarter Results   [Jan-31-18 08:05AM  Business Wire]
▶ ETFs with exposure to Griffon Corp. : December 20, 2017   [Dec-20-17 11:44AM  Capital Cube]
▶ ETFs with exposure to Griffon Corp. : December 8, 2017   [Dec-08-17 12:54PM  Capital Cube]
▶ ETFs with exposure to Griffon Corp. : November 27, 2017   [Nov-27-17 01:49PM  Capital Cube]
▶ Griffon Corp.: Strong price momentum but will it sustain?   [Nov-17-17 11:03AM  Capital Cube]
▶ Griffon reports 4Q loss   [Nov-16-17 08:29AM  Associated Press]
▶ ETFs with exposure to Griffon Corp. : November 10, 2017   [Nov-10-17 12:28PM  Capital Cube]
▶ ETFs with exposure to Griffon Corp. : October 30, 2017   [Oct-30-17 11:52AM  Capital Cube]
▶ ETFs with exposure to Griffon Corp. : October 18, 2017   [Oct-18-17 09:46AM  Capital Cube]
▶ ETFs with exposure to Griffon Corp. : October 3, 2017   [Oct-03-17 11:15AM  Capital Cube]
▶ Griffon Corporation Completes Acquisition of ClosetMaid®   [Oct-02-17 10:45AM  Business Wire]
▶ ETFs with exposure to Griffon Corp. : August 4, 2017   [Aug-03-17 08:23PM  Capital Cube]
▶ Griffon posts 3Q profit   [01:05AM  Associated Press]
▶ Griffon Corporation Announces Third Quarter Results   [Aug-02-17 04:05PM  Business Wire]

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