Intrinsic value of Graco Inc. - GGG

Previous Close

$126.80

  Intrinsic Value

$74.95

stock screener

  Rating & Target

sell

-41%

  Value-price divergence*

-29%

Previous close

$126.80

 
Intrinsic value

$74.95

 
Up/down potential

-41%

 
Rating

sell

 
Value-price divergence*

-29%

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

We calculate the intrinsic value of GGG 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 7.2

 

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, %
  3.34
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.87
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.59
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
Revenue, $m
  1,329
  1,447
  1,570
  1,699
  1,832
  1,970
  2,114
  2,264
  2,419
  2,581
  2,749
  2,923
  3,105
  3,295
  3,492
  3,698
  3,913
  4,137
  4,370
  4,614
  4,869
  5,136
  5,415
  5,706
  6,011
  6,331
  6,665
  7,015
  7,382
  7,766
  8,168
Variable operating expenses, $m
 
  1,105
  1,197
  1,292
  1,391
  1,495
  1,602
  1,713
  1,829
  1,950
  2,075
  2,179
  2,315
  2,456
  2,603
  2,757
  2,917
  3,084
  3,258
  3,440
  3,630
  3,829
  4,036
  4,254
  4,481
  4,719
  4,968
  5,229
  5,502
  5,789
  6,089
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
  1,215
  1,105
  1,197
  1,292
  1,391
  1,495
  1,602
  1,713
  1,829
  1,950
  2,075
  2,179
  2,315
  2,456
  2,603
  2,757
  2,917
  3,084
  3,258
  3,440
  3,630
  3,829
  4,036
  4,254
  4,481
  4,719
  4,968
  5,229
  5,502
  5,789
  6,089
Operating income, $m
  114
  342
  374
  406
  440
  476
  512
  550
  590
  631
  674
  744
  791
  839
  889
  941
  996
  1,053
  1,113
  1,175
  1,240
  1,307
  1,378
  1,453
  1,530
  1,612
  1,697
  1,786
  1,879
  1,977
  2,079
EBITDA, $m
  162
  397
  431
  466
  502
  540
  580
  621
  663
  708
  754
  802
  852
  904
  958
  1,014
  1,073
  1,134
  1,198
  1,265
  1,335
  1,408
  1,485
  1,565
  1,648
  1,736
  1,828
  1,924
  2,024
  2,130
  2,240
Interest expense (income), $m
  18
  15
  18
  21
  24
  28
  31
  35
  38
  42
  46
  51
  55
  59
  64
  69
  74
  79
  85
  91
  97
  103
  110
  117
  124
  132
  139
  148
  156
  166
  175
Earnings before tax, $m
  97
  327
  356
  385
  416
  448
  481
  515
  551
  589
  627
  694
  736
  779
  825
  872
  922
  974
  1,028
  1,084
  1,143
  1,204
  1,269
  1,336
  1,406
  1,480
  1,557
  1,638
  1,723
  1,811
  1,904
Tax expense, $m
  56
  88
  96
  104
  112
  121
  130
  139
  149
  159
  169
  187
  199
  210
  223
  236
  249
  263
  277
  293
  309
  325
  343
  361
  380
  400
  420
  442
  465
  489
  514
Net income, $m
  41
  239
  260
  281
  304
  327
  351
  376
  402
  430
  458
  506
  537
  569
  602
  637
  673
  711
  750
  791
  834
  879
  926
  975
  1,027
  1,080
  1,137
  1,196
  1,258
  1,322
  1,390

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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
  0
Total assets, $m
  1,243
  1,297
  1,407
  1,522
  1,641
  1,765
  1,894
  2,028
  2,168
  2,312
  2,463
  2,620
  2,783
  2,952
  3,129
  3,314
  3,506
  3,707
  3,916
  4,135
  4,363
  4,602
  4,852
  5,113
  5,386
  5,673
  5,972
  6,286
  6,614
  6,958
  7,319
Adjusted assets (=assets-cash), $m
  1,191
  1,297
  1,407
  1,522
  1,641
  1,765
  1,894
  2,028
  2,168
  2,312
  2,463
  2,620
  2,783
  2,952
  3,129
  3,314
  3,506
  3,707
  3,916
  4,135
  4,363
  4,602
  4,852
  5,113
  5,386
  5,673
  5,972
  6,286
  6,614
  6,958
  7,319
Revenue / Adjusted assets
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
  1.116
Average production assets, $m
  390
  424
  460
  498
  537
  577
  619
  663
  709
  756
  805
  857
  910
  965
  1,023
  1,084
  1,146
  1,212
  1,281
  1,352
  1,427
  1,505
  1,587
  1,672
  1,761
  1,855
  1,953
  2,055
  2,163
  2,275
  2,393
Working capital, $m
  325
  307
  333
  360
  388
  418
  448
  480
  513
  547
  583
  620
  658
  699
  740
  784
  829
  877
  927
  978
  1,032
  1,089
  1,148
  1,210
  1,274
  1,342
  1,413
  1,487
  1,565
  1,646
  1,732
Total debt, $m
  315
  364
  426
  489
  555
  624
  695
  770
  847
  927
  1,010
  1,097
  1,188
  1,282
  1,380
  1,482
  1,588
  1,699
  1,816
  1,937
  2,063
  2,196
  2,334
  2,479
  2,630
  2,789
  2,955
  3,128
  3,310
  3,501
  3,701
Total liabilities, $m
  669
  718
  780
  843
  909
  978
  1,049
  1,124
  1,201
  1,281
  1,364
  1,451
  1,542
  1,636
  1,734
  1,836
  1,942
  2,053
  2,170
  2,291
  2,417
  2,550
  2,688
  2,833
  2,984
  3,143
  3,309
  3,482
  3,664
  3,855
  4,055
Total equity, $m
  574
  578
  628
  679
  732
  787
  845
  905
  967
  1,031
  1,098
  1,168
  1,241
  1,317
  1,396
  1,478
  1,564
  1,653
  1,747
  1,844
  1,946
  2,053
  2,164
  2,280
  2,402
  2,530
  2,664
  2,803
  2,950
  3,103
  3,264
Total liabilities and equity, $m
  1,243
  1,296
  1,408
  1,522
  1,641
  1,765
  1,894
  2,029
  2,168
  2,312
  2,462
  2,619
  2,783
  2,953
  3,130
  3,314
  3,506
  3,706
  3,917
  4,135
  4,363
  4,603
  4,852
  5,113
  5,386
  5,673
  5,973
  6,285
  6,614
  6,958
  7,319
Debt-to-equity ratio
  0.549
  0.630
  0.680
  0.720
  0.760
  0.790
  0.820
  0.850
  0.880
  0.900
  0.920
  0.940
  0.960
  0.970
  0.990
  1.000
  1.020
  1.030
  1.040
  1.050
  1.060
  1.070
  1.080
  1.090
  1.090
  1.100
  1.110
  1.120
  1.120
  1.130
  1.130
Adjusted equity ratio
  0.438
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446
  0.446

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  41
  239
  260
  281
  304
  327
  351
  376
  402
  430
  458
  506
  537
  569
  602
  637
  673
  711
  750
  791
  834
  879
  926
  975
  1,027
  1,080
  1,137
  1,196
  1,258
  1,322
  1,390
Depreciation, amort., depletion, $m
  48
  54
  57
  59
  62
  65
  68
  71
  74
  77
  80
  57
  61
  65
  69
  73
  77
  81
  86
  91
  96
  101
  106
  112
  118
  124
  131
  138
  145
  153
  161
Funds from operations, $m
  278
  293
  316
  341
  366
  392
  419
  447
  476
  506
  538
  564
  598
  634
  671
  710
  750
  792
  836
  882
  930
  980
  1,033
  1,087
  1,145
  1,205
  1,268
  1,334
  1,403
  1,475
  1,551
Change in working capital, $m
  9
  25
  26
  27
  28
  29
  31
  32
  33
  34
  36
  37
  39
  40
  42
  44
  45
  47
  50
  52
  54
  57
  59
  62
  65
  68
  71
  74
  78
  81
  85
Cash from operations, $m
  269
  268
  290
  313
  337
  362
  388
  415
  443
  472
  502
  527
  560
  594
  629
  666
  704
  745
  787
  830
  876
  924
  973
  1,026
  1,080
  1,137
  1,197
  1,259
  1,325
  1,394
  1,465
Maintenance CAPEX, $m
  0
  -26
  -28
  -31
  -33
  -36
  -39
  -42
  -45
  -48
  -51
  -54
  -57
  -61
  -65
  -69
  -73
  -77
  -81
  -86
  -91
  -96
  -101
  -106
  -112
  -118
  -124
  -131
  -138
  -145
  -153
New CAPEX, $m
  -42
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -47
  -49
  -51
  -53
  -56
  -58
  -60
  -63
  -66
  -68
  -72
  -75
  -78
  -82
  -85
  -89
  -94
  -98
  -103
  -107
  -113
  -118
Cash from investing activities, $m
  -91
  -61
  -64
  -69
  -72
  -77
  -81
  -86
  -91
  -95
  -100
  -105
  -110
  -117
  -123
  -129
  -136
  -143
  -149
  -158
  -166
  -174
  -183
  -191
  -201
  -212
  -222
  -234
  -245
  -258
  -271
Free cash flow, $m
  178
  207
  226
  245
  265
  286
  307
  330
  353
  377
  402
  422
  449
  477
  506
  537
  569
  602
  637
  673
  710
  750
  791
  834
  879
  925
  975
  1,026
  1,080
  1,136
  1,195
Issuance/(repayment) of debt, $m
  -93
  58
  61
  64
  66
  69
  71
  74
  77
  80
  83
  87
  90
  94
  98
  102
  107
  111
  116
  121
  127
  132
  138
  145
  151
  158
  166
  174
  182
  191
  200
Issuance/(repurchase) of shares, $m
  -18
  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  
  -105
  58
  61
  64
  66
  69
  71
  74
  77
  80
  83
  87
  90
  94
  98
  102
  107
  111
  116
  121
  127
  132
  138
  145
  151
  158
  166
  174
  182
  191
  200
Total cash flow (excl. dividends), $m
  73
  266
  287
  309
  331
  354
  379
  404
  430
  457
  486
  508
  539
  571
  604
  639
  675
  713
  753
  794
  837
  882
  929
  978
  1,030
  1,084
  1,140
  1,200
  1,262
  1,327
  1,395
Retained Cash Flow (-), $m
  62
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -67
  -70
  -73
  -76
  -79
  -82
  -86
  -89
  -93
  -98
  -102
  -107
  -111
  -117
  -122
  -128
  -134
  -140
  -147
  -154
  -161
Prev. year cash balance distribution, $m
 
  43
  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
 
  262
  238
  257
  278
  299
  321
  344
  368
  393
  419
  438
  466
  495
  525
  557
  590
  624
  659
  696
  735
  776
  818
  862
  908
  956
  1,007
  1,060
  1,115
  1,173
  1,234
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
 
  251
  218
  224
  229
  232
  233
  233
  230
  226
  219
  208
  199
  188
  176
  163
  150
  136
  121
  107
  93
  80
  68
  56
  46
  37
  29
  23
  17
  13
  9
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

Graco Inc. designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids. The Contractor segment markets sprayers for architectural coatings for painting, corrosion control, texture and line striping. Its equipment is used in the manufacturing, processing, construction and maintenance industries.

FINANCIAL RATIOS  of  Graco Inc. (GGG)

Valuation Ratios
P/E Ratio 172.7
Price to Sales 5.3
Price to Book 12.3
Price to Tangible Book
Price to Cash Flow 26.3
Price to Free Cash Flow 31.2
Growth Rates
Sales Growth Rate 3.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 12.8%
Financial Strength
Quick Ratio 6
Current Ratio 0.1
LT Debt to Equity 53.3%
Total Debt to Equity 54.9%
Interest Coverage 6
Management Effectiveness
Return On Assets 3.7%
Ret/ On Assets - 3 Yr. Avg. 14.9%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. 18.3%
Return On Equity 6.8%
Return On Equity - 3 Yr. Avg. 33.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 53.3%
Gross Margin - 3 Yr. Avg. 53.7%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 28.1%
Operating Margin 8.6%
Oper. Margin - 3 Yr. Avg. 19.1%
Pre-Tax Margin 7.3%
Pre-Tax Margin - 3 Yr. Avg. 23.3%
Net Profit Margin 3.1%
Net Profit Margin - 3 Yr. Avg. 16.2%
Effective Tax Rate 57.7%
Eff/ Tax Rate - 3 Yr. Avg. 37.7%
Payout Ratio 178%

GGG stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GGG stock intrinsic value calculation we used $1329 million for the last fiscal year's total revenue generated by Graco Inc.. The default revenue input number comes from 2016 income statement of Graco Inc.. 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 GGG stock valuation model: a) initial revenue growth rate of 8.9% 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 GGG is calculated based on our internal credit rating of Graco Inc., 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 Graco Inc..
    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 GGG stock the variable cost ratio is equal to 76.5%.

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 GGG 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% for Graco Inc..

Corporate tax rate of 27% is the nominal tax rate for Graco Inc.. 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 GGG 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 GGG are equal to 29.3%.

Life of production assets of 14.9 years is the average useful life of capital assets used in Graco Inc. 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 GGG is equal to 21.2%. 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 - $574 million for Graco Inc. - 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 56.516 million for Graco Inc. 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 Graco Inc. at the current share price and the inputted number of shares is $7.2 billion.

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COMPANY NEWS

▶ Twin Disc (TWIN) Jumps: Stock Rises 6.9%   [Oct-17-17 08:54AM  Zacks]
▶ Graco Announces Regular Quarterly Dividend   [Sep-22-17 11:28AM  Business Wire]
▶ Rexnord Trying To Close In On Key Technical Benchmark   [Sep-07-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Graco, Inc. : August 11, 2017   [Aug-11-17 05:33PM  Capital Cube]
▶ Graco beats Street 2Q forecasts   [12:00AM  Associated Press]
▶ Graco Reports Record Sales and Operating Earnings   [Jul-26-17 04:15PM  Business Wire]
▶ Graco, Inc. Value Analysis (NYSE:GGG) : July 3, 2017   [Jul-03-17 04:28PM  Capital Cube]
▶ Breakout Watch: 2016 IPO Stock Tests New Buy Zone   [Jun-19-17 01:37PM  Investor's Business Daily]
▶ Graco Announces Regular Quarterly Dividend   [Jun-16-17 11:12AM  Business Wire]
▶ Graco recalling more than 25K car seats   [May-25-17 10:40AM  Fox Business Videos]
▶ Graco recalls car seats; webbing may not hold child in crash   [May-24-17 09:40AM  Associated Press]
▶ Why You Shouldn't Bet Against Graco (GGG) Stock   [May-15-17 08:31AM  Zacks]
▶ ETFs with exposure to Graco, Inc. : May 12, 2017   [May-12-17 03:59PM  Capital Cube]
▶ ETFs with exposure to Graco, Inc. : May 1, 2017   [May-01-17 03:56PM  Capital Cube]
▶ Graco beats Street 1Q forecasts   [Apr-26-17 05:42PM  Associated Press]
▶ ETFs with exposure to Graco, Inc. : April 5, 2017   [Apr-05-17 04:49PM  Capital Cube]
▶ Graco CEO Patrick McHale's compensation dipped in 2016   [Mar-16-17 02:25PM  at bizjournals.com]
▶ Graco CEO Patrick McHale's compensation dipped in 2016   [02:25PM  American City Business Journals]
▶ Graco Rebrands and Redesigns Airlessco Airless Sprayer Line   [Feb-22-17 05:13PM  Business Wire]
▶ Graco Announces Regular Quarterly Dividend   [Feb-17-17 11:21AM  Business Wire]
Financial statements of GGG
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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