Intrinsic value of Graphic Packaging Holding - GPK

Previous Close

$11.54

  Intrinsic Value

$33.69

stock screener

  Rating & Target

str. buy

+192%

Previous close

$11.54

 
Intrinsic value

$33.69

 
Up/down potential

+192%

 
Rating

str. buy

We calculate the intrinsic value of GPK 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 3.6

 

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, %
  37.90
  34.61
  31.65
  28.98
  26.59
  24.43
  22.48
  20.74
  19.16
  17.75
  16.47
  15.32
  14.29
  13.36
  12.53
  11.77
  11.10
  10.49
  9.94
  9.44
  9.00
  8.60
  8.24
  7.92
  7.62
  7.36
  7.13
  6.91
  6.72
  6.55
Revenue, $m
  6,073
  8,174
  10,762
  13,881
  17,571
  21,863
  26,779
  32,332
  38,527
  45,364
  52,837
  60,934
  69,642
  78,948
  88,838
  99,297
  110,316
  121,884
  133,997
  146,652
  159,851
  173,598
  187,902
  202,776
  218,237
  234,303
  250,999
  268,351
  286,389
  305,146
Variable operating expenses, $m
  5,447
  7,272
  9,518
  12,225
  15,428
  19,154
  23,421
  28,241
  33,619
  39,554
  45,865
  52,893
  60,453
  68,531
  77,115
  86,195
  95,759
  105,801
  116,316
  127,301
  138,758
  150,691
  163,108
  176,019
  189,439
  203,386
  217,878
  232,941
  248,598
  264,881
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
  5,447
  7,272
  9,518
  12,225
  15,428
  19,154
  23,421
  28,241
  33,619
  39,554
  45,865
  52,893
  60,453
  68,531
  77,115
  86,195
  95,759
  105,801
  116,316
  127,301
  138,758
  150,691
  163,108
  176,019
  189,439
  203,386
  217,878
  232,941
  248,598
  264,881
Operating income, $m
  625
  903
  1,244
  1,656
  2,143
  2,709
  3,358
  4,090
  4,908
  5,810
  6,972
  8,040
  9,190
  10,418
  11,723
  13,103
  14,557
  16,083
  17,682
  19,352
  21,093
  22,907
  24,795
  26,757
  28,797
  30,917
  33,121
  35,410
  37,790
  40,266
EBITDA, $m
  1,146
  1,543
  2,032
  2,620
  3,317
  4,127
  5,055
  6,104
  7,273
  8,564
  9,974
  11,503
  13,147
  14,904
  16,771
  18,745
  20,825
  23,009
  25,296
  27,685
  30,176
  32,771
  35,472
  38,280
  41,198
  44,231
  47,383
  50,659
  54,064
  57,605
Interest expense (income), $m
  65
  123
  196
  288
  401
  537
  699
  886
  1,102
  1,344
  1,615
  1,915
  2,242
  2,596
  2,977
  3,384
  3,816
  4,274
  4,756
  5,262
  5,792
  6,346
  6,923
  7,525
  8,150
  8,801
  9,477
  10,180
  10,911
  11,670
  12,459
Earnings before tax, $m
  503
  707
  956
  1,255
  1,605
  2,010
  2,471
  2,989
  3,563
  4,195
  5,057
  5,799
  6,594
  7,441
  8,339
  9,286
  10,283
  11,327
  12,419
  13,559
  14,747
  15,984
  17,270
  18,607
  19,996
  21,440
  22,940
  24,499
  26,121
  27,807
Tax expense, $m
  136
  191
  258
  339
  433
  543
  667
  807
  962
  1,133
  1,366
  1,566
  1,780
  2,009
  2,251
  2,507
  2,776
  3,058
  3,353
  3,661
  3,982
  4,316
  4,663
  5,024
  5,399
  5,789
  6,194
  6,615
  7,053
  7,508
Net income, $m
  367
  516
  698
  916
  1,172
  1,468
  1,804
  2,182
  2,601
  3,062
  3,692
  4,233
  4,814
  5,432
  6,087
  6,779
  7,506
  8,269
  9,066
  9,898
  10,766
  11,668
  12,607
  13,583
  14,597
  15,651
  16,746
  17,885
  19,068
  20,299

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
  6,703
  9,023
  11,878
  15,321
  19,394
  24,132
  29,557
  35,686
  42,525
  50,071
  58,319
  67,256
  76,868
  87,139
  98,055
  109,600
  121,761
  134,530
  147,900
  161,868
  176,436
  191,609
  207,398
  223,815
  240,879
  258,613
  277,041
  296,193
  316,102
  336,806
Adjusted assets (=assets-cash), $m
  6,703
  9,023
  11,878
  15,321
  19,394
  24,132
  29,557
  35,686
  42,525
  50,071
  58,319
  67,256
  76,868
  87,139
  98,055
  109,600
  121,761
  134,530
  147,900
  161,868
  176,436
  191,609
  207,398
  223,815
  240,879
  258,613
  277,041
  296,193
  316,102
  336,806
Revenue / Adjusted assets
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
  0.906
Average production assets, $m
  3,692
  4,970
  6,543
  8,439
  10,683
  13,293
  16,282
  19,658
  23,425
  27,582
  32,125
  37,048
  42,342
  48,001
  54,013
  60,373
  67,072
  74,106
  81,470
  89,165
  97,189
  105,548
  114,245
  123,288
  132,688
  142,456
  152,607
  163,157
  174,124
  185,529
Working capital, $m
  431
  580
  764
  986
  1,248
  1,552
  1,901
  2,296
  2,735
  3,221
  3,751
  4,326
  4,945
  5,605
  6,307
  7,050
  7,832
  8,654
  9,514
  10,412
  11,349
  12,325
  13,341
  14,397
  15,495
  16,636
  17,821
  19,053
  20,334
  21,665
Total debt, $m
  3,623
  5,326
  7,422
  9,949
  12,939
  16,416
  20,398
  24,897
  29,917
  35,456
  41,509
  48,069
  55,124
  62,664
  70,676
  79,150
  88,076
  97,449
  107,262
  117,515
  128,207
  139,345
  150,933
  162,984
  175,509
  188,525
  202,051
  216,109
  230,723
  245,919
Total liabilities, $m
  4,920
  6,623
  8,719
  11,246
  14,235
  17,713
  21,695
  26,194
  31,213
  36,752
  42,806
  49,366
  56,421
  63,960
  71,972
  80,446
  89,373
  98,745
  108,559
  118,811
  129,504
  140,641
  152,230
  164,280
  176,806
  189,822
  203,348
  217,406
  232,019
  247,216
Total equity, $m
  1,783
  2,400
  3,160
  4,075
  5,159
  6,419
  7,862
  9,493
  11,312
  13,319
  15,513
  17,890
  20,447
  23,179
  26,083
  29,154
  32,389
  35,785
  39,341
  43,057
  46,932
  50,968
  55,168
  59,535
  64,074
  68,791
  73,693
  78,787
  84,083
  89,590
Total liabilities and equity, $m
  6,703
  9,023
  11,879
  15,321
  19,394
  24,132
  29,557
  35,687
  42,525
  50,071
  58,319
  67,256
  76,868
  87,139
  98,055
  109,600
  121,762
  134,530
  147,900
  161,868
  176,436
  191,609
  207,398
  223,815
  240,880
  258,613
  277,041
  296,193
  316,102
  336,806
Debt-to-equity ratio
  2.030
  2.220
  2.350
  2.440
  2.510
  2.560
  2.590
  2.620
  2.640
  2.660
  2.680
  2.690
  2.700
  2.700
  2.710
  2.710
  2.720
  2.720
  2.730
  2.730
  2.730
  2.730
  2.740
  2.740
  2.740
  2.740
  2.740
  2.740
  2.740
  2.740
Adjusted equity ratio
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  367
  516
  698
  916
  1,172
  1,468
  1,804
  2,182
  2,601
  3,062
  3,692
  4,233
  4,814
  5,432
  6,087
  6,779
  7,506
  8,269
  9,066
  9,898
  10,766
  11,668
  12,607
  13,583
  14,597
  15,651
  16,746
  17,885
  19,068
  20,299
Depreciation, amort., depletion, $m
  521
  640
  787
  965
  1,174
  1,418
  1,698
  2,013
  2,365
  2,754
  3,002
  3,462
  3,957
  4,486
  5,048
  5,642
  6,268
  6,926
  7,614
  8,333
  9,083
  9,864
  10,677
  11,522
  12,401
  13,314
  14,262
  15,248
  16,273
  17,339
Funds from operations, $m
  888
  1,157
  1,486
  1,881
  2,346
  2,886
  3,502
  4,195
  4,967
  5,816
  6,694
  7,696
  8,771
  9,918
  11,135
  12,421
  13,775
  15,195
  16,680
  18,232
  19,849
  21,533
  23,284
  25,105
  26,998
  28,965
  31,009
  33,133
  35,341
  37,638
Change in working capital, $m
  118
  149
  184
  221
  262
  305
  349
  394
  440
  485
  531
  575
  618
  661
  702
  743
  782
  821
  860
  899
  937
  976
  1,016
  1,056
  1,098
  1,141
  1,185
  1,232
  1,281
  1,332
Cash from operations, $m
  769
  1,007
  1,302
  1,659
  2,084
  2,581
  3,153
  3,801
  4,527
  5,330
  6,164
  7,121
  8,152
  9,257
  10,433
  11,679
  12,992
  14,373
  15,820
  17,333
  18,912
  20,556
  22,269
  24,049
  25,900
  27,824
  29,823
  31,901
  34,061
  36,306
Maintenance CAPEX, $m
  -250
  -345
  -464
  -612
  -789
  -998
  -1,242
  -1,522
  -1,837
  -2,189
  -2,578
  -3,002
  -3,462
  -3,957
  -4,486
  -5,048
  -5,642
  -6,268
  -6,926
  -7,614
  -8,333
  -9,083
  -9,864
  -10,677
  -11,522
  -12,401
  -13,314
  -14,262
  -15,248
  -16,273
New CAPEX, $m
  -1,016
  -1,278
  -1,573
  -1,896
  -2,244
  -2,610
  -2,989
  -3,376
  -3,767
  -4,157
  -4,543
  -4,923
  -5,295
  -5,658
  -6,013
  -6,359
  -6,699
  -7,034
  -7,365
  -7,694
  -8,025
  -8,358
  -8,697
  -9,043
  -9,400
  -9,768
  -10,151
  -10,550
  -10,967
  -11,405
Cash from investing activities, $m
  -1,266
  -1,623
  -2,037
  -2,508
  -3,033
  -3,608
  -4,231
  -4,898
  -5,604
  -6,346
  -7,121
  -7,925
  -8,757
  -9,615
  -10,499
  -11,407
  -12,341
  -13,302
  -14,291
  -15,308
  -16,358
  -17,441
  -18,561
  -19,720
  -20,922
  -22,169
  -23,465
  -24,812
  -26,215
  -27,678
Free cash flow, $m
  -497
  -616
  -735
  -849
  -948
  -1,027
  -1,079
  -1,097
  -1,077
  -1,016
  -957
  -804
  -605
  -358
  -66
  271
  651
  1,071
  1,530
  2,025
  2,554
  3,115
  3,707
  4,329
  4,978
  5,655
  6,359
  7,089
  7,845
  8,628
Issuance/(repayment) of debt, $m
  1,349
  1,703
  2,096
  2,527
  2,990
  3,477
  3,983
  4,499
  5,019
  5,539
  6,054
  6,560
  7,055
  7,539
  8,012
  8,474
  8,927
  9,372
  9,813
  10,253
  10,693
  11,137
  11,589
  12,050
  12,525
  13,016
  13,526
  14,058
  14,614
  15,196
Issuance/(repurchase) of shares, $m
  124
  101
  61
  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  
  1,473
  1,804
  2,157
  2,527
  2,990
  3,477
  3,983
  4,499
  5,019
  5,539
  6,054
  6,560
  7,055
  7,539
  8,012
  8,474
  8,927
  9,372
  9,813
  10,253
  10,693
  11,137
  11,589
  12,050
  12,525
  13,016
  13,526
  14,058
  14,614
  15,196
Total cash flow (excl. dividends), $m
  976
  1,188
  1,422
  1,678
  2,042
  2,450
  2,904
  3,402
  3,942
  4,523
  5,097
  5,755
  6,451
  7,181
  7,946
  8,745
  9,578
  10,443
  11,343
  12,277
  13,247
  14,252
  15,296
  16,379
  17,504
  18,671
  19,885
  21,146
  22,459
  23,825
Retained Cash Flow (-), $m
  -491
  -617
  -760
  -916
  -1,083
  -1,260
  -1,443
  -1,630
  -1,819
  -2,007
  -2,194
  -2,377
  -2,557
  -2,732
  -2,904
  -3,071
  -3,235
  -3,397
  -3,556
  -3,716
  -3,875
  -4,036
  -4,200
  -4,367
  -4,539
  -4,717
  -4,902
  -5,094
  -5,296
  -5,507
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
  485
  571
  662
  763
  958
  1,190
  1,461
  1,771
  2,123
  2,516
  2,903
  3,378
  3,894
  4,449
  5,043
  5,674
  6,343
  7,047
  7,787
  8,562
  9,372
  10,216
  11,096
  12,012
  12,964
  13,954
  14,983
  16,052
  17,163
  18,318
Discount rate, %
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
  34.58
PV of cash for distribution, $m
  447
  482
  508
  526
  589
  646
  692
  725
  741
  739
  708
  675
  627
  568
  502
  432
  362
  296
  236
  182
  137
  100
  71
  49
  32
  21
  13
  8
  4
  2
Current shareholders' claim on cash, %
  96.6
  94.7
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8
  93.8

Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company's segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company's North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board. As of December 31, 2016, the Company had seven paperboard mills in North America. The Americas Paperboard Packaging segment includes paperboard folding cartons sold primarily to consumer packaged goods (CPG) companies serving the food, beverage and consumer product markets in the Americas. The Europe Paperboard Packaging segment includes paperboard folding cartons sold primarily to CPG companies serving the food, beverage and consumer product markets in Europe. The Corporate and Other segment includes the Pacific Rim operating segment.

FINANCIAL RATIOS  of  Graphic Packaging Holding (GPK)

Valuation Ratios
P/E Ratio 15.9
Price to Sales 0.8
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 10.5
Growth Rates
Sales Growth Rate 3.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.9%
Cap. Spend. - 3 Yr. Gr. Rate 7.1%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 197.6%
Total Debt to Equity 203.6%
Interest Coverage 6
Management Effectiveness
Return On Assets 6.2%
Ret/ On Assets - 3 Yr. Avg. 5%
Return On Total Capital 7.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6%
Return On Equity 21.1%
Return On Equity - 3 Yr. Avg. 17.2%
Asset Turnover 1
Profitability Ratios
Gross Margin 18.4%
Gross Margin - 3 Yr. Avg. 18.8%
EBITDA Margin 15.9%
EBITDA Margin - 3 Yr. Avg. 14.2%
Operating Margin 9.2%
Oper. Margin - 3 Yr. Avg. 8.2%
Pre-Tax Margin 7.4%
Pre-Tax Margin - 3 Yr. Avg. 6.4%
Net Profit Margin 5.3%
Net Profit Margin - 3 Yr. Avg. 4.3%
Effective Tax Rate 29.2%
Eff/ Tax Rate - 3 Yr. Avg. 33.3%
Payout Ratio 28.1%

GPK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GPK stock intrinsic value calculation we used $4403.7 million for the last fiscal year's total revenue generated by Graphic Packaging Holding. The default revenue input number comes from 0001 income statement of Graphic Packaging Holding. 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 GPK stock valuation model: a) initial revenue growth rate of 37.9% 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 8.4%, whose default value for GPK is calculated based on our internal credit rating of Graphic Packaging Holding, 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 Graphic Packaging Holding.
    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 GPK stock the variable cost ratio is equal to 90.8%.

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 GPK 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 5.4% for Graphic Packaging Holding.

Corporate tax rate of 27% is the nominal tax rate for Graphic Packaging Holding. 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 GPK 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 GPK are equal to 60.8%.

Life of production assets of 10.7 years is the average useful life of capital assets used in Graphic Packaging Holding 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 GPK is equal to 7.1%. 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 - $1291.9 million for Graphic Packaging Holding - 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 310.344 million for Graphic Packaging Holding 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 Graphic Packaging Holding at the current share price and the inputted number of shares is $3.6 billion.

RELATED COMPANIES Price Int.Val. Rating
WRK WestRock 45.43 196.20  str.buy

COMPANY NEWS

▶ Graphic Packaging Declares Quarterly Dividend   [Nov-15-18 05:00PM  PR Newswire]
▶ Graphic Packaging: 3Q Earnings Snapshot   [06:56AM  Associated Press]
▶ Graphic Packaging buying cup, carton maker for $95 million   [Aug-28-18 07:15AM  American City Business Journals]
▶ Graphic Packaging Declares Quarterly Dividend   [Jul-26-18 05:00PM  PR Newswire]
▶ Graphic Packaging: 2Q Earnings Snapshot   [06:39AM  Associated Press]
▶ [$$] Graphic Packaging: Price Action   [Jun-25-18 06:00AM  The Wall Street Journal]
▶ Graphic Packaging Acquires Assets of PFP, LLC   [Jun-12-18 05:00PM  PR Newswire]
▶ Graphic Packaging Declares Quarterly Dividend   [May-23-18 05:00PM  PR Newswire]
▶ Top Cheap Stocks To Buy Today   [May-21-18 10:02AM  Simply Wall St.]
▶ Top Undervalued Materials Stocks To Buy   [May-06-18 02:02PM  Simply Wall St.]
▶ Graphic Packaging: 1Q Earnings Snapshot   [Apr-24-18 06:43AM  Associated Press]
▶ 5 Incredible Top-Ranked Stocks Under $20 On Sale   [Feb-20-18 12:30PM  InvestorPlace]
▶ [$$] Boxboard Leader   [06:34AM  The Wall Street Journal]
▶ First Pacific Advisors' Top 5 Buys of the 4th Quarter   [Feb-12-18 05:53PM  GuruFocus.com]
▶ Graphic Packaging misses Street 4Q forecasts   [06:57AM  Associated Press]
▶ Graphic Packaging finalizes $6B partnership   [Jan-02-18 03:35PM  American City Business Journals]
▶ IP's packaging deal is done   [03:07PM  American City Business Journals]
▶ IP enters into $660 million credit agreement   [Dec-12-17 03:30PM  American City Business Journals]
▶ Graphic Packaging Hits 80-Plus Relative Strength Rating Benchmark   [Dec-06-17 03:00AM  Investor's Business Daily]
▶ Georgia manufacturer investing $136 million to modernize Macon mill   [Dec-04-17 02:45PM  American City Business Journals]
▶ Graphic Packaging Declares Quarterly Dividend   [Nov-16-17 05:00PM  PR Newswire]
▶ Graphic Packaging acquires Canadian company and its affiliates   [Nov-09-17 03:20PM  American City Business Journals]

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