Intrinsic value of Green Brick Partners - GRBK

Previous Close

$8.75

  Intrinsic Value

$17.56

stock screener

  Rating & Target

str. buy

+101%

Previous close

$8.75

 
Intrinsic value

$17.56

 
Up/down potential

+101%

 
Rating

str. buy

We calculate the intrinsic value of GRBK 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 0.4

 

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, %
  47.70
  43.43
  39.59
  36.13
  33.02
  30.21
  27.69
  25.42
  23.38
  21.54
  19.89
  18.40
  17.06
  15.85
  14.77
  13.79
  12.91
  12.12
  11.41
  10.77
  10.19
  9.67
  9.20
  8.78
  8.41
  8.07
  7.76
  7.48
  7.23
  7.01
Revenue, $m
  671
  963
  1,344
  1,829
  2,433
  3,168
  4,045
  5,074
  6,260
  7,609
  9,122
  10,800
  12,643
  14,647
  16,810
  19,129
  21,599
  24,217
  26,980
  29,885
  32,931
  36,116
  39,440
  42,905
  46,511
  50,263
  54,162
  58,215
  62,427
  66,804
Variable operating expenses, $m
  568
  814
  1,137
  1,547
  2,058
  2,680
  3,422
  4,292
  5,296
  6,437
  7,717
  9,137
  10,696
  12,392
  14,222
  16,183
  18,273
  20,487
  22,825
  25,283
  27,859
  30,554
  33,366
  36,297
  39,348
  42,522
  45,821
  49,250
  52,813
  56,516
Fixed operating expenses, $m
  11
  11
  12
  12
  12
  13
  13
  13
  13
  14
  14
  14
  15
  15
  15
  16
  16
  16
  17
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
  21
Total operating expenses, $m
  579
  825
  1,149
  1,559
  2,070
  2,693
  3,435
  4,305
  5,309
  6,451
  7,731
  9,151
  10,711
  12,407
  14,237
  16,199
  18,289
  20,503
  22,842
  25,300
  27,876
  30,572
  33,384
  36,316
  39,367
  42,541
  45,841
  49,270
  52,834
  56,537
Operating income, $m
  92
  137
  195
  270
  362
  475
  610
  768
  951
  1,158
  1,391
  1,649
  1,932
  2,241
  2,574
  2,930
  3,310
  3,713
  4,138
  4,585
  5,054
  5,544
  6,056
  6,589
  7,144
  7,721
  8,321
  8,945
  9,593
  10,267
EBITDA, $m
  92
  137
  196
  270
  363
  477
  612
  770
  953
  1,161
  1,394
  1,653
  1,937
  2,247
  2,580
  2,938
  3,319
  3,723
  4,149
  4,597
  5,067
  5,558
  6,071
  6,606
  7,162
  7,741
  8,343
  8,968
  9,618
  10,293
Interest expense (income), $m
  0
  6
  11
  18
  27
  38
  52
  69
  89
  113
  141
  172
  207
  246
  289
  335
  385
  439
  496
  557
  621
  688
  759
  832
  909
  990
  1,073
  1,160
  1,250
  1,344
  1,442
Earnings before tax, $m
  86
  125
  177
  243
  324
  423
  541
  679
  837
  1,017
  1,219
  1,442
  1,686
  1,952
  2,239
  2,545
  2,871
  3,217
  3,582
  3,965
  4,366
  4,786
  5,223
  5,679
  6,154
  6,648
  7,161
  7,695
  8,249
  8,825
Tax expense, $m
  23
  34
  48
  66
  88
  114
  146
  183
  226
  275
  329
  389
  455
  527
  604
  687
  775
  869
  967
  1,070
  1,179
  1,292
  1,410
  1,533
  1,662
  1,795
  1,934
  2,078
  2,227
  2,383
Net income, $m
  63
  92
  129
  177
  237
  309
  395
  496
  611
  743
  890
  1,053
  1,231
  1,425
  1,634
  1,858
  2,096
  2,348
  2,615
  2,894
  3,187
  3,493
  3,813
  4,146
  4,493
  4,853
  5,228
  5,617
  6,022
  6,442

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
  883
  1,267
  1,768
  2,407
  3,201
  4,168
  5,323
  6,676
  8,237
  10,011
  12,003
  14,211
  16,635
  19,273
  22,119
  25,169
  28,419
  31,864
  35,500
  39,322
  43,330
  47,521
  51,895
  56,453
  61,199
  66,135
  71,266
  76,599
  82,141
  87,900
Adjusted assets (=assets-cash), $m
  883
  1,267
  1,768
  2,407
  3,201
  4,168
  5,323
  6,676
  8,237
  10,011
  12,003
  14,211
  16,635
  19,273
  22,119
  25,169
  28,419
  31,864
  35,500
  39,322
  43,330
  47,521
  51,895
  56,453
  61,199
  66,135
  71,266
  76,599
  82,141
  87,900
Revenue / Adjusted assets
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
Average production assets, $m
  1
  2
  3
  4
  5
  6
  8
  10
  13
  15
  18
  22
  25
  29
  34
  38
  43
  48
  54
  60
  66
  72
  79
  86
  93
  101
  108
  116
  125
  134
Working capital, $m
  -11
  -15
  -21
  -29
  -39
  -51
  -65
  -81
  -100
  -122
  -146
  -173
  -202
  -234
  -269
  -306
  -346
  -387
  -432
  -478
  -527
  -578
  -631
  -686
  -744
  -804
  -867
  -931
  -999
  -1,069
Total debt, $m
  209
  334
  497
  706
  965
  1,280
  1,656
  2,097
  2,606
  3,185
  3,834
  4,554
  5,344
  6,204
  7,132
  8,126
  9,186
  10,309
  11,494
  12,740
  14,046
  15,413
  16,839
  18,325
  19,872
  21,481
  23,154
  24,892
  26,699
  28,576
Total liabilities, $m
  288
  413
  576
  785
  1,044
  1,359
  1,735
  2,176
  2,685
  3,264
  3,913
  4,633
  5,423
  6,283
  7,211
  8,205
  9,265
  10,388
  11,573
  12,819
  14,125
  15,492
  16,918
  18,404
  19,951
  21,560
  23,233
  24,971
  26,778
  28,655
Total equity, $m
  595
  854
  1,192
  1,622
  2,158
  2,810
  3,588
  4,500
  5,552
  6,748
  8,090
  9,578
  11,212
  12,990
  14,908
  16,964
  19,155
  21,476
  23,927
  26,503
  29,204
  32,029
  34,977
  38,050
  41,248
  44,575
  48,033
  51,628
  55,363
  59,245
Total liabilities and equity, $m
  883
  1,267
  1,768
  2,407
  3,202
  4,169
  5,323
  6,676
  8,237
  10,012
  12,003
  14,211
  16,635
  19,273
  22,119
  25,169
  28,420
  31,864
  35,500
  39,322
  43,329
  47,521
  51,895
  56,454
  61,199
  66,135
  71,266
  76,599
  82,141
  87,900
Debt-to-equity ratio
  0.350
  0.390
  0.420
  0.440
  0.450
  0.460
  0.460
  0.470
  0.470
  0.470
  0.470
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
  0.480
Adjusted equity ratio
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674
  0.674

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  63
  92
  129
  177
  237
  309
  395
  496
  611
  743
  890
  1,053
  1,231
  1,425
  1,634
  1,858
  2,096
  2,348
  2,615
  2,894
  3,187
  3,493
  3,813
  4,146
  4,493
  4,853
  5,228
  5,617
  6,022
  6,442
Depreciation, amort., depletion, $m
  0
  0
  1
  1
  1
  1
  2
  2
  3
  3
  4
  4
  5
  6
  7
  8
  9
  10
  11
  12
  13
  14
  16
  17
  19
  20
  22
  23
  25
  27
Funds from operations, $m
  63
  92
  130
  178
  238
  310
  397
  498
  614
  746
  893
  1,057
  1,236
  1,431
  1,641
  1,866
  2,105
  2,358
  2,625
  2,906
  3,200
  3,508
  3,829
  4,163
  4,511
  4,873
  5,249
  5,640
  6,047
  6,469
Change in working capital, $m
  -3
  -5
  -6
  -8
  -10
  -12
  -14
  -16
  -19
  -22
  -24
  -27
  -29
  -32
  -35
  -37
  -40
  -42
  -44
  -46
  -49
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -67
  -70
Cash from operations, $m
  66
  97
  136
  186
  247
  322
  411
  514
  633
  767
  918
  1,084
  1,266
  1,463
  1,675
  1,903
  2,144
  2,400
  2,670
  2,953
  3,249
  3,559
  3,882
  4,219
  4,569
  4,933
  5,312
  5,705
  6,114
  6,539
Maintenance CAPEX, $m
  0
  0
  0
  -1
  -1
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -4
  -5
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -16
  -17
  -19
  -20
  -22
  -23
  -25
New CAPEX, $m
  0
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -8
  -9
Cash from investing activities, $m
  0
  -1
  -1
  -2
  -2
  -2
  -3
  -4
  -4
  -6
  -6
  -7
  -8
  -9
  -10
  -12
  -13
  -14
  -16
  -17
  -18
  -19
  -21
  -23
  -24
  -27
  -28
  -30
  -31
  -34
Free cash flow, $m
  66
  96
  135
  184
  245
  320
  408
  510
  628
  762
  912
  1,077
  1,258
  1,454
  1,665
  1,891
  2,132
  2,386
  2,654
  2,936
  3,231
  3,539
  3,861
  4,196
  4,545
  4,907
  5,284
  5,675
  6,082
  6,505
Issuance/(repayment) of debt, $m
  93
  125
  163
  208
  259
  315
  376
  441
  509
  578
  649
  720
  790
  860
  928
  994
  1,059
  1,123
  1,185
  1,246
  1,306
  1,366
  1,426
  1,486
  1,547
  1,609
  1,673
  1,739
  1,807
  1,877
Issuance/(repurchase) of shares, $m
  130
  167
  209
  253
  299
  343
  383
  417
  441
  453
  452
  436
  403
  352
  284
  198
  94
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  223
  292
  372
  461
  558
  658
  759
  858
  950
  1,031
  1,101
  1,156
  1,193
  1,212
  1,212
  1,192
  1,153
  1,123
  1,185
  1,246
  1,306
  1,366
  1,426
  1,486
  1,547
  1,609
  1,673
  1,739
  1,807
  1,877
Total cash flow (excl. dividends), $m
  289
  388
  507
  646
  803
  978
  1,167
  1,368
  1,578
  1,794
  2,013
  2,233
  2,451
  2,666
  2,877
  3,084
  3,286
  3,509
  3,839
  4,182
  4,537
  4,906
  5,287
  5,682
  6,092
  6,516
  6,957
  7,414
  7,889
  8,383
Retained Cash Flow (-), $m
  -192
  -258
  -338
  -430
  -536
  -652
  -778
  -912
  -1,052
  -1,196
  -1,342
  -1,488
  -1,634
  -1,778
  -1,918
  -2,056
  -2,190
  -2,322
  -2,450
  -2,576
  -2,701
  -2,825
  -2,948
  -3,073
  -3,198
  -3,327
  -3,459
  -3,594
  -3,735
  -3,882
Prev. year cash balance 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
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
  110
  129
  169
  215
  268
  326
  389
  456
  526
  598
  671
  744
  817
  889
  959
  1,028
  1,095
  1,187
  1,389
  1,606
  1,836
  2,081
  2,339
  2,609
  2,893
  3,189
  3,498
  3,820
  4,154
  4,501
Discount rate, %
  6.80
  7.14
  7.50
  7.87
  8.27
  8.68
  9.11
  9.57
  10.05
  10.55
  11.08
  11.63
  12.21
  12.82
  13.46
  14.14
  14.84
  15.59
  16.37
  17.18
  18.04
  18.94
  19.89
  20.89
  21.93
  23.03
  24.18
  25.39
  26.66
  27.99
PV of cash for distribution, $m
  103
  113
  136
  159
  180
  198
  211
  220
  222
  219
  211
  199
  183
  164
  144
  124
  104
  88
  78
  67
  56
  46
  36
  28
  20
  15
  10
  7
  4
  3
Current shareholders' claim on cash, %
  76.8
  60.8
  49.5
  41.3
  35.2
  30.6
  27.1
  24.5
  22.4
  20.8
  19.6
  18.6
  17.9
  17.4
  17.1
  16.9
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8
  16.8

Green Brick Partners, Inc. operates in the real estate industry. The Company operates through two segments. The builder operations segment includes its controlled builders results, which include building and selling single-family detached homes and townhomes that are designed and built to meet local customer preferences, and the sale of lots. Builder operations consist of three operating segments: Texas, Georgia, and corporate and other. Corporate operations segment develops and implements strategic initiatives and supports its builder operations and land development by centralizing certain administrative functions, such as finance, treasury, information technology and human resources. The land development segment includes operations related to the acquisition and development of land, which is sold to its controlled builders and third-party homebuilders. As of December 31, 2016, it had owned or controlled over 5,200 home sites in various locations in the Dallas and Atlanta markets.

FINANCIAL RATIOS  of  Green Brick Partners (GRBK)

Valuation Ratios
P/E Ratio 17.9
Price to Sales 1.1
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow -61.2
Price to Free Cash Flow -61.2
Growth Rates
Sales Growth Rate 30.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio NaN
LT Debt to Equity 2.9%
Total Debt to Equity 22.3%
Interest Coverage 0
Management Effectiveness
Return On Assets 4.7%
Ret/ On Assets - 3 Yr. Avg. 8%
Return On Total Capital 5.4%
Ret/ On T. Cap. - 3 Yr. Avg. 8.8%
Return On Equity 6.4%
Return On Equity - 3 Yr. Avg. 13.3%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 22.6%
Gross Margin - 3 Yr. Avg. 22.5%
EBITDA Margin 13.4%
EBITDA Margin - 3 Yr. Avg. 14%
Operating Margin 12.4%
Oper. Margin - 3 Yr. Avg. 12.7%
Pre-Tax Margin 13.4%
Pre-Tax Margin - 3 Yr. Avg. 13.4%
Net Profit Margin 6.3%
Net Profit Margin - 3 Yr. Avg. 10.6%
Effective Tax Rate 31.4%
Eff/ Tax Rate - 3 Yr. Avg. -4.1%
Payout Ratio 0%

GRBK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GRBK stock intrinsic value calculation we used $454.374 million for the last fiscal year's total revenue generated by Green Brick Partners. The default revenue input number comes from 0001 income statement of Green Brick Partners. 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 GRBK stock valuation model: a) initial revenue growth rate of 47.7% 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 6.8%, whose default value for GRBK is calculated based on our internal credit rating of Green Brick Partners, 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 Green Brick Partners.
    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 GRBK stock the variable cost ratio is equal to 84.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $11 million in the base year in the intrinsic value calculation for GRBK 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 Green Brick Partners.

Corporate tax rate of 27% is the nominal tax rate for Green Brick Partners. 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 GRBK 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 GRBK are equal to 0.2%.

Life of production assets of 2.6 years is the average useful life of capital assets used in Green Brick Partners 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 GRBK is equal to -1.6%. 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 - $416.347 million for Green Brick Partners - 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 50.72 million for Green Brick Partners 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 Green Brick Partners at the current share price and the inputted number of shares is $0.4 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ Green Brick Partners: 3Q Earnings Snapshot   [Nov-05-18 07:45PM  Associated Press]
▶ Green Brick Partners, Inc. Launches Trophy Signature Homes   [Oct-24-18 04:24PM  GlobeNewswire]
▶ Who Owns Green Brick Partners Inc (NASDAQ:GRBK)?   [Sep-27-18 07:39AM  Simply Wall St.]
▶ 5 Real Estate Stocks in Gurus' Portfolios   [Sep-13-18 05:52PM  GuruFocus.com]
▶ Green Brick Partners, Inc. to Host Earnings Call   [Aug-07-18 10:00AM  ACCESSWIRE]
▶ Green Brick Partners: 2Q Earnings Snapshot   [Aug-06-18 05:52PM  Associated Press]
▶ Its Time to Grab Office Depot Inc Stock on the Upswing   [May-17-18 10:28AM  InvestorPlace]
▶ Green Brick Partners, Inc. to Host Earnings Call   [Mar-13-18 08:00AM  ACCESSWIRE]
▶ Green Brick Partners reports 4Q loss   [Mar-12-18 06:19PM  Associated Press]
▶ Park City Group And Other Top Growth Stocks   [Feb-21-18 11:02AM  Simply Wall St.]
▶ Green Brick Partners posts 3Q profit   [Nov-06-17 05:05PM  Associated Press]
▶ John Rogers Continues to Buy Accenture, Novartis, Apache   [Aug-30-17 05:24PM  GuruFocus.com]
▶ 5 Real Estate Companies Gurus Are Buying   [Aug-28-17 03:50PM  GuruFocus.com]
▶ Green Brick Partners Expands into Colorado   [Aug-15-17 12:56PM  Marketwired]
▶ Green Brick Partners posts 2Q profit   [Aug-07-17 11:58PM  Associated Press]
▶ Green Brick Partners posts 1Q profit   [May-08-17 05:42PM  Associated Press]
▶ Green Brick Partners posts 4Q profit   [Mar-13-17 04:47PM  Associated Press]

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