Intrinsic value of Summit Hotel Properties - INN

Previous Close

$13.89

  Intrinsic Value

$9.05

stock screener

  Rating & Target

sell

-35%

Previous close

$13.89

 
Intrinsic value

$9.05

 
Up/down potential

-35%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as INN.

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

We calculate the intrinsic value of INN 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.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Summit Hotel Properties (INN) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

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, %
  2.38
  16.10
  14.99
  13.99
  13.09
  12.28
  11.55
  10.90
  10.31
  9.78
  9.30
  8.87
  8.48
  8.13
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
Revenue, $m
  474
  550
  633
  721
  816
  916
  1,022
  1,133
  1,250
  1,372
  1,500
  1,633
  1,771
  1,916
  2,065
  2,221
  2,383
  2,551
  2,726
  2,908
  3,096
  3,293
  3,498
  3,711
  3,933
  4,164
  4,406
  4,658
  4,921
  5,195
  5,482
Variable operating expenses, $m
 
  401
  461
  525
  594
  667
  744
  825
  910
  999
  1,092
  1,189
  1,290
  1,395
  1,504
  1,617
  1,735
  1,857
  1,984
  2,117
  2,254
  2,397
  2,546
  2,702
  2,863
  3,032
  3,207
  3,391
  3,582
  3,782
  3,991
Fixed operating expenses, $m
 
  48
  49
  51
  52
  53
  55
  56
  57
  59
  60
  62
  63
  65
  66
  68
  70
  72
  73
  75
  77
  79
  81
  83
  85
  87
  89
  92
  94
  96
  99
Total operating expenses, $m
  391
  449
  510
  576
  646
  720
  799
  881
  967
  1,058
  1,152
  1,251
  1,353
  1,460
  1,570
  1,685
  1,805
  1,929
  2,057
  2,192
  2,331
  2,476
  2,627
  2,785
  2,948
  3,119
  3,296
  3,483
  3,676
  3,878
  4,090
Operating income, $m
  82
  102
  123
  146
  170
  196
  223
  252
  283
  315
  348
  382
  419
  456
  495
  536
  578
  622
  668
  716
  765
  817
  870
  926
  985
  1,046
  1,109
  1,175
  1,245
  1,317
  1,393
EBITDA, $m
  154
  127
  152
  179
  207
  238
  270
  304
  340
  377
  416
  457
  500
  544
  590
  638
  688
  739
  793
  849
  907
  968
  1,031
  1,096
  1,165
  1,236
  1,311
  1,389
  1,470
  1,555
  1,644
Interest expense (income), $m
  26
  25
  30
  35
  40
  45
  51
  57
  64
  71
  78
  85
  93
  101
  110
  118
  128
  137
  147
  157
  168
  179
  190
  202
  215
  228
  241
  255
  270
  285
  301
Earnings before tax, $m
  107
  76
  93
  111
  130
  151
  172
  195
  219
  244
  270
  297
  325
  355
  386
  418
  451
  485
  521
  559
  598
  638
  680
  724
  770
  818
  868
  920
  975
  1,032
  1,091
Tax expense, $m
  -1
  21
  25
  30
  35
  41
  46
  53
  59
  66
  73
  80
  88
  96
  104
  113
  122
  131
  141
  151
  161
  172
  184
  196
  208
  221
  234
  248
  263
  279
  295
Net income, $m
  108
  56
  68
  81
  95
  110
  126
  142
  160
  178
  197
  217
  238
  259
  282
  305
  329
  354
  381
  408
  436
  466
  497
  529
  562
  597
  634
  672
  711
  753
  797

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  35
  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
  1,719
  1,958
  2,252
  2,567
  2,903
  3,260
  3,636
  4,033
  4,448
  4,883
  5,338
  5,811
  6,304
  6,817
  7,350
  7,904
  8,480
  9,078
  9,700
  10,347
  11,019
  11,719
  12,447
  13,206
  13,996
  14,820
  15,679
  16,575
  17,511
  18,488
  19,509
Adjusted assets (=assets-cash), $m
  1,684
  1,958
  2,252
  2,567
  2,903
  3,260
  3,636
  4,033
  4,448
  4,883
  5,338
  5,811
  6,304
  6,817
  7,350
  7,904
  8,480
  9,078
  9,700
  10,347
  11,019
  11,719
  12,447
  13,206
  13,996
  14,820
  15,679
  16,575
  17,511
  18,488
  19,509
Revenue / Adjusted assets
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
  0.281
Average production assets, $m
  109
  126
  145
  165
  187
  210
  234
  259
  286
  314
  343
  374
  406
  439
  473
  509
  546
  584
  624
  666
  709
  754
  801
  850
  901
  954
  1,009
  1,067
  1,127
  1,190
  1,255
Working capital, $m
  0
  -41
  -47
  -53
  -60
  -68
  -76
  -84
  -93
  -102
  -111
  -121
  -131
  -142
  -153
  -164
  -176
  -189
  -202
  -215
  -229
  -244
  -259
  -275
  -291
  -308
  -326
  -345
  -364
  -384
  -406
Total debt, $m
  652
  767
  891
  1,024
  1,165
  1,315
  1,474
  1,641
  1,816
  1,999
  2,190
  2,389
  2,597
  2,813
  3,037
  3,271
  3,513
  3,765
  4,027
  4,299
  4,582
  4,877
  5,183
  5,503
  5,835
  6,182
  6,544
  6,921
  7,315
  7,727
  8,156
Total liabilities, $m
  708
  824
  948
  1,081
  1,222
  1,372
  1,531
  1,698
  1,873
  2,056
  2,247
  2,446
  2,654
  2,870
  3,094
  3,328
  3,570
  3,822
  4,084
  4,356
  4,639
  4,934
  5,240
  5,560
  5,892
  6,239
  6,601
  6,978
  7,372
  7,784
  8,213
Total equity, $m
  1,010
  1,134
  1,304
  1,486
  1,681
  1,887
  2,105
  2,335
  2,576
  2,827
  3,090
  3,365
  3,650
  3,947
  4,256
  4,576
  4,910
  5,256
  5,617
  5,991
  6,380
  6,785
  7,207
  7,646
  8,104
  8,581
  9,078
  9,597
  10,139
  10,705
  11,296
Total liabilities and equity, $m
  1,718
  1,958
  2,252
  2,567
  2,903
  3,259
  3,636
  4,033
  4,449
  4,883
  5,337
  5,811
  6,304
  6,817
  7,350
  7,904
  8,480
  9,078
  9,701
  10,347
  11,019
  11,719
  12,447
  13,206
  13,996
  14,820
  15,679
  16,575
  17,511
  18,489
  19,509
Debt-to-equity ratio
  0.646
  0.680
  0.680
  0.690
  0.690
  0.700
  0.700
  0.700
  0.700
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
  0.720
Adjusted equity ratio
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579
  0.579

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  108
  56
  68
  81
  95
  110
  126
  142
  160
  178
  197
  217
  238
  259
  282
  305
  329
  354
  381
  408
  436
  466
  497
  529
  562
  597
  634
  672
  711
  753
  797
Depreciation, amort., depletion, $m
  72
  25
  29
  33
  37
  42
  47
  52
  57
  63
  69
  75
  81
  88
  95
  102
  109
  117
  125
  133
  142
  151
  160
  170
  180
  191
  202
  213
  225
  238
  251
Funds from operations, $m
  140
  81
  97
  114
  132
  152
  172
  194
  217
  241
  266
  292
  319
  347
  376
  407
  438
  471
  505
  541
  578
  617
  657
  699
  742
  788
  835
  885
  937
  991
  1,048
Change in working capital, $m
  2
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -16
  -17
  -18
  -19
  -19
  -20
  -21
Cash from operations, $m
  138
  86
  103
  121
  139
  159
  180
  202
  226
  250
  275
  301
  329
  358
  387
  418
  450
  484
  518
  554
  592
  631
  672
  714
  759
  805
  853
  904
  956
  1,011
  1,069
Maintenance CAPEX, $m
  0
  -22
  -25
  -29
  -33
  -37
  -42
  -47
  -52
  -57
  -63
  -69
  -75
  -81
  -88
  -95
  -102
  -109
  -117
  -125
  -133
  -142
  -151
  -160
  -170
  -180
  -191
  -202
  -213
  -225
  -238
New CAPEX, $m
  -245
  -18
  -19
  -20
  -22
  -23
  -24
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
Cash from investing activities, $m
  -154
  -40
  -44
  -49
  -55
  -60
  -66
  -73
  -79
  -85
  -92
  -99
  -107
  -114
  -122
  -131
  -139
  -148
  -157
  -167
  -176
  -187
  -198
  -209
  -221
  -233
  -246
  -260
  -273
  -288
  -304
Free cash flow, $m
  -16
  47
  59
  71
  85
  99
  114
  130
  147
  165
  183
  202
  222
  243
  265
  288
  311
  336
  361
  388
  416
  444
  474
  505
  538
  572
  607
  644
  683
  723
  765
Issuance/(repayment) of debt, $m
  -20
  115
  124
  133
  141
  150
  159
  167
  175
  183
  191
  199
  208
  216
  224
  233
  242
  252
  262
  272
  283
  295
  307
  319
  333
  347
  362
  377
  394
  411
  430
Issuance/(repurchase) of shares, $m
  111
  103
  102
  102
  100
  97
  92
  87
  81
  74
  66
  57
  48
  38
  27
  16
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  89
  218
  226
  235
  241
  247
  251
  254
  256
  257
  257
  256
  256
  254
  251
  249
  246
  252
  262
  272
  283
  295
  307
  319
  333
  347
  362
  377
  394
  411
  430
Total cash flow (excl. dividends), $m
  72
  266
  285
  305
  326
  346
  365
  384
  403
  422
  440
  459
  478
  497
  517
  537
  558
  588
  623
  660
  699
  739
  781
  825
  871
  919
  969
  1,022
  1,077
  1,135
  1,195
Retained Cash Flow (-), $m
  -157
  -159
  -170
  -182
  -195
  -206
  -218
  -229
  -241
  -252
  -263
  -274
  -285
  -297
  -309
  -321
  -333
  -346
  -360
  -374
  -389
  -405
  -422
  -439
  -458
  -477
  -497
  -519
  -542
  -566
  -591
Prev. year cash balance distribution, $m
 
  35
  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
 
  142
  115
  123
  131
  139
  147
  155
  162
  170
  177
  185
  192
  200
  208
  216
  225
  241
  263
  286
  309
  334
  359
  386
  413
  442
  472
  503
  535
  569
  604
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
 
  133
  100
  99
  97
  94
  89
  84
  78
  72
  65
  58
  51
  45
  38
  33
  27
  23
  19
  16
  13
  10
  8
  6
  4
  3
  2
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100
  93.2
  87.8
  83.3
  79.6
  76.6
  74.1
  72.1
  70.4
  69.0
  67.9
  67.1
  66.4
  65.9
  65.6
  65.5
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4
  65.4

Summit Hotel Properties, Inc. is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company's portfolio consists of 83 hotels with a total of 12,242 guestrooms located in 26 states. The Company's hotels are located in markets, such as business and corporate headquarters, retail centers, airports and tourist attractions. The Company's portfolio is located in urban and suburban markets. Based on total number of guestrooms, approximately 89% of the Company's portfolio is positioned in over 50 metropolitan statistical areas (MSAs), and approximately 96% is located within over 100 MSAs. Based on total number of guestrooms, approximately 99% of the Company's hotels operate under franchise brands owned by Marriott International, Inc., Hilton Worldwide, InterContinental Hotels Group, and an affiliate of Hyatt Hotels Corporation.

FINANCIAL RATIOS  of  Summit Hotel Properties (INN)

Valuation Ratios
P/E Ratio 12
Price to Sales 2.7
Price to Book 1.3
Price to Tangible Book
Price to Cash Flow 9.4
Price to Free Cash Flow -12.1
Growth Rates
Sales Growth Rate 2.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 3.4%
Cap. Spend. - 3 Yr. Gr. Rate -11.3%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 64.6%
Total Debt to Equity 64.6%
Interest Coverage 5
Management Effectiveness
Return On Assets 8.2%
Ret/ On Assets - 3 Yr. Avg. 7.2%
Return On Total Capital 6.8%
Ret/ On T. Cap. - 3 Yr. Avg. 5.6%
Return On Equity 11.6%
Return On Equity - 3 Yr. Avg. 9.8%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 37.6%
Gross Margin - 3 Yr. Avg. 36.4%
EBITDA Margin 43.2%
EBITDA Margin - 3 Yr. Avg. 39.5%
Operating Margin 17.5%
Oper. Margin - 3 Yr. Avg. 15.5%
Pre-Tax Margin 22.6%
Pre-Tax Margin - 3 Yr. Avg. 18.3%
Net Profit Margin 22.8%
Net Profit Margin - 3 Yr. Avg. 18.3%
Effective Tax Rate -0.9%
Eff/ Tax Rate - 3 Yr. Avg. 1.5%
Payout Ratio 62%

INN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INN stock intrinsic value calculation we used $474 million for the last fiscal year's total revenue generated by Summit Hotel Properties. The default revenue input number comes from 2016 income statement of Summit Hotel Properties. 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 INN stock valuation model: a) initial revenue growth rate of 16.1% 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 INN is calculated based on our internal credit rating of Summit Hotel Properties, 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 Summit Hotel Properties.
    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 INN stock the variable cost ratio is equal to 72.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $47 million in the base year in the intrinsic value calculation for INN 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 3.9% for Summit Hotel Properties.

Corporate tax rate of 27% is the nominal tax rate for Summit Hotel Properties. 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 INN 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 INN are equal to 22.9%.

Life of production assets of 1.5 years is the average useful life of capital assets used in Summit Hotel Properties 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 INN is equal to -7.4%. 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 - $1010 million for Summit Hotel Properties - 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 105.712 million for Summit Hotel Properties 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 Summit Hotel Properties at the current share price and the inputted number of shares is $1.5 billion.

RELATED COMPANIES Price Int.Val. Rating
AHT Ashford Hospit 5.80 20.50  str.buy
RLJ RLJ Lodging Tr 21.24 10.88  str.sell
HPT Hospitality Pr 26.50 4.72  str.sell
CHSP Chesapeake Lod 25.99 4.88  str.sell
SOHO Sotherly Hotel 5.95 4.31  sell
AHP Ashford Hospit 8.81 3.25  str.sell
HT Hersha Hospita 17.36 4.98  str.sell

COMPANY NEWS

▶ Summit Hotel Properties, Inc. to Host Earnings Call   [Feb-22-18 08:30AM  ACCESSWIRE]
▶ Summit Hotel Properties reports 4Q results   [05:03AM  Associated Press]
▶ Summit Hotel Properties reports 3Q results   [Oct-30-17 06:29PM  Associated Press]
▶ Crowdfund a downpayment for a home   [Oct-12-17 01:40PM  Yahoo Finance Video]
▶ Summit Hotel Properties reports 2Q results   [Aug-04-17 01:49AM  Associated Press]
▶ Summit Hotel Properties Appoints Independent Director   [Jul-10-17 04:35PM  PR Newswire]
▶ Summit Hotel Properties reports 1Q results   [May-04-17 05:03AM  Associated Press]
▶ Cincinnatis 1st Dolce Hotel tops out, gets a new name: PHOTOS   [Mar-22-17 10:25AM  at bizjournals.com]
▶ Cincinnatis 1st Dolce Hotel tops out, gets a new name: PHOTOS   [10:25AM  American City Business Journals]
▶ Summit Hotel Properties reports 4Q results   [Feb-23-17 05:17PM  Associated Press]
▶ Is Summit Hotel Properties Inc (INN) A Good Stock to Buy?   [Dec-12-16 10:32PM  at Insider Monkey]
▶ Nurse strike at Allina hospitals was good for this business   [Nov-08-16 03:25PM  at bizjournals.com]
Financial statements of INN
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.