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Greif, Inc. produces and sells industrial packaging products and services worldwide. The last earnings update was 60 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Greif (GEF) | 2.4% | -1.4% | -21.6% | -30% | 64.7% | -20% |
US Packaging | 2.1% | 8.5% | 3.1% | -6.6% | 41.8% | 22.8% |
US Market | 1.2% | 6.6% | 1.2% | 0.9% | 44.3% | 41.3% |
Is Greif undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Greif.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
Discount Rate (Cost of Equity) | See below | 11.8% |
Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
Data Point | Calculation/ Source | Result |
---|---|---|
Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
Equity Risk Premium | S&P Global | 7.3% |
Packaging Unlevered Beta | Simply Wall St/ S&P Global | 0.91 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.907 (1 + (1- 21%) (46.9%)) |
1.243 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.24 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.243 * 7.27%) |
11.77% |
Discounted Cash Flow Calculation for NYSE:GEF using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Greif is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
2019 | 2020 | 2021 | 2022 | 2023 | |
Levered FCF (USD, Millions) | 182.00 | 213.78 | 206.75 | 199.95 | 193.38 |
Source | Analyst x3 | Analyst x4 | Est @ -3.29% | Est @ -3.29% | Est @ -3.29% |
Present Value Discounted (@ 11.77%) |
162.84 | 171.12 | 148.07 | 128.12 | 110.86 |
Present value of next 5 years cash flows | $721.02 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $193.38 × (1 + 2.73%) ÷ (11.77% – 2.73%) |
$2,197.66 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $2,197.66 ÷ (1 + 11.77%)5 |
$1,259.93 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $721.02 + $1,259.93 |
$1,980.95 |
Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,980.95 / 47.95 |
$41.31 |
Calculation | Result | |
---|---|---|
Value per share (USD) | From above. | $41.31 |
Current discount | Discount to share price of
$39.95
= -1 x ($39.95 - $41.31) / $41.31 |
3.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-10-31) in USD | $4.37 |
NYSE:GEF Share Price ** | NYSE (2019-02-15) in USD | $39.95 |
United States of America Packaging Industry PE Ratio | Median Figure of 15 Publicly-Listed Packaging Companies | 17.69x |
United States of America Market PE Ratio | Median Figure of 3,045 Publicly-Listed Companies | 16.97x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Greif.
Calculation | Outcome | |
---|---|---|
PE Ratio | = NYSE:GEF Share Price ÷ EPS (both in USD) = 39.95 ÷ 4.37 |
9.14x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 9.14x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
5.4%per year |
United States of America Packaging Industry PEG Ratio | Median Figure of 15 Publicly-Listed Packaging Companies | 1.76x |
United States of America Market PEG Ratio | Median Figure of 2,115 Publicly-Listed Companies | 1.36x |
*Line of best fit is calculated by linear regression .
Calculation | Outcome | |
---|---|---|
PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 9.14x ÷ 5.4% |
1.68x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-10-31) in USD | $23.10 |
NYSE:GEF Share Price * | NYSE (2019-02-15) in USD | $39.95 |
United States of America Packaging Industry PB Ratio | Median Figure of 19 Publicly-Listed Packaging Companies | 3.59x |
United States of America Market PB Ratio | Median Figure of 5,122 Publicly-Listed Companies | 1.82x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = NYSE:GEF Share Price ÷ Book Value per Share (both in USD) = 39.95 ÷ 23.10 |
1.73x |
* Primary Listing of Greif.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
How is Greif expected to perform in the next 1 to 3 years based on estimates from 5 analysts?
Data Point | Source | Value (per year) |
---|---|---|
NYSE:GEF Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 5.4% |
NYSE:GEF Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 1.7% |
United States of America Packaging Industry Earnings Growth Rate | Market Cap Weighted Average | 14.6% |
United States of America Packaging Industry Revenue Growth Rate | Market Cap Weighted Average | 2.5% |
United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.3% |
United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (3 months ago) | See Below |
Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|---|---|---|---|
2020-10-31 | 4,009 | 370 | 234 | 5 |
2019-10-31 | 3,925 | 332 | 218 | 5 |
Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-10-31 | 3,874 | 253 | 209 |
2018-07-31 | 3,854 | 256 | 203 |
2018-04-30 | 3,804 | 294 | 179 |
2018-01-31 | 3,723 | 295 | 170 |
2017-10-31 | 3,638 | 305 | 119 |
2017-07-31 | 3,538 | 248 | 94 |
2017-04-30 | 3,421 | 259 | 96 |
2017-01-31 | 3,373 | 283 | 91 |
2016-10-31 | 3,324 | 301 | 75 |
2016-07-31 | 3,325 | 291 | 79 |
2016-04-30 | 3,410 | 291 | 41 |
2016-01-31 | 3,486 | 240 | 31 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (3 months ago) | See Below |
Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Greif Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|---|---|---|---|
2020-10-31 | 3.97 | 4.21 | 3.80 | 3.00 |
2019-10-31 | 3.71 | 3.77 | 3.60 | 3.00 |
Date (Data in USD Millions) | EPS * |
---|---|
2018-10-31 | 4.37 |
2018-07-31 | 4.23 |
2018-04-30 | 3.74 |
2018-01-31 | 3.55 |
2017-10-31 | 2.48 |
2017-07-31 | 1.96 |
2017-04-30 | 2.01 |
2017-01-31 | 1.91 |
2016-10-31 | 1.57 |
2016-07-31 | 1.65 |
2016-04-30 | 0.86 |
2016-01-31 | 0.64 |
*GAAP earnings excluding extraordinary items.
How has Greif performed over the past 5 years?
All data from Greif Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-10-31 | 3,873.80 | 209.40 | 403.80 | |
2018-07-31 | 3,854.20 | 202.60 | 405.70 | |
2018-04-30 | 3,803.90 | 178.80 | 396.80 | |
2018-01-31 | 3,723.00 | 169.70 | 387.60 | |
2017-10-31 | 3,638.20 | 118.60 | 380.60 | |
2017-07-31 | 3,537.70 | 93.80 | 382.60 | |
2017-04-30 | 3,420.90 | 96.00 | 382.80 | |
2017-01-31 | 3,373.10 | 91.40 | 380.20 | |
2016-10-31 | 3,323.60 | 74.90 | 376.80 | |
2016-07-31 | 3,324.50 | 78.80 | 376.30 | |
2016-04-30 | 3,409.50 | 41.30 | 380.60 | |
2016-01-31 | 3,485.80 | 30.70 | 394.60 | |
2015-10-31 | 3,616.70 | 71.90 | 413.20 | |
2015-07-31 | 3,796.30 | 68.20 | 429.20 | |
2015-04-30 | 3,990.30 | 73.30 | 461.40 | |
2015-01-31 | 4,139.90 | 90.90 | 485.60 | |
2014-10-31 | 4,239.10 | 91.50 | 496.70 | |
2014-07-31 | 4,183.70 | 117.00 | 498.70 | |
2014-04-30 | 4,189.40 | 150.00 | 486.00 | |
2014-01-31 | 4,212.80 | 151.80 | 475.20 | |
2013-10-31 | 4,219.90 | 144.70 | 476.50 | |
2013-07-31 | 4,302.80 | 136.30 | 476.30 | |
2013-04-30 | 4,276.00 | 127.10 | 475.10 | |
2013-01-31 | 4,285.30 | 124.30 | 471.90 | |
2012-10-31 | 4,129.50 | 118.10 | 461.60 | |
2012-07-31 | 4,325.60 | 115.70 | 458.40 | |
2012-04-30 | 4,344.70 | 144.30 | 450.10 |
*GAAP earnings excluding extraordinary items.
How is Greif's financial health and their level of debt?
All data from Greif Company Filings, last reported 3 months ago.
Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-10-31 | 1,189.70 | 962.10 | 94.20 |
2018-07-31 | 1,192.00 | 1,092.30 | 100.90 |
2018-04-30 | 1,163.10 | 1,098.20 | 108.20 |
2018-01-31 | 1,160.00 | 1,086.10 | 94.30 |
2017-10-31 | 1,079.00 | 1,019.80 | 142.30 |
2017-07-31 | 1,072.50 | 1,111.60 | 94.60 |
2017-04-30 | 1,019.80 | 1,127.40 | 87.00 |
2017-01-31 | 997.70 | 1,157.00 | 106.80 |
2016-10-31 | 989.70 | 1,078.50 | 103.70 |
2016-07-31 | 1,026.50 | 1,167.40 | 94.30 |
2016-04-30 | 1,035.90 | 1,206.80 | 89.60 |
2016-01-31 | 990.30 | 1,221.70 | 65.30 |
2015-10-31 | 1,059.90 | 1,230.90 | 106.20 |
2015-07-31 | 1,092.50 | 1,273.00 | 101.70 |
2015-04-30 | 1,103.70 | 1,259.40 | 67.40 |
2015-01-31 | 1,148.30 | 1,249.80 | 55.80 |
2014-10-31 | 1,223.20 | 1,196.60 | 85.10 |
2014-07-31 | 1,384.10 | 1,367.90 | 65.00 |
2014-04-30 | 1,409.80 | 1,430.10 | 87.40 |
2014-01-31 | 1,374.60 | 1,496.60 | 82.00 |
2013-10-31 | 1,379.90 | 1,325.50 | 78.10 |
2013-07-31 | 1,335.10 | 1,466.80 | 94.90 |
2013-04-30 | 1,337.60 | 1,491.10 | 85.60 |
2013-01-31 | 1,338.20 | 1,568.90 | 91.60 |
2012-10-31 | 1,310.80 | 1,321.10 | 91.50 |
2012-07-31 | 1,349.70 | 1,453.80 | 91.70 |
2012-04-30 | 1,411.90 | 1,545.80 | 104.90 |
What is Greif's current dividend yield, its reliability and sustainability?
Data Point | Source | Value |
---|---|---|
Past Annualized Dividend Yield | S&P Global Market Data | See Below |
Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
United States of America Packaging Industry Average Dividend Yield | Market Cap Weighted Average of 13 Stocks | 2.6% |
United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1998 Stocks | 2.5% |
United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
---|---|---|
2020-10-31 | 1.76 | 3.00 |
2019-10-31 | 1.76 | 3.00 |
Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2018-12-04 | 1.760 | 4.473 |
2018-08-28 | 1.760 | 3.429 |
2018-06-05 | 1.680 | 3.101 |
2018-02-27 | 1.680 | 2.996 |
2017-12-05 | 1.680 | 2.826 |
2017-08-29 | 1.680 | 3.000 |
2017-06-06 | 1.680 | 2.986 |
2017-02-28 | 1.680 | 2.986 |
2016-12-06 | 1.680 | 3.052 |
2016-08-30 | 1.680 | 3.434 |
2016-06-07 | 1.680 | 4.244 |
2016-03-01 | 1.680 | 5.112 |
2015-12-08 | 1.680 | 6.066 |
2015-09-01 | 1.680 | 5.025 |
2015-06-02 | 1.680 | 4.986 |
2015-03-03 | 1.680 | 4.206 |
2014-12-09 | 1.680 | 3.901 |
2014-08-26 | 1.680 | 3.734 |
2014-06-03 | 1.680 | 3.201 |
2014-02-24 | 1.680 | 3.191 |
2013-12-09 | 1.680 | 3.253 |
2013-09-03 | 1.680 | 3.223 |
2013-06-04 | 1.680 | 3.093 |
2013-02-25 | 1.680 | 3.314 |
2012-12-05 | 1.680 | 3.610 |
2012-09-07 | 1.680 | 3.906 |
2012-09-04 | 1.680 | 3.726 |
2012-06-06 | 1.680 | 4.001 |
2012-03-01 | 1.680 | 3.312 |
2011-12-06 | 1.680 | 3.518 |
2011-08-30 | 1.680 | 3.628 |
2011-06-07 | 1.680 | 2.789 |
2011-02-28 | 1.680 | 2.635 |
2010-12-07 | 1.680 | 2.659 |
2010-08-31 | 1.680 | 2.836 |
2010-06-01 | 1.680 | 2.933 |
2010-02-22 | 1.520 | 2.777 |
2009-12-08 | 1.520 | 2.911 |
2009-09-01 | 1.520 | 2.770 |
2009-06-02 | 1.520 | 3.180 |
2009-02-23 | 1.520 | 4.088 |
2009-02-19 | 1.520 | 5.314 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Peter G. Watson, also known as Pete, has been the Chief Executive Officer and President of Greif, Inc. since November 1, 2015. Mr. Watson served as the Chief Operating Officer at Greif, Inc. (Formerly, Greif Brothers Corp) from January 1, 2014 to November 1, 2015. He served as Vice President and Division President of Paper Packaging & Services at Greif, Inc. from January 2010 to September 2012. He served as Vice President, Service Solutions and General Manager of Sheet Plant Operations, Containerboard & Corrugated Products at Greif Brothers Corp., since 1999. During 1996 to 1999, he served as Vice President and General Manager at Concept Packaging Group. For more than five years, he served as General Manager for Union Camp Corporation. Mr. Watson has been a Director of Greif, Inc. since December 8, 2015.
Average tenure and age of the Greif management team in years:
Average tenure and age of the Greif board of directors in years:
Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
---|---|---|---|---|---|---|---|---|---|---|
10. Jan 19 | Buy | Hari Kumar | Individual | 09. Jan 19 | 09. Jan 19 | 4,501 | $38.87 | $174,954 | ||
02. Jan 19 | Buy | Ole Rosgaard | Individual | 31. Dec 18 | 31. Dec 18 | 3,000 | $36.11 | $108,330 | ||
28. Dec 18 | Buy | Peter Watson | Individual | 27. Dec 18 | 27. Dec 18 | 10,000 | $33.26 | $332,600 | ||
20. Mar 18 | Sell | GAMCO Investors, Inc. | Company | 24. Jan 18 | 27. Feb 18 | -32,001 | $59.76 | $0 | ||
20. Mar 18 | Buy | GAMCO Investors, Inc. | Company | 31. Jan 18 | 19. Mar 18 | 120,400 | $59.19 | $1,085,919 |
(NYSE:GEF) is a true Dividend Rock Star. … Below, I have outlined more attractive dividend aspects for Greif for income investors who may be interested in new dividend stocks for their portfolio. … consistent, reliable and competitive dividend over a long period of time, and is expected to continue to pay in the same manner many years to come
Simply Wall St - – Full articleThis article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Greif, Inc.'s (NYSE:GEF) P/E ratio and reflect on what it tells us about the company's share price. … Greif has a price to earnings ratio of 8.87, based on the last twelve months.
Simply Wall St - – Full articleWith that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Greif has a return on equity of 19% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleEvery stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
Simply Wall St - – Full articleInvestors are always looking for growth in small-cap stocks like Greif, Inc. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.
Simply Wall St - – Full articleby estimating the company's future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleImportant news for shareholders and potential investors in Greif, Inc. … (NYSE:GEF): The dividend payment of US$0.44 per share will be distributed to shareholders on 01 January 2019, and the stock will begin trading ex-dividend at an earlier date, 17 December 2018. … stable and consistent dividend, having done so reliably for the past decade with the expectation of this continuing into the future
Simply Wall St - – Full articleYour equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Greif’s capital returns we will look at a useful metric called return on capital employed.
Simply Wall St - – Full articleSo we'll take a look at whether insiders have been buying or selling shares in Greif Inc (NYSE:GEF). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Greif Insider Transactions Over The Last Year.
Simply Wall St - – Full articleI've been keeping an eye on Greif Inc (NYSE:GEF) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe GEF has a lot to offer. … , dividend-paying company with a
Simply Wall St - – Full article
Greif, Inc. produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services. This segment sells its products to customers in the chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical and mineral products, and others industries. The Paper Packaging & Services segment provides containerboards, corrugated sheets, corrugated containers, and other corrugated products to customers in the packaging, automotive, food, and building products industries. This segment’s corrugated container products are used to ship various products, such as home appliances, small machinery, grocery products, automotive components, books, and furniture, as well as various other applications. The Flexible Products & Services segment offers flexible intermediate bulk containers comprising polypropylene-based woven fabric, as well as related services to the agricultural, food, and other industries. The Land Management segment engages in harvesting and regeneration of timber properties; and sale of timberland and special use land. As of October 31, 2018, this segment owned approximately 243,000 acres of timber property in the southeastern United States. The company was formerly known as Greif Bros. Corporation and changed its name to Greif, Inc. in 2001. Greif, Inc. was founded in 1877 and is headquartered in Delaware, Ohio.
Name: | Greif, Inc. |
GEF | |
Exchange: | NYSE |
Founded: | 1877 |
$2,051,570,450 | |
47,949,004 | |
Website: | http://www.greif.com |
Address: |
Greif, Inc. 425 Winter Road, Delaware, Ohio, 43015, United States |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
NYSE | GEF | Class A Common Stock | New York Stock Exchange | US | USD | 14. Dec 1972 | |
DB | GR3 | Class A Common Stock | Deutsche Boerse AG | DE | EUR | 14. Dec 1972 | |
NYSE | GEF.B | Class B Common Stock | New York Stock Exchange | US | USD | 04. Mar 1996 |
Metal and Glass Containers | |
Materials |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/18 01:41 |
End of day share price update: | 2019/02/15 00:00 |
Last estimates confirmation: | 2019/02/15 |
Last earnings filing: | 2018/12/20 |
Last earnings reported: | 2018/10/31 |
Last annual earnings reported: | 2018/10/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.