Company Quick10K Filing
Golden Growers Cooperative
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-03-06
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-15
10-K 2018-12-31 Filed 2019-03-08
10-Q 2018-09-30 Filed 2018-11-13
10-Q 2018-06-30 Filed 2018-08-13
10-Q 2018-03-31 Filed 2018-05-11
10-K 2017-12-31 Filed 2018-03-09
10-Q 2017-09-30 Filed 2017-11-13
10-Q 2017-06-30 Filed 2017-08-11
10-Q 2017-03-31 Filed 2017-05-12
10-K 2016-12-31 Filed 2017-03-07
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-12
10-Q 2016-03-31 Filed 2016-05-16
10-K 2015-12-31 Filed 2016-03-30
10-Q 2015-09-30 Filed 2015-11-16
10-Q 2015-06-30 Filed 2015-08-14
10-Q 2015-03-31 Filed 2015-05-15
10-K 2014-12-31 Filed 2015-03-31
10-Q 2014-09-30 Filed 2014-11-14
10-Q 2014-06-30 Filed 2014-08-14
10-Q 2014-03-31 Filed 2014-05-15
10-K 2013-12-31 Filed 2014-03-31
10-Q 2013-09-30 Filed 2013-11-14
10-Q 2013-06-30 Filed 2013-08-14
10-Q 2013-03-31 Filed 2013-05-15
10-K 2012-12-31 Filed 2013-04-01
10-Q 2012-09-30 Filed 2012-11-14
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-15
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-31
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
8-K 2020-03-26 Shareholder Vote
8-K 2019-03-28 Amend Bylaw, Shareholder Vote, Exhibits
8-K 2018-04-02 Shareholder Vote

Golden Growers Cooperative Financials

GGRO Metrics, Comps, Filings

Quarterly | Annual

Business

Golden Growers Cooperative is a value-added agricultural cooperative association owned by 1,543 members primarily from Minnesota, North Dakota and South Dakota, all of whom deliver corn to the Cooperative for processing into a value-added product. The Cooperative was originally formed in 1994 as a North Dakota agricultural cooperative. On September 1, 2009, by way of a series of mergers, the Cooperative changed its domicile and form of entity from a North Dakota cooperative to a Minnesota cooperative association governed under Minnesota Statutes Chapter 308B. A Minnesota cooperative association formed under Minnesota Statutes 308B operates as a cooperative for state law purposes, but is taxed as a partnership under Subchapter K of the Internal Revenue Code for tax purposes.

The Cooperative was originally formed in 1994 as a North Dakota cooperative with the goal of allowing its members to receive additional value from the corn that they grow through the processing of that corn into value-added products, such as corn sweeteners. The Cooperative accomplished this purpose by forming a joint venture with American Crystal Sugar Company (“American Crystal”) that formed ProGold Limited Liability Company (“ProGold”), a Minnesota limited liability company that designed and constructed a corn wet-milling facility in Wahpeton, North Dakota to process corn into high fructose corn syrup and related co-products. The Cooperative’s membership in ProGold included a right and obligation for the Cooperative to deliver corn to the ProGold facility for processing. The Cooperative’s members delivered corn to the ProGold facility on the Cooperative’s behalf to meet this delivery obligation.

On November 1, 1997, ProGold entered into an operating lease with Cargill Incorporated (“Cargill”) for the entire ProGold facility. Cargill has operated the facility continually since this time. On April 4, 2017, ProGold and Cargill entered into a Second Amended and Restated Facility Lease, which commenced on January 1, 2018 and continues through December 31, 2022. The lease will be automatically extended for one year in the event that either (i) Cargill has not, prior to December 31, 2021, exercised an option to purchase American Crystal’s 50% interest in ProGold pursuant to an Option Agreement between Cargill and American Crystal dated as of April 4, 2017 and effective as of January 1, 2018 or (ii) if the parties have not otherwise mutually agreed to extend or terminate the lease. While ProGold no longer operates the wet-milling facility, the Cooperative, through its members, continues to have the obligation to deliver corn directly to Cargill at the wet-milling facility for processing into high fructose corn syrup and related co-products. For more information regarding the Second Amended and Restated Facility Lease and the Option Agreement, see “Business Operations” and “Ownership in ProGold.”


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Stemcell Holdings (STMM) 113% -1.0 26% 12,033 6,023 7,314 8,235 3,099 4,927 -5,116
FCCC (FCCC) 1.5 -61% 92 3 0 0 -56 -56 -82
Tapinator (TAPM) 0% 0.1 -99% 1,783 952 4,323 0 -1,762 -1,762 -260
Nogales Resources (NLRT) 0% 1 188 0 0 0 0 -1
Golden Growers Cooperative (GGRO) -0% 0% 26,919 2,171 42,425 -45 0 0 -3,508
Northern Power Systems (NPS) 22% 0.4 -27% 8,927 13,901 18,317 4,050 -2,379 -1,701 -670
Twin River Worldwide (TRWH) 0% 4.0 4% 1,070,918 808,153 393,158 0 41,775 112,100 449,560
Bio-En (BENH) 0.1 -643% 10 149 0 0 -67 -67 -5
Southwest Iowa Renewable Energy (SIRE) -1% -47.3 -1% 140,863 51,558 216,993 -1,931 -1,170 -537 25,396
Texas Republic Capital (TRCC) 0% 8.9 -5% 26,315 14,988 931 0 -1,274 -1,274 -11,328
Fannie Mae (FNM) 28.1 0% 3,494,436,000 3,484,094,000 0 0 13,025,000 119,732,000 3,361,548,000
CBA Florida (CBAI) 43.6 -1% 14,544 598 0 0 -211 -261 -11,368
Pacific Gold & Royalty (PCFG) -7.1 0 3,799 0 -3 -238 -45 320
BoxScore Brands (BOXS) 33% -8.3 -540% 313 7,564 338 110 -1,690 -702 5,793
Quest Management (QUEST) 27% -0.3 129% 13 6 45 12 16 16 -5
Zhen Ding Resources (RBTK) 0.1 48,309,900% 0 0 -483 -68 -6
Hines Global REIT (HGRI) 0% 1.7 19% 2,010,946 999,520 205,149 0 388,366 421,651 715,767
Wadena (WDN) 0% 0.0 -2,344% 12 696 87 0 -281 -278 -5
Galera Therapeutics (GRTX) 1.3 -17% 79,758 52,298 0 0 -13,351 -12,433 -15,719
Chase General (CSGN) 26% -0.5 -2% 1,563 1,016 2,493 658 -32 13 -7

Balance Sheet ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash6843,1612,2031,8771,0493,4192,6982,3021,3723,8183,1542,5951,7153,3292,4831,5537853,3712,2721,7881,1723,0842,7923,3295,8556,2615,8035,4697,3752,4032,0011,7393,508
Accounts Receivable45
Inventory
PP&E533211887766554433322111
Assets47,55648,93246,75144,95843,33644,74242,99540,95838,85740,23638,42036,57534,65635,88534,26932,11129,39430,63028,61326,56524,54225,71523,83823,58123,74926,05326,47225,43224,91026,27326,04925,30525,37026,919
Accounts Payable232224127322367179237078231215216812
Long-Term Debt
Liabilities1341861752611693,278251282983,140413253,10521622153,56630012613,2552225312,16922615102,169213142,171
Stockholders' Equity47,52948,90746,72444,82743,30041,61742,92340,77438,85337,13438,41636,44334,65132,78034,05331,89029,38927,06428,36126,44524,54122,46023,61623,52823,74823,88426,24625,28124,91024,10425,83625,30425,36624,748
Income Statement ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue20,04719,59719,49526,13622,15121,16223,38926,17329,68720,66611,41020,85415,44912,95612,05919,00515,91011,5549,90117,79513,00712,6648,66917,36716,07710,28610,86414,34017,43310,95615,38814,95612,081
Cost of Revenue20,06619,63019,52226,15822,17321,19223,41226,19324,69820,69711,42820,87615,46012,98012,08219,02715,93211,5879,92917,81713,02912,6998,69517,39016,08610,30910,86714,35517,44010,97115,40214,97112,097
Gross Profit-19-33-27-22-22-30-23-204,989-31-18-22-11-24-23-22-22-33-28-22-22-35-26-23-9-23-3-15-7-15-14-15-16
R&D
SG&A245127155154217226264313238148170210261121130213139138130169174104127206234125102172166117168147122
Tax0000
Net Income1,5531,172
Cash Flow ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating-175-68-329-262-241-219-436-176-193-92-342-141-160-307-187-65-188-36-310-723316-576-137-83-49-262-105-144-135-96
Cash Investing2,6262,9952,5992,6322,6192,9232,6042,6302,6272,6322,8701,7552,4122,6312,8272,6512,6522,6502,7922,6352,645-12,6632,6572,0852,0972,0112,0972,0421,865
Cash Financing-3,409-3,253-3,0980-3,099-3,100-3,098-8-3,098-3,099-3,4080-3,098-3,254-3,4080-3,563-3,098-3,0980-3,253-2,2150-2,168-2,494-2,1690-2,355-2,1690