... available now for 2016 prices.

More like last half 2017 or early 2019 measured in US dollars, but I get your point.

I guess the problem is, despite their being a formidable firm, it isn't one that has demonstrated any value progress in a long time. In the last five-or-so years, sales and earnings are flat, revenue and cash flow are flat to down, debt is up. A flattish price makes some sense in the face of flattish observable value.

This isn't a bearish call by any means. I had been waiting for them to be on sale (relative to usual) for a long time, and I appreciate many of the things that they have historically been very good at. But now I look and I have to decide if they're just having a rough patch or truly damaged goods. And I don't have enough insight into which it is.

If it were dirt cheap that would offer a margin of safety to cover some of my ignorance, but we aren't there yet.

Jim

Falling Knives FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.