Sonoco, SON, one I recently added. They very much reshuffled their portfolio in the last 2 years, adding more metal/can manufacturing, just closed a disposition 11/3/25, so they're close to their target leverage ratio now. The reshuffling also created a lot of purchased intangibles, so cash EPS is a lot higher than GAAP, and they're under 8x cash EPS.
Good stuff, thanks for the writeup.
Sonoco, SON, one I recently added. They very much reshuffled their portfolio in the last 2 years, adding more metal/can manufacturing, just closed a disposition 11/3/25, so they're close to their target leverage ratio now. The reshuffling also created a lot of purchased intangibles, so cash EPS is a lot higher than GAAP, and they're under 8x cash EPS.
Thanks for sharing! Going to take a look!
Loved the case studies! Do you think Diageo could fit this theme now?