Quick Value #241 - From Debt to Equity
From 7 years of repaying debt to 100% allocation to shareholder returns
Today’s idea:
An overpriced acquisition in 2016 led to high debt
Spent 7 years repaying debt (100% capital allocation)
Stock is ridiculously cheap at <9x FCF with 2.1x leverage
Repurchased 5% of shares in 3 quarters of inaugural buyback authorization
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