Quick Value #293 - Turnaround + Management Change
Large cap turnaround story... pandemic-era earnings collapse, high leverage, poorly timed buybacks... iconic tool brands trading at 14.5x depressed earnings
Today’s post:
Shares down 18% YTD & 65% over 5 years
Supernormal COVID earnings collapse + poorly timed mega-buyback left this company overlevered
Divestitures + earnings recovery underway… turnaround plan targeting 2x earnings increase over 3 years
Iconic power tool brands trading at 14.5x earnings / 9x EBITDA / 3.8x leverage
Quick reminder — For newer subscribers, my write-ups are meant to be a “jumping off point” for the idea generation process (i.e. a surface level review). Check out past write-ups here and my home base page here.
Recent write-ups include:
11/10/25 — Dole fully deleveraged, cheap, kickstarting buybacks
10/27/25 — ONEOK is a cheap midstream energy co
10/20/25 — Net-net in oilfield services ($)
10/13/25 — Solstice spin off from Honeywell
10/06/25 — Divestitures and delevering at Leggett & Platt ($)