Jun. 30 at 11:03 PM
$CPRT This is a balance sheet and hidden asset valuation argument focused on re-rating potential rather than operational acceleration alone.
The thesis highlights that reported book value may significantly understate real economic value, particularly for land holdings recorded at historical cost. With recent Florida land transactions cited in the
$300K–
$1.6M per acre range, the implied mark-to-market value of 18–20k acres could be materially higher than balance sheet figures suggest.
Combined with ~
$4B in cash and ~
$1.2B in annual free cash flow, the argument frames the stock as offering a mix of liquid assets, real estate optionality, and recurring cash generation that is not fully reflected in the current ~
$28 share price.
