Jan. 13 at 9:08 PM
$PYYX fine find anthropogenic, added 1% position in my cash account, 5% in my Roth ira, none in 401k. Comes out to about a 0.5% position overall.
Just looking at the debt profile, revenue, profit margin, and free cash flow, I think it's an insanely good setup to go 2 - 5x over the next 3 years without any growth whatsoever. But I have a feeling it probably won't rerate until the long-term debt is refinanced, and if I were management, I would be waiting until late 2026 or early 2027 when interest rates are expected to be lower. The biggest rub is it's tobacco, and the regulatory risk is not immaterial, especially with the minimum liquidity.
Sharing is caring, thanks again for this pearl.