My notes from 30 min check. No position. Decided against it purely becoz i have many stocks that have a customer concentration risk. This is another one like that..WSTG - WAYSIDE TECHNOLOGY GROUP.IT RESELLER / Distributor.Wayside Technology Group, Inc. is an information technology (“IT”) channel company. We resell software and hardware developed by others and provide technical services directly to customers in the United States and Canada.sales of hardware and peripherals represented only 4%The Company had three customers that accounted for more than 10% of total sales for 2011. For the year ended December 31, 2011, CDW Corporation, Insight and Software House International accounted for 14.0%, 11.0% and 10.5%, respectively,Our top five customers accounted for 42%, 44%, and 36% of consolidated net sales in 2011, 2010 and 2009, respectively.q4 is big for them. 1/3 of profit. 43 cents.q1 is weakest.Shares : 4.7Price 13.5Market cap 64mcash 9.2 + 5.3 = $14.5mCash per share = $3.1ev = $50mWc = 65 - 46 = 20m ( includes $14m of cash)ppe = 0ic = 20mebit = 8.6mroic = ebit/ic = 8.6/20 = 43% pre tax.ev/ebit = 50/8.6 = 5.8x! not expensive. not dirt cheap..reasonably cheap. NI 5.5mEPS $1.2P/E = 13.5/1.2 = 11x.. and with extra cashP/E ex cash = 8.6x!eps GROWTH last 3 years 0.65, 0.98, $1.2 ...20% or moreSales growth 146m -> 206m -> 250m!! wow. 25% or more.FCF = $5.5m or $2.5m if u count for wc...recivables always more than payables by 3mbuyback 1.5mdividend 3mtotal return $4.5m (7% yield on market cap)On EV of $50m, its 9% yield.P/FCF = 64/5.5 = 11.6xEV/FCF = 50/5.5 = 9x reasonably cheap.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M