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No. of Recommendations: 2
posted for whatever inspiration you want

Before your read further, what is your impression of Denny's Restaurant?
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Cramer mentions DENN.
- I briefly look at it
- who cares about it - who loves that restaurant; nobody

BUT

-3 year CFFO at 191157, Capex only 54480, Net Sales of Units -13221, Dividends and buybacks 82715
- repeat that - net CFFO is 191157 with net CapEx at 41259
- they are selling units - capex has been going down but they are doing a lot of remodels
- NOLs - significant - current deferred tax asset of 24108, noncurrent at 17620, and not all is in these; which explains why the CFFO is higher than NI + DA
- trailing Ni + DA is 56m but TTM CFFO is 72m; if you aren't paying attention to the BS or cash flow statement or you 'screen't this w/a PE as a primary number, you'll miss it

Stock is 1b or so. BS is ok but with net debt.

--

I'm not recommending you buy this
but what is your initial impression of.....

**************DENNY's*****************

Bet it isn't great
And you probably wouldn't look at it
Neither would I
Grubby little stock

But boy you can learn a lot by just forcing yourself to scan the 10K BS, IS, and esp the CF statement
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