Thursday, June 8, 2017

AMWD’s Uniform Adjusted EPS’ is greater than reported, implying valuations are not as expensive as they initially appear

  • AMWD’s profitability is materially distorted by accounting for operating leases and stock option expenses under GAAP

  • As such, their UAFRS EPS’ is expected to grow to $5.29 this year, 15% higher than as-reported EPS of $4.60

  • After making the appropriate UAFRS adjustments, AMWD is trading at a 16.0x Uniform P/E, which is a material discount to many other firms in the Building Products industry

http://ift.tt/2sZKlnd



Submitted June 08, 2017 at 09:06PM by Valens_Research http://ift.tt/2s24yM2

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