A Growing US Business for 1x FCF
A capital-light platform generating $100m FCF, trading at 1x EV/FCF, with zero debt and active buybacks.
I found a way to access a Bloomberg-level terminal for 90% less. Here’s how →
The market is pricing this business like it’s about to disappear.
It’s generating $100m in annual cash flow.
And, you can buy the entire operation for just over $100m after adjusting for the net-cash.
That’s roughly 1x FCF.
No growth required. No turnaround needed. Just survival.
And yet, revenues are still growing.
Cash flow is still compounding.
The business just cut 30% of its workforce, and none of that benefit is fully reflected yet.
So why is it this cheap?
Because the market believes something has fundamentally broken.
That the core product is becoming obsolete.
That demand is evaporating.
That this is the beginning of a slow decline to zero.
The evidence in the reports suggest this isn’t the case.
When a business with this level of liquidity, this kind of operating efficiency, and this much embedded data is priced like it won’t make it through the next couple of years, I start investigating.
Because if it doesn’t die…
This isn’t just cheap.
It’s absurd.