|Shares Out. (in M):||357||P/E||61.9x||23.0x|
|Market Cap (in $M):||5,082||P/FCF||25.0x||15.1x|
|Net Debt (in $M):||2,484||EBIT||692||891|
Sign up for free guest access to view investment idea with a 45 days delay.
MAS’ unique portfolio of recessionary-proof products (Plumbing, Paint) and leverage to new housing starts provides an opportunity to participate in the recovery in residential construction at the same time raw material costs are moderating (base metals flat/down and TiO2 growth slowing) and prior year marketing/investment spending materialize. We believe MAS could trade to ~$21 in 12-18 months with additional upside once the housing cycle becomes consensus and MAS proves their prior years’ spending and cost initiatives are succeeding. 2010-2011 were transitional years for MAS with disappointing Cabinets and Installation, continued weakness in new residential construction, and margin erosion due to higher commodity costs and marketing investments. Please the attached file with tables and charts:http://www.scribd.com/doc/100863119
MAS manufactures, distributes, and installs home improvement and building products, with emphasis on brand-name consumer products, and is among the largest manufacturers in North America of faucets, cabinets, architectural paints and windows. In addition, the Installation segment holds a leadership position in insulation installation in the new home construction market. In 2011, ~25% of Sales were for new construction and 24% of Sales were international (45% of Plumbing and 25% of Cabinets and Specialty), which was mainly in Central Europe (37%), UK (23%), Emerging Markets (12%), and Eastern Europe (9%). The flagship brands of Delta and Hansgrohe in Plumbing and Behr in Decorative Architectural (Paint) are resilient businesses that have a proven ability to implement price increases and pass on rising commodity costs, product differentiation among competitors, and are non-cyclical consumer products. The company is organized into 5 segments as follows:
Catalysts & Opportunities:
|show sort by|
Are you sure you want to close this position MASCO CORP?
By closing position, I’m notifying VIC Members that at today’s market price, I no longer am recommending this position.
Are you sure you want to Flag this idea MASCO CORP for removal?
Flagging an idea indicates that the idea does not meet the standards of the club and you believe it should be removed from the site. Once a threshold has been reached the idea will be removed.
You currently do not have message posting privilages, there are 1 way you can get the privilage.
Apply for or reactivate your full membership
You can apply for full membership by submitting an investment idea of your own. Or if you are in reactivation status, you need to reactivate your full membership.
What is wrong with message, "".