Tech Data: Great Business At A Bargain Basement Valuation [Seeking Alpha]
TECH DATA (TECD)
Last tech data earnings: 3/5 06:00 am
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US:NASDAQ Investor Relations:
tecd.client.shareholder.com
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Source: Seeking Alpha
Summary Tech Data ( TECD ) has traded poorly over the past year as concerns over heightened industry competition and missed earnings expectations have taken their toll. From a high of $111, TECD stock now languishes in the mid $80s. A deal also to purchase Avnet’s Technology Solutions business (the “TS business”) has also added a measure of uncertainty to the picture. Throw in a retiring CEO and you get a stock trading at a tremendous bargain at only 8.2x 2018 earnings, and at a mere 6.4x EBITDA. The good news is, this is an extremely well-run company, one that generates slow but steady growth, tons of FCF and solid ROEs year in and year out. As a distributor of IT products, it doesn’t matter who wins the tech wars. It only matters that technology spending continues upward. Indeed, EPS has grown over the past five years at a compounded annual growth rate of 13%, Returns on Equity (ROEs) continue to impress at 12% last year, and even the most recent quarter showed solid organic
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