Thanks. What ist the sharecount you are using to calculate your bull/base/bear EPS? I think you have to use the diluted sharecount as pref share are fully convertible at a 1:1 ratio.
For sure - also heard from enough people that skipped on Constellation at various times over valuation concerns, which throws an extra wrench in trying to value it if it can follow down the same path.
Quality write-up! I have it on my watchlist to make the jump if there is a drawback in price. I just cannot pay a P/E of 80+ for any company... I think your back of the envelope valuation is perfect
I'm in the same boat - bought during the lows late last year. There have definitely been bigger gains in other names since that time, but glad I was able to get in on such a quality business at a (relative) discount. Thanks for reading and sharing Kevin!
Great summary of the company! Thank for sharing. Cheers!
Appreciate it Max - thanks for reading, too!
Excellent in-depth analysis! I've shared the link to this great write-up in the latest edition of RhinoInsight's Roundup.
https://rhinoinsight.substack.com/p/the-friday-roundup-256?utm_source=activity_item
Appreciate the share and the read! On that Christmas day grind!
Thanks. What ist the sharecount you are using to calculate your bull/base/bear EPS? I think you have to use the diluted sharecount as pref share are fully convertible at a 1:1 ratio.
I used total shares outstanding at 81.9m. That's a great point though, you're totally right. I'll have to rework the figures a bit.
no worries. yeah im struggling to make the valuation case with the full share count. great company but its tough at this price.
For sure - also heard from enough people that skipped on Constellation at various times over valuation concerns, which throws an extra wrench in trying to value it if it can follow down the same path.
Quality write-up! I have it on my watchlist to make the jump if there is a drawback in price. I just cannot pay a P/E of 80+ for any company... I think your back of the envelope valuation is perfect
I'm in the same boat - bought during the lows late last year. There have definitely been bigger gains in other names since that time, but glad I was able to get in on such a quality business at a (relative) discount. Thanks for reading and sharing Kevin!
An excellent in-depth look at a company that is not widely followed nor has any research coverage.
Thanks Zach, appreciate the read! Definitely not as much as I think it deserves, at least!