SITE

SiteOne Landscape Supply Inc

Industrial/Transportation


Presented:10/17/2019
Price:$78.51
Cap:$3.24B
Current Price:$146.09
Cap:$6.59B

Presented

Date10/17/2019
Price$78.51
Market Cap$3.24B
Ent Value$3.80B
P/E Ratio49.83x
Book Value$8.41
Div Yield0%
Shares O/S41.21M
Ave Daily Vol307,554
Short Int18.64%

Current

Price$146.09
Market Cap$6.59B
SiteOne Landscape Supply, Inc. engages in the distribution of commercial and residential landscape supplies. Its products include outdoor lighting, nursery, landscape supplies, fertilizers, turf protection products, grass seed, turf care equipment, and golf course accessories for green industry professionals. The company was founded in 2001 and is headquartered in Roswell, GA.

Publicly traded companies mentioned herein: Deere & Company (DE), SiteOne Landscaping Supply (SITE)

Highlights

The presenter is short shares of SiteOne Landscaping Supply (SITE), a $3.3B market cap company that provides landscaping supplies such as irrigation products, fertilizer, nursery goods, outdoor lights, pavers, and accessories in the US and Canada. The company owns an 11% market share in a very fragmented market ($19B TAM defined by the company). The stock is currently trading at ~$78 per share, which is ~21x 2019 EBITDA and ~18.5x 2020 EBITDA. While bulls believe that SITE can grow the business organically at mid-single-digits with additional growth through acquisitions of mom-and-pops, the presenter thinks that the growth model is flawed in a few ways and sees 50% - 60% of downside from here.

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Idea Discussion

Commentor 1 - 2 weeks ago

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