MCW

Mister Car Wash Inc

Consumer


Presented:01/13/2022
Price:$17.40
Cap:$5.17B
Current Price:$6.44
Cap:$2.07B

Presented

Date01/13/2022
Price$17.40
Market Cap$5.17B
Ent Value$6.62B
P/E RatioN/A
Book Value$2.05
Div Yield0%
Shares O/S297.34M
Ave Daily Vol964,002
Short Int1.40%

Current

Price$6.44
Market Cap$2.07B
Mister Car Wash, Inc. offers exterior and interior car cleaning services. It offers a monthly subscription program, which is Unlimited Wash that includes unlimited car washes for a monthly charge with benefits like dedicated member only lanes using RFID technology. The company was founded in 1996 and is headquartered in Tucson, AZ.

Publicly traded companies mentioned herein: Mister Car Wash Inc (MCW)

Highlights

The presenter is long shares of Mister Car Wash Inc (MCW), a recent IPO (6/25/21 at $15) majority-owned by Leonard Green that has adopted an extremely aggressive acquisition strategy across many geographies to roll out its unlimited car wash package. Trading at 23.4x EBITDA, it is not a cheap stock by any means, but this subscription model allows it to more than triple monthly revenues from a large subset of its customer base. He sees the company rolling up fragmented local markets and expanding their footprint through greenfield locations, thereby increasing penetration on a business with high unit economics. Based on a DCF valuation, the presenter feels there is an upside for the current $17/share to reach the high-$20 to low-$30 range over the next three years. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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