SN

SharkNinja Inc.

Consumer


Presented:05/03/2024
Price:$66.08
Cap:$9.24B
Current Price:$107.93
Cap:$15.10B

Presented

Date05/03/2024
Price$66.08
Market Cap$9.24B
Ent Value$7.90B
P/E Ratio55.12x
Book Value$10.63
Div Yield0%
Shares O/S139.82M
Ave Daily Vol1,032,103
Short IntN/A

Current

Price$107.93
Market Cap$15.10B
SharkNinja, Inc. is a global product design and technology company, which offers solutions for consumers around the world. It operates the business through the below categories of products: Cleaning Appliances, Cooking & Beverage, Food Preparation Appliances, and Other. Cleaning Appliances include corded & cordless vacuums, including handheld & robotic vacuums, as well as other floorcare products, such as steam mops and wet/dry cleaning floor products. Cooking & Beverage Appliances include air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters, and bakeware. Food Preparation Appliances include blenders, food processors, stand mixers, ice cream makers, and juicers. The Other category includes beauty appliances, such as hair dryers and stylers, home environment products, such as air purifiers, humidifiers and garment care products. The company was founded by Mark Rosenzweig in 1997 and is headquartered in Needham, MA.

Publicly traded companies mentioned herein: SharkNinja Inc (SN)

Highlights

The presenter is long shares of SharkNinja Inc (SN), which is comprised of its Shark and Ninja brands. The Shark brand sells houseware, cleaning, and personal care products, and the Ninja brand sells kitchen and food preparation products. The company excels at disrupting more expensive consumer products with cheaper alternatives that are almost as good, such as its Shark FlexStyle (Dyson Airwrap dupe), and its core competencies in product road mapping and marketing has allowed SN to grow from less than $250MM in 2008 to $4.2B in 2023 without any acquisitions. He expects the strong growth to continue, leading to EPS of $4.25 in 2024 and $5 in 2025 compared to consensus estimates of $3.61 and $4.02, respectively. Underwriting an undemanding 16x multiple on his 2025 EPS leads to an $80 price target (+21%) within a year, with incremental upside up to 20x 2025 EPS depending on the magnitude of the company’s earnings beats.

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