6/20/24 - $fdx - Great biz but lacks juice6/20/24 :: VROCKSTAR :: NYSE:FDX
Great biz but lacks juice
You'll have to forgive me fam, i'm out in vegas this week and in Miami next. i keep on top of it all tho as u know. except for i mis typed FDS which reports tmr and i'm writing up as we speak... and typed in the wrong ticker - so that's why i'm writing this lol
- 3.5% fcf yield. good. but for co that's not >5% (or better 10%) on the top line for tech, that's just better 10Y stuff. nothing i'd want to have sized up in my portfolio
- 14x PE looks cheap but remember this cash cow has like 35 bn of debt on 60+ bn of equity. that's not an ideal factor in this environment, so adj. for the debt and PE is really closer to 21x
- 21x is good, again, not great, growth should be 20% which makes 1x peg good... and... can you guess... not great.
so setup on the stock all else equal skews more +ve into results but this toppy tape is not one you can step into names unless u know the beats/ raises and multiples will expand. the charts already tell us the mkt will need more here.
so i'd rather just watch it on the sidelines. gl to holders.
V
