Added to YB: 2023-01-31
Pitch date: 2023-01-26
IRO.V [bullish]
Inter-Rock Minerals Inc.
Author Info
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Company Info
Inter-Rock Minerals Inc., through its subsidiaries, produces and distributes specialty feed ingredients in the United States and Canada.
Market Cap
CAD 16.0M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.12
P/E
9.59
EV/Sales
0.11
Sector
Food Products
Category
value
Inter-Rock Minerals - All about the inflection point
IRO.V: Animal feed distributor, 95% US sales, grew 12% annually. Q4 saw 70% rev growth from price increases; if annualized, trades ~3x EV/EBITDA, 3.86x EV/FCF (26% yield). Net cash $3.8M after Mill Creek sale. Mgmt owns 48%, plans 8.8% buyback. Risk: cyclical commodity exposure, competitive pressure on 11-13% margins. Thesis hinges on Q4 results sustaining.
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