Professional
Added to YB: 2024-03-06
Pitch date: 2024-03-04
REH.AX [neutral]
Reece Limited
-35.95%
current return
Author Info
Sweet Stocks is a former portfolio manager at an international small cap fund who shares pitches for international equities. Sign up for his blog.
Company Info
Reece Limited engages in the distribution of plumbing, waterworks, heating, ventilation, air-conditioning, and refrigeration products to commercial and residential customers in Australia, New Zealand, and the United States.
Market Cap
AUD 10.6B
Pitch Price
AUD 26.82
Price Target
33.79 (+96%)
Dividend
1.06%
EV/EBITDA
16.61
P/E
39.24
EV/Sales
1.39
Sector
Trading Companies and Distributors
Category
growth
Tapping America: Reece and the race to consolidate US plumbing wholesale
Reece Limited (REH.AX): Plumbing wholesaler with stellar Oz track record. Expanded to US in '18; upside if can replicate success there. Family-run, unconventional governance. Trades at high 31x P/E on optimistic FY26 estimates despite construction headwinds. 20% upside.
Read full article (14 min)