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Park Lawn owns funeral homes, crematoria, and cemeteries in Canada and the U.S. It’s a recession-proof high-margin high-barriers-to-entry business with strong tailwinds from aging demographics. Strong management team based in the U.S., where they are focused on a mergers and acquisition strategy to consolidate a still very fragmented industry. The stock was more than $40 in 2022 when sales surged from higher death rates during the pandemic. The massive pullback to less than $20 is due to several factors: tough prior year comps, a flight out of small-cap stocks, leverage, and deletion from the TSX Composite Index. This has created a great entry point as PLC’s valuation is now at an all-time low of less than eight times forward Earnings before interest, taxes, depreciation, and amortization (EBITDA). The company is now buying back shares and company recently divested of some low margin assets at a very good price and significantly improved its balance sheet, so results this year should show a significant margin and free cash flow improvement. We bought more shares less than $20.