RE:ebidtaAgree @microcaphobby. P/S and EV/Sales are still low at 0.4. Transformers are like selling shovels durong a gold rush. I do not believe that there will be a lot of venture capital flooding the transformer market. It is seen as too capital heavy etc. Thus the good trading conditions for HPS may hopefully last for many years.
What I also like very much is the fact that Bill Hammond and his management team are good stewards of capital. Despite explosive growth which typically eats OWC for breakfast driving up net debt, HPS has been able to combine excellent topline growth with positive FCF (increasing net cash).
The capex plan has somewhat increased but is not of a magnitude that is risky. Again, Bill Hammond does not bet the farm.