Q: I would appreciate your updated opinion on Turows. Thanks!
5i Research Answer:
TC is down 28% YTD, bringing market cap to $282M. There are no analysts on the company so no estimates. In Q1 sales rose 8.7% and gross profit rose 30.3%. Most divisions showed growth. Cash is $79M but debt is $456M. Strong growth and cost containment at Wavelo helped results. But cash flow was negative in 2023. Considering weak momentum and lots of balance sheet risk, we have a hard time getting excited here about 9% growth and negative cash flow. We are not interested.