Monday, December 19, 2011

ALPA4 - Alpargatas

Alpargatas stands out in creating and managing brands that are desired by consumers in many countries (like Havaianas). Besides that, is controlled by a well known and defined group (Camargo Correa). Also shows strong and stable cash generation.
So I decided to take a look at the three last cash flows available (2011 was multiplied by 4/3 to put in an annual basis):


As you can see, it's an exceptional company, with average FCF over Equity above 20%. However, it's not cheap right now.
I added it to my wish list.

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