The cashflow statement was a lot worse than I was hoping for.
I'm not sure what you were hoping for here but the point to note with the Cash Flow statements across the last several years at least is the annual increase in inventory and this will impact the Cash Flow.
The underlying business case here is all around the service that this company provides to customers. That service seems to be based upon, first, the availability of parts when the customer requires them and, second, the speed at which those parts can be delivered so that "time off the road" is kept to a minimum. All of this enables a slightly higher charge to be made to the customer,
This is where SNL excels. The stocking of parts is integral to their success and, as they offer their service to more truck models each year, so they increase their stock to support their service.
The introduction of service each year to new models is why stockholdings lift but it's a major part of where the growth is coming from.
It may almost be reasonable to argue that no growth in inventory and, therefore, no hit to the Cash Flow is a sign of slowing growth for the company.
The following represents a pictorial, although a bit simple, picture of the trend across recent years.
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SNL
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The cashflow statement was a lot worse than I was hoping for.I'm...
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Last
$36.50 |
Change
-1.130(3.00%) |
Mkt cap ! $1.586B |
Open | High | Low | Value | Volume |
$37.64 | $37.84 | $36.29 | $2.484M | 67.47K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 214 | $36.25 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$36.56 | 214 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1059 | 36.000 |
1 | 28 | 35.740 |
1 | 500 | 35.150 |
1 | 15 | 35.000 |
1 | 28 | 34.570 |
Price($) | Vol. | No. |
---|---|---|
36.700 | 946 | 1 |
39.600 | 625 | 1 |
40.030 | 25 | 1 |
40.990 | 71 | 1 |
41.000 | 21760 | 3 |
Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
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