See you presented a good narrative that suits outcome you desire to see but that is all hypothetical!
1. Most business grow by borrowing so nothing out of order!
2. Even after buying all recent business they have more real-estate then capital borrowing (excluding bailment).
3. Buy back is good only if you are significantly discounted to NTA otherwise you are simply buying at higher then NTA. Based on last report their NTA is $1.42 so if they do end up going below $1 then certainly it makes sense to do buyback.
they hold Toyota and somehow people in Australia mad about Toyota.
the only aspects I am worried is that they not disclosing Net profit after tax of the new dealership they buying so basically under normal circumstances business disclose at what multiple of EBIT they are buying new business.
PWR Price at posting:
$1.49 Sentiment: None Disclosure: Held
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