I'm going to throw a comment in here, just to get the discussion...

I'm going to throw a comment in here, just to get the discussion going.

It seems to me NVT will struggle to find a place to put its cash. A good problem to have i guess, but with only 80% FC available (due to geographical spread of earnings), it doesn't seem that management want to pay it all out.

There are always more schools to build, but the growth in prepayments usually pays for those.

If they do make another acquisition, I hope it's better than the last.

A capital return is always another option i guess... But we're not close enough to that point yet.