4. Aphria has operations in Europe and Africa as well, and is slowly moving into the U.S. as things get legalized
5. Some more notes on Aphria One, since it is super important for Aphria:
- Over $250 million spent on it
- 90%+ of the company's capacity
- "state of the art automation"
6. Aphria invested in "Aphria Diamond," and owns 51% of the company. They use the businesses to accelerate greenhouse production by splitting costs but then getting the majority of profits up to the parent company
7. Aphria is waiting for federal legalization to go full-steam ahead in the United States
8. Aphria is growing revenue rather quickly, as they are in a heavy investment/start-up phase
9. Here is Aphria's debt obligations over the next five years (looking from end of FY 2019). Not bad but probably will get larger as they continue to invest
10. Here is a look at their current assets as of the end of 2019. They've raised a considerable amount of money and are deploying it quickly
According to Koyfin, Aphria has an enterprise value of $1.35 billion and an EV/sales of 4.2
If they can continue growing at a rapid pace and achieve a decent ROIC, this could be an interesting investment to take a look at
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Quick aside: if you want to hear the author talk about the essay at length (and definitely do a better job of explaining it than I ever could), listen to his appearance on Invest Like the Best
$SFIX 10-K out recently. Some interesting tidbits I found:
- Stitch Fix is less than 10 years old and only available in the U.S. and U.K.
- First new product outside of Fixes (Direct Buy) is barely one year old
- "We believe that an intelligent combination of data science and human judgment is required to deliver the personalized retail experience that consumers seek."
- The specific term "data science" is mentioned 25 times in the 10-k
A thread of companies that spent more on capex than in 2019:
(reminder, Tesla is supposedly currently disrupting the entire auto market, semitruck market, lithium battery market, solar market, and is the leader in FSD)
For reference, spent $1.33 billion on Capex in 2019 (via @stockrow1)
1. Ford
Ford spent $7.6 billion on capex in 2019. They are a direct competitor to Tesla