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EDUC - Educational Development Corporation


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This is PSA thread. I'm not personally interested.  8)

 

I talked to these guys, so the following is somewhat management-promo. Take with a grain of salt, do your DD!

 

They direct-sale (Tupperware parties FTW!) children's books in US.

Not only Tupperware parties, but also social media virtual parties (go FB!).

Covid was great for them, but they expect to continue growing post-Covid too based on number of direct salesforce (60K -> 75K, etc.).

 

90% e-commerce orders, 92% orders sent direct to customers

Typical order size: 5 books $60

They have 120 day vendor terms.

 

Seems like FCF cow.

They did/are doing 6M capex or so, but capex is not huge. Planning to get to 350M revenue, maybe even 450M.

 

They basically paid off debt, so they gonna divvie. Likely not gonna buyback (boohoo).

Management own 30%ish of company.

 

TIKR 2021 annual FCF shows 34M which is foobar, expect more like ~13M FCF or so.

 

All kind of questions if this is gonna melt, etc.

 

Don't address to me, I'm just a poster on the internetz bored.  ::)

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