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IBA - Bachoco Is One Of North America's Cheapest Stocks
Industrias Bachoco S.A.B. de C.V.
Bachoco, which produces poultry in Mexico and the U.S., is still trading well below pre-pandemic levels.
This doesn't make sense, as the company is now reporting record profits thanks to the upswing in chicken prices.
Shares are currently going for less than 9x earnings and around 3x EV/EBITDA and free cash flow.
That valuation would only make sense if Bachoco were a dying business. However, it's actually a growing firm with a consistent track record of shareholder value creation.