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COMP - Compass: A Renovated Business Model With An Attractive View
Compass Inc. Class A
2024-06-13 15:17:23 ET
Summary
Compass, Inc. is a strong player in the real estate agency market with a large group of high-caliber agents and the technology tools to make them effective.
The company came public during the hype of 2021 with unrealistic growth expectations and an unsustainable economic model.
Compass has been aggressively rightsizing the cost structure while continuing to add agents, and appears very focused on free cash flow and protecting a strong balance sheet.
RE transactions are down sharply over the past two years. As market activity improves, Compass is positioned well to generate above-market growth and significant FCF.