GMS - GMS: Building A Building Distribution Empire

2024-05-19 07:11:03 ET

Summary

• GMS is a leading specialty distributor of construction products which shows impressive growth and delivers on solid margins.
• The company has quadrupled its sales over the past decade and has seen strong sales and earnings growth on a per-share basis.
• The valuation of GMS is reasonable, but the cyclicality of the business should be considered before investing, as the company is on the acquisition tour here.

GMS ( GMS ) is a leading North American specialty distributor of construction products, an interesting business which I have unfortunately never covered before. The company has seen impressive growth over the past decade, having delivered on solid (margin) growth, which certainly has been reflected in the share price in recent years....

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