From any fundamental standpoint, craft, seasonal, and gift manufacturer CSS Industries (CSS) looks ridiculously undervalued. At the end of Q3, the midpoint of FY19 (ending March) guidance suggested an EV/EBITDA multiple right at 5x. But cash builds in fiscal Q4; balance sheet figures as of January 31st cited in the Q3 release move the multiple to 4.4x, and the actual year-end figures could get the number closer to 4x.
Asset-based valuations look close to ridiculous. Book value is about $25 per share, implying a 0.3x P/B multiple at Friday's close of $7.51. Tangible