This market has been different than markets in the past. Balchem (BCPC), a portfolio suggestion, is a good example of what has occurred. BCPC's share price has severely underperformed its previous history since 2015. Yet, there has been no material change in its Revenue growth or business margins which remain at high levels. What has occurred is a repricing of past financial metrics to lower Pr/Sales, lower Pr/Cash Flow and etc. because of a change in market perception.
BCPC is a chemical manufacturer supplying human and animal nutrition products which they often encapsulate designed to