Still haven't found any reason for the mystery of operating cash outflows being so much higher in 2014, then so much lower in 2015. Maybe were some big prepayments made in 2014, but nowhere does this appear to be captured in the accounts. Still looks very dodgy to me - I would put a red flag on this stock with the share buyback being a nonsense idea IMO. Revenue and receipts have hardly moved in four years (or more?) and the company is definitely not at a low end for debt metrics. They will need to keep investing in capital equipment to keep up with competitors. I personally think this stock is worth about a PE of 10 max, unless they can find a big defensible niche. They will have a big cap ex period coming again soon too IMO, and the market will not like that period.
All my opinions only. If anybody can clear up my net receipts conundrum I would be very grateful.
AHY Price at posting:
$1.48 Sentiment: Sell Disclosure: Held
