I think DMP are a great company - have really changed the way...

I think DMP are a great company - have really changed the way the fast food stores serve customers, and have managed to grow all bottom line numbers well through acquisition.

However DMP over the last 5yrs is the classic reason why you should never pay for "growth". DMP should have never reached the heights of a $80 SP of $8B MC - all based on future earnings assumptions that were tens and hundred times the current - absolutely stupid. Companies should be valued based on real earning in the current year, anything outside that is largely speculative as anything could happen - so paying for growth is silly because it means if anything goes wrong that lofty valuation will be absolutely shot - that's how the discounted cashflow theory works (assumes whatever growth will last forever! hence the lofty valuations) which is what all brokers use in one way or another....

Anyway rant over, I'm posting on this thread because maybe just maybe on current metrics DMP could be worth a look.... Net debt okay range, interest cover good, EPS increasing, divvy increasing, payout ratio okay, high ROE - ticks a lot of boxes