@MarsC,
Good question.
But like all data sets, I just want to make sure we are comparing the right things with one another.
By "WES", I assume you mean Bunnings, right?
Because if it is Bunnings, then you know that Bunnings is a lot more than plumbing supplies.
As a case in point, since 2013, when the building boom started, Reece's revenue has grown from $1.5bn to over $2.2bn (stripping out the $175m of Actrol revenues that were acquired in Jan., 2014).
I'm not sure the plumbing supplies market grew at that pace.
I'm busy with a note on Reece's next-largest competitor, Tradelink, which I'll post imminently. As you'll see in a few hours, Tradelink's sales are barely changed.
REH moat, page-10
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$24.38 |
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Mkt cap ! $18.39B | |||
| Open | High | Low | Value | Volume |
| $24.09 | $24.38 | $23.83 | $11.28M | 464.6K |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 11498 | $24.37 |
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| Price($) | Vol. | No. |
|---|---|---|
| $24.43 | 1975 | 3 |
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