Thx
In ATD's Investor Presentation, the company highlighted a few things such as 1) The healthy free cash flow generation of the business model. 2) Consistent growth in EBITDA and diluted EPS in the last five years, and expected to repeat it over the next five years. 3) Growth fueled by regional acquisitions and large-scale M&A to consolidate the US market. 4) The rationale for the recent acquisitions of retail assets from TotalEnergies SE (EBITDA multiple of 8.0x pre-synergies), with a combined EBITDA of $640M along with expected cost synergies of $240M over 5 years. This move also expands the company’s presence in the European market. 5) Solid ROC over many years, strong leverage profile, consistent dividend increase (10x since 2013), and share buybacks. The stock has been hitting all-time highs and things continue to look very good here.