Q: I would appreciate your current thoughts on WELL and its future prospects.
5i Research Answer:
WELL is currently trading at 25X earnings, with EPS growth of about 30% expected this year. It has $102M net debt, which we would consider low against $77M in 12-month cash flow. With acquisitions, revenue is up more than 10X since 2020. The share count has increased, but we think management's long term plan remains on track. Market cap is now back again above $1B and it is up 9% YTD and 28% over one year. The Canadian healthcare space is very thin and we consider it one of the best growth ideas within the Canadian sector.