Bapcor's Earnings Are Supported by the Steadily Growing Vehicle Fleet
Narrow-moat-rated Bapcor remains one of our preferred names in the automotive space, currently trading at almost 20% below our AUD 7.00 per share fair value estimate. We have not changed our earnings projections and the company remains on track to achieving 9% underlying net profit growth in fiscal 2019. We forecast earnings per share to grow at just over 10% on average over the next five years.The core trade market (which directly contributes around 60% of group earnings, and as much as 80% in...
Bapcor is engaged in the sale and distribution of motor vehicle aftermarket parts and accessories, automotive equipment and services, and motor vehicle servicing. Co. has three operating segments. The Trade segment is a distributor of automotive aftermarket parts and consumables to trade workshops for the service and repair of vehicles, automotive workshop equipment such as vehicle hoists and scanning equipment, and automotive accessories and maintenance products to do-it-yourself vehicle owners. The Retail segment consists of business units that are retail customer focused. The Specialist Wholesale segment consists of the operations that focus on automotive aftermarket wholesale.
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