This content is for Raper Capital Pro subscribers only.
To gain access, please subscribe HERE.
This content is for Raper Capital Pro subscribers only.
To gain access, please subscribe HERE.
This content is for Raper Capital Pro subscribers only.
To gain access, please subscribe HERE.
This content is for Raper Capital Pro subscribers only.
To gain access, please subscribe HERE.
Trading at 21x LTM (pre-COVID) EV/EBITDA and 33x FCF, the market views Bright Horizons Family Solutions (BFAM), the child-care center operator, as a secular growth story largely untouched by the current maelstrom. Prima facie, this seems justified, as the business has put up high-single-digit revenue/low-double-digit EBIT growth CAGRs over the last decade; sports impressive returns … Continue reading Bright Horizons Family Solutions: pre- and post-COVID, major trouble ahead