Hansen Natural Corporation
Appraisal
hans.pdf
Comments
4-29-2008: I was initially attracted to Hansen Natural Corporation (beverage company) because it has a high return on assets and is not subject to obsolescence risk. It has earned a good return on PPE every year except for 1999 and 2000. The return on PPE, net liquidity, and intrinsic value have grown very rapidly in the last few years. I'm avoiding this stock for now because it looks overvalued. However, if the exceptionally fast growth continues, I may need to eat my words. On the other hand, if the stock goes nowhere while the fundamentals keep marching upwards, this would be a bargain.