- A top pick of Joel Greenblatt's Magic Formula Screener.
- Niche focus on the surplus/salvage market and professional qualification and trade clearances of buyers and sellers create competitive advantages.
- Benefits from the continued shift of world economy online and further, seems to make the surplus/salvage market more efficient than existing processes.
- Significant relationships with DoD and WMT are a testament to legitimacy of such a small business, but also present significant customer concentration risks.
- 58.4% pre-tax ROIC and 15%+ growth should not equal 5.8x EV/EBIT and 8.9x EV/FCF.