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Qurate's Cash Flow Is Its Margin Of Safety

Dec. 04, 2021 2:59 AM ETQurate Retail, Inc. (QRTEA)38 Comments


  • Qurate's share price is down 45% over the last six months.
  • Qurate's 2021 performance hasn't matched 2020 performance but the company continues to generate ample free cash flow.
  • Management is committed to returning cash to shareholders via special dividends.
  • Qurate has significant debt on the balance sheet, but repayments are long-dated and well spread out.
  • Consistent dividends provide a sufficient margin of safety to shareholders despite a large debt burden.

Qurate Retail Group Reception

Ben Gabbe/Getty Images Entertainment

Qurate Retail (NASDAQ:QRTEA) is down over 40% since I wrote up the company in March. The market is concerned because QRTEA's 2021 performance is lagging 2020 performance and the company's balance sheet is highly

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I'm a big believer in the idea that there are "No Called Strikes" in investing. I put a lot of companies in the "too hard" pile, but I swing big when I find a great investment idea.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of QRTEA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

This article is not financial advice, it is only an expression of my own opinions as an individual investor.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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