A Rare Business Model
Since 2008 this company has converted 58 cents of every dollar of EBIT into free cash flow. This is like a company with a 35% tax rate converting 90% of reported after-tax earnings into free cash flow. All the while it was paying interest and growing sales at rates above nominal GDP growth.
If you’re looking for a stock to buy and hold forever, this is your stock. This is a perfect buy and hold forever stock.