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Walgreen Co. Message Board

  • astocke astocke Jan 3, 1998 10:01 AM Flag

    inventories and cash

    I am a longtime holder of Walgreens and love the company!! Put tersely, " A company unevaluated is a company not worth
    owning." Receivables have been trending upward for the last 5 years compared to total assets.....Inventories trending upward compared
    to total assets...Days sales in accounts receivable trending upward last 5 yrs..Days sales in inventory trending upward last 5
    yrs and in the fifth year ballooning by 40%. Also, to my amazement Walgreens has earned the last 20 years an average ROE of 20%
    but insist on paying a small dividend?? Walgreens is in the biggest growth phase of their history they will need every bit of
    cash they can put their hands on; all the above has the opposite affect. In this year's annual report, the CEO mentioned debt
    financing part of the growth? Why, when he gives back to the owners over $350 million in dividend that I am taxed on. Where can I put
    my dividend that will earn over 20% in the next 20 years? Please E-mail Walgreens and tell them to reduce inventories, collect
    accounts receivables faster and keep the dividend. Then probably debt financing will not occur!! Keep Walgreens it will make us all
    MILLIONAIRES!! On the good side profit margins on sales are increasing. But the Quick ratio is trending down; showing a lack of cash to
    coverage present events. Please write me or leave a message!!

    astocke@aol.com

    ASTOCKE





 
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