Topic: How To Invest

Q: Hi, Pat. Thanks for all your advice. It has been much appreciated. Can I have your opinion on Neighbourly Pharmacy (NBLY), please. Thanks.

Article Excerpt

A: Neighbourly Pharmacy Inc., $17.10, symbol NBLY on Toronto (Shares outstanding: 44.7 million; Market cap: $815.3 million;, is Canada’s largest and fastest-growing network of community pharmacies. Since its founding in 2015, the company has grown to 294 locations. Neighbourly Pharmacy first sold shares to the public and began trading at $17 a share in May 2021. The company continues to grow through acquisition. Most recently, on June 6, 2023, it announced the purchase of seven pharmacies in Western Canada. Neighbourly acquired the pharmacies from a single seller. Five locations are in Saskatchewan, and two in B.C. The purchase price has not yet been disclosed. The company’s revenue has grown rapidly in the last three years (results prior to the company’s IPO in early 2021 are not available.) Revenue rose 144.4%, from $306.5 million in fiscal 2021 (fiscal years ended March 25) to $749.1 million in fiscal 2023. Excluding one-time items, earnings rose 284.3%, from $5.0 million in 2021 to $19.3 million in 2023…