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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash to Debt 0.05
SUSS's Cash to Debt is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 0.05 )
SUSS' s 10-Year Cash to Debt Range
Min: 0.01   Max: No Debt
Current: 0.05

Equity to Asset 0.28
SUSS's Equity to Asset is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 0.28 )
SUSS' s 10-Year Equity to Asset Range
Min: -0.12   Max: 0.38
Current: 0.28

-0.12
0.38
Interest Coverage 2.03
SUSS's Interest Coverage is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 2.03 )
SUSS' s 10-Year Interest Coverage Range
Min: 0.52   Max: 9999.99
Current: 2.03

0.52
9999.99
F-Score: 6
Z-Score: 5.51
M-Score: -2.18
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 1.25
SUSS's Operating margin (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 1.25 )
SUSS' s 10-Year Operating margin (%) Range
Min: 0.6   Max: 2.21
Current: 1.25

0.6
2.21
Net-margin (%) 0.44
SUSS's Net-margin (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 0.44 )
SUSS' s 10-Year Net-margin (%) Range
Min: -1.03   Max: 1.25
Current: 0.44

-1.03
1.25
ROE (%) 7.09
SUSS's ROE (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 7.09 )
SUSS' s 10-Year ROE (%) Range
Min: -218.05   Max: 17.32
Current: 7.09

-218.05
17.32
ROA (%) 2.03
SUSS's ROA (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 2.03 )
SUSS' s 10-Year ROA (%) Range
Min: -5.55   Max: 4.72
Current: 2.03

-5.55
4.72
ROC (Joel Greenblatt) (%) 10.39
SUSS's ROC (Joel Greenblatt) (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 10.39 )
SUSS' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 5.02   Max: 25.98
Current: 10.39

5.02
25.98
Revenue Growth (%) 7.90
SUSS's Revenue Growth (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 7.90 )
SUSS' s 10-Year Revenue Growth (%) Range
Min: -35.9   Max: 12.3
Current: 7.9

-35.9
12.3
EBITDA Growth (%) 3.50
SUSS's EBITDA Growth (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 3.50 )
SUSS' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 25.7
Current: 3.5

0
25.7
EPS Growth (%) 136.30
SUSS's EPS Growth (%) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 136.30 )
SUSS' s 10-Year EPS Growth (%) Range
Min: -62.8   Max: 163.3
Current: 136.3

-62.8
163.3
» SUSS's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

SUSS Guru Trades in Q3 2013

Louis Moore Bacon 165,000 sh (New)
John Keeley 4,130 sh (New)
Third Avenue Management 463,919 sh (+275.72%)
Murray Stahl 165,198 sh (+45.01%)
Ron Baron 900,000 sh (+20%)
Jim Simons Sold Out
Steven Cohen Sold Out
Paul Tudor Jones Sold Out
» More
Q4 2013

SUSS Guru Trades in Q4 2013

Steven Cohen 30,200 sh (New)
Third Avenue Management 538,176 sh (+16.01%)
Murray Stahl 168,749 sh (+2.15%)
John Keeley 4,130 sh (unchged)
Louis Moore Bacon Sold Out
Ron Baron 875,600 sh (-2.71%)
» More
Q1 2014

SUSS Guru Trades in Q1 2014

Louis Moore Bacon 85,000 sh (New)
Steven Cohen 48,070 sh (+59.17%)
Murray Stahl 264,280 sh (+56.61%)
Ron Baron 950,600 sh (+8.57%)
Third Avenue Management 538,176 sh (unchged)
John Keeley 4,130 sh (unchged)
» More
Q2 2014

SUSS Guru Trades in Q2 2014

Prem Watsa 6,400 sh (New)
Mario Gabelli 271,209 sh (New)
John Keeley 4,130 sh (unchged)
Third Avenue Management Sold Out
Louis Moore Bacon Sold Out
Ron Baron 600,000 sh (-36.88%)
Murray Stahl 44,455 sh (-83.18%)
» More
» Details

Insider Trades

Latest Guru Trades with SUSS

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Third Avenue Management 2014-06-30 Sold Out 0.65%$57.03 - $80.6 $ 81.7211%0
Mario Gabelli 2014-06-30 New Buy0.11%$57.03 - $80.6 $ 81.7211%271209
Ron Baron 2014-06-30 Reduce -36.88%0.09%$57.03 - $80.6 $ 81.7211%600000
Prem Watsa 2014-06-30 New Buy0.04%$57.03 - $80.6 $ 81.7211%6400
Third Avenue Management 2013-09-30 Add 275.72%0.35%$44.83 - $54.63 $ 81.7264%463919
John Keeley 2013-09-30 New Buy$44.83 - $54.63 $ 81.7264%4130
Third Avenue Management 2013-06-30 New Buy0.12%$46.72 - $56 $ 81.7262%123475
Ron Baron 2013-06-30 Add 27.03%0.04%$46.72 - $56 $ 81.7262%750000
Ron Baron 2012-12-31 New Buy0.11%$33.08 - $37.26 $ 81.72130%500000
Joel Greenblatt 2012-03-31 Sold Out 0.03%$22.21 - $27.7 $ 81.72253%0
Joel Greenblatt 2011-12-31 New Buy0.03%$19.01 - $25.17 $ 81.72270%12129
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Guru Investment Theses on Susser Holdings Corp

Third Avenue Management Comments on Susser Holdings - Sep 12, 2013

Susser Holdings ("Susser") (SUSS) traces its roots back to 1938 when Sam and Minna Susser opened two service stations in Corpus Christi, Texas. Seventy five years later, the company is the second-largest non-refining convenience store operator and motor fuel distributer in the state of Texas and one of the largest company-operated convenience store chains in the U.S. (operating under the Stripes® banner) with operations in Oklahoma, New Mexico and Louisiana as well. We view Susser as a compelling long-term investment opportunity for a host of reasons:

• Growth: Susser has a strong track record of growing organically and via acquisitions under the leadership of CEO Sam L. Susser (grandson of Susser's founder).

Since Sam joined the company in 1988, Susser has grown from five stores and revenues of less than $10 million to more than 500 stores and revenues of more than $5 billion,completing 13 significant acquisitions along the way (not including Susser's wholesale distribution operation which also supplies fuel to more than500third-party locations). Impressively, Susser has grown same-store sales every year since then as well, and generally delivers among the strongest per-store statistics seen within the industry. With more than 90% of its stores located in Texas,the state's booming economy and strong demographic trends (young, rapidly-growing population, low unemployment, ranked number one in job growth) should continue driving strong growth for Susser for years to come. In addition, Susser should continue to take market share through 1) the accelerating buildout of higher-volume and more profitable big-box stores (two to three times the cash flow of its smaller legacy stores); 2) price-disciplined acquisitions (the convenience store industry remains highly fragmented, with numerous mom-and-pop operators); 3)entrance into under-penetrated Texas markets; and 4) increased offering of more profitable diesel fuel.

Management: Based on conversations with Susser's management, other industry executives and industry analysts, it has become abundantly evident to us that Susser's management team, while relatively young, is highly competent, innovative and laser-focused on creating long-term value for shareholders.Importantly, management has earned a reputation for being best-in class with regard to utilizing sophisticated technology systems for data gathering and analysis to improve all areas of its operations (e.g. fuel pricing, inventory management, labor utilization, and shrinkage)—a significant competitive advantage in our view. We are also encouraged that insiders own close to twenty percent of the company,creating a strong alignment of management's interests with those of outside long term shareholders.

• Laredo Taco Company: In the early 2000s Susser created a proprietary food service concept named Laredo Taco Company ("LTC") that serves freshly made tacos and Mexican food in a growing number of its convenience stores. LTC is arguably Susser's strongest competitive advantage today as it generates 1) incremental customer traffic, 2) much higher margins than fuel sales, and 3) the sale of other high margin merchandise with most transactions.

• Susser Petroleum Partners: In September 2012, Susser spun off its Susser Petroleum Partners ("SPP") wholesale fuel business into a Master Limited Partnership (MLP) structure that provides fuel to Susser, as well as to third parties. While this structure creates a degree of "analytical noise" as it relates to the company's reported GAAP financials, it creates a more appropriately valued "currency" for SPP that it can use for growth and acquisitions while it effectively lowers Susser's cost of capital. Moreover, in addition to being the controlling general partner and majority limited partner of the MLP, Susser also holds a hidden asset of sorts in the form of Incentive Distribution Rights (IDRs) which effectively entitle Susser to an increasing portion of the MLP's distributions as it grows. While the distributions will likely be modest over the near term, SPP has attractive growth opportunities over the long-term through organic growth, acquisitions, and Susser stores being "dropped down" into the MLP via sale-leaseback transactions. The business model also provides a significant competitive advantage to Susser as it is able to take advantage of SPP's combined retail and whole sale fuel purchasing volume to obtain attractive pricing and terms.

• Financial position: Sincecoming publicin 2006, the strength of Susser's balance sheet has steadily improved. In the wake of the SPP initial public offering and resulting proceeds, Susser has been ableto refinance its debt at attractive rates and ultimately reduce its net debt to about one times EBITDA3 (down from about four times EBITDA in 2007).

• Valuation: Despite being recognized as among the highest-quality businesses in the convenience store industry, we were able to invest in Susser's retail operations at an implied valuation4 of less than six times trailing EBITDA, which represents a glaring discount not only to broader industry valuations but also to private market transaction values.In addition to its high-quality operations, we would argue that Susser deserves a premium valuation for its ownership of Laredo Taco Company in light of the brand's strength within Texas and the relatively high valuations ascribed to similar public "quick service restaurant" concepts.

From Third Avenue Management’s third quarter 2013 letter to shareholders.


Check out Martin Whitman latest stock trades

Top Ranked Articles about Susser Holdings Corp

Prem Watsa Buys 4 New Stocks
Prem Watsa (Trades, Portfolio), founder of Canadian insurance conglomerate Fairfax Financial Holdings (TSX:FFH), has been fully hedged on his equity positions since about 2010, reducing his returns as the market increased. In Fairfax’s second quarter financial results, however, Watsa told investors the hedges had decreased, though they were prone to fluctuate: Read more...
Mario Gabelli's Top New Buys
Mario Gabelli (Trades, Portfolio)’s Gabelli Asset Fund rose 4.3% in the second quarter, compared to a 5.2% increase for the S&P 500. Gabelli wrote in his second quarter letter that he expects a continuation of M&A activity in the second half of the year and sees several factors that could affect the market going forward: Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 61.30
SUSS's P/E(ttm) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 61.30 )
SUSS' s 10-Year P/E(ttm) Range
Min: 7.83   Max: 344.78
Current: 61.3

7.83
344.78
P/B 4.05
SUSS's P/B is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 4.05 )
SUSS' s 10-Year P/B Range
Min: 0.68   Max: 4.05
Current: 4.05

0.68
4.05
P/S 0.26
SUSS's P/S is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 0.26 )
SUSS' s 10-Year P/S Range
Min: 0.04   Max: 0.27
Current: 0.26

0.04
0.27
EV-to-EBIT 29.70
SUSS's EV-to-EBIT is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 29.70 )
SUSS' s 10-Year EV-to-EBIT Range
Min: 6.3   Max: 32.1
Current: 29.7

6.3
32.1
PEG 5.98
SUSS's PEG is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 5.98 )
SUSS' s 10-Year PEG Range
Min: 0.4   Max: 14.01
Current: 5.98

0.4
14.01
Shiller P/E 64.24
SUSS's Shiller P/E is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 64.24 )
SUSS' s 10-Year Shiller P/E Range
Min: 8.03   Max: 75.52
Current: 64.24

8.03
75.52
Current Ratio 1.25
SUSS's Current Ratio is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 1.25 )
SUSS' s 10-Year Current Ratio Range
Min: 0.85   Max: 2.77
Current: 1.25

0.85
2.77
Quick Ratio 0.68
SUSS's Quick Ratio is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 0.68 )
SUSS' s 10-Year Quick Ratio Range
Min: 0.41   Max: 2.34
Current: 0.68

0.41
2.34

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 13.01
SUSS's Price/Tangible Book is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 13.01 )
SUSS' s 10-Year Price/Tangible Book Range
Min: 2.59   Max: 12.83
Current: 13.01

2.59
12.83
Price/Median PS Value 3.30
SUSS's Price/Median PS Value is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 3.30 )
SUSS' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 3.25
Current: 3.3

0.5
3.25
Price/Peter Lynch Fair Value 7.17
SUSS's Price/Peter Lynch Fair Value is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 7.17 )
SUSS' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.43   Max: 23.08
Current: 7.17

0.43
23.08
Price/Graham Number 4.58
SUSS's Price/Graham Number is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 4.58 )
SUSS' s 10-Year Price/Graham Number Range
Min: 1.83   Max: 10.01
Current: 4.58

1.83
10.01
Earnings Yield (Greenblatt) 3.40
SUSS's Earnings Yield (Greenblatt) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 3.40 )
SUSS' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.1   Max: 15.9
Current: 3.4

3.1
15.9
Forward Rate of Return (Yacktman) 7.38
SUSS's Forward Rate of Return (Yacktman) is ranked lower than
100% of the Companies
in the Global industry.

( Industry Median: vs. SUSS: 7.38 )
SUSS' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -48.5   Max: 13.2
Current: 7.38

-48.5
13.2

Business Description

Industry: »
Compare: » details
Traded in other countries:M4A.Germany
Susser Holdings Corporation is a convenience store operator and a non-refining wholesale gasoline distributor. As of December 2008, the firm operated 512 convenience stores in Texas, New Mexico and Oklahoma, offering merchandise, foodservice, gasoline and other service. The chain carries Valero, Shamrock, Chevron, Shell, Texaco, Phillips 66 and Exxon branded gasoline, with about two-thirds its stores branded under the Valero name. Susser also distributes branded and unbranded gasoline to more than 370 dealer locations through supply or consignment agreements. Additionally, Susser formed Applied Petroleum Technologies (APT) to manage the firm's environmental, maintenance and construction activities. APT sells and installs motor fuel pumps and tanks and also provides a broad range of environmental consulting services, and is licensed to oversee the installation and removal of underground storage tank systems.
» More Articles for SUSS

Headlines

Articles On GuruFocus.com
Third Avenue Small-Cap Value Fund Second Quarter Commentary Sep 15 2014 
Prem Watsa Buys 4 New Stocks Aug 13 2014 
Mario Gabelli's Top New Buys Aug 06 2014 
Third Avenue Management Comments on Susser Holdings Sep 12 2013 
Comparable to CST May 16 2013 
CST Brands – Value in the Corner May 15 2013 
Baron Funds Comments on Susser Holdings Dec 07 2012 
Casey's General Stores- More Than Just a Gas Station May 30 2012 
Casey's General Stores: More Than Just a Gas Station May 30 2012 
Dec 11 2011 

More From Other Websites
SUSSER HOLDINGS CORP Files SEC form 8-K, Termination of a Material Definitive Agreement, Notice of... Aug 29 2014
Energy Transfer Partners and Susser Holdings Announce Successful Completion of Merger Aug 29 2014
Susser Holdings and Energy Transfer Partners Announce Stockholder Approval of Merger Aug 28 2014
SUSSER HOLDINGS CORP Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits Aug 26 2014
Stripes® Convenience Stores Announces New In-Store Campaign and Alliance with MD Anderson... Aug 26 2014
Susser Holdings and Energy Transfer Partners Announce Preliminary Merger Consideration Election... Aug 26 2014
SUSSER HOLDINGS CORP Files SEC form 8-K, Other Events Aug 18 2014
SUSSER HOLDINGS CORP Financials Aug 15 2014
Prem Watsa Buys 4 New Stocks Aug 13 2014
Susser Holdings (SUSS) Misses on Q2 Earnings, Beat Revenues Aug 11 2014
#PreMarket Primer: Monday, August 11: Negotiations To End The War In Gaza Continue Amid Fragile... Aug 11 2014
S&P futures lowest level since April Aug 08 2014
SUSSER HOLDINGS CORP Files SEC form 8-K, Results of Operations and Financial Condition Aug 08 2014
Q2 2014 Susser Holdings Corp Earnings Release - Before Market Open Aug 08 2014
#PreMarket Primer: Friday, August 8: U.S. To Begin Airstrikes In Iraq Aug 08 2014
Susser Petroleum Partners LP Reports Second Quarter 2014 Results Aug 08 2014
Susser Holdings Reports Second Quarter 2014 Results Aug 08 2014
Will Susser Holdings (SUSS) Miss Q2 Earnings Estimates? Aug 07 2014
Susser Holdings Schedules Special Meeting of Stockholders for August 28 to Consider Merger Agreement... Jul 30 2014
SUSSER HOLDINGS CORP Files SEC form 8-K, Results of Operations and Financial Condition Jul 16 2014

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