Clarus Corp (CLAR) -- Undervalued with Strong Balance Sheet | Maran Capital 2024 Q4

Positioned for Profitability Acceleration and Market Revaluation

Apr 13, 2025

Summary

Strong balance sheet with net cash of over $1 per share.
Trading at a fraction of private market value, with potential for significant revaluation.
Expected acceleration in profitability with conservative sell-side estimates.
Trading at around 6x EBITDA and less than 0.5x sales.
Potential for significant upside as comps have traded at much higher multiples.

Clarus Corp (CLAR, Financial) was featured in Maran Capital’s Q4 2024 letter as a compelling investment due to its strong balance sheet and undervaluation relative to private market value. The company is positioned for a meaningful acceleration in profitability, with current trading metrics suggesting significant upside potential.

"My conviction—backed by ongoing research, channel checks, and numerous management, competitor, and other industry touch points—in the underlying value of Clarus’s businesses has allowed me to remain patient." — Maran Capital Management, Q4 2024 Fund Letter

Read full letter at gurufocus Maran Capital 2024 Q4 page.

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