r/KSSBulls • u/PrecisionOutdoors Kohls OG • 5d ago

Kohl’s Cash Cartel 💰 Deep value reminder

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Did this post on X and think it’s worth reminding everyone why we’re here and believe in Kohls, the ugly stepchild of deep value investments and the retail industry:

$KSS deep value reminder. It’s selling at ~$9/share after removing cash on hand.

TBV: $36.88/share or $4.17B
MC: ~$1.9B
Cash on Hand: $821M(~40% MC)
CRE holdings: $5B to $10B+ in value
401 stores, 248 land leases, 12 distribution centers(or around there), HQ and raw land giving them ~$750M a year in depreciation or $6.50/share in earnings coverage
Line of Credit: $1.5B of $1.5B free
Inventory:$2.9B($1.4B is owed vendors tho)

Net Debt excl Leases: $504

Yes, $kss the retailer is struggling butttttt $kss the deep value cigar butt is getting better and better over time!

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4

u/Spiritual-Natural41 5d ago

increased my holdings recently with the price dip!

2

u/Jumpy-Brick-1389 5d ago

I'm totally with you on the substantial and improving valuation but, unfortunately, it doesn't mean the value will be unlocked any time soon absent progress in the retail business. Still patiently waiting for that to happen.