* AB InBev, the parent company of Budweiser, saw revenue increase from $46.8B in 2020, to $54.3B in 2021, to $57.7B in 2022. Trailing twelve month 2023 revenues are $59B.
** TKO, the parent company of UFC, saw revenues increase from $0.8B in 2020, to $1.0B in 2021, to $1.1B in 2022. Trailing twelve month 2023 revenues are $1.3B.
* In the last 40 years, approximately 1/3 of global farmland is no longer arable. Each year, a typical U.S. farm can lose 4 tons of topsoil per acre.
** Desertification of overused farmland will become a problem across America in the next decade. The tipping point to avoid a multi-generation catastrophe is if 10% of the United States’ 900 million acres of farmland regenefies.
*** Regenefying farmland involves improving soil health and ecosystem resilience after harvests, so that farm land is not completely stripped of its nutrients over time. It can be as easy as planting a diversity of trees around the edges of farms. Regenefied farms reduce machine wear and tear, labor costs, and the amount of fertilizers needed for high yields.
* Between 2020 and 2022, McDonalds’ revenue increased from $19.2B to $23.1B, with Earnings Per Share increasing from $6.31 to $8.33.
** In 2022, the company expanded on its Standards of Business Conduct, and introduced new measures for 2023 to ingrain its core values of Serve-Inclusion-Integrity-Community-Family to every corner of the company.
* AI is expected to unlock $16 trillion in value from the global economy by 2030.
** 450,000 registered users have developed applications and published papers based on IBM quantum technology.
* Honeywell’s Performance Materials and Technologies segment has been steadily climbing from $9.4B in 2020, to $10.0B in 2021, to $10.7B in 2022 - and expected to rise in 2023 with Solstice®
** Between 2020 and 2020, Honeywell’s earnings-per-share has increased from $6.79 to $7.33.
* Revenues for American Express have been skyrocketing from $36.0B in 2020, to $42.3B in 2021, to $52.8B in 2022.
** AXP's earnings per share increased from $3.77 to $9.86 between FY2020 and FY2022.
* Chili’s parent company Brinker saw revenues increase from $3.0B in 2020, to $3.3B in 2021, to $3.8B in 2022. Earnings per share increased from $0.64 to $2.62 in the same period.
* Webex is part of Cisco’s 'collaboration portfolio', that generated $4.4B of Cisco’s $38.0B product revenue last FY.
** Cisco’s product revenue has increased from $35.9B to $36.0B to $38.0B in the last three years.
*** Total revenue including service revenue for Cisco grew from $49.3B, $49.8B, to $51.5B over the last 3 years.
* Caterpillar sales have increased phenomenally, from $39.0B in 2020, to $48.1B in 2021, to $56.5B in 2022.
** Profit per common share of CAT has increased from $5.51 in 2020, to $11.93 in 2021, to $12.72 in 2022.
Market Valuation: $32 Billion
Ironbound Buy-Side Valuation: $40 Billion
Ironbound Assessment: Deerfield Illinois based Walgreens Boots Alliance, Inc., founded in 1901, is the largest retail pharmacy, health and daily living destination in the United States and Europe with over 13,000 locations across 9 countries. Approximately 78% of the American population lives within 5 miles from a Walgreens or Duane Reade retail pharmacy location. In 2022, the company filled 820 million prescriptions, and now has over 102 million myWalgreens rewards loyalty members. Our upside valuation of $50 Billion is on the higher end to account for the Company’s transformational cost management program estimated to unlock an additional $3.5 Billion in annual cost savings after 2024. We like Walgreens because of its meaningful holistic business purpose: to help people lead more joyful lives through better health. In 2022, the company received numerous inclusivity awards that included, a score of 100 from the Human Rights Campaign’s Corporate Equality index, a bronze award on the Stonewall Top Global Employers Index for LGBTQ+ inclusions, and 100% on the Disability Index for disability inclusions. The company is rolling out local clinical services at a lower cost to consumers inside pharmacy locations as a long-term healthcare value creation strategy.
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