Anybody with a view on this company? It seems clearly undervalued- PE under 15, selling in a growth market, good balance sheet …

Wondering if I am missing something?

Not one I'm familiar with but I took a quick look at their most recent investor deck:
[https://investors.ads-pipe.com/events-and-presentations/investor-presentations/default.aspx](https://investors.ads-pipe.com/events-and-presentations/investor-presentations/default.aspx)

$WMS seems to be in a down cycle with soft demand for residential and macroeconomic uncertainty beginning to impact non-residential. On the other hand, FCF from operations was up more than 3x YoY in FY22! I am interested in what others have to say. Let us know if you leg into a position!