Murphy USA: Putting Some Gas In My Portfolio

Grow stores to ~1,950 Reduces shares outstanding by 1MM annually Grow EBITDA to ~$1.3 billion Simply applying a similar market cap to EBITDA multiple as we see today (~9.8x) we would get a market cap of around $12.7B. After accounting for the share reduction to 15.7MM shares, we would arrive at a per share value of $811, or an 11%+ CAGR (excluding dividends and dividends likely add another 0.5% annually). In addition, MUSA has noted it's afraid to raise debt to retire shares if the market provides it the op ...