Hello, Subscribers:
WD-40 (WDFC), whose aerosol lubricant comes in its familiar yellow and blue cans, is one of America’s more prosaic companies.
While its 10-year earnings growth rate had been commendably consistent, up until 2020, it has only averaged about 7%. Over the last five years, it has slowed to 3% as earnings seem to have plateaued. Yet, as you see below, it trades at 44 times earnings.