BBB Foods: Great Business But Lacks Margin Of Safety At Current Valuations
Tiendas 3B reported an exceptional quarter with same-store sales up roughly 20%, revenue growth accelerating to 38.7% year-over-year, and adjusted EBITDA up 43.8% to about a 6.1% margin, while opening 155 new stores in Q2. The article also notes concern over share-count dilution from stock-based compensation, potentially reaching about 142 million shares by fiscal 2030.
Why it matters — BBB Foods watchers would care because strong traffic and expansion are weighed against valuation and stock-based-compensation dilution concerns that could affect future shareholder value.