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  "documentTitle": "Prestige Consumer Healthcare Inc. (PBH)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-06-30 00:00:00",
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  "notes": "Uses red boxes and arrows to highlight specific financial discrepancies in working capital and receivables growth.",
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      "kind": "callout",
      "text": "Receivables growth is ballooning relative to revenue growth",
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      "text": "Working capital as a % of revenue is increasing",
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      "text": "Working Capital: 66.5%",
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      "text": "Analyzing C.B. Fleet International (Singapore) and Prestige Brands (UK) Limited foreign filings, we find similar evidence of financial strain as working capital and trade receivables are growing. C.B. Fleet Singapore is experiencing similar outsized receivables growth relative to revenue growth. While PBH UK does not disclose revenue, these working capital and receivables trends are in line with PBH and PBH Australia.",
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      "text": "Source: Company filings, Companies House (UK)",
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      "text": "Singapore & UK Entities Show Strains",
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