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  "documentTitle": "Generac Holdings, Inc. (GNRC)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-06-22 00:00:00",
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  "notes": "Uses red arrow to visually link the inventory line item between two financial tables.",
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      "kind": "callout",
      "text": "We find that Generac marked-up inventories by 55% from £4.8m ($6.8m) to $9.97m. Generac hasn't disclosed any fair value revisions to inventory, or amortization of an inventory step-up. Inflating inventory values is a hallmark of margin overstatement. The prior owner made no such adjustments to inventory when it was acquired earlier in October of 2018.",
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      "kind": "callout",
      "text": "We find that Generac marked-up inventories by 55% from £4.8m ($6.8m) to $9.97m. Generac hasn't disclosed any fair value revisions to inventory, or amortization of an inventory step-up. Inflating inventory values is a hallmark of margin overstatement.",
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      "text": "inventory value: 55%",
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      "text": "Source: Companies House UK; 2021 10-K, p. 50; Note: Inventories were revised higher from $7.5m (10-Q, p. 7)",
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      "text": "Prior Acquiror: No Inventory Change snippet",
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      "text": "Opening Balance Sheet Post Acquisition: Inventories June 1, 2021",
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      "kind": "title",
      "text": "Deep Sea: Suspicious Undisclosed Inventory Mark-Up",
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