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  "documentTitle": "Saputo Inc. (TSX:SAP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-11-29 00:00:00",
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  "nDataPoints": 48,
  "notes": "The slide uses a comparison table to expose a potential accounting or operational discrepancy regarding inventory turnover.",
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      "kind": "callout",
      "text": "Beyond the fact that inventory to sales metrics have been rising, a closer look at Saputo Australia's raw materials indicates that they are piling-up and likely not being converted to final products.",
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      "text": "Raw Materials % of Total: 45.3%",
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      "text": "Source: Saputo BAR report and Australian Filings for A.C.N 166 119 133 Pty Ltd",
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      "text": "A Closer Look At Inventory Changes",
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