{
  "docId": "019de070-1a44-7621-9406-0897c741557f",
  "docSlug": "329bfee233887648ebc7542be98a41b2",
  "documentTitle": "Azek | IPO Presentation Deck | 43 slides",
  "authorId": "azek",
  "authorName": "The AZEK Company",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2020-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 37,
  "pageCount": 43,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "traction",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 24,
  "notes": "The slide highlights margin expansion and cost management strategies.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de070-1a44-7621-9406-0897c741557f/37",
  "deckHref": "/decks/019de070-1a44-7621-9406-0897c741557f",
  "deckJsonHref": "/decks/019de070-1a44-7621-9406-0897c741557f.json",
  "deckAnchorHref": "/decks/019de070-1a44-7621-9406-0897c741557f#slide-37",
  "components": [
    {
      "bbox": {
        "h": 0.4,
        "w": 0.4,
        "x": 0.07,
        "y": 0.2
      },
      "kind": "chart",
      "text": "ADJUSTED GROSS PROFIT AND MARGIN",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "52ffa0e4-8c4d-4153-ab23-b835cbd6205d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.4,
        "x": 0.52,
        "y": 0.2
      },
      "kind": "chart",
      "text": "ADJUSTED EBITDA AND MARGIN",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71fd8868-a800-45ce-ad4d-f65d4673e1d0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.07,
        "y": 0.72
      },
      "kind": "list",
      "text": "Recent investments in recycling and productivity initiatives starting to deliver results; Acquisition of Return Polymers delivered immediate procurement cost savings (~$2 million annualized)",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "100f5c31-0733-4090-ad3a-a5dcc5ad76c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.4,
        "x": 0.52,
        "y": 0.72
      },
      "kind": "list",
      "text": ">$40 million increase in SG&A expense since 2017; Highly variable cost structure",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4ba3ce21-7d85-4d28-a268-b2610eefffeb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.07,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "Source: Company financials. Note: FY ended September. Refer to Appendix for reconciliations for Adjusted Gross Profit and Adjusted EBITDA.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5962c354-8d93-4358-a46b-987e5281ae9e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.07,
        "y": 0.08
      },
      "kind": "title",
      "text": "Improving Profitability",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f76477c3-0e56-492e-8f71-129f8439c8ed",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "cad8a4bd-c6b5-4829-a729-a6e50bb6ea4c",
      "evidence": "Recent investments in recycling and productivity initiatives starting to deliver results",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 43,
      "from": 33,
      "beatId": "75e827fa-412f-46fb-8b7c-7b64a3a4a15e",
      "arcName": "The Sparkline",
      "arcSlug": "sparkline",
      "beatName": "Action",
      "beatSlug": "aida-action",
      "evidence": "The financial overview, highlights, and long-term financial growth model encourage investors to take action.",
      "position": 8,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 43,
      "from": 33,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "c143e3ec-afe0-418d-92e9-41079362f5b0",
      "evidence": "The financial overview, highlights, and long-term financial growth model test the hypothesis that AZEK can deliver long-term growth.",
      "position": 4,
      "objective": "Can AZEK's financial model deliver long-term growth?",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.6,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}