Nomad Foods: A Contrarian, Defensive Compounder
NOMD's long-term potential is obscured by short-term problems
📍TL;DR
Amid soaring energy prices and high inflation, European frozen food producer Nomad Foods posted a soft 2022, and expects profits to decline in 2023.
Bears would argue that a cheap headline valuation is justified by the lack of pricing power shown in this period.
But since its 2015 founding, Nomad has been quite successful, and we believe management…