Bumble Deep Dive

Investor summaryNeutral

Bumble trades at a cheap 1.5x cash flow multiple but faces a major headwind with users dropping 5% quarterly.

Bull points

Extremely cheap valuation at 1.5x cash flow multiple.
Strong cash flow generation relative to market cap and net debt.

Bear points

Continuous user base decline of 5% every quarter.
Low multiple might reflect a structural decline rather than a temporary setback.

BMBL价值 / 回购

Post body

$460M market cap company that did $284M cash flow last year, with only $300M net debt. That's a 1.5x cash flow multiple, compared to 8x for ADBE, 6.5x for LULU.

The catch is their users have been dropping 5% every quarter...

I did a full writeup here: https://gregw134.substack.com/p/bumble-buyout-rumors

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