Macroeconomic And Competitive RisksRisks include macro headwinds impacting business for residential and commercial trades, especially SMBs, and increased competition.
Market And Competition RisksReplicating the same market leadership in additional markets such as heavy construction or serving general contractors may prove challenging given more established competition.
Valuation ConcernsShares trade at a steep valuation premium to peers, even in a bull case scenario, raising concerns about the pace of profitability improvements given underwhelming Rule-of-40 standing.