Investopedia: American Woodmark Making The Best Of The Worst

When you sell products into the housing market and the housing market is going through its worst stretch in living memory, the rest of the story goes pretty much the way you would expect. From peak to trough, cabinet and vanity maker American Woodmark (Nasdaq:AMWD) saw sales drop more than 50% and free cash flow plunge into the red.

That said, American Woodmark hasn't really done any worse than rivals like Masco (NYSE:MAS) or Fortune Brands Home & Security (Nasdaq:FBHS) in terms of market share, and has only had one year of negative free cash flow. With a clean balance sheet and major placement in both Home Depot (NYSE:HD) and Lowe's (NYSE:LOW), this may be a "when, not if" recovery story that could pay off for patient investors.

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http://stocks.investopedia.com/stock-analysis/2012/American-Woodmark-Making-The-Best-Of-The-Worst-AMWD-MAS-FBHS-HD0607.aspx