Dole Foods an asset play

Correction: In this episode, I mistakenly referenced the wrong land valuation for Dole. Dole had a certain number of acres publicly listed on their website. However, just because a company operates on land doesn’t necessarily mean they own it. I initially assumed Dole owned certain land in the Philippines, but after revisiting their 10-K and 20-F filings, I found no indication of ownership there. Instead, I reviewed the land they actually own and corrected my estimates. The updated land value range is $506 million (low estimate) to $1.1 billion (high estimate). 

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Dale analyzes DOLE stock to explore whether the company's land holdings could be undervalued relative to its balance sheet.

Verbal Disclosures read from 0:27 - 1:38. General information and full disclosures for Dale’s Solo Investors Podcast LLC are listed here: dalex5.podbean.com 

 

 

Estimated Location	Estimated  Region Area	Estimated Acres	Estimated Value per Acre ($USD)	Total Estimated Value (Low - High) ($USD)
Colombia	Magdalena Department	569	$3,000 - $7,000	1,700,000	4,000,000
Costa Rica	Guanacaste Province (Cañas, La Fortuna)	697	$5,000 - $12,000	3,500,000	8,400,000
Costa Rica	Guanacaste (Additional Acres)	8,000	$5,000 - $12,000	40,000,000	96,000,000
Costa Rica	Puntarenas	7,000	$5,000 - $12,000	35,000,000	84,000,000
Costa Rica	Alajuela	5,000	$5,000 - $12,000	25,000,000	60,000,000
Costa Rica	Cartago	3,000	$5,000 - $12,000	15,000,000	36,000,000
Costa Rica	Limón	3,000	$5,000 - $12,000	15,000,000	36,000,000
Costa Rica	San Carlos (El Muelle Farm)	2,402	$5,000 - $12,000	12,000,000	28,800,000
Costa Rica	El Comendador	285	$5,000 - $12,000	1,400,000	3,400,000
Costa Rica	Zurqui	460	$5,000 - $12,000	2,300,000	5,500,000
Costa Rica	Other Areas (Remaining)	25,805	$5,000 - $12,000	129,000,000	309,000,000
Ecuador	Dolores	257	$3,000 - $6,000	800,000	1,500,000
Ecuador	Guayas Province	4,000	$2,000 - $4,000	8,000,000	16,000,000
Ecuador	Los Ríos Province	2,500	$1,500 - $3,000	3,750,000	7,500,000
Ecuador	El Oro Province	1,500	$1,800 - $3,500	2,700,000	5,250,000
Ecuador	Azuay Province	752	$1,200 - $2,500	900,000	1,880,000
Honduras	Choluteca	12,000	$2,750 - $5,000	33,000,000	60,000,000
Honduras	Colón	8,000	$4,500 - $7,500	36,000,000	60,000,000
Honduras	Atlántida	5,000	$4,000 - $6,000	20,000,000	30,000,000
Honduras	Gracias a Dios	3,000	$3,000 - $5,000	9,000,000	15,000,000
Honduras	Olancho	4,000	$3,500 - $5,500	14,000,000	22,000,000
Honduras	Yoro	2,227	$3,500 - $5,000	7,800,000	11,100,000
Guatemala	Izabal Department	2,500	$2,500 - $4,000	6,250,000	10,000,000
Guatemala	Alta Verapaz Department	800	$1,000 - $2,000	800,000	1,600,000
Guatemala	Baja Verapaz Department	500	$800 - $1,500	400,000	750,000
Guatemala	Santa Rosa Department	300	$900 - $1,800	270,000	540,000
Guatemala	Chimaltenango Department	104	$600 - $1,500	60,000	160,000
Peru	Sullana, Peru (Banana Production)	405	$3,000 - $5,000	1,200,000	2,000,000
Chile	Paine	2,760	$8,000 - $10,000	22,100,000	27,600,000
South Africa	Limpopo	1,300	$1,500 - $3,500	1,800,000	4,550,000
South Africa	Mpumalanga	204	$1,000 - $2,500	200,000	750,000
USA	Oahu, Hawaii (Pineapples, Coffee, Cacao)	5,014	$10,000 - $40,000	50,100,000	200,600,000
USA	Other USA Land	1,587	$5,000 - $10,000	7,900,000	15,900,000
				506,930,000	1,165,780,000
		114928	acres	Low Total = $506 million
				High Total = $1.165 billion	Average estimate value = 835.5 million