PriceSmart, Inc. PSMT

PriceSmart is basically Costco for the Caribbean and Central America, minus the brutal competition. The company enjoys first-mover scale, sticky memberships and a rock-solid balance sheet, all while quietly expanding clubs, private-label lines and a budding digital arm. Tariffs, FX quirks and lumpy capex can muddy the waters, but at today’s price the math says you’re paying discount-store prices for a franchise retailer with decent growth and a moderate moat. Not a slam-dunk, yet a pretty smart price indeed.