AMCON Distributing Co. is undervalued based on various valuation methodologies. It has reduced debt significantly over the past four years through paying down its credit facility. AMCON has a strong market presence distributing products to over 4,300 retail outlets across 18 states. The company is led by an experienced management team that has improved operations and financial position. However, AMCON operates on thin margins in a competitive industry and remains dependent on its credit facility.